Bitcoin reached $78,000 amid geopolitical developments as Iran declared the Strait of Hormuz 'completely open.' The market was also boosted by strong ETF inflows, highlighting the influence of geopolitical events on crypto prices.
Rep. Sheri Biggs of South Carolina disclosed buying $100,001-$250,000 worth of BlackRocks Bitcoin Trust ETF (IBIT) on March 4. Her household has made multiple crypto ETF investments, with the latest filing on April 16. This highlights growing institutional interest in Bitcoin ETFs among U.S. lawmakers.
Coinbase Derivatives submitted a market maker program to the CFTC, running from May 1 to November 30, featuring XRP among supported assets. The program aims to improve liquidity for crypto derivatives, signaling institutional engagement and growing market infrastructure for XRP.
Crypto ETFs saw continued gains, with Bitcoin adding $26.05M and Ether $18.02M in inflows. Major assets like XRP and Solana also posted strong gains, signaling steady recovery in crypto investment markets.
XRP surged to $1.47, up 8.66% last week, driven by ETF inflows and institutional demand. The rally outperformed Bitcoin and Ethereum, with XRP's market cap near $91 billion. Technical signals and bullish sentiment at key resistance levels contributed to the rally.
Speculation about a Solana and XRP collaboration has sparked market buzz. A cryptic Solana post referencing XRP has fueled hopes of interoperability or a merger, but no official confirmation exists yet.
Crypto Council for Innovation (CCI) added Digital Energy Council as its first energy-focused member, marking a move into digital energy policy. This expands CCI's scope and signals increased focus on digital energy issues within the crypto industry.
