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  Bitcoin Sets New Record Near $112,000 Amid News, ETF Inflows

  Investing.com — Bitcoin soared to a new all-time high above $111,000 on Thursday, boosted by optimism about regulatory progress in the U.S., particularly the advancement of the GENIUS Act aimed at creating a national framework for stablecoin. The world's largest cryptocurrency jumped 3.8% to $111,588.0 as of 04:55. On Thursday, it peaked at $111,834.1, significantly surpassing the previous record above $109,000. Bitcoin has grown by more than 18% since the beginning of May. Bitcoin at Record Peak Thanks to Regulatory News The bill, officially named the Guiding and Establishing National Innovation for U.S. Stablecoins Act, moved forward in the U.S. Senate this week. Investors view this bill as a key step towards comprehensive regulation of cryptocurrencies, which can provide legal clarity and promote broader institutional participation in the digital asset space. The bill is expected to be put to a vote in the Senate later this week, after which it will be sent to President Donald Trump's office for approval. The Trump administration's creation of a Strategic Bitcoin Reserve in March, aimed at positioning the United States as a leader in digital assets, further fueled market enthusiasm. Bitcoin: Increased Adoption and Strong Inflows into ETFs While regulatory news dominated sentiment, analysts noted that stable inflows into bitcoin exchange-traded funds traded in the United States continued to support demand. The optimistic outlook comes amid broader signs of growing adoption. Financial giants including Fidelity and BlackRock (NYSE:BLK) have recently expanded their offerings in the field of cryptocurrencies. Third–party advertising is not an offer or recommendation. Investing.com See the details here or remove the ads. This week, the CEO of JPMorgan (NYSE:JPM) Jamie Dimon, a well-known critic of cryptocurrencies, said that the bank will now allow customers to buy bitcoin, which signals a major change in Wall Street's position on digital assets. Earlier in May, the cryptocurrency exchange Coinbase Global Inc (NASDAQ:COIN) reached an important milestone by entering the S&P 500 index and becoming the first digital asset company to be included in this benchmark index. "More and more investors, including large funds, now view bitcoin as a long—term asset rather than just a speculative game," said Steven Wundke, director of strategy and revenue at quantitative digital asset investment firm Algoz, in an interview. Investing.com the day before. Cryptocurrency Prices Today: Altcoins Rise Following Bitcoin Rally Most altcoins also continued to rise on Thursday, following bitcoin. The world's second largest cryptocurrency, Ethereum, rose 1.3% to $2,627.06. The world's third largest cryptocurrency, XRP, was virtually unchanged, trading at $2,4109. Solana rose 3.6%, while Cardano jumped 4.5% and Polygon rose 6%. Among the meme tokens, Dogecoin was trading 4% higher, while $TRUMP was up 7%. This article was translated using artificial intelligence. For more information, please read our Terms of Use.

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  Oil fell due to the growth of stocks in the United States to a near one-year high

  Investing.com — Oil prices declined after a second consecutive weekly increase in U.S. crude oil inventories outweighed CNN reports that Israel was preparing for a possible strike on Iranian nuclear facilities. Bloomberg writes about this. July WTI futures fell below $62 per barrel after a report from the United States showed that crude oil inventories in the country reached their highest level since July, and gasoline demand fell. The unsuccessful placement of treasury bonds also put pressure on broader markets, exacerbating the drop in oil contracts. Brent futures fell below $65. Oil prices have been trading erratically since last week amid conflicting reports about the fate of the nuclear talks between Iran and the United States, which could pave the way for more oil to return to the market. An Israeli attack would complicate any progress in these negotiations and raise tensions in the Middle East, which supplies about a third of the world's oil. According to CNN, citing U.S. intelligence and unnamed U.S. officials, it is unclear whether a final decision has been made on any attack. "Either the impact on the oil market in the event of an attack is considered low, or the probability of an attack is assessed as low," said Bjarne Schildrop, chief commodities analyst at SEB AB. Geopolitical concerns have so far pushed aside expectations of a weakening of the balance sheet in the second half of the year, as OPEC and its allies bring new barrels back to the market. However, according to Bloomberg Intelligence, WTI could fall to $40 per barrel if sanctions against oil exports by the Islamic Republic are lifted.

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  The ruble-dollar exchange rate is trading near its highest since June 2023 — Reuters

  Investing.com — On Wednesday, the Russian ruble briefly broke the 80 mark for the US dollar, after which it rebounded, but remained near its highest level since June 2023, writes Reuters. According to LSEG data based on over-the-counter quotes, by the time of writing, the ruble exchange rate had increased by 0.51% to 80.21 per US dollar. Since the beginning of the year, the Russian currency has strengthened by more than 40% against the dollar. The ruble does not seem to have suffered significant consequences from the new sanctions against Russia announced by the EU and the UK on May 20. The restrictions were aimed at Russia's "shadow fleet" of oil tankers and financial companies. Analysts note that the strengthening of the ruble this year is due to the easing of geopolitical tensions and the tight monetary policy of the central bank, which has reduced demand for foreign currency. "The strengthening of the ruble is largely due to the continued rigidity of monetary policy, which stimulates interest in ruble assets against the background of a positive geopolitical track," said Denis Popov from PSB Bank. Against the Chinese yuan, which is the most traded foreign currency in Russia, the ruble also rose, adding 0.7% to 11.09 per yuan on the Moscow Stock Exchange.

