Bitcoin's Supercycle, Crypto's Capitol Breakthrough, And More: This Week In Crypto

The past week was a rollercoaster for the cryptocurrency world. From predictions of a Bitcoin BTC/USD supercycle to a groundbreaking Senate subcommittee on digital assets, the crypto landscape is buzzing with activity. Here’s a quick recap of the top stories that shaped the crypto market over the weekend.

Bitcoin Supercycle on the Horizon?

Economist and trader Alex Kruger has expressed a bullish outlook on Bitcoin, despite the cryptocurrency currently trading 13% below its all-time high. Kruger attributes this optimism to the approval of spot Bitcoin exchange-traded funds (ETFs) in January 2024, which he suggests may alter Bitcoin's traditional four-year halving cycles.

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Crypto’s Capitol Hill Breakthrough

In a significant development, the Senate Banking Committee announced the creation of its first-ever subcommittee dedicated to cryptocurrency and blockchain technology. This move signifies a shift in the political landscape, indicating a broader acceptance and integration of digital currencies into the mainstream of U.S. governance.

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Bitcoin’s Q1 Prospects

Despite Bitcoin’s struggle between $90,000 and $100,000, analysts and traders remain upbeat about its prospects in the first quarter of 2025. Asymmetric Fund CEO Joe McCann shared his "tactical short-term bearish" outlook for the cryptocurrency market but remains optimistic about Q1 as a seasonally profitable period.

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Scaramucci’s Crypto Strategy

Anthony Scaramucci, CEO of investment firm SkyBridge Capital, revealed his take-profit strategy for cryptocurrencies. He stated that he would not sell his Bitcoin but rather target altcoins such as Solana (SOL/USD) in the long run.

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Unfortunate Bitcoin Loss

James Howells, known for accidentally discarding a hard drive containing 8,000 Bitcoin, suffered a setback in his quest to reclaim his fortune. A high court ruling dismissed Howells' legal claim to recover the hard drive, citing no "reasonable grounds" for bringing the claim and "no realistic prospect" of winning it.

Read the full article here.

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Photo courtesy: Shutterstock

This story was generated using Benzinga Neuro and edited by Rounak Jain