Bitcoin poked above the R1.3 million level and flirted with a gain for a fifth straight session, reflectingin global markets about the prospect of Federal Reserve interest-rate reductions this year.
Some Treasury yields registered their largest two-day drops of the year, a loosening in financial conditions that may help speculative assets like crypto., digital-asset strategy vice president at Fundstrat Global Advisors, said in a note.Top-five coins including BNB and Solana have climbed over the past 24 hours. Tokens beloved by the meme crowd, such asBNB stems from the ecosystem around Binance, the biggest crypto exchange, and is often viewed as an arbiter of sentiment toward the company.
Bitcoin in recent days struggled to hold climbs above $70,000 but optimists are drawing succor from a stretch of inflows into dedicated US exchange-traded funds as well as moves in Washington toward a crypto regulatory framework.In Japan, crypto exchange DMM Bitcoin said it plans to raise 50 billion yen and plow the funds into buying the token to make customers whole after suffering a major hack.