Eric Trump Signals Interest in Bitcoin, Following Father's Softened Stance
Eric Trump Signals Interest in Bitcoin, Following Father's Softened Stance
🤔 Trumps Warming to Bitcoin?
Eric Trump expressed optimism about Bitcoin on social media platform X, suggesting it's an opportune time to enter the market. This follows his father Donald Trump's notably softened stance on cryptocurrency from earlier this year.
- Eric Trump's statement marks a potential shift in the Trump family's view on digital assets
- Previously in March, Donald Trump indicated a more neutral position on BTC during a CNBC interview
- The former president specifically noted he wouldn't necessarily restrict Bitcoin if re-elected
This represents an evolution from the Trump administration's historically skeptical position on cryptocurrencies.
BlackRock Bitcoin ETF Protection Costs Surge to Post-April Highs
The cost of hedging against potential price declines in BlackRock's spot Bitcoin ETF (IBIT) has reached its highest level since April's market correction. This development comes as IBIT continues to break ETF industry records for capital inflows and trading volumes. Key points: - Protection costs indicate increased market uncertainty - IBIT maintains strong performance despite higher hedging expenses - Trend follows several months of spot Bitcoin ETF market dominance *Context*: BlackRock's IBIT has been a standout performer in the ETF space since its launch, consistently attracting significant institutional investment.
Bank Raises Core Scientific Price Target on CoreWeave Deal
A major investment bank has increased its price target for bitcoin mining company Core Scientific (CORZ) from $16 to $22, while maintaining its buy rating. The adjustment comes following CORZ's strategic acquisition of CoreWeave. The bank's updated outlook represents a significant shift from their initial coverage in October 2024, when they set a $19 target price. This revision suggests growing confidence in Core Scientific's expansion strategy. - Previous target: $16 - New target: $22 - Catalyst: CoreWeave acquisition - Rating: Maintained at Buy *The price target increase reflects the bank's positive assessment of Core Scientific's strategic moves in the mining sector.*
ETH Dividend Option and Share Transfer Reward Announced
A new shareholder incentive program has been announced with two key components: - **Dividend Choice**: Shareholders can select between $0.05 per share paid in either ETH or cash - **Transfer Bonus**: Additional $0.35 reward for converting shares to book entry with 120-day hold requirement This follows significant price volatility, where shares experienced a 50% decline after a $2B at-the-market offering, followed by a 40% recovery after disclosing substantial ETH holdings. *Shareholders must decide between traditional cash or crypto dividends while considering the additional book entry incentive.*
Crypto Traders Warn of Potential Ether Liquidation Risk
Market sentiment shifts as previously optimistic crypto traders signal caution about Ethereum's price trajectory. Key points: - Critical support level identified at $4,200 for ETH - Breach below this threshold could trigger cascading liquidations worth billions - Bitcoin faces additional downside risks This follows the August 2024 market correction that resulted in $1B+ liquidations. *Traders are advised to monitor position sizes and leverage ratios carefully.* Historical data suggests increased market volatility during similar price action patterns.
Fundstrat Boosts Ethereum Holdings by 350,000 ETH
Fundstrat, led by Tom Lee, has significantly expanded its Ethereum position by adding 350,000 ETH to its treasury. The firm's total holdings now stand at 1.5 million ETH, up from 1.15 million. This move follows a broader trend among major Ethereum treasuries, which have been actively increasing their positions over recent weeks. - Previous holding: 1.15M ETH - New addition: 350,000 ETH - Current total: 1.5M ETH This strategic accumulation suggests growing institutional confidence in Ethereum's long-term prospects.