Crypto News Catchup: Milestones, Policies, and the Push Toward Global Integration

The cryptocurrency landscape is witnessing rapid adoption and growing interest across diverse sectors, from public companies and government initiatives to international banking. This roundup explores key developments shaping the crypto market, including Cosmos Health’s strategic move into Bitcoin, Scott Bessent’s pro-crypto nomination as Treasury Secretary, Bitcoin’s technical milestones, and ongoing regulatory advancements. These stories highlight the evolving integration of digital assets into mainstream finance and governance, setting the stage for a transformative future.

Cosmos Health, a Nasdaq-listed healthcare company, announced plans to add Bitcoin and Ethereum to its balance sheet as an inflation hedge and diversification strategy. The company, which operates in the medical sector in Europe, also aims to enable crypto payments for its clients. Following the announcement, Cosmos Health’s stock surged by over 17%. This move mirrors the strategy of MicroStrategy, which has significantly invested in Bitcoin since 2020, signaling growing interest in cryptocurrency among publicly traded firms.

President-elect Donald Trump has nominated Scott Bessent, a prominent hedge fund manager and pro-crypto advocate, as Secretary of the Treasury. Bessent, founder of Key Square Group and former Chief Investment Officer at Soros Fund Management, is a strong supporter of cryptocurrencies and Trump’s plan for a strategic Bitcoin Reserve. Known for his financial expertise and bipartisan support, Bessent’s nomination is expected to influence tax reform and digital currency integration, shaping the administration’s economic policies.

Bitcoin reached a new all-time high of $99,592.18 on November 22, but signs suggest bullish momentum may be weakening, indicating a potential near-term retracement. Despite this, the broader uptrend remains intact, with prices holding above the ascending 20- and 50-period Exponential Moving Averages, signaling underlying strength. The Momentum oscillator staying above the key 100 level further supports the bullish outlook. However, caution is advised as the Relative Strength Index (RSI) has entered the overbought territory, and a bearish divergence between price and RSI points to the possibility of a corrective phase in the near term.
If market conditions remain favorable, Bitcoin’s next price targets are $100,000.00, $104,382.31, and $115,343.70. Conversely, if bearish trends emerge, the following support levels are anticipated: $95,306.91, $90,029.08, and $84,068.66.

Bitcoin set a record with its largest-ever monthly gain, surging over 40% in November and nearing the $100,000 mark. Investor optimism has been fueled by Donald Trump’s presidential victory and his media company’s trademark filing for a crypto trading and payment platform, “TruthFi.” The positive sentiment extends to regulatory advancements, with US and UK officials working on clearer crypto policies. Meanwhile, AI and big data tokens have surged alongside Bitcoin, reflecting broader confidence in the crypto market’s stability and growth potential.

Hong Kong’s largest virtual bank, ZA Bank, has launched a service allowing retail users to trade Bitcoin and Ethereum directly with fiat currency. Users must hold a ZA Bank account and complete a risk assessment to access the service. This initiative, developed in partnership with crypto exchange HashKey, aims to bridge traditional banking with digital assets. The move follows Hong Kong’s recent push to regulate and expand retail crypto trading, with only three licensed exchanges currently operating in the region.

Texas lawmakers are exploring the idea of establishing a strategic Bitcoin reserve, according to Dennis Porter, CEO of the Satoshi Action Fund. Preliminary discussions have begun to introduce legislation that could position Texas, with its $2.4 trillion GDP, as a leader in Bitcoin adoption. The concept aims to protect against inflation, secure US Bitcoin mining, and counter foreign market manipulation. Similar efforts are emerging in Pennsylvania and at the federal level, signaling growing interest in Bitcoin reserves across the US and internationally.

In conclusion, the crypto ecosystem is rapidly evolving, with significant developments across industries and regions. From companies like Cosmos Health embracing digital assets to government initiatives exploring Bitcoin reserves and key figures like Scott Bessent shaping future policies, the momentum for cryptocurrency adoption is undeniable. As Bitcoin approaches historic milestones and regulatory clarity improves, the integration of digital currencies into mainstream finance and governance is set to redefine economic landscapes globally. The coming months will be critical in determining how these shifts unfold and influence the broader financial ecosystem.