Cointelegraph

Bitcoin (BTC) headed to weekly lows after Tuesday’s Wall Street open as oil-supply woes panicked global markets.

Key points:

Bitcoin continues its come down from recent highs as new oil fears worsen already shaky market sentiment.

US President Donald Trump avoids hints of lifting the Strait of Hormuz blockade.

BTC price action falls below $76,000 as a week's gains evaporate.

Bitcoin, stocks extend losses on Hormuz oil nerves

Data from TradingView showed BTC/USD dipping under $76,000 as US stocks also opened lower.

BTC/USD four-hour chart. Source: Cointelegraph/TradingView

The US-Iran war lay behind risk assets’ cold feet, with oil taking center stage amid the ongoing blockade of the Strait of Hormuz.

WTI crude oil returned to $100 per barrel on the day, as US President Donald Trump continued to keep markets guessing on the outcome of the Hormuz impasse.

“Iran has just informed us that they are in a ‘State of Collapse,’” he wrote in a post on Truth Social. 

“They want us to ‘Open the Hormuz Strait,’ as soon as possible, as they try to figure out their leadership situation (Which I believe they will be able to do!).”

Source: Truth Social

Commenting, trading resource The Kobeissi Letter noted the ongoing impact on Asian countries, with Iran rapidly running out of oil storage capacity.

“Asia's energy crisis will soon intensify even further,” it predicted in a post on X.

Crypto sources also drew attention to the impact of oil on market mood, among them onchain analytics platform Glassnode.

“Disruptions in the Strait of Hormuz persist due to stalled US-Iran talks, tightening supply and spooking markets across the board,” it told X followers on the back of the WTI jump.

CFDs on US WTI crude oil four-hour chart. Source: Cointelegraph/TradingView

BTC price breakout hopes fade into monthly close

BTC price action thus continued to shy away from attacking $80,000 after sealing a weekly candle close above a key resistance trend line.

Instead, the two recent visits to $73,000 made market participants wary of calling a “double bottom” formation too early.

“So far, $BTC bulls aren't showing much enthusiasm for a robust double bottom bounce. Expecting to see volatility increase as we move to and through the monthly close,” trading resource Material Indicators commented.

An accompanying chart showed exchange order-book liquidity and whale orders, with only the largest class of investors stepping in to buy.

BTC/USDT order-book liquidity data with whale orders. Source: Material Indicators/X

Others also demanded more proof that bulls could crush the multiple resistance levels immediately above spot price, including the bear market support band.

“We'll need to see follow up to actually confirm a proper breakout though. But at least the bulls are putting in an effort for now,” trader Daan Crypto Trades wrote on X.

BTC/USD one-week chart with bull market support band, moving averages. Source: Daan Crypto Trades/X

Japan's financial, law enforcement and real estate regulators have issued a joint guidance request warning that crypto assets pose money laundering risk in property transactions.

The request, published on Tuesday, was issued by the Ministry of Land, Infrastructure, Transport and Tourism, the Financial Services Agency, the National Police Agency and the Ministry of Finance. It was addressed to major real estate and crypto industry bodies, including the Japan Cryptocurrency Business Association and several national real estate federations.

“Crypto assets, which have the nature of being transferred instantly across national borders, are considered to pose a high risk of being used as a payment method in real estate transactions for the purpose of money laundering,” the request states.

Japan sends request regarding crypto usage in property deals. Source: FSA

The multi-agency request instructed real estate agents to conduct customer due diligence on any crypto-involved transaction under Japan's Act on Prevention of Transfer of Criminal Proceeds, file suspicious transaction reports with regulators and notify police when criminal activity is suspected, bringing bank-style Anti-Money Laundering (AML) expectations into crypto property deals.

Japan warns against unregistered crypto in property deals

The request warned that converting crypto to fiat on behalf of clients may constitute “crypto asset exchange business” under the Payment Services Act, an activity that requires registration and carries legal risk if conducted without it.

It also asked crypto exchanges to watch for cases where a customer receives property sale proceeds in crypto and then attempts unusually large transactions that don't match their financial background.

Furthermore, the document reminded firms that under Japan's Foreign Exchange and Foreign Trade Act, anyone receiving crypto worth more than 30 million Japanese yen (approximately $180,000) from overseas must file a payment report with authorities.

Japan classifies crypto as financial instrument

Earlier this month, Japan amended its Financial Instruments and Exchange Act to classify crypto assets as financial instruments, moving them out of the payments category and into the same regulatory framework as traditional securities.

The change bans insider trading and other market manipulation involving undisclosed information, and requires crypto issuers to publish annual disclosures. Penalties for unregistered crypto exchanges have also been stiffened under the amendment, while the government separately backed plans late last year to cap the tax rate on crypto profits at a flat 20%.

Magazine: Will the CLARITY Act be good — or bad — for DeFi?

Ondo Finance has teamed up with financial technology giant Broadridge to give holders of tokenized stocks and exchange-traded funds (ETFs) the ability to participate in proxy voting.

Broadridge has built a Web3-enabled relay system where tokenholders connect their crypto wallet to Broadridge's ProxyVote platform, submit their voting preference, and Ondo's issuer then votes the real shares accordingly, with the entire process recorded onchain for transparency, according to a Tuesday announcement.

“By working with Broadridge, we are enabling holders of our on-chain tokenized stocks to access governance and voting capabilities, with all the additional benefits on-chain tokens provide,” Matthieu de Vergnes, global head of institutional at Ondo Finance, said.

Proxy voting is when a shareholder authorizes someone else to vote on corporate matters on their behalf. It has long been a standard feature of traditional equity ownership, but tokenized stocks have largely lacked it. The Broadridge integration addresses this gap, letting investors sign in via their crypto wallets, confirm their holdings and submit votes.

Tokenized stocks hit $1.15 billion

Tokenized stocks have surged to $1.15 billion in distributed value, up 25.46% over the past 30 days, according to data from RWA.xyz. Monthly transfer volume stands at $2.27 billion, with over 217,000 holders, up 9.26% in the last month alone.

Tesla, NVIDIA, and S&P 500-linked products are among the most prominent assets by value, alongside Circle Internet and Strategy-linked tokens.

Tokenized stocks continue to grow. Source: RWA.xyz

Ondo, which claims roughly 70% of the tokenized stock market with over $700 million in total value locked, offers its products across Solana (SOL), Ethereum (ETH) and BNB Chain (BNB). The tokens are backed by the corresponding stocks or ETFs.

Franklin Templeton, Ondo bring tokenized ETFs to crypto wallets

Last month, Franklin Templeton and Ondo Finance announced a partnership to bring tokenized versions of Franklin's ETFs onchain, giving investors access through crypto wallets rather than traditional brokerage accounts. The initial offering covers five funds spanning US equities, fixed income, and gold, available across Europe, Asia-Pacific, the Middle East and Latin America, with US access pending regulatory clarity.

Meanwhile, Binance has listed 10 tokenized assets from Ondo Global Markets on its Binance Alpha platform, including tokens tracking Apple, Nvidia and the Invesco QQQ ETF.

Magazine: Should users be allowed to bet on war and death in prediction markets?

April 27, 2026 — Changelly and Tonkeeper have teamed up to make cross-chain deposits into TON a seamless, in-wallet experience. Users can now fund their Tonkeeper wallet with USDT, USDC, or DAI from 13 decentralized networks, without leaving the app.

For Changelly users already familiar with cross-chain swaps, this extends existing functionality into direct wallet deposits. For Tonkeeper’s user base, it introduces a new way to move assets into the TON ecosystem within a single interface.

Cross-chain deposits without leaving the app

With Changelly’s infrastructure integrated into Tonkeeper, cross-chain deposits can be completed within the wallet, while routing is handled in the background.

