Ether exchange-traded funds (ETFs) scored another $640 million in inflows, marking their eighth consecutive day in the green, while bitcoin ETFs logged a seventh straight day of gains with $231 million despite sharp outflows in several major funds. Record-breaking trading volumes underscored the market’s feverish pace. Ether ETFs Extend Streak to 8 Days With Bitcoin
BitcoinWorld Deribit USDC Options: A Revolutionary Leap for Bitcoin and Ether Trading Get ready for a significant shift in the world of crypto derivatives! Deribit, the leading crypto options exchange, recently acquired by industry giant Coinbase, is set to launch groundbreaking Deribit USDC options for both Bitcoin and Ether. This highly anticipated move, scheduled for August 19, marks a pivotal moment, promising to enhance accessibility and liquidity in the volatile yet exciting digital asset market. Alongside these innovative options, Deribit will also introduce dated futures, further expanding its comprehensive suite of trading products. This development is particularly exciting for traders looking for more straightforward settlement methods and lower entry barriers into the complex world of crypto derivatives. What Are Deribit’s New Linear Options and Why Do They Matter? Traditionally, many crypto options exchanges have offered “inverse” contracts, where the collateral and settlement are in the underlying cryptocurrency itself. However, Deribit is now introducing “linear” options, which settle directly in fiat-equivalent stablecoins, specifically USDC. This change brings several key benefits: Simplified Settlement: Traders no longer need to worry about the volatility of the underlying asset impacting their collateral or profits during settlement. USDC provides a stable, predictable value. Enhanced Accessibility: By offering smaller minimum order sizes—0.01 BTC and 0.1 ETH—Deribit is making Bitcoin options trading and Ether options trading more approachable for a wider range of participants. This is a game-changer for retail traders who might have found previous minimums prohibitive. Reduced Complexity: Linear options are generally easier for new traders to understand, as their profit and loss calculations are more straightforward, mirroring traditional finance instruments. This strategic shift aims to onboard more users and streamline the trading experience, making advanced financial tools available to a broader audience. Deribit’s Dominance in the Crypto Derivatives Exchange Arena Deribit has long held its position as the undisputed leader in the crypto options market. Its recent acquisition by Coinbase further solidifies its standing, bringing institutional backing and increased trust to its platform. The exchange reported a staggering record of $185 billion in trading volume just last month, as highlighted by The Block. This immense volume underscores its critical role in the global crypto ecosystem. The introduction of USDC-settled options is not just an incremental update; it’s a strategic move designed to maintain and extend Deribit’s leadership. By catering to evolving trader preferences and market demands, Deribit continues to innovate within the highly competitive crypto derivatives exchange landscape. This commitment to improvement ensures it remains the go-to platform for serious crypto traders. Unlocking New Possibilities with USDC-Settled Linear Options The move to linear options settled in USDC opens up new avenues for traders. For instance, it allows for easier hedging strategies against dollar-denominated portfolios, reducing basis risk. Furthermore, the availability of dated futures alongside these options provides more sophisticated tools for risk management and speculative positions. Traders can now execute more precise strategies without needing to convert their stablecoin holdings into volatile cryptocurrencies just for collateral purposes. This simplified approach can lead to more efficient capital deployment and potentially higher participation rates from both retail and institutional clients. Deribit’s foresight in adopting USDC as a settlement currency positions it at the forefront of stablecoin integration in derivatives, reflecting a broader industry trend towards stable and transparent financial instruments. What Does This Mean for Your Trading Strategy? For existing traders on Deribit, these new linear contracts offer an alternative to inverse contracts, allowing for portfolio diversification and different risk profiles. For those new to the platform or to crypto options in general, the smaller minimums and USDC settlement make it significantly easier to get started. It means you can now engage in Bitcoin options trading or Ether options trading with greater confidence in your settlement currency. Consider how these new instruments fit into your overall risk management and investment goals. The improved accessibility also means increased