CoinDesk Weekly Recap: Finally, the Bitcoin Rally
After several weeks of stagnation, Bitcoin surged this week, reaching over $95,000, reflecting a 12% increase during the workweek. The market revival was attributed to improved macroeconomic conditions and alleviating concerns about tariff policies. The cryptocurrency market also saw a significant rise, with an overall jump of 10% in the last five days. Institutional investments continued to strengthen, with notable entries from companies like Strike and Cantor Fitzgerald, as large entities are increasingly accumulating Bitcoin. However, retail traders have been pulling back from Bitcoin ETFs. In a noteworthy development, Bitcoin surpassed Google's market capitalization for the first time. While some new token launches in the Web3 space have disappointed, rising prices in core crypto assets signal a potential for broader Web3 expansion and innovation in cultural and gaming sectors. Analysts suggest that Bitcoin and stablecoins are currently the leading winners in the crypto ecosystem, highlighting opportunities for structured investment and digital payments.
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