Support spans 13 networks: Ethereum, Solana, TRON, BSC, Polygon, Arbitrum, Base, Liquid, Avalanche, NEAR, Optimism, Matic, and Tezos.

The integration removes the need to use external bridges or manage multiple interfaces when moving assets across chains, keeping the entire process within the wallet environment.

Launch campaign

To mark the integration, the companies have introduced a campaign running from April 27 to May 10, 2026. Users who deposit USDT, USDC, or DAI from any of the supported networks into Tonkeeper via the integration during this period will be eligible to enter a draw for 20 one-year subscriptions to Telegram Premium.

About Tonkeeper

Tonkeeper gives users access to TON assets and dApps, USDT on TRC20, NFTs in one wallet. Tonkeeper supports powerful features like the Battery and Gasless transactions, while Tonkeeper Pro unlocks advanced tools like multisig support.

Bitcoin miner Core Scientific plans to scale its Texas operations into a large artificial intelligence-focused data center campus with up to 1.5 gigawatts of gross power capacity.

In a Monday announcement, the company said it is developing its Pecos, Texas, site into a high-density colocation hub designed to support AI workloads amid rising demand for computing infrastructure. Of the planned capacity, about 1 GW is expected to be available for leasing.

“We continue to leverage our deep in-house expertise to differentiate how we build and scale next generation artificial intelligence infrastructure,” Adam Sullivan, CEO of Core Scientific, said.

As part of the transition, roughly 300 megawatts currently used for Bitcoin mining at the site are being repurposed for data center operations, Core Scientific said. The company added that the first data hall has completed foundational work and is moving into vertical construction, with initial capacity expected in early 2027.

Core Scientific shares are up 44% YTD. Source: Yahoo! Finance

The company has also secured an additional 300 megawatts of power under contract with its utility provider, while outlining plans for further expansion through a behind-the-meter solution.

Aside from Core Scientific, other miners are also exploring alternative revenue streams as mining margins tighten, with a focus on AI. In February, MARA Holdings acquired a 64% stake in French infrastructure company Exaion, expanding into AI services. Other miners, including Hive, Hut 8, TeraWulf and Iren, are also repurposing mining facilities into data centers.

Core Scientific acquires 200 acres

To support the buildout, Core Scientific said it has acquired more than 200 acres of land in the area.

Last week, the company also announced plans to raise $3.3 billion through senior secured notes due 2031 to fund data center expansion across Georgia, Texas, North Carolina and Oklahoma. The move follows a separate $1 billion credit facility secured from Morgan Stanley in March.

Core Scientific has historically generated most of its revenue from mining digital assets, but has been increasing its focus on infrastructure services. The company operates facilities across several US states, including Texas, Georgia and North Carolina.

NYDIG to buy idle New York smelter

As Cointelegraph reported, Alcoa is close to selling its long-dormant Massena East smelter in upstate New York to Bitcoin mining firm NYDIG, with the deal expected to close by the middle of the year. The plant has sat unused since 2014, when it was shut down due to high energy costs and global competition.

Earlier this year, Century Aluminum also sold its Hawesville smelter in Kentucky for $200 million to crypto miner TeraWulf, which plans to convert it into a high-performance computing and AI facility.

Magazine: Bitcoin will not hit $1M by 2030, says veteran trader Peter Brandt

Bitcoin bulls fell $515 short of their $80,000 target after BTC (BTC) topped out at $79,485 on Monday, but a potential upside is that the brief pullback provides a necessary retest of key underlying levels. 

In technical analysis, a break of structure is generally followed by a support-resistance retest as swing traders take profits at preset levels that align with metrics such as the Fibonacci retracement, exponential moving averages, Bollinger Bands, order book structure, and more. The support-resistance flip is also a feature traders look for to confirm that a longer-term resistance (in this case) has turned into support. When confirmed, it gives some traders the confidence to open new positions at the S/R level as they believe the break of structure and retest marks either the completion or the start of a trend reversal. 

After managing the first decisive breakout from the 3-month-old channel, Bitcoin retested the channel resistance (at $76,688) that had pinned down every BTC rally since Feb. 8. A deeper retest could see the price drop to the 20-day moving average at $75,250, and then confirmation of the S/R flip would entail daily candle closes above the former trendline resistance. 

BTC/USDT 1-day chart. Source: TradingView

Outside of the naked price action from the candlestick chart, the long-to-short delta (heatmap below) shows longs currently with the advantage, with a -$38.6 million delta, and the figure widens to -$153 million if BTC rises to $77,500. 

BTC/USD long-short delta. Source: Hyblock

Essentially, the SR flip from the Monday US morning session liquidated long positions down to $76,500, potentially confirming the trendline resistance as support. As the price rebounds, the chart shows shorts having significantly more leveraged exposure at risk.

Bulls may succeed in pushing the price through the most immediate overhead shorts and returning BTC to its range highs below $80,000, but the aggregate orderbook set at 2.5% to 5% shows a wall of asks stacked from $79,700 to $80,000. This suggests that clearing the $80,000 level could remain a challenge in the short-term.

BTC/USDT orderbook bids and asks. Source: TRDR.io

Key takeaways:

Persistent spot market accumulation from Bitcoin ETFs and Strategy provided a price floor for Bitcoin and threatens to trigger a short squeeze.

Negative funding rates and cautious options skews could trap bears if the Federal Reserve policy shifts or high oil prices trigger higher inflation.

Bitcoin (BTC) price sustained levels above $76,000 for the past week, distancing itself from its year low at $60,500. The recent bullish momentum came as crude oil prices jumped above $100 and the S&P 500 hit new trading highs, but futures market data may point to a short-term rally-ending outcome for Bitcoin.

A total of $1.4 billion in leveraged short positions near $80,000 has been built over the past 48 hours, according to CoinGlass data, and Bitcoin’s rejection at $79,500 has raised alarm.

Estimated Bitcoin futures liquidation levels, USD. Source: CoinGlass

Federal Reserve decision, inflation data may push Bitcoin above $80,000

The lack of investors’ appetite for bullish Bitcoin leverage has been evident, but a bear trap could spring if the US Federal Reserve adopts a less restrictive monetary policy or if investors anticipate higher inflation, which would reduce the expected net returns from fixed-income assets.

Bitcoin perpetual futures annualized funding rate. Source: Laevitas

The Bitcoin perpetual futures annualized funding rate has remained mostly negative over the past two weeks, a typical sign of growing bearish confidence. Curiously, this happened while Bitcoin’s price jumped to $78,000 from $72,000 on April 9 and most of those bets are at a loss at $76,700. A rally above $80,000 would likely force traders to close their positions.

Data show investors are no longer anticipating interest rate hikes from the Fed, even as Brent crude prices have reclaimed the $100 level. The pressure from high energy prices has a cascading impact on inflation expectations, but the Fed is also concerned with the weakening job market and economic growth.

Implied target rate probabilities for Sept. 16 Fed meeting. Source: CME FedWatch tool

US government bond futures contracts presently indicate 20% odds of interest rates decreasing by September, marking a complete turnaround from one month prior. Traders realized that the Fed is in a tough spot, hence the 3.95% yield on 5-year US Treasury became less appealing. An interest rate cut exerts upward pressure on inflation.

Sustained spot Bitcoin buying supports BTC’s bullish momentum

Bitcoin’s bullish momentum has been driven by the spot market, evidenced by Strategy (MSTR US) adding $255 million in BTC between April 20 to April 26 and the $824 million net inflows into US-listed Bitcoin exchange-traded funds (ETFs). Bitcoin buyers continued to accumulate despite the failed attempts to hold above $79,000.

To determine if professional Bitcoin traders are effectively leaning bearish, one should assess the options markets.

