Bitcoin News: Bitcoin Surges Past $96,000, Fueling Crypto and Stock Market Rally
On the first trading day of 2025, Bitcoin soared past $96,000, driving significant gains in both the cryptocurrency and stock markets. Key stocks such as MicroStrategy, Robinhood, GameStop, and Nvidia experienced notable increases, with MicroStrategy benefiting from its substantial crypto holdings. The rally was further fueled by a cryptic Rick James clip shared by Roaring Kitty, reigniting interest in meme stocks like GameStop. Overall, market indexes, including the Dow, saw substantial gains, marking a strong start to the year.
Stocks and Crypto Gain on First Trading Day of 2025
On the first trading day of 2025, stocks with the biggest gains include MicroStrategy, Robinhood, GameStop, and Nvidia. Bitcoin shot past $96,000, dragging crypto-tied stocks along for the ride. MicroStrategy, which holds billions in crypto assets, shone as Bitcoin rallied. Meme-stock fans got excited after a cryptic Rick James clip by Roaring Kitty, fueling chatter and spiking GameStop shares. Across the board, indexes jumped, with the Dow gaining 200 points and the S&P 500 and Nasdaq rising 0.6%.
Morgan Stanley Considering Direct Crypto Services Through E-Trade
Morgan Stanley is considering offering direct crypto services through E-Trade, driven by Donald Trump's recent election win and anticipated pro-crypto regulatory progress. The firm wants a share of the lucrative crypto trading market and has long held a bullish view on Bitcoin. This year, Morgan Stanley has heavily promoted crypto ETFs and invested nearly $300 million in them by October. If it moves forward with the E-Trade plan, it would mark a significant new expansion.
Cryptocurrencies to Rise Strongly in 2024, Increasing Billionaires' Wealth
In 2024, the cryptocurrency market will see historic growth, significantly increasing the number of billionaires in the crypto field. According to the Bloomberg Billionaires Index, three cryptocurrency billionaires saw significant net worth growth, including Binance Holdings' Changpeng Zhao. Other notable events included the launch of 12 Bitcoin spot ETFs in January, Bitcoin's 'halving' event in April, Federal Reserve rate cuts, and Donald Trump's victory in the US presidential election. Trump was a strong supporter of cryptocurrency, and his victory triggered a strong market rebound.
CryptoQuant CEO Discusses Bitcoin Buying Pressure and Daily Premium
CryptoQuant CEO Joo Ki-young stated that there is buying pressure on Bitcoin (BTC), but it will not cause the market to crash. He mentioned that the buying pressure typically comes from Coinbase, but the daily premium is currently at its lowest level in two years. Joo added that a recovery is needed for the next rally.
Bitcoin Futures Funding Rate Reflects Cautious Optimism Ahead of Trump's Inauguration
The Bitcoin futures funding rate suggests cautious optimism among traders. Long position decisions have been postponed ahead of the inauguration of U.S. President-elect Donald Trump. Meanwhile, the dollar-won exchange rate closed at 1,469.10 won due to the dollar’s extreme strength. The value of the dollar rose to its highest level in two years amid predictions of a hawkish Federal Reserve and a “tariff bomb” under a strong U.S. economy. Global funds are also flocking to the U.S. market, encouraging dollar purchases.
Today’s Biggest Gainers: MicroStrategy, Robinhood, GameStop, and Nvidia
It’s the first trading day of 2025, and the stock market is filled with speculative energy. MicroStrategy, Robinhood, GameStop, and Nvidia were among the top gainers. Bitcoin surged above $96,000, dragging down cryptocurrency-related stocks. MicroStrategy shines as Bitcoin rebounds after a significant drop in December. All indexes rose across the board, with the Dow Jones Index rising 200 points and the S&P 500 Index rising 100 points; the Nasdaq Index rose 0.6%.
