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American President Donald Trump announced overnight the creation of a U.S. Crypto Strategic Reserve. The news, long heralded throughout the Trump campaign, reignited price momentum on crypto markets.
Bitcoin and Ethereum both hit 3-month lows as crypto markets undergo a significant reset. A mix of negative sentiment, economic concerns, and broader macro uncertainty has weighed on investors, leading to sharp declines.
Post-election highs give way to market recalibration amid meme coin mania and major hacks.
Over the past trading week, ETH gained more than 5%, despite a major hack on one of the world’s largest exchanges on Friday. The crypto industry responded with unity, as key players took action to manage the fallout.
Marking a new era for Aussie investors, crypto matures with institutional investment and regulatory shifts.
As institutions double down on crypto, Bitcoin remains in a consolidation phase. XRP surged on ETF news and Grayscale filed for a Cardano ETF. Goldman Sachs invested billions in Bitcoin, and Abu Dhabi’s sovereign fund poured US$436M into BlackRock’s Bitcoin ETF.