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Bitcoin Peeps Above $38K on Basel News
The top cryptocurrency hit a high of $38,461 during the European hours, extending Wednesday's double-digit rally.
Updated Sep 14, 2021, 1:09 p.m. Published Jun 10, 2021, 11:19 a.m.
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Bitcoin hit highs above $38,000 on Thursday after the Basel Committee's proposal gave banks a green light to hold the leading cryptocurrency and other digital assets.
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- The top cryptocurrency hit a high of $38,461 during the European hours, extending Wednesday's double-digit rally to above $37,500, according to CoinDesk 20 data.
- The Basel Committee on Banking Supervision, which sets international banking standards, recommended stricter capital requirements for holding bitcoin than stocks and bonds.
- The committee proposed a risk weight of 1,250% for bitcoin, ether and all other cryptocurrencies, excluding stablecoins that are fully backed by reserves.
- It means a bank would be required to hold capital equivalent to the face value of the bitcoin exposure.
- "A $100 exposure would give rise to risk-weighted assets of $1250, which when multiplied by the minimum capital requirement of 8% results in a minimum capital requirement of $100 (ie the same value of the original exposure, as 12.5 is reciprocal of 0.08)," the proposal said.
- While Basel has categorized bitcoin as a high-risk asset, bitcoin's reaction suggests the market was likely expecting worse.
- As cryptocurrencies begin to make their way into the traditional financial ecosystem, it is only normal to expect various regulatory bodies to begin to set and then also try to coordinate regulatory initiatives to protect savers and investors," Denis Vinokourov, head of research at Synergia Capital, said.
- "Risk is over-regulation, but equally lack of regulation will also prevent further adoption en masse. Basel's proposal to split assets into groups makes logical sense given the different volatility and risk parameters," Vinokourov added.
- The recommendation comes as regulators across the globe are stepping up plans to regulate the still-nascent market.
- On Wednesday, China stepped up its crackdown on bitcoin, asking miners based in Qinghai province to shut down operations.
Read more: Basel Committee Proposes Banks Set Aside Capital to Cover Bitcoin Exposure
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KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
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- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
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Gold tops $5,000 as bitcoin stalls near $87,000 in widening macro-crypto split: Asia Morning Briefing
Bitcoin’s onchain data points to supply overhang and weak participation, while gold’s breakout is priced by markets as a durable macro regime shift.
需要了解的:
- Gold’s surge above $5,000 an ounce is increasingly seen as a durable regime shift, with investors treating the metal as a persistent hedge against geopolitical risk, central bank demand and a weaker dollar.
- Bitcoin is stuck near $87,000 in a low-conviction market, as on-chain data show older holders selling into rallies, newer buyers absorbing losses and a heavy supply overhang capping moves toward $100,000.
- Derivatives and prediction markets point to continued consolidation in bitcoin and sustained strength in gold, with thin futures volumes, subdued leverage and weak demand for higher-beta crypto assets like ether reinforcing the cautious tone.
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