🚀 Major Market Moves

Bitcoin (BTC) has surged past $104,000, approaching its all-time high of $108,700. This rally is fueled by optimism surrounding U.S.-China trade talks and a new U.S.-U.K. trade agreement, which have bolstered investor confidence across global markets.

Altcoin Season Emerges: Bitcoin's dominance has dipped below 64%, signaling a shift towards altcoins. Ethereum (ETH) has risen nearly 13%, while Solana (SOL), Dogecoin (DOGE), and Cardano (ADA) have each gained over 6%. This trend suggests a potential rotation into altcoins after months of Bitcoin outperformance.

🏦 Institutional and Government Actions

Coinbase Acquires Deribit: Coinbase has announced a $2.9 billion acquisition of Deribit, the world's largest crypto options platform. This strategic move aims to strengthen Coinbase's position in the crypto derivatives market and accelerate its global expansion.

U.S. Establishes Strategic Bitcoin Reserve: President Donald Trump has signed an executive order to create a Strategic Bitcoin Reserve, utilizing seized assets to bolster the U.S. government's crypto holdings. This initiative positions the U.S. as the largest known state holder of Bitcoin, with approximately 200,000 BTC.

New Hampshire Leads with State Crypto Reserve: New Hampshire has become the first U.S. state to establish a cryptocurrency reserve, allowing up to 5% of public funds to be allocated into digital assets like Bitcoin. This move is seen as a potential catalyst for further adoption at the state level.

⚖️ Political and Regulatory Developments

Controversy Over Trump's Crypto Deal: A $2 billion cryptocurrency deal involving former President Trump's family and a foreign government has sparked political backlash in Congress. Senate Democrats have introduced legislation to prohibit federal officials and their families from engaging in cryptocurrency activities, citing concerns over conflicts of interest and national security risks.