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Yahoo
14-07-2025
- Business
- Yahoo
Bitcoin is on a record-setting hot streak. 3 things are driving the latest rally in the top crypto.
Bitcoin is on a record-setting rally, breaking above $122,000 on Monday. Investors are eyeing crypto legislation, with "crypto week" kicking off in Congress on Monday. The coin has also been boosted by strong institutional demand. Bitcoin's latest record-setting rally came gradually, then suddenly. After edging up to around $112,000 to snag its first record in months last Wednesday, the world's biggest cryptocurrency spiked dramatically over the following days. Its latest jump has pushed bitcoin's total market value to nearly $2.4 trillion, above that of mega-cap tech firms like Alphabet and Meta Platforms. This embedded content is not available in your region. Here are three things that have driven bitcoin's rapid climb above $120,000. Monday marked the start of crypto week in Washington, DC, with investors banking on lawmakers' debates over a series of crypto-related bills set to create fresh tailwinds. Here are the key bills that markets are watching for: The GENIUS Act: A Senate bill that provides a regulatory framework for issuing stablecoins. The CLARITY Act: A bill that allows regulators to categorize cryptocurrencies as either a commodity, a security, or a currency. The Anti-CBDC Surveillance State Act: A House bill that bans the Federal Reserve from issuing a central bank digital currency. The prospect of new regulation is ironing out some of the uncertainty associated with crypto assets, and encouraging more institutional investment, Oku Markets' Mills added. Stablecoins have already been in the spotlight since the GENIUS Act passed in the Senate last month, and any legislative support for the broader space will likely be cheered by investors who have been clamoring for stronger government backing and regulatory clarity for digital assets. "The decisive point is: the roadblocks are gone. From a regulatory standpoint, there are no more obstacles in the U.S. — quite the opposite. Capital markets are open. The world's largest economy is no longer neutral, but explicitly pro-crypto. Adoption is in full swing," Eric Demuth, CEO of Bitpanda, said on Monday. According to an analysis published by CoinShare, digital asset investment products saw around $3.7 billion of inflows last week, the second-largest weekly amount on record. Meanwhile, spot bitcoin ETFs took in $1.22 billion last Thursday, according to data compiled by The Block, the largest daily inflow into bitcoin funds since Trump won the presidential election. Enthusiasm for bitcoin is also taking hold among corporates. Bitcoin treasury strategies are on the rise, looking to duplicate the success of Michael Saylor's bitcoin proxy, Strategy. Metaplanet, a Japanese bitcoin Treasury, said it purchased another 797 bitcoin on Monday for around $94 million. Strategy, for its part, also said it purchased more than 4,200 bitcoin in the last week for around $472 million, a regulatory filing shows. According to Bloomberg, Twenty One Capital, Nakamoto Holdings, and ProCap Financial are among the bitcoin holders that have initiated a SPAC or a reverse merger this year. Investors are flocking toward bitcoin, partly due to dampened confidence in other US assets as President Donald Trump adds fuel to his trade war. US stocks were under pressure again on Monday as traders weighed the impact of Trump's newly announced tariffs, which include a 30% tariff on the EU and Mexico announced over the weekend. Macroeconomic tailwinds are one factor that's helped push bitcoin's price higher, according to Prem Raja, the head of trading at Currencies 4 You. "With the Dollar under pressure, markets have entered a risk-on phase, driving capital into equities, tech, and digital assets," Raja wrote in a note. "Bitcoin's nature as a decentralised, global asset, unaffected by corporate earnings or domestic currency exposure, has made it particularly attractive amidst trade tensions, corporate margin pressures and rising stagflation concerns," Anita Wright, a chartered financial planner, said. Read the original article on Business Insider Sign in to access your portfolio
