Cointelegraph

Tether, the company that issues the USDt dollar-pegged stablecoin, said Thursday that it froze more than $344 million in USDt at the request of US law enforcement officials. 

The company froze two wallet addresses at the request of US authorites for “activity tied to unlawful conduct,” according to Tether’s announcement.

Tether did not provide a specific reason for the asset freezes, but said that it freezes wallet addresses tied to “sanctions evasion, criminal networks, or other illicit activity.”

Source: Tether

“When credible links to sanctioned entities or criminal networks are identified, we act immediately and decisively,” Tether CEO Paolo Ardoino said. The stablecoin issuer did not immediately respond to Cointelegraph's request for further comment. 

Centralized stablecoin providers have a long history of freezing wallets tied to illicit activity, raising questions in the crypto community about the roles and responsibilities of crypto service providers to claw back illicit funds or assist law enforcement.

Crypto community debates ethics of wallet freezes

Following the Drift Protocol hack earlier this month, which saw the platform drained of $280 million, onchain sleuth ZachXBT criticized Circle for not freezing funds from the hack that were converted to the stablecoin issuer's USDC dollar-pegged token.

“Despite the attacker laundering funds over six consecutive hours across Circle's own native bridge, no USDC was frozen,” ZachXBT said following the hack, adding that centralized stablecoin issuers must do more to protect user funds following hacks and code exploits.

Others, like crypto media channel Truth for The Commoner (TFTC) were critical of Tether freezing the $344 million in stablecoins. “Your stablecoins are not your stablecoins. They never were,” TFTC said.

Source: TFTC

The debate follows at least a dozen hacks of decentralized finance platforms (DeFi) in April since the Drift Protocol hack, including the exploit of the Kelp restaking protocol. 

Kelp was drained of $293 million after malicious actors exploited the bridging contract used to manage the platform’s rsETH restaking token and transfer it across different blockchain protocols.

Magazine: Stablecoins will see explosive growth in 2025 as world embraces asset class

Bitcoin (BTC) has rallied 30% since its 2026 low of $60,000, and stablecoin balances on exchanges suggest the market has entered a disbelief phase, with roughly $7.5 billion in USDC on Binance highlighting readily deployable capital that traders could start positioning soon.

Negative funding rates fuel Bitcoin’s counter-trend

Data show that derivatives market positioning has not kept pace with the bullish price trend. Crypto analyst Darkfost tracked the 30-day cumulative funding rate, which aggregates funding over time to reveal sustained positioning. The metric stands near -4.5%, reflecting a prolonged bearish bias against the current move.

The analyst explained that the negative funding creates conditions that incentivize traders to take the opposite side.

Funding rates 30-day SUM on Binance. Source: CryptoQuant

A comparable phase emerged in late 2022, when Bitcoin began to recover from its bear market. The funding dropped to nearly -7% before the price extended higher.

This indicates a phase in which persistent short exposure provides fuel for continuation as the dominant positions are challenged. Darkfost added, 

“This context therefore indicates that the market has entered a phase of disbelief, where traders still prefer fighting the trend rather than following it.”

Related: Bitcoin buyers show ‘renewed conviction’ with BTC price push above $79K

USDC liquidity builds for redeployment on Binance

The liquidity trends reinforce that setup. Bitcoin has fallen roughly 36% from its October 2025 high at $126,000, marking a deep correction.

Circle’s USDC (USDC) reserves on Binance show a recovery following an earlier drawdown. The USDC balance dropped to nearly $4.5 billion in early March, then climbed back to $7.51 billion by April 21.

USDC balance on Binance. Source: CryptoQuant

From the November 2025 level of $8.32 billion, this still marks an 8.2% net decline, suggesting capital remains within the exchange rather than exiting it.

Market analyst CryptoOnChain explained that such behavior indicates sidelined funds waiting to enter. The stablecoin balances serve as available liquidity, or “dry powder,” that can be deployed quickly when the trader's conviction improves.

The exchange volumes add more context. Market analyst Maartunn noted that Binance has processed $1.09 trillion in trading volume in 2026 within 112 days. Other platforms trail, with MEXC at $284 billion, Bybit at $242 billion and Crypto.com at $219 billion.

The activity levels show traders are still engaged despite their cautious sentiment. With USDC reserves holding near $7.5 billion, the liquidity remains concentrated and available around key price zones.

