Willy Woo: $58.9k STH support, if this breaks we move to a bear market. We flushed out long leverage down to $60k. To liquidate lower, price would have broken the formidable $59k STH support, and a strong sign of a bear market. More likely short liquidations to 71-75k is next.

The public consultation on Hong Kong's OTC licensing system ended last Friday, but it only covers Bitcoin and Ethereum. Industry associations have called on officials to exempt USDT and USDC. Some practitioners are also opposed to the proposal to strengthen KYC review for a minimum transfer of HK$8,000.

This week the UK and Eurozone will release March CPI. Federal Reserve Chairman Powell will participate in a Q&A on April 16. In addition, the Vice Chairman, Governors, Voting Committee, etc. of the Federal Reserve will announce more than 4 updates.

Guy Ficco, director of criminal investigations of the Internal Revenue Service (IRS), recently stated that cryptocurrency tax evasion cases are expected to be on the rise this year. The IRS is currently ready to crack down and is cooperating with the blockchain analysis company Chainalysis and several other law enforcement agencies.

Recently, the median Ethereum Gas has been as low as 12.5 gwei, which is the lowest level this year. Ethereum Gas is currently at 8 gwei, according to @hildobby_ dune. There has been relatively more activity on blockchains such as Solana and Base recently.

Asia's weekly TOP10 crypto news: Iran attacks Israel causing cryptocurrency prices to fall, HashKey to Launch Offshore Exchange, Vietnam says it will not ban cryptocurrencies and Top10 News (0408-0414)

In response to some data websites disclosing that Ethena's profit this week was negative, Ethena officials stated that the income paid to sUSDe this week was $1.4 million; Ethena's additional income this week was about $3 million, which is usually transferred to the insurance fund wallet (0x2b...d4d5) every weekend, but this week due to the delay in the transfer to the contract, the relevant data websites calculated differences, and it is expected to be transferred tomorrow. The Ethena team is currently communicating with data websites such as DeFiLlama to correct this difference.

The BNB trading pair trends of the past 10 Binance Launchpool projects within 14days and the average yield trend of these 10 tokens was calculated, the theoretical average best selling point is 9 days and 11 hours after the opening, at which point the highest average yield can reach 8.7%, according to @0xKillTheWolf.

QCP: The Iranian attack on Israel has caused panic in the market. It is likely that BTC was used as a weekend proxy macro hedge and therefore bore the full brunt of the immediate risk-off reaction. It is worth noting that historically, buying the dip on the outbreak of major geopolitical conflicts has been a profitable trade.

According to Parsec, in the past 24h, the liquidation volume on the DeFi exceeded $120 million, the highest point during the year. In addition, the liquidation volume of the on-chain future exchange (GMX+Kwenta+Polynomial) reached $74.6 million.

Axios: U.S. President Biden told Israeli prime minister Benjamin Netanyahu during a call on Saturday that the U.S. will oppose any Israeli counterattack against Iran. U.S. will not participate in any offensive operations against Iran and will not support such operations.

Curve founder Michael Egorov also faced liquidation of his lending positions as CRV fell to $0.42. Michael mortgaged a total of 371m CRV (approximately $156 million) through 5 addresses on 6 lending platforms to borrow $92.54m in stablecoins. The health rate has dropped to around 1.1.

According to ZachXBT, the fraud team that stole tens of millions of dollars from Magnate, Kokomo, Lendora, Solfire and others deployed a new project Leaper Finance on Blast and started providing liquidity with about $1 million in funds laundered in previous rugs.

As Iran attacked Israel for the first time in history, risk assets fell sharply. Ethereum fell to as low as $2,852 in the past 4h, and Bitcoin fell to as low as $60,660. The liquidation amount reached $711 million within 4h. But Iran subsequently announced the end of military operations, and cryptocurrencies began to rebound sharply.

Today, Whale Alert said that 48,632 ETH were transferred from an unknown wallet to Binance, worth $158 million. After verification, the address should be the address where Binance receives the income from staking ETH. The address received a total of 866,000 ETH from 1.96 million withdrawals.

WuBlockchain Podcast: EP-09 Bitcoin Halving: The Unprecedented Bitcoin Demand @jjcmoreno Youtube Apple Podcasts Spotify

QCP: Overnight, the macro trigger was the threat of Iranian retaliation to Israel which caused a sell-off across all risk assets. The market was caught off guard by this move with perp funding driven to negative to (over -40%), the deepest it's been this year. Even though we are about a week out from BTC halving, BTC might struggle to break out of this defined range in the short-term (64k-73k).

Weekly Project Updates: EigenLayer Mainnet Launches, Base NFT Trading Volume Hits New High, Jupiter Set for Major Update, etc

According to VnExpress, Vietnamese officials said that cryptocurrencies are not banned in Vietnam, but it is necessary to develop a legal framework. The government has instructed the State Bank of Vietnam to study cryptocurrencies and virtual assets to prevent them from being used for money laundering, and has tasked the Ministry of Finance to develop a legal framework for them by May 2025.

Several issuers of Bitcoin ETFs in Hong Kong told WuBlockchain that southbound funds from mainland China are definitely unable to buy cryptocurrency ETFs, and the Matrixport report is false. An earlier Matrixport report indicated that Bitcoin spot ETFs listed in Hong Kong are expected to attract up to US$25 billion in capital inflows from mainland Chinese investors through the southbound trading.