Analysis: Trump's support for cryptocurrencies a key factor in his 2024 presidency
10 hours ago
Odaily News Chris LaCivita, co-manager of Trump's campaign, said at the Coinbase Crypto Summit that Trump's support for cryptocurrency has become a key factor in his successful inauguration in 2024. LaCivita pointed out that the issue of cryptocurrency has helped the Republican Party attract voter groups that have traditionally leaned toward the Democratic Party, including African Americans, Asian Americans and young voters. Data shows that 28% of Asians and about 20% of African Americans hold cryptocurrencies, far higher than the 14% of white people. The Trump administration has written crypto-friendly policies into the Republican platform, promising to protect Bitcoin miners and ban central bank digital currencies. At the same time, political action committees backed by Coinbase and Ripple Labs have invested more than $200 million in the 2024 election, boosting the influence of crypto assets in American politics. (Decrypt)
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2025-06-16 09:43:55
QCP: BTC remains strong amid escalating tensions in the Middle East, with institutions continuing to increase their holdings to support prices
Odaily News QCP Capital said in its latest market view that despite the escalation of tensions in the Middle East, Bitcoin (BTC) has not seen a panic drop. After a brief pullback last Friday due to news from Iran and Israel, BTC has rebounded from $102,800 to $107,000, and the overall market sentiment has stabilized. QCP pointed out that the resilient performance of BTC prices is supported by the continued increase in institutional positions, including the "buy the dip" actions of companies such as Metaplanet and Strategy, and the BTC spot ETF has recorded net inflows for seven consecutive weeks. Compared with a drop of more than 8% in a similar situation in April last year, BTC has only fallen by about 3% this time, and has held the key psychological level of $100,000, indicating that the market's ability to withstand pressure has increased. In addition, the implied volatility of BTC short-term options is still below 40, the VIX index remains around 20, and U.S. Treasuries and some Asian sovereign bonds have continued to receive capital inflows, indicating that the overall market has not yet fully entered a risk-averse mode. However, QCP also warned that if the Strait of Hormuz is blocked due to the situation in Iran, or the United States directly intervenes in the conflict, it may cause oil prices to soar and disturb global risk assets. But from a structural point of view, this macro dislocation and geopolitical turmoil may continue to promote BTC as a "safe asset" to be sought after.
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