Spot market leader in exchanges. Source: CryptoQuant

Related: Bitcoin chases monthly high above $80K as nearly all BTC price metrics turn bullish

MoonPay has launched fiat-to-stablecoin virtual accounts in New York, allowing businesses to convert incoming funds from bank rails such as ACH and SWIFT into stablecoins and settle them directly to non-custodial wallets through a single API.

The product is underpinned by technology provider Iron and allows platforms to issue named, dedicated accounts that receive fiat and automatically convert it into stablecoins, enabling payment, trading and treasury flows without relying on prefunded balances or multiple intermediaries.

The rollout in New York follows MoonPay’s acquisition of Iron in 2025 and builds on integrations with platforms including Deel and Paysafe, extending its stablecoin infrastructure across payroll and payments networks, according to Thursday's announcement.

MoonPay said it obtained a BitLicense, money transmitter licenses and a New York limited purpose trust charter from the New York State Department of Financial Services in 2025, allowing it to offer the service in one of the most tightly regulated crypto markets.

Source: MoonPay on X

The company said the accounts enable faster settlement and programmable payments by linking traditional banking rails with blockchain-based infrastructure through a single integration.

Stablecoins reduce reliance on prefunded accounts

Major payment companies and fintechs are increasingly integrating stablecoins into payment infrastructure to streamline cross-border transactions and reduce reliance on prefunded accounts.

On Tuesday, Singapore fintech Nium integrated USDC payments through Coinbase, allowing businesses to send, receive and convert stablecoins to fiat across more than 190 countries through a single platform.

The setup enables companies to fund cross-border payouts on demand using stablecoins and settle in either digital assets or local currencies, reducing the need to prefund accounts across multiple jurisdictions and streamlining global payment flows.

Card networks are also expanding stablecoin-linked payment infrastructure. In March, Visa and Stripe-owned Bridge rolled out stablecoin-linked cards across more than 100 countries and are testing onchain settlement that would allow transactions to be settled in digital assets rather than fiat. As of December 2025, Visa’s annualized stablecoin settlement run rate reached $4.6 billion, according to a company spokesperson.

Mastercard has also moved to expand its stablecoin capabilities, agreeing to acquire BVNK in a deal valued at up to $1.8 billion. The acquisition is aimed at strengthening its ability to connect traditional payment rails with blockchain-based transactions, supporting use cases including cross-border payments and business payouts.

The total stablecoin market capitalization stands at about $320 billion, according to DefiLlama data.

Stablecoin Market Capitalization Growth. Source: DefiLlama

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

More than 120 entities affiliated with the cryptocurrency and blockchain industry are urging US lawmakers to stop stalling on the advancement of a digital asset market structure bill.

In a Thursday letter to leaders in the US Senate Banking Committee, the Crypto Council for Innovation (CCI) and Blockchain Association said that the body should “proceed towards a markup of the CLARITY Act to provide a comprehensive federal market structure framework for digital assets.”

The legislation, expected to be one of the most significant laws to potentially impact the industry crypto, passed the House of Representatives in July 2025 but has been delayed due in part to government shutdowns and debates over stablecoin yield and other issues.

“Timely action is critical, as other major jurisdictions have already implemented comprehensive frameworks, and the absence of comparable US policy risks ceding both economic and strategic advantages,” said the letter. “The US needs a comprehensive market structure framework to support domestic digital asset innovation, or risk migration of investment, jobs, and technological development offshore.”

Source: CCI

The Senate Banking Committee, under chair Tim Scott, postponed a markup on the CLARITY Act in January hours after Coinbase CEO Brian Armstrong said that the company could not support the bill as written. Since that time, representatives from the banking and crypto industries have met with lawmakers to discuss issues within the bill — e.g. how to address stablecoin yield — and possible paths forward. 

As of Thursday, the banking committee had not publicly announced a new date for the bill’s markup. However, US Senator Thom Tillis on Monday called for committee leaders to consider postponing any markup until May to give crypto and banking representatives more time to discuss a compromise on stablecoin yield.

About 120 crypto companies and organizations signed onto the letter, including exchanges like Coinbase and Kraken, but also groups like the Texas Blockchain Council and Solana Policy Institute. It came just three days after the advocacy organization The Digital Chamber asked the banking committee to schedule a markup “as soon as the calendar allows”:

“We are now more than halfway through the 119th Congress, and it has been more than 270 days since the House passed the CLARITY Act with strong bipartisan support and we recognize the legislative window for this Congress is narrowing.”

