Market Update
Bitcoin bulls lift their price target to $137,000 as odds of a Federal Reserve rate cut increase.
7094
Dollar News
The dollar is the national currency of the United States and some other countries. Some of the most common currencies using the dollar moniker are the U.S. dollar, the Canadian dollar and the Australian dollar. Since World War II, it has been the world’s primary reserve currency. In 1971, U.S. President Richard Nixon depegged the dollar from gold, making it a fiat currency. Dollarization in other countries allows citizens to use it unofficially.
In contrast, Bitcoin, a decentralized digital currency, challenges the dollar’s hegemony. Discussions on de-dollarization arise as countries seek to diversify financial systems, reducing reliance on the dollar. This shift raises questions about the dollar’s long-term status and prompts reevaluations of global economic strategies.
The Federal Reserve System holds the authority to issue U.S. dollars, and all dollar bills issued since 1861 remain legal tender. The dynamic interplay between the dollar, Bitcoin and de-dollarization underscores the evolving landscape of global finance.
- Price Analysis
Bitcoin is facing selling near $123,218, but it remains on track to hit a new all-time high as long as it sustains above $117,000.
12149 - News
Bitcoin’s corporate adoption is increasingly resembling the “nationalization path” of gold leading up to 1971, presenting a new centralization concern, according to Willy Woo.
8372 - News
Bitcoin is the “perfect asset” for the next 1,000 years, but it needs far bigger flows to compete with the US dollar and gold, a Bitcoin OG said.
7532 - Market Analysis
Bitcoin benefits from a weaker dollar, but credit market signals warn of possible investor caution that could prevent the bulls from making a run at $120,000.
4024 - Price Analysis
Bitcoin is trying to start a recovery from $112,000, but bears may pose a substantial challenge at $117,000 and then at $120,000.
9738 - News
ECB Executive Board member Piero Cipollone said that a digital euro will not replace physical money but complement it to preserve payment autonomy.
3933 - News
Bolivia has signed an agreement with El Salvador to promote crypto as an alternative to traditional currencies amid its ongoing economic crisis.
4884 - Price Analysis
Data shows Bitcoin is preparing for a sharp breakout from its range-bound action in the next few days.
8075 - News
The US Genius Act is similar to Europe's MiCA in spirit, but also is "more lenient" in some areas, ECB adviser Jürgen Schaaf said.
10888 - Price Analysis
Bitcoin continues to face selling near $120,000, but the bulls have kept up the pressure, increasing the likelihood of an upside breakout.
10762 - News
The decline of the US dollar and the loss of purchasing power due to fiat currency inflation will drive global demand for Bitcoin.
17357 - Market Update
Rising US inflation tempers investors’ interest rate cut hopes, leaving Bitcoin at a critical juncture below $120,000.
3096 - Price Analysis
Bitcoin holds above $120,000 as corporate crypto treasury building and robust spot BTC ETF buying continue to support the new price range.
19274 - Explained
By securing a national trust charter, USDC’s issuer, Circle, plans to directly manage its $62-bilion reserves.