Bitcoin price surges 24% as crypto retakes $1tn market cap - Yahoo Finance UK

The deadline to submit tax returns online and pay outstanding bills from HMRC is fast approaching
Bitcoin (BTC-USD) broke through the $21,000 mark in early Monday trading, a considerable price movement from a low of $16,000 at the beginning of the year.
The world's largest digital asset by market capitalisation surged almost 25% in a week to $21,069. Only one week ago bitcoin was still hovering around the $17,000 mark.
The price hike was echoed by other cryptocurrencies, with ethereum (ETH-USD) up 20% in a week to $1,564, hitting a two month high over the weekend.
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Solana (SOL-USD) made the biggest gains with a 62% rise in the week, to $23.31.
On Monday, the cryptocurrency market capitalisation stood at $1.02tn (£980bn), a rise of around 1.2% in 24 hours, according to data from Coingecko.
The capital inflow into the cryptocurrency sector comes amid renewed investor confidence that the US Federal Reserve is taming inflation without casting the economy into recession.
Successive rate hikes by the central bank led to fears that the drying up of liquidity would result in a stagnated economy and a retraction of economic output.
But there have been recent signs of a reversal, with consumer prices in the US rising by only 6.5% in December, compared to a year before.
The rate of inflation fell in the last six months of 2022, since reaching a peak of 9.1% in June.
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The crypto market is hoping for less hawkish monetary policy from the Fed in coming months, with the potential for a reduction in hikes and the end of the reduction in money supply.
However, despite the slowdown in price increases, inflation continues to hover near a 40-year high and the World Bank remains pessimistic about the consequences of successive monetary policy tightening around the world.
In a report released last week, the World Bank said: "Although this tightening has been necessary for price stability, it has contributed to a significant worsening of global financial conditions, which is exerting a substantial drag on activity."
The blue-chip index was up at the open as 'investors appear to have fallen back in love with UK assets'.
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Ukrainian club Shakhtar Donetsk, who completed the sale of Mykhailo Mudryk to Chelsea at the weekend, pledged on Monday to give a sizeable chunk of their fee to victims of the Russian invasion."This means that players like Mudryk should be invited to our club, to our Ukrainian championship, and we should win European trophies with such players, rather than root for them, even when they play in the world's top clubs.
Bigger than usual New Year bounce after extended year-end lull.
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Prince Harry has said he had enough material for two memoirs, but that he held back because he didn't think his father and brother would “ever forgive" him. In the book, the 38-year-old revealed how his grief at the death of his mother, Princess Diana, affected him, and saw Harry detail his resentment at being the “spare to the heir."
Taylor Swift, whose upcoming Eras tour crashed Ticketmaster, is now among the top 25 biggest music artists ever.
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The UK government saving incentives are not fit for purpose with the rich pocketing the lion’s share.
Sterling fell against the euro and the U.S. dollar on Monday, with traders awaiting UK jobs and inflation data due later this week for clues on Bank of England (BoE) monetary policy plans. Adding to pressure on sterling, hopes for further progress in talks between British and European Union negotiators on post-Brexit trade rules for Northern Ireland are fading. Sterling was down 0.3% against the dollar at $1.2200 at 1230 GMT after rising to its highest against the greenback since mid-December.
Sicilian godfather Matteo Messina Denaro, who was arrested on Monday after 30 years on the run, is a ruthless assassin whose violence fuelled the bloody reputation of the Cosa Nostra Mafia.- Protected – Messina Denaro had disappeared from public view in the summer of 1993, beginning what would be 30 years on the run from accusations including mafia association, murder, theft and possession of explosives.
World equities mainly rose Monday on growing global optimism as inflation slows and China reopens, while gas prices hit an 18-month low on receding supply fears.Gas prices in Europe hit a 16-month low on easing winter supply fears and unusually warm weather, having surged last year when key producer Russia invaded Ukraine.
European Union energy regulators were unable to launch a planned liquefied natural gas (LNG) price assessment by a Friday deadline because they did not receive enough data from market participants. The price assessment by the EU Agency for the Cooperation of Energy Regulators (ACER) is to be the first step in the EU's plan to launch a new European benchmark piece for LNG, which Europe is switching to, to replace Russian pipeline gas. Once established, market participants could use the new benchmark as the basis for LNG contracts, which have historically been pegged to the Dutch Title Transfer Facility (TTF) gas hub price that became highly volatile in the last year after Russia slashed pipeline gas deliveries to Europe.
LONDON (Reuters) -Britain and the European Union agreed on Monday to press on with talks in a "constructive" spirit to try to resolve a post-Brexit trade row over Northern Ireland, but London said that gaps remain between the two sides. After months of deadlock and hostility, the mood between the two sides has improved and progress has been made in talks to unlock a dispute over the Northern Ireland Protocol, the part of the Brexit deal that mandated checks on some goods moving to the province from the rest of the United Kingdom. British foreign minister James Cleverly and European Commission Vice-President Maros Sefcovic agreed during a video call on Monday, their second meeting in a week, that work should carry on.
France wants the European Union to adopt a "Made in Europe" industrial strategy in response to the U.S. scheme of subsidies for green investment, to keep industrial firms from leaving Europe and reduce members' dependence on outside suppliers. EU leaders are to discuss such industrial policy for the 27-nation bloc at a summit on Feb. 9-10 in Brussels, worried that Washington's $369 billion Inflation Reduction Act subsidising products from batteries to electric cars, solar panels and wind turbines, will draw companies away from the EU.

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