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Bitcoin surges to fresh highs above $75,000, fueled by renewed debasement trades and Treasury buyback announcements. I reiterate buy ratings on Bitcoin, IBIT, and BTC, citing strong momentum, macro tailwinds, and technical support at $73,000. Implied volatility for IBIT has spiked to 40% ahead of key macro events, signaling heightened risk and opportunity.
Bitcoin jumped 4.6% to $72,475.25 – a roughly 12% gain over the past two days after the digital asset was trading near $63,000 earlier this week.
Robert Mitchnick, head of digital assets at BlackRock, joins Isabelle Lee and Eric Balchunas on "Bloomberg ETF IQ." Hackers have stolen more than $130 million worth of Bitcoin from thousands of supposedly secure cold wallets in recent days.
Bitcoin has reclaimed several important technical levels, and improving momentum suggests the cryptocurrency could be setting up for another advance if key resistance is cleared.
Coinbase (NASDAQ:COIN | COIN Price Prediction) Head of Institutional Strategy John D'Agostino used a recent CNBC Squawk Box appearance to push back on the wave of skepticism that has followed a brutal stretch for crypto prices.
Spot or index ETFs are good ways for ordinary investors to add cryptocurrencies to their portfolios, and there are higher-end options for the wealthy.
Bitcoin is trading at its lowest level since October 2024. That's bad news for crypto bulls and ETFs,
Bitwise Crypto Industry Innovators ETF is rated a Buy at just below $27 per share, reflecting its strong correlation with Bitcoin's bullish trend. BITQ benefits from U.S. legislative support, expanded institutional adoption, and its diversified exposure to crypto miners and platforms. BITQ's momentum is robust, with higher lows and highs since late 2022, but volatility remains high, warranting cautious position sizing.