Latest news with #JoelKruger
Yahoo
06-08-2025
- Business
- Yahoo
How Bitcoin's price will react to 15% stock market squall
Bitcoin just posted its biggest-ever monthly close, but its momentum has become tangled in tariff jitters and recession whispers. Market analysts are bracing for up to a 15% stock market slide this quarter amid a swirl of weak job data and US President Donald Trump's tariff sabre rattling. These fears have already seen equities lose much of the ground made in July. Crypto markets have slipped too. For crypto traders, the question now is: can Bitcoin stay afloat amid a macro storm threatening to kneecap the stock market? 'Any pronounced weakness in US equities is likely to exert short-term pressure on Bitcoin, given its notable correlation with risk assets,' Joel Kruger, market strategist at LMAX Group, an institutional crypto exchange, told DL News. Bitcoin fell from its all-time high above $122,000 by about 7% following a massive $9 billion selloff and late-month macro jitters. Still, some market analysts say Bitcoin has shown some strength, despite the price slide. Bitcoin's resilience remains propped up by its store-of-value status, massive institutional demand via exchange-traded funds, and favourable regulatory shifts, Kruger said. These factors are likely to encourage more investors to continue buying Bitcoin and help stabilise its price, he said. In April, BitMEX co-founder Arthur Hayes said Bitcoin's price won't crash the next time Trump's tariff zigzag sends the markets cratering. Meanwhile, US investors are piling into Bitcoin amid expectations that the Federal Reserve will slash interest rates in September. Some analysts project Bitcoin could trade as high as $150,000 by the end of the year. 'Structural divergence' Bitcoin's possible strength in the face of market turmoil might not extend to the broader cryptocurrency market, as some analysts expect an uneven response to macro jolts. Bitfinex analysts told DL News that the market is displaying a 'structural divergence in performance between Bitcoin and the rest of the crypto asset class.' 'This divergence underscores Bitcoin's growing role as a macro-resilient, institutional-grade asset,' Bitfinex analysts said. That uneven response might also mean altseason, when altcoin prices soar sharply, might not happen this quarter. Bitfinex analysts previously told DL News that altcoins still lack the structural demand and capital rotation required to trigger massive price bumps. Instead, the market is in a 'highly-reactive phase' where sharp liquidations can happen due to leverage-heavy positioning among traders. Crypto market movers Bitcoin is down 0.8% over the past 24 hours and is trading at $114,014. Ethereum is down 1.7% in the same period to $3,624. What we're reading SEC: $66bn liquid staking market doesn't involve sale of securities — DL News Bitcoin Recovers From Choppy Weekend Trade — U What you missed this week — Milk Road CFTC is 'Full Speed Ahead' to Enable Spot Crypto Trading on Federally Registered Exchanges — Unchained Fluid passes Uniswap in daily volume on Ethereum — DL News Osato Avan-Nomayo is our Nigeria-based DeFi correspondent. He covers DeFi and tech. Got a tip? Please contact him at osato@ Sign in to access your portfolio
Yahoo
30-07-2025
- Business
- Yahoo
Why Ethereum is currying favour with investors instead of Bitcoin
It's finally time for Ethereum. The second largest crypto is pulling ahead of Bitcoin in the eyes of analysts and institutional investors, as exchange-traded fund inflows soar and corporate treasuries gobble up Ether at a feverish pace. 'ETH continues to outperform, both tactically and structurally,' Joel Kruger, market strategist at LMAX Group, said in comments shared with DL News. Invest in Gold Thor Metals Group: Best Overall Gold IRA Priority Gold: Up to $15k in Free Silver + Zero Account Fees on Qualifying Purchase American Hartford Gold: #1 Precious Metals Dealer in the Nation 'Firms building ETH-based balance sheets have emerged as meaningful marginal buyers, complementing the flows from ETF issuers.' In fact, inflows into Ethereum ETFs in the past four weeks have been the 'best stretch ever,' Kruger said. In July alone, Ethereum ETFs took in a staggering $4.7 billion — which doubles its entire load since launch exactly one year ago. Total assets under management now sit at $21 billion, still just 13% of Bitcoin ETFs. Moreover, of the $1.9 billion in investor money scooping up crypto ETFs in last week, Ether accounted for over 84% of that number. Another flippening Ethereum's rally is starting to flip the narrative. Bitcoin has hogged headlines all year, buoyed by ETF hype and corporate treasury companies. But with Ethereum up 55% in the past 30 days and Bitcoin dominance slipping to 59%, the balance of power is shifting. Now, a growing number of analysts and allocators view Ether, and not Bitcoin, as the asset with more upside ahead. 'It's Ethereum's turn to see record highs,' Satraj Bambra, CEO of crypto trading platform Rails said in comments shared with DL News. 'We'll see it double and even hit the $7,000 to $8,000 range.' 'Michael Saylor effect' What'll drive higher prices? A growing 'Michael Saylor effect' around altcoins, with institutional buyers like Sharplink Gaming and BitMine acting as relentless Ether accumulators, Bambra said. That trend — once the exclusive domain of Bitcoin bulls — now includes Ethereum-focused firms building long-term treasury strategies. Indeed, corporate treasuries are clambering in. Ethereum holdings across public company balance sheets have climbed to 2.6 million ETH, or roughly 2.1% of total supply. Coinbase's inaugural Institutional Crypto Market Positioning report backs up the shift. The report shows rising speculative interest in large cryptocurrencies — with Ethereum leading the pack. Open interest is up, there's net accumulation by short-term holders, and orderbook liquidity is gathering strength just above Ethereum's current price tag. What about Bitcoin? Ethereum trades at about $3,790, up 110% in the past three months. Meanwhile, Geoffrey Kendrick, Standard Chartered's head of digital assets, forecasts that public companies 'may eventually end up owning 10% of all ETH,' which he said will push the cryptocurrency's price to $4,000 this year. Pedro Solimano is DL News' Buenos Aires-based markets correspondent. Got at a tip? Email him at psolimano@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
01-07-2025
- Business
- Yahoo
Bitcoin Carried Crypto Markets in 2025's First Half as Altcoins Crumbled. What's Next?
