Major cryptocurrencies continued to surge on Thursday evening, propelled mainly by the strong demand from U.S. investors for the largest cryptocurrency BTC.CryptocurrencyGains +/-Price (Recorded 9:30 p.m. EST)Bitcoin BTC/USD +0.15%$52,073Ethereum ETH/USD +1.62%$2,842Dogecoin DOGE/USD +0.78%$0.086
What Happened: BTC has been trading at its highest premium in 9 months on the U.S.-based crypto exchange Coinbase.
The Coinbase Premium Index, which gauges the price variance for Bitcoin on Coinbase versus Binance surged to 0.12 on Thursday. This marks its peak reading since May 2023, as revealed by data from analytics firm CryptoQuant.
High premium values could indicate US investors strong buying pressure in Coinbase, CryptoQuant said.
The global cryptocurrency market cap now stands at $1.94 trillion, showing a 3.61% increase in the past 24 hours.
In Wednesdays trading session, stocks made a recovery as Wall Street regained some of the significant losses from the previous day. The S&P 500 showed an advancement of 0.96% to reach a closing figure of 5,000.62, while the Nasdaq Composite exhibited a strong climb of 1.3% to settle at 15,859.15. Additionally, the Dow Jones Industrial Average added 151.52 points, representing a 0.4% increase, and closed at 38,424.27.
See More: Best Cryptocurrency Scanners
Analyst Notes: Cryptocurrency analyst Michael Van de Poppe offered a tip for people feeling the rush to enter Bitcoin or the markets,
"Don't. Just don't listen to the emotions. It's a recipe for disaster. How should you enter? There will be 20-30% corrections. Always. No matter the narrative. Use those as an opportunity."
Pseudonymous crypto trader Rekt Capital said, "With BTC rallying this much to the upside, many will doubt whether BTC will ever perform a pullback. But when a pullback occurs, many will doubt whether BTC will ever perform another rally"Loading… Loading…
According to Gart van Lagen, historical patterns indicate that all previous blow-off waves of $BTC have sharply reached the blue trendline in a parabolic manner.
"Currently, the price is in blow-off wave 4-5. It bounced strongly off the 210,000 blocks SMA (blue dashed) and targets $200k at the blue trendline before the halving."
On-chain analyst Ali Martinez issued a warning for BTC.
"The TD Sequential presents a sell signal on Bitcoin daily chart, anticipating a one to four daily candlesticks correction. Note that the buy and sell signals this indicator has shows since December 2023 have all been validated."
The TD Sequential is a technical analysis indicator used to identify potential price exhaustion and reversal points.
Photo by CMP_NZ on Shutterstock
Read Next: Jim Cramer Advises Against Using Binance, Provokes Strong Reactions From Twitter UsersLoading… Loading…
Donald Trump has announced 100% tariffs on computer chips and semiconductors made outside the US.
The move threatens to increase the cost of electronics made outside the US, which covers everything from TVs and video game consoles to kitchen appliances and cars.
The announcement came as Apple chief executive Tim Cook said his company would invest an extra $100bn (£74.9bn) in US manufacturing.
Soon, all smartwatch and iPhone glass around the world will be made in Kentucky, according to Mr Cook, speaking from the Oval Office.
“This is a significant step toward the ultimate goal of ensuring that iPhones sold in the United States of America are also made in America,” said Mr Trump.
“Today’s announcement is one of the largest commitments in what has become among the greatest investment booms in our nation’s history.”
Mr Cook also presented the president with a one-of-a-kind trophy made by Apple in the US.
Image: Trump seen through the trophy given to him by Tim Cook. Pic: AP
Trump’s tariffs hit India hard
Mr Trump has previously criticised Mr Cook and Apple after the company attempted to avoid his tariffs by shifting iPhone production from China to India.
The president said he had a “little problem” with Apple and said he’d told Mr Cook: “I don’t want you building in India.”
India itself felt Mr Trump’s wrath on Wednesday, as he issued an executive order hitting the country with an additional 25% tariff for its continued purchasing of Russian oil.
Indian imports into the US will face a 50% tariff from 27 August as a result of the move, as the president seeks to increase the pressure on Russia to end the war in Ukraine.
Mr Trump told reporters at the White House he “could” also hit China with more tariffs.
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‘Good chance’ Trump will meet Putin soon
Apple’s ‘olive branch’
Apple, meanwhile, plans to hire 20,000 people in the US to support its extra manufacturing in the country, which will total $600bn (around £449bn) worth of investment over four years.
The “vast majority” of those jobs will be focused on a new end-to-end US silicon production line, research and development, software development, and artificial intelligence, according to the company.
Apple’s investment in the US caused the company’s stock price to hike by nearly 6% in Wednesday’s midday trading.
The rise may reflect relief by investors that Mr Cook “is extending an olive branch” to Mr Trump, said Nancy Tengler, chief executive of money manager Laffer Tengler Investments, which owns Apple stock.
Diane Gall’s husband, Martyn, had been out on a morning bike ride with his friends on their usual route one winter morning in November 2020 – when he was killed by a reckless driver.
Diane and her daughters had to wait almost three years for her husband’s case to be heard in court.
The case was postponed three times, often without warning.
“You just honestly lose faith in the system,” she says.
“You feel there’s a system there that should be there to help and protect victims, to be victims’ voices, but the constant delays really take their toll on individuals and us as a family.”
Image: Diane Gall’s husband, Martyn
The first trial date in April 2022 was cancelled on the day and pushed four months later.
The day before the new date, the family were told it wasn’t going ahead due to the barristers’ strike.
