Stalled US-Iran talks could destabilize regional security and impact global nuclear non-proliferation efforts, increasing geopolitical tensions.

The post US-Iran talks stall over uranium, April 30 enrichment deal in doubt appeared first on Crypto Briefing.

Institutional interest in Bitcoin could drive significant price volatility, influencing broader market sentiment and investment strategies.

The post Strategy’s $3B Bitcoin buy fuels April $80K price target speculation appeared first on Crypto Briefing.

Selective tariff relief may reduce EU's need for retaliatory measures, potentially easing broader trade tensions and impacting market dynamics.

The post China waives 125% tariff on US ethane, easing trade tensions appeared first on Crypto Briefing.

Trump's potential meeting with Iranian leaders could signal a shift in US-Iran relations, impacting global oil markets and diplomacy.

The post Trump open to meeting Iranian leaders in Islamabad amid oil sanction talks appeared first on Crypto Briefing.

The DPA memo may stabilize oil prices and reduce foreign dependency, but market volatility and skepticism about reserve targets persist.

The post White House invokes DPA to boost US petroleum production amid reserve concerns appeared first on Crypto Briefing.

Bitcoin Magazine

Bitcoin Price Retakes $76,500 as Iran Tensions and Oil Volatility Drive Market Uncertainty

Bitcoin price traded above $76,500 today, holding onto recent gains despite rising geopolitical tension. Bitcoin fell back toward $75,000 into the weekly close and over the weekend as renewed tension between the United States and Iran rattled markets and refocused attention on oil prices.

The pullback followed a failed breakout above $78,000, which had marked Bitcoin’s highest level in ten weeks. The move higher came after a brief easing in geopolitical risk, when Iran signaled the Strait of Hormuz was open. That shift sent crude lower and lifted risk assets, including crypto. The rally reversed once reports emerged that the waterway had been closed again, raising the prospect of tighter global oil supply.

“Bitcoin finally broke out of its multi-week range last week, now trading around $75,000, finally breaching the important $74,000 as $530 million worth of shorts were squeezed by positive developments around the Straits of Hormuz,” Bitfinex analysts wrote to Bitcoin Magazine. 

The Strait of Hormuz handles a significant share of the world’s oil shipments, and any disruption tends to drive energy prices higher. Oil climbed back toward the high-$80 range after the renewed closure, adding pressure to inflation expectations and risk markets. Bitcoin price, which has tracked macro conditions through the conflict, gave up gains as sentiment shifted.

“The sustainability of a move higher [for bitcoin] now hinges on geopolitics as the US-Iran ceasefire expires 21 April unless a resolution is found, leaving upcoming negotiations in the driving seat and determining whether this breakout evolves into a continuation or a failure,” Bitfinex analysts note.

Market data shows the reversal triggered a wave of liquidations. More than $250 million in crypto positions were wiped out over a 24-hour period, with longs taking the brunt after the failed push higher. The unwind followed a larger short squeeze earlier in the week, when Bitcoin price’s surge above $76,000 forced bearish bets out of the market.

Traders remain focused on key technical levels. Bitcoin price continues to face resistance near its 21-week exponential moving average, which sits just below $79,000. Analysts say rejection at that level raises the risk of a retest of support near $73,000, an area tied to a prior double-bottom formation.

Derivatives positioning also points to heightened volatility. Roughly $7.9 billion in Bitcoin options are set to expire this week, with heavy open interest clustered around the $75,000 strike. That level may act as a pivot zone, where dealer hedging flows could amplify price swings in either direction.

Bitcoin price sentiment is bullish

Despite the recent pullback, broader sentiment has not fully turned. Funding rates in perpetual futures remain negative, signaling that short positioning is still elevated. That leaves room for another squeeze if prices hold above key support levels.

At the same time, macro drivers remain dominant. Bitcoin price’s recent price action has shown sensitivity to headlines tied to the conflict and energy markets. Any sustained rise in oil prices could reinforce inflation concerns and delay expectations for looser monetary policy, a backdrop that has weighed on crypto demand in recent months.

This post Bitcoin Price Retakes $76,500 as Iran Tensions and Oil Volatility Drive Market Uncertainty first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

Bitcoin Magazine

Alcoa Nears Sale of Idle New York Smelter to NYDIG for Bitcoin Mining Use

Alcoa is in talks to sell its idle Massena East aluminum smelter in upstate New York to bitcoin mining firm NYDIG, according to comments from Alcoa chief executive Bill Oplinger in a Bloomberg interview.

The Massena East site sits along the St. Lawrence River and has been out of operation since 2014. The closure followed sustained pressure from high energy costs and global competition that reduced domestic aluminum production. The facility spans about 1,300 acres and contains heavy electrical infrastructure built for continuous industrial use.

Alcoa is pursuing a broader plan to divest a group of idle US smelter assets. The company has identified ten dormant sites for potential sale as it shifts focus toward higher-margin operations and reduces exposure to high-cost legacy facilities. The Massena East property is one of the most advanced cases in that program.

NYDIG, a bitcoin financial services firm linked to Stone Ridge, has expanded its presence in industrial-scale mining infrastructure over the past two years. The firm has built exposure to mining operations through partnerships and acquisitions, including involvement with Coinmint at the Massena campus under a long-term lease structure tied to the site’s power capacity.

The Massena East smelter draws power from the New York Power Authority hydropower system. That access to stable electricity supply forms a key part of the site’s value for digital asset mining operations. Aluminum smelters require large and constant energy input, and their grid connections often remain intact after shutdown. That infrastructure reduces the time required for conversion into data center or mining use.

NYDIG holds a strategic stake in Coinmint, the operator of bitcoin mining equipment at the broader Massena campus. Coinmint has hosted mining clients under existing arrangements tied to Alcoa’s property and power agreements. The planned transaction would transfer control of the smelter site itself to NYDIG and expand its operational footprint in the region.

Alcoa and NYDIG have discussed terms for a transfer structure that includes ownership of the land, electrical systems, and remaining industrial assets. Both sides aim to complete the transaction within the middle portion of the year, pending final agreements and regulatory steps.

Bitcoin mining and high-performance computing 

The proposed sale follows a broader trend across North America in which retired aluminum smelters and other heavy industrial sites shift toward digital infrastructure use. These sites offer large power connections, transmission access, and industrial zoning that suit bitcoin mining and high-performance computing workloads.

Century Aluminum completed a similar transaction involving its Hawesville, Kentucky smelter, which was sold to TeraWulf for redevelopment into a data center and computing campus. That deal reflected growing demand for sites with secured energy capacity.

NYDIG continues to build its position in bitcoin mining through acquisitions of power-linked assets and mining operations across multiple US states. The firm has acquired capacity in North Dakota, South Dakota, Pennsylvania, and Missouri, and has added additional mining infrastructure through separate transactions involving energy-focused companies.

The Alcoa–NYDIG deal, if completed, would place one of the largest US aluminum production sites under bitcoin mining ownership and extend the reuse of legacy industrial power infrastructure for digital asset operations.

This post Alcoa Nears Sale of Idle New York Smelter to NYDIG for Bitcoin Mining Use first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

Bitcoin Magazine

Jason Lowery Appointed Special Assistant to U.S. Indo-Pacific Command Commander, Bringing Bitcoin Strategic Expertise

Jason Lowery, former Deputy Director of Technology & Innovation at the United States Space Force, and author of Softwar: A Novel Theory on Power Projection and the National Strategic Significance of Bitcoin, has announced his new role as Special Assistant to the Commander, U.S. Indo-Pacific Command. 

In a LinkedIn update, he shared his Honor to receive the appointment, explaining that “In this new position, I will directly advise and report to the Combatant Commander on strategic priorities affecting the Department of Defense and the Indo-Pacific region.” Lowery added, “It’s a humbling responsibility during a critical time for our national security posture. I’m grateful for the trust placed in me to support this level of leadership, and excited to contribute to the mission.”

Lowery rose to Bitcoin fame as he made the case that Bitcoin is a new landscape of military technology and defense, where power is projected not via bullets, missiles or drones, but by commanding more hashing power, which governs Bitcoin’s proof of work protocol. Those who control enough hashing power can guarantee the confirmation of their Bitcoin transactions, and in extreme cases, those who dominate the hash rate can interfere in the confirmation of their enemies’ transactions. The thesis, which is best understood by reading Lowery’s work, poses Bitcoin as a fundamental change in military technology, akin to the discovery and proliferation of gunpowder or aviation. 

The announcement comes just days after Iran told FT they would specifically accept Bitcoin for safe passage through the Strait of Hormuz. While there have been no reports of the Bitcoin Toll of Hormuz becoming a reality yet, the story made international news and appears to have reached the halls of power in D.C. and the Department of War. While the Gulf states and the Strait of Hormuz fall under a different division of the DoW called CENTCOM, the timing of Lowery’s appointment nevertheless demonstrates a recognition of Bitcoin’s strategic value in geopolitics. He will be advising command over a wide region, including China, the Indian Ocean and the Pacific Ocean regions, many of which benefit tremendously from Gulf oil that passes through Hormuz. Some reports suggest China drew up 42% of its oil from affected Gulf states before the war.  

This post Jason Lowery Appointed Special Assistant to U.S. Indo-Pacific Command Commander, Bringing Bitcoin Strategic Expertise first appeared on Bitcoin Magazine and is written by Juan Galt.

Bitcoin Magazine

Capital B Buys 12 Bitcoin, Expands Treasury to 2,937 BTC

Capital B, the listed arm of The Blockchain Group, confirmed the acquisition of 12 bitcoin as it continues to build out its treasury strategy centered on the digital asset.

The company said it spent €0.8 million on the purchase, bringing total holdings to 2,937 BTC. The group’s aggregate acquisition cost stands at €270.1 million, with an average purchase price of €91,975 per bitcoin, according to a note shared with Bitcoin Magazine. 

The latest buy follows a series of transactions since early 2026, with the company reporting a year-to-date BTC yield of 1.57%. It also posted a BTC gain of 44.4 BTC and a BTC-denominated gain of €2.9 million over the same period. Quarterly figures show a 0.85% yield and a gain of 24.4 BTC.

Last week, the company confirmed the purchase of 37 BTC for €2.3 million, at a reference price of €60,892 per coin, as part of its ongoing Bitcoin Treasury strategy.

Alongside the purchase, Capital B completed several financing actions tied to its treasury strategy.

The firm confirmed the full exercise of 16.6 million BSA 2025-01 warrants, which converted into 2.36 million ordinary shares. The transaction raised about €1.29 million. The company noted that the warrants expired on April 10, 2026, and any unexercised rights are now void.

Capital B also carried out a capital increase under its at-the-market agreement with TOBAM. The issuance of 370,701 new shares at an average price of €0.60 generated €0.22 million. The price reflects a discount to the recent market close, based on the agreement’s pricing mechanism tied to trading volumes and prior-day benchmarks.

The proceeds from these operations supported the latest bitcoin acquisition.

Bitcoin as a reserve asset for Capital B

The company positions itself as a Bitcoin Treasury Company, with a stated objective of increasing the amount of bitcoin held per fully diluted share over time. Its model mirrors a growing trend among public firms that allocate capital to bitcoin as a reserve asset.

Custody and execution for the latest purchase were handled by Swissquote Bank Europe SA, with assets secured through infrastructure provided by Taurus.

Capital B operates subsidiaries focused on data intelligence, artificial intelligence, and decentralized technology consulting. Its shares trade on Euronext Growth Paris.

