Crypto markets rebounded on Thursday, with Bitcoin surging to $70.4k after dipping below $69k earlier in the week. The recovery was fueled by a sharp decline in oil prices and comments from Israeli Prime Minister Benjamin Netanyahu suggesting the conflict may end sooner than anticipated.
Crypto.com announced a 12% staff cut, framing the move as part of an AI-driven operational shift. This adds to recent job cuts in the crypto industry, including reductions at the Algorand Foundation and Messari.
JPMorgan highlighted Hyperliquid’s growing appeal among non-crypto investors, particularly for 24/7 oil trading exposure through perpetual futures. The SEC approved Nasdaq’s rule change, allowing tokenized securities to trade on the exchange.
Prediction markets had a blockbuster day. Major League Baseball named Polymarket as its exclusive prediction market partner, and Kalshi is raising at a $22 billion valuation. Myriad, another prediction market, closed a significant seed round backed by prominent investors.
Key Movers:
- Bitcoin: +1% at $70.4k
- Ethereum: -1% at $2,140
- Solana: Flat at $89.2
- TAO: +14%
- DOGE: Even
- SHIB: +4%
- PEPE: Even
- TRUMP: -1%
- PENGU: +2%
- SPX: +1%