why are Bitcoin and altcoins going up today? (08/4)
The post why are Bitcoin and altcoins going up today? (08/4) appeared on BitcoinEthereumNews.com. The crypto market rose on Monday, continuing a trend that began on Sunday, when Bitcoin and most altcoins crashed. Bitcoin (BTC) price jumped to $115,300, up from the weekend low of $112,000. Other altcoins, especially Spark (SPK), MemeCore (M), Mantle (MNT), and Sei (SEI) were among the top gainers. The market cap of all coins jumped to over $3.78 trillion. Crypto market rally ahead of Bullish IPO One of the top news stories driving the crypto market rally is that Bullish, an exchange backed by Peter Thiel, is eyeing a $4.2 billion Initial Public Offering. The company aims to raise $629 million by offering 20.3 million shares. This listing comes after the highly successful Circle Internet IPO, which pushed its market capitalization to over $60 billion at its peak. Grayscale, the giant crypto asset manager, and Kraken, another exchange, have also filed for IPOs. These news events often drive sentiment in the crypto market, boosting prices. President Donald Trump to nominate Fed Governor Bitcoin and altcoins are also rising as President Donald Trump prepares to replace Adriana Kugler as a Federal Reserve Governor. Her resignation gives Trump his first opportunity to reshape the Fed as he continues to advocate for interest rate cuts. According to Bloomberg, the new Fed governor could ultimately become chairman once Jerome Powell’s term ends in 2026. He will likely join other governors, such as Michelle Bowman and Christopher Waller, who have advocated for rate cuts. Crypto prices tend to perform well when the Federal Reserve is cutting interest rates, as seen in 2024. Bitcoin price fell to a key support The crypto market is also rebounding after Bitcoin dropped to a crucial support level. As the chart shows, BTC bottomed at $112,000 on Sunday, a notable level as it was the highest point in May…
The post why are Bitcoin and altcoins going up today? (08/4) appeared on BitcoinEthereumNews.com.
The crypto market rose on Monday, continuing a trend that began on Sunday, when Bitcoin and most altcoins crashed. Bitcoin (BTC) price jumped to $115,300, up from the weekend low of $112,000. Other altcoins, especially Spark (SPK), MemeCore (M), Mantle (MNT), and Sei (SEI) were among the top gainers. The market cap of all coins jumped to over $3.78 trillion. Crypto market rally ahead of Bullish IPO One of the top news stories driving the crypto market rally is that Bullish, an exchange backed by Peter Thiel, is eyeing a $4.2 billion Initial Public Offering. The company aims to raise $629 million by offering 20.3 million shares. This listing comes after the highly successful Circle Internet IPO, which pushed its market capitalization to over $60 billion at its peak. Grayscale, the giant crypto asset manager, and Kraken, another exchange, have also filed for IPOs. These news events often drive sentiment in the crypto market, boosting prices. President Donald Trump to nominate Fed Governor Bitcoin and altcoins are also rising as President Donald Trump prepares to replace Adriana Kugler as a Federal Reserve Governor. Her resignation gives Trump his first opportunity to reshape the Fed as he continues to advocate for interest rate cuts. According to Bloomberg, the new Fed governor could ultimately become chairman once Jerome Powell’s term ends in 2026. He will likely join other governors, such as Michelle Bowman and Christopher Waller, who have advocated for rate cuts. Crypto prices tend to perform well when the Federal Reserve is cutting interest rates, as seen in 2024. Bitcoin price fell to a key support The crypto market is also rebounding after Bitcoin dropped to a crucial support level. As the chart shows, BTC bottomed at $112,000 on Sunday, a notable level as it was the highest point in May…
What's Your Reaction?