The company’s capital structure reflects a mix of institutional and public investors, including Blockstream Capital Partners, TOBAM funds, and other shareholders. Following the latest transactions, total shares outstanding stand at about 274.9 million on an ordinary basis and 394.8 million on a fully diluted basis.

Earlier today, Strategy (MSTR) added 34,164 BTC for $2.54B, its third-largest purchase, bringing total holdings to 815,061 BTC acquired at an average cost of about $75,527 per coin. The move pushed the company ahead of BlackRock in total Bitcoin holdings, with its position now roughly near break-even as BTC trades around $75,000.

Disclaimer: Bitcoin Magazine is owned by Nakamoto Inc. (NASDAQ: NAKA). Nakamoto Inc. also owns UTXO Management. UTXO Management invests in Capital B.

This post Capital B Buys 12 Bitcoin, Expands Treasury to 2,937 BTC first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

Bitcoin Magazine

Spot Bitcoin ETFs Cross $1B Last Week in Inflows as Cumulative Flows Approach Record High

U.S. spot bitcoin ETFs recorded net inflows of $996.4 million last week, marking the strongest weekly intake since mid-January. The move extends a three-week inflow streak that has added more than $1.8 billion to the category and pushed year-to-date flows above $1 billion after a prior stretch of net outflows.

BlackRock’s IBIT led issuance with $906 million in net inflows during the week. Morgan Stanley’s MSBT posted $71 million in inflows in its first full trading week after launch on April 8. Ethereum spot ETFs recorded $275.8 million in net inflows over the same period.

ETF accumulation continues to define bitcoin market structure in 2026. U.S. spot bitcoin ETFs bought 8,572 BTC on Friday alone. The ten-day net accumulation rate reached 24,197 BTC. Total holdings sit 3.71% below the peak recorded on October 10, 2025, despite a large price decline during the same period.

Cumulative net flows across U.S. spot bitcoin ETFs sit near $58 billion. The peak level reached $62.8 billion. The gap between current and peak cumulative flows stands near $5 billion. This metric remains the central reference point for institutional adoption tracking because it reflects total capital entering the product set since launch, minus all withdrawals.

Market structure data shows sustained demand from institutional allocators. Weekly inflows have returned after a period of net redemption pressure. The recovery follows a full reversal of prior outflows and extends the category back into positive territory on a year-to-date basis.

Bitcoin ETF demand

ETF demand has become a dominant component of bitcoin supply absorption. New issuance from mining remains limited relative to ETF accumulation rates. The imbalance between supply and demand continues to influence liquidity conditions across spot venues.

Morgan Stanley’s newly minted MSBT Bitcoin ETF recorded $116M in net inflows in its first week, a small figure against the firm’s $1.9T asset base but notable for a new crypto product in a competitive ETF market.

Despite trailing giants like BlackRock’s IBIT and Fidelity’s FBTC, the launch signals growing bank involvement in Bitcoin ETFs, with its low 0.14% fee positioning it as a cost-competitive and legitimacy-driven entry point.

Price action across all ETFs remains sensitive to flow regimes. Bitcoin ETF inflows tend to align with stronger bid support in spot markets, while outflow periods coincide with reduced demand absorption. The latest inflow wave coincides with stabilization in broader risk assets and renewed positioning from institutional desks.

The composition of inflows shows concentration in large products. IBIT continues to capture the majority of flows across the category. Smaller and newer funds show uneven participation, though MSBT recorded early traction in its first full trading week.

Across global products, cumulative ETP demand shows a similar direction. Institutional accumulation remains a key driver of total bitcoin demand alongside corporate treasury purchases and long-term holder retention.

ETF holdings remain close to record levels despite volatility in price. This divergence between holdings and price reflects sustained accumulation during drawdowns rather than distribution. The structure suggests long-duration allocation behavior rather than short-term trading exposure.

This post Spot Bitcoin ETFs Cross $1B Last Week in Inflows as Cumulative Flows Approach Record High first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

Tehran is fighting a new price signal in public

Mohammad Bagher Ghalibaf chose a strange phrase for a dangerous moment. In the middle of a live crisis around the Strait of Hormuz, Iran’s parliament speaker mocked “vibe-trading digital oil” and took a swipe at US Treasuries as well, turning a market argument into part of a wartime message campaign.

The immediate surface read is easy enough. A senior Iranian official wanted to ridicule speculative pricing and frame physical oil as the real thing.

The deeper significance sits somewhere else. A state actor in the middle of a regional conflict is now speaking directly to the way risk is being priced on crypto-native rails.

That shift deserves more attention than the phrasing itself. Oil has always carried military weight, inflation risk, and political leverage.

What changed over the past several weeks is the venue through which some of that risk gets expressed first. As CryptoSlate documented in late March, the market for 24/7 oil exposure accelerated as geopolitical shocks kept landing outside the operating hours of traditional exchanges.

The world does not pause on weekends, so traders increasingly want a venue that stays open when the old infrastructure is dark.

The Iran angle carries more force than a generic crossover between geopolitics and crypto. Tehran is no longer talking about crypto as a sanctions story, a payments workaround, or a symbolic side channel.

It is reacting to a market function. When a public official in a war zone starts arguing about “digital oil,” the implication is that these synthetic and crypto-linked instruments have become visible enough to enter the information battle around price itself.

The timing carries extra significance because the Strait of Hormuz remains one of the world's most important chokepoints. The International Energy Agency says around 20 million barrels per day moved through the strait in 2025, about a quarter of the world’s seaborne oil trade.

The US Energy Information Administration says flows through Hormuz accounted for more than one quarter of global seaborne oil trade and about one-fifth of oil and petroleum product consumption, alongside around one-fifth of global LNG trade.

Those numbers pull the issue out of crypto-native abstraction very quickly. A disruption there can bleed into fuel prices, shipping costs, inflation expectations, central-bank bets, and broader market stress.

Ghalibaf has already been leaning into market language throughout this conflict. Last week, after Washington tightened pressure around Hormuz, he warned that Americans would grow “nostalgic” for cheaper gasoline.

CryptoSlate also reported that Iran had floated Bitcoin-denominated payments for tanker passage, pulling BTC directly into a coercive chokepoint debate. Today’s attack on “digital oil” extends that pattern.

Tehran is speaking in the language of price, and that reveals something important on its own. Crypto has moved closer to the front edge of global market signaling during conflict, and public officials can see it.

The market that stays open during war weekends is starting to shape the first reaction

The central mechanism here is simple and powerful. Legacy oil markets still have defined hours, established benchmarks, and deeper institutional roots.

Conflict does not respect those hours. Missiles, naval warnings, tanker disruptions, and diplomatic breakdowns tend to land whenever they land.

That leaves a gap between the moment risk arrives and the moment conventional venues fully reopen. Crypto-native derivatives platforms have spent the past few months filling that gap.

The strongest example has been Hyperliquid. In March, Bloomberg reported that an oil-linked perpetual contract on the platform generated more than $1.2 billion in 24-hour volume as Middle East tensions intensified.

CryptoSlate later noted that wartime oil trading helped push HYPE into the crypto top 10, with the token gaining a second channel of demand as traders used the venue to express oil views around the clock.

Hyperliquid’s oil-linked contracts have become a live venue for traders who want exposure before mainstream markets come back online.

Related Reading

Why the US-Iran conflict sent traders to Hyperliquid — and pushed HYPE into crypto’s top 10

Weekend oil trading surge on Hyperliquid’s platform fuels HYPE token’s rise during wartime market adaptation.

Mar 18, 2026 · Oluwapelumi Adejumo

Crypto did not suddenly take over the global oil price. Brent, WTI, physical barrels, and legacy futures venues still anchor the market.

What crypto venues are beginning to influence is the first tradable reaction when the old system is shut. In fast markets, that first reaction can carry real weight.

It shapes sentiment, frames expectations, and gives traders a reference point before more established benchmarks catch up. During an active conflict, first-reaction pricing can become the first draft of the broader macro move.

That is why Ghalibaf’s language stands out. He appears to be dismissing a pricing mechanism because that mechanism has become inconvenient.

Physical oil still rules the real economy, while synthetic and crypto-linked oil markets now help translate fear, scarcity, and military risk into a visible price before dawn in New York and before London is fully engaged.

Once that translation begins, the move can travel. The people trading those contracts are reacting to the same geopolitical stress that will later hit energy desks, rate markets, and equity futures.

The broader backdrop reinforces the tension. The market structure around 24/7 trading is expanding beyond crypto itself.

In late March, Wintermute launched a round-the-clock crude product through OTC channels. The same report pointed to a broader migration across finance, with tokenized equities, extended-hours settlement, and new 24-hour trading pushes gathering momentum.

Once that architecture spreads, the distinction between “crypto market” and “macro market after hours” starts to thin out.

Two paths now sit in front of the market, and both carry weight. One path leads to persistence.

If traders keep using crypto rails during geopolitical shocks, platforms built for continuous trading gain a durable foothold in macro price discovery. The other path leads to retrenchment.

If the conflict cools and volume collapses back to pre-crisis levels, the past several weeks still stand as proof points of what opens up when the legacy clock fails. Either way, the old assumption that oil, war, and macro risk belong to one world while crypto belongs to another looks weaker than it did a month ago.

Bitcoin still sits inside the same chain reaction, even when Hyperliquid carries the cleaner direct exposure

Bitcoin enters this picture through consequence rather than analogy. BTC is one step removed from the direct oil trade and sits one layer downstream, where oil shocks feed inflation anxiety, rate repricing, and broader risk appetite.

That chain comes into focus because the latest energy data already shows the conflict hitting the real economy. In its April Oil Market Report, the IEA said global oil demand is now expected to contract by 80,000 barrels a day this year, a dramatic reversal from the growth outlook it carried just a month earlier.

The agency also said global oil supply plunged by 10.1 million barrels a day to 97 million barrels a day in March, calling the disruption tied to attacks on energy infrastructure and restrictions through Hormuz the largest in history.

Those numbers reach far beyond energy desks. Higher oil prices can harden inflation pressure.

Harder inflation pressure can delay or dilute expectations for easier monetary policy. That is the bridge back to Bitcoin.

When markets push rate cuts further out, the effect often spills over to speculative and duration-sensitive assets as well. Traders can track that chain in real time through the CME FedWatch tool, where rate expectations shift as inflation risk and macro stress evolve.

That dynamic helps explain why Bitcoin can attract attention during geopolitical chaos while still trading like a risk asset when the oil impulse grows too strong. According to CryptoSlate’s latest BTC market data, Bitcoin changed hands at about $75,219 on April 20, up 0.19% over 24 hours, up 6.22% over seven days, and up 6.51% over 30 days.

Those numbers show resilience. They also show that BTC is trading inside a larger macro frame rather than floating above it.

There is a reason the cleaner direct market expression of this specific wartime shift has been Hyperliquid rather than Bitcoin itself. CryptoSlate’s latest HYPE data shows the token at around $40.87, down 5.60% on the day, down 1.81% over seven days, and still up 3.26% over 30 days.

That profile looks less like a simple fear trade and more like a venue trade, a bet that continuous access to macro risk has become a business in its own right.

The most human part of the whole picture remains easy to miss. Most people will never trade an oil perpetual contract on a crypto platform.

They will still feel the consequences if wartime risk keeps lifting energy prices, tightening supply chains, and forcing central banks into a harder posture. That is why Ghalibaf’s broadside carries more bite than it first appears to.

He is arguing about price formation because price formation is where conflict turns into lived cost. In that sense, the clash over “digital oil” is a clash over who gets to shape the first market answer when the world jolts after hours.

