Latest news with #StephaneIfrah
eNCA
09-05-2025
- Business
- eNCA
Bitcoin tops $100,000 for first time since February
LONDON - Bitcoin on Thursday topped $100,000 for the first time since February, as investors' appetite for riskier assets grew after Britain and the United States unveiled a trade deal. "Now that the United States appears more reasonable and concludes agreements with other countries, cryptocurrencies are on the rise again," said Stephane Ifrah, analyst at crypto platform Coinhouse. Bitcoin broke through the symbolic $100,000 threshold for the first time in December, reaching $109,241.11 on January 20 just a few hours before the inauguration of US President Donald Trump. The Republican leader vowed to support cryptocurrencies during his campaign for a second White House term. But a wave of US tariffs unleashed on countries around the world dampened financial markets, causing a wave of uncertainty. Even though they were not directly concerned by the Trump tariffs, cryptocurrencies have a reputation for volatility and investors swiftly fled for safer havens such as gold. The sector has also been dealt several blows amid scandals such as the collapse of the cryptocurrency $LIBRA, once backed by Argentine President Javier Milei. The price collapsed after a handful of early investors decided to sell at a huge profit, causing colossal losses for the majority of those who purchased $LIBRA. It also dragged down prices of other cryptocurrencies, including bitcoin. Argentine prosecutors are reportedly examining whether Milei engaged in fraud or criminal association, or was in breach of his duties, when he praised the $LIBRA cryptocurrency on social media in February. Also in February, Dubai-based cryptocurrency exchange Bybit reported that hackers stole $1.5 billion worth of digital assets in what marked the largest crypto theft in industry history. In early April, bitcoin dropped to $75,000. "Bitcoin is strong in line with the stock market," said Charlie Morris, analyst with ByteTree. "The UK trade deal is one good reason to be bullish because many more trade deals are likely to follow."
New Straits Times
09-05-2025
- Business
- New Straits Times
Bitcoin tops US$100,000 for first time since February
LONDON: Bitcoin on Thursday topped US$100,000 for the first time since February, as investors' appetite for riskier assets grew after Britain and the United States unveiled a trade deal. "Now that the United States appears more reasonable and concludes agreements with other countries, cryptocurrencies are on the rise again," said Stephane Ifrah, analyst at crypto platform Coinhouse. Bitcoin broke through the symbolic US$100,000 threshold for the first time in December, reaching US$109,241.11 on January 20 just a few hours before the inauguration of US President Donald Trump. The Republican leader vowed to support crypto currencies during his campaign for a second White House term. But a wave of US tariffs unleashed on countries around the world dampened financial markets, causing a wave of uncertainty. Even though they were not directly concerned by the Trump tariffs, crypto currencies have a reputation for volatility and investors swiftly fled for safer havens such as gold. The sector has also been dealt several blows amid scandals such as the collapse of the crypto currency $LIBRA, once backed by Argentine President Javier Milei. The price collapsed after a handful of early investors decided to sell at a huge profit, causing colossal losses for the majority of those who purchased $LIBRA. It also dragged down prices of other cryptocurrencies, including bitcoin. Argentine prosecutors are reportedly examining whether Milei engaged in fraud or criminal association, or was in breach of his duties, when he praised the $LIBRA cryptocurrency on social media in February. Also in February, Dubai-based cryptocurrency exchange Bybit reported that hackers stole US$1.5 billion worth of digital assets in what marked the largest crypto theft in industry history. In early April, bitcoin dropped to US$75,000. "Bitcoin is strong in line with the stock market," said Charlie Morris, analyst with ByteTree. "The UK trade deal is one good reason to be bullish because many more trade deals are likely to follow." In late April, the UK government published draft legislation aimed at regulating cryptocurrencies like bitcoin and ethereum, after the European Union introduced its own framework.
