{"id":23782,"date":"2025-04-26T12:40:44","date_gmt":"2025-04-26T12:40:44","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=23782"},"modified":"2025-04-26T12:40:44","modified_gmt":"2025-04-26T12:40:44","slug":"coindesk-weekly-recap-finally-the-bitcoin-rally","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=23782","title":{"rendered":"CoinDesk Weekly Recap: Finally, the Bitcoin Rally"},"content":{"rendered":"
\n

After several weeks on a plateau, bitcoin saw some action this week, climbing to more than $95,000 at press time. It was up 12% on the work-week, buoyed by better macro news and a feeling that the worst of tariff-mania may be over. <\/p>\n

The CoinDesk 20<\/a> \u2014 which tracks about 80% of crypto market cap \u2014 jumped 10%-plus in the last five days.<\/p>\n

In an interview with CoinDesk\u2019s Sam Reynolds, Coinbase Institutional’s John D\u2019Agostino attributed the rally<\/a> to institutions and sovereign wealth funds accumulating bitcoin. Retail traders, by contrast, were tending to exit bitcoin ETFs, he said.<\/p>\n

Institutions continued to back bitcoin-accumulation vehicles. On Wednesday, Strike CEO Jack Mallers and Cantor Fitzgerald\u2019s Brandon Lutnick unveiled Twenty One Capital<\/a>, a new bitcoin investment company backed by Tether, Bitfinex, and SoftBank. Twenty One will have the third largest bitcoin corporate treasury with 42,000 BTC, Reynolds and Francisco Rodrigues reported. <\/p>\n

There was increasing evidence from the options markets that traders are willing to hold BTC through market swings<\/a>, which explains why bitcoin held relatively steady when stocks and bonds were diving in recent weeks. CoinDesk\u2019s market wizard Omkar Godbole reported on that.<\/p>\n

Bitcoin became the fifth most-valuable of all financial assets<\/a> this week, surpassing Google\u2019s market cap for the first time. Not bad for a protocol that started as a hobby among cypherpunks 20 years ago. <\/p>\n

In other news, Zora\u2019s much-hyped token launch sagged a little on debut<\/a>. Analysts said traders were weary of so-called \u201cVC tokens\u201d with relatively little liquidity. \u201cThe $ZORA launch highlights a recurring issue in Web3: overpromising and underdelivering,\u201d Min Jung, a research analyst at Presto, told markets reporter Shaurya Malwa.<\/p>\n

Ouch.<\/p>\n

But rising prices for core crypto assets is opening space for expansive Web 3 ideas. This week, the hit British TV series Peaky Blinders launched<\/a> a blockchain-based video game and Web3 \u201cecosystem,\u201d for instance. And, in a shift from a year ago, we saw plenty of other gaming and cultural-crypto news announcements.<\/p>\n

Still, if you had to pick two winners in the current market, you\u2019d have to go for bitcoin and\u2026 stablecoins (there are going to be hundreds of them soon). This week, USDC-issuer Circle announced a new global payments and remittances network<\/a> (Ian Allison reported), and Coinbase free conversion between U.S. dollars and PayPal’s PYUSD stablecoin.<\/p>\n

You can\u2019t go really too far wrong \u2014 though it\u2019s not investment advice \u2014accumulating bitcoin, and paying in stables.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

After several weeks on a plateau, bitcoin saw some action this week, climbing to more than $95,000 at press time. It was up 12% on the work-week, buoyed by better macro news and a feeling that the worst of tariff-mania may be over. The CoinDesk 20 \u2014 which tracks about 80% of crypto market cap […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-23782","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/23782","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=23782"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/23782\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=23782"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=23782"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=23782"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}