Bitcoin Soars to an All-Time High. What’s Next.
Bitcoin, at last check, was at $66,673, according to CoinDesk.
Bitcoin, at last check, was at $66,673, according to CoinDesk.
Bitcoin shot up to near $67,000 on Wednesday, passing its previous all-time high of US$64,888.99 reached in mid-April as the crypto community celebrated the launch of the first U.S. Bitcoin exchange-traded fund. The surge of exuberance follows a familiar pattern—traders bid up the price of Bitcoin on news of a groundbreaking event.
“This is the beginning of the normalization of digital currency,” said Anthony Denier, the CEO of stock and crypto trading platform Webull. “There’s a lot of excitement in the space, and deservedly so.”
Bitcoin, at last check, was at US$66,673, according to CoinDesk.
The move comes after the latest sign of legitimacy for cryptocurrencies. After eight years of rejecting proposed Bitcoin ETFs, the Securities and Exchange Commission allowed the ProShares Bitcoin Strategy ETF (BITO) to start trading on Tuesday. It attracted the second-most volume on its first day of any ETF. The ETF holds Bitcoin futures, which critics say make it an imperfect proxy for Bitcoin. But it may attract traditional advisors and investors who want to buy Bitcoin for their investment accounts without having to go to an outside provider.
Rallies like this, however, have sometimes led to heartbreak. After similar moves leading up to the launch of Bitcoin futures in 2017, and the market debut of Coinbase Global (ticker: COIN) stock this April, Bitcoin fell by more than 20% in a matter of days. Webull’s Denier said that the latest move is starting to feel like those moments.
“It’s been a very aggressive rally,” he said. For people trading Bitcoin “it’s feeling a little tough” to keep holding it at these levels. “If you’re a long-term believer, you’re looking to sell it at six figures.”
Early indications from several big regional real-estate boards suggest March was overall another down month.
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For self-employed Australians, navigating the mortgage market can be complex—especially when income documentation doesn’t fit the standard mould. In this guide, Stephen Andrianakos, Director of Red Door Financial Group, outlines eight flexible loan structures designed to support business owners, freelancers, and entrepreneurs.
1. Full-Doc Loan
A full-doc loan is the most straightforward and competitive option for self-employed borrowers with up-to-date tax returns and financials. Lenders assess two years of tax returns, assessment notices, and business financials. This type of loan offers high borrowing capacity, access to features like offset accounts and redraw facilities, and fixed and variable rate choices.
2. Low-Doc Loan
Low-doc loans are designed for borrowers who can’t provide the usual financial documentation, such as those in start-up mode or recently expanded businesses. Instead of full tax returns, lenders accept alternatives like profit and loss statements or accountant’s declarations. While rates may be slightly higher, these loans make finance accessible where banks might otherwise decline.
3. Standard Variable Rate Loan
A standard variable loan moves with the market and offers flexibility in repayments, extra contributions, and redraw options. It’s ideal for borrowers who want to manage repayments actively or pay off their loans faster when income permits. With access to over 40 lenders, brokers can help match borrowers with a variable product suited to their financial strategy.
4. Fixed Rate Loan
A fixed-rate loan offers repayment certainty over a set term—typically one to five years. It’s popular with borrowers seeking predictability, especially in volatile rate environments. While fixed loans offer fewer flexible features, their stability can be valuable for budgeting and cash flow planning.
5. Split Loan
A split loan combines fixed and variable portions, giving borrowers the security of a fixed rate on part of the loan and the flexibility of a variable rate on the other. This structure benefits self-employed clients with irregular income, allowing them to lock in part of their repayment while keeping some funds accessible.
6. Construction Loan
Construction loans release funds in stages aligned with the building process, from the initial slab to completion. These loans suit clients building a new home or undertaking major renovations. Most lenders offer interest-only repayments during construction, switching to principal-and-interest after the build. Managing timelines and approvals is key to a smooth experience.
7. Interest-Only Loan
Interest-only loans allow borrowers to pay just the interest portion of the loan for a set period, preserving cash flow. This structure is often used during growth phases in business or for investment purposes. After the interest-only period, the loan typically converts to principal-and-interest repayments.
8. Offset Home Loan
An offset home loan links your savings account to your mortgage, reducing the interest charged on the loan. For self-employed borrowers with fluctuating income, it’s a valuable tool for managing cash flow while still reducing interest and accelerating loan repayment. The funds remain accessible, offering both flexibility and efficiency.
Red Door Financial Group is a Melbourne-based brokerage firm that offers personalised financial solutions for residential, commercial, and business lending.
Early indications from several big regional real-estate boards suggest March was overall another down month.
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