market depth and potentially tighter spreads, benefiting all participants. Always remember to conduct thorough research and understand the risks associated with derivatives trading before committing capital. In conclusion, Deribit’s launch of USDC-settled Bitcoin and Ether options is a game-changer for the crypto derivatives market. By focusing on accessibility, simplified settlement, and robust offerings, Deribit is not only enhancing its own platform but also paving the way for broader adoption of crypto options. This strategic evolution solidifies its position as a dominant force and provides exciting new opportunities for traders worldwide. Frequently Asked Questions (FAQs) Q1: What are USDC-settled options? A1: USDC-settled options are derivatives contracts where the profit and loss are settled in USDC, a stablecoin pegged to the US dollar, rather than the underlying cryptocurrency itself. Q2: How do linear options differ from inverse contracts? A2: Linear options settle in a stablecoin (like USDC), making their value more straightforward to track. Inverse contracts, on the other hand, settle in the underlying cryptocurrency, meaning their value can fluctuate with the crypto’s price. Q3: What are the minimum order sizes for these new Deribit USDC options? A3: Deribit is introducing smaller minimum order sizes of 0.01 BTC for Bitcoin options and 0.1 ETH for Ether options, significantly improving accessibility for traders. Q4: Why is Deribit launching these new options? A4: Deribit is launching these options to enhance accessibility for traders, simplify settlement processes, and cater to the growing demand for stablecoin-denominated derivatives, reinforcing its position as a leading crypto derivatives exchange. Q5: Is Deribit still the largest crypto options exchange? A5: Yes, Deribit remains the largest crypto options exchange, having recently recorded a record $185 billion in trading volume. Did you find this article insightful? Share it with your network on social media to help more people understand the exciting advancements in crypto options trading! To learn more about the latest crypto market trends, explore our article on key developments shaping Bitcoin price action . This post Deribit USDC Options: A Revolutionary Leap for Bitcoin and Ether Trading first appeared on BitcoinWorld and is written by Editorial Team
Galaxy Digital CEO Mike Novogratz now says Bitcoin could ultimately reach $1,000,000 per coin and “replace” or overtake gold in market value.
Bitcoin retreated on Thursday after the U.S. Treasury clarified it will not expand its planned Bitcoin reserve through direct market purchases. Prices briefly touched $124,120 before reversing sharply, sliding to $118,550 by the close. As of Friday, BTC is trading at $117,929, consolidating near key support after the sell-off triggered forced liquidations in parts of the crypto futures market. Treasury Secretary Scott Bessent told Fox Business the government will rely solely on confiscated assets to grow its Bitcoin reserve, valued between $15 billion and $20 billion, and will stop selling its existing holdings. BREAKING: Treasury Secretary Scott Bessent says US holds $15–$20B in Bitcoin reserve as a store of value for the American people pic.twitter.com/MOJbu3R2ZE — Crypto India (@CryptooIndia) August 14, 2025 The stance contrasts with President Trump’s earlier executive order requesting budget-neutral strategies to expand strategic Bitcoin reserves. Bessent also highlighted a surge in tariff revenues, with July collections hitting nearly $30 billion. Annual receipts could surpass $300 billion, he said, providing room for other asset strategies, though none will include fresh BTC buys. Market Impact and Macro Backdrop The Treasury’s position removes a predictable, long-term market buyer, heightening the potential for sharper price swings. Thursday’s reversal followed strong U.S. Producer Price Index data for July, with annual PPI rising 3.3% and monthly figures climbing 0.9%, stoking broader debates on inflation and rate policy. JUST IN: U.S. PPI jumps to 3.3% YoY, far above the 2.5% expected. A September rate cut now looks unlikely. pic.twitter.com/iv6vnlL7v8 — MBΞ (@mbeNFT) August 14, 2025 By relying on confiscated assets rather than direct purchases, reserve growth will be slower and less predictable. This makes near-term sentiment more sensitive to macroeconomic shifts, tariff policy changes, and institutional flows. For traders, the absence of Treasury buying may reduce headline-driven upside catalysts, but it also opens the door for opportunistic entries when volatility spikes. Bitcoin Technical Outlook: Flag Formation Signals Breakout Potential From a technical perspective, Bitcoin price prediction remains in a constructive position despite the pullback. The price has broken free from a descending channel and is now consolidating just above the 50-period SMA at $118,819, which