The Daily: Bitcoin taps $97K amid ‘Goldilocks’ macro backdrop, Ripple secures preliminary license in EU payments push, and more
Bitcoin reached an eight-week high near $97K, driven by strong ETF inflows amid a favorable macro environment.Summary
Bitcoin surged past $97,000, reaching an eight-week high, fueled by the largest single-day net inflows for U.S. spot bitcoin ETFs in nearly three months, totaling about $750 million. This rally was supported by a 'Goldilocks' macro backdrop, easing inflation, and increased regulatory clarity, leading to heavy short covering and speculation that Bitcoin could hit $100,000 soon. In regulatory news, Ripple secured preliminary approval for an Electronic Money Institution license in Luxembourg, advancing its goal to scale its payments platform across the EU. Meanwhile, Galaxy Research warned that the new Senate draft crypto market structure bill could introduce the largest expansion of U.S. financial surveillance since the Patriot Act due to provisions allowing transaction freezes without court orders. Other developments include Paradigm leading a $7.1 million seed round for the attention market platform Noise, and Ledger rolling out a 'BTC yield' feature allowing users to earn yield on BTC via conversion to Lombard's LBTC token.
(Source：The Block)