Bitcoin options 30-day delta skew (put-call) at Deribit. Source: Laevitas

The Bitcoin options delta skew shows put (sell) options trading at an 11% premium relative to call (buy) options, consistent with a bearish market. Whales and market makers are uncomfortable with downside risk, which reinforces the thesis of a potential bear trap if Bitcoin reclaims $80,000 in the near term.

Further Bitcoin bullish momentum remains far from certain, but as long as spot market demand remains strong, the pressure on short positions may continue to mount. If the current accumulation trend persists alongside a softening of Federal Reserve policy, the resulting liquidity squeeze could easily propel the price well beyond the $80,000 resistance level.

Key points:

Bitcoin continues to face resistance near $79,500, but the trajectory remains up as long as the price holds above $76,000.

Most major altcoins are not showing any directional bias, suggesting a near-term consolidation.

Bitcoin (BTC) attempted to rise above $79,500, but the bears held their ground. BTC investor and author Michael Terpin told Cointelegraph that BTC risks falling to $57,000 in October 2026, based on a study of the “historical average” drawdown of about 1 year from a market-cycle top. Terpin added that BTC will have to rise above $100,000 for the bull market to resume.

Another negative view came from Bitcoin analyst Matthew Hyland, who said in a post on X that the “larger expected consensus outcome for BTC is another leg lower by October.” Veteran trader Peter Brandt also opined in an X post that BTC may form “an investable low” in September or October.

Crypto market data daily view. Source: TradingView

While several analysts expect a fall in BTC, crypto sentiment platform Santiment has a different view. Santiment said in a post on X that BTC wallets holding between 10 and 10,000 BTC have added 40,967 BTC since April 10, while retail investors holding less than 0.1 BTC have accumulated 46 BTC during the same period. If whales continue to buy and retail investors book profits, that may signal a long-term bull run.

Could BTC and the major altcoins rebound off the support? Let’s analyze the charts of the top 10 cryptocurrencies to find out. 

S&P 500 Index price prediction

The S&P 500 Index (SPX) rose to a new all-time high on Friday, indicating that the bulls are in command.

SPX daily chart. Source: Cointelegraph/TradingView

The upsloping 20-day exponential moving average (6,948) and the relative strength index (RSI) near the overbought zone suggest the up move may continue. The next levels to watch on the upside are 7,500 and then 7,877.

Sellers will have to swiftly yank the price back below the 20-day EMA to weaken the bullish momentum. If they manage to do that, the index may tumble to the 50-day simple moving average (6,795).

US Dollar Index price prediction

The US Dollar Index (DXY) reached the moving averages, where the bears are posing a stiff challenge.

DXY daily chart. Source: Cointelegraph/TradingView

The bears will attempt to push the price toward the 97.74 level, where buyers are expected to step in. However, if the bears push the price below the 97.74 level, the index may sink toward the 96.21-95.55 support zone.

On the upside, the bulls will need to sustain prices above the moving averages to increase the likelihood of a rally toward the 100.54 level. The bears will attempt to keep the index inside the 95.55 to 100.54 range by selling near the overhead resistance.

Bitcoin price prediction

BTC has been sustaining above the breakout level of $76,000, indicating that the bulls are not hurrying to book profits.

BTC/USDT daily chart. Source: Cointelegraph/TradingView

The upsloping moving averages and the RSI in the positive zone signal that the path of least resistance is upward. If buyers thrust the price above $80,000, the BTC/USDT pair may skyrocket to $84,000. 

Time is running out for the bears. They will have to quickly pull the BTC price below the 20-day EMA to gain the upper hand. The pair may then decline to the 50-day SMA ($71,820), signaling that the bears are active at higher levels.

Ether price prediction

Ether (ETH) remains above the 20-day EMA ($2,295), but bulls have failed to push it above the $2,465 resistance.

ETH/USDT daily chart. Source: Cointelegraph/TradingView

Sellers will attempt to strengthen their position by pulling the ETH price below the 20-day EMA. If they succeed, it suggests the ETH/USDT pair may remain within the ascending channel for a while longer.

Buyers will have to thrust the price above the resistance line to seize control. The pair may then soar to $3,050. Sellers will be back in the driver’s seat on a close below the support line.

XRP price prediction

XRP (XRP) remains stuck inside the $1.27 to $1.61 range, indicating buying on dips and selling on rallies.

XRP/USDT daily chart. Source: Cointelegraph/TradingView

The 20-day EMA ($1.40) has started to turn up gradually, and the RSI is near the midpoint, indicating that the bulls have a slight edge. There is minor resistance at $1.51, but if it is crossed, the XRP/USDT pair may reach the downtrend line. A break and close above the downtrend line signals a potential trend change. The pair may then rally to $2.

Sellers are likely to have other plans. They will attempt to pull the XRP price back below the moving averages, retaining the pair inside the range.

BNB price prediction

BNB (BNB) is finding support at the moving averages, but the bulls have failed to trigger a strong bounce off them.

BNB/USDT daily chart. Source: Cointelegraph/TradingView

Buyers will need to drive the BNB price above $654 to signal strength. The BNB/USDT pair may then test the $687 resistance level, a critical level to watch. If buyers pierce the $687 level, the pair may jump to $730 and then to $790.

Instead, if the price turns down from the current level or the overhead resistance and breaks below the moving averages, it suggests the pair may remain within the $570 to $687 range for a few more days.

Solana price prediction

Solana (SOL) continues to trade near the moving averages, indicating a balance between supply and demand.

SOL/USDT daily chart. Source: Cointelegraph/TradingView

There is a minor obstacle at $90.73, but if that level is broken, the SOL/USDT pair may reach the $98 resistance. Sellers are expected to defend the $98 level with all their might, as a close above it opens the doors for a rally to $117.

Alternatively, if the SOL price turns down from the current level or the overhead resistance and breaks below $82.94, it suggests that the bears are attempting to take charge. The pair may then collapse to the $76 support.

Dogecoin price prediction

Dogecoin (DOGE) has been gradually moving higher but is expected to face selling in the $0.10 to $0.11 zone.

DOGE/USDT daily chart. Source: Cointelegraph/TradingView

If the DOGE price turns down from the overhead resistance zone, it is expected to find support at the moving averages. A sharp bounce off the moving averages increases the possibility of a rally to the $0.12 level.

Contrarily, if the price turns down and breaks below the moving averages, it signals that the bears remain sellers on rallies. The DOGE/USDT pair risks resuming the downtrend if the $0.09 support breaks down. 

Hyperliquid price prediction

Hyperliquid (HYPE) resumed its northward march after breaking above the $41.88 resistance on Sunday.

HYPE/USDT daily chart. Source: Cointelegraph/TradingView

The uptrend is facing selling pressure in the $43.76 to $45.77 zone, as seen in the long wick on the candlestick. Sellers will attempt to sink the HYPE price below the 20-day EMA ($41.25), opening the door to a drop toward the 50-day SMA ($39.50). 

Conversely, if the price rises above the current level or the 20-day EMA and breaks above $45.77, it signals that the bulls remain in control. That may propel the HYPE/USDT pair toward the $50-$51.43 resistance zone.

Cardano price prediction

Cardano (ADA) has been clinging to the moving averages for several days, improving the prospects of an upside breakout.

ADA/USDT daily chart. Source: Cointelegraph/TradingView

The downtrend line is the crucial resistance to watch out for as a close above it signals a potential short-term trend change. The ADA/USDT pair may surge to $0.32, then to $0.37.

On the contrary, if the ADA price turns down sharply from the downtrend line, it suggests that the bears are aggressively defending the level. The pair may then slump to the $0.22 support.

Bitcoin (BTC) fell more than 2% on Monday as US-Iran war nerves again guided macro markets.

Key points:

Bitcoin gave back early-week gains as its downside extended toward 3% on Monday.