If this pattern holds, crypto’s next phase may look less like an isolated parallel economy and more like an overnight extension of global finance, especially in moments when old systems are closed, and the pressure is highest.

If the pattern fades, the last several weeks still offered a revealing preview. A live military crisis pushed oil speculation onto crypto rails; Iran responded by attacking the legitimacy of “digital oil” in public, and Bitcoin found itself caught in the same chain reaction that runs from conflict to crude to inflation to risk.

That is a very different place for crypto to stand than the one it occupied a few cycles ago.

The post Crypto trading joins wartime propaganda as “digital oil” called out amid volatile US-Iran ceasefire trading appeared first on CryptoSlate.

The S&P 500 closed at 7,126 on April 17, another record, while the University of Michigan’s preliminary April consumer sentiment reading fell to 47.6, the weakest print in the survey’s history.

The split on the screen looks surreal.

Charlie Bilello shared the chart below, highlighting the gap.

Wall Street is trading at altitude. Households are signaling something far darker.

Bitcoin sits in the middle of that gap, pulled between its hard-asset mythology and its actual behavior in a market regime still dominated by equity risk, ETF flows, and macro positioning.

That tension gives the current setup its shape. It also gives the dot-com comparison a fresh audience, because the concern centers on the anatomy of late-cycle rallies.

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Jul 26, 2025 · Christina Comben

A recent look under the hood of the S&P 500 shows how much of the earnings revision support has come from a narrow group of names, with Micron alone accounting for 51% of positive earnings revisions since the Iran war began.

That sits alongside concentration data showing the top 10 holdings at 35.5% of SPY and the Mag 7 at 30.4%.

The index can keep climbing in that kind of structure. It can also become more fragile in exactly the moment it looks strongest.

For Bitcoin, the core question is straightforward.

If the stock rally turns out to be thinner than the headline index suggests, does BTC absorb the shock like a high-beta extension of risk appetite, or does it hold up as distrust in the broader system spreads?

Recent market behavior leans toward the first answer.

In March, Bloomberg reported that Bitcoin’s 30-day correlation with the S&P 500 rose to 0.74, the highest level of the year.

That does not settle the long-term identity debate around Bitcoin. It does narrow the short-term map.

In this phase, BTC has been moving in sync with stocks, and many holders want it to trade as an alternative.

Wall Street is celebrating, households are retreating

The clearest way to understand the present moment starts with the household side of the economy, because that is where the emotional reality comes through most sharply.

The Michigan survey sank 10.7% from March, with current conditions at 50.1 and expectations at 46.1.

Joanne Hsu, the survey’s director, said the slide extended a decline that began with the start of the Iran conflict, while respondents pointed to high prices, weaker asset values, and worsening buying conditions for durable goods and vehicles.

One-year inflation expectations jumped from 3.8% to 4.8%, the largest monthly increase since April 2025.

This is what a squeezed consumer sounds like.

Gas, groceries, financing costs, and uncertainty around household balance sheets all show up in that reading.

Energy is part of the bridge between Main Street and the market.

U.S. crude has risen to $87 and Brent to $95 after renewed tension in the Strait of Hormuz, with national average gasoline prices around $4.05 a gallon.

The survey itself points back to the Iran conflict as a driver of deteriorating sentiment.

Consumers do not need to model earnings revisions or passive inflows to feel this.

They experience it at the pump, in their shopping cart, and in how they think about replacing a car or taking on new credit.

At the same time, the equity market has been behaving as if those pressures are manageable.

The S&P 500 keeps printing all-time highs, and the Nasdaq just logged one of its most powerful bursts on record.

Plenty of that move has a rational foundation.

Earnings have held up better than feared in key pockets of the market, and hopes of de-escalation in the Middle East have offered investors a reason to take on risk again.

Even so, the divergence has widened into something difficult to ignore.

Household psychology is signaling strain. Asset prices are still signaling resilience.

That gap creates the natural tension around Bitcoin.

Crypto holders do not need another abstract debate about whether consumer sentiment can predict a recession.

The practical question is: what happens to BTC if the market decides that households have been sending the truer signal?

Bitcoin is trading around $75,500 on CryptoSlate, down 0.40% over 24 hours, up 6.3% over seven days, and up 6.5% over 30 days.

The coin has stabilized, and ETF demand has helped, though the price structure still sits 41.3% below its October 2025 all-time high of $126,198.

That leaves room for two very different interpretations.

One sees consolidation ahead of another leg higher. The other sees a market still tethered to the same macro forces that lift and threaten equities.

The dot-com analogy is useful, concentration is the sharper lens

The Nasdaq chart from 2000 has a way of resurfacing every time a market gets stretched.

It resurfaces for a reason.

Bear markets often feature violent countertrend rallies that feel persuasive in real time.

The 2000 to 2002 sequence included rebounds of 35%, 12%, 25%, 41%, and 45% before the full drawdown ended at 78%. Thierry Borgeat shared the chart below.

That pattern reminds investors that powerful upside bursts can happen inside broader periods of repricing.

It also reminds them that the path and destination can point in different directions for a long stretch.

Today’s setup still carries a different structure.

The late-1990s market was loaded with companies built on fragile business models, speculative capital, and distant earnings promises.

Today’s leaders are larger, richer, and far more cash generative.

That changes the comparison. It also raises a different risk.

When leadership narrows, and index performance depends on a smaller and smaller set of engines, the benchmark can project strength even as participation beneath it thins.

That is why the recent market internals warrant more attention than the “pure bubble” label.

Goldman Sachs data show that Micron was responsible for 51% of S&P 500 earnings-per-share revisions since the Iran war began, while Exxon Mobil, Chevron, and ConocoPhillips together contributed another 29%, and Broadcom 10%.

The median S&P 500 company saw no change in earnings expectations.

That leaves the rally resting on a narrow support base.

It does not guarantee a break, though it leaves the structure more exposed to disappointment in a small number of names and sectors.

Concentration data points in the same direction.

The top 10 holdings in SPY (35.59%) and the Mag 7 (30.44%) tell the same story in plain English.

A lot of the market’s apparent health is sitting on a small platform.

Valuations remain elevated, too.

YCharts’ cyclically adjusted P/E data and other long-run valuation measures reflect a market priced for confidence.

When leadership narrows, it takes fewer weak points to change the tone of the whole market.

When positioning is crowded, the unwind can travel faster than the buildup did.

Bitcoin’s role in that setup has changed over the last year.

Spot ETFs have made BTC a more direct channel for institutional capital, bringing both sponsorship and sensitivity.

SoSoValue’s Bitcoin ETF dashboard shows the sector attracting meaningful capital again, with $664 million in net inflows on April 17, following a March rebound after months of outflows.

Those flows can cushion a weak session.

They can also transmit a broader risk appetite straight into crypto.

Bitcoin gains a larger buyer base through ETFs, and it also inherits more of Wall Street’s mood swings through the same door.

Bitcoin is approaching an identity test

That leaves Bitcoin in a position that feels unresolved, which is the central tension running through the market now.

It is caught between two roles.

One role is a liquid risk asset that tends to run when stocks run, especially when ETF inflows are healthy and macro stress is easing.

The other role is a harder asset that can attract capital when confidence in the broader financial order weakens.

In previous cycles, those narratives often took turns. This time, they are competing in the same frame.

The near-term market still favors the risk-asset interpretation.

Bitcoin’s elevated correlation with the S&P 500 shows how the market has been treating BTC as part of the same broader appetite for risk.

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The current price data on CryptoSlate’s Bitcoin page shows recovery, though the market has not yet reclaimed its prior peak.

A calm macro backdrop, continued ETF buying, and broader participation in equities could keep that stabilization going.

In that path, Bitcoin would likely keep grinding higher alongside the same forces lifting tech and large-cap growth.

A more consequential path opens if the divergence between Wall Street and households closes through falling asset prices rather than through improving consumer confidence.

That is where Bitcoin’s identity test becomes tangible.

A crack in equities driven by narrow leadership, fading systematic support, or renewed energy stress would put immediate pressure on BTC if the current correlation regime holds.

The move would not need a crypto-specific trigger.

Stocks could do the work on their own, and Bitcoin could absorb the second-order impact through sentiment, positioning, and ETF flows.

There is another route as well, and it is the one Bitcoin bulls still have in mind.

If household stress persists, inflation fears remain sticky, and confidence in traditional assets weakens without turning into outright liquidation, Bitcoin could begin to trade more like a parallel store of value than a leveraged tech proxy.

That path is harder to call from today’s evidence.

It would likely require relative strength against the Nasdaq during a wobble in equities, along with steady ETF inflows and renewed demand for assets perceived as outside direct sovereign control.

The setup is possible. The market has not yet confirmed it.

For now, the live detail sits in the split-screen itself.

Stocks are celebrating, consumers are retreating, oil is still capable of repricing inflation expectations overnight, and Bitcoin is holding a middle ground that may not hold forever.

That is why the comparison to 2000 keeps returning.

It captures the emotional risk of powerful rallies that arrive on uneasy foundations.

It also leaves room for a more precise conclusion.

The current market does not need to be a replay of the dot-com bubble for Bitcoin holders to have a real exposure problem.

A concentrated stock rally and a deeply pessimistic consumer can coexist for a while.

They rarely coexist without consequence.

The post What Happens to Bitcoin if the TradFi rally breaks? Wall Street keeps printing record highs but consumer confidence just hit rock bottom appeared first on CryptoSlate.

KelpDAO's $292 million rsETH exploit landed at the wrong moment for DeFi. Roughly $10 billion left the sector over the weekend, after confidence had already been shaken by Drift Protocol's April 1 breach and Venus's March post-mortem.

That combination makes DeFi's problem harder to ignore. While open DeFi may still be alive for now, it is losing the case for being the default gateway to on-chain finance. Stablecoins, tokenized Treasuries, and regulated settlement rails continue to scale, while permissionless protocols continue to absorb the trust discount.

A hack scoreboard circulating on X captures the mood.

Some incidents are well documented. Some remain live situations. Some blur the line between protocol exploit, bridge failure, and user compromise. The safer route is to anchor the piece to verified 2026 failures and to the competitive shift they expose.

This moment feels different from the heyday of the DeFi Summer in 2019 and the bull run of 2021, which now feel like distant memories. Back then, DeFi sold the market on openness, speed, and composability. In 2026, those same traits still matter, but they no longer come with automatic narrative prestige.

Each large exploit raises the cost of trusting the stack, while the safest and fastest-growing corners of on-chain finance increasingly look like payment rails, Treasury wrappers, and regulated tokenized products rather than reflexive token ecosystems.

The live test is whether open DeFi can rebuild trust fast enough to keep default-front-end status. Right now, the sector looks squeezed rather than finished.

DeFi's security problem now sits above the smart contract

The easiest mistake after a big exploit is to treat every failure as another smart-contract bug. Drift's loss of about $285 million is a good example of why that frame is getting stale.

Chainalysis described a breach built around privileged access, pre-signed administrative actions, and fake collateral rather than a simple line-by-line contract failure. The market got another lesson in how much DeFi risk now lives in governance paths, signer workflows, and operational complexity.

That detail changes what users are being asked to trust. Audits and battle-tested code still matter, but they do not cover the full path from signer to bridge to oracle to market configuration. Once the system spans multiple chains, admin councils, liquidity venues, and collateral wrappers, the attack surface grows faster than the language around decentralization.

