Bitcoin reaches over $102,000
On Thursday, Bitcoin $BTC (-0,34%) surpassed the impressive $102,000 mark on Thursday, reaching its highest level since the end of January. This remarkable rally is the result of positive market sentiment, which was further boosted by the announcement of a trade deal between President Trump and the UK. The prospect of a de-escalation of tariffs has sparked optimism among investors, catapulting the world's largest cryptocurrency higher. Coinbase also announced $COIN (+0,55%) reported the acquisition of options platform Deribit for a whopping $2.9 billion, adding to the positive sentiment in the crypto sector. At around 4:45 pm ET, Bitcoin reached a price of over $102,147, an increase of up to 5%. However, in the days following Trump's announcement about "proportionate" tariffs, Bitcoin fell to as low as $75,000. The general sentiment in the Bitcoin sector has improved noticeably with the recovery of the stock market. Analysts report that more and more companies are adding Bitcoin to their balance sheets, which further strengthens confidence in the cryptocurrency.
Coinbase acquires Deribit for $2.9 billion
The Coinbase share $COIN (+0,55%) is showing an impressive rise after announcing the acquisition of Deribit, the largest Bitcoin and Ether options platform, for $2.9 billion. This acquisition is seen as a strategic move to further drive Coinbase's global expansion. Deribit is known for its extensive trading capabilities in the cryptocurrency derivatives space and will help Coinbase solidify its market position in this fast-growing segment. Madison Mills, host of the Morning Brief, explained that this deal not only expands Coinbase's product range, but also significantly increases its competitiveness in the international market. This development has further fueled interest in Coinbase and the crypto market as a whole and could have a lasting impact on the dynamics of the industry.
Sources:
https://finance.yahoo.com/video/coinbase-enters-derivatives-market-deribit-143131926.html