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Blogs, news and announcements – page 21

2025-01-07-1US

Andrew FentonMarket update

BTC US$102K. Bull market resumes after Christmas lull

Instead of the usual Santa Claus Rally, crypto spent the dying days of 2024 paring back gains made after the election of the pro-crypto Trump administration. Bitcoin fell around 15% in total to just under A$148K/US$92K as the year ended but has since gained 10.3% in the past week to trade at A$163,543/US$102,713 amid corporate buys and a resurgence of inflows into the Bitcoin ETFs. Ethereum gained 10.7% in the past seven days to trade at A$5,894/US$3,700, and investors have withdrawn more than 80,000 ETH from exchanges over that period. XRP has once again overtaken USDT for the number 3 spot, with a 17.7% gain this week. Solana was up 13%, Dogecoin gained 22%, Cardano rose 27%, and Shiba Inu increased 14.1%. The strong US dollar eased back amid reports that Trump’s universal tariffs plan will be more targeted, and US jobs data will come out at the end of the week, which may impact prices. The Crypto Fear and Greed Index is at 76, or Extreme Greed.

Andrew FentonMarket update

BTC US$106k. New Bitcoin highs. US Bitcoin Reserves looks promising.

Bitcoin has again broken through to new highs this week, hitting A$169.22K/US$108.1K, as the mining hashrate broke through 800 EH/s and the BTC/Gold ratio hit a record high. Ethereum has notched up its best price in three years to reach A$6,445/US$4,088, about 16% off a new all-time high. Speculation over an imminent US Bitcoin Reserve, new FASB accounting rules that encourage more companies to hold Bitcoin, and the glow of an incoming pro-crypto administration have all boosted the price, along with huge Bitcoin buys by MicroStrategy and inflows into the Bitcoin ETFs over the past month. This week, interest rate decisions were made in five G10 countries, including the US, where a 25 basis point cut is widely expected. After a huge rise over the past two years, Solana’s momentum has stalled over the past month as Bitcoin gained 16.7% and Ethereum rose 28.9%. Bitcoin finished the week up 9% to trade around A$165,563 (US$106,008), while Ethereum gained 7% to trade around A$6,297 (US$4,011). Solana and Shiba Inu were flat this week, XRP gained 11%, Dogecoin fell 3%, and Cardano increased 5%. The Crypto Fear and Greed Index is at 83, or Extreme Greed.

Ben RobertsKnowledge base

Know the fees charged by crypto exchanges in Singapore

In this article, we’ll examine fee structures, the reasons they are charged, and factors that can impact the final price of your transaction. When do cryptocurrency exchanges charge a fee? As with your regular bank account, fees can apply to specific transactions within a cryptocurrency exchange. Cash (fiat) deposits Most exchanges in Singapore accept Singapore […]

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Andrew FentonMarket update

BTC US$98k. Bitcoin reaches US$100K as SEC leadership takes a crypto-friendly turn

It's been another historic week, with Bitcoin crossing the US$100K (A$155.3K) mark for the first time and hitting a new all-time high of US$103,900 (A$161.3K). MicroStrategy is doing its best to keep us at these levels, with another US$2.1B (A$3.26B) buy, but long-term holders have been taking profits selling 828K Bitcoin in the past month. Amazon, the US state of Florida and even the Russian State Duma Deputy have all floated the idea of establishing a Bitcoin reserve. ETH crossed US$4,000 (A$6,209), Solana’s market cap looks vulnerable to being flipped by BNB, and the altcoin market cap and the stablecoin market cap are both at or near all-time highs. CoinShares reports digital asset investment took a record $3.85B in a week. However, a pullback in the past 24 hours has moderated some of the excitement. Bitcoin finishes the week up 2% to trade around US$98,121 (A$151,587). Ethereum is up 6% to trade around US$3,739 (A$5,777). XRP fell 17%, alongside Solana (falling 3%), Cardano (down 16%), and Shiba Inu (down 6.1%). Dogecoin is flat this week. The Crypto Fear and Greed Index is at 78, or Extreme Greed.