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  A glitch in the Bloomberg terminal disrupted government bond trading in Europe

  Frankmedia - On Wednesday, a malfunction at the Bloomberg trading terminal in Europe caused serious disruptions to many government bond auctions and the daily activities of market participants. This is reported by the Reuters news agency, citing representatives of a number of European government debt management agencies, as well as sources in the financial markets. Traders and other market participants reported that the display of real-time market data and current quotes was unavailable, and the terminal screens were not working. "It's impossible to upload anything new, update spreadsheets, and some auctions have been postponed," said Peter Schaffrik, chief European macro strategist at RBC Bank. Towards the middle of the day, some bidders began to talk about the gradual restoration of the terminals. Technical problems with the system have led to delays and postponements of a number of financial transactions. In particular, the UK Debt Management Authority (DMO) announced a delay in bidding at the auction of British government bonds. "Due to ongoing problems with the Bloomberg system, the trading window for the morning bond auction with a yield of 4% until 2031 has been extended," the DMO said. Similarly, the promissory note auction in Portugal was also postponed due to a glitch. Sweden postponed a planned bond auction, citing "technical issues." Portugal followed suit by canceling the promissory note auction. The Swedish debt agency's website states that "auction bids are submitted ... electronically through an auction system." The European Union was also forced to postpone the deadline for the sale of its bonds by one hour, the agency said. Another user said that the situation was "a real nightmare" because he only had a chat.

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  Russian oil supplies to India continue to grow — Bloomberg

  Investing.com — Russian oil imports to India in May may reach their highest level in 10 months, while oil purchases through eastern ports are increasing as supply chains recover from massive US sanctions. Bloomberg writes about this. According to Kpler, the South Asian country has purchased 1.98 million barrels per day from the OPEC+ producer since the beginning of the month, and the lion's share of volumes is accounted for by the Urals brand. Imports continue to rise after falling to a 14-month low in February, when U.S. sanctions disrupted Russian oil trade. Since then, more non-sanctioned tankers have joined the trade, and Indian refiners are working with merchants, carriers, and other intermediaries to ensure the continued supply of cheaper Russian oil. In April, India imported Sokol varieties from eastern Russia for the first time since October, according to Kpler. The volume of oil from the eastern ports, including ESPO, averaged 225,000 barrels per day in May. This is about 60% higher than in April, if the trend continues until the end of the month, Kpler data show. There are currently 10 ESPO shipments scheduled to be loaded in June for India, which will be close to an all-time high.

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  Gold prices hit two-week high due to US debt problems

  Investing.com — Gold prices rose in Asian trading on Thursday, continuing their recent gains as demand for safe assets was supported by ongoing concerns about high U.S. debt levels and the passage of a tax cut bill. The precious metal has been supported by recent reports of Israeli plans to attack Iran, although the announcement of new nuclear talks between Tehran and Washington has helped reduce fears of an immediate attack. However, gold has maintained most of its gains since the beginning of the week, as reports suggest Israel is ready to attack Iran if negotiations with the United States break down. The spot price of gold rose 0.7% to $3,338.04 per ounce, while gold futures for June delivery rose 0.8% to $3,339.20 per ounce by 09:27 Moscow time. Gold is supported by concerns about US debt Gold was mostly supported this week by heightened concerns about stretched U.S. debt levels, especially after Moody's (NYSE:MCO) cited the issue as a key motivator for the recent downgrade of the U.S. credit rating. Traders have been shedding U.S. Treasuries and the dollar in favor of gold and other safe assets, with Treasury yields rising sharply this week. The U.S. Treasury saw weak demand for the sale of $16 billion worth of 20-year bonds on Wednesday. Attention was focused on the vote in the House of Representatives on a large-scale bill on tax cuts and spending, which could take place this week after the Republican-controlled House committee approved the bill for a vote. Analysts say that the proposed tax cuts and increased spending on the border and defense could further increase the U.S. debt burden, increasing fiscal risks for the country. This comes amid continued uncertainty about the economic impact of President Donald Trump's trade policies, which has been a key driver of gold's gains this year. Third–party advertising is not an offer or recommendation. Investing.com See the details here or remove the ads. Other precious metals rose as the dollar weakened. Platinum futures rose 0.4% to $1,082.20 per ounce, while silver futures rose 0.7% to $33,873 per ounce. Copper rises amid Chinese stimulus Among industrial metals, copper prices rose on Thursday, benefiting from a weaker dollar and as traders continued to welcome signs of additional stimulus in the largest importer, China. Benchmark copper futures on the London Metal Exchange rose 0.2% to $9,545.50 per tonne, while U.S. copper futures rose 1.3% to $4,7175 per pound. Copper showed strong gains this week after China lowered its benchmark lending rate to further ease monetary policy and support the economy. This week's rate cut has increased optimism that China will release more measures to support growth, which in turn could bolster the country's appetite for copper. The trade dialogue between China and the United States also remained in the spotlight amid some signs of tension following last week's truce. This article was translated using artificial intelligence. For more information, please read our Terms of Use.

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