What You Need to Know

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Bitcoin’s unique structure allows for censorship-free exchanges, enabling transactions between users without interference from either governments or businesses.

Highlighted News

Recent developments indicate President Donald Trump is contemplating ways to remove Jerome Powell, the chair of the Federal Reserve—the leading global central bank. Kevin Hassett, director of the National Economic Council, discussed Trump’s plan, impacting markets that saw a downward trend in the dollar and U.S. stock futures early Monday.

In response, Bitcoin gained momentum, surpassing the $87,000 mark, thereby confirming a bullish trend after hovering between $83,000 and $86,000. Elements of the crypto world associated with gaming and artificial intelligence have also seen significant advancements, even witnessing smaller tokens like ENJ and MAGIC rising over 50% in mere hours, with some exceptions like MANTRA, which dropped 15%.

The firm Matrixport emphasized that a declining dollar may lead to increased interest from U.S. investors, highlighting the potential of Bitcoin as a hedge against the falling dollar value.

In Other Developments:

• Rick Wurster, CEO of Charles Schwab, expressed optimism about launching spot crypto trading within the next year.
• Slovenia has proposed a 25% tax on capital gains generated from cryptocurrency sales.
• Vitalik Buterin has suggested a significant modification to the Ethereum platform that could enhance its efficiency in handling smart contracts.

Market Movements

• Bitcoin is currently up 3.19% from the previous session at $87,270.44.
• Ethereum has seen a 2.54% increase to $1,631.90.

Additional Insights

Crypto Statistics: BTC Dominance: 64% | Ethereum to BTC Ratio: 0.1873 | Hashrate: 858 EH/s

The article highlights significant movements within the cryptocurrency market, reflecting increasing investor interest and ongoing developments.