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Andrew FentonMarket update

BTC US$96k. US$26K monthly gain: Bitcoin’s historic November rally

Bitcoin has just seen the biggest monthly candle in USD terms in history (A$40K/US$26K), with the price increasing 37% in November after the election. While there are some headwinds (the US government has just transferred A$1.45B/US$963M in seized Bitcoin (possibly to sell or possibly for custody), that amount pales in comparison to the A$9.9B/US$6.4B inflows into the Bitcoin ETFs in November. Bitcoin is currently up 1% for the week to trade around A$147,702 (US$96,110), while Ethereum gained 6% to trade around A$5,643 (US$3,653). XRP is back at 2018 prices, rewarding the faithful with another astonishing 90% gain this week. Solana fell 5%, with XRP overtaking it in market cap. Dogecoin gained 5%, Cardano rose 23%, and Shiba Inu increased 16%. The Crypto Fear and Greed Index is at 80, or Extreme Greed.

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Andrew FentonMarket update

BTC US$94k. Independent Reserve Crypto Exchange and Organisation of the Year

A massive Bitcoin sell wall at the psychological US$100K (A$153.8K) mark is proving difficult to overcome. Paul Howard, senior director at crypto trading firm Wincent, told CoinDesk it's unlikely to fall any time soon. "I would expect we oscillate around these levels until the new year," he told CoinDesk. Bitcoin finishes the week up 2.6% to trade around A$144,150 (US$93.9K). Microstrategy's Michael Saylor announced it had acquired another 55,500 Bitcoin today, and Galaxy Research says that most Bitcoin selling is coming from 2024 buyers who got in above A$86.1K/US$56K. The ETH/BTC ratio hit its lowest level in three years last week (0.0318) but bounced 15% to 0.3660 as Ethereum gained while Bitcoin retreated. Ethereum finished the week up 10% to trade around A$5,302 (US$3,411), and Bitcoin dominance has fallen slightly to 57.4%. Solana hit a new all-time high this week but fell back to finish the week -2%. Other altcoins have surged, including XRP, which gained 29%, and Cardano — which has just been awarded an A- rating by Weiss Crypto — gained 27%. Dogecoin rose 5%, and Shiba Inu was flat. The Crypto Fear and Greed Index is at 82, or Extreme Greed.

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Andrew FentonMarket update

BTC US$90k. Bitcoin nears US$100K, but SOL and XRP steal the spotlight

Crypto publications are busy prepping their ‘Bitcoin breaks US$100K’ articles (A$154K), and MicroStrategy’s Michael Saylor is already organising a party. With Bitcoin trading in a 7% range this week and nudging A$143K/US$93K on November 13, the milestone doesn’t seem far off. Retail appears to be coming back with a big increase in BTC transactions with values under A$154K/US$100K, and new money is flowing in with the total stablecoin index hitting a new all-time high. Bitcoin reserves on exchanges are at lows last seen in 2018, and Bitcoin futures open interest is at an all-time high. That said, while the future for crypto looks bright, the Buffett Indicator (which takes the market cap of total US stocks and divides it by the US GDP) also sits at a record 208% — and topping 100% is considered an early warning of a potential crash. Bitcoin's ATH comes at the expense of the ETH/BTC chart, which has fallen to 0.03367. Bitcoin finishes the week up 2% to trade around A$139,288 (US$90,147), while Ethereum fell 4% to A$4,925 (US$3,187). Solana gained another 10% as trading volume hit a new record. But SOL was outshone by XRP, which is up 86% this week. Cardano was up 24%, Dogecoin was up 3% (and 163% for the month), while Shiba Inu fell 18%. The Crypto Fear and Greed Index is at 90, or Extreme Greed.

Andrew FentonMarket update

BTC US$89k. Trump’s win sparks crypto market frenzy: What’s next for the market?

Crypto markets are euphoric following pro-crypto candidate Donald Trump’s US election victory and the promise of a fresh start for the industry. Bitcoin has surged to a new inflation-adjusted all-time high and keeps going up. At the time of writing, it had gained 19.4% on a week ago to trade at A$135,190 (US$89,328). Analyst James Check said Bitcoin has entered the “euphoria zone by convincingly breaking through the previous cycle's ATH." Ethereum gained 40% this week to trade around A$5,115 (US$3,346). It’s expected to benefit considerably from the new administration, as many of the most interesting and useful financial use cases on ETH have been under a regulatory cloud for years. Solana also gained 40% and is only the fourth cryptocurrency to top an A$152B/US$100B market cap, XRP gained 22%, while Cardano surged 86% after founder Charles Hoskinson talked up his influence in Washington. Dogecoin gained 109%, as Elon Musk's Department of Government Efficiency (DOGE) looks like it is becoming a reality, and fellow dog coin Shiba Inu gained 62%. The Crypto Fear and Greed Index is at 76, or Extreme Greed.