Daily Mail
13-05-2025
- Business
- Daily Mail
Will gold prices soon hit $4,000 - or has it reached a peak? Experts give their verdict
The price of gold has rocketed in recent months as investors seek a haven for their assets amid geopolitical and market uncertainty. While equities have fallen back, with most indices making minimal gains year-to-date, investors have piled into gold. The commodity has reached record highs in 2025, up nearly 25 per cent to $3,260 year-to-date. The pace of growth has accelerated since President Trump announced tariffs, with gold up 9 per cent in the last month. However, the reversal of some tariffs and the recently announced deal between the US and China could reverse gold's fortunes. Has the price of gold peaked, or will continued uncertainty push it higher? Experts below give their views. Why gold has reached its peak - according to some On Monday, the price of gold fell 3 per cent following the US and China tariff deal. David Belle, founder and trader at Fink Money told agency Newspage that it indicates that 'we are the top for gold'. As concerns over trade and tariffs dissipate, he says that 'scared' investors will pull back. He adds that China has been a big buyer of gold since Trump's election in November, 'effectively hedging the past five months.' As the issues turn a corner, China could start to buy USD-denominated bonds to earn yield from its USD holdings. 'Gold doesn't provide this yield. A trade deal being struck should send gold tumbling pretty hard.' Harry Mills, director at Oku Markets says the recent gold rally was a 'classic safe-haven demand play' and given recent progress he 'expects a natural pullback in the price.' However, uncertainty remains, so he is not yet discounting a further bull run to $4,000. Scott Gallacher, director at Rowley Turton warns investors to be cautious as Trump's deal with China means 'gold may start to lose its lustre.' He adds: 'Buying at a potential peak risks sharp losses if the fear premium unwinds.' How gold could hit new highs The record gold rally leads some experts to think that there is some way to go yet. Anita Wright, chartered financial planner at Bolton James, thinks gold could reach as high as $4,000 if the economic and geopolitical issues persist. If inflation continues to tick higher, gold could become an increasingly attractive asset to act as a hedge. 'Gold, a tier-one asset needing no counterparty backing, is increasingly attractive,' says Wright. 'Central banks - not retail speculators - are leading gold purchases to de-risk reserves… Gold is rallying on structural shifts in global finance. 'Corrections are likely, and volatility is inherent, but the underlying bid from institutional buyers remains solid.' Demand from retail investors also continues and increasingly forms a bigger part of portfolios. Faisal Sheikh, managing director at Monmouth Capital says as gains approach 100 per cent, 'gold now presents a lot more of some portfolios than originally intended.' He says while some investors might bank profits, 'the idea that a handful of trade deals signal a return to normal is naive… 'President Trump has already shown willingness to rip up not just deals signed in his first term, but even those struck in the chaotic past few months.' Expectations central banks will accelerate the rate of cuts is also helping push the gold price higher, with markets predicting more to come. Gabriel McKeown, head of macroeconomics at The Sad Rabbit Newsletter, says: 'This, combined with a world rife with international turmoil and tariff proliferation, could be the spark that pushes gold prices towards the $4,000 threshold.' If the price of gold does break the $4,000 barrier, investors are unlikely to be in for an easy ride, as ongoing uncertainty could lead to short-term drops in the price of gold. McKeown adds: 'Despite the enduring bullish outlook, the rapid climb in gold prices could lead to significant volatility. 'With a series of unprecedented highs, the gold market risks overheating and may face bouts of profit-taking, so investors should brace for short-term fluctuations as gold reaches new heights.'
