Bitcoin and Crypto Thread


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Hopefully everyone packed their bags. It looks like we are getting a rally now. People are predicting maybe one rally now, and things usually cool off in the summer and maybe a second rally at the end of the year.. but who knows, just remember to take profits


Even if we do get an alt coin season in the next few days and weeks, that doesn’t necessarily mean all of the naysayers in this thread are wrong. 90% of the guys buying cryptocurrency lose money so remember to take profits on the way up.

Edit from the article

bitcoin News Today: Bitcoin Price Surges Past $101K as U.S. Legalizes Strategic BTC Reserves and Global Adoption Rises

Binance News
4h

Verified Binance official account
AI Summary
Bitcoin breaks $101,700 as bullish regulation, ETF inflows, and trade deals fuel fresh momentum

Bitcoin (BTC) has reclaimed six-figure territory, hitting $101,707 on May 8, 2025, marking a major milestone driven by accelerating global adoption and a series of bullish U.S. policy shifts. The top cryptocurrency has rallied over 4.5% in the past 24 hours, breaking past the key psychological level of $100,000, with traders now eyeing it as a potential new support zone.

Key Highlights:

BTC price hits $101,707, boosted by U.S. crypto policy and trade optimism

Legislation passed in two U.S. states to allow Bitcoin strategic reserves

Bitcoin ETFs and institutional inflows continue to climb

U.S. banks approved to trade and custody crypto assets

Positive momentum follows Trump’s trade deal announcement with the UK

Trump’s Trade Deal and Market Surge

Bitcoin’s latest rally aligns with a new trade agreement announcement by U.S. President Donald Trump involving the United Kingdom, possibly removing the 10% blanket tariff on imports. Trump’s Truth Social post hinted at multiple upcoming deals:

“Many other deals, which are in serious stages of negotiation, to follow!”
The traditional financial markets responded immediately:

Dow Jones: +500 points

S&P 500: +1.47%

BTC/USD: Trades near $101,600

Markets are now awaiting the outcome of U.S.-China talks scheduled for May 10 in Switzerland.


Strategic Bitcoin Reserves Now Legal in U.S. States

In a landmark move, two U.S. states passed bills allowing the formation of state-level Bitcoin reserves:

Missouri’s Bill 594, passed May 8, eliminates capital gains taxes on BTC.

Another state followed suit, indicating a growing trend of Bitcoin integration into public finance.

This shift comes amid increasing recognition of Bitcoin’s value as a strategic financial asset and inflation hedge.

Regulatory Green Light: Banks & Crypto Trading

In parallel with state legislation, the Office of the Comptroller of the Currency (OCC) announced that U.S. banks can now:

Trade crypto on behalf of customers

Outsource crypto custody to licensed third parties
 
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