Venus's own post-mortem shows a different version of the same problem. The attacker borrowed about $14.9 million against an inflated THE position and left the protocol with just over $2 million in bad debt. That was not the same failure mode as Drift, yet the reader-facing conclusion was similar. A major DeFi venue could still be pushed into emergency accounting around thin liquidity and structural edge cases.

Then came KelpDAO's weekend shock. The exploit was severe enough, according to CryptoSlate, to trigger roughly $10 billion in withdrawals across DeFi and to force freezes around rsETH-linked markets. Even if that outflow estimate moves as conditions settle, the signal is clear. Users saw cross-chain complexity, collateral uncertainty, and possible contagion, then pulled capital.

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That reaction lines up with the broader security trend TRM outlined in its 2026 crime-report summary. The firm said infrastructure attacks drove the majority of 2025 hack losses, outpacing smart-contract exploits.

DeFi's trust problem is becoming harder to quarantine because the sector is defending the entire operating system around the code, not only the code itself.

On-chain finance is still growing, just in safer wrappers

The capital base tells a different story from a straight collapse narrative. An April CryptoSlate report pointed out that USDT had reached $185 billion in market capitalization and USDC had reached $78 billion.

The same report cited DefiLlama figures showing Tron at $86.958 billion in stablecoins and Solana at $15.726 billion.

DefiLlama's Ethereum chain page also shows where the deepest open DeFi capital still sits, which makes the current setup look more like concentration than abandonment.

The rotation is even clearer in low-volatility yield products. RWA.xyz's Treasury dashboard shows $10.9 billion in tokenized U.S. Treasuries and 55,144 holders as of March 12, 2026.

The user taking risks there is still choosing blockchain-based settlement and ownership rails. What that user is rejecting is the idea that open-ended DeFi complexity deserves an equal share of the balance sheet.

A quick way to frame the split is this:

The split is hard to miss. Capital is rotating toward products that look more legible, more collateralized, and more institution-friendly.

That is why Visa's 2026 stablecoin strategy note deserves attention. Visa said stablecoin supply grew more than 50% in 2025, reaching $274 billion in December from $186 billion a year earlier. It also framed 2026 as the year institutions need an actual stablecoin strategy. That is the language of a market category being normalized.

The same pattern appears in settlement. In its December 2025 USDC settlement announcement, Visa said its monthly stablecoin settlement volume had passed a $3.5 billion annualized run rate.

The specific number is smaller than the broader stablecoin market, yet the institutional meaning is larger. Regulated financial plumbing is moving on-chain without needing the full cultural package that DeFi used to sell.

The fight is now over who owns the rails

A recent CryptoSlate analysis framed the competitive problem clearly. Regulated venues are chasing an on-chain capital pool above $330 billion, including roughly $317 billion in stablecoins and nearly $13 billion in tokenized U.S. Treasuries.

That capital will continue to look for speed, programmability, and round-the-clock settlement. The broad live market overview reinforces that attention is concentrated on the largest assets and rails rather than on the long tail of governance experiments.

That is where the 2021 comparison turns harsh.

In the earlier cycle, DeFi could claim it was both the infrastructure and the product. It was where the innovation lived, where the yields lived, and where users went if they wanted to see the future arrive early. In 2026, more of the future is being packaged in ways that cut out the messier parts of that proposition.

Tokenized funds can offer 24/7 movement and faster settlement. Stablecoins can handle payments and treasury operations. Institutions can adopt those benefits while keeping tighter control over compliance, counterparties, and market structure.

More than 80 crypto projects had formally shuttered or started winding down in the first quarter, according to a CryptoSlate report on project closures. That number spans more than just DeFi, but it still reinforces the point that capital is becoming less patient with products that cannot demonstrate durable utility, yield, or distribution.

Crypto ETFs belong in that context. At the product level, regulated options now absorb more attention and capital, while users and institutions gravitate toward rails that deliver blockchain advantages without demanding full DeFi trust assumptions.

That leaves DeFi with a narrower but still meaningful role. Open composability and permissionless experimentation still matter, especially as a research lab for new financial primitives before safer wrappers absorb demand.

The latest evidence describes a trust squeeze.

Open DeFi is losing narrative leadership and may lose default-front-end status unless it can rebuild trust, tighten operations, and prove that its added complexity buys something irreplaceable.

The live debate now is who captures the next wave of on-chain demand, and the safer wrappers are winning the race.

The post Six years after “DeFi Summer” is the sun already setting on the decentralized finance revolution? appeared first on CryptoSlate.

Institutional investors are looking past the crypto market’s two largest behemoths, aggressively rotating capital into alternative cryptocurrencies as geopolitical tensions in the Middle East agitate traditional markets.

Data from SoSoValue shows that US-based investment vehicles tracking the spot price of XRP absorbed $55.39 million in fresh capital over the past week, positioning the asset as the undisputed leader among alternative cryptocurrency funds.

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When combined with substantial allocations into Solana, Avalanche, and Chainlink, Wall Street poured more than $100 million into altcoin-focused exchange-traded funds last week, signaling a sophisticated diversification strategy beyond Bitcoin and Ethereum.

The surge in altcoin demand comes amid severe macroeconomic crosscurrents. Digital asset markets are currently navigating deeply fragile sentiment driven by escalating military confrontations between the United States and Iran, alongside a looming ceasefire deadline.

Yet, rather than retreating entirely to the safety of cash, institutional and retail participants are utilizing regulated crypto investment vehicles to capture yield and position themselves for potential supply shocks.

Overall, the US crypto ETF landscape witnessed massive inflows across the board last week. Bitcoin funds commanded $996.38 million, while Ethereum products pulled in $275.83 million.

However, it is the rotation down the market capitalization spectrum that has captured attention, highlighting a maturing market in which traditional finance is increasingly willing to underwrite the risk of decentralized payment networks and smart contract platforms.

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Rotating down the market cap spectrum

The nearly $56 million allocated to XRP-linked funds marks the product category's second-best weekly performance of 2026, trailing only the week of Jan. 16, which saw $56.83 million in net additions.

This latest wave of capital cements XRP as the best-performing crypto asset outside of the industry's two majors.

By comparison, Solana-linked funds secured $35.17 million during the same period, its strongest performance since February.

Meanwhile, Avalanche and Chainlink ETFs registered slightly over $5 million each. Notably, this represents the strongest weekly performance since launch for Avalanche, and the highest weekly buy-in for Chainlink since last December.

Smaller-cap products also saw minor activity, with Dogecoin ETFs registering $187,310 and Hedera pulling in roughly $123,300. In a testament to the highly targeted nature of this altcoin rotation, only Litecoin products recorded zero flows during the week.

For XRP, the latest figures represent a major reversal from sluggish March, when the funds saw their first notable outflows of the year.

The resurgence was characterized by a relentless six-day positive streak, with the funds averaging double-digit, million-dollar inflows daily.

According to SoSo Value data, these investment products are now on track to record their strongest month of the year, having already attracted $65.89 million in April.

This latest push has elevated total historical inflows to $1.27 billion, pushing cumulative assets under management to approximately $1.11 billion.

Product expansion broadens the XRP market

Beyond the confines of traditional ETFs, XRP's fundamental demand is being bolstered by aggressive expansions into decentralized finance (DeFi).

Last week, a wrapped version of the asset (wXRP) officially went live on the Solana blockchain. Issued by the institutional custodian Hex Trust, the integration makes the token natively available in Solana's bustling DeFi ecosystem for the first time.

According to Hex Trust, every wXRP is backed 1:1 by native XRP held in segregated custody accounts, ensuring immediate redeemability.

The development allows XRP holders to deploy their assets to major Solana-based decentralized applications to generate yield, without being forced to liquidate their underlying spot positions.

This launch is part of a sweeping interoperability rollout that Hex Trust initiated late last year, with future expansions targeting other networks, including Ethereum and layer-2 network Optimism.

The Solana launch extended XRP into a part of the market where trading, liquidity provision, and collateral use are more active than on the XRP Ledger itself.

That does not change XRP’s core role in payments and settlement, but it does broaden the token’s role within crypto infrastructure.

Notably, Ripple has been leaning into that broader institutional pitch over the past year. The crypto payments firm has linked XRP demand to a broader stack built around custody, prime brokerage, payments, and the XRPL's settlement functions.

As Ripple CEO Brad Garlinghouse stated:

“Demand for XRP keeps growing. More access, more ecosystems, more utility.”

US-Iran sends geopolitical shockwaves

The accelerated pace of these developments initially coincided with easing expectations surrounding the US-Iran conflict, but the geopolitical baseline remains exceptionally volatile.

Market sentiment was jolted following reports that US naval forces fired upon and seized an Iranian cargo ship in the Gulf of Oman, marking a drastic escalation in the region's naval standoff.

President Donald Trump confirmed the military action, stating that the vessel was given “fair warning to stop” while attempting to bypass a US blockade of Iranian ports. Trump stated on Truth Social:

“The Iranian crew refused to listen, so our Navy ship stopped them right in their tracks by blowing a hole in the engineroom. Right now, U.S. Marines have custody of the vessel. The TOUSKA is under U.S. Treasury Sanctions because of their prior history of illegal activity. We have full custody of the ship, and are seeing what’s on board!”

The incident is deeply intertwined with the ongoing crisis in the Strait of Hormuz.

The vital shipping artery was briefly opened on April 17 under strict Iranian conditions requiring commercial vessels to obtain authorization from Iran's Ports and Maritime Organization and the Islamic Revolutionary Guard Corps (IRGC) to transit through designated safe lanes.

However, as the US maintained its broader shipping blockade of Iranian ports, Tehran once more closed the Strait on April 18.

This naval brinkmanship has pushed global markets into a tense countdown toward an April 22 ceasefire deadline.

Furthermore, there has been increased uncertainty about Iran’s willingness to participate in forthcoming diplomatic talks in Islamabad, keeping risk-asset managers on high alert.

For the crypto sector, these geopolitical developments and the looming threat of retaliatory strikes are acting as a double-edged sword: introducing severe near-term volatility while simultaneously reinforcing the narrative of decentralized assets as a hedge against sovereign supply chain shocks.

The post Wall Street moves beyond the Bitcoin ETF trade as XRP leads altcoins on fragile macro relief appeared first on CryptoSlate.

Publicly listed Bitcoin miners liquidated more than 32,000 Bitcoin during the first quarter of 2026, marking a record sell-off as the industry's largest operators redirect billions in capital toward artificial intelligence.

This historic shift is unfolding precisely as the economics of Bitcoin validation reach a critical pressure point.

With mining profitability hovering near cyclical lows, weighted production costs surging, and network hashrate showing persistent signs of strain, the infrastructure giants that defined the last crypto boom are fundamentally reengineering their business models.

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Public BTC miners turn to the balance sheet

The sheer magnitude of the first-quarter liquidation reflects the severity of the capital pivot.

Public mining firms unloaded more Bitcoin in the first three months of 2026 than they did throughout 2025.

To contextualize the scale of the sell-off, the Q1 offload easily surpassed the roughly 20,000 Bitcoin dumped by the industry during the chaotic Terra-Luna collapse in the second quarter of 2022.

According to on-chain data from CryptoQuant, miner reserves have steadily eroded throughout the cycle, with prominent operators now using their digital treasuries as vital liquidity engines rather than long-term strategic holdings.

The firm noted that, since the start of the current cycle, miners have recorded a net sell of 61,000 BTC. This heavy selling activity is led by Marathon Digital, which offloaded over 13,000 BTC and has since dropped out of the top three Bitcoin holders.

