Global #crypto markets

Wintermute, a leading algorithmic trading firm, has become the first platform to offer over-the-counter (OTC) trading for BUIDL tokens.

Bitcoin's price has dropped to its lowest level since late November, dampening hopes for a "Santa Claus rally."

This week has been a whirlwind of activity across both the US and cryptocurrency markets, bringing significant shifts and unexpected developments.

Bitcoin has reached new heights, hitting an all-time high just above $75,560, marking its largest daily performance since March 20. The digital asset’s explosive rally is being attributed to growing market expectations of a Republican victory in the 2024 U.S. presidential election, particularly the likelihood of a second term for former President Donald Trump.

Bitcoin (BTC) saw a decline to $62,700 after hitting a near one-month high of $64,500, coinciding with China’s latest economic stimulus measures. The People's Bank of China (PBoC) cut the reserve requirement ratio for banks by 50 basis points and reduced the seven-day reverse repo rate to 1.5%.

Analysts at Bernstein have painted a positive picture for decentralized finance (DeFi) despite widespread concerns that potential Federal Reserve interest rate cuts could negatively impact Bitcoin and Ethereum.