Latest news with #KayLu
Yahoo
2 days ago
- Business
- Yahoo
What Next as Ether Zooms 7%, DOGE Leads Majors Gains Amid Bitcoin Euphoria
Ether posted a sharp 7% gain in the past 24 hours as bitcoin's steady climb past $109,000 boosted an otherwise flat crypto market. Dogecoin added over 5% to trade near 19 cents as of Asian afternoon hours Tuesday, while Cardano's ADA rose more than 5% as risk appetite returned after last week's volatility. Overall market capitalization rose more than 3%, with the broad-based CoinDesk 20 (CD20) adding 4%. The rebound came as traders continued to digest the latest US-China trade developments and braced for key inflation data this week that could set the tone for interest rate expectations. 'Bitcoin surged to around $110K as US-China trade talks resumed while the SEC greenlights new crypto ETFs, giving investors a renewed bullish sentiment,' said Augustine Fan, Head of Insights at SignalPlus, in an email to CoinDesk. 'We anticipate a continuation of the bullish trends as crypto attracts more institutions and retail investors with innovations and competitive returns.' Kay Lu, CEO of HashKey Eco Labs, said the market's reaction to the Trump-Musk spat last week may have been overdone. 'We're seeing some market recovery as fundamentals remain strong,' Lu said. 'The CPI data on Wednesday could be a key catalyst for price moves.' Meanwhile, Jeff Mei, COO at BTSE, warned that the current cycle may not be straightforward. 'We're seeing more options for investors to get crypto exposure, whether through ETFs, corporate treasuries, or stablecoin issuers,' Mei said. 'This cycle will be more nuanced as crypto matures as a macro asset class.' Nick Ruck, director at LVRG Research, noted that Bitcoin's price action above $109,000 showed resilience in the face of mixed signals. 'Bitcoin's climb amid geopolitical and macro headwinds reinforces its standing as a macro asset class,' Ruck said. 'ETF momentum has put crypto back on the radar for mainstream investors.'
Yahoo
28-05-2025
- Business
- Yahoo
Bitcoin Traders Eye New Highs by End of Summer; Ether Rises 3% on Treasury Optimism
Bitcoin BTC held steady near $109,000 early Wednesday as traders bet on fresh highs in the coming months, with ether ETH rising over 3% after renewed confidence in Ethereum's long-term strategy and broader institutional activity. U.S. equities surged following the Memorial Day weekend, led by a 2% gain in the Nasdaq, as investors shrugged off labor market concerns and drew optimism from softening trade tensions. The rebound, aided by stabilizing Treasury yields and easing shipping disruptions between China and the U.S., has rekindled risk appetite across asset classes. 'Institutional investors are increasingly reallocating into crypto after volatility shook traditional safe havens,' said Kay Lu, CEO of HashKey Eco Labs. 'Ethereum's new treasury initiative—mirroring MicroStrategy's BTC approach—shows that crypto is becoming a long-term reserve asset for the web3 ecosystem.' Ethereum co-founder Joseph Lubin and development lab ConsenSys unveiled a $425 million ETH-based treasury reserve plan at publicly traded SharpLink, a move likened to Bitcoin-centric corporate strategies. The company is raising roughly $425 million through a private investment in public equity (PIPE) offering. The proceeds will be used to buy ether, which will then serve as the primary treasury reserve asset. The offering is expected to close on May 29th, according to the release. Lubin will become chairman of the board of directors upon the closing. Meanwhile, bitcoin exchange-traded funds saw over $385 million in fresh inflows, signaling continued institutional demand. Still, traders remain cautious ahead of the high-profile Bitcoin Conference, which kicks off in Las Vegas this week. Key speakers include JD Vance, Michael Saylor, and members of the Trump family, whose past appearances have stirred sharp market reactions. 'Front-end volatility remains elevated with BTC trading in a tight $107K to $110K range,' Singapore-based QCP Capital said in a market broadcast. 'Last year's Trump keynote in Nashville caused a spike in 1-day implied vol above 90, followed by a 30% BTC drop. That memory is still informing positioning.' QCP added that perpetual futures open interest has eased, funding rates have normalized, and some prominent retail traders, including James Wynn, appear to be reducing exposure. The defensive posturing suggests that, while new highs are expected this summer, traders are bracing for short-term volatility around political and macro headlines. Still, analysts remain broadly bullish. 'The structure underneath remains strong,' said Augustine Fan, head of insights at SignalPlus told CoinDesk in a Telegram message. 'Positive macro headwinds and better underlying structure paint an optimistic outlook with traders expecting prices to grind towards new highs by the summer,' Fan ended. 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
06-05-2025
- Business
- Yahoo
Cardano's ADA, XRP Slide as Bitcoin Traders Await ‘Coin-Flip' FOMC Meeting
Cardano's ADA and XRP led losses among majors on Tuesday as traders await the outcome of the upcoming Federal Reserve (FOMC) meeting, where rates are expected to stay unchanged but Fed chair Jerome Powell's comments could provide cues on further market positioning. Bitcoin (BTC) prices held above $94,000 after briefly dipping below that level on Sunday, continuing its recent range-bound behavior. ADA price dropped nearly 4% while XRP slid similarly. Ether (ETH) fell nearly 1%, BNB Chain's BNB rose 1.3% and memecoin dogecoin (DOGE) was down 2% in the past 24 hours. The broad-based CoinDesk 20 (CD20), a liquid index that tracks the largest tokens by market capitalization, dropped a little over 1.8%. Elsewhere, some DeFi tokens such as AAVE, Curve's CRV, and Hyperliquid's HYPE have seen a bump in demand over the past week in a sign of trader interest toward projects with utility and yield mechanisms, some say. 'As memecoins fall out of favor, traders are turning to projects with stronger fundamentals and token economics,' said Kay Lu, CEO of HashKey Eco Labs, told CoinDesk in a Telegram message. 'DeFi ecosystems are benefiting from this pivot, especially as Bitcoin shows decreased volatility and macro uncertainty lingers. We're hopeful to see the DeFi trend continue as Bitcoin maintains decreased volatility and crypto acts as a hedge for economic uncertainty,' Lu added. HYPE led gains among the top 100 tokens with a 72% surge in the past week, with AAVE and CRV up as much as 40%. Powell's comment in focus Traders across both crypto and traditional finance markets are eyeing this week's FOMC interest rate decision, with consensus expectations pointing to a pause in rate hikes. However, uncertainty around inflation, tariffs, and the broader U.S.–China trade tensions has left many participants cautious. 'We don't expect the FOMC to trigger a major move in markets,' said Augustine Fan, Head of Insights at SignalPlus, in a Telegram message. 'It's a coin flip on direction. Crypto will likely take cues from broader earnings growth and how the economy digests the impact of recent trade policies.' Recent stock market strength suggests that investors are pricing in only a mild recession risk, around 8%, according to historical drawdown models. That contrasts with more bearish signals from bond markets and macroeconomic forecasts, Fan added. Last week, President Trump confirmed no immediate plans for talks with China, dampening hopes for a breakthrough in U.S.–China trade negotiations. Still, the possibility of separate trade agreements has helped keep risk sentiment intact, as reported Monday.
