It was a terrible week for the stock market, with the S&P 500 falling more than 6% in the last five days. That did not help Bitcoin, but the original cryptocurrency was better than the broader market, increasing more than 1% in the same period.
The Nasdaq had one of its largest falls in 25 years on Thursday, but Bitcoin remained relatively stable (James Van Straten de Coindesk reported) even if now it is not close to the maximum of more than 100,000 we saw at the beginning of the year.
The big question for Bitcoin in the midst of the uncertainty market is whether it is considered a risk asset that is sold in a storm or a safe refuge similar to gold (which until the last 24 hours was at least working well in relation to the market). The impact of tariffs on cryptography is very discussed by researchers.
Meanwhile, the digital asset industry prepared for better days ahead. Circle, the sender of the second largest stable, USDC, officially requested an opi. An important Committee from the US House of Representatives. UU. Advanced its Stablecoin bill, with an important Democratic support.
Fidelity Investments, an important brokerage firm, announced plans to offer an anger that allows investors direct access to cryptography in their retirement accounts. Helene Braun had the news. The advisors are increasingly willing to promote encryption products to their customers, show show. In other news, Bitcoin corporate buyers, such as the strategy, Metaplenet, Mara and Tether, continued to accumulate Bitcoin, taking advantage of today’s prices.
Ethereum developers locked on May 7 for their next update (called Pectra), said Margaux Nijkerk. Ripple reported a great demand for his new Stablecoin Rlusd, said Kris Sandor.
Then, in the regulatory news, Paul Atkins approached the confirmation of the SEC’s chair and the DC crypto defender for a long time, he resigned from directing the Blockchain association to work for a new group centered in Solana.
Much of the news followed a pattern that we have seen in recent weeks: the sunk markets and the quiet growth of the industry helped by a regulatory thaw.
Given the tumultuous macroeconomic environment, it will be fascinating to see how cryptography continues to work.
