This week saw a significant increase in bitcoin prices, which climbed to over $95,000, marking a 12% rise over the work week. This surge was driven by improved macroeconomic news and a restored confidence in the crypto market post-election. Bitcoin's dominance was noted as it surpassed Google's market cap, a milestone for the cryptocurrency. Institutional investors, including sovereign wealth funds, have been accumulating bitcoin, contrasting with retail traders who are wary of bitcoin ETFs. In other related news, a much-anticipated token launch from Zora faced criticism over liquidity issues in the Web3 space. As key crypto assets rise, there is a resurgence of interest in Web3 projects, including a blockchain-based game tied to the hit series Peaky Blinders. Stablecoins also gained traction as USDC issuer Circle announced new products, affirming a trend where accumulating bitcoin while utilizing stablecoins is seen as a strategic approach. Overall, bitcoin and stablecoins emerged as key winners in the current market context.

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