Breaking news

Economy and cost of living the main reasons Cypriots voted in this years European elections 

The economic situation and rising prices and cost of living were the main topics that motivated Cypriots to vote in the last European elections in June this year, according to a post-electoral survey published by the European Parliament.

These were also the two main reasons for voting on the EU level (42% for cost of living and 41% for the economic situation), but the shares were much larger in Cyprus where the economic situation led with 56%, followed by rising prices and cost of life with 47%.

The third most popular reason in Cyprus was migration and asylum (45%, compared to 38% and sixth place in the EU average), followed by education in fourth place (26%, compared to 13% in the EU) and democracy and rule of law in fifth place (24%, compared to 32% and fourth place in the EU).

The international situation was in sixth place for Cypriots tied with the defence and security of the EU (21%), while on average in the EU the global situation was picked in third place with 34% and defence and security in seventh place with 28%.

Those who did not vote in Cyprus said the cost of living (53%), migration and asylum (45%) and the economic situation (42%) could have motivated them to participate in the elections.

The European Parliament post-electoral survey across the EU was conducted between June 13th and July 8th 2024, with a total of 26,349 face-to-face interviews. In Cyprus, the survey was conducted from June 13th to July 5th, and a total of 506 face-to-face interviews.

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.

eCredo
The Future Forbes Realty Global Properties
Uol
Aretilaw firm

Become a Speaker

Become a Speaker

Become a Partner

Subscribe for our weekly newsletter