Coindesk

Bitcoin (BTC) returned to positive territory for the year for the first time in almost two months, approaching $95,000 and erasing a drop of as much as 18%.Its current performance, up less 1.5% since Dec. 31, places it between gold, which has gained 24% and the Nasdaq 100, which is down over 7%. As a result, the narrative positioning bitcoin as either a leveraged tech stock or digital gold is leaning slightly toward the digital gold narrative. But only just.Analyzing bitcoin’s correlation coefficients over a 30-day moving average, the largest cryptocurrency by market capitalization now shows a strong correlation of 0.70 with gold and a weaker 0.53 correlation with the Nasdaq 100. This suggests bitcoin is aligning more closely with...

Crypto markets traded flat during the Asia morning hours, with bitcoin (BTC) trading above $94,000 and the CoinDesk 20, a measure of the performance of the largest cryptocurrencies flat.XRP led majors gains with a 4% move higher from the past day, driven by a ProShares ETF approval that will see three futures-tracked products go live on April 30. Cardano’s ADA, BNB Chain’s BNB and ether (ETH) showed moves between 1-3%.One exception to the relatively dormant market has been privacy coin Monero (XMR), up more than 40% in the past 24 hours. It traded over $320 in Asian morning hours Monday, a level last seen in May 2021.Trading volumes zoomed from an average of $50 million on a 7-day rolling basis...

Exchange-traded funds (ETF) issuer ProShares will introduce three XRP-tracked products this week after a tacit U.S. Securities and Exchange Commission (SEC) approval.It will launch an Ultra XRP ETF (2x leverage), a Short XRP ETF and an Ultra Short XRP ETF (-2x leverage), filings show. Its spot XRP approval stays hanging, however. The SEC has acknowledged several XRP spot ETF applications so far, with fund manager Grayscale’s filing facing a critical May 22 deadline.ProShares’ approvals come weeks after Teucrium’s 2x XRP ETF started trading earlier this month, becoming the first XRP ETF in the U.S. It racked over $5 million in trading volumes on the first day, becoming the firm’s “most successful” launch to date.Last week, the CME Group added XRP...

April has been a month of extreme volatility and tumultuous times for traders.From conflicting headlines about President Donald Trump's tariffs against other nations to total confusion about which assets to seek shelter in, it has been one for the record books. Amid all the confusion, when traditional "haven assets" failed to act as safe places to park money, one bright spot emerged that might have surprised some market participants: bitcoin. "Historically, cash (the US dollar), bonds (US Treasuries), the Swiss Franc, and gold have fulfilled that role , with bitcoin edging in on some of that territory," said NYDIG Research in a note. NYDIG's data showed that while gold and Swiss Franc had been consistent safe-haven winners, since 'Liberation Day'—when...

TRUMP, the memecoin tied to U.S. President Donald Trump, is up about 16% in the last 24 hours, even as Democratic lawmakers cite the president’s involvement with the token as potential grounds for impeachment and after a massive unlock earlier in the month.At a town hall on Friday, Sen. Jon Ossoff (D-Ga.) pointed to the crypto project offering its top holders an invitation to a dinner event with President Trump, calling it a clear case of selling access to the presidency, NBC News reports.“When the sitting president of the United States is selling access for what are effectively payments directly to him. There is no question that that rises to the level of an impeachable offense,” Ossify said.U.S. Senators Adam...