Yahoo
09-04-2025
- Business
- Yahoo
iPhone prices ‘risk doubling' if production moves to US
An iPhone made in America could cost 90pc more to make than it does now if Donald Trump maintains tariffs on China, a leading Wall Street bank has warned. With most of Apple's iPhones made in China, analysts at Bank of America have warned that shifting production to the US will be 'logistically challenging' and lead to a spike in costs. President Trump has raised tariffs on China to 125pc from 104pc, while also pausing higher tariffs for dozens of other nations for 90 days. However, they will be hit with a baseline rate of 10pc. The move is designed to push more manufacturing to America but doing so is likely to raise production costs, the bank warned. 'While it may be possible to move final assembly to the US, moving the entire iPhone supply chain would be a much bigger undertaking and would likely take many years, if even possible,' said a research note from the bank, which crunched the numbers using the 104pc tariff rate. The analysts said that iPhone costs could increase 25pc 'purely on higher labour cost in the US' but could spike much more if Apple has to pay tariffs on each small part. 'If Apple had to pay reciprocal tariffs to import sub-assemblies into the US, we see the total cost of an iPhone increasing 90pc+,' the analysts warned. The note has emerged days after Howard Lutnick, US Commerce Secretary, said in an interview that an 'army of millions and millions of human beings, screwing in little screws to make iPhones – that kind of thing is going to come to America'. Apple has already said that it will spend $500bn (£400bn) and hire 20,000 new staff in the US, although a large chunk of those jobs are expected to be in artificial intelligence. Trump's tariffs have prompted Apple's shares to spiral in recent days, which cost the company its spot as the world's most valuable company. The tariffs have originally impacted not only China but also Vietnam and India, where the tech giant has moved parts of its production in recent years. Mr Trump signalled on Wednesday he was pausing higher tariffs on these countries. Although the UK should, in theory, be unaffected, some UK-based experts believe there could also be some stockpiling here from distributors and shoppers. Harry Mills, of currency firm Oku Markets, said the increase in prices to consumers 'could be £300 or more as the tech giant updates its pricing to reflect its newly higher costs. 'The mobile phone sector moves quickly, and large wholesalers, distributors and resellers may stockpile devices ahead of anticipated price rises'. However, Ben Wood, an analyst at CCS Insight, said it 'would be a risky move' for UK businesses to stockpile iPhones given the continued uncertainty and rapidly changing situation. He said: 'Demand is unlikely to change dramatically in the UK at present, so the danger for any company taking this route is that they could be left with excess stock and an unwanted liability on their balance sheet.' Broaden your horizons with award-winning British journalism. Try The Telegraph free for 1 month with unlimited access to our award-winning website, exclusive app, money-saving offers and more.
Telegraph
09-04-2025
- Business
- Telegraph
iPhone prices ‘risk doubling' if production moves to US
An iPhone made in America could cost 90pc more to make than it does now if Donald Trump maintains tariffs on China, a leading Wall Street bank has warned. With most of Apple's iPhones made in China, analysts at Bank of America have warned that shifting production to the US will be 'logistically challenging' and lead to a spike in costs. President Trump has raised tariffs on China to 125pc from 104pc, while also pausing higher tariffs for dozens of other nations for 90 days. However, they will be hit with a baseline rate of 10pc. The move is designed to push more manufacturing to America but doing so is likely to raise production costs, the bank warned. 'While it may be possible to move final assembly to the US, moving the entire iPhone supply chain would be a much bigger undertaking and would likely take many years, if even possible,' said a research note from the bank, which crunched the numbers using the 104pc tariff rate. The analysts said that iPhone costs could increase 25pc 'purely on higher labour cost in the US' but could spike much more if Apple has to pay tariffs on each small part. 'If Apple had to pay reciprocal tariffs to import sub-assemblies into the US, we see the total cost of an iPhone increasing 90pc+,' the analysts warned. The note has emerged days after Howard Lutnick, US Commerce Secretary, said in an interview that an 'army of millions and millions of human beings, screwing in little screws to make iPhones – that kind of thing is going to come to America'. Apple has already said that it will spend $500bn (£400bn) and hire 20,000 new staff in the US, although a large chunk of those jobs are expected to be in artificial intelligence. Trump's tariffs have prompted Apple's shares to spiral in recent days, which cost the company its spot as the world's most valuable company. The tariffs have originally impacted not only China but also Vietnam and India, where the tech giant has moved parts of its production in recent years. Mr Trump signalled on Wednesday he was pausing higher tariffs on these countries. Although the UK should, in theory, be unaffected, some UK-based experts believe there could also be some stockpiling here from distributors and shoppers. Harry Mills, of currency firm Oku Markets, said the increase in prices to consumers 'could be £300 or more as the tech giant updates its pricing to reflect its newly higher costs. 'The mobile phone sector moves quickly, and large wholesalers, distributors and resellers may stockpile devices ahead of anticipated price rises'. However, Ben Wood, an analyst at CCS Insight, said it 'would be a risky move' for UK businesses to stockpile iPhones given the continued uncertainty and rapidly changing situation. He said: 'Demand is unlikely to change dramatically in the UK at present, so the danger for any company taking this route is that they could be left with excess stock and an unwanted liability on their balance sheet.'