Other BTC miners selling their holdings include Cango, which sold 2,000 Bitcoin for roughly $143 million to extinguish Bitcoin-backed debt obligations and clear its balance sheet. Core Scientific unloaded around 1,900 Bitcoin in January to raise $175 million, while Riot Platforms sold 4,026 BTC.

Post-halving economics break the old model

The engine driving this mass exodus of capital is a broken economic model, exacerbated by the April 2024 halving, which slashed block rewards from 6.25 BTC to 3.125 BTC.

The programmatic 50% cut in block subsidies fundamentally repriced the revenue baseline for the entire sector, leaving operators highly vulnerable to market fluctuations.

Since that reduction, BTC mining economics have been defined by unrelenting downward pressure.

James Butterfill, head of research at digital asset manager CoinShares, noted that the weighted average cash cost to produce a single Bitcoin for public operators surged to nearly $80,000 in the final quarter of 2025.

Meanwhile, the revenue side of the equation continues to deteriorate. Hashprice, the metric tracking expected revenue per unit of computing power, plummeted to between $28 and $30 per petahash per second per day in Q1 2026, marking some of the lowest profitability levels on record.

With transaction fees remaining structurally weak at less than 1% of total block rewards, miners are highly dependent on spot price appreciation.

However, with Bitcoin hovering around $77,000, substantially below its cycle peak of approximately $126,000 reached in October 2025, miners are caught in a vise.

Ballooning debt burdens and massive electricity overheads are squeezing cash flow to the breaking point, forcing executives to look elsewhere for earnings.

Why Wall Street is rewarding the AI pivot

Faced with shrinking margins, pure-play operators are finding that boards of directors and institutional investors are aggressively rewarding a pivot toward AI and high-performance computing.

Unlike the volatile, spot-market nature of Bitcoin mining, AI data centers offer stable, predictable, multi-year revenue contracts with technology giants like Google, Microsoft, and Anthropic.

The equity market’s verdict has been unambiguous. Mining companies that set AI revenue targets of 80% or higher have seen their stock prices skyrocket by an average of 500% over the past two years, securing vastly superior market multiples compared to their pure-play mining peers.

Butterfill estimates that public miners could derive up to 70% of their revenues from AI by the end of this year, a steep climb from roughly 30% today.

With more than $70 billion in cumulative AI and high-performance computing contracts announced across the public mining sector, capital is no longer flowing toward next-generation ASIC replacements.

Instead, debt and equity are being funneled into data-center-style infrastructure. Operators like TeraWulf, IREN, and Cipher have taken on billions in collective debt to fund these buildouts, driven by the underlying unit economics.

While electricity accounts for roughly 40% of Bitcoin mining revenue, energy costs for AI cloud operators leasing high-powered chips are in the low single digits.

Does less Bitcoin mining investment mean less security?

The wholesale migration of computing infrastructure has ignited a sharp debate over the long-term security of the Bitcoin network.

On the one hand, the bearish thesis holds that as public miners halt reinvestments in mining hardware and commit their massive energy capacities to AI, the network’s security backbone risks hollowing out at a critical juncture.

Charles Edwards, founder of Capriole Investments, views the trend with profound alarm, noting projections that the average Bitcoin revenue share among top public miners will collapse to just 30% within three years.

He observed:

“If these numbers are even half accurate… the energy and commitment to Bitcoin is under significant threat.”

Adding cultural texture to this shift, Bitcoin researcher Paul Sztorc noted that the industry is quietly scrubbing its original roots.

According to him, dedicated mining publications have rebranded to focus on broader energy themes, and major industry conferences have swapped out mining stages for energy-focused platforms, reflecting a sector actively distancing itself from pure crypto workloads.

Yet, veterans of the protocol argue this is precisely how the system was engineered to survive.

Blockstream CEO Adam Back countered the alarmism, pointing to Bitcoin's self-adjusting difficulty mechanism. If computing power leaves, mining difficulty drops, instantly improving profit margins for the remaining operators.

Back argued:

“It's an arbitrage, with equilibrium when mining margin is the same as AI workloads.”

He also described a “positive reflexivity” in which higher margins mean surviving miners sell less Bitcoin to cover power costs.

Meanwhile, James Check, an on-chain analyst at CheckOnchain, views the transition through the lens of pure capitalism. He noted:

“Massive turnover is literally the intended design of the difficulty adjustment.”

In his view, the AI pivot is a highly rational diversification strategy for infrastructure firms that simply “buy power and compute,” noting that AI serves as a constant baseload while Bitcoin mining remains an intermittent tool to balance grid loads.

The second half of the halving cycle

As the Bitcoin network progresses through the second half of this halving epoch by recently crossing block 945,000 in April 2026, the public mining industry faces a profound identity crisis.

Hashrate Index argued that the next two years, leading up to the 2028 halving, will severely test the protocol's self-correcting mechanisms against the gravitational pull of Wall Street's AI capital.

The outstanding questions facing the market are now structural, rather than cyclical. It remains to be seen whether the spot price of Bitcoin can stage a robust enough recovery to comfortably clear the near-record cash costs of production, or if network transaction fees will permanently remain a negligible fraction of total revenue.

If the underlying spot economics do not materially improve, the market will be forced to weigh whether the current, unprecedented pace of treasury liquidations can be sustained without permanently dampening asset prices.

Furthermore, the industry must determine the baseline at which the network's computing power will stabilize definitively once the marginal players have exited the ecosystem.

Ultimately, the most pressing tension is existential. By 2027, the publicly traded companies that heavily drove the industrialization of Bitcoin validation over the past half-decade may no longer be miners in the traditional sense.

Instead, they are on track to become diversified energy and high-performance computing conglomerates, holding only residual, legacy exposure to the digital asset that originally built them.

The post Public miners dump record BTC and are pivoting to AI — is Bitcoin’s security backbone starting to hollow out? appeared first on CryptoSlate.

Bitcoin Holds Near $74K — But Momentum Is Missing

Bitcoin ($BTC) is trading around the critical $74K–$76K range, a zone that has become the most important battlefield for the market right now. Despite strong institutional inflows and major bullish headlines, price action remains muted.

This lack of reaction is telling.

While previous cycles saw Bitcoin surge on positive news, the current market shows hesitation. Buyers are present, but conviction is not. Sellers, on the other hand, are not aggressive enough to trigger a full breakdown.

👉 This creates a compression phase — and these phases rarely last long.

Institutions Are Buying — So Why Isn’t Bitcoin Moving?

Recent developments confirm heavy accumulation:

• Michael Saylor’s Strategy purchased over $2.5 billion in Bitcoin
• Major players continue expanding exposure to $BTC and $ETH
• Institutional demand remains structurally strong

Yet, Bitcoin is not breaking higher.

This divergence suggests that liquidity is being absorbed quietly. Instead of immediate price expansion, the market is building pressure beneath the surface.

👉 When price ignores bullish news, it often signals that a larger move is approaching.

The $74K Level: Support or Trap?

The $74K level is now acting as a key support zone.

• Holding above → bullish continuation scenario
• Losing it → opens the door to accelerated downside

Adding to this setup is the presence of a CME gap around $77,400, which Bitcoin has historically shown a tendency to fill. At the same time, liquidity is building below current price levels.

If $74K breaks:

• A cascade of stop losses could trigger
• Over $1B+ in leveraged positions may be liquidated
• Price could quickly revisit lower support zones

👉 This is not just a technical level — it’s a liquidity trigger.

Macro Pressure Is Controlling the Market

Bitcoin is no longer trading in isolation.

Current price action is heavily influenced by:

• Geopolitical tensions (US–Iran developments)
• Global liquidity conditions
• Risk sentiment across equities

This explains why Bitcoin is:

• Not rallying on bullish crypto news
• Reacting to macro headlines instead

👉 The “digital gold” narrative is weakening in the short term.
👉 Bitcoin is behaving more like a macro asset than a hedge.

What Happens Next? Breakout vs Breakdown Scenarios

Bullish Scenario

If Bitcoin holds above $74K and reclaims $77K:

• CME gap likely gets filled
• Momentum could accelerate toward $80K+
• Market confidence returns quickly

Bearish Scenario

If Bitcoin loses $74K:

• Liquidity below gets targeted
• Fast move toward lower support zones
• Panic selling and liquidations increase

👉 In both cases, volatility expansion is expected.

The Market Is Waiting — Not Deciding

Right now, Bitcoin is not trending — it’s waiting.

• Institutions are accumulating
• Retail is cautious
• Macro uncertainty remains high

This creates a rare setup where:
👉 The next move will likely be sharp, fast, and decisive

The $74K level is not just another support —
it is the line that separates continuation from correction.

Conclusion: One Level, One Decision

Bitcoin is approaching a defining moment.

Despite strong fundamentals and institutional demand, price remains trapped in a narrow range. This tension cannot last.

👉 A breakout above resistance could reignite the bullish trend
👉 A breakdown below $74K could trigger a deeper correction

For traders and investors alike, this is the level to watch.

DeFi Crash: The rsETH Contagion

Confidence in the Decentralized Finance (DeFi) ecosystem has plummeted to an all-time low following a cascading series of security failures. What began as a targeted exploit on Kelp DAO’s rsETH (Liquid Restaked ETH) has rippled through the industry’s most trusted protocols, most notably Aave, the world’s largest lending market.

The incident has reignited a fierce debate over the risks of "DeFi composability"—the practice of layering different protocols on top of one another. Critics argue that a simple Ethereum deposit should not be vulnerable to the failure of a complex, cross-chain restaking bridge.

Aave and LayerZero: What Happened?

The crisis was triggered by a sophisticated exploit targeting the bridge infrastructure of rsETH. According to forensic reports, the attacker—widely identified as the North Korean state-sponsored Lazarus Group (DPRK)—executed a multi-stage attack on LayerZero’s Decentralized Verifier Network (DVN).

The Anatomy of the Exploit

Contrary to initial speculation that the DVN itself was compromised, the attackers targeted the RPC (Remote Procedure Call) nodes that the DVN relied on for data.

1. The Lure: Attackers identified two specific RPCs used by the DVN.
2. The Sabotage: A Distributed Denial of Service (DDoS) attack was launched against the DVN’s primary, healthy RPCs.
3. The Deception: This forced the system to fail over to the two compromised RPCs. These malicious nodes served accurate data to the public but fed fraudulent state information to the DVN, bypassing traditional security safeguards.

Impact on Aave: Frozen Markets and Bad Debt

The exploit allowed the attacker to mint fraudulent rsETH and deposit it into Aave to drain approximately $300 million in ETH. This sudden exodus of liquidity caused a "Whale Panic," with figures like Justin Sun reportedly withdrawing over $150 million in a single transaction.

Current Protocol Status

In an official statement, Aave confirmed that rsETH is now frozen across Aave V3 and V4. Additionally, WETH reserves remain frozen on several networks, including Ethereum mainnet, Arbitrum, Base, Mantle, and Linea, to prevent further contagion.

• Utilization Crisis: Lending rates for ETH spiked to 10-15% as utilization hit 100%.
• Liquidity Lock: Many lenders are currently unable to withdraw their assets because all available ETH in the pool is technically "borrowed."

Is the Debt Recoverable?

Aave’s official analysis suggests that rsETH on the Ethereum mainnet remains fully backed, and the exposure has been capped. However, the market remains skeptical. The "bad debt" looming over the protocol remains a primary concern for crypto news analysts. Until it is clear who will bear the brunt of the $300 million hole, trust in the "money lego" architecture of DeFi will remain suppressed.

For those looking to secure their remaining assets, diversifying into hardware wallets or reviewing top exchange comparisons for safer exit ramps has become a priority for many retail users.

