#CryptoMarket4T
The cryptocurrency market has been experiencing significant fluctuations, with some key developments driving the current trends. Here are some of the latest updates:
*Market Performance:*
- The crypto market capitalization crossed $4 trillion for the first time, marking a new all-time high.
- Bitcoin and Ethereum led the rally, with Ethereum's price surging to around $3,580 and Bitcoin consolidating amid ETF inflow surges.
- The Fear and Greed Index reached 71, indicating intense greed levels among investors, with a combined worldwide cryptocurrency trading volume of $298 billion ¹ ².
*Notable Investments and Partnerships:*
- *Standard Chartered's Prediction:* The bank reaffirmed its year-end Bitcoin price forecast of $200,000, citing ETF flows and corporate treasury demand.
- *Thomas Lee's Investment:* Wall Street analyst Thomas Lee invested $1 billion in Ethereum via BitMine.
- *Adam Back's BSTR:* Bitcoin Standard Treasury Reserve plans to merge with Cantor Equity Partners I and acquire approximately 30,000 Bitcoin, raising up to $1.5 billion in financing ³ ⁴ ⁵.
*Regulatory Developments:*
- *US Stablecoin Ban:* The recent GENIUS bill signed by President Trump bans yield-bearing stablecoins, potentially increasing interest in Ethereum-based DeFi platforms.
- *Tether's Compliance:* Tether plans to align USDT with GENIUS Act regulations ⁴.
*Other Key Updates:*
- *NFT Sales:* Weekly NFT sales jumped 29% to $159.6 million, with Ethereum and Bitcoin's rally contributing to the surge.
- *Liquidations:* The cryptocurrency market experienced liquidations of around $816 million in the last 24 hours, with long positions contributing $541 million and short positions $275 million ⁵ ⁴.