Free Malaysia Today
09-05-2025
- Business
- Free Malaysia Today
Bitcoin tops US$100,000 for first time since February
Bitcoin broke through the symbolic US$100,000 threshold for the first time in December. (EPA Images pic) LONDON : Bitcoin yesterday topped US$100,000 for the first time since February, as investors' appetite for riskier assets grew after Britain and the US unveiled a trade deal. 'Now that the US appears more reasonable and concludes agreements with other countries, cryptocurrencies are on the rise again,' said Stephane Ifrah, analyst at crypto platform Coinhouse. Bitcoin broke through the symbolic US$100,000 threshold for the first time in December, reaching US$109,241.11 on Jan 20 just a few hours before the inauguration of US President Donald Trump. The Republican leader vowed to support crypto currencies during his campaign for a second White House term. But a wave of US tariffs unleashed on countries around the world dampened financial markets, causing a wave of uncertainty. Even though they were not directly concerned by the Trump tariffs, crypto currencies have a reputation for volatility and investors swiftly fled for safer havens such as gold. The sector has also been dealt several blows amid scandals such as the collapse of the crypto currency $LIBRA, once backed by Argentine President Javier Milei. The price collapsed after a handful of early investors decided to sell at a huge profit, causing colossal losses for the majority of those who purchased $LIBRA. It also dragged down prices of other cryptocurrencies, including bitcoin. Argentine prosecutors are reportedly examining whether Milei engaged in fraud or criminal association, or was in breach of his duties, when he praised the $LIBRA cryptocurrency on social media in February. Also in February, Dubai-based cryptocurrency exchange Bybit reported that hackers stole US$1.5 billion worth of digital assets in what marked the largest crypto theft in industry history. In early April, bitcoin dropped to US$75,000. 'Bitcoin is strong in line with the stock market,' said Charlie Morris, analyst with ByteTree. 'The UK trade deal is one good reason to be bullish because many more trade deals are likely to follow.' In late April, the UK government published draft legislation aimed at regulating cryptocurrencies like bitcoin and ethereum, after the European Union introduced its own framework.
Express Tribune
08-05-2025
- Business
- Express Tribune
Bitcoin breaks $100k barrier for first time in months
Bitcoin soared past the $100,000 mark on Thursday for the first time in three months, buoyed by growing investor confidence in riskier assets following the announcement of a new trade agreement between the United States and the United Kingdom. The world's largest cryptocurrency climbed 5.3% over the past 24 hours to reach $101,293, according to data from CoinDesk. The rally marked a significant milestone for Bitcoin, which had not breached the $100,000 threshold since February. Analysts pointed to improving geopolitical sentiment as a key driver behind the surge. "Now that the United States appears more reasonable and concludes agreements with other countries, cryptocurrencies are on the rise again," said Stephane Ifrah, an analyst at crypto platform Coinhouse. The breakthrough came after President Donald Trump unveiled what he described as a 'full and comprehensive' trade agreement with the UK—marking the first major trade deal since his Liberation Day tariff announcement in April, which introduced sweeping reciprocal tariffs on several U.S. trading partners. While details of the pact remain limited, Commerce Secretary Howard Lutnick stated the agreement would boost British imports of US goods, particularly in agriculture, including ethanol, beef, and industrial machinery. Trump confirmed the deal on Truth Social, adding that several more agreements were in 'serious stages of negotiation.' The announcement helped buoy not only cryptocurrencies but also global stock markets, as investors welcomed a sign of de-escalation in recent trade tensions. Cryptocurrencies, often viewed as high-risk assets, typically mirror broader market sentiment. They tend to perform well in times of economic clarity and drop during uncertainty or macroeconomic stress. Bitcoin's latest rally reflects a shift in investor mood, following the Federal Reserve's decision on Wednesday to keep interest rates steady amid what Chair Jerome Powell described as 'extremely elevated' uncertainty. With the trade deal offering a glimmer of stability, the crypto market appears to have regained its footing. However, it remains to be seen whether Bitcoin's momentum can be sustained in the weeks ahead.