It was moved to November 2022, then postponed again, before eventually being heard in June the following year.
“You’re building yourself up for all these dates, preparing yourself for what you’re going to hear, reliving everything that has happened, and it’s retraumatising,” says Diane.
Image: Diane Gall and Sky correspondent Ashna Hurynag
‘Radical’ reform needed
Diane’s wait for justice gives us an insight into what thousands of victims and their families are battling every day in a court system cracking under the weight of a record-high backlog.
There are 76,957 cases waiting to be heard in Crown Courts across England and Wales, as of the end of March 2025.
To relieve pressure on the system, an independent review by Sir Brian Leveson last month made a number of recommendations – including creating a new division of the Crown Court known as an intermediate court, made up of a judge and two magistrates, and allowing defendants to choose to be tried by judge alone.
He said only “radical” reform would have an impact.
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Will court reforms tackle backlog?
But according to exclusive data collected for Sky News by the Law Society, there is strong scepticism among the industry about some proposed plans.
Before the review was published, we asked 545 criminal lawyers about the idea of a new tier to the Crown Court – 60% of them told us a type of Intermediate Court was unlikely to reduce the backlog.
“It’s moving a problem from one place to another, like moving the deck chairs on the Titanic. It’s not going to do anything,” says Stuart Nolan, chair of the Law Society’s criminal law committee.
“I think the problem with it is lack of resources or lack of will to give the proper resources.
“You can say we need more staff, but they’re not just any staff, they are people with experience and training, and that doesn’t come quickly or cheap.”
Instead, the lawyers told us creating an additional court would harm the quality of justice.
Chloe Jay, senior partner at Shentons Solicitors, agrees the quality of justice will be impacted by a new court division that could sit without a jury for some offences.
She says: “The beauty of the Crown Court is that you have two separate bodies, one deciding the facts and one deciding law.
Image: Casey Jenkins, president of London Criminal Court Solicitors’ Association
“So the jury doesn’t hear the legal arguments about what evidence should be excluded, whether something should be considered as part of the trial, and that’s what really gives you that really good, sound quality of justice, because you haven’t got one person making all the decisions together.
“Potentially in an intermediate court, that is what will happen. The same three people will hear those legal arguments and make the finding of guilt or innocence.”
The most striking finding from the survey is that 73% of criminal lawyers surveyed are worried about offences no longer sitting in front of a jury.
Casey Jenkins, president of London Criminal Court Solicitors’ Association, says this could create unconscious bias.
“There’s a real risk that people from minority backgrounds are negatively impacted by having a trial by a judge and not a jury of their peers who may have the same or similar social background to them,” she says.
“A jury trial is protection against professional judicial decisions by the state. It’s a fundamental right that can be invoked.”
Instead of moving some offences to a new Crown Court tier, our survey suggests criminal lawyers would be more in favour of moving cases to the magistrates instead.
Under the Leveson proposals, trials for offences such as dangerous driving, possessing an offensive weapon and theft could be moved out of the Crown Courts.
‘Catastrophic consequences’
Richard Atkinson, president of the Law Society, says fixing the system will only work with fair funding.
“It’s as important as the NHS, it’s as important as the education system,” he says. “If it crumbles, there will be catastrophic consequences.”
Ms Jenkins agrees that for too long the system has been allowed to fail.
“Everyone deserves justice, this is just not the answer,” she says.
“It’s just the wrong solution to a problem that was caused by chronic, long-term under-investment in the criminal justice system, which is a vital public service.
“The only way to ensure that there’s timely and fair justice for everybody is to invest in all parts of the system from the bottom up: local services, probation, restorative justice, more funding for lawyers so we can give early advice, more funding for the police so that cases are better prepared.”
Government vows ‘bold and ambitious reform’
In response to Sky News’ findings, the minister for courts and legal services, Sarah Sackman KC MP, told Sky News: “We inherited a record and rising court backlog, leaving many victims facing unacceptable delays to see justice done.
“We’ve already boosted funding in our courts system, but the only way out of this crisis is bold and ambitious reform. That is why we are carefully considering Sir Brian’s bold recommendations for long-term change.
“I won’t hesitate to do whatever needs to be done for the benefit of victims.”
The driver that killed Diane’s husband was eventually convicted. She wants those making decisions about the court system to remember those impacted the most in every case.
Every victim and every family.
“You do just feel like a cog in a big wheel that’s out of your control,” she says. “Because you know justice delayed is justice denied.”
A British man who allegedly tried to drown his daughter-in-law in a holiday swimming pool in Florida has been charged by police.
Mark Raymond Gibbon, 62, of Beaconsfield, Buckinghamshire, allegedly held the 33-year-old underwater repeatedly after they argued about his grandchildren.
He allegedly only stopped when a pair of sisters staying next door called the Polk County sheriff’s department.
The victim’s nine-year-old daughter also allegedly jumped into the pool to stop Gibbon from drowning her mother.
The family were staying at a rental home in the Solterra Resort of Davenport, Florida, when the incident occurred on Sunday, according to Sheriff Grady Judd.
Officers responded to reports of a disturbance in a pool at around 5.20pm local time.
“It’s great that Polk County draws visitors from all across the world, but we expect vacationers to behave while they visit with us, just as we expect our lifelong residents to do the same,” said the sheriff.
“Because Mr Gibbon couldn’t control his anger, he may find himself spending a lot more time in Florida than he had anticipated.”
Gibbon was arrested and taken to Polk County Jail, where he was charged with attempted second-degree murder and battery.