Two key moving averages hang in the balance amid macro uncertainty over the war in Iran.

Bulls need to clear the low $80,000 area next, says market analysis.

Crypto exec: Bitcoin needs to clear bull market support band

Data from TradingView showed BTC/USD hitting local lows of $76,567 on Bitstamp, giving back earlier gains.

BTC/USD one-hour chart. Source: Cointelegraph/TradingView

The pair had managed a weekly candle close above a key moving average — something that market participants had hoped would allow it to avoid a fresh retracement.

“Bitcoin just reclaimed the 21W EMA for the first time since Oct 2025,” trader Ryan Hogue noted in a post on X. 

“$84.5K (200DMA) looks like the next stop this week.”

BTC/USD one-week chart. Source: Ryan Hogue/X

Nic Puckrin, CEO and cofounder of crypto education platform Coin Bureau, added that Bitcoin reclaiming its bull market support band — two moving averages of which the 21-week EMA is one — was now key.

“We are right in the middle of the Bull Market Support Band. This has historically served as a key support for bull markets. We broke below the band in October last year,” he told X followers. 

“While 80k is acting as a resistance right now, if we flip the band to support, it would point to a major macro-bullish shift.”

BTC/USD one-day chart with bull market support band. Source: Nic Puckrin/X

Crypto markets "shaping up for more upside"

Uncertainty over progress between the US and Iran on ending the war nonetheless directed Bitcoin lower at the Wall Street open, along with US stocks.

Oil conversely began to gain, with WTI crude reaching $97.50 per barrel to near two-week highs.

CFDs on US WTI crude oil four-hour chart. Source: Cointelegraph/TradingView

Commenting, trading company QCP Capital suggested that Iran’s foreign minister flying to Russia for talks with President Vladimir Putin was “reviving concerns of broader geopolitical alignment and escalation, and adding to market uncertainty.”

“Whether the next leg higher proves to be another classic bull trap or a more durable recovery will hinge on BTC’s ability to close above 82k,” it wrote in its latest Market Color analysis.

QCP added that corporate earnings represented another source of potential risk-asset volatility for the week ahead.

BTC/USDT six-hour chart. Source: Michaël van de Poppe/X

Elsewhere, crypto trader Michaël van de Poppe was confident about a breakout beyond the current multimonth trading range.

“The markets are still shaping up for more upside, and it's still holding crucial levels,” he wrote on the day. 

“I think that we'll see $85-88K in May and correct/consolidate from there.”

Michael Saylor’s Strategy, the world’s largest public Bitcoin holder, added more Bitcoin last week as BTC traded above $77,000.

Strategy acquired 3,273 Bitcoin for $255 million between April 20 and 26, according to an 8-K filing with the US Securities and Exchange Commission on Monday.

Source: SEC

The purchases were made at an average price of $77,906 per coin, raising Strategy’s cost basis to $75,537.

The company now holds 818,334 BTC, acquired for about $61.8 billion. At the time of publication, the holdings were valued at roughly $63.6 billion, according to CoinGecko.

No STRC buying last week

Unlike Strategy’s 34,164 Bitcoin purchase announced the previous week — its third-largest on record — the latest acquisition did not rely on STRC, the company’s perpetual preferred security.

According to the SEC filing, the purchase was funded entirely through Strategy’s Class A common stock (MSTR), which sold 1.45 million shares and raised $255 million.

Source: SEC

The absence of STRC activity was previously noted by tracker STRC Live, which indicated no Bitcoin purchases tied to the security during the week.

Strategy co-founder Saylor previously signaled that the company would be boosting its holdings on Sunday, sharing a chart of Strategy’s Bitcoin purchase history with 107 BTC total purchase events since 2020.

Holding 818,334 BTC, Strategy has surpassed BlackRock, which holds about 812,300 BTC on behalf of its clients. However, it still trails the combined holdings of crypto fund issuers, which total roughly 1.32 million BTC, according to Wallet Pilot data.

Source: netrunner

According to Bitcoin advocate and Strategy investor Adam Livingston, Strategy is on track to accumulate a total of 1.2 million BTC by the end of 2026, positioning the company to acquire 381,666 more BTC.

So far this year, Strategy has acquired 144,551 BTC, equaling around 36,137 BTC acquired per month.

Magazine: Adam Back says current demand is ‘almost’ enough to send Bitcoin to $1M

A proposal to stitch Ethereum’s fragmented liquidity together extends beyond its own ecosystem and may bring other blockchains into the fold.

On March 29, Gnosis, a long-time Ethereum builder and blockchain infrastructure company, unveiled that it is developing the Ethereum Economic Zone (EEZ) with Zisk, a zero-knowledge virtual machine project. 

The EEZ is aimed at linking layer-2 rollups more tightly to Ethereum layer 1, with Ether remaining as the gas token and settlement layer. It introduces a model where smart contracts can interact across mainnet and EEZ rollups with atomic execution.

The EEZ’s ultimate goal is to make the Ethereum economy function as a unified market. Source: Frederike Ernst

However, Gnosis co-founder Frederike Ernst told Cointelegraph that networks outside the Ethereum ecosystem can join the EEZ as well.

“A lot of networks outside the traditional Ethereum ecosystem have reached out to us,” Ernst said.

I have the hope that this doesn't just unify the greater Ethereum ecosystem, but it actually grows the greater Ethereum to chains that so far we've kind of excluded mentally from this model because they didn't fit the template of what a chain should look like.

How Ethereum’s scaling path fractured its ecosystem

In the past, Ethereum has repeatedly seen transaction fees spike to unusable levels during periods of heavy demand. The pattern emerged early, from the initial coin offering boom to the surge in activity driven by the non-fungible token (NFT) game CryptoKitties. It resurfaced during DeFi summer of 2020 and again in the NFT boom of 2021.

Each wave strained the network and priced out everyday users. In response, Ethereum shifted toward a rollup-centric roadmap, aiming to offload activity to L2s.

Rollups secured almost $34 billion worth of assets on April 24. Source: L2Beat

The approach has largely reduced fee spikes, but it has also redirected a significant share of economic activity away from the base layer. Some critics have described the relationship as “parasitic.”

“Currently — because there is no synchronous composability between L2 and L1 — L2s have to replicate the entire L1 ecosystem. You have an Aave deployment on every notable L2, a Maker deployment, and so on,” Ernst said.

She added:

That’s a challenge for L2s, but also for protocols, which now have to maintain multiple versions of the same system across chains. It fragments liquidity, because instead of one market, you end up with 20.”

The EEZ’s solution to get these markets to behave as one again is to give chains the ability to prove their state to other networks in the economic zone.

Under the hood, a smart contract on one network can call a smart contract on another network and receive a response within the same block. It can then use that response to execute further actions, so the networks start behaving like a single system.

Technically, this is handled by builders, the entities that construct blocks before validators propose them. 

“If a call is made to a smart contract, they can recognize when it refers to a contract on another network and determine whether the corresponding transaction can be executed there as well,” Ernst said. “They then include both transactions atomically, so either both happen or neither does.”

The reorg problem and the price of joining

Bankless called the EEZ the most “serious answer” to Ethereum’s fragmentation problem. If successful, it would allow transactions to execute across the ecosystem, enabling L2s to interact directly with applications on Ethereum without duplicating them across chains.

The broader vision extends beyond L2s to other L1s, but there are three boxes networks must tick to join, according to Ernst:

Well-defined state transition function: The network must clearly define how it moves from one block to the next so builders can understand and simulate its state transitions.

Ability to prove state for each block: The network must generate cryptographic proofs of its state, allowing other chains in the EEZ to verify it when composing transactions.

Ability to reorg with Ethereum: The network must be able to reorganize its state in sync with Ethereum to preserve atomic execution across chains.

