Trump's re-election boosts Bitcoin ETF inflows. The Fed and Bank of England cut rates amid cooling inflation, while hinting at pauses. Germany’s trade surplus narrows due to weak exports and rising imports.
For the crypto industry, it is not about points in time but rather the gradual, longer term societal shift. The re-election of President Trump has brought a return to buoyancy across US markets.
Until recently, DeFi tokens have been largely labelled as "useless governance tokens", tokens which serve no value other than voting on protocol changes via governance voting rights.
In a Cointelegraph article, Charlie Sherry, Head of Finance at BTC Markets, explained how DeFi tokens surged over 30% as traders anticipate the Trump administration boosting the "investment appeal" of holding "utility" tokens, according to industry analysts.
Trump takes the Presidency and pushes Bitcoin to a new all-time high of A$115k. BlackRock leads Bitcoin ETFs to new milestone. RBA holds rates as inflation rises. Real Vision discusses a liquidity-driven crypto bull-cycle. Tether's Q3 profit hits US$2.5 billion. US job growth slows.
Bitcoin ETFs have surged, attracting nearly US$900 million in one day, led by BlackRock's iShares Bitcoin Trust, which claimed US$872 million. Meanwhile, Tether reported Q3 profits of US$2.5 billion, driven by U.S. Treasury yields and gold prices, amid a stabilising global economy.