This past week in crypto news saw Bitcoin hitting $108K before pulling back, ETFs surpassing gold in global inflows, and Ripple introducing its RLUSD stablecoin. Meanwhile, Trump appointed Bo Hines to lead the new Digital Asset Council, signaling a stronger focus on crypto policies. Let’s dive into the highlights shaping the crypto world.
Bitcoin Climbs Past $108K Amid Holiday Volatility
Bitcoin broke past the $108,000 mark earlier this week, fueled by bullish momentum and strong market fundamentals. However, a wave of profit-taking during the holiday period caused a sharp pullback, with Bitcoin now trading around $94,000. Analysts believe this correction is a natural part of its rally, as short-term volatility often follows major price milestones.
Despite the drop, the MVRV indicator shows Bitcoin remains undervalued, and many investors are optimistic about its long-term trajectory. With institutional interest holding steady and predictions of Bitcoin potentially reaching $210,000 in the next cycle, the leading cryptocurrency continues to dominate market discussions.
Bitcoin ETFs Surpass Gold ETFs in Global Inflows
Bitcoin has reached another major milestone in its journey toward mainstream adoption. For the first time ever, Bitcoin exchange-traded funds (ETFs) have overtaken gold ETFs in total global inflows. Currently, Bitcoin ETFs hold $51 billion, surpassing gold ETFs, which stand at $48 billion. This shift highlights the increasing recognition of Bitcoin as a valuable and trusted asset in financial markets.
ETFs (exchange-traded funds) are investment products that allow people to invest in assets like Bitcoin or gold without needing to own them directly. This makes it easier for both institutional investors and individuals to participate in the crypto market. The fact that Bitcoin ETFs are now outperforming their gold counterparts signals growing confidence in digital assets as a reliable store of value and an investment choice.
Trump Appoints Bo Hines to Lead Digital Asset Council
President Donald Trump has announced the appointment of Bo Hines to chair the newly established Presidential Council on Digital Assets. Hines, a pro-crypto advocate, will play a crucial role in shaping U.S. policies on blockchain technology and cryptocurrencies.
The council aims to foster innovation while addressing regulatory challenges, signaling the administration’s commitment to positioning the United States as a global leader in digital assets. Hines’ appointment has been well-received by the crypto community, fueling optimism about a more supportive regulatory environment.
Ripple Labs Introduces RLUSD Stablecoin
Ripple Labs has unveiled its RLUSD stablecoin, designed to facilitate faster and more cost-effective cross-border transactions. Built on Ripple’s proprietary blockchain technology, RLUSD aims to bridge the gap between fiat currencies and cryptocurrencies, offering a seamless solution for global payments.
The introduction of RLUSD further strengthens Ripple’s position as a pioneer in financial innovation, leveraging blockchain to disrupt traditional banking systems. As stablecoins gain traction in the crypto market, RLUSD could emerge as a key player in revolutionizing the way money moves globally.
From Bitcoin’s holiday rally and ETF milestones to Ripple’s innovative stablecoin and Trump’s pro-crypto moves, this week’s crypto news highlights the growing influence of digital assets in the global economy. Stay tuned for next week’s updates, and don’t forget to revisit last week’s crypto news to stay informed about the latest developments.