On the surface, the crypto market barely moved in the first half of 2025. Despite all the tantrum about tariffs, impending recession, war, and heightened expectations of crypto friendly policies and a digital asset strategic reserve with Donald Trump's return to the White House, the total market capitalization of cryptocurrencies, measured by TradingView, inched up a measly 3% to $3.27 trillion over the past six months. Looking closer, the performance was starkly uneven, with bitcoin BTC holding up the rest of the market. BTC climbed 13% in the first six months of 2025, continuing to outshine the broader market. Meanwhile, Ethereum's ether ETH, the second-largest crypto asset, tumbled 25%, and Solana SOL shed nearly 17%. Smaller and riskier tokens endured even sharper losses: the OTHERS index on TradingView, which excludes the 10 largest assets by market cap, plunged 30%. Despite the modest start to the year, some analysts see room for renewed upside. Joel Kruger, market strategist at LMAX Group, noted that July has historically been a strong month for crypto, averaging 7.56% returns since 2013. 'We enter a period that has traditionally delivered stronger returns,' said Kruger. 'With the second half of the year historically producing outsized gains, the broader setup remains encouraging.' Kruger also highlighted that the crypto treasury strategy trend is increasingly expanding beyond bitcoin, with firms announcing plans to accumulate digital assets like ETH. Coinbase analysts also maintained a positive outlook for crypto through the second half of the year, driven by favorable macroeconomic backdrop, potential rate cuts by the Federal Reserve and increasing regulatory clarity in the U.S. with lawmakers advancing legislation for stablecoins and the broader crypto market structure. Still, the next couple months could be lackluster, Bitfinex analysts warned. The next quarter-year starting with July has been historically the weakest for bitcoin, averaging only 6% gains since 2013, they said in a Monday report. "This is also where average volatility is subdued, adding to our bias of range bound price action continuing for longer," the authors noted. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
20-06-2025
- Business
- Yahoo
Bitcoin Steady Above $104K as Traders Eye Historically Bullish Second Half
Crypto markets drifted lower on Thursday, caught between hawkish macro guidance, looming global trade deadlines, and fading volatility. Bitcoin BTC hovered near $104,700 during Asia hours, slipping 1.2% over 24 hours, while ether ETH traded just below $2,860, down 1.8% on the day. The soft price action tracks with broader macro unease following Wednesday's FOMC hold, where the Fed kept rates unchanged but reiterated a cautious, inflation-sensitive stance. Historically subdued during the June-July stretch, crypto markets have entered a lull with BTC front-end implied volumes slipping under 40%, erasing the risk premium from recent geopolitical tension, Singapore-based QCP Capital noted in a Thursday market broadcast. Open interest across BTC and ETH perps remains flat, and option markets skew negative, with puts trading at a premium to calls – a sign of traders hedging against short-term pullbacks. 'There's been no change to the technical picture, which remains supportive of another push to the topside,' said Joel Kruger, strategist at LMAX Group, in an email to CoinDesk. 'BTC continues to consolidate bullishly, and a move through recent highs could set up a run toward $145,000.' Ether still lags its 2021 highs but is gaining momentum, he added. 'Clearing $2,900 could bring $3,400 into play,' Kruger said. One bright spot for crypto is the U.S. Senate's passage of a stablecoin framework, which adds another building block to what is becoming a more regulatory-friendly global environment. That's reinforced a broader institutional conviction. 'Globally, we're seeing continued progress that promises greater clarity and a more welcoming environment for institutional crypto adoption,' Kruger added. Still, the near-term setup remains cautious. Month-end OPEX flows, systematic rebalancing, and a lack of fresh catalysts could keep BTC stuck in its $ 102,000–$ 108,000 band for now. But with H2 historically strong for crypto, some desks are already looking ahead. 'The worst may be behind us,' Kruger said. 'And the next leg up could catch many off guard.'
Yahoo
30-05-2025
- Business
- Yahoo
AI Crypto Livepeer Explodes 150% on Upbit Listing
The native token of Livepeer LPT, a decentralized artificial intelligence video processing protocol, soared on Friday to its strongest price in four months on exchange listing and other catalyst. The token advanced 150% over the past 24 hours, hitting a session high at $14.20, CoinDesk data shows. The surge defied a slump in the broader crypto market, with bitcoin BTC sliding 2% below $106,000 and the CoinDesk 20 Index declining 3.5% during the same period. Most artificial intelligence-linked tokens were down 5%-10%. The price action happened as popular Korean exchange Upbit introduced trading with the token against KRW and Tether's USDT on its platform earlier on Friday. Joel Kruger, a crypto market strategist, highlighted that asset manager Grayscale introduced earlier this week its Artificial Intelligence Crypto Sector, with Livepeer being included among the 20 cryptocurrencies. Ecosystem developer Livepeer Foundation's advisory boards also kicked into gear, starting a community survey about the platform's strategic direction, he pointed out.
