Traders say Bitcoin will benefit from the proposed $5 trillion increase to the US debt ceiling, but data could suggest otherwise. Key takeaways: Historical data fail to show a consistent link between Bitcoin price gains and US debt ceiling increases. Bitcoin’s resilience reflects investors’ belief that the US dollar will continue to lose value due to US domestic fiscal policy. Read more
SOL rallied after the launch of the REX Shares Solana ETF, but bulls need to hold the price above $160. Key point: The launch of the REX Shares staked Solana ETF had a positive impact on SOL price, but trading above $159 would mark the start of a trend change. REX Shares launched the first US staked-cryptocurrency exchange-traded fund on Wednesday, giving investors direct exposure to Solana (SOL) and an opportunity to earn yield through staking. Read more