JH Kim

reporter1@bloomingbit.io

Hi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.

All Articles 4,260

Cleveland Fed president "Not certain about additional rate cuts…2~3 years needed for inflation to stabilize"
Beth Hammack, president of the Federal Reserve Bank of Cleveland, expressed a cautious stance on the possibility of further rate cuts due to persistent inflation. According to Reuters on the 6th (local time), Hammack said, "Given the current level of inflation, it is difficult to say that there is a clear need to lower interest rates further." She forecasted, "Prices remain at elevated levels, and it will take 2% to return to the target, which will take 2~3 years." She also added, "Although some recent indicators show signs of easing, inflationary pressures still exist," and "policy direction will be determined by future economic data." With divided views within the Fed over the pace of rate cuts, the remarks are interpreted as a signal that they lower expectations for further easing.
November 6General
BTC
Bitcoin (BTC), briefly recovered to $101,000
Bitcoin (BTC) briefly recovered to the $101,000 level. BTC is trading at $101,012.71 on the Binance Tether (USDT) market as of 02:06 on the 7th, down 2.60% from the previous day.
November 6General
BTC
Cathie Wood "Bitcoin (BTC) 2030 target lowered to $1.2 million"
Cathie Wood, CEO of ARK Invest, lowered her 2030 Bitcoin (BTC) target from $1.5 million to $1.2 million. On the 6th (local time), according to CryptoBriefing, a crypto asset (cryptocurrency) specialized media, Wood said in a CNBC interview, "The rapid increase in the use of stablecoins in emerging markets is replacing some of Bitcoin's payment and remittance demand," and adjusted her long-term outlook. She explained, "Bitcoin is still strengthening its role as a global store of value, but in the payment area stablecoins are becoming a more practical means." However, Wood emphasized, "Bitcoin's decentralized network and limited supply still provide strong economic momentum," and "the $1.2 million outlook also reflects the long-term growth potential as a digital asset that could replace the existing financial system."
November 6General
New York stock market turns to a downtrend… Nasdaq down 1.08%
The three major U.S. stock indices are showing a downtrend. The Nasdaq Composite is trading at 23,245.12 points, down 1.08% compared with the previous day as of 00:16 on the 7th. The Dow Jones is at 47,227.72 points, down 0.61%, and the S&P 500 is at 6,754.53 points, down 0.61%.
November 6General
BTC
JPMorgan "Bitcoin (BTC) undervalued versus gold… sets $170,000 target"
JPMorgan said Bitcoin (BTC) is undervalued relative to gold and set a target price of $170,000. On the 6th (local time), according to crypto asset (cryptocurrency) specialist media CryptoBriefing, Nikolaos Panigirtzoglou, a JPMorgan strategist, analyzed that "Bitcoin remains at a lower level compared with gold's private investment value on a volatility-adjusted basis." He said, "Current market leverage has returned to normal ranges, easing overheating and speculative risks," and added, "With short-term crash risk reduced, for Bitcoin to equal the private holding asset value of gold, it would have to reach $170,000, about a 66% increase from current levels." In a report last month, JPMorgan also evaluated that "Bitcoin is being perceived as an alternative asset similar to gold and could, over the long term, absorb part of the gold market."
November 6General
New York stock market closes higher… Nasdaq up 0.79%
The three major U.S. stock indexes closed higher. The Nasdaq Composite closed at 23,531.85 points on the 6th, up 0.79% from the previous day. The Dow Jones closed at 47,398.96 points, up 0.67%, and the S&P 500 closed at 6,808.58 points, up 0.54%.
November 5General
USDC
Circle allows legal weapon purchases with USDC…revises terms of service
Stablecoin issuer Circle has revised its terms of service to change its policy toward allowing the purchase of firearms and weaponry that are legally obtained. On the 5th (local time), according to crypto-focused media Cointelegraph, Circle had previously banned all transactions related to firearms, ammunition, explosives, etc., in its prior terms, but in this revision it changed the clause to "only transactions that violate applicable laws are prohibited." Accordingly, purchases of weapons and equipment within legally permitted limits are now possible, which is seen as a sign that the use of stablecoins for payments is expanding. Meanwhile, U.S. Senator Cynthia Lummis said, "Circle allowing legal firearm purchases is a measure that respects the constitutionally guaranteed right (Second Amendment)," expressing a positive stance. This move is drawing attention alongside the Trump administration's recent pro-crypto stance and the trend toward expanding private payment freedoms within the digital dollar ecosystem.
November 5General
Citibank·DTCC "Tokenized collateral, technology is ready... the challenge is regulatory alignment"
