Latest news with #DougColkitt
Forbes
18-07-2025
- Business
- Forbes
Ether Prices Reach A Fresh, 6-Month High Near $3,700
Ether prices reached a six-month high on July 18, fueled by multiple bullish factors. Ether prices rallied on Friday, July 18, approaching $3,700 and attaining their highest value since early January. The world's second-most valuable digital currency by market value reached $3,677.40 during the day, according to Coinbase data from TradingView. At this point, the cryptocurrency was trading at its loftiest price since approximately January 7. The ether token has been having a very strong month, rallying more than 50% after falling to as little as roughly $2,400 near the start of July, additional Coinbase figures from TradingView reveal. When asked what fueled these latest gains, analysts who contributed input for this article highlighted several factors, including the recent legislative developments such as the government's decision to approve the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS Act). The YouTuber who goes by Wendy O commented on this particular matter, stating that 'Ethereum has been on an absolute tear recently. And I honestly think we can attribute most of it to the GENIUS Act getting approved and then of course, BlackRock filing to allow staking of Ethereum in their iShares Ethereum Trust ETF (ETHA).' Doug Colkitt, a founding contributor at Fogo, also weighed in, identifying several causal factors. 'Ethereum is benefiting from a mix of structural and speculative drivers," he stated via email. 'The rally is partly fueled by renewed momentum across DeFi and tokenized assets, which continue to build atop Ethereum's infrastructure. On top of that, with Bitcoin dominance stretched, investors are rotating into other majors like ETH that offer strong narratives, robust developer activity, and room to run,' said Colkitt. 'If ETF progress continues, Ethereum could be on the verge of a new capital influx cycle," he concluded. Mike Cahill, CEO of Douro Labs, also provided his take on ether's latest price rally. 'Ethereum is catching a wave of renewed institutional interest, driven by the broader tailwinds from ETF optimism and a rotation into high-beta assets,' he stated. 'But under the hood, there's also growing traction in the tokenization and L2 space, both of which are Ethereum-native narratives. As institutions begin allocating capital across more than just Bitcoin, Ethereum is naturally the next step, especially given its programmability and network effects across both DeFi and RWAs,' said Cahill. Joe DiPasquale, CEO of cryptocurrency hedge fund manager BitBull Capital, offered input on ether's latest upside, citing a range of causal factors. 'Ether's rally toward $3,700 is being fueled by record inflows into spot ETH ETFs, with institutional investors showing renewed conviction,' he stated via email. 'Regulatory clarity from the GENIUS Act is also boosting sentiment, especially as Ethereum plays a central role in the stablecoin ecosystem. Add in whale accumulation and a strong technical breakout, and we're seeing a surge that looks more sustainable than past speculative runs.' Record Staking Activity Greg Magadini, director of derivatives for digital asset data provider Amberdata, took a different tack than the other respondents, focusing on staking activity. 'Today we have the highest ETH staking rate ever seen. About 30% of all ETH is now staked," he emphasized via email. "As Ethereum staking rates increase, the available liquid ETH remaining to trade is reduced (a smaller tradable float). Combine this phenomenon with ETH etf inflows, corporate treasury allocations and a longtime ETH underperformance and we get an explosive 'upside move,'' said Magadini. 'Everyone is trying to buy at the same time!' he stressed. The crypto derivatives expert also spoke to the impact of regulatory developments, as well as supply-demand dynamics. 'This week's regulatory clarity and prospects for stablecoin adoption are great catalysts to create investment demand for ETH and other EVM based chains (65% of all USDC is on EVM chains), but the real key to explosive upside is the dynamics of increased demand with a simultaneous decrease in tradable supply," said Magadini. 'There's a lot of upside to ETH as the historical range of ETH prices to BTC prices ranges from 2% to 11% which implies ETH could rally from a low of $2,000 to $12,000 given Bitcoin's current value,' he noted. Rotation Into Altcoins One analyst in particular focused on investors rotating their capital from bitcoin into altcoins. When asked what fueled ether's latest gains, Julio Moreno, head of research for CryptoQuant, responded that 'I think that it generally has to do with early signals that investors/traders are rotating part of their capital from Bitcoin to altcoins, as these coins reached extremely undervalued levels compared to Bitcoin.' 'Purchases of ETH from US-based ETFs have outperformed purchases of Bitcoin. You can see this in the ratio of ETH to Bitcoin holdings of these ETFs,' he stated via Telegram. 'The ratio has increased from 0.02 in April to 0.09 today." The chart below helps illustrate these developments: ETF: ETH/BTC Total Holdings Ratio 'A similar dynamic can be observed in the relative spot trading volume ratio for these coins, which has been increasing in the same period, indicating higher growth in ETH trading activity than in Bitcoin,' he stated. The chart below illustrates this situation: Bitcoin and ether weekly spot trading volume
Forbes
11-07-2025
- Business
- Forbes
Crypto Analyst: Bitcoin's Latest High A Sign That Market Is 'Maturing Fast'
