Bitcoin and Ether bears get decimated amid 'squeeze-led' rally and Musk's X wants to pay creators in stablecoins: Crypto week in 5 stories
Bitcoin and crypto staged their strongest rally in months as Treasury intervention, regulatory moves and a historic short squeeze collided, while banks and technology companies pushed deeper into stablecoins.
Bitcoin went ballistic this week (finally).
While more than $4 billion in short positions were liquidated, the bigger story is the pain the rally brought for the ether bears.
Ethereum's token saw the sharpest rally among the major cryptocurrencies. At one point on Wednesday, when the market started moving sharply, ETH rose nearly 19% over 24 hours, versus roughly 5%-6% for bitcoin. Currently, ETH is up about 18% in the last seven days, while bitcoin has risen about 8.8%, according to CoinDesk data.

Bitcoin and crypto staged their strongest rally in months as Treasury intervention, regulatory moves and a historic short squeeze collided, while banks and technology companies pushed deeper into stablecoins.
Bitcoin went ballistic this week (finally).
While more than $4 billion in short positions were liquidated, the bigger story is the pain the rally brought for the ether bears.
Ethereum's token saw the sharpest rally among the major cryptocurrencies. At one point on Wednesday, when the market started moving sharply, ETH rose nearly 19% over 24 hours, versus roughly 5%-6% for bitcoin. Currently, ETH is up about 18% in the last seven days, while bitcoin has risen about 8.8%, according to CoinDesk data.