Citibank and the Depository Trust & Clearing Corporation (DTCC) pointed out that transfers of collateral using tokenized assets face regulatory alignment as a bigger challenge than technical issues. On the 5th (local time), according to crypto-focused media CoinDesk, at the 'SmartCon' conference held in New York, Ryan Rugg, head of Citibank's digital assets division, said, "Citi's token service is currently processing live transactions in the United States, the United Kingdom, Hong Kong, and Singapore," adding, "Technically there are no issues, but each country's regulatory approval processes are a major constraint on service expansion." Nadine Chakar, DTCC's global head of digital assets, explained, "The tokenized collateral infrastructure is already sufficiently validated, but interoperability and securing legal enforceability are the key issues," and added, "Coordination among regulatory agencies must be achieved for full market expansion to be possible." Industry experts assessed that the remarks from the two institutions indicate that tokenized collateral and the construction of digital payment infrastructure are moving beyond the 'technical experimental stage' and preparing for integration with real financial systems.
November 5General
BTC
Trump: "Make the United States a Bitcoin (BTC) superpower"
Donald Trump, the President of the United States, reiterated his plan that virtual assets (cryptocurrencies) would reduce the burden on the dollar and make the United States the world's Bitcoin (BTC) center. On the 5th (local time), according to virtual asset specialist media Bitcoin Magazine, President Trump said, "Virtual assets alleviate pressure on the dollar and play a positive role in many respects," and "I will make the United States a Bitcoin superpower and the world's virtual asset capital." He added, "Not regulations that suppress innovation, but I will create an environment that can grow the digital asset industry," and "We are arranging policies so that companies and individuals can use virtual assets to increase efficiency across the economy."
November 5General
Bank of England "Stablecoin regulation will be aligned with the U.S."
The Bank of England (BOE) said it will pursue stablecoin regulation policies in step with the United States. On the 5th (local time), Bloomberg reported that Sarah Breeden (Sarah Breeden), Deputy Governor of the Bank of England, said, "The UK's stablecoin regulatory framework will be coordinated with the United States for global financial stability," adding, "Without international cooperation, the healthy growth of the stablecoin market cannot be guaranteed." The Bank of England plans to introduce a regulatory framework that includes temporary holding limits of 20,000 pounds for individual investors and 10 million pounds for companies. This is interpreted as a measure to preemptively block rapid inflows of funds or large-scale liquidity risks. Breeden also emphasized, "Stablecoins have the potential to increase the efficiency of payment infrastructure, but they must be managed so as not to cause financial system risks." The industry views this move as a signal that the UK intends to incorporate the stablecoin market into the regulated financial system.
November 5General
Trump "Possible pursuit of a joint denuclearization initiative with China and Russia"
U.S. President Donald Trump suggested that he may be discussing a plan for denuclearization with China and Russia. On the 5th (local time), according to economic breaking news channel Walter Bloomberg, President Trump said, "May be working on a plan," and said, "This would be a very important step for world security."
November 5General
Trump: "Virtual assets play a role in easing pressure on the U.S. dollar"
U.S. President Donald Trump said that virtual assets (cryptocurrency) are playing a role in easing pressure on the dollar in global financial markets. On the 5th (local time), according to economic breaking-news channel Walter Bloomberg (Walter Bloomberg), President Trump said, "Virtual assets are reducing the demand burden on the dollar within the global liquidity structure," and "the U.S. economy can take advantage of this." He added, "The digital asset ecosystem will be a tool that can enhance the efficiency of international payments and trade in the future," and emphasized, "The United States should lead this rather than stifle innovation." Trump's remarks came as the administration has been pursuing the development of the virtual asset industry and regulatory easing in parallel. Earlier, Treasury Secretary Scott Bessent had remarked, "We are designing a new financial system in which digital assets and the dollar can coexist."
November 5General
BTC
Bitcoin (BTC), temporarily gave up the $104,000 level
Bitcoin (BTC) temporarily gave up the $104,000 level. BTC is trading at $103,850.57 on the Binance Tether (USDT) market at 02:32 on the 6th, up 2.19% from the previous day.
November 5General
RLUSD
XRPL
XRP Ledger, Mastercard Conduct Payment Test
Ripple and Mastercard are conducting payment tests using RLUSD, a stablecoin based on the XRP Ledger (XRPL). On the 5th (local time), according to crypto-focused media CoinDesk, Ripple, Mastercard, WebBank, and Gemini are collaborating to conduct credit card payment settlement tests using RLUSD on the XRP Ledger. The test was revealed at Ripple's annual event 'Swell 2025'. According to sources, the project is currently undergoing regulatory approval procedures, and RLUSD is expected to be officially onboarded to the XRP Ledger within months. RLUSD is a dollar-pegged stablecoin that Ripple is preparing to issue as a digital payment asset. The industry views the test as an example demonstrating the potential for integration between traditional financial institutions and blockchain networks' payment systems. In particular, analysts say Mastercard's participation has further increased the likelihood of commercialization of blockchain technology in the global payments market.
