Bitcoin has surged past $100,000, driven by institutional demand and the launch of spot Bitcoin ETFs, pushing its market cap close to $2 trillion. Following this momentum, Ethereum is targeting $10,000, bolstered by strong staking rewards and institutional interest, with analysts noting key technical indicators that suggest a potential breakout. Regulatory changes in the U.S. could further enhance Ethereum's position in the market.
Bitcoin surged past $100,000 for the first time, reaching $102,874.00, following President-elect Donald Trump's announcement of Paul Atkins as SEC chair, signaling a potential shift towards a more favorable regulatory environment for cryptocurrencies. Federal Reserve chair Jerome Powell likened bitcoin to digital gold, while institutional interest grows with the launch of spot bitcoin ETFs by major firms. Optimism surrounds the new administration's pro-crypto initiatives, suggesting a significant shift towards mainstream acceptance of digital assets.
Cleerly, a cardiovascular imaging startup, has raised $106 million in a Series C extension round led by Insight Partners to enhance its AI-driven heart disease detection technology. Founded by cardiologist James Min, the company aims to identify early-stage coronary artery disease through CT scans, potentially transforming heart health screening. With Medicare's recent approval for its plaque analysis test, Cleerly is positioned for significant growth as it seeks regulatory approval for broader screening applications.
Kelvin Tay, UBS's South-APAC CIO, expressed that he would allocate at least 10% of his personal assets to cryptocurrency if not restricted by his role. He noted Bitcoin's growing legitimacy, driven by products like BlackRock’s iShares Bitcoin Trust, and emphasized the importance of diversification in investment portfolios. Despite his optimism, he cautioned against the temptations of volatility, advising investors to maintain discipline.
Goldman Sachs has disclosed $718 million in Bitcoin ETF holdings, marking a significant shift from its previous skepticism towards digital assets. The largest investment is in BlackRock’s iShares Bitcoin Trust ETF, totaling approximately $461 million, with a 71% increase in holdings since last quarter. This change reflects a reevaluation of the bank's strategy amid growing institutional interest in Bitcoin.
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