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Myanmar Earthquake: Death Toll Climbs to 3,145 Amid Ongoing Rescue Efforts

The devastating earthquake that struck Myanmar nearly a week ago has claimed at least 3,145 lives, with search and rescue teams continuing to recover bodies from the rubble. The 7.7 magnitude quake, which had its epicenter near Mandalay, Myanmar's second-largest city, caused widespread destruction, including collapsed buildings, damaged roads, and destroyed bridges.  Humanitarian aid groups are working tirelessly to provide survivors with medical care and shelter, as thousands remain homeless and vulnerable to disease outbreaks. The United Nations estimates that over 17 million people have been affected by the disaster, with more than 9 million severely impacted.  In response to the crisis, Myanmar's military government has declared a temporary ceasefire to facilitate relief efforts. However, ongoing challenges, including communication blackouts and difficult-to-reach areas, have hindered the full assessment of the disaster's impact.  The coming days will be critical in d...
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Bitcoin Surges to New Heights Before Swift Retreat

 

In a thrilling rollercoaster ride, Bitcoin recently scaled dizzying heights, briefly touching an all-time high of over US$69,000. However, the euphoria was short-lived as the cryptocurrency swiftly retreated, shedding thousands of dollars within hours.

The Record-Breaking Moment:

  • Historic High: On Tuesday, Bitcoin achieved a milestone by surpassing its previous peak from November 2021. Back then, it had soared before plummeting below US$17,000 due to rising interest rates and the collapse of major crypto exchange FTX.
  • ETFs Fueling Momentum: The debut of Bitcoin-focused exchange-traded funds (ETFs) in the U.S. has been a game-changer. These ETFs provide an accessible avenue for investors who want exposure to Bitcoin without the complexities of crypto wallets or centralized exchanges. The influx of institutional buyers has also contributed to the recent surge.
  • Resilience and Staying Power: Despite being declared “dead” multiple times, Bitcoin continues to defy setbacks. Its resilience has caught the attention of institutions worldwide, making it increasingly difficult to ignore.

Market Dynamics:

  • Institutional Interest: Notably, more institutional players are entering the crypto arena, drawn by the allure of digital assets.
  • WonderFi’s Surge: Toronto-based WonderFi, owner of Coinsquare, witnessed a staggering 300% increase in trading volumes as Bitcoin’s price soared to a record high in Canadian dollars last week.

As we navigate this volatile landscape, all eyes remain on Bitcoin’s next move. Will it reclaim its throne or face another twist in the crypto saga? Only time will tell.


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