Breaking news

Cyprus President Christodoulides Launches Nationwide Tour to Address Rural Development

President, Nikos Christodoulides has announced a tour of all districts, starting from rural areas, to discuss with the local key actors the Local Government reform which kicked in last July.

He was speaking on the sidelines of a 7 September event at the Presidential Residence in Troodos organised by First Lady, Philippa Karsera-Christodoulides, for the promotion of small, local businesses.

President Christodoulides stated that the revitalisation of rural areas was among the Government’s priorities. “To be able to achieve this, a holistic approach is required, which is about the existence of conditions, especially for young couples, to return to our countryside”, he added.

He referred to a housing scheme announced by the Government while also noting that the Government places special emphasis on education and health in rural areas as well as businesses.

President Christodoulides said that several projects have been done while “even more” would follow.

He also said that he would, in the near future, start a tour of all districts, starting from rural areas, following the implementation of the local government reform, to discuss with local key actors to see how to create the conditions to attract more people in rural areas and proceed with the announcement of even more specific actions.

Bitcoin Surges 23% In A Week As Investor Optimism Returns

Bitcoin was on track for a weekly gain of around 23% on Friday as a series of positive macroeconomic and policy developments boosted investor sentiment.

The cryptocurrency was trading about 6% higher at roughly $77,000, up from around $62,800 at the start of the week. Crypto-related stocks also rallied, with Coinbase and Circle gaining more than 9%, while Strategy rose 7%.

Macro Factors Fuel Rally

Bitcoin’s latest surge began Wednesday after Treasury yields fell sharply following a major intervention by the U.S. Treasury in the bond market. Lower yields eased pressure on risk assets and helped trigger a broader move into cryptocurrencies.

The rally was further amplified by a major short squeeze. Around $2.7 billion in crypto short positions were liquidated, according to CoinGlass.

Max Stuedlein, head of Partnerships at Sygnum APAC, said the move reflected an alignment of macroeconomic and policy catalysts, including the Treasury’s decision to increase buybacks of longer-dated government debt.

Clarity Act Boosts Sentiment

Investor confidence improved further on Thursday as the White House and crypto industry leaders made a final push to advance the Clarity Act in the coming weeks.

The legislation is widely viewed as a potential catalyst for the crypto market, although its chances of passing remain relatively limited.

Despite the rally, bitcoin remains well below its 2026 high of $94,820 reached in January and its all-time high of $126,198, set last October.

Analysts See More Volatility Ahead

Lucy Gazmararian, founder and managing partner at Token Bay Capital, said the crypto market may be approaching the end of its bear cycle.

She expects bitcoin could experience one more decline of around 20% before the market turns, pointing to historical cycles and the recent liquidation of heavily leveraged short positions.

Gazmararian also described bitcoin as a long-term hedge against monetary debasement, while warning that its short-term price remains highly volatile and driven by market cycles.

Aretilaw firm
eCredo
Uol
The Future Forbes Realty Global Properties

Become a Speaker

Become a Speaker

Become a Partner

Subscribe for our weekly newsletter