🚨 Don’t Miss This: The Hottest Crypto & Web3 Headlines Right Now!

News

🇸🇪 Can Sweden Include Bitcoin Into Foreign Exchange Reserve?

Sweden is exploring the possibility of adding Bitcoin to its foreign currency holdings amidst the growing trend of BTC reserves. Member of Parliament Rickard Nordin submitted a request to the Finance Minister, Elisabeth Svantesson, to reconsider the country’s foreign exchange reserve management.

📢 What Next For Crypto Market As China, EU Announce Retaliatory Tariffs On US Goods?

The crypto market is currently in a state of uncertainty and risks further downside as China and the EU announce retaliatory tariffs on US goods. Some analyses suggest that the market could drop lower, led by Bitcoin, while others indicate that this might be the bottom, regardless of whether the trade war persists.

Markets

🚀 BTC Price Eyes Rally as $2T Treasury Trade Unfolds—Fed Emergency Rate Cut Bets Soar

Bitcoin (BTC) is up 1.26% today in the early Asian session after crashing 3.71% on Tuesday. Bitcoin trades today at $76,481. While BTC price attempts to undo its losses, the trade war triggered by US President Donald Trump has caused the US Treasury market to spiral into chaos. The 10-year yield rocketed to 4.5%, and the 30-year yield hit 5%. Some speculate this could be a $2 trillion basis trade unwind while others hint it could be China selling treasuries. Regardless of the reason, markets speculate that this could prompt the Federal Reserve to announce an emergency rate cut, which could prompt a buying spree from crypto investors, catalyzing a bullish reversal for BTC price.

⚠️ Solana Price Tumbles as SOL Founder Compares Looming US Bond Market Crisis to MicroStrategy

Crypto assets are facing turbulence amid the ongoing trade war between the US and China. Solana (SOL) has been among the worst-hit altcoins amid macroeconomic fears, with its price dropping by 15% in just seven days. The decline could worsen in the coming days after a sharp spike in the 10-year note yield triggering concerns about a looming crisis in the US bond market, which SOL founder Anatoly Yakovenko compared to MicroStrategy.