Banking association asks for more, not less, time to address stablecoins

While the legislative path forward for crypto market structure was unclear as of Thursday, US government agencies have already begun rulemaking for the GENIUS Act, a stablecoin bill signed into law in July 2025.

On Tuesday, the American Bankers Association asked four US government agencies responsible for GENIUS regulations for 60 additional days to comment after the Office of the Comptroller of the Currency finalized its rules. The request, if granted, would likely delay full implementation of the stablecoin bill.

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

It's been a volatile week for the shares of Figure Technology Solutions as crypto-linked stocks react to shifting investor sentiment and early signs of a broader market rebound.

FIGR stock fell more than 9% in early Thursday trading, slipping back to the mid-$32 range after climbing near $37 earlier in the week. The earlier gains were driven by momentum in crypto-related equities and growing investor interest in companies tied to blockchain-based lending.

Today's decline extended Figure's more than 20% year-to-date slide, reflecting ongoing uncertainty around both crypto markets and higher-growth technology stocks. The sharp swings highlight how sensitive the stock has become to changes in market sentiment. 

Figure Technology Solutions (FIGR) stock opens sharply lower on Thursday. Source: Yahoo Finance

Despite renewed volatility, Figure has attracted positive coverage from Bernstein, which said the stock is undervalued given its tokenized credit platform and growing loan volumes. Bernstein assigned Figure a $67 price target, implying roughly 2x upside from current levels.

Figure Technology is a fintech company that uses blockchain to originate and manage consumer loans, including home equity products. CEO Michael Tannenbaum recently revealed that the company processed more than $1 billion in monthly volume for the first time. 

Source: Michael Tannenbaum

Crypto market sentiment shift underway

Figure is not alone in seeing volatility this year, as crypto-linked stocks have been pressured by falling digital asset prices and shifting risk sentiment tied to geopolitics and interest rates. 

However, a separate Bernstein note said many of these names, including Robinhood Markets, Circle and Coinbase, along with Figure, may be nearing a bottom or have already bottomed ahead of first-quarter earnings. At their lowest, these and other crypto stocks were down more than 50% from last year's highs.

That shift has coincided with a rebound in crypto prices, with Bitcoin recently climbing toward $80,000 and Ether moving above $2,400.

Figure expects to release Q1 earnings on May 11, after the market close. The average forecast is for earnings of $0.22 per share, on revenue of $160.3 million, according to Yahoo Finance.

Raliul de 33% al Ether (ETH) de la minimele sale istorice sub $1,800 pare să se răcească, dar mai mulți indicatori cheie sugerează că altcoin-ul de top este pregătit pentru un raliu mai mare către $6,000 sau mai mult.

Punctele cheie:

Ether afișează în prezent un setup tehnic similar cu ciclurile anterioare care au aprins un raliu masiv în prețul ETH.

Potencialul de constrângere a ofertei crește pe măsură ce acumularea în creștere și ieșirile de pe exchange-uri reduc presiunea de vânzare imediată.

Un premium în creștere pe Coinbase reflectă revenirea cererii instituționale din SUA.

Bitcoin (BTC) a alunecat de la cele mai mari niveluri din ultimele trei luni joi, pe măsură ce atenția s-a îndreptat spre închiderea săptămânală.

Puncte cheie:

Bitcoin retrasează după cea mai recentă călătorie la cele mai mari niveluri din câteva luni.

Închiderea săptămânală a lumânării viitoare este deosebit de interesantă, deoarece prețul își îndreaptă atenția spre banda de suport a pieței bull.

O perioadă de stagnare macroeconomică vine înainte de o avalanșă de date despre inflația din SUA săptămâna viitoare.

Banda de suport a pieței bull Bitcoin revine după șase luni.

Datele de la TradingView arată că BTC/USD a scăzut la $77,200 înainte de deschiderea de pe Wall Street.

Poliția spaniolă a confiscat două wallet-uri cold crypto conținând aproximativ 400,000 de euro ($467,000) în timpul unei razii pe ceea ce autoritățile au descris ca fiind cea mai mare platformă ilicită de distribuție de manga în limba spaniolă din țară.

