In this episode of Coin Street headlines, we dive into the latest developments in the cryptocurrency market and beyond. Headlines Covered: Bitcoin’s potential volatility this month and the need for a new catalyst to push prices above $117,000. Predictions from Bitmine chair Tom Lee and BitMEX co-founder Arthur Hayes about ether reaching $10,000 this year, despite recent market fluctuations. The Bank of England’s plans to limit stablecoins and the industry’s response to these proposed measures. U.S. President Donald Trump’s comments on the ongoing trade war with China and the implications of potential tariffs on rare earth minerals. Jane King with the latest from the NYSE.
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Here's a look at your Coin Street headlines.
Bitcoin will need something new and shiny to drive it to fresh highs, as some analysts warn the asset could face a volatile month ahead.
Glassnoe says without a renewed catalyst to lift prices back above $117,000 the market risks deeper contraction toward the lower boundary of the recent range.
Highblock Capital CEO Shue Varma told Coin Telegraph that he expects a relatively volatile month with Upside ranging from $116,000 to 120,000.
Well, Bitine chair Tom Lee and BitMex co-founder Arthur Hayes are holding strong on their prediction that Ether will hit $10,000 this year despite the recent crypto crash and there's being less than 3 months left.
Lee emphasized a significant rally like this wouldn't signal excessive market froth either, as Ether has largely been consolidating within their range since hitting an all-time high of 4800. $78 in 2021.
Well, the Bank of England is clarifying its plan to limit stablecoins.
They do say it's temporary.
Industry groups criticized the proposed stablecoin limits, arguing they would stifle innovation and signal to the industry that the UK isn't crypto-friendly.
Bank of England Deputy governor Sarah Breeden says the measures will allow the structure of real economy financing to adjust to stablecoins and ensure the bank can monitor adoption of stablecoins and assess the potential.
For rapid changes in the structure of the financial system, asked by reporters whether the US is preparing for a trade war with China, US President Donald Trump responded, Well, we're in one now.
Trump said he would impose a 100% tariff on China after China tightened its export controls on rare earth minerals that are essential for building computer chips.
The tariff currently stands at about 57% on China origin mining machines, and that is the latest coin Street headlines.