serves as immediate support alongside a key trendline from recent swing lows. The 4-hour chart shows BTC forming a bullish flag pattern, trading between the 23.6% Fibonacci retracement level at $117,335 and resistance at $123,236 — a level that has twice capped advances this month. A decisive close above $123,236 could pave the way toward $126,242 and the psychologically important $130,000 target. Bitcoin Price Chart – Source: Tradingview The RSI stands at 54.77, down from overbought levels yet maintaining an uptrend, while the MACD histogram is contracting, often a sign that bullish momentum is rebuilding. Any retest of $117,774–$118,136 is likely to attract buyers, with deeper support at $113,650 and $110,675 if sentiment deteriorates. If Bitcoin clears resistance in the coming sessions and institutional inflows remain steady, the stage could be set for a sustained rally toward cycle highs. For long-term investors, this consolidation could prove to be a launchpad rather than a warning sign, a point in the chart that may one day be remembered as the prelude to a run not just toward $130K, but potentially toward $250K in the years ahead. New Presale Bitcoin Hyper ($HYPER) Combines Bitcoin Security With Solana Speed Bitcoin Hyper ($HYPER) is the first Bitcoin-native Layer 2 powered by the Solana Virtual Machine (SVM), built to supercharge the Bitcoin ecosystem with fast, low-cost smart contracts, dApps, and meme coin creation. By merging Bitcoin’s security with Solana’s performance, it unlocks powerful new use cases – all with seamless BTC bridging. The project is audited by Consult and built for scalability, simplicity, and trust. Investor interest is surging, with the presale already surpassing $9.7 million and only a small allocation remaining. HYPER tokens are currently available at just $0.012725, but that price is set to rise soon. You can buy HYPER tokens on the official Bitcoin Hyper website using crypto or a bank card. Click Here to Participate in the Presale The post Bitcoin Price Prediction: Treasury ‘No Buy’ Triggers Panic Dip – Smart Money Sees Opportunity, Not Fear appeared first on Cryptonews .
BitcoinWorld Retail Interest Surges: Why Investors Are Pivoting from Bitcoin to Altcoins and Ethereum The cryptocurrency world is buzzing with a remarkable shift in investor sentiment. Historically, Bitcoin (BTC) often dominated headlines and investor portfolios, but now, a significant change is underway. Analysts observe a growing retail interest in altcoins and Ethereum (ETH), suggesting that the concentrated bullish momentum for Bitcoin may be easing. This rotation of capital indicates a maturing crypto market where investors seek new opportunities beyond the leading cryptocurrency. What’s Fueling the Shift from Bitcoin’s Dominance? For a long time, Bitcoin’s rallies often led the entire crypto market, with other assets following suit. However, recent data suggests a diversification of investor focus. Cointelegraph reported that investor sentiment has surged dramatically, with the crypto asset sentiment index rising sharply from 0.23 to 0.91 within a single week. This indicates a broader optimism spreading across the digital asset space. Max Shannon of Bitwise, a respected voice in the industry, highlighted that Google searches for altcoins and Ethereum have reached multi-year highs. This surge in search queries is a strong indicator of increased public curiosity and potential investment intent in these specific assets. It suggests that while Bitcoin remains a foundational asset, the spotlight is expanding. Understanding Capital Rotation into Altcoins and Ethereum Capital rotation is a common phenomenon in financial markets, including crypto. It describes the movement of funds from one asset class or sector to another, typically when investors believe the initial asset has peaked or when new opportunities emerge elsewhere. In this scenario, capital that might have initially flowed into Bitcoin is now seeking returns in other areas of the crypto market . Why are altcoins and Ethereum particularly attractive now? Ethereum’s Ecosystem: Ethereum, with its robust ecosystem supporting decentralized finance (DeFi), non-fungible tokens (NFTs), and various dApps, offers diverse utility beyond just a store of value. Its upcoming upgrades also promise increased scalability and efficiency. Altcoin Potential: Many altcoins offer higher potential percentage gains compared to established cryptocurrencies like Bitcoin, albeit with higher risk. As the market matures, investors are becoming more comfortable exploring these options. Market Diversification: Investors are increasingly looking to diversify their crypto portfolios to manage risk and capture opportunities across different segments of the market. Navigating the Evolving Crypto Market Landscape This shift in retail interest signifies a dynamic and evolving crypto landscape. It’s not