Bitcoin nears $90K, stages best weekly return since US banking crisis

Signature Bank was likewise required to close operations by New York regulators on March 12, 2 days after Silvergates liquidation.This turmoil was a driver for Bitcoins bull run last year, according to BitMEX co-founder and previous CEO Arthur Hayes.Related: 63 United States banks on the edge of insolvency: Why Bitcoins next target is $100KBitcoin cost on track to $1 million due to Trumps quantitative easing– HayesBitcoin has been on a tear given that Donald Trump won the 2024 United States presidential election, motivating more risk-on hunger as investors expect more service and innovation-friendly guidelines in the worlds largest economy.Notably, Trumps economic policy could push Bitcoins price past the $1 million mark, according to Hayes, who wrote in a Nov. 12 blog site post:” It took $4 trillion to reduce the debt-to-nominal GDP ratio from 132% to 115%.” Related: Trumps presidency could bring SEC reform and pro-crypto regulationsQuantitative reducing refers to monetary policy where a central bank purchases a predetermined amount of federal government bonds to stimulate financial activity through liquidity injections.Liquidity injections from central banks typically enhance Bitcoins rate by motivating investors to seek higher returns in alternative assets.Who is much better for the crypto industry – Trump or Kamala? Source: YouTubeMagazine: BTCs inbound $110K call, BlackRocks $1.1 B inflow day, and more: Hodlers Digest Nov. 3– 9.