Bitcoin Rally Still Has Room to Run Despite 150% Gain
-
Bitcoin has gained 150% so far this year, but is still 40% below its all-time high from 2021. Historical patterns suggest it could extend its rally for at least another year.
-
The 1-year HODL Wave, which tracks bitcoins that haven't moved wallets in a year, typically declines as bitcoin's price rises. This pattern suggests bitcoin still has room to climb.
-
Coinbase is launching an international spot trading exchange for non-US users, starting with bitcoin and ether trading for institutions. This comes amid an SEC lawsuit alleging Coinbase was operating an unregistered exchange.
-
KuCoin agreed to ban New York users and pay $22 million in a settlement over allegations it operated illegally in the state and misled investors. It will refund $16.7 million to NY users.
-
Bitcoin fell 6.4% over the past week but remains above $42,000. Ether lost 4% to about $2,200 over the same period.