Hot Crypto Updates For This Week

The crypto realm ends another week with a plethora of events witnessed across the broader industry. Bitcoin’s (BTC) price dipped to a $49K low in the past seven days, primarily attributable to the Japanese market crash. Moreover, the U.S. presidential elections have taken a new turn recently, favoring Democratic Kamala Harris. Meanwhile, Ripple has marked a pivotal moment, concluding its lawsuit with the SEC this week.

Here’s a collection of the top crypto updates reported in the past seven days that have echoed a bustle among market participants.

Bitcoin (BTC) Recovers After Crypto Crash

As mentioned above, the BTC price saw a trading session as low as the $49K level in the past seven days. This waning movement comes against the backdrop of over $400 billion worth of liquidations in the crypto market, aligning with Japan’s Nikkei crashing nearly 13% crash earlier this week.

Nonetheless, the flagship coin reclaimed the $60K level as the week longed, underscoring a strong recovery. In the interim, Japan’s Metaplanet announced a $68 million stock rights offering to fund Bitcoin acquisition.

Besides, this week also saw the renowned analyst Peter Brandt predicting a potential BTC price dip to $40K ahead. This statement has in turn sparked speculations of another market crash looming over the horizon as U.S. recession fears mount up. Leading analysts nationwide anticipate the U.S. to be entering into a recession, primarily due to poor job data and unchanged interest rates, among many other factors.

However, it’s also worth mentioning that Bitcoin saw strong buying pressure in the U.S. despite fears of recession.

Trump vs Harris

Meanwhile, another buzz across the nation gained significant traction, Republican Donald Trump vs Democratic Kamala Harris saga. Intriguingly, the Democratic Party member’s winning odds have outweighed Trump’s, as spotlighted by recent poll results and Polymarket data.

Despite severe concerns nationwide over Harris’ anti-crypto stance, the recent results favoring her have garnered global attention.

Additionally, amid the ongoing presidential campaign, the American entrepreneur Elon Musk has taken the stage to spotlight OpenAI & Googe’s bias on Trump vs. Harris. However, it’s also worth mentioning that Musk’s AI Grok itself encountered a significant setback over spreading misinformation amid the ongoing U.S. elections.

Also Read: Iran Allegedly Hacked Donald Trump US Election Campaign

Huge Win For Ripple

Lastly, one of the most important developments this week was the final judgment in motion for remedies for the Ripple vs SEC lawsuit. Notably, Judge Analisa Torres’ final ruling has served success on a platter to the American blockchain payments firm, negating SEC’s proposed $2 billion fine and rather imposing a $125 million penalty. Moreover, the Judge also ordered no disgorgements against Ripple in its latest ruling.

However, it’s worth mentioning that the court has also given a 60-day deadline to the parties for filing an appeal against the ruling.

Meanwhile, amid the legal clarity for Ripple’s crypto, pro-XRP attorney Fred Rispoli took to X, urging Elon Musk to integrate XRP into X Payments this week. Furthermore, the odds of an XRP ETF have spiked considerably following the lawsuit’s conclusion.