The first requirement is almost a given for most blockchains, while the second can be met by systems capable of generating cryptographic proofs of their state, such as ZK rollups or zkVM-based architectures. 

The third is the “tricky one.”

“What happens when Ethereum reorgs, and all of a sudden this guy is no longer here? What happens to this guy?” Ernst said, gesturing with both fists to represent transactions on different networks.

Ethereum generally has less than 10 reorgs a day. Source: Etherscan

In Ethereum, reorgs occur when competing versions of recent block history are produced and the network selects one as canonical. This can occur due to latency issues. Block reorgs occur regularly and are usually harmless, though more serious cases can point to malicious attacks.

“The requirement to reorg with Ethereum is a pretty tough one for a lot of the chains, but it’s kind of the price you have to pay in order to use everything that’s already on Ethereum,” Ernst said.

Not every chain will choose to join Ethereum

The requirements mean networks weighing whether to join the EEZ do not need to be EVM-based and can even be permissioned.

“Having a permissioned chain and still allowing it to interoperate with Ethereum, or parts of Ethereum, is a super valuable proposition,” Friederike Ernst said.

The initiative was originally designed as a ZK-based system. While ZK remains the preferred approach, networks joining the EEZ can also use other types of proving systems.

Ernst added that one of the networks EEZ has engaged with is the Canton Network, an institution-focused system gaining traction in real-world assets. However, the reorg requirement may hold such networks back from joining.

A potential solution is single-slot finality, which Ethereum researchers have been exploring as a possible upgrade. Single slot finality would make a block final the moment it is produced, effectively eliminating reorgs under normal conditions.

While EEZ enables rollups to access Ethereum’s liquidity and applications more seamlessly, the same model could extend to L1s outside the ecosystem. At the same time, not all L2s have the same incentives to join. Ernst said only a small number are viable as standalone ecosystems. She described Base as “definitely” one of them, while Arbitrum is “arguable.” Most others are not viable on their own.

“Every ecosystem that’s not viable gains much more than it gives up by joining the EEZ, and the rest will just have to decide, ‘am I Ethereum or am I not Ethereum?’” she said.

Ernst added that EEZ participation won’t be binding and networks are free to leave.

It’s not like Hotel California where you check in and then you never check out.”

If the EEZ works, Ethereum shifts from being just a base layer to becoming a coordination layer for multiple chains, consolidating liquidity and activity across the ecosystem. If it doesn’t, fragmentation persists and value continues to spread across competing networks.

Magazine: AI-driven hacks could kill DeFi — unless projects act now

A new report released Monday from industry group Blockchain for Europe argues that the European Union’s flagship crypto laws, the Markets in Crypto-Assets Regulation (MiCA) framework, have produced euro-denominated stablecoins that are ultra-safe but commercially weak, leaving the bloc far behind US dollar-pegged tokens in digital payments and trading.

The report cites DeFiLlama data that euro stablecoins account for less than 1% of global stablecoin volume despite the euro’s much larger role in global markets, and argues that MiCA has pushed them onto the “downward-sloping” part of a regulatory "Laffer" curve, where stricter rules reduce the activity they are meant to govern.

Drafted by European Central Bank official Ulrich Bindseil and Blockchain for Europe’s Erwin Voloder, the report focuses on MiCA’s rules for euro electronic money tokens, or EMTs, which must be fully backed and are barred from paying interest.

That remuneration ban was designed to prevent stablecoins from becoming deposit substitutes, but the authors say it leaves MiCA-compliant euro tokens “at a particular disadvantage” in a positive-rate environment, especially versus bank deposits and foreign currency stablecoins that can embed or distribute yield through other mechanisms. They argue this combination of strict safeguards and zero interest has created a safe but structurally uncompetitive euro stablecoin segment.

Calls for targeted reforms

The report places these constraints in a broader policy debate over how MiCA compares with other jurisdictions and how Europe should respond.

The US Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act, for example, also prohibits payment stablecoin issuers from paying interest on balances “solely in connection with the holding” of a token, but dollar-pegged tokens remain central to decentralized finance (DeFi) lending pools and other onchain yield strategies, helping them attract liquidity without issuer-paid yield.

Reforming MiCA for Euro Stablecoins. Source: Blockchain for Europe

The authors also criticize MiCA’s requirement that at least 30% of EMT reserves (rising to 60% for significant issuers) be held as bank deposits, calling it a feature “not found in stablecoin regulations in other major jurisdictions.”

They propose replacing rigid thresholds with a principle-based approach aligned with the EU’s Liquidity Coverage Ratio framework and a broader mix of high-quality liquid euro assets.

In place of a full rewrite, the paper urges targeted changes to MiCA’s reserve, remuneration and transparency rules for EMTs and argues that large issuers should also have carefully limited access to central bank settlement accounts in severe stress.

MiCA 2.0 debate and stability concerns

The proposals come as EU officials begin to float the idea of a “MiCA 2” overhaul, with European Commission adviser Peter Kerstens saying at Paris Blockchain Week earlier in April that Brussels is likely to revisit the framework as the market matures.

Any loosening, however, is expected to face resistance, with the European Banking Authority warning in an October 2025 opinion article that proposed changes to MiCA’s technical standards could weaken safeguards and increase arbitrage risks.

The European Central Bank’s own macroprudential analysis this month highlights the financial stability implications of a growing stablecoin market, warning that large-scale euro stablecoin adoption could concentrate demand in short-dated euro-area sovereign bonds and potentially affect yields and liquidity during redemptions, arguing that supervisors must manage these risks as the market develops.

Magazine: Will the CLARITY Act be good — or bad — for DeFi?

Bitcoin (BTC) counts down the final days of April with a fresh attack on $80,000 as price teases key breakouts.

Bitcoin sees its first weekly close above a key trend line since October 2025.

Liquidity grabs ramp up as traders eye a potential support retest closer to $70,000.

The Federal Reserve interest-rate decision and inflation data form macro volatility catalysts.

Analysis sees the “end of capitulation” on Bitcoin as institutions shore up the market.

US manufacturing data could allow BTC/USD to avoid a retest of its macro lows.

Bitcoin closes above 21-week trend line for the first time in six months

Bitcoin may have failed to tap $80,000 or even hold its latest gains, but the weekly close was still significant.

After a last-minute push higher, BTC/USD managed to close out the weekly candle just above a key trend line, data from TradingView confirms.

BTC/USD one-hour chart with 21-week EMA. Source: Cointelegraph/TradingView

This was its 21-week exponential moving average (EMA) — a resistance feature on the chart in place since October 2025. The last weekly close above it was when the pair traded at nearly $115,000.

As Cointelegraph reported, the 21-week EMA was already on the radar for trader and analyst Rekt Capital. 

A weekly close above it, he argued last week, was a prerequisite for avoiding a support retest of $73,000.

“Unless BTC is able to reclaim the 21-week EMA as support... Then this EMA could indeed force BTC into a post-breakout retest of the top of the Double Bottom price broke out from last week,” he told X followers.

BTC/USD one-week chart. Source: Rekt Capital/X

The 21-week EMA currently forms the upper boundary of Bitcoin’s bull market support band, together with the 20-week simple moving average (SMA) at $76,550.

Similarly, it was in October last year that price completed a weekly close fully above the band’s two trend lines.

Last week, trader Daan Crypto Trades said that such an event “could confirm the end of this down trend and further relief bounce.”

BTC/USD one-week chart with bull market support band. Source: Cointelegraph/TradingView

Liquidity grabs drive short-term BTC price action

On short time frames, the BTC price landscape is offering traders mixed signals.

As overall strength persists despite geopolitical uncertainty, bulls continue to struggle with reclaiming key support lines.

“Some great momentum on $BTC lately, however there are some crucial levels to consider,” crypto trader Michaël van de Poppe commented in his latest analysis on X.

