$****BITCOIN****
📉 Market Correction
Bitcoin has experienced a significant correction, falling 7% from its all-time high of $111,880 to $104,000. This pullback is attributed to the economic uncertainty generated by a court decision in the U.S. that reinstates certain tariffs, raising bond yields and fostering risk aversion. Despite the drop, it is considered a healthy adjustment in a market that had experienced one of the fastest recoveries in cryptocurrency history.
🏛️ Institutional Initiatives
Trump Media Bitcoin ETF: Trump Media & Technology Group Corp (TMTG), owned by Donald Trump, is about to launch its own Bitcoin ETF called Truth Social Bitcoin ETF. The fund will operate under the Truth.Fi brand, in collaboration with Crypto.com as the custodian of the digital assets. Despite entering a saturated market with over 60 similar ETFs in the U.S., analysts believe that the Trump brand's backing could attract investment, although it may also generate controversy.
Proposals for Strategic Bitcoin Reserves: Parliaments in several countries have introduced bills to allow their respective central banks to hold a reserve of Bitcoin. For example, the Czech Republic has announced that it will consider holding up to 5% of its reserves in Bitcoin. Other countries that have proposed similar initiatives include Argentina, Brazil, Hong Kong, and Japan.
🌍 Global Trends
Argentina: Faced with an inflation rate of 276%, Argentinians are buying Bitcoins to protect themselves, instead of exchanging pesos for dollars. Bitcoin purchases on local platforms have reached record levels, reflecting a growing adoption of cryptocurrencies in the country.