necessarily a negative sign for Bitcoin, but rather an indication of the market’s natural progression. As more capital flows into altcoins and Ethereum , it can lead to increased liquidity and development within these ecosystems, fostering innovation and broader adoption. For investors, understanding this trend is crucial. While Bitcoin continues to be a cornerstone of the crypto world, paying attention to the growing appeal of altcoins and Ethereum can unlock new possibilities. It encourages a more diversified investment approach and a deeper understanding of the various technologies and use cases within the digital asset space. The clear shift in retail interest from Bitcoin to altcoins and Ethereum marks an exciting phase for the crypto market . It highlights a growing maturity among investors who are increasingly exploring the broader opportunities available beyond the flagship cryptocurrency. This capital rotation underscores the dynamic nature of digital assets, presenting new avenues for growth and innovation across the entire ecosystem. Frequently Asked Questions (FAQs) Q1: What is driving the shift in retail interest from Bitcoin to altcoins and Ethereum? The shift is primarily driven by an easing of Bitcoin’s concentrated bullish momentum and investors seeking new opportunities. Analysts note a sharp rise in overall crypto sentiment and multi-year highs in Google searches for altcoins and Ethereum. Q2: Why are altcoins and Ethereum gaining traction over Bitcoin? Altcoins and Ethereum offer diverse utility, particularly Ethereum’s robust ecosystem for DeFi and NFTs, and the potential for higher percentage gains in various altcoins. Investors are also looking to diversify their portfolios beyond Bitcoin. Q3: What does ‘capital rotation’ mean in the cryptocurrency market? Capital rotation refers to the movement of investment funds from one cryptocurrency or asset class to another. In this context, it means money previously invested in or earmarked for Bitcoin is now being allocated to altcoins and Ethereum. Q4: How can investors identify promising altcoins in this evolving market? Investors should research projects with strong fundamentals, active development teams, clear use cases, and growing communities. Understanding market trends and consulting reputable analyses can also guide decisions. Q5: Is this shift a permanent trend for the crypto market? While market trends are cyclical, this shift suggests a maturing market where diversification is becoming more prevalent. It indicates a broader acceptance and understanding of the diverse opportunities within the crypto space, rather than just focusing on Bitcoin. If you found this article insightful, consider sharing it with your network! Help others understand the exciting shifts happening in the crypto market by sharing on social media. To learn more about the latest crypto market trends, explore our article on key developments shaping Ethereum and Bitcoin price action. This post Retail Interest Surges: Why Investors Are Pivoting from Bitcoin to Altcoins and Ethereum first appeared on BitcoinWorld and is written by Editorial Team
Bitcoin (BTC) and the broader crypto market sank after hotter-than-expected inflation numbers and a lack of clarity on US crypto policy lowered prices. Treasury Secretary Scott Bessent indicated that the US will not be buying more BTC for its strategic reserve. While the market tanked, Bessent issued a clarification, stating that the US is still exploring budget-neutral avenues to expand its Bitcoin reserve. The flagship cryptocurrency fell to an intraday low of $117,208 following Bessent’s comments, but has rebounded during the ongoing session. Scott Bessent Issues Clarification About Bitcoin (BTC) Reserve Treasury Secretary Scott Bessent issued a clarification regarding earlier comments about the US strategic Bitcoin Reserve. Bessent had said that the US held BTC worth $15 billion or $20 billion at current prices, adding that the government does not plan any more buys to add to the reserve. “We’ve also started to get into the 21st century, a Bitcoin reserve. We’re not going to be buying that, but we are going to use confiscated assets and continue to build that up.” US President Donald Trump signed an executive order on March 6, establishing a strategic Bitcoin reserve and a separate digital asset stockpile. Both reserves initially used cryptocurrencies forfeited in criminal and civil cases. Bessent had initially advocated for a strategic shift in the US’s approach to Bitcoin , stating that the government should stop selling Bitcoin and “bring it onshore” using established regulatory frameworks. Bessent issued a clarification after his comments spooked investors, stating that the US was still exploring budget-neutral strategies to buy BTC . “The Treasury is committed to exploring budget-neutral pathways to acquire more Bitcoin to expand the reserve, and