Bitcoin has broken through $110,000, hitting a record high, and bullish sentiment among institutions is heating up.
Bitcoin (BTC) briefly touched a record high of $110,000 during trading on Wednesday, rebounding sharply from its April low of $75,000 and simultaneously tracking the recovery trend of global risky assets. The previous historical peak recorded by the Coinbase platform was $109,358, set on January 21 (the day former US President Donald Trump took office).
Jag Kooner, the head of derivatives business at Bitfinex, pointed out that this new high originated from “nearly perfect market conditions”, including the easing of geopolitical tensions, the improvement of the regulatory environment and favorable macroeconomic conditions, and said that Bitcoin may advance towards the range of $114,000 to $120,000 in the coming weeks. Geoffrey Kendrick, the head of digital asset research at Standard Chartered Bank, even predicted that BTC might reach $200,000 by the end of the year.
In addition, K33 analysts have proposed a “May holding without movement” strategy, believing that the crypto market will break the summer slump in 2025. Ki Young Ju, the CEO of CryptoQuant, also reversed his previous bearish stance, emphasizing that the integration of Bitcoin with traditional finance (TradFi) has rendered the “cyclical theory” ineffective.
An American tourist was attacked in London. $123,000 of his crypto assets were stolen by a fake driver who was addicted to drugs.
Jacob Irwin-Cline, a 30-year-old former software developer from Portland, Oregon, reported that after going out at night in Soho, London, he was fainted by a driver using a cigarette containing anisoolamine (commonly known as “devil’s breath”) while taking a fake Uber vehicle. The powerful sedative caused his memory loss and loss of consciousness. The driver took the opportunity to defraud his mobile phone and application passwords, and then abandoned him in the suburbs of London.
The victim later discovered that the encrypted wallet had been emptied, the laptop had been remotely formatted, and some of the funds had flowed to the MEXC and BTSE exchanges. The police in the City of London have confirmed their involvement in the investigation, but Irwin-Cline believes the probability of recovering funds is “less than 1%”.
Hong Kong has passed a stablecoin bill to establish a licensing regulatory system in response to global competition.
This move aims to establish a compliance framework and consolidate Hong Kong’s position as an international financial center in the global competition for crypto regulation.
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