The week starts in the red—it's a bloodbath for crypto. Ethereum, Solana, and the market are plunging. Even Bitcoin isn't spared.
As Bitcoin continues to capture the attention of markets, the latest data shows a stark contrast between network activity and its net capital. Daily transfer volume has fallen by 76%, while realized capitalization has surged by $160 billion in three months. A dynamic that raises questions: are we witnessing a critical slowdown or a strategic consolidation before a new bullish momentum? Since its last peak beyond $100,000, Bitcoin has struggled to maintain its momentum. The pressure is intensifying, and some analysts anticipate a possible drop below $90,000. However, despite a significant decline in activity, the influx of fresh capital and the resilience of long-term investors present an interesting counterpoint.
In a major advancement for the adoption of stablecoins in the financial sector, the Dubai International Financial Centre (DIFC) has officially recognized USDC and EURC as the first regulated stablecoins within its legal framework. This recognition marks a key milestone for Circle as it establishes itself against its direct competitor, Tether's USDT.
The Ethereum blockchain, often seen as a driving force of innovation in the crypto world, recently encountered a serious setback during the deployment of the Pectra upgrade. While this update was supposed to mark a major advancement for the network, a bug on the Holesky testnet has cast doubt. This incident raises questions not only about the technical challenges Ethereum faces, but also about the crucial importance of testnets in the crypto ecosystem.
The central Bank of China has just carried out an important medium-term lending operation to support its banking system. This injection of 300 billion yuan (approximately 41.83 billion dollars) is part of a broader strategy aimed at maintaining favorable liquidity conditions in an uncertain economic context.
After a consolidation around $96,500, Bitcoin faced selling pressure, bringing its price down towards the support level of $89,000. Check out Elyfe's analysis to decipher the technical perspectives of BTC.
With the rise of cryptocurrencies, one question often arises: can one live solely on bitcoin? This is the challenge that Martin, a crypto-enthusiast adventurer, took on as he traversed Switzerland, paying exclusively in BTC. His journey, documented in a captivating video, tests the adoption of Bitcoin in a country known for its openness to cryptocurrencies.
Elon Musk's journey has always been marked by meteoric rises and brutal shocks. However, rarely has a week been as financially challenging for the head of Tesla and SpaceX. In just a few days, his fortune evaporated by $41 billion, a drop that raises questions about the strength of his companies as well as his controversial management. While Musk retains his status as the world's richest man, this unprecedented loss is symptomatic of the growing difficulties faced by Tesla, whose transition strategy towards artificial intelligence worries investors. Additionally, there are political tensions and criticisms of his omnipresence in various fields, which makes the situation even more complex. Amid colossal financial losses and a crisis of confidence, Musk finds himself under the spotlight for reasons very different from those that brought him success.
Bitcoin, the wavering king, falls below $90,000, wept over by runaway ETFs, drowned in a billion liquidated, against a backdrop of farcical Sino-American disputes.
The world of crypto is based on constantly evolving market dynamics, where the perception of risk and return shapes investors' decisions. While Bitcoin struggles to maintain its support levels, a key technical indicator on Ethereum rekindles traders' enthusiasm. According to analyst Doctor Profit, ETH shows an exceptional risk-reward ratio, reinforcing expectations of a massive rise in the coming months. Between technical analysis and investor accumulation, the asset may well find itself at a strategic turning point.