November 5General
LINK
Chainlink (LINK) provides price feeds for the S&P Digital Market 50 Index
Chainlink (LINK) provides real-time price data to the S&P Digital Market 50 Index. On the 5th (local time), crypto (cryptocurrency) media The Block reported that the newly developed S&P Digital Market 50 Index by tokenized stock platform Dinari is a composite index that tracks the prices of 35 U.S.-listed blockchain-related companies and 15 major digital assets. Chainlink will provide the index with real-time on-chain price feeds using oracle technology, and plans to enhance the index's accuracy and transparency. Dinari said, "This collaboration is an important milestone connecting traditional finance (Finance) and the crypto market," and added, "Investors will be able to evaluate the performance of the blockchain industry as a whole with a single indicator." The S&P Digital Market 50 Index is scheduled to be officially launched in the fourth quarter of this year.
November 5General
Miran Fed board member "Continuing rate cuts still reasonable"
Steve Miran, a member of the U.S. Federal Reserve (Fed), said it remains reasonable to maintain a policy of cutting interest rates. On the 5th (local time), according to economic news channel Walter Bloomberg, Miran, who is known as a close aide to President Trump, said, "Considering current economic indicators and global uncertainty, it is reasonable to continue cutting rates." He emphasized, "Inflation is showing an easing trend while the economic recovery continues moderately," and "Excessive tightening can undermine growth momentum."
November 5General
BTC
Galaxy Digital "Bitcoin (BTC) year-end target lowered to $120,000"
Galaxy Digital lowered its year-end target for Bitcoin (BTC) from $185,000 to $120,000. On the 5th (local time), according to crypto-focused media CoinDesk, Alex Sohn, Galaxy Digital's head of research, said, "Bitcoin's short-term bullish momentum has weakened after it relinquished the $100,000 support level," explaining the downward adjustment. Sohn said, "Recent large-scale liquidations and the market-wide risk-off sentiment have acted as short-term downward pressure," adding, "however, Bitcoin's fundamentals remain solid." Meanwhile, Geoffrey Kendrick of Standard Chartered said, "Bitcoin's drop below $100,000 is probably the last correction," and analyzed, "the current range is a good zone in which to employ a laddered buy-the-dips strategy."
November 5General
BTC
Citibank "Investor sentiment rapidly deteriorated due to large-scale liquidations in October"
Citibank said the recent downturn in the virtual asset (cryptocurrency) market stemmed from the large-scale forced liquidations in October and a contraction in investor sentiment. On the 5th (local time), according to crypto-focused media CoinDesk, Citibank said in a report, "Market confidence was severely damaged after the large-scale liquidation event that occurred on October 10," and "a slowdown in demand for exchange-traded funds (ETFs) combined with deteriorating technical indicators to sharply weaken investor sentiment." Citibank assessed this liquidation event as "one of the worst forced liquidations on record," and analyzed that, despite short-term rebounds, even long-term holders (LTH) may sell some holdings. The report also added, "Liquidations occurred in succession amid thinning liquidity in the Bitcoin (BTC) and major altcoin markets, increasing volatility," and "if ETF inflows weaken, short-term adjustments may continue going forward."
November 5General
New York stock market turns higher… Nasdaq 0.45%↑
The three major U.S. stock indices are showing an uptrend. The Nasdaq Composite index is trading at 23,453.30 points, up 0.45% from the previous day as of 00:15 on the 6th. The Dow Jones index is up 0.30% at 47,227.72 points, and the S&P 500 index is up 0.25% at 6,788.76 points.
November 5General
New York stock market closes lower… Nasdaq down 2.04%↓
The three major U.S. stock indices closed lower. The Nasdaq Composite recorded 23,348.64 points on the 5th, down 2.04% from the previous day. The Dow Jones Industrial Average ended trading at 47,085.61 points, down 0.53%, and the S&P 500 ended at 6,772.76 points, down 1.16%.
November 4General
BTC
MARA Holdings, Q3 revenue 252 million dollars…up 92% year-on-year
Bitcoin (BTC) miner MARA Holdings recorded strong growth in both revenue and net income in Q3 this year. On the 4th (local time), according to crypto-focused media Decrypt, Nasdaq-listed MARA Holdings' Q3 revenue was 252 million dollars, approximately 92% higher than the same period last year (131 million dollars). Net income amounted to 1.223 billion dollars. This contrasts with a net loss of 124 million dollars in the same period last year. The company said that improvements in Bitcoin mining efficiency, expanded hashrate (computing power), and a rise in the value of held BTC were the main factors behind the improved results. MARA Holdings has been continuing to expand mining infrastructure in Texas, North Dakota, and elsewhere, and is strengthening profitability through power efficiency and asset management optimization strategies. The company also plans to increase its hashrate to over 50 EH/s (exahashes per second) by 2025.
