Bitcoin Bulls Fight to Avoid New Lows as Stocks Stay Volatile

Bitcoin (BTC) stayed uncertain at Tuesday’s Wall Street open as US stocks responded to an earlier Asia tech sell-off. Key points: Bitcoin bulls attempt to avoid a deeper drop below local lows amid risk-asset volatility. Multiple factors are blamed for the current weakness and stocks reset, with Micron earnings due on Wednesday. Rolling crypto liquidations…

Sui Network Goes Down for Second Day in a Row

The Sui layer-1 blockchain experienced another disruption on Friday, causing a “network stall” that temporarily halted block production, before normal activity resumed, according to the Sui team. Network activity “may be paused,” the Sui team said. The network disruption lasted for over three hours and 30 minutes at the time of publication, according to the…

Buterin Says Ethereum Foundation Is Not the ‘Center’ of Ethereum

Ethereum co-founder Vitalik Buterin responded to growing criticisms of the Ethereum Foundation’s role in the Ethereum ecosystem, pushing back against critics who want the organization to take a more active role in supporting token prices and marketing. Buterin said the Foundation will continue to focus on promoting censorship-resistance, open source software code, long-range research, cybersecurity,…

EU Committee Advances Digital Euro CBDC Bill After Vote

The creation of an EU-issued digital euro moved a step closer Tuesday after a key European Parliament committee vote. The EP’s Economic and Monetary Affairs Committee (ECON) approved its position on the digital euro package with a 43–14 vote, according to an official announcement on Tuesday. Fernando Navarrete Rojas, a member of the European Parliament…

Bitcoin volatility looks cheap as $10 billion options settlement nears: Crypto Daily

“Call spreads remain attractive for anyone wanting recovery exposure into the post-quarterly reset. And now look even better on a relative-vol basis, since call spread longs are buying the cheaper wing of a skew that is leaning the other way,” he said. There are a number of factors that might drive volatility higher in the…

$54,000 Next? Bitcoin Traders Warn of “New Lows” Amid Asia Tech Rout

Bitcoin (BTC) neared two-week lows on Tuesday as Asia stock markets pulled back on a tech sell-off. Key points: Bitcoin heads lower with Asia equities as “unprecedented inflows” become a tech-driven rout. Analysis warns of “new lows” for BTC price, with one target at $54,000. Options markets continue to seek a suitable catalyst for volatility….

Vietnam Proposes Allowing SMEs to Use Digital Assets as Loan Collateral

Vietnam’s Ministry of Finance has proposed letting small and medium-sized enterprises (SMEs) use digital assets, virtual assets and intellectual property as collateral for bank loans. The proposal is part of a draft revised Law on Support for SMEs, which is open for public consultation, according to a Friday report by Vietnam News. Under the framework,…

Ethereum Whale Opens $100M Short, Unfazed by Buterin’s Vow to ‘Sell Less ETH’

A crypto whale opened a leveraged Ether (ETH) short position worth more than $100 million, even as Ethereum co-founder Vitalik Buterin pledged fewer token sales via the Ethereum Foundation. Key takeaways: The whale may face over $1 million in potential losses as the ETH price rebounds toward short liquidation levels. Buterin says the Ethereum Foundation…

US Senate Bans Federal Reserve CBDC in Housing Bill

The US Senate has passed housing legislation that includes a ban on the Federal Reserve creating or working on a central bank digital currency (CBDC) until 2030, which is expected to be quickly taken up and passed by the House. The Senate on Monday voted 85-5 to pass the 21st Century Road to Housing Act,…

Bitcoin Weekly Liquidations ‘Insane’ as Price Passes $65,000 on Oil Weakness

Bitcoin (BTC) passed $65,000 at Monday’s Wall Street open as exchange order-book liquidity dictated price moves. Key points: Bitcoin hits a new week-to-date high despite US stocks rolling over at the start of trading. Traders’ targets include a move toward $70,000 next. Liquidations are described as “completely insane” as both long and short BTC positions…