New EU regulations on crypto assets, set to take effect in a few days, are already reshaping the stablecoin market. Many European crypto exchanges are delisting USDT to comply with MiCA requirements, leaving investors searching for alternative stable assets.
Following a market slump triggered by Federal Reserve Chair Jerome Powell’s hawkish remarks, Ark Invest has sold shares of Coinbase.
In Trump Truth, Arthur Hayes, co-founder of BitMEX, analyzes the economic and market implications of Donald Trump regaining the U.S. presidency. Hayes draws fascinating connections between fitness challenges and Trump’s disruptive truth-telling in global politics.
The crypto market saw massive liquidations in the last 24 hours. According to CoinGlass data, 563,432 traders were liquidated, with the total liquidation amount exceeding $1.7 billion.
Between December 19 and 20, the crypto market plunged once again. Bitcoin fell below the $93,000 mark, while ETH lost 30% over a few days, declining from $4,100 to nearly $3,100. The last time ETH reached this price was a month ago.
A sudden market downturn saw Bitcoin slipping under the $100,000 threshold on December 18-19. This followed the Federal Reserve’s 25 basis point rate cut announcement and comments from Fed Chair Jerome Powell during a press briefing.
With the MiCA (Markets in Crypto-Assets) framework coming into effect, the European crypto market is seeing profound changes. A joint study by Kaiko and Bitvavo highlights rising euro trading volumes and a reshaped stablecoin market landscape.
MicroStrategy, the largest corporate holder of Bitcoin, is included in the Nasdaq-100 stock market index, set to take effect on December 23.
Anticipated rate cuts from the U.S. Federal Reserve are met with the growing challenge of inflation, leaving uncertainty about the regulator’s next monetary policy moves. This is shaping market trends, particularly in crypto.
Goldman Sachs CEO David Solomon has stated that the company might explore BTC and ETH spot trading if regulatory conditions in the U.S. improve.
The latest crypto rally brings stablecoins to the forefront, as their total market capitalization surpasses $200 billion for the first time in history.
