Crypto analyst Jamie Coutts cautioned traders to “be careful” when margin trading Bitcoin, given the growing strength of the US dollar.
Inflation news
The United States dollar has lost approximately 96% of its value since the Federal Reserve Bank was established in 1913.
Ethereum’s market cap tops Bank of America, while the SEC weighs spot ETH ETF options and DeFi gains traction.
Bitcoin price hit a new all-time high above $76,850, and multiple data points suggest that the rally has room to run higher.
By integrating Bitcoin into client portfolios, Strive’s new wealth management unit can in part offer Americans “true financial freedom,” its CEO Matt Cole said.
Gold and silver are halfway into a “decade-long bull market,” and Bitcoin is one narrative catalyst away from rallying to $100,000, according to 1971 Capital CIO Brian Russ.
Bitcoin may strengthen its status as a hedge against monetary debasement due to China’s plans for over $1.4 trillion in new debt, raising interest among traders.
Deficit spending and lower interest rates have boosted global liquidity higher, benefiting Bitcoin and related markets, Blockware’s Mitchell Askew said.
Bitcoin price rallies as traders react to geopolitical and economic uncertainty, as the potential outcome of the upcoming US election.
According to the paper, central banks collectively hold $2.2 trillion in gold as of Q1 2024 and continue to expand their gold allocations.