Poliția din Almería a arestat trei suspecți și a confiscat două wallet-uri cold ascunse într-un termometru de perete, confiscate din ceea ce autoritățile au numit cel mai mare portal pentru distribuția ilegală de manga care a generat peste 4 milioane de euro ($4.6 milioane) în ultimul deceniu, conform Ministerului de Interne din Spania.

The FTX bankruptcy estate sold a 5% stake in AI coding startup Cursor for $200,000 in April 2023, missing out on roughly $3 billion after the company was valued at $60 billion in a SpaceX-linked deal this week.

On Wednesday, SpaceX said it has secured the right to acquire Cursor later this year at a $60 billion valuation, or alternatively pay a $10 billion breakup fee if the transaction does not proceed.

That valuation sharply revalues FTX’s earlier position in the company, which traces back to April 2022 when Alameda Research, a quantitative trading firm also founded by Sam Bankman-Fried, invested $200,000 in Anysphere, the startup behind Cursor. The investment reportedly secured about a 5% equity stake at a $4 million valuation.

One year later, FTX had collapsed, Alameda was in bankruptcy, and the court-appointed estate moved to liquidate assets. Among those sales was the Cursor stake, which was sold for the same $200,000 originally invested. At today’s implied valuation, that same stake would be worth around $3 billion.

FTX estate faces scrutiny over early asset sales

The missed upside adds to ongoing scrutiny of how the FTX estate handled asset sales during bankruptcy proceedings. Bankman-Fried, who is currently serving a 25-year federal sentence, has repeatedly argued that the estate destroyed significant value by liquidating positions too early and at depressed prices.

“FTX was never bankrupt. I never filed for it,” Bankman-Fried wrote on X earlier this year. “The lawyers took over the company and 4 hours later, they filed a bogus bankruptcy so they could pilfer it for money,” he added.

FTX creditors have since been repaid in dollar terms under the restructuring plan, receiving their claim values plus interest.

Bankman-Fried was convicted on multiple federal charges including fraud and conspiracy after prosecutors argued he orchestrated one of the largest financial frauds in US history. He was found guilty of misappropriating billions of dollars in customer funds from FTX by funneling them to Alameda Research, making risky investments, political donations and personal expenditures.

FTX missed $114 billion in potential value

An analysis from financial research platform Bull Theory estimates that key positions sold early by the FTX estate could now be worth about $114 billion if they had been held through recent market cycles.

AI startup Anthropic tops the list, where an 8% stake purchased for $500 million would now be worth over $80 billion following a 165x increase. Moreover, SpaceX is estimated to account for a $15 billion valuation impact from early liquidations, alongside Solana at $5.1 billion after a reported 27x move, Robinhood at $4.9 billion and Genesis Digital at $3.5 billion.

“SBF was a genius at picking generational winners and a criminal at managing their money,” Bull Theory wrote on X, noting the estate ultimately recovered about $18 billion for users despite leaving significant upside on the table.

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

Cryptocurrency exchange OKX is accelerating its push into the United States by rolling out off-exchange settlement for its US institutional clients.

OKX has integrated the Off-Exchange Settlement (OES) platform by publicly listed digital asset custodian BitGo, the company said Thursday in an announcement shared with Cointelegraph.

The integration enables institutional clients to trade on OKX while keeping assets secured in BitGo’s cold custody, aiming to eliminate pre-funding requirements and improve capital efficiency.

“Institutional capital entering crypto requires capital to be protected and to be put to work,” OKX US CEO Roshan Robert told Cointelegraph. “Our proprietary custody infrastructure has been proven at scale, and our partnership with BitGo gives clients flexibility in how they protect assets while freeing capital to work harder,” he said.

The development marks a broader industry push to improve security and liquidity access by raising custody standards and securing partnerships with major custodians.

OKX’s first US steps after ICE took stake in the exchange

The integration with BitGo is among OKX’s first US institutional infrastructure steps since Intercontinental Exchange invested in the company at a $25 billion valuation in early March, with ICE executives taking a board seat at the exchange.

OKX Global CEO Star Xu then said the partnership would shape the platform’s approach to the US, adding that the company viewed its local presence as a “blank sheet of paper.”

The investment came about a year after OKX officially reentered the US in April 2025, alongside the appointment of former Barclays director Roshan Robert as its US CEO.