Return to Pristine Collateral

The fallout from this incident suggests a shift in investor sentiment. There is an increasing demand for a "return to basics"—using pristine collateral like Bitcoin or native ETH rather than complex derivative products. While LayerZero has restored its DVN services, the industry now faces weeks of introspection regarding RPC security and the dangers of single-point-of-failure configurations.

What Is Happening in the Crypto Market Right Now?

The crypto market is entering a phase of tight compression, where price action looks stable on the surface—but pressure is building underneath.

Bitcoin is holding around the $74,000 level, showing resilience despite negative headlines. Ethereum, meanwhile, is hovering near key support zones, with no clear breakout direction yet.

At the same time, traditional markets are sending a very different signal. U.S. equities are pushing toward new all-time highs, absorbing liquidity and attention, while crypto lags behind.

👉 This divergence is critical.
It suggests that crypto is not weak—it is waiting.

The $90M Ethereum Whale Bet: Confidence or a Trap?

One of the most striking developments comes from a large Ethereum position:

• A whale opened a $90.8 million long on ETH
• Using 20x leverage
• Liquidation level near $1,392

This kind of positioning is not noise—it’s a statement.

What it could mean:

• Strong conviction that ETH is near a bottom
• Expectation of a sharp upside move
• Or a high-risk play in a low-volatility environment

But there’s another side to this.

👉 High leverage positions often appear before major volatility spikes, not during calm trends.

This raises a key question:
Is the whale early—or is this liquidity bait?

Geopolitical Tensions: The Silent Market Trigger

Beyond charts and trades, macro events are quietly escalating.

Recent developments around U.S. naval actions and tensions in the Middle East are adding a layer of uncertainty across global markets. Historically, such events act as volatility catalysts rather than directional signals.

Crypto reacts fast to these shocks because it sits at the intersection of:

• Risk assets
• Global liquidity flows
• Investor sentiment

👉 Any escalation could trigger:

• A sudden risk-off move (crypto drop)
• Or a flight to alternative assets (crypto spike)

Right now, the market is pricing uncertainty—but not panic.

Bitcoin Holding $74K: Strength or Exhaustion?

Bitcoin’s current position is deceptively important.

• Price remains near key support around $74K
• Selling pressure is present, but not dominant
• Momentum is slowing across lower timeframes

This creates a neutral zone, where both bulls and bears are waiting.

Two possible scenarios:

• Bullish: Support holds → breakout toward higher resistance levels
• Bearish: Support breaks → fast move downward due to liquidity gaps

👉 The longer Bitcoin stays in this range, the stronger the eventual move becomes.

Stocks vs Crypto: A Growing Disconnect

Another key signal is the widening gap between traditional markets and crypto.

• U.S. stocks are pushing higher
• Crypto is consolidating or slightly declining

This is not typical in strong bullish environments.

What it suggests:

• Liquidity is rotating into equities
• Institutional focus is temporarily elsewhere
• Crypto is being left behind—temporarily

But this type of divergence rarely lasts.

👉 When capital rotates back, crypto tends to move faster and more aggressively than traditional assets.

Why the Real Move Hasn’t Started Yet

All current signals point to one conclusion:

👉 The market is not trending—it is compressing.

You have:

• Large leveraged positions building
• Macro tension increasing
• Bitcoin holding but not rallying
• Capital rotating unevenly

This combination typically precedes a liquidity event.

Not a slow move.
A fast, decisive one.

What to Watch Next

Instead of reacting to noise, focus on the triggers:

• Bitcoin holding or losing the $74K level
• Ethereum reacting to whale positioning
• Any escalation in geopolitical tensions
• Rotation of liquidity back into crypto

These are the signals that will define the next move.

Conclusion: A Market Waiting to Explode

Crypto right now is like a coiled spring.

Nothing dramatic is happening—yet.
But everything is aligning for a major shift.

The presence of high leverage, macro uncertainty, and diverging markets creates one clear expectation:

👉 Volatility is coming.

The only question is direction.

Ethereum Price Analysis: What the Chart Shows Right Now

Ethereum is trading around the $2,330–$2,350 zone, sitting directly on a strong support level that has been tested multiple times. This area is clearly acting as a short-term decision point for the market.

The key structure is tightening between nearby resistance and deeper support:

• Resistance sits around $2,417 – $2,450
• Immediate support holds at $2,300
• Lower supports extend toward $2,179 and $2,066

The recent failure to hold above $2,400 signals that bullish momentum is fading, with price starting to form lower highs in the short term.

Trend Breakdown: From Breakout to Cooling Phase

$Ethereum previously surged from the $2,200 region to nearly $2,450 in a strong breakout move. That rally, however, quickly met selling pressure at the top, leading to a gradual slowdown.

Since then, price has slipped below short-term moving averages, which are now flattening. This shift doesn’t confirm a full trend reversal yet, but it clearly shows that the market has entered a cooling and consolidation phase rather than continuation.

RSI Signals: A Bounce, But Not a Reversal Yet

The RSI is currently near 34, hovering just above oversold territory. It recently dipped lower and is now attempting a small recovery, which often hints at a potential short-term bounce.

Still, the signal remains weak:

• No clear bullish divergence has formed
• Momentum recovery is limited

This suggests that while a bounce is possible, it may not be strong enough to immediately reverse the trend.

Key Levels to Watch

Ethereum is sitting at a critical support zone around $2,300, and the reaction here will likely define the next move.

If buyers defend this level, the recovery path becomes clearer:

• First target: $2,360
• Then: $2,417
• Breakout zone: $2,450+

A move above $2,450 would shift momentum back in favor of bulls and open the path toward $2,500.

On the flip side, if this support breaks, the downside could accelerate quickly:

• First drop toward $2,179
• Then deeper into $2,066 – $2,030

Market Structure: A Transition Phase

The chart reflects a classic post-rally structure. After a strong upward move, $ETH entered a distribution phase, followed by a gradual decline toward support.

This type of structure often leads to a decisive move once compression ends. Right now, price is caught between holding support and breaking down, making this a make-or-break zone for the short term.

Ethereum Price Prediction (Short-Term Outlook)

The most likely scenario is continued consolidation between $2,300 and $2,400 as the market builds momentum.

• Bullish case: Hold support → reclaim $2,417 → target $2,450–$2,500
• Bearish case: Lose $2,300 → drop toward $2,180–$2,060

The breakout from this range will likely be sharp, as volatility is currently compressing.

Crypto News: What Just Moved the Market

The latest crypto news cycle has been dominated by one key reality: macro events are now driving crypto more than crypto itself.

Over the past days, markets reacted sharply to geopolitical tensions in the Middle East. Oil prices surged, risk assets dropped, and crypto followed.

Bitcoin briefly lost momentum as fear spread across global markets — but quickly rebounded once de-escalation signals appeared. At the same time, something more important happened behind the scenes:

Institutional money continues to flow into crypto.

Large inflows into Bitcoin, combined with growing involvement from traditional finance players, are supporting prices even during macro uncertainty.

This combination is critical:

• Short-term volatility driven by headlines
• Long-term strength driven by institutional demand

This is exactly why the next move could be explosive.

Why Bitcoin Is at a Critical Level Right Now

Bitcoin is currently trading near a key resistance zone.

This level has acted as a barrier multiple times, and the market is now testing it again under very different conditions:

• Stronger institutional backing
• Higher macro uncertainty
• Increased liquidity sensitivity

If Bitcoin breaks above this level, the move could accelerate quickly due to:

• Short liquidations
• Momentum traders entering
• Increased media attention

If rejected, however, a pullback or consolidation phase is likely.

👉 In both scenarios, volatility is expected to increase.

Crypto News Alert: 3 Events That Could Move Bitcoin Next

1. U.S. Regulation Developments

Crypto regulation remains one of the most powerful catalysts for price action.

Any progress in U.S. legislation could:

• Unlock new institutional capital
• Improve market confidence
• Drive long-term adoption

On the other hand, delays or negative signals could slow momentum.

👉 This is a high-impact, long-term trigger.

2. Federal Reserve & Liquidity Shifts

Bitcoin is now highly sensitive to macro liquidity conditions.

Key drivers to watch:

• Interest rate decisions
• Inflation data (CPI, PPI)
• Market expectations for rate cuts

If liquidity increases, crypto typically benefits.
If conditions tighten, pressure returns quickly.

👉 This is the most powerful short-term driver.

3. Geopolitical Tensions & Oil Prices

Recent crypto news made one thing clear:

Markets are reacting instantly to geopolitical headlines.

Rising tensions → risk-off → crypto drops
De-escalation → risk-on → crypto rebounds

Oil prices are a key indicator here, as they directly impact inflation and global sentiment.

👉 This is the most unpredictable but fastest-moving catalyst.

Reabold Resources faced criticism for plans to use a gas field to mine Bitcoin, but said serving U.K. energy demand remains its main focus.

A weekend post summarizing ideas from CEO Alex Karp’s 2025 book reignites debate over Silicon Valley’s role in warfare and national defense.

Prediction markets suggest Strait of Hormuz traffic will not return to normal any time soon, and oil traders expect higher prices.

French streaming service Deezer says AI-generated music now accounts for nearly half of new uploads—but actual listening remains minimal.

RaveDAO's token cratered this weekend after blockchain sleuth ZachXBT called on exchanges to investigate trading tied to its surging token.

After 15 years at the helm, the crypto-owning executive will become Executive Chairman, passing the torch to hardware veteran John Ternus.

Early Uber investor and venture capitalist Jason Calacanis has sparked a heated debate over Bitcoin’s true market value.

Ripple has unveiled a comprehensive four-phase roadmap designed to make the XRP Ledger (XRPL) fully quantum-resistant by 2028.

Bitmine now controls 4.12% of the Ethereum supply, powering Wall Street's AI nodes. BMNR holds 4.97 million ETH as the top institutional validator.

With Bitcoin ETFs surpassing a historic $101 billion, experts Nate Geraci and Eric Balchunas clash over Vanguard's refusal to launch a native crypto product.

TLDR

• Coinbase has launched crypto-backed USDC loans for users in the United Kingdom through Morpho on Base.
• UK customers can borrow USDC against Bitcoin, Ethereum, and cbETH without selling their holdings.
• The platform allows loans to be issued in under one minute, and funds can be used onchain or converted to fiat.
• Coinbase offers Bitcoin-backed loans up to $5 million USDC, depending on the collateral pledged.
• Interest rates remain variable and update with Base block production instead of following a fixed schedule.

Coinbase has introduced crypto-backed USDC loans for customers in the United Kingdom. The company allows users to borrow against Bitcoin, Ethereum, and cbETH without selling assets. It powers the product through Morpho on Base and issues loans in under one minute.

Coinbase and Morpho Expand USDC Lending to the UK

Coinbase rolled out the borrowing service after expanding its US product earlier this year. The company routes all loans through Morpho’s onchain lending infrastructure on Base. As a result, users access open market liquidity instead of a traditional internal loan book.

The platform allows customers to borrow USDC against pledged crypto assets. Coinbase said borrowers can use funds onchain or convert them into fiat for spending. The company confirmed that interest rates remain variable and update with Base block production.

Coinbase reported that total loan originations through Morpho exceeded $2.17 billion USDC as of April 14, 2026. The figure reflects activity before the product’s first international launch. Morpho described the integration as “one of the largest DeFi distribution moves to date.”

Bitcoin, Ethereum, and cbETH Back UK Borrowing

The UK version supports Bitcoin, Ethereum, and cbETH as eligible collateral. Coinbase offers Bitcoin-backed loans up to $5 million USDC, depending on pledged assets. The company applies variable interest rates determined by onchain markets.