November 4General
BTC
Bitcoin (BTC), temporarily relinquished the 100,000-dollar level
Bitcoin (BTC) temporarily relinquished the 100,000-dollar level. BTC is trading at 99,869.11 dollars, down 6.43% from the previous day, based on the Binance Tether (USDT) market at 05:18 on the 5th.
November 4PiCK
BeraChain Foundation recovers 12.8 million dollars of funds lost in Balancer hack
BeraChain Foundation has recovered 12.8 million dollars of the assets it lost in the Balancer V2 hack. On the 4th (local time), according to CryptoBriefing, a media outlet specializing in virtual assets (cryptocurrencies), BeraChain Foundation said it succeeded in tracing and recovering a significant portion of the funds lost due to a smart contract vulnerability in Balancer V2. Earlier, Balancer suffered a large-scale hacking attack last month in which assets worth about 100 million dollars were stolen. At that time, the attacker was reported to have exploited a liquidity pool vulnerability in the V2 protocol to move various assets. BeraChain said, "Through cooperation with the community and blockchain security firms, we recovered 12.8 million dollars of the stolen funds," and "We are cooperating with law enforcement agencies and exchanges to recover the remaining stolen assets." This recovery is cited as a representative case of a decentralized finance (DeFi) project recovering from an external hack, and the industry has evaluated that "strengthening protocol transparency and rapid response contributed to minimizing the damage." ![Photo=Shutterstock](%s)
November 4General
BTC
Bitcoin (BTC) briefly recovers to $101,000
Bitcoin (BTC) briefly recovered to the $101,000 level. BTC is trading at $101,182.05 on the Binance Tether (USDT) market at 03:45 on the 5th, down 5.35% from the previous day.
November 4General
BTC
Bitcoin(BTC), temporarily gave up the $101,000 level
Bitcoin (BTC) temporarily gave up the $101,000 level. BTC is trading at $100,893.03, down 5.58% from the previous day, based on the Binance Tether (USDT) market at 02:17 on the 5th.
November 4General
BTC
Bitcoin (BTC) temporarily gave up the $102,000 level
Bitcoin (BTC) temporarily gave up the $102,000 level. As of 02:02 on the 5th, on the Binance Tether (USDT) market, BTC is trading at $101,921.10, down 4.44% from the previous day.
November 4General
U.S. Treasury sanctions North Korean banks and individuals over virtual asset money laundering allegations
The U.S. Treasury sanctioned North Korean financial institutions and individuals over allegations of money laundering using virtual assets (cryptocurrency). On the 4th (local time), according to crypto-focused media CoinDesk, the U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) added eight North Korean bankers and two institutions to its sanctions list on allegations of involvement in laundering virtual assets worth hundreds of millions of dollars. A Treasury official said, "Hacker groups supported by the North Korean government are stealing virtual assets to finance their nuclear weapons development programs and laundering them," adding, "These sanctions are measures to disrupt illegal cyber activity and the financing networks that enable the proliferation of weapons of mass destruction (WMD)." OFAC also added that it is considering additional sanctions on foreign financial institutions that used the international financial system to support or conceal the flow of funds for North Korean hackers.
November 4General
BTC
Sequans sells 970 Bitcoin (BTC) to repay half of convertible bond debt
Nasdaq-listed semiconductor company Sequans Communications sold Bitcoin (BTC) to repay half of its convertible bond debt. On the 4th (local time), crypto asset media CoinDesk reported that Sequans sold 970 BTC it held to secure approximately $94.5 million, and with this repaid half of its total $189 million convertible bonds. After this sale, Sequans' Bitcoin holdings decreased to 2264. However, Georges Karam, Chief Executive Officer (CEO), said, "There is no change to the long-term Bitcoin investment strategy," and added, "We will continue the digital asset holding policy while securing financial soundness." Sequans included Bitcoin as a strategic asset from 2023 to diversify its corporate financial portfolio, and has since liquidated some holdings depending on market conditions. Industry observers view this move as part of a "cash liquidity securing strategy" to improve the company's financial structure.
November 4General
BTC
Bitcoin (BTC) temporarily gave up $103,000
Bitcoin (BTC) temporarily gave up $103,000. BTC is trading at $102,753.55, down 3.36% from the previous day, based on the Binance Tether (USDT) market at 01:30 on the 5th.
November 4General
BTC
Bitcoin (BTC) temporarily relinquished the $104,000 level
Bitcoin (BTC) temporarily relinquished the $104,000 level. BTC is trading at $103,677.17, down 2.06% from the previous day on the Binance Tether (USDT) market at 00:51 on the 5th.
November 4General

