Bitcoin Hits New All-Time High
Good morning, everyone! Bitcoin has hit a new all-time high, breaking $106,488. European Bitcoin traders also celebrated hitting €100,000 per Bitcoin. Let’s dive into the latest developments in the crypto world.
Top News Stories
Revolut Considers U.S. Listing Over London Stock Exchange
Revolut’s CEO dismissed the London Stock Exchange (LSE) as a potential listing venue, citing its 0.5% stamp duty, low liquidity, and shrinking tech sector appeal. The LSE saw 88 firms delist or move in 2024, marking its largest exodus since the financial crisis. Revolut’s CEO urged the UK to create a more competitive market environment.
My Take: The LSE's diminishing appeal underscores London's struggle to retain major tech listings. Without reforms, more tech giants will seek U.S. exchanges.
BlackRock’s Bitcoin ETF Sees Put Options Surge
Put options tied to BlackRock's Bitcoin ETF (IBIT) surged on Friday, with over 13,000 contracts trading at a $30 strike price for May 2025. Despite IBIT trading at $57, traders used cash-secured put selling to gain ETF exposure at potentially discounted prices.
My Take: This isn’t bearish—it’s a calculated strategy to enter the market at lower levels while earning premiums if prices hold.
Trump’s Administration Eyes Bitcoin in Public Funds
With a pro-Bitcoin administration incoming, speculation about U.S. public pension funds and state treasuries investing in crypto is intensifying. Louisiana and Pennsylvania are considering legislation, while Senator Cynthia Lummis has proposed creating a national Bitcoin reserve. Some suggest Trump could issue an executive order, though that could face legal challenges.
My Take: While Trump executive orders could expedite the process, Congressional approval might be a more stable path for long-term adoption.
Ripple’s Stablecoin RLUSD Faces Pre-Market Hype
Ripple’s CTO warned against over-speculation on RLUSD, Ripple’s US dollar-pegged stablecoin. Pre-market bids hit $1,244 despite RLUSD's intended $1 peg. Arbitrage should stabilize prices post-launch.
My Take: Overbidding highlights crypto market exuberance. RLUSD’s stability will be a major credibility test for Ripple’s DeFi aspirations.
Craig Cobb on Bitcoin Market Trends
Bitcoin’s chart shows no signs of weakness after consolidating and surging past $106,000. Analyst Craig Cobb highlighted positive market structure and Bitcoin dominance trends, suggesting a strong bull run through Q1 2025.
Craig noted that Bitcoin’s market structure on multiple timeframes remains strong, with consistent higher highs and higher lows. He also pointed out that Bitcoin dominance could reach previous bull market peaks around 70%, signaling potential capital inflows into Bitcoin before altcoins rally in 2025.
My Take: Craig’s analysis aligns with historical market cycles. A steady rise in Bitcoin dominance could trigger a broader market rally, with altcoins likely gaining momentum in early 2025.
Market Prices
Fear & Greed Index: 80 (Extremely Greedy)
Bitcoin: $105,543 (+2.6% in 24h, +5% in 7d)
Ethereum: $3,931 (+0.9%)
XRP: $2.39 (-1.5%)
Solana: $217 (-1.7%)
BNB: $714 (-0.5%)
Dogecoin: $0.398 (-1%)
Cardano: $1.07 (-1.6%)
Tron: $0.28 (-2%)
Total Market Cap: $3.69 trillion (+1.1%)
Bitcoin’s Market Share: $2 trillion
Ethereum’s Market Share: $472 billion
Church Announcements
Security Tips: Check out our expert-written security articles for actionable advice.
Recommended Viewing: Mark Yusko's recent interview on Bitcoin’s price potential and DeFi adoption, plus Michael Saylor on gold reserves vs. Bitcoin.
Thank you for tuning in! Remember to hit five stars on Spotify, leave comments, and send questions to matt@dailycryptonews.net. Until tomorrow—happy HODLing, everyone!
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