Intesa Sanpaolo, Italy’s largest banking group, has made headlines by purchasing 11 Bitcoins for approximately $1 million, marking it as the first Italian bank to invest directly in cryptocurrency. This move follows a leaked internal email and comes amid a significant increase in Italy’s capital gains tax on Bitcoin, rising from 26% to 42%. The bank’s motivations remain unclear, but it signals a growing interest in digital assets within Italy’s traditional financial landscape.
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January 14, 2025 | 01:52Bitcoin
703 posts last weekBitcoin (BTC) is a decentralized digital currency that enables peer-to-peer transactions on a blockchain, operating without a central authority or intermediary.
Trump’s First Day Could Bring Major Changes for Crypto Industry
On January 20, President-elect Donald Trump is expected to sign executive orders impacting the crypto industry, including measures against crypto de-banking and repealing a bank accounting policy that lists digital assets as liabilities. Trump’s administration aims to counteract the Biden administration’s regulatory pressures on banks, which have been accused of limiting financial services to the crypto sector. Additionally, tech executive Marc Andreessen is reportedly assisting in shaping Trump’s administration, focusing on tech and defense roles.
read moreBitcoin rebounds to 94000 as Trump plans pro crypto executive orders
Bitcoin surged back to $94,000 as Donald Trump prepares to sign pro-crypto executive orders on his first day in office, potentially overturning key regulations like the SEC’s Staff Accounting Bulletin 121. This move aims to address banking restrictions and enhance crypto custody services, which have been hampered by current policies. The crypto market reacted positively, with Ethereum also recovering, signaling optimism for a more crypto-friendly regulatory environment under Trump’s administration.
read moreBitcoin Price Shows Signs of Recovery Amid Resistance Levels
Bitcoin is showing signs of recovery, rising from the $89,200 zone and trading above $94,000, with immediate resistance at $95,200 and key resistance at $95,800. If it surpasses this level, further gains could push the price towards $97,400 and potentially $99,500. However, failure to break above $95,800 may lead to a decline, with major support levels at $94,000 and $93,200.
read moreBitcoin Price Analysis and Future Predictions Amid Market Volatility
Bitcoin’s current price of $90,000 is viewed as a favorable entry point for long-term investors, despite warnings of a potential dip to $70,000. Analysts suggest that while short-term volatility may occur, Bitcoin is expected to be one of the best-performing assets this year, with projections reaching $180,000 to $200,000 by the end of 2025. Key upcoming economic data, including inflation reports, could influence market movements.
read moreBitcoin Short-Term Holders Experience Losses Amid Market Downturn
Bitcoin short-term holders are now selling at a loss, as indicated by the Spent Output Profit Ratio (SOPR) dipping below 1. This trend suggests a shift from profit-taking to loss realization among investors who bought within the last 155 days, coinciding with a recent 3% price drop to $91,600. Historically, such capitulation events have often marked market tops, indicating potential further declines before a bullish reversal occurs.
read moreBitcoin Investors Show Confidence Amid Price Decline and Market Shifts
Despite a 6.25% drop in Bitcoin’s price in mid-January, fresh addresses are accumulating Bitcoin, while mid-term and veteran holders are increasing their stakes. New buyers face immediate pressure, but seasoned investors show confidence, with many dramatically boosting their holdings, indicating a strong foundation for potential future price movements.
read moreBitcoin Price Analysis: Testing Support at 91000 Range Low
Bitcoin has dropped to the Range Low of $91,000, briefly rebounding before falling back. A daily close below this level could turn it into resistance, potentially pushing the price into the $87,000-$91,000 range. However, there is still time for Bitcoin to maintain $91,000 as support.
read moreBitcoin Adoption Surpasses Internet and Mobile Phones According to BlackRock Report
Bitcoin adoption is rapidly surpassing that of the internet and mobile phones, driven by demographic trends, economic shifts, and advancements in digital asset infrastructure. Younger generations are leading this trend, favoring Bitcoin as a decentralized asset amid rising inflation and geopolitical tensions.BlackRock’s spot Bitcoin ETF, IBIT, has gained significant traction, with nearly $38 billion in inflows, making it the largest of its kind. The firm recently launched a Canadian dollar-denominated version, further promoting Bitcoin exposure as direct investment remains complex for many.
read moreTrump to Issue First Crypto Executive Order on Inauguration Day
President-elect Donald Trump is set to issue a crypto-related executive order on his first day in office, establishing a presidential crypto council and directing the SEC to reconsider the SAB 121 rule that limits banks’ crypto holdings. This initial order is expected to be the first of many, with further reforms aimed at enhancing the regulatory framework for digital assets, including collaboration between the CFTC and SEC and international coordination on crypto innovation. Trump’s transition team is actively soliciting proposals for additional crypto-related executive orders as his inauguration approaches.
read moreJPMorgan Predicts Significant Inflows for Solana and XRP ETPs
JPMorgan estimates that exchange-traded products (ETPs) for Solana and XRP could attract over $15 billion in net inflows, with potential inflows of $3-6 billion for Solana and $4-8 billion for XRP. Currently, Solana ETPs hold nearly $1.6 billion in assets, while XRP products have $910 million. However, the approval of ETFs for these assets in the US remains unlikely, with the SEC recently rejecting Solana ETFs and XRP still facing regulatory scrutiny. For more information, visit [Bloomberg](https://www.bloomberg.com).
read moreCapital Group Acquires 5 Percent Stake in Metaplanet Bitcoin Investor
Capital Group has acquired a 5% stake in Metaplanet, a notable investor in Bitcoin. This move highlights the growing interest of traditional investment firms in the cryptocurrency space, signaling a potential shift in market dynamics.
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