Borrowers do not face a fixed repayment schedule under the current structure. However, the system can liquidate positions if loan value rises too high against collateral. Coinbase stated that rates adjust automatically with each new Base block.

The company launched its US borrowing product in January 2025. At that time, eligible US customers could borrow USDC against Bitcoin through Morpho. The company structured those loans with variable rates set by onchain supply and demand.

Coinbase said the UK expansion aligns with its broader consumer finance plans. Over the past year, the company secured UK VASP registration from the Financial Conduct Authority. It also introduced a GBP savings account in partnership with ClearBank.

The company expanded decentralized exchange trading access for British customers during the same period. Now, it adds borrowing as another feature for UK users. Coinbase aims to convert idle crypto balances into accessible liquidity.

The product operates fully on Morpho’s decentralized lending framework. Coinbase connects customers directly to liquidity pools on Base. Therefore, the company avoids maintaining its own lending inventory.

Coinbase confirmed that loans can be issued in less than one minute. Users can draw USDC immediately after pledging collateral. The company stated that the process runs entirely through smart contracts on Base.

Coinbase continues to monitor loan originations across supported markets. As of April 14, 2026, total originations surpassed $2.17 billion USDC. The UK launch marks the company’s first expansion of the Morpho-powered borrowing product outside the United States.

The post Coinbase Expands Morpho Powered USDC Loans to UK appeared first on Blockonomi.

TLDR

• The NSA reportedly used Anthropic’s Mythos Preview despite a Pentagon supply chain risk designation.
• Axios cited sources who confirmed the NSA accessed the model after the restriction.
• The Pentagon labeled Anthropic a supply chain risk in March over safeguard disputes.
• The dispute involved Anthropic’s refusal to loosen controls tied to autonomous weapons and surveillance.
• Anthropic limited Mythos Preview access to about 40 organizations due to offensive cyber capabilities.

The National Security Agency has used Anthropic’s Mythos Preview despite a Pentagon supply chain risk designation. Axios cited multiple sources who confirmed the agency’s access to the model. The report shows internal differences across federal departments over Anthropic technology use.

Anthropic Model Access Expands Inside NSA

Axios reported that two sources confirmed NSA use of Mythos Preview. One source said the department expanded usage beyond limited internal testing.

However, the Pentagon designated Anthropic as a supply chain risk in March. The designation restricted the company’s technology in military contracts after a policy dispute.

The dispute centered on Anthropic’s refusal to loosen safeguards. The company declined to adjust controls linked to autonomous weapons and domestic surveillance systems.

As a result, the Pentagon limited procurement pathways for Anthropic products. Still, Axios reported that the NSA accessed Mythos through existing channels.

The report did not explain the technical route used for access. However, it confirmed that usage occurred after the risk designation.

Axios stated that it remains unclear how the NSA deployed the model. Yet, other authorized organizations have used Mythos to scan systems for vulnerabilities.

Anthropic limited Mythos Preview access to about 40 organizations. The company restricted access because of the model’s offensive cyber capabilities.

Sources told Axios that the NSA relied on the model’s security testing features. They did not describe operational outcomes or contract values.

The report did not state whether the NSA violated formal procurement rules. It also did not clarify if the usage involved classified systems.

White House Engages Anthropic Leadership

The White House has explored options to work with Anthropic despite the ongoing court dispute. Axios reported that discussions took place at senior levels.

Anthropic CEO Dario Amodei met White House Chief of Staff Susie Wiles. He also met Treasury Secretary Scott Bessent to discuss government usage.

Axios reported that Amodei addressed Mythos access and broader security practices. The outlet cited a source familiar with the meeting.

The meeting occurred while the court fight over the Pentagon designation continued. However, officials have not announced any policy change.

The White House did not publicly outline next steps. Still, the talks showed active engagement with Anthropic leadership.

Anthropic has defended its safeguards in previous statements. The company has said it maintains strict controls over high-risk applications.

Pentagon officials have not rescinded the supply chain risk designation. Therefore, formal contract limits remain in place.

Axios reported that agency-level adoption may differ from procurement policy. However, it did not provide internal compliance details.

The post NSA Accesses Anthropic Model After Pentagon Blacklist appeared first on Blockonomi.

TLDR

• U.S. spot Bitcoin ETFs recorded $996.4 million in net inflows last week, marking the strongest weekly intake since mid-January.
• The three-week inflow streak added more than $1.8 billion and pushed year-to-date flows above $1 billion.
• BlackRock’s IBIT led weekly inflows with $906 million, capturing the majority of new allocations.
• Morgan Stanley’s MSBT posted $71 million in inflows during its first full trading week after launch.
• Ethereum spot ETFs recorded $275.8 million in net inflows over the same period.

U.S. spot Bitcoin ETFs attracted $996.4 million in net inflows last week, marking the strongest intake since mid-January. The three-week streak pushed total additions above $1.8 billion and lifted year-to-date flows past $1 billion. Cumulative net flows now stand near $58 billion, closing the gap with the $62.8 billion peak.

Bitcoin ETFs Draw Fresh Capital as Weekly Inflows Surge

U.S. spot Bitcoin ETFs extended their inflow streak for a third straight week as capital returned to the sector. The products recorded $996.4 million in net inflows, according to market data. This weekly total marked the highest level since mid-January and reversed earlier redemptions.

BlackRock’s IBIT led weekly issuance with $906 million in net inflows. Meanwhile, Morgan Stanley’s MSBT recorded $71 million during its first full trading week after its April 8 launch. Ethereum spot ETFs also reported $275.8 million in net inflows over the same period.

Morgan Stanley’s MSBT posted $116 million in net inflows during its first week on the market. The fund carries a 0.14% fee and competes in a crowded ETF segment. The firm manages $1.9 trillion in assets, according to public disclosures.

Accumulation Pace Lifts Cumulative Flows Toward Peak

ETF issuers purchased 8,572 BTC on Friday alone as demand accelerated. Over ten days, net accumulation reached 24,197 BTC across U.S. products. Total ETF holdings now sit 3.71% below the October 10, 2025 peak.

Cumulative net flows across spot Bitcoin ETFs approach $58 billion. The category reached a peak of $62.8 billion before recent volatility. The current gap between cumulative and peak flows stands near $5 billion.

Market data shows that ETF demand absorbs a large share of newly mined bitcoin supply. Mining issuance remains limited compared with ETF accumulation rates. This imbalance continues to shape liquidity across spot trading venues.

Flow concentration remains visible across larger products. IBIT captures the majority of weekly allocations within the category. Smaller funds report uneven participation, although MSBT recorded early traction.

Price trends continue to align with ETF flow regimes. Periods of inflows often coincide with stronger bid support in spot markets. Conversely, redemption phases reduce demand absorption across exchanges.

Global exchange-traded products reflect a similar direction in cumulative demand. Institutional allocators continue to add exposure through regulated vehicles. ETF holdings remain close to record levels despite recent price declines.

The post Spot Bitcoin ETFs Add $996M as Flows Near Record High appeared first on Blockonomi.

TLDR

• Strategy purchased 34,164 BTC for about $2.54 billion at an average price of $74,395 per coin.
• MSTR stock fell more than 2.5% in pre-market trading after the announcement.
• The company now holds 815,061 BTC acquired for about $61.56 billion.
• Strategy funded the purchase through preferred and common stock sales.
• Michael Saylor said the company achieved a 9.5% BTC yield year-to-date in 2026.

Strategy expanded its Bitcoin holdings with a $2.54 billion purchase, yet MSTR stock fell in pre-market trading. The company disclosed that it acquired 34,164 BTC at an average price of $74,395 per coin. However, shares declined more than 2.5%, even as the firm increased its treasury reserve.

Strategy Inc, MSTR

Bitcoin Purchase Expands Corporate Treasury

Strategy confirmed in a Form 8-K filing with the U.S. Securities and Exchange Commission that it completed the acquisition last week. The company funded the transaction through capital raised from its at-the-market equity programs. As a result, Strategy increased its total Bitcoin holdings to 815,061 BTC.

Michael Saylor announced the purchase on X and stated that the company achieved a 9.5% BTC yield year-to-date in 2026. He said Strategy acquired its total holdings for about $61.56 billion at an average price of $75,527 per Bitcoin. Therefore, the company’s cost basis stands close to current Bitcoin prices in the mid-$75,000 range.

Strategy reported that it raised $2,542.3 million during the reporting period. It generated $2,176.3 million in net proceeds from selling 21,795,389 shares of STRC preferred stock. It also secured $366.0 million from issuing 2,165,000 shares of Class A common stock.

The company stated that it still holds $19,463.0 million in remaining STRC issuance capacity. It also listed $26,729.7 million available under common stock offerings. Consequently, Strategy retains room to pursue further Bitcoin acquisitions using equity markets.

MSTR Stock Reacts to Funding Structure

MSTR stock declined more than 2.5% in pre-market trading following the disclosure. The drop occurred despite the company expanding its Bitcoin reserve by over 34,000 BTC in one week. Market participants assessed the impact of ongoing share issuance on existing shareholders.

Peter Schiff criticized the financing approach and said the model could lead to continued shareholder dilution. He pointed to preferred shares carrying an 11.5% yield as part of the capital structure. He stated that Strategy “is moving toward more expensive forms of capital.”

Strategy’s dashboard showed a BTC reserve value of $58,756 million based on internal metrics. The company reported Bitcoin per share at 205,812 sats and an mNAV ratio of 1.28. It also listed $8,254 million in debt and a net leverage ratio of 10%.

The company disclosed annual dividend obligations of $1,237 million tied to preferred stock. It reported 47.5 years of dividend coverage based on its current Bitcoin holdings. The latest filing confirmed that capital markets remain the primary funding source for ongoing Bitcoin purchases.

The post MSTR Stock Slips After Strategy’s $2.54B Bitcoin Buy appeared first on Blockonomi.

TLDR

• Revolut CEO Nik Storonsky said the company will not pursue an IPO before 2028.
• He confirmed that the public listing remains at least two years away.
• Revolut recently secured its full UK banking license after a five-year regulatory process.
• The company has applied again for a US bank charter to access Federal Reserve payments.
• The US license would allow Revolut to offer loans and credit cards directly to customers.

Revolut will not pursue a public listing before 2028, according to Chief Executive Nik Storonsky. He confirmed that the company plans to stay private for at least two more years. Meanwhile, Revolut continues to expand its banking footprint in the United States and the United Kingdom.

Revolut Delays IPO While Strengthening Banking Credentials

Nik Storonsky addressed the company’s listing plans during an interview with David Rubenstein. He said an initial public offering remains “at least two years away,” and he confirmed that the timeline has not changed. Therefore, any potential market debut would take place in 2028.

He stated that the company does not face pressure to accelerate the listing process. Instead, management plans to focus on operations and regulatory progress. Storonsky also said that as a bank, “it’s super important to have trust,” and he linked that goal to long-term planning.

Revolut secured its full UK banking license after a five-year regulatory process. The approval allows the company to operate as a fully licensed bank in its home market. As a result, it can expand traditional banking services under direct supervision.

The firm also renewed efforts in the United States. Last month, it applied for a US bank license that would provide Federal Reserve payment access. That charter would also allow the company to issue loans and credit cards directly to American customers.

Secondary Sales and Financial Growth Support Private Runway

Before pursuing an IPO, Revolut plans to consider more secondary share sales. The company uses these transactions to provide liquidity to employees and early investors. It typically conducts a secondary offering every one to two years.