Van de Poppe said that price breaking through $79,000 opens up the path to levels up to $100,000, which will nonetheless “take time.”

“If there's no clear breakout at $79K, it wouldn't be surprising to expect some period of consolidation before there's another test of the resistance,” he reasoned.

“In that case, there's a level that I prefer to see hold: $73.5k+.”

BTC/USDT six-hour chart. Source: Michaël van de Poppe/X

Earlier, Cointelegraph reported on expectations of a fresh BTC price comedown and even new macro lows. 

Van de Poppe added that such an outcome could occur should the $73,000 area fail.

Continuing, trader CrypNuevo suggested that liquidity grabs could bring about that trip to the lower end of the $70,000-$80,000 corridor. 

After the weekly close, BTC/USD took out late shorts above $79,000 before rapidly heading downward, liquidating newly-placed longs, data from CoinGlass shows.

BTC 24-hour liquidation heatmap. Source: CoinGlass

“Price could take the upside liquidations first in a range highs deviation, before going for the lower ones at $70k mid-range,” CrypNuevo predicted.

He added that both $70,000 and $80,000 had an “interesting amount” of potential liquidations to offer.

BTC liquidation heatmap. Source: CrypNuevo/X

Powell's final Fed FOMC meeting brings stocks warning

With markets still unsure of the roadmap for the US-Iran war, risk appetite is nonetheless “returning,” analysis says.

This week has begun with the hope of further negotiations to end the conflict, this time thanks to an Iranian proposal.

Bitcoin appeared to find reason for relief on the news, hitting new multi-month highs before quickly retracing. 

“Risk appetite continues to grow rapidly in this market,” trading resource The Kobeissi Letter wrote in an X response as BTC/USD neared $79,500.

Macro volatility is set to continue in the coming days, thanks also to US macroeconomic events.

Wednesday will see the Federal Reserve’s next decision on interest-rate changes, and markets will be watching Chair Jerome Powell’s press conference for cues when it comes to future policy.

Fed target rate expectations for Wednesday's FOMC meeting (screenshot). Source: CME Group FedWatch Tool

The war has added new inflation risks for the US, and Thursday’s release of the Fed’s “preferred” inflation gauge should reflect its impact on the trend.

This week also marks the last Federal Open Market Committee (FOMC) meeting with Powell as Chair, ahead of the assumed takeover by Kevin Warsh.

“New Fed chairs have a history of being greeted with market volatility,” trading resource Mosaic Asset Company noted in the latest edition of its regular analysis series, The Market Mosaic.

An accompanying chart put the average S&P 500 drawdown in the year a new Fed Chair takes over at 20%.

S&P 500 drawdowns under new Fed Chairs. Source: Mosaic Asset Company

BTC price analysis sees "structural bottom" in place

Bitcoin near $80,000 has led analysts to suggest that the “end of capitulation” is already here.

In one of its QuickTake blog posts on Monday, onchain analytics platform CryptoQuant pointed to institutional investors as the key supporting factor during the 2026 bear market.

“During the Hormuz Shock, large investors refused to sell their Bitcoins and the panic in derivatives was irrelevant, as institutional conviction was already cemented,” contributor GugaOnChain summarized.

In early February, CryptoQuant argued, when BTC/USD briefly fell to near $60,000, a “purge” of low-conviction investors had already been underway for several months.

“Operators took profits, purging weak hands and retreating the support to $54.5K,” GugaOnChain continued, referring to Bitcoin investors’ average cost basis, also known as realized price. 

“In practice: the retail that paid the speculative premium at $90K entered absolute panic with the free fall. Forced to sell at a loss, they returned their Bitcoins to the Smart Money in the $62K zone, establishing an early support above the fair price.”

Bitcoin realized price data (screenshot). Source: CryptoQuant

CryptoQuant described the “apex” of the process occurring in February, with a recovery underway ever since.

“The apex of this purge occurred on February 5, 2026, consolidating the ground zero of this Bear Market. With the Spot squeezed at $62.8K and the Realized Price (RP) at $55.3K, the deviation was only 1.34%,” GugaOnChain explained, calling a “structural bottom.” 

“Unlike the absolute capitulation of 2022, when the price crossed below the network's base, this time the panic stalled at a 13% distance from the Wall. Institutional capital erected a concrete floor before the abyss, exhausting the selling power of investors without conviction.”

Bitcoin realized-price data ordered by date coins moved onchain. Source: CryptoQuant

US macro data may save Bitcoin from new bear-market low

Throughout the current macro volatility, US Purchasing Managers’ Index (PMI) has formed a key upside catalyst for crypto and risk assets.

This is set to continue, with PMI entering an “expansion” phase for the first time since 2022.

For commentator Matthew Hyland, this now has implications for Bitcoin price action for the rest of 2026. In this bear-market year, BTC/USD should find a bottom in Q4, matching 2022 — but PMI should change the landscape.

“Because of the strength of the PMI expansion trigger along with the other 10+ signals I do not believe the ‘4 year cycle’ works out as most expect,” he wrote on X.

BTC/USD versus US PMI data. Source: Matthew Hyland/X

Instead of beating its February lows, Bitcoin should instead put in “higher low” near $60,000, contrary to the majority’s expectations. Supporting this, Hyland made reference to “10+ signals” showing that the new bottom is already in place.

“My invalidation would be a severe black swan something worse than the past few months however black swans are NOT likely so Its low percentage odds of being invalidated and not favorable to happen,” he added.

Ether (ETH) has surged more than 10% in April, reaching as high as $2,430 this month amid renewed market optimism.

ETH/USD daily chart. Source: TradingView

Yet during the same period, the Ethereum Foundation, a nonprofit overseeing the Ethereum protocol’s development, has continued notable treasury sales.

Key takeaways:

The Ethereum Foundation has sold approximately 20,000 ETH so far in 2026.

Institutional demand for ETH remains strong, offsetting the foundation’s impact on the market.

Why is Ethereum Foundation selling ETH?

In early April, the Foundation sold 5,000 ETH for roughly $11 million in DAI. This was followed by a larger 10,000 ETH OTC sale to Tom Lee’s Bitmine at an average price of $2,387, raising approximately $23.9 million.

Source: X

The sales are not reactions to price action but follow a disciplined Treasury Policy adopted in June 2025.

The Foundation maintains fiat and stablecoin reserves equal to roughly 2.5 years of operating expenses. Periodic ETH sales replenish these reserves to fund protocol development, research, grants, and ecosystem support.

In 2026 alone, the Foundation has sold approximately 20,000 ETH, raising over $45 million. It still holds around 92,500 ETH (~$215 million) in its liquid treasury, plus 70,000 ETH staked, according to data resource Arkham Intelligence.

Ethereum Foundation’s ETH balance. Source: Arkham Intelligence

The Foundation’s 70,000 staked ETH may generate $4–$5 million in annual yield, assuming the current ETH price and the annual percentage yield of approximately 2.7%–3.8% gross remains about the same or higher in the future.

This new income stream should gradually reduce the Foundation’s reliance on ETH sales to fund its operations.

Are Ethereum Foundation’s sales bearish for ETH?

The Ethereum Foundation’s ETH sales remain small relative to daily ETH volume.

A typical 5,000–10,000 ETH sale represents just 0.08%–0.25% of Ethereum’s average daily trading volume of $10–12 billion.

This modest size means the market can comfortably absorb the Foundation’s selling pressure with negligible impact.

On-chain data already highlights robust underlying demand for ETH from large holders.

For instance, the number of daily accumulation addresses, wallets steadily buying and holding Ether, rose to 2,434 this week, surpassing the number of exchange depositing addresses (wallets preparing to sell), which fell to 2,300, as shown below.