Addressing the BitGo integration, Xu emphasized that safeguarding customer assets has always been a foundation to OKX. “At the same time, we've expanded our custody partnerships with trusted leaders like BitGo to give clients greater flexibility and choice in how they secure their assets,” he added.

BitGo has disclosed risks tied to its off-exchange settlement platform

BitGo has operated its off-exchange settlement platform for at least a couple of years, acting as custodian and settlement facilitator for digital asset transactions executed on third-party exchanges.

Despite the operational efficiencies provided by its OES platform, BitGo said it still faces multiple categories of risk, including operational, regulatory and counterparty risks.

“Operational risks associated with our OES services include potential errors in processing trade data, delays or failures in asset transfers, employee or insider misconduct, cybersecurity incidents, technological disruptions and reconciliation errors,” the company said in its IPO filing in January.

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

Exploatatorul din spatele hack-ului de aproximativ 293 milioane $ Kelp DAO pare să fi spălat aproape tot Ether-ul neliberat furat în atac, restrângând eforturile de recuperare la tranșa pe care consiliul de securitate Arbitrum a reușit să o blocheze.

Hackerul de la Kelp Dao pare să fi spălat aproape toti cei 75,700 Ether (ETH) furați din protocol sâmbătă. Hackerul a folosit în principal THORChain pentru a schimba Ether-ul în Bitcoin (BTC), generând aproximativ 910,000 $ în venituri din taxe pentru protocol, conform analistului blockchain EmberCN într-o postare X de joi.

Flying Tulip, o platformă de finanțe descentralizate (DeFi) fondată de dezvoltatorul DeFi Andre Cronje, a adăugat un circuit breaker care poate întârzia sau pune în așteptare retragerile în timpul fluxurilor anormale, pe măsură ce pierderile DeFi din aprilie au crescut în urma unei serii de exploatări majore.

Conform documentației Flying Tulip, mecanismul este conceput pentru a încetini ieșirile de fonduri din protocol dacă capacitatea de ieșire este depășită, oferind echipei timp să investigheze activitățile suspecte și limitând cât de mult ar putea fura un atacator în cel mai rău scenariu.

US-listed spot Bitcoin exchange-traded funds (ETFs) have been gaining momentum amid Bitcoin’s price recovery, showing steady inflows since mid-April.

Spot Bitcoin (BTC) ETFs logged $335.8 million in inflows on Wednesday, marking the seventh consecutive day of inflows, according to Farside data.

During the inflow streak, the ETFs drew around $1.9 billion in total inflows, surpassing the previous seven-day inflow streak in March, which totaled $1.2 billion.

According to Wallet Pilot data, Bitcoin ETFs hold a combined 1.3 million Bitcoin in assets under management, worth around $103 billion.

The steady inflows to Bitcoin ETFs were accompanied by a rising BTC price, which has surged 11% over the past 30 days. BTC briefly rose above $79,000 on Wednesday, its first time reaching that level since late January, according to CoinGecko.

BlackRock leads inflows at $1.4 billion as Morgan Stanley fund adds to streak

Out of $1.9 billion in the latest inflow streak, BlackRock’s iShares Bitcoin Trust ETF (IBIT) accounted for more than 73% of all the inflows at $1.4 billion. The fund holds 809,870 Bitcoin, accounting for 62% of total AUM in US-listed spot Bitcoin ETFs.

The Morgan Stanley Bitcoin Trust (MSBT) strongly contributed to the momentum, posting $95 million within the total streak. Notably, the fund itself has not yet seen a single day of outflows, generating $163 million since launch on April 8.

Daily spot Bitcoin ETF inflows since April 14. Source: Farside.co.uk

Still, several funds have clocked losses during the past seven trading sessions. The Grayscale Bitcoin Trust ETF (GBTC) led redemptions during the period, with net outflows of around $100 million.

Ether (ETH), the second-largest crypto asset by market capitalization, has also been gaining traction in US-listed spot ETFs, with these funds posting a 10-day inflow streak totaling $633.6 million, according to Farside.

Last week, broader ETH investment products recorded their strongest week since January, finally flipping to positive flows year-to-date, according to CoinShares.

