Bitcoin Breaks Records, Ethereum Steals the Spotlight, and a Squirrel Token is Taking Over Crypto!

Bitcoin Breaks Records, Ethereum Steals the Spotlight, and a Squirrel Token is Taking Over Crypto! What’s Happening in Crypto Today?

Here’s What You Need to Know!

Bitcoin’s market performance over the past 24 hours has been nothing short of a rollercoaster. The crypto king is bouncing between $100,500 and $101,800 after a surprising drop in inflation numbers, as traders hope for interest rate cuts in the coming weeks. While Bitcoin has been trying to break past resistance levels, Ethereum is quietly catching the eyes of institutional investors, with BlackRock and Fidelity scooping up over $500M worth of ETH in just 48 hours.

But wait — just when you thought things couldn’t get crazier, enter Peanut the Squirrel Token (PNUT). Yes, you read that right! This quirky token has soared to a $1.34B market cap, after going from Solana to Coinbase’s listing roadmap in just a few days. The journey of PNUT is almost as wild as the story behind it, with some even calling it crypto’s new meme-coin sensation.

Here’s your breakdown of the latest developments:

Bitcoin’s Rollercoaster Ride

Bitcoin’s price action has had traders on edge today. After the inflation numbers dropped, Bitcoin made an impressive move to $100,500, pushing through the six-figure barrier briefly before bouncing up and down within a narrow range between $100,500 and $101,800. The latest Consumer Price Index showed inflation numbers came in as expected — good news for Bitcoin holders anticipating a rise in asset values due to potential rate cuts.

Squirrel-Themed Meme Coin (PNUT) on the Rise

In a surprise twist, the Peanut the Squirrel Token (PNUT) has become a crypto sensation. It has made the leap from Solana’s Pump.fun platform to Coinbase’s listing roadmap, seeing its market cap surge to an incredible $1.34 billion. The coin started off small, inspired by a viral event involving a rabies scare from a New York squirrel, but now it’s catching big exchanges’ attention and skyrocketing in value. The PNUT craze is proof that in crypto, anything can happen — and that meme coins are here to stay. Who’s next to list it? Stay tuned.

Institutional Powerhouses Buying Up Ethereum

While Bitcoin has been hogging the headlines, Ethereum is quietly making waves. The biggest names on Wall Street, including BlackRock and Fidelity, are loading up on ETH through their respective ETFs. In the past 48 hours, these firms have purchased more than $500 million worth of Ethereum. Why the rush? Some analysts believe that ETH is becoming more attractive as a store of value, and institutional interest could drive its price further up.

The SEC’s New Move: Bitcoin and Ethereum Combo ETF?

In regulatory news, the SEC is considering a groundbreaking proposal to create a Bitcoin-Ethereum combo ETF. This could be a game-changer for how investors approach crypto as a whole. If approved, this new ETF could allow investors to buy both Bitcoin and Ethereum in a single, easily accessible product. Meanwhile, Trump’s upcoming administration promises more crypto-friendly policies, signaling potential for a fresh regulatory approach.

MicroStrategy’s Bitcoin Yield Strategy

Finally, CoinShares has predicted that 2025 will be the year of Bitcoin yield strategies, with companies like MicroStrategy already paving the way. MicroStrategy has been successfully utilizing Bitcoin yield, posting a 26.4% return on their holdings from January to November 2024. As more companies figure out how to make their crypto holdings work for them, this could be the start of a whole new way to profit from Bitcoin — without ever selling it.

It’s clear that while Bitcoin’s price action dominates the market, other exciting developments are happening simultaneously. From PNUT’s meteoric rise to institutional investors gobbling up ETH, the world of crypto is constantly evolving. With the SEC eyeing new products like the Bitcoin-Ethereum combo ETF, 2025 could be the year that changes everything for crypto markets.

So, whether you’re riding the waves of Bitcoin’s daily fluctuations or watching meme coins and Ethereum make their moves, there’s no shortage of action in the crypto world today.

Stay tuned and buckle up — this ride is far from over.

Bitcoin Breaks Records, Ethereum Steals the Spotlight, and a Squirrel Token is Taking Over Crypto! was originally published in The Capital on Medium, where people are continuing the conversation by highlighting and responding to this story.