Bitcoin BTC$82,486.18 heads into the weekend about 4% lower than at the same time last Friday, even after recovering to around $82,500 from a low near $80,300 on Thursday. Ether ETH$2,491.72 slid 9% over the week to around $2,500.
The BTC rebound followed a Truth Social post from President Donald Trump on Thursday saying the U.S. would not attack Iran before the Nov. 3 midterm elections. Brent crude has slipped about 1% today to around $103 a barrel.
Smaller tokens led the recovery, with the CoinDesk 80 up 2.2% since midnight UTC, more than twice the gain in the CoinDesk 5.
The bounce has yet to undo Thursday’s damage, however, with the CoinDesk 100 still 2.2% lower over 24 hours and DeFi tokens down nearly 4%. U.S.-listed bitcoin, ether and zcash ETFs posted outflows on Thursday, leaving XRP funds as the only crypto products to take in money.
Ethereum Foundation researcher Justin Drake’s call for a “bunker mode,” which spurred negative sentiment alongside Thursday’s selloff, has also drawn pushback. Coinbase cryptographer Yehuda Lindell dismissed the concerns as “FUD” — fear, uncertainty and doubt — saying there was no evidence that the elliptic-curve assumptions behind bitcoin and ether had been broken.
U.S. equity futures also rose on the back of Trump’s comments, with Nasdaq 100 index futures up 0.83% since midnight and S&P500 futures adding 0.44%.
As stablecoins move into regulated finance, APAC is becoming a key proving ground. This report maps the region’s rules, use cases, and RLUSD’s role.
As stablecoins move into regulated finance, APAC is becoming a key proving ground. This report maps the region’s rules, use cases, and RLUSD’s role.
As stablecoins move into regulated finance, APAC is becoming a key proving ground. This report maps the region’s rules, use cases, and RLUSD’s role.
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