Bitcoin’s price is seeing a slight recovery, trading above $80,000 after a nearly 3% drop. However, institutional interest seems weak, with a significant outflow from US spot ETFs. Upcoming US inflation data could lead to more volatility for Bitcoin and other risky assets. Meanwhile, Cardano has bounced back by around 4%, trading near $0.70, as positive on-chain metrics suggest further recovery. In political news, Donald Trump plans to sign an executive order to improve banking access for cryptocurrency businesses, aiming to reverse strict regulations that have hindered the industry. This move could create new opportunities for crypto-friendly banks in the US.
Bitcoin Price Updates and Regulatory Changes in Cryptocurrency
Bitcoin, currently trading above $80,000, has experienced a slight recovery after a nearly 3% drop the previous day. Institutional interest appears to be wavering as evidenced by a significant outflow of $278.40 million from US spot Exchange Traded Funds (ETFs) on Monday. Market watchers are anticipating the upcoming Consumer Price Index (CPI) data release on Wednesday and the Producer Price Index (PPI) on Thursday, which could create further volatility for Bitcoin and other risky assets.
In other cryptocurrency news, Cardano has seen a 4% increase, bringing its price to around $0.70 after a steep 7% decline. Positive on-chain metrics indicate that Cardano is on the mend, with its funding rate turning positive and bullish bets reaching their highest point in a month.
Additionally, significant changes may be on the horizon for the cryptocurrency banking sector. Former President Donald Trump is poised to sign an executive order that could ease banking restrictions for cryptocurrency businesses. This move is intended to reverse what many in the industry have described as Operation Choke Point 2.0, which has imposed barriers for crypto banks operating within the traditional finance system. By lifting these restrictions, Trump’s order could potentially reshape the digital asset landscape in the United States, paving the way for more opportunities for crypto-friendly financial institutions.
With these developments, both Bitcoin and Cardano are at crucial points in their Market journeys, influenced by regulatory changes and economic data releases. Investors and enthusiasts alike are urged to stay informed as the digital asset space continues to evolve.
Tags: Bitcoin, cryptocurrency, Cardano, ETF, Donald Trump, Executive Order, regulation, Market update, digital assets.
What is Bitcoin?
Bitcoin is a type of digital money. It allows people to send and receive payments over the internet without needing a bank. It’s based on a technology called blockchain, which makes it secure and transparent.
How does Cardano differ from other cryptocurrencies?
Cardano is unique because it focuses on sustainability and scalability. It aims to create a more secure and efficient blockchain. Unlike other cryptocurrencies, it uses a scientific approach to development, ensuring strong research backing its features.
Is cryptocurrency safe to invest in?
Investing in cryptocurrency carries risks, just like any investment. The value can go up and down quickly. It’s important to do your own research and only invest what you can afford to lose.
How do I purchase Bitcoin or Cardano?
You can buy Bitcoin or Cardano on various online exchanges. Simply create an account, deposit money, and then purchase the cryptocurrency. Make sure to choose a reliable exchange for safety.
What should I know about crypto regulations in Europe?
Crypto regulations in Europe are evolving. Most countries are working to create clear rules to protect investors and prevent fraud. It’s important to stay informed about the regulations in your country to ensure you comply with the law when investing in cryptocurrency.