to execute on the President’s promise to make the United States the ‘Bitcoin superpower of the world.” Top Win International Raises $10 Million For Bitcoin Treasury Top Win International, a Hong Kong-based luxury watch trading company, has announced it has raised $10 million from a group of investors. The company stated that it intends to use the funds primarily to purchase Bitcoin. Top Win generated $176 million in revenue in the last twelve months, with a gross profit margin of 8.04%. It added that it also plans to invest in companies that have a Bitcoin treasury strategy and allocate funds for working capital. The company has also signed a securities purchase agreement to issue a convertible note valued at $3 million. The note has an interest rate of 3% per annum, and can be converted into ordinary shares at a conversion price of $8.79 per share, with a term of three years. Bitcoin (BTC) Price Analysis Bitcoin (BTC) surged to a new all-time high on Thursday, reaching $124,533. However, it lost momentum almost immediately after reaching this level and plunged to a low of $117,208 before settling at $118,389. Sellers attempted a recovery during the ongoing session, but the price is back in the red, down 0.22%. The flagship cryptocurrency steadied itself after a bruising 24 hours, which saw the price crumble under intense selling pressure. “ BTC fell from above $123K to near $121K, followed by another wave of selling that pushed it below $119K.” BTC’s drop below $118,000 led to the liquidation of $227 million in leveraged bullish positions. Some analysts believe the 3.3% increase in the US Producer Price Index (PPI) for July prompted traders to become risk-averse, as inflation figures came in higher-than-expected. However, traditional markets recovered their losses, indicating that BTC’s decline was driven by other factors. According to the CME FedWatch tool, the implied probability of the Federal Reserve cutting interest rates fell to 61%, compared to 67% a week earlier. This indicates reduced confidence in monetary easing, which weighs on crypto prices. Meanwhile, the Bitcoin options market is showing resilience, with the options skew at 3%, indicating a balanced risk outlook consistent with healthy market opportunities. BTC started the previous week on a bullish note, rising 0.73% on Monday to settle at $115,051. However, it lost momentum on Tuesday, falling 0.82% to a low of $112,622 before settling at $114,112. Buyers returned to the market on Wednesday as BTC rose 0.80% to reclaim $115,000 and settle at $115,028. Bullish sentiment intensified on Thursday as the price rallied, rising over 2% to cross $117,000 and settle at $117,515. Despite the positive sentiment, BTC was back in the red on Friday, dropping 0.71% to $116,683. The price registered a marginal decline on Saturday before rebounding on Sunday, rising 2.42% to cross $119,000 and settle at $119,309. Source: TradingView BTC reached an intraday high of $122,219 on Monday as bullish sentiment intensified. However, it lost momentum after reaching this level and settled at $118,701, ultimately dropping 0.51%. Market sentiment turned positive on Tuesday as the price recovered, rising 1.19% to cross $120,000 and settle at $120,113. Bullish sentiment intensified on Wednesday as BTC rallied, rising nearly 3% to settle at $123,365. The flagship cryptocurrency surged to a new all-time high on Friday, reaching $124,533. However, it lost momentum after reaching this level, dropping over 4% to $118,389, but not before reaching an intraday low of $117,208. The current session sees BTC marginally down, trading around $117,998. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
According to the latest research report from crypto finance firm Matrixport, the US market has entered a new cycle of liquidity release. Matrixport: US Liquidity Cycle Restarts, Bitcoin Could Rise The report predicts that structural funding support could sustain the rise in Bitcoin and other risky assets, and that this trend could continue until 2026. Matrixport states that the current funding structure, credit environment and policy conditions in the US are sending positive signals, and these multiple factors could support asset prices upwards. The rapid growth in money market funds is particularly striking. According to data, US money market funds have increased from $3 trillion to $7.4 trillion since the fourth quarter of 2018. Annualized interest income reached $320 billion. Furthermore, the recovery in credit supply, the increase in commercial and industrial loans, and liquidity injections from fiscal stimulus are expected to continue to support Bitcoin. Matrixport emphasizes that increased lending activity and an expanding money supply in the US could increase investors' risk appetite, leading to greater capital flows into cryptocurrency markets. Analysts say that altcoins, along with Bitcoin, could benefit from this process, but market fluctuations should be closely monitored. This report suggests that the next two years could potentially be a strong bull period for crypto investors. *This is not investment advice. Continue Reading: Crypto Finance Company Matrixport Announces Structural Funding Support in the US Will Positively Impact Risky Assets! Details Here
