16 July 2024 | FXGT.com
Crypto News Catchup – Bitcoin Recovers on Trump Election Prospects as German Sales Conclude
- Germany has sold off its remaining Bitcoin holdings. This final sale concludes the country’s extensive liquidation of seized cryptocurrency assets, potentially removing a significant source of market pressure. The completion of these sales could possibly contribute to future price increases as the sell-off pressure eases.
- Bitcoin’s price has surged as markets perceive a higher likelihood of a Trump victory in the upcoming U.S. presidential election, following the recent shooting incident. This rise is attributed to expectations that a Trump administration would be more favourable to cryptocurrency regulation and market conditions.
- Bitcoin ETFs experienced their best weekly inflows since May, following a recent price drop. The inflows indicate renewed investor interest and confidence in Bitcoin, despite recent market volatility. This surge in investments suggests that market participants are looking to capitalize on the lower prices, expecting potential future gains as the market stabilizes.
- VanEck and 21Shares have filed for Solana ETFs, betting on the growing popularity of Solana and the potential boost if Donald Trump wins the U.S. presidential election. This move highlights the increasing interest in diversifying crypto investment products and the potential influence of political outcomes on financial markets.
- BlackRock’s tokenized treasury fund, BUDIL, has reached $500 million in assets. This milestone highlights the growing interest and adoption of tokenized financial products, showcasing the integration of traditional financial instruments with innovative blockchain solutions.
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