The ongoing recovery in spot markets came as the Crypto Fear & Greed Index surged to 46 for the first time since late January. Still, the index remains in “fear” territory, as Bitcoin remains down about 11% year-to-date

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

MetaMask co-founder Dan Finlay is stepping down from ConsenSys after more than a decade working on the popular self-custody wallet, citing burnout and a desire to spend more time with his family.

In a Thursday post on X, Finlay announced his decision and said that he wishes the MetaMask team “the best,” and believes they “have an amazing road ahead of them.” 

Finlay has been one of the most visible faces of MetaMask since its early days as a browser extension in the 2010s, helping the wallet grow into a default gateway to Ethereum (ETH) and other Ethereum Virtual Machine (EVM)-compatible networks.

Over that period, MetaMask became a key piece of infrastructure for decentralized finance (DeFi), non-fungible token (NFT) trading and token launches, and Finlay became one of the wallet industry’s most recognizable public voices.

Finlay’s departure sparked a flurry of comments from followers and colleagues, such as Uniswap founder Hayden Adams, who wrote, “appreciate all you've done for the space, good luck in whats next!”

His exit also comes as MetaMask moves further into smart accounts and advanced permissioning, a shift aimed at making onchain activity safer and more flexible for mainstream users. 

Finlay’s resignation part of broader tech pattern

Finlay is not alone. As crypto infrastructure becomes more institutional and product roadmaps extend over multiple years, some of the industry’s earliest public faces are shifting away from front-line positions.

Dan Finlay steps down from ConsenSys. Source: Dan Finlay

On Wednesday, Bitcoin (BTC) advocate, podcaster and investor Preston Pysh told followers he is stepping back from public work, including his podcast, social media presence and venture investing, to focus on his wife and children.

Pysh, known for years of commentary on Bitcoin’s macro case and for helping translate the asset to traditional value investing audiences, framed the move as a personal decision after years of public work, and thanked listeners and readers for “a blessing you all have been.” 

Like Finlay, he did not signal any loss of faith in the sector itself, but a rebalancing of priorities after years in the spotlight.

Their decisions echo a broader pattern across tech, where long-serving executives at companies such as Apple and GitHub have handed over day-to-day responsibilities after lengthy runs in senior roles. 

At Apple, long-time chief operating officer Jeff Williams, seen for years as Tim Cook’s likely successor, decided to retire in 2025 after more than a quarter-century at the company, triggering a broader leadership reshuffle. 

At GitHub, CEO Thomas Dohmke announced in August 2025 that he would step down by the end of the year to “become a founder again” after almost four years running the Microsoft-owned developer platform through the launch of GitHub Copilot.

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

Festivalul de top al industriei va găzdui 20,000 de participanți, fuzionând integrarea puternică a finanțelor tradiționale cu viața de noapte inegalabilă din Miami.

MIAMI, FL, 23 APRILIE 2026, Comunicat de presă – Între 5 și 7 mai, Consensus Miami – cea mai de lungă durată și influentă întâlnire pentru activele digitale – va aduna 20,000 de participanți din peste 100 de țări, inclusiv reprezentanți de la peste 200 de companii Fortune 500. Evenimentul marchează, de asemenea, revenirea Solana Accelerate în SUA, unind peste 3,000 de dezvoltatori, executivi și decidenți. Determinat de un moment instituțional masiv și de o revenire extrem de anticipată în SUA, evenimentul se conturează ca una dintre cele mai semnificative întâlniri globale pe care industria le-a văzut până acum.

Bitcoin (BTC) rallied past $79,000 during the New York trading session on Wednesday as buying pressure strengthened. Meanwhile, BTC supply on exchanges continues to drop, reducing sell-pressure, a new analysis said.

Key takeaways:

Bitcoin price taps $79,000 as onchain data shows signs of returning demand. 

Bitcoin supply on exchanges continues to drop as long-term holders accumulate.

Bitcoin buyers on Binance are back

Bitcoin’s cumulative net taker volume suggests buyers are stepping in as demand for BTC derivatives on Binance returned, data from CryptoQuant shows.

Cumulative net taker volume, a metric that measures the running total of the difference between aggressive buyer and seller volume in Bitcoin futures, has risen to $9.2 billion on Binance, its highest level since February.

In other words, buyers are once again “stepping in aggressively and absorbing available sell-side liquidity,” CryptoQuant analyst Amr Taha said in a Wednesday