Bitcoin Surges Past $122,000 with Bold Moves Shaking the Crypto Market
Main Idea
Bitcoin and Ethereum have surged past $122,000 and $4,300 respectively, driven by U.S. President Donald Trump's executive order allowing cryptocurrencies in 401(k) plans and strong market inflows.
Key Points
1. Bitcoin broke the $122,000 threshold, while Ethereum surpassed $4,300, with several altcoins seeing gains of 5% or more.
2. Donald Trump's executive order has tasked the Department of Labor with evaluating the inclusion of cryptocurrencies in 401(k) retirement plans.
3. Spot Ethereum ETFs saw a weekly influx of $461 million, surpassing Bitcoin ETFs, according to SoSoValue data.
4. Over $350 million in long and short positions were liquidated in the last 24 hours, with $215 million from short positions supporting the rise.
5. Fed Chair Jerome Powell indicated that September's rate cut decision would depend on upcoming CPI and PPI data, with an 88.4% probability of a 25 basis point cut on September 17.
Description
Bitcoin crosses $122,000 as Ethereum soars past $4,300. Trump's 401(k) directive stimulates crypto market demand. Continue Reading: Bitcoin Surges Past $122,000 with Bold Moves Shaking the Crypto Market The post Bitcoin Surges Past $122,000 with Bold Moves Shaking the Crypto Market appeared first on COINTURK NEWS .
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