Bitcoin shows signs of bottoming, but capitulation, ETF outflows, and defensive options markets still threaten recovery. Bitcoin’s market appears to be in the later stages of a bear market, but the signals confirming a broader turnaround have not yet emerged. On-chain data shared by Glassnode shows the asset has recovered from $57,800 to nearly…
Wells Fargo has expanded its exposure to Strategy while reducing part of its BlackRock Bitcoin ETF position, according to its latest regulatory filing that also shows larger investments across Ethereum and Solana-linked products. Summary Wells Fargo increased its Strategy stake by 125% while trimming its BlackRock Bitcoin ETF holding. The bank boosted Ethereum ETF exposure,…
Sony Bank has secured conditional approval from the Office of the Comptroller of the Currency (OCC), the US federal regulator that charters and supervises national banks, to establish a wholly owned US national trust bank subsidiary called Connectia Trust, with a $40M capitalization. The subsidiary’s mandate is to issue and manage a dollar-backed stablecoin, with…
Polygon’s Open Money Stack now supports PayPal’s PYUSD, enabling businesses to move funds globally without managing multiple payment providers separately. PayPal’s US dollar-backed stablecoin, PYUSD, has launched on the Polygon blockchain through a native issuance by Paxos. The latest move allows businesses to use the token for cross-border payments through Polygon’s Open Money Stack….
In the two weeks around Bitcoin’s fall to a 21-month low, whale wallets absorbed roughly $16.7 billion of coins while the spot ETFs suffered their worst outflow month on record. The two most powerful forces in Bitcoin’s market structure are positioned in opposite directions, and the resolution of that disagreement is the Bitcoin trade for…
In Bitcoin news today, BTC dropped -3.5% on Wednesday, with price action stalling at the $62,000 level even as broader equity markets partially recovered, a divergence that signals the selling pressure runs deeper than simple macro risk-off. The world’s largest cryptocurrency by market cap is trading at roughly $63,000, and a retest of the $60,000…
SWIFT has moved its blockchain-based ledger into initial deployment, with 17 global banks preparing to test tokenized deposit payments for round-the-clock cross-border settlements. Summary SWIFT has launched the first phase of its blockchain ledger with 17 global banks set to pilot tokenized deposit payments for round the clock cross border settlements. The new ledger will…
In crypto news today (July 9), Bitcoin has bounced back from yesterday’s pullback, climbing above $63,000 and up +0.5% over the past 24 hours. Liquidations have slowed considerably since yesterday, dropping from over $350M to $282M, with over $183M of that figure coming from long positions, signaling that bulls still haven’t learned their lesson from…
Bitcoin traders face a crucial test as $63,000 remains the barrier bulls must overcome before further upside. Bitcoin stayed under pressure this week after the United States and Iran exchanged air strikes. Market sentiment worsened further after President Donald Trump said the memorandum of understanding and the ceasefire with Iran “is over.” The uncertainty…
AscendEX has shut down operations after citing regulatory requirements under the European Union’s MiCA framework and mounting financial difficulties, while warning that some customers may not recover their full crypto balances. Summary AscendEX has shut down operations, citing MiCA compliance requirements and financial difficulties. The exchange warned users that withdrawals will be reviewed manually and…
