Latest news with #Puckrin
Business Insider
08-05-2025
- Business
- Business Insider
Bitcoin just hit $100,000 for the first time in 3 months
Bitcoin reclaimed the six-figure mark on Thursday, crossing $100,000 for the first time in three months. The top crypto hit an intraday high of $101,370, the highest level since early February. A number of tailwinds have boosted the token recently, but broadly it has been moving in line with other risk assets like stocks, as markets settle down after April's historic bout of volatility stemming from tariffs. Similar to stocks, bitcoin gained on Tuesday on news that the White House had reached a trade agreement with the UK—a positive sign that could help unwind last month's tariff uncertainty and reignite risk appetite among investors. Analysts have also suggested that April's trade chaos may positioned bitcoin to climb as tariffs diminish the appeal fo safe havens like the US dollar and Treasurys. Standard Chartered said that inflows into spot bitcoin ETFs have surged to $5.3 billion over the past three weeks, suggesting that demand has ballooned since mid April. Meanwhile, New Hampshire and Arizona gave crypto bulls more to be excited about, introducing the country's first crypto reserves this week. But to Zack Shapiro, head of policy at the Bitcoin Policy Institute, the impact of state crypto reserves is likely to be small compared to Wall Street's soaring appetite. Institutional interest is helping send bitcoin higher, as companies have entered something on an "arms race" to acquire a meaningful stake, he told BI. Strategy, at the forefront of this effort, is now funding a plan to spend $84 billion on more bitcoin acquisitions, Standard Chartered wrote. Given these factors, bitcoin should make new highs this quarter, the bank's global head of digital assets research wrote on Thursday. The bank has predicted the token to hit $120,000 in the second quarter but said in the note that the target might be too low. But others think that while progress on trade gives bitcoin fuel for more gains in the near term, heightened volatility is still a risk for traders as tariff uncertainty stays high. "Plus, at the moment, BTC is rallying on low volume, which is a recipe for short-term volatility," Puckrin said.
Business Mayor
04-05-2025
- Business
- Business Mayor
There's No Altseason Without These 3 Key Indicators, Analyst Says
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure CEO and Co-founder of crypto education media firm Coinbureau, Nic Puckrin has shared a 'realistic' take on the altseason. The former TradFi entrepreneur and prominent digital asset advocate has highlighted three necessary conditions to usher in an altseason. Altseason Still On Ice: What Needs To Change The altseason defines a period in the crypto bull market where altcoins significantly outperform Bitcoin. It is an entirely anticipated event, presenting investors with the opportunity to register massive profits due to the smaller market caps of altcoins compared to Bitcoin. However, the potential of altseason in the current bull cycle has been previously questioned, with analysts citing the rising number of altcoins compared to previous cycles. In contributing to this discourse, Puckrin states that an altseason usually occurs 320 days after the Bitcoin halving, a target that has been met following the last halving in April 2024. However, Pukrin explains an altseason for this current bull cycle can only occur following the development of three crucial signals. Firstly, the analyst states that Bitcoin dominance must fall below 54%. The Bitcoin dominance measures BTC's share of the total crypto market. It represents the percentage of crypto investment that is in Bitcoin. Notably, an altseason only occurs after Bitcoin Dominance begins to fall, indicating that investors are rotating their capital into altcoins. Nic Puckrin explains that Bitcoin Dominance must stop rising and fall below the 54% threshold to confirm this rotation. However, despite the need for this fall in BTC Dominance, the Coin Bureau boss further states that Bitcoin must break above its current all-time high to induce an altcoin bull market. However, the premier cryptocurrency must achieve this feat without pulling all the liquidity from the market. It is worth noting that in prior cycles, an altcoin market rally comes after Bitcoin establishes market dominance, then consolidates, giving room for investors to move their liquidity to lower-cap speculative assets. Nic Puckrin's final condition states the US Federal Reserve must cease all Quantitative Tightening (QT) measures and confirm incoming rate cuts to counter the current interest rates above 4%. In doing so, the Fed can induce in rise in market liquidity, which is necessary for altseason. Crypto Market Overview At the time of writing, the total crypto market has now reclaimed the $3 trillion mark following the general bullish swing in the past week. Meanwhile, market trading volume is down by 16.82% and valued at $68.83 billion. Notably, the altcoin season index is still at 21, indicating that Bitcoin still outperforms a large percentage of the altcoin market, and there is no altseason in view for now. Historically, altseasons occur when the index is above 75, which indicates broad-based strength across altcoins. Total crypto market cap valued at $2.96 trillion on the daily chart | Source: TOTAL chart on Featured image from Pexels, chart from Tradingview