BitcoinWorld Bitcoin Uptrend: Resilient Against US PPI Shocks The cryptocurrency world recently experienced a swift market reaction. News of the U.S. July Producer Price Index (US PPI) surging unexpectedly to 0.9% month-over-month triggered a momentary crypto pullback . Bitcoin, the leading digital asset, saw its price dip from $124,000 down to $117,000. However, this brief volatility does not diminish the underlying strength of the ongoing Bitcoin uptrend , which continues to capture global attention. Understanding the Recent Crypto Pullback and US PPI Impact What exactly caused this recent market tremor? The July US PPI data came in much higher than analysts expected. This index measures the average change over time in the selling prices received by domestic producers for their output. A higher-than-anticipated PPI often signals inflationary pressures, which can lead to a stronger U.S. dollar and rising bond yields. When the dollar strengthens and yields climb, traditional markets often see a shift in investor sentiment. This can sometimes draw capital away from riskier assets, including cryptocurrencies, leading to a temporary crypto pullback . For a short period, Bitcoin and other digital assets felt this pressure, reflecting the interconnectedness of global financial markets. Why the Bitcoin Uptrend Persists Despite Macro Headwinds Despite the recent dip, the broader Bitcoin uptrend that began in April remains firmly established. This resilience highlights the growing maturity of the crypto market . While macro-economic data like the US PPI can cause short-term fluctuations, the fundamental drivers for cryptocurrency adoption are stronger than ever. Several key factors underpin this sustained growth: Growing Corporate Adoption: More companies are integrating cryptocurrencies into their operations. This includes using digital assets for payments, managing treasury reserves, and exploring blockchain technology for various business solutions. Institutional Interest: Large financial institutions and corporations are increasingly allocating capital to digital assets, viewing them as legitimate components of a diversified portfolio. Speculative Activity: Continued interest from individual and professional traders adds liquidity and momentum to the market. This increasing corporate adoption signifies a long-term belief in the value and utility of digital currencies, suggesting that momentary market reactions are simply part of a larger, upward trajectory. Navigating the Crypto Market: Key Insights for Investors The recent events serve as a reminder that volatility is a natural characteristic of the crypto market . However, understanding the difference between short-term reactions and long-term trends is crucial for investors. The underlying strength of the Bitcoin uptrend is not easily swayed by single economic reports. Here are some actionable insights for those navigating this dynamic space: Stay Informed: Keep an eye on both crypto-specific news and broader macroeconomic indicators like the US PPI . Focus on Fundamentals: Look beyond daily price movements to the ongoing development, utility, and corporate adoption of blockchain technology. Long-Term Perspective: For many, cryptocurrencies are a long-term investment. Brief pullbacks can be opportunities for those with a strategic outlook. The benefits of participating in this evolving market include potential for significant returns and diversification. Challenges include inherent volatility and the evolving regulatory landscape. In conclusion, while the U.S. July Producer Price Index data sparked a brief crypto pullback , the overarching Bitcoin uptrend remains robust. This resilience is largely thanks to the accelerating pace of corporate adoption and growing institutional confidence in the digital asset space. The crypto market continues its journey towards broader integration into the global financial system, with short-term fluctuations serving as minor detours on a larger upward path. Frequently Asked Questions (FAQs) 1. What is the U.S. Producer Price Index (US PPI)? The US PPI measures the average change over time in the selling prices received by domestic producers for their output. It is a key indicator of inflation at the producer level. 2. How did the recent US PPI data affect the crypto market? The higher-than-expected US PPI data led to a brief crypto pullback as it strengthened the U.S. dollar and increased bond yields, prompting some investors to shift away from riskier assets like Bitcoin temporarily. 