Bitcoin High Above $73K, Global Banks and Blockchain, ETH Reaches $4,000

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1. Bitcoin Price Hits New All-Time High Above $73,000 Before Retracing

Bitcoin price hits new all-time high above $73,000 before dipping Bitcoin's.

Price surged to $73,027 on Tuesday morning, surpassing its previous high of $72,702 on Monday. However, the price quickly dropped to $68,603 before rebounding to $71,102.Bitcoin's volatility continues as it experiences rapid price fluctuations, with the cycle of peaking, dipping, and correcting repeating over the past week.

The cryptocurrency is up 47% over the last 30 days, fueled in part by demand for spot Bitcoin ETFs that allow investors to gain exposure to Bitcoin without holding it.Bitcoin's latest price surge comes ahead of next month's halving event, which cuts the amount of BTC rewards for miners in half, potentially benefiting the price.Liquidations of crypto positions reached $356 million over the last 24 hours, with over $100 million coming from Bitcoin positions alone.

2. Global Banks Complete Successful Blockchain Pilot Test on Canton Network.

In a large-scale blockchain pilot test on the Canton Network, 155 participants from 45 major organizations settled real-world assets across 22 blockchains. Major financial institutions like Goldman Sachs, BNY Mellon, and Cboe Global Markets completed the pilot test. Institutional investors executed over 350 simulated transactions in areas such as tokenized assets, fund registry, digital cash, repo, securities lending, and margin management. Participants used 22 decentralized applications (dApps) on the Canton network to exchange tokenized securities, money market funds, and deposits across applications. The Canton Network, launched in May 2023 by Digital Asset Holdings, is designed for institutional investors to move regulated assets, data, and cash between each other in real time. Current participants include Deloitte, Deutsche Börse, Microsoft, Moody’s, and S&P Global. Tokenization has gained interest, with UBS tokenizing an options call warrant of Xiaomi’s stock and Lionel Messi partnering for a tokenized product..

3. ETH Reaches $4,000 but Faces Uncertainty: Will the Rally Continue?

Ethereum has surged 58% in the last 30 days, reaching $4,000 but failing to sustain this level, leading to speculation on its future. The rally is attributed to various factors, including optimism around the spot Ethereum ETF approval and the upcoming Dencun network upgrade. Critics point out that Ether is still below its 2021 peak, but its market cap is among the top 20 global tradable assets. The Ethereum network's growth and ecosystem activity play a crucial role in Ether's demand and price. Despite bullish sentiment among pro traders, excessive leverage in Ether futures poses a risk of a sell-off if Ether fails to break above $4,000.

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7. Biden proposes 30% energy tax for miners

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