Cleveland Fed president "Not certain about additional rate cuts…2~3 years needed for inflation to stabilize"

Bitcoin (BTC), briefly recovered to $101,000

Cathie Wood "Bitcoin (BTC) 2030 target lowered to $1.2 million"

New York stock market turns to a downtrend… Nasdaq down 1.08%

JPMorgan "Bitcoin (BTC) undervalued versus gold… sets $170,000 target"

New York stock market closes higher… Nasdaq up 0.79%

Circle allows legal weapon purchases with USDC…revises terms of service

Citibank·DTCC "Tokenized collateral, technology is ready... the challenge is regulatory alignment"

Trump: "Make the United States a Bitcoin (BTC) superpower"

Bank of England "Stablecoin regulation will be aligned with the U.S."

Trump "Possible pursuit of a joint denuclearization initiative with China and Russia"

Trump: "Virtual assets play a role in easing pressure on the U.S. dollar"

Bitcoin (BTC), temporarily gave up the $104,000 level

XRP Ledger, Mastercard Conduct Payment Test

Chainlink (LINK) provides price feeds for the S&P Digital Market 50 Index

Miran Fed board member "Continuing rate cuts still reasonable"

Galaxy Digital "Bitcoin (BTC) year-end target lowered to $120,000"

Citibank "Investor sentiment rapidly deteriorated due to large-scale liquidations in October"

New York stock market turns higher… Nasdaq 0.45%↑

New York stock market closes lower… Nasdaq down 2.04%↓

MARA Holdings, Q3 revenue 252 million dollars…up 92% year-on-year

Bitcoin (BTC), temporarily relinquished the 100,000-dollar level

BeraChain Foundation recovers 12.8 million dollars of funds lost in Balancer hack

Bitcoin (BTC) briefly recovers to $101,000

Bitcoin(BTC), temporarily gave up the $101,000 level

Bitcoin (BTC) temporarily gave up the $102,000 level

U.S. Treasury sanctions North Korean banks and individuals over virtual asset money laundering allegations

Sequans sells 970 Bitcoin (BTC) to repay half of convertible bond debt

Bitcoin (BTC) temporarily gave up $103,000

Bitcoin (BTC) temporarily relinquished the $104,000 level