Binance ERC-20 stablecoin whale activity index. Source: CryptoQuant

Also, spot Ethereum ETFs have recorded strong inflows for three consecutive weeks, attracting more than $2 billion in new capital since early April, according to data from SoSoValue.

US spot Ethereum ETF weekly flows. Source: SoSoValue

This sustained institutional buying signals growing demand for Ethereum investment products on Wall Street.

Ether rising wedge hints at 15% dip ahead

From a technical perspective, Ether is currently forming a rising wedge pattern, a structure defined by two ascending trend lines that are converging, accompanied by noticeably declining volume.

In technical analysis, a rising wedge resolves when the price breaks below the lower trend line and falls by as much as the structure’s maximum height.

ETH/USD daily chart. Source: TradingView

Applying this rule on ETH’s chart brings its downside target to around $1,950, down by over 15%, by June, assuming the breakdown point is the wedge’s apex at approximately $2,580, where the two trend lines converge.

Conversely, a break above the wedge’s upper trendline may invalidate the bearish outlook. Instead, bulls may target the 200-day exponential moving average (200-day EMA, the blue line) at around $2,630 as their next upside target.

South Korean internet-only bank Kbank has signed a strategic partnership with blockchain payments company Ripple to test blockchain-based overseas remittances. 

According to local media outlets like News1, The Korea Herald and Maeil Business, Kbank CEO Choi Woo-hyung and Fiona Murray, Ripple’s Asia-Pacific managing director, signed the agreement at Kbank’s Seoul headquarters. The bank said the partnership will use Ripple’s global network and blockchain infrastructure to test whether overseas remittances can be made faster, cheaper and more transparent.

The companies are already conducting a phased technical verification. The first phase reportedly tested a separate app-based remittance structure, while the second phase is digitally linking customer accounts and internal systems to test remittance stability. It includes onchain transfers to countries such as the United Arab Emirates and Thailand, according to local reports. 

The tie-up comes as South Korean financial companies test blockchain-based cross-border payment infrastructure while the country’s stablecoin and digital asset rules remain under discussion.

South Korea firms prepare for stablecoin rules

South Korea is weighing how to regulate stablecoins under broader digital asset legislation. On April 8, South Korea's ruling Democratic Party prepared a draft bill that would classify stablecoins as foreign exchange payment instruments and require tokenized real-world assets to be backed by assets held in trust. 

Citing an integrated draft of the proposed Digital Asset Basic Act, the Seoul Economic Daily previously reported that stablecoins used in cross-border transactions would be treated as a “means of payment” under the country's Foreign Exchange Transactions Act. 

The policy backdrop may explain why stablecoin and blockchain-payment tie-ups are accelerating before the rules are final. Banks, card companies and payment firms appear to be testing infrastructure, partners and use cases while avoiding full commercial launches ahead of legislation. 

On March 16, Hana Financial Group, one of South Korea’s largest financial conglomerates, signed a business agreement with the United Kingdom's Standard Chartered Group for cooperation on various sectors, including foreign exchange and digital assets. 

The South Korean conglomerate also previously partnered with USDC-issuer Circle and major US crypto exchange Crypto.com to promote stablecoin-based payments for foreign visitors in the country, according to The Korea Times. 

On March 5, Asia Business Daily reported that South Korean payments company Danal will officially launch a digital asset payments service for foreign visitors in Korea in partnership with Binance Pay. 

Magazine: Adam Back says current demand is ‘almost’ enough to send Bitcoin to $1M

Luxembourg-based Banking Circle has launched stablecoin settlement services after receiving a Crypto Asset Service Provider (CASP) license from Luxembourg's financial regulator on April 15, expanding into regulated fiat-to-stablecoin and stablecoin-to-fiat settlement for institutional clients.

The rollout includes support for Circle's USDC, Paxos' USDG and Banking Circle's own euro stablecoin EURI, expanding the bank's digital asset settlement capabilities beyond its initial EURI launch in August 2024.

In a Monday announcement, the bank said it serves more than 750 payment companies, financial institutions and marketplaces that move and convert over 1.5 trillion euros (roughly $1.7 trillion) annually across its infrastructure. Chief digital asset officer Kirit Bhatia said in the release that stablecoins are "a natural extension" of the bank's infrastructure and central to reducing costs and improving efficiencies.

The move comes as Europe’s market for regulated stablecoin issuance and settlement continues to grow, with banks, fintechs and crypto-native companies competing to build compliant digital asset payment infrastructure under the European Union's Markets in Crypto Assets Regulation (MiCA) framework.

Cointelegraph reached out to Banking Circle for comment but had not received a response by publication.

Banking Circle deepens push into crowded euro stablecoins

In August 2024, Banking Circle launched EURI, which it described as a bank-issued MiCA-compliant euro stablecoin, giving it an earlier foothold before securing CASP authorization in Europe.

Banking Circle launches stablecoin settlement services. Source: Banking Circle

The euro stablecoin market is becoming increasingly crowded. French bank Société Générale's SG-FORGE launched its euro stablecoin EURCV in April 2023 on Ethereum and later expanded to additional blockchain networks as part of a broader multi-chain strategy.

On April 15, SG-FORGE integrated its MiCA-compliant dollar stablecoin USDCV into MetaMask, giving the wallet's millions of users access to a regulated dollar token issued by a major European bank.

Swiss bank Sygnum added EURCV to its B2B platform in January 2025 to serve institutional clients and partner banks, and in September 2025, a consortium of European banks, including ING, UniCredit and CaixaBank, announced Qivalis, a MiCA-compliant euro stablecoin expected to launch in the second half of 2026.

The consortium has since expanded to 12 banks, including BBVA, BNP Paribas and DZ Bank, and partnered with Fireblocks to provide custody and tokenization infrastructure for the MiCA-compliant stablecoin ahead of launch

Crypto-native infrastructure companies are also competing in the same segment. Circle, the issuer of USDC, announced its Circle Payments Network in April 2025 as a managed settlement service for banks and payment service providers, while Coinbase's April 21 partnership with global payments platform Nium enables businesses to fund cross-border transfers with USDC and settle in either USDC or fiat across a network spanning more than 190 countries.

Magazine: AI-driven hacks could kill DeFi — unless projects act now

Cryptocurrency investment products continued their run of inflows last week as Bitcoin traded at its highest levels since early February.

Crypto exchange-traded products (ETPs) recorded $1.2 billion in inflows last week, marking their fourth week of consecutive gains, CoinShares reported Monday.

The inflow streak is the largest so far this year, as the four-week total reached about $3.9 billion, surpassing the previous four-week run of $2.9 billion in March.

Total assets under management rose to $155 billion, the highest level since Feb. 1, supported by Bitcoin trading above $76,000 for the first time since its February correction, CoinShares head of research James Butterfill said.

He said that crypto ETP growth likely reflects improving institutional demand against a backdrop of a Bitcoin surge. “The market now turns to the FOMC decision on April 28–29, which is likely contributing to caution at the margin,” Butterfill added.

Bitcoin leads inflows as most assets see gains

Bitcoin led last week’s ETP inflows, drawing $932.5 million and lifting year-to-date flows to $4 billion. A large share of these inflows came from US-listed spot Bitcoin exchange-traded funds, which recorded about $824 million in inflows last week, according to SoSoValue.

Ether ETPs ranked second with $192 million of inflows, marking the third consecutive week of gains above $190 million, with year-to-date inflows now at $390 million.

Crypto ETP flows by asset (in millions of US dollars). Source: CoinShares

XRP funds returned to inflows after recording $56 million in outflows the previous week.

Despite the positive trend, short-Bitcoin products also recorded modest inflows of $16.5 million. That was broadly in line with the prior month’s average, suggesting persistent but not elevated hedging demand, Butterfill said.

Blockchain equity ETFs hit record weekly inflows.

