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Buying for the trust has picked up on hopes the SEC might soon approve a spot bitcoin ETF.
The bank previously said it expected the cryptocurrency to reach $100,000 by then.
The latest price moves in crypto markets in context for July 10, 2023.
China is exporting deflation across the Western world. Ultimately this will be good for risk assets as it relates to the end of the global interest-rate increase cycle, one observer said.
PLUS: The dYdX Foundation's Charles d'Haussy says that dYdX's move away from Ethereum might be the beginning of a broader trend.
The Bureau of Labor Statistics will release the nonfarm payrolls report for June at 12:30 UTC.
Such ETFs have existed for some time in Canada and Europe, but have failed to attract large investor interest, the report said.
PLUS: Bitcoin tumbled below $30,000 for the first time in almost two weeks after a disappointing ADP private sector jobs report and ISM services index, but regained some ground later on Thursday.
The largest and smallest bitcoin whales have added to their holdings, but the group in between has jettisoned some of their tokens.
- 13:31Indian cryptocurrency holders face a 70% tax penalty for not disclosing earningsAccording to India's Finance Minister Nirmala Sitharaman in the 2025 federal budget announcement, cryptocurrency will be included in Section 158B of the Income Tax Act for reporting undisclosed income. The amendment allows for collective assessment of unreported cryptocurrency gains, giving it the same tax treatment as traditional assets such as currency, jewelry and gold bars. According to the new amendment, cryptocurrencies will fall under the definition of Virtual Digital Assets (VDA), with the new amendment stating: "Under existing definitions of virtual digital assets, crypto-assets have been defined in section 2(47A) of this law [...] Under section 285BAA of this law, reporting entities will be required to provide information on crypto-assets." As a signal to concerns from cryptocurrency holders, Indian authorities may impose up to a 70% tax penalty on previously undisclosed cryptocurrency profits. According to this document, this fine could apply for up to 48 months after relevant fiscal years where crypto earnings were not disclosed; it states that an additional income disclosed in updated Income Tax Return [ITR] forms should pay taxes and interest totaling 70%.
- 13:28Data: Bitcoin mining revenue in January was 1.4 billion US dollars, a decrease of 2.78% from the previous monthAccording to The Block data, Bitcoin mining revenue reached $1.4 billion in January 2025, a decrease of 2.78% compared to $1.44 billion in December 2024.
- 13:26Zhu Su: The more tokens are issued, the more irreplaceable Bitcoin becomesThe founder of Three Arrows Capital, Zhu Su, posted on social media saying that with thousands of tokens being issued every day, the irreplaceability of Bitcoin becomes even more clear.