The most recent secondary sale closed in November at a $75 billion valuation. That figure rose from $45 billion recorded a year earlier. Bloomberg reported in February that the company may consider another secondary transaction in 2026.

Nvidia and Coatue Management rank among Revolut’s leading backers. These investors supported the company during recent funding rounds. However, management continues to prioritize private market flexibility over immediate public exposure.

Revolut reported about $6 billion in revenue for 2025. Profits climbed 57% year over year to nearly $2.3 billion. The company marked its fifth consecutive profitable year.

It ended 2025 with more than 68 million customers across 40 markets. The platform also offers trading access to over 300 digital tokens. This feature places Revolut among the more crypto-friendly banking platforms in Europe.

Storonsky reiterated that trust remains central to the company’s strategy. He emphasized operational strength before any public listing. The company continues to evaluate secondary share options as it targets a potential IPO in 2028.

The post Revolut Delays IPO to 2028 as US Charter Effort Continues appeared first on Blockonomi.

The largest meme coin by market capitalization has rebounded 4% over the past week, with some analysts expecting the uptrend to continue in the short term.

Some key on-chain metrics support the bullish outlook, yet traders and investors should tread lightly, as market conditions remain unstable due to ongoing geopolitical tensions and other factors.

How High Can DOGE Go?

During the Friday market-wide price resurgence, Dogecoin briefly surpassed $0.10, but it currently trades around $0.09. Its market capitalization hovers at approximately $14.6 billion, making it the undisputed leader in the meme coin realm and the 10th-biggest cryptocurrency.

According to some analysts, such as X user Don, the token has significant upside potential. They noted that DOGE has been trading above a certain support zone since 2021, setting the next critical resistance at $0.40. The market observer believes that a rise to such a dimension could open the door to $1.

Other analysts who recently chipped in include Mikybull Crypto and Cryptollica. The former argued that DOGE looks “so primed for a big move,” while the latter envisioned a possible explosion to a new all-time high of $1.60.

The recent whale activity reinforces the optimistic scenario. The renowned analyst Ali Martinez revealed last week that large investors had purchased 330 million DOGE in a few days. The development shows their strong conviction in the asset and could prompt retail investors to mimic the big players’ move.

Other Bullish Factors

Earlier this month, spot DOGE ETFs finally attracted capital, indicating that institutional investors have renewed some interest in the meme coin.

The first such product in the USA went live in November last year, launched by Grayscale, while Bitwise and 21Shares followed shortly after. The cumulative net inflow into those financial vehicles remains below $10 million, which is nothing compared to the massive demand for spot BTC, ETH, and XRP ETFs. Those products with Ethereum as an underlying asset, for instance, have witnessed a 7-day green streak: something last seen in October 2025.

The recent Dogecoin exchange netflow is also worth monitoring. Over the past weeks, outflows have dominated inflows, signaling that investors have been abandoning centralized platforms and moving toward self-custody methods. This is considered bullish since it reduces immediate selling pressure.

The post Top Dogecoin (DOGE) Price Predictions as of Late appeared first on CryptoPotato.

Investment products linked to digital assets recorded $1.4 billion in inflows, the largest weekly amount since January and the third straight week of positive movement. CoinShares explained that the trend is likely due to stronger risk appetite during US-Iran ceasefire extension talks and Bitcoin’s rise above $76,000 mid-week, its highest level since the February crash.

March CPI reached 3.3% year-on-year, but markets focused on core CPI at 2.6%, which suggested that inflation remains limited and driven by supply-side factors.

Ceasefire Optimism and BTC Breakout

According to the latest report by CoinShares’ Digital Asset Fund Flows Weekly Report, Bitcoin attracted $1,116 million over the past week, which pushed its year-to-date total to $3.1 billion. The asset manager said that Bitcoin’s rally was a “meaningful technical development” after nearly two months of sideways price action. Products betting against Bitcoin saw a small $1.4 million inflow, which indicated that there was some remaining but limited demand for downside protection.

Ethereum brought in $328 million during the same period – its strongest weekly result since January. The latest inflows lifted its yearly total to $197 million. Among altcoins, Chainlink added $5.3 million, and Sui secured $2.2 million, while multi-asset offerings gained $2.6 million.

On the other hand, XRP and Solana saw capital leave, with declines of $56 million and $2.3 million, respectively.

By region, the United States led activity with $1.5 billion last week. Germany also posted $28 million in additions, followed by Canada with $8.3 million, and Sweden with $3.1 million. Hong Kong also raked in $3 million in inflows, whereas Switzerland bucked the positive trend with $138 million in outflows.

Market Fragility

As the narrative of de-escalation in Iran shifted abruptly over the weekend, Bitcoin temporarily fell below $74,000 before modestly recovering on Monday. According to QCP Capital, markets are struggling to anchor on a clear direction, and price action is reacting to headlines rather than structural changes. Volatility remains low despite the decline, which means that expectations are tilting toward episodic disruptions. For now, QCP’s base case points to range-bound movement for the crypto asset, with no decisive breakout expected.

“In effect, markets are beginning to price duration rather than intensity, pointing to a conflict that may be more protracted than initially assumed, but still contained within current bounds.”

The post $1.4B Flows Into Crypto Funds in Biggest Weekly Total Since Early Year appeared first on CryptoPotato.

The fallout from the $293 million KelpDAO exploit over the weekend has spread across the DeFi ecosystem, with Total Value Locked (TVL) across several chains dropping significantly in the last 24 hours.

According to data from on-chain analytics platform DeFiLlama, at least 126 of the networks it tracks were in the red, with CosmoHub the hardest hit, having lost more than 1,500% of its TVL in that period.

A Broad-Based Retreat Across Major Chains

Pseudonymous analyst Vet brought attention to the decline, writing in a post on X that TVL was going down on all the top 20 DeFi chains. “Money is exiting,” they noted, adding that people were “repricing the risk/reward.”

Indeed, when CryptoPotato checked the data, we found that the pullback was widespread, although the scale varied. For example, Ethereum, the largest DeFi chain with more than 1,700 protocols, posted a 24-hour TVL dip of nearly 11%. Its nearest rival, Solana, fared relatively better, going down by just over 4% in the last day, although the change was more noticeable across one month, at 19.06%.

Arbitrum, Base, and Avalanche also saw their TVL dip by 9.97%, 5.76%, and 6.61%, respectively, while Bitcoin, Tron, and BSC were the least affected among the top ten chains by TVL, with none of them taking a hit bigger than 1.6%. Meanwhile, in that group, Hyperliquid was the worst hit, shedding more than 12% of the total value of assets it held and taking its dollar worth to $1.44 billion.

Outside the top 10, the losses were sharper, with Mantle, which DeFiLlama co-founder 0xngmi flagged as one of those most exposed to bad debt after the hack, alongside Base and Arbitrum, down almost 42%. Others that were heavily hit included Taiko, which lost 22% of its TVL; Monad, which went down 13.21% in 24 hours; and Berachain, which dipped by over 17%.

Other Chains Made Gains

The flight from risk did not reach every corner, though, with some smaller chains posting gains. One of them, Q Protocol, jumped 477% in 24 hours, with Oasys and Shibarium also in the green, gaining 90.6% and 85%, respectively.

The KelpDAO hack is the worst security breach in the DeFi space so far this year. Reports say that the liquid restaking protocol lost over $293 million after an attacker took advantage of its bridge contract. LayerZero has since said that the Lazarus Group’s TraderTraitor unit was behind the attack.

The post DeFi TVL Plummets Across Top Chains After KelpDAO Hack appeared first on CryptoPotato.

Running from April 17 to May 8, 2026, the campaign supports both followers and experienced Lead Traders. This month features a record 15 USDT entry bonus for registration, the highest starting incentive in the series to date.

Deeper Dive in April’s Challenge

The April challenge departs from randomized lucky draws to focus on streak-building. Participants earn escalating rewards for maintaining an active market presence over two, five, seven, and ten consecutive days. To lower entry barriers, Toobit has also implemented a safety net covering 20% to 100% of a first copy trade loss, capped at 100 USDT in Trial Funds.

Beyond consistency, the campaign rewards participants who scale. A 25,000 USDT pool offers tiered bonuses based on volume, starting at 10 USDT for 200 USDT in volume and reaching 150 USDT for those surpassing the 30,000 USDT milestone.

Lead Traders receive similar focus. New Lead Traders earn a 50 USDT reward upon generating 500 USDT in volume, with tiered performance bonuses topping out at 1,000 USDT for those surpassing 1,000,000 USDT in total volume.

How to Participate

To participate, traders must register on the campaign page. For a comprehensive breakdown of activity tiers and eligibility requirements, full details are available on the official announcement page.

Copy trading and automated social trading protocols have seen a 42% year-over-year increase in monthly active users as of March 2026. Furthermore, exchange-led copy trading volumes now account for nearly 18% of total global futures turnover. This shift underscores a growing demand for platforms that provide structured, strategy-driven environments for retail participants.

The post Toobit Launches April $150K Copy Trading Campaign with New Streak Rewards appeared first on CryptoPotato.

Bitcoin (BTC) is trading around $75,000, about 24% higher than its recent bear-market low, thanks to a combination of institutional buying and geopolitical intrigue.

However, on-chain data show the story is more complicated, with weaker holders offloading coins and whales sending more BTC to exchanges, casting doubt on whether we are witnessing a real trend reversal or just another bear-market bounce.

Strategy’s Billions Will Not Be Enough to Break the Ceiling

According to analyst JA Maartunn, Strategy’s raising of about $2.7 billion in just two days last week was one of the biggest catalysts for the uptick in Bitcoin’s price. And today, the firm made one of its biggest BTC purchases in years, when it acquired more than 34,000 BTC for about $2.5 billion.

However, all that activity still hasn’t been enough to keep the flagship cryptocurrency above the $77,000-$78,000 range, as noted by fellow market watcher Ted Pillows.

Maartunn explained that the reason we haven’t seen prices breaking higher may be because of two groups of sellers: short-term holders (STHs), who have moved approximately 60,000 BTC to exchanges, with their SOPR reading below 1 and confirming they are selling at a loss; and whales, who have increased their exchange inflows, which is a sign that they too are distributing into the current price range.

But there is one encouraging undercurrent: over the last 30 days, the supply of Bitcoin in the hands of long-term holders (LTHs) has increased by 354,000 BTC. According to Maartunn, that accumulation means that the asset is rotating from weaker, more reactive hands into those with a longer time horizon, something he says is a stabilizing force. But even with this, combined with Strategy’s latest buy, the analyst is preaching caution.

“The key question: is it enough to push Bitcoin higher?” he wondered. “For now, this still looks like a bear market rally… But a strong breakout could quickly shift the trend.”

Geopolitics Is Adding Fuel to an Already Unstable Mix

The macro backdrop is doing little to help Bitcoin’s cause, with the asset reaching as high as $78,400 last Friday after Iran’s foreign minister announced that the Strait of Hormuz had reopened and US President Donald Trump made positive noises regarding peace talks between the two nations. However, Iran rubbished Trump’s claims, and subsequent strikes against each other caused BTC to drop below $74,000.

At the time of writing, the cryptocurrency had gone back above $75,000, representing a 6% increase in the last 7 days and nearly 9% over two weeks. However, it is still down by more than 11% on a one-year basis and still around 40% below its all-time high of over $126,000.

Meanwhile, in his assessment, Pillows said $72,000 is a key level for Bitcoin, and if it loses this, then it could retrace the entire “ceasefire pump.”

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