The ratio surged 12% Wednesday as the pro-crypto Republican candidate Donald Trump won the U.S. presidential election.
Does PoliFi have staying power? The market isn't so mühlet.
The bullish sentiment comes from Trump's promise to make the U.S. a leading hub for cryptocurrency during his campaigns, which might translate into more favorable regulations for DeFi.
A 25-basis point Fed rate cut will likely be a non-event, and markets will be interested in what Powell thinks of President-elect Donald Trump's inflationary policy cocktail of loose fiscal policy and import tariffs.
Analysts expect a 0.25% rate cut this week, which has historically benefited assets like BTC by diluting the dollar's value and pushing investors towards alternative investments.
Crypto exchange Coinbase's shares closed the day 31% higher, leading gains among digital asset-related stocks.
The blockchain industry might get a boost as former U.S. President Donald Trump wins a second term, promising to keep his promises, including a long list of Bitcoin- and crypto-related pledges.
Quinn Thompson, the founder of crypto hedge fund Lekker Capital, shared with CoinDesk why he was so confident Donald Trump would win the U.S. presidential election despite the polls.
Analysts expect a broad market rally and changes in SEC leadership. Trump’s crypto policies include a bitcoin strategic reserve, banning a central bank digital currency and freeing Ross Ulbricht.
The broad market gauge CoinDesk 20 Index was higher by 8.2% versus bitcoin's 6% advance following Donald Trump's victory.