The analyst also noted that blockchain equity ETFs recorded a record week of inflows.

The ETFs have seen $617 million in inflows over the past three weeks, Butterfill said, highlighting rising demand for exposure to the broader technology and digital asset sector.

Regionally, the US dominated with $1.1 billion of inflows. Germany saw around $62 million, more than double the prior week, while Switzerland reversed last week’s $138 million of outflows with $35 million of inflows.

Magazine: XRP hints at 30% spike, Bitcoin ETFs post 9-day inflow streak: Hodler’s Digest, April 19 – 25

At least 88 people, including ten minors, have been indicted in connection with alleged wrench attacks against crypto owners in France, according to Vanessa Perrée, the country’s national prosecutor for organized crime.

Perrée said in a statement on Friday that 75 of the alleged offenders are being held in pre-trial detention, with the arrests related to 12 cases currently under investigation by specialized investigating judges of the Paris Judicial Court and monitored by the National Prosecutor's Office for Organized Crime (PNACO).

Wrench attacks involve the use of physical force to gain access to a victim’s crypto wallet and have taken the form of home invasions, kidnappings and other extortion attempts. 

PNACO has recorded 18 incidents in 2024, 67 in 2025, and 47 so far in 2026. 

Blockchain security company CertiK reported a 75% increase in attacks worldwide in 2025 compared with the previous year.

“The acts in question, particularly under the legal classifications of arrest, abduction, organized group sequestration, extortion, and attempts of organized group extortion, are of particular seriousness, both due to the harm caused to individuals and the methods used to obtain transfers of crypto-assets under duress,” Perrée added.

Structured networks conducting attacks

French law enforcement agencies investigating the incidents have merged several cases after discovering that some of the alleged offenders were involved in multiple incidents.

“These consolidations were made possible notably through the identification of individuals recurrently involved in multiple cases, thus revealing the existence of structured networks,” Perrée said.

“Investigations are actively ongoing, under the authority of investigating magistrates, to identify all perpetrators and instigators, clarify financial channels and dismantle the networks involved,” she added.

Casa chief security officer Jameson Lopp has maintained a list of recorded wrench attacks worldwide dating to 2014 and has recorded 29 so far this year.

There have been five recorded wrench attacks so far in April. Source: GitHub

Crypto users shouldn’t brag about their stash on social media

Perrée said the rise in cases means crypto holders and their relatives should be more vigilant and avoid “overexposure on social networks that could make them targets” while also remaining wary of scammers posing as an investigative service or judicial institution to obtain information.

Blockchain intelligence company TRM Labs reported in May last year that wrench attacks have been on the rise because of the perceived pseudonymity of crypto transactions, the public visibility of wealth, and the ease with which bad actors can gather personal data online.

Meanwhile, Telegram founder Pavel Durov suggested Friday that the rise in attacks in France was due to the alleged misuse of crypto investors’ tax data by a former tax official.

Magazine: Forget stablecoin yield, how does the CLARITY Act treat DeFi?  

Prediction market platforms’ ability to accurately predict events is driven by a small set of highly informed traders rather than crowd-sourced wisdom, according to researchers from London Business School and Yale University.

About 3.5% of these accounts “generate the bulk of price discovery” on prediction markets like Polymarket, according to a paper by Roberto Gomez-Cram, Yunhan Guo, Theis Ingerslev Jensen and Howard Kung, which was revised April 25. 

“The remaining majority does not produce accuracy; rather, it funds it,” the authors said.

“Their trades generate most of the volume, but little of the information, and their losses flow as profits to the informed minority. Prediction market accuracy thus reflects the wisdom of an informed minority, not the wisdom of the crowd.”

The findings are based on Polymarket trades between 2023 and 2025. The authors used a sign-randomization test that repeated each account’s past trades 10,000 times to simulate profit-and-loss distributions.

Prediction markets became one of crypto’s hottest use cases last year and now consistently record more than $15 billion in monthly trading volume across markets covering everything from sports and elections to financial results and cultural events.

However, that rise has been accompanied by increased regulatory scrutiny, driven by concerns that insider traders may be using prediction markets to turn confidential information into profits.

The authors acknowledged that insider trading is a “particular concern” in prediction markets, noting that the platforms face less regulatory oversight than securities markets because many users are pseudonymous and contracts are narrowly defined around specific events. 

“These features make prediction markets an attractive venue for trading on private information.”

The ‘informed minority’ makes outsized profits

The authors said the informed minority comprises market makers and “skilled takers,” which collectively take home “over 30% of total gains” on prediction markets.

The study also found that market maker accounts earned about $11,830 on average per account.

The other 69% of profit-takers are the “lucky winners,” who account for 29% of all accounts.

The remaining accounts are the “unlucky losers” who “absorb the entirety of aggregate losses,” the authors added.

Earlier this month, a research study by crypto analyst Andrey Sergeenkov found that just 0.015% of traders make profits large and consistent enough to entertain walking away from their day job.

That conclusion was based on the number of Polymarket users who sustained a profit of $5,000 or more over four consecutive months between April 2024 and April 1, 2026.

Magazine: How to fix suspected insider trading on Polymarket and Kalshi

Financial services giant Western Union is targeting May for the rollout of its new stablecoin as part of a crypto plan that includes its digital asset network and US dollar stable card. 

“Over the last few months, we've crossed an important threshold. It is no longer a question of if Western Union will be active in digital assets, it is now how fast can we scale,” said Western Union president and CEO Devin McGranahan during the company’s first-quarter earnings call on Friday. 

“At the foundation of our strategy is USDPT, our US dollar-backed stablecoin. USDPT is now in its final stages of readiness and is expected to go live next month,” he added. 

A growing number of traditional financial institutions have been adopting stablecoins. Lamine Brahimi, co-founder of crypto custody provider Taurus, told Cointelegraph earlier this month that banks and corporations across Europe are actively selecting infrastructure partners to support stablecoin adoption.

Other banks and financial institutions onboard

Western Union first announced the stablecoin in October, and said it would be built on Solana and issued by Anchorage Digital Bank. It plans to combine it with the digital asset network to allow users to use the token seamlessly.

McGranahan said exchange partners will support access, conversion and distribution of USDPT and banking and financial institution partners in priority corridors will facilitate direct settlement and treasury use cases.

“Together, these relationships position USDPT as a foundational asset for scaling digital payments and settlement across our platform,” he added.

Currently, US dollar-denominated stablecoins account for the lion’s share of the $320 billion stablecoin market capitalization. 

Tether's USDt (USDT) leads with a market cap of more than $189.7 billion, followed by Circle's USDC (USDC) at $77.7 billion and Sky Dollar at $8.2 billion, according to DeFi analytics platform DefiLlama.

Tether's USDT is the leading US dollar-denominated stablecoin. Source: DeFiLlama

Digital asset network launching with first partner

McGranahan added that Western Union’s digital asset network (DAN), which aims to allow stablecoins and other cryptocurrencies to move across its global payment system and link to real-world cash access, will add its first partner this week. 

“Our partner pipeline represents tens of millions of crypto wallets globally, creating a powerful distribution channel that brings digital asset users directly into Western Union's retail and digital network, solving an industry-wide issue of ramping from crypto to cash as a safe and effective utility,” he added.

Western Union’s digital asset network adds its first partner this week. Source: Western Union

Last month, Western Union announced DAN would allow users to convert digital dollars into local currency at more than 360,000 collection points worldwide.

Stable card launch later this year

Meanwhile, Western Union is also planning to launch a US dollar stable card, which will allow users to hold and spend stablecoins later this year.

McGranahan added that going forward, Western Union plans to make digital assets a core part of its platforms.

“The focus ahead is scaling, expanding adoption, increasing velocity, and embedding digital assets more deeply into Western Union's core money movement platform.”

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