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Markets

Currencies

This Month

A recent report from the US Treasury points to an emerging trend of falling foreign holdings.

How to navigate the rise of de-dollarisation

The greenback still dominates global trade and makes up the bulk of central bank reserves, but elsewhere the reliance on the US dollar is falling.

US Navy vessels in the Strait of Hormuz in August 2024. A slowdown in shipping traffic through the Strait, which runs along Iran’s South coast, is set to turbocharge the price of oil.

Iran turmoil reinstates US dollar’s haven appeal in blow to $A

Conflict in the Middle East reverses greenback weakness, as rising oil prices and escalation fears bolster demand for safe haven.

February

US President Donald Trump

Fund managers take most bearish stance on US dollar for a decade

Bets against the dollar have outweighed positive wagers this year, amid anxiety over Donald Trump’s aggressive geopolitics and attacks on the Federal Reserve.

RBA debuty governor Andrew Hauser at an event last year. Hauser struck a hawkish tone on inflation on Wednesay, fuelling speculation that the RBA will raise the cash rate again this year.

$A to hit the ‘mid-70s’ in US cents as RBA raises interest rates

The sudden surge has pushed the Australian dollar above US71¢ and that is tipped to carry on for the next few months, but the rally could rapidly unwind.

Dan Roberts, co-CEO of bitcoin miner Iren at the AFR Entrepreneur Summit in 2024. Iren’s revenue has slid 23 per cent in the December quarter.

Bitcoin plunge sends Iren’s revenues south despite pivot into AI

The Nasdaq-listed, Australian digital infrastructure business remains dependent on the cryptocurrency despite moving increasing toward data centre services.

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Inflows into US spot-bitcoin ETFs had acted as a leg of support for much of 2025 as tens of billions of dollars flowed into the products and helped buoy the token’s price. But those flows have reversed.

Bitcoin plunges as ‘forced deleveraging’ accelerates

The cryptocurrency’s rout gathered momentum, with it briefly falling below $US63,000 in New York, forcing ever more investors to exit at a loss.

A bitcoin conference in Nevada last year when prices were soaring. The currency has been on the longest downward run since 2018.

Bitcoin’s shocking four-month slide reverberates around the market

The world’s most popular cryptocurrency has slumped by more than a third since its October peak, putting it on its longest losing streak since 2018.

The higher Australian dollar is lowering the real cost of many products, putting pressure on inflation.

The RBA’s inflation fight finds Hail Mary in soaring Australian dollar

Traders say that the higher currency will put pressure on economic growth and make goods cheaper, slicing half a percentage point from official inflation.

Donald Trump’s official token has made the president-elect significantly wealthier over the weekend.

A year after $TRUMP craze, the memecoin market is struggling for life

But some investors are betting on a resurgence as speculators hoping for big paydays dump more mainstream crypto assets like bitcoin and look further afield.

January

Dollar traders are now paying the most on record to hedge against a deeper sell-off in the US currency.

Trump shrugs off US dollar decline as $A surges 1pc

The extended weakness reflects investor caution amid unpredictable Washington policymaking, and multiplying longer-term risks including the Fed’s independence.

Bitcoin briefly popped over $US97,000 on the road to return to six figures.

Bitcoin closes in on $US100k as billions pile into ETFs

Observers are optimistic the world’s largest cryptocurrency can once again hit six figures, but it will need a catalyst.

Michael Platt’s hedge fund rocketed 73 per cent in 2025.

Billionaire investor taught by his gran beats market with 73pc return

Michael Platt once boasted that he was the “highest-earning person in the world in finance”. A timely bet against the US dollar helped his cause in 2025.

December 2025

Bitcoin has collapsed 30 per cent from its October record.

Wall Street investors to unleash war chest on bitcoin in 2026

After investors remained on the sidelines after a turbulent year in crypto markets, things could be about to change if the US keeps cutting interest rates.

Federal Reserve chairman Jerome Powell  signalled a rate cut pause.

Fed-RBA rate divide spells good news for the $A

The Australian dollar hit a three-month high and is tipped to extend its gains as the diverging rate outlook between the US and Australia continues to widen.

Crypto investors are cautiously optimistic following a two-month sell-off.

Battered crypto investors are preparing for a new year resurgence

The country’s top digital asset funds are licking their wounds following a brutal year in crypto markets. Investors are positioning for an imminent rebound.

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Michael Saylor previously said he would never sell bitcoin.

Why Michael Saylor’s bitcoin hype machine is glitching out

The entrepreneur’s cryptocurrency strategy has been so lucrative it has spawned dozens of imitators that treat it like a cheat code on a video game.

Michael Saylor at a bitcoin conference last year. His business, Strategy, is the single largest owner of the cryptocurrency.

Fear and loathing come for bitcoin as big investors ponder selling

The world’s most popular cryptocurrency is now worth one-third less than at its record this year. A fire sale by this little-known holder could make it worse.

November 2025

Investors have stepped back into cryptocurrency markets this week.

Bitcoin tops $US90,000 as options point to sentiment shift

Investors have jumped back into the world’s largest cryptocurrency, helped by higher equity markets and the prospect of a US interest rate cut next month.

Bitcoin accounts for almost 60 per cent of the cryptocurrency market’s roughly $US3.2 trillion in market value.

Retail investors join whales to wipe 11 months of bitcoin gains

Doubts about the likelihood of interest rate cut has intensified the pressure on cryptocurrencies at the same time as ETFs see a big outflow of money.

Bitcoin has now turned negative since Trump’s inauguration.

Bitcoin on the edge of erasing year’s gain as rout deepens

Investors pulled nearly $1.4 billion from funds investing in the token on Friday, the second-largest daily withdrawal since their debut.

Crypto assets have been left in a daze following last month’s crash.

Bitcoin faces big test after flash crash as investors flee ETFs

More than $US2 billion has been pulled from US bitcoin ETFs since October 29 as the scars from last month’s collapse deter traders from buying the dip.

Bitcoin is now up less than 10 per cent this year, lagging equities.

Bitcoin enters bear market as sentiment hits ‘extreme fear’

Traders remain spooked by the crypto market’s historic liquidation event which has intensified bitcoin’s 20 per cent decline from its record.

A trader at the New York Stock Exchange. Company profits and markets have held up despite fears over Donald Trump’s tariff regime.

Want to follow the money? Start looking outside the US

Policy uncertainty now embedded in the US means it can no longer be the only safe haven. It’s time for a new MAGA pledge, to Make Assets Global Again.

October 2025

Zhao has a net worth of $US54.5 billion ($83.7  billion), according to the Bloomberg Billionaires Index.

Binance founder Zhao pardoned by Trump in latest crypto clemency

The billionaire served a four-month sentence in 2024 after pleading guilty to not implementing anti-money laundering measures on his digital assets exchange.

Bitcoin and ethereum are the biggest digital assets listed on most digital currency exchanges.

Crypto’s ‘catastrophic’ crash comes as Australian bets pass $1b mark

Heavily invested local traders are licking their wounds after the biggest one-day sell-off in digital currencies. But some are already buying the dip.