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…
The White House is considering inviting Volodymyr Zelenskyy to a meeting between Donald Trump and Vladimir Putin in Alaska, according to reports in the US.
A senior US official and three people briefed on internal discussions have told Sky News’ US partner network NBC News that the Trump administration is now considering inviting the Ukrainian president to the summit.
“It’s being discussed,” one of the people briefed on the talks was quoted as saying.
The sources said a visit by Mr Zelenskyy has not been finalised – and it is unclear whether the Ukrainian leader will be in Alaska for the summit.
However, the senior administration official said it is “absolutely” possible.
“Everyone is very hopeful that would happen,” the official said.
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Asked whether the US had officially invited Mr Zelenskyy to Alaska, a senior White House official said: “The President remains open to a trilateral summit with both leaders. Right now, the White House is focusing on planning the bilateral meeting requested by President Putin.”
Mr Trump told reporters at the White House on Friday before the Alaska summit was confirmed that “we’re getting very close to a deal” that would end the war.
The US president added there will be “some swapping of territories to the betterment of both sides”.
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1:31
US diplomacy ‘totally amateur’
Zelenskyy suggests he’s unwilling to give up territory
However, the Ukrainian president warned on Saturday that allowing Russia to keep territory it has occupied in Ukraine will result in another invasion.
He said allowing Mr Putin to annex Crimea in 2014 didn’t prevent Russia forces from occupying more parts of Ukraine during the current conflict.
Mr Zelenskyy added: “Now, Putin wants to be forgiven for seizing the south of our Kherson region, Zaporizhzhia, the entire territory of Luhansk and Donetsk regions, and Crimea. We will not allow this second attempt to partition Ukraine.
“Knowing Russia – where there is a second, there will be a third.”
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2:28
Zelenskyy: Ukraine will not give land to ‘occupier’
NATO allies say Ukraine must be involved in negotiations
The reports Mr Zelenksyy could be invited to Alaska come as Ukraine and several NATO allies have reportedly been privately concerned Mr Trump might agree to Mr Putin’s proposals for ending the war without taking their positions into account.
In a joint statement on Saturday night, UK Prime Minister Sir Keir Starmer and the leaders of France, Italy, Germany, Poland, Finland and the European Commission said Ukraine’s future cannot be decided without Kyiv.
They said: “Ukraine has the freedom of choice over its own destiny. Meaningful negotiations can only take place in the context of a ceasefire or reduction of hostilities.
“The path to peace in Ukraine cannot be decided without Ukraine.
“We remain committed to the principle that international borders must not be changed by force.
“The current line of contact should be the starting point of negotiations.”
Image: From left: Volodymr Zelenskyy, Donald Trump and Vladimir Putin. Pics: AP
UK hosts Ukrainian officials ahead of summit
British Foreign Secretary David Lammy had earlier hosted a meeting of top Ukrainian officials and European national security advisers alongside US vice-president JD Vance on Saturday ahead of the Trump-Putin meeting.
The meeting took place at the foreign secretary’s official country retreat, Chevening, in Kent, where Mr Vance is staying at the start of a UK holiday.
After the meeting, Mr Lammy said: “The UK’s support for Ukraine remains ironclad as we continue working towards a just and lasting peace.”
Image: From left: Rustem Umerov, David Lammy, JD Vance and Andriy Yermak. Pic: X/David Lammy
It is understood that the meeting had been called at Washington’s request, and included representatives from the US, Ukraine, France, Germany, Italy, Finland and Poland as well as the UK.
Ukraine was represented by Rustem Umerov, secretary of the country’s national security and defence council, and the head of Mr Zelensky’s office, Andriy Yermak.
In a post on social media, Mr Yermak said the allies’ positions were “clear” that “a reliable, lasting peace is only possible with Ukraine at the negotiating table, with full respect for our sovereignty and without recognising the occupation”.
Ahead of the meeting at Chevening, Sir Keir discussed the talks in a call with Mr Zelenskyy on Saturday and also spoke to French President Emmanuel Macron.
A Downing Street spokeswoman said Sir Keir and Mr Macron “discussed the latest developments in Ukraine, reiterating their unwavering support for President Zelenskyy and to securing a just and lasting peace for the Ukrainian people”.
It featured four advanced electric motors with a combined power of nearly 1,300 horsepower. The U9 can accelerate from 0 to 62 mph (0 to 100 km/h) in just 2.36 seconds.
With a motor at each wheel and a highly advanced electric-air suspension, the U9 can turn on itself and even jump over potholes.
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But that was only the beginning.
Based on a new filing with the Ministry of Industry and Information Technology (MIIT), BYD is preparing to launch a new ‘Track Edition’ of the Yangwang U9:
When an automaker releases a “track” version of a car, it typically primarily features body changes for better aerodynamic performance, adding downforce, and it will also often feature bigger brakes.
The Yangwang U9 ‘Track Edition’ appears to feature all that… and much more.
The filing reveals that BYD updated the motors at each wheel to a new 555 kW motor. That’s a higher-performing motor than in most performance electric vehicles. The U9 Track Edition has four of them for a total of 2,220 kW (3,019 hp).
I would have thought that this was a typo if it wasn’t for the insane electric vehicles coming out of China these days.
Here are a few pictures from the MIIT filing:
There are a lot of performance specs that are not included in the MIIT filing. Therefore, it will be interesting to see when the vehicle is fully unveiled and BYD reveals what kind of performance it can achieve with 3,000 hp packed in 4 electric motors.
Here are a few other features mentioned in the filing:
Standard features:
20-inch wheels with 325/35 R20 tyres
Carbon-fibre roof
Large fixed carbon-fibre rear wing
Rear diffuser with adjustable blades for aerodynamic optimisation
Optional aerodynamic parts:
Standard or enhanced carbon-fibre front splitter
Electric rear wing
Electrek’s Take
How are they going to keep that thing from flying away? Seriously.
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