3. Is the Bitcoin uptrend still intact despite the pullback? Yes, the Bitcoin uptrend remains firmly intact. The recent dip was a short-term reaction to macro data, but fundamental drivers like increasing corporate adoption continue to support long-term growth. 4. What does “corporate adoption” mean for the crypto market? Corporate adoption refers to businesses integrating cryptocurrencies into their operations, such as using them for payments, managing treasury assets, or developing blockchain-based solutions, which signals increasing mainstream acceptance and utility. 5. What should investors consider during a crypto pullback? During a crypto pullback , investors should consider focusing on long-term fundamentals, staying informed about market drivers, and understanding that short-term volatility is a normal part of the crypto market . Did you find this analysis helpful? Share this article with your network on social media to help others understand the resilience of the Bitcoin uptrend! To learn more about the latest crypto market trends, explore our article on key developments shaping Bitcoin institutional adoption. This post Bitcoin Uptrend: Resilient Against US PPI Shocks first appeared on BitcoinWorld and is written by Editorial Team
The Bitcoin Policy Institute (BPI), a think tank focused on the flagship cryptocurrency, has launched in India. The policy group is the first in the country and was launched on India’s Independence Day. According to its post on X, the institute’s mission is to provide the research and education needed to make India a financially sovereign state using Bitcoin. It said : “Our mission: To provide the research & education needed to secure India’s financial sovereignty using #Bitcoin. Why now? Because true sovereignty in the 21st century is financial sovereignty.” Several of the founding members of the BPI are key individuals in the India Bitcoin scene. These include Bitcoin filmmaker Avi Burra, Bitshala coordinator Shreyan Joshi, software engineer Harsh Jain, and others. Speaking on the development, Burra noted that the institute’s goal is to provide policymakers with more clarity on the Bitcoin ecosystem to develop a suitable framework for the industry. Meanwhile, Joshi, a coordinator for the Bitcoin hub Bitshala, believes that having an Indian policy group focused on Bitcoin is a welcome development. He noted that local research on emerging assets will benefit both public and private sectors. BPI projects production of 150k BTC by 2030 Interestingly, the group plans to focus on issues it identified as the strategic pillars necessary to achieve its goals. One of the BPI Five Pillars is the Sovereign Mining Initiative, which plans to guide state governments in using renewable energy for Bitcoin mining . Per its economic analysis, India could generate 15,000 BTC through this in the first year, with a focus on the Rajasthan and Himachal Pradesh regions. However, its long-term goal over the next five years is for BTC production to reach 150,000 BTC and for all regions with excess renewable energy in the country to actively mine BTC. It noted that this would create 200,000 jobs directly and indirectly and utilize around 25 – 30 terawatt-hours of electricity throughout the country for BTC production. Meanwhile, other core pillars include Political Advocacy and Research, Education, Strategic Reserve Initiative, and Enabling Commerce and Payments through Bitcoin. The think tank believes that doing all these will help ensure the country saves money on remittance and reduce reliance on SWIFT. India’s crypto scene is struggling despite massive adoption The establishment of BPI could mark the start of a turnaround for the Indian crypto sector, which has been struggling in recent years. Despite ranking first in crypto adoption for 2024 according to the Chainalysis Adoption Index , reality tells a different story. Several challenges have dogged the Indian crypto sector, with the lack of regulatory clarity, the controversies surrounding popular exchanges such as WazirX , and the high tax rate on crypto trading and gains, all limiting activity. The country’s regulatory environment has already forced several investors to use offshore exchanges, but that has not stopped the tax drive by the authorities. The Minister of State for Finance, Pankaj Chaudhary, recently disclosed that over 44,000 crypto investors got emails and text messages to pay their taxes. Nevertheless, efforts to boost adoption have also increased with the national spokesperson for the country’s ruling party, Pradeep Bhandari, also calling for India to establish a strategic Bitcoin reserve. However, many people are still waiting for regulatory clarity on the crypto sector. Get up to $30,050 in trading rewards when you join Bybit today
Top Win International, Taiwan’s first publicly traded corporate Bitcoin treasury, raised $10 million to kick off its BTC purchases.