Bitcoin Hits Six-Week High in Wake of Trump's Pro-Crypto Speech

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Bitcoin Hits Six-Week High in Wake of Trump's Pro-Crypto Speech

Bloomberg07-29

Expectations of Fed rate cuts are also helping the market moodOriginal cryptocurrency is about $4,400 shy of its record highBitcoin touched the highest level since mid-June after Donald Trump expanded...

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Goyanz
·07-29
Trumps speech was terrible, RFK had a better future for bitcoin. I don't think Trumps speech made a difference to the bitcoin price.
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Smaller tokens such as Ether, Solana and meme-crowd favorite Dogecoin also pushed higher.</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/2cf100bbc9860bf62adbbbdc8e53986b\" tg-width=\"1200\" tg-height=\"675\"/></p><p>Republican presidential nominee Trump pledged at a weekend conference to make the US the “crypto capital of the planet and the Bitcoin superpower” if he returns to the White House following November’s election.</p><p>Trump also said that he will order the US government to refrain from selling crypto seized in criminal cases and instead use the tokens as the basis for what he called a strategic Bitcoin stockpile.</p><p>The former president’s speech at the Bitcoin event in Nashville cemented the original cryptocurrency “as a key election trade,” Chris Weston, head of research at Pepperstone Group, wrote in a note.</p><p>Meanwhile the Fed meeting later this week is expected to lay the groundwork for the start of a rate-cutting cycle, a prospect that lifted the mood in markets.</p><p>Bitcoin is about $4,400 below a record of nearly $74,000 hit in March. Inflows into dedicated US exchange-traded funds have boosted the token this year.</p></body></html>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Bitcoin Hits Six-Week High in Wake of Trump's Pro-Crypto Speech</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nBitcoin Hits Six-Week High in Wake of Trump's Pro-Crypto Speech\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-07-29 13:02 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2024-07-29/bitcoin-btc-hits-six-week-high-in-wake-of-trump-s-pro-crypto-speech?srnd=homepage-asia><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Expectations of Fed rate cuts are also helping the market moodOriginal cryptocurrency is about $4,400 shy of its record highBitcoin touched the highest level since mid-June after Donald Trump expanded...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2024-07-29/bitcoin-btc-hits-six-week-high-in-wake-of-trump-s-pro-crypto-speech?srnd=homepage-asia\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"NCTY":"第九城市","COIN":"Coinbase Global, Inc.","MSTR":"MicroStrategy","MARA":"Marathon Digital Holdings Inc","CLSK":"CleanSpark, Inc.","BTBT":"Bit Digital, Inc."},"source_url":"https://www.bloomberg.com/news/articles/2024-07-29/bitcoin-btc-hits-six-week-high-in-wake-of-trump-s-pro-crypto-speech?srnd=homepage-asia","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1134297291","content_text":"Expectations of Fed rate cuts are also helping the market moodOriginal cryptocurrency is about $4,400 shy of its record highBitcoin touched the highest level since mid-June after Donald Trump expanded his pro-crypto agenda and as expectations for US Federal Reserve interest-rate cuts bolstered investor sentiment.The largest digital asset rose as much as 2.6% on Monday and changed hands at $69,462 as of 11:40 a.m. in Singapore. Smaller tokens such as Ether, Solana and meme-crowd favorite Dogecoin also pushed higher.Republican presidential nominee Trump pledged at a weekend conference to make the US the “crypto capital of the planet and the Bitcoin superpower” if he returns to the White House following November’s election.Trump also said that he will order the US government to refrain from selling crypto seized in criminal cases and instead use the tokens as the basis for what he called a strategic Bitcoin stockpile.The former president’s speech at the Bitcoin event in Nashville cemented the original cryptocurrency “as a key election trade,” Chris Weston, head of research at Pepperstone Group, wrote in a note.Meanwhile the Fed meeting later this week is expected to lay the groundwork for the start of a rate-cutting cycle, a prospect that lifted the mood in markets.Bitcoin is about $4,400 below a record of nearly $74,000 hit in March. 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