Bitcoin prices hit their latest record, this time above $116,000. Bitcoin reached a fresh, all-time high above $116,000 on Thursday, July 10, a development that one analyst highlighted as a clear sign of rapid evolution. 'Bitcoin's new ATH high is a signal that this market is maturing fast,' Doug Colkitt, a founding contributor at Fogo, stated via email. He offered this interpretation after the world's most prominent digital currency rose to more than $116,600, according to Coinbase data from TradingView. 'Every breakout like this pulls more liquidity into the ecosystem, and traders are already looking past BTC toward performance assets deeper in the onchain stack,' he said. 'The next wave of gains won't come from narrative alone, but from platforms that solve real trading problems and move serious volume.' Mike Cahill, CEO of Douro Labs, also weighed in on the implications of these latest price movements. 'Bitcoin breaking $114K is particularly significant because it reflects growing institutional confidence, deepening integration with traditional markets, and a global search for financial infrastructure that isn't shackled to legacy intermediaries,' he said through emailed commentary. 'The real story here goes far beyond price,' Cahill emphasized. 'The narrative that has been driving finance in 2025 is the notion that DeFi and TradFi are converging, and this new all-time high just underscores the dawn of the next era for finance as a whole.' 'As Bitcoin continues to gain new ground, what matters most is how this capital gets redeployed: into new blockchains, better infrastructure, and decentralized systems with real-world impact,' he concluded. Tom Bruni, editor-in-chief & VP of community at Stocktwits, offered his thoughts on the strength of bitcoin's latest upward movement. 'Bitcoin broke out to fresh all-time highs today, begging the question of whether this is the real deal or a fakeout,' he said through email. 'Today's breakout to new highs and strength in the altcoin market suggest risk appetite remains strong.' 'In the absence of any negative catalysts, people are comfortable buying stocks, crypto, and other risk assets…at least until earnings season kicks off Tuesday and picks up in the following weeks,' stated Bruni. 'But for now, sentiment suggests there's more room to run, and retail seems to be sticking with the trade.' 'From both a sentiment and technical perspective, the recent reset is being viewed by traders as a healthy development,' he emphasized. 'More broadly, Bitcoin's consolidation over the last six weeks has allowed sentiment to reset and provide a more sustainable backdrop for prices to rally against,' Bruni continued. 'The first time prices reached $110k, Bitcoin had experienced a 50% rally off its April lows in just six weeks, making it difficult for bulls to get on board,' he added. 'Now, with prices resetting at this higher range, it's clear to buyers that they won't be getting a bargain at lower levels.' 'Essentially, they feel more confident in buying a fresh breakout vs. chasing a long-in-the-tooth rally.'
Forbes
02-07-2025
- Business
- Forbes
Bitcoin Approaches $110,000 As Stronger Sentiment Fuels Risk-Off Bets
Bitcoin prices rallied on July 2. Bitcoin prices climbed on Wednesday, July 2, pushing the digital currency to its highest value in roughly three weeks as the innovative asset seemingly benefited from varying bullish developments and their corresponding impact on market sentiment. The world's most prominent cryptocurrency surpassed $109,800 close to 1:30 p.m. EST, according to Coinbase data from TradingView. At this point, it was up roughly 4.5% for the day, after falling to almost $105,000 earlier. Doug Colkitt, a founding contributor at Fogo, spoke to these developments, highlighting many variables he credited for fueling bitcoin's gains. 'We're seeing the market digest recent geopolitical and regulatory headlines, and Bitcoin, as always, is the first to benefit when sentiment improves. Combine that with growing confidence around the Fed's trajectory and consistent ETF demand, and you get the kind of breakout price action we saw today,' he said. Joe DiPasquale, CEO of cryptocurrency hedge fund manager BitBull Capital, also weighed in, citing numerous developments for placing upward pressure on bitcoin prices. 'The recent run-up is being driven by a combination of renewed ETF inflows, easing macro jitters, and traders chasing momentum after Bitcoin reclaimed key levels,' he stated. 'You're also seeing broader risk assets perk up as rate cut hopes come back into focus,' DiPasquale added. Mike Cahill, CEO of Douro Labs, also offered his perspective, emphasizing how improving conditions are impacting investor behavior. 'Bitcoin's bounce today reflects a broader rotation back into risk assets following a week of macro uncertainty,' he stated. 'With ETF inflows steady and regulatory signals trending positive, investors are re-risking into a digital asset with real institutional momentum.' Major Fund Milestones Several analysts emphasized that major developments that have materialized lately in crypto related funds when pointing out bullish factors impacting bitcoin. Earlier in the week, the U.S. Securities and Exchange Commission gave investment manager Grayscale a green light to convert its Digital Large Cap Fund into an exchange-traded fund (ETF). This fund will use the CoinDesk 5 index, which emphasizes bitcoin's dominant position in the overall cryptocurrency market, as its benchmark. Tom Bruni, editor-in-chief & VP of community at Stocktwits, said this as 'was a meaningful milestone this week because it's the only crypto index approved for a major U.S. stock exchange so far, and it likely signals a wave of additional filings from other providers ahead.' 'Additionally, this ruling effectively greenlights spot ETFs for Ripple, Solana, Cardano, and others in the process,' he added. The YouTuber who goes by Wendy O also noted the launch of the REX-Osprey™ Solana + Staking ETF, the first such fund in the U.S. to grant investors exposure to staking rewards, emphasizing that it generated millions of dollars' worth of trading volume in its first 20 minutes. In addition, she highlighted the SEC's recent decision to approve the Grayscale fund conversion. 'Just this solidifies the market is excited about the progress of crypto under this new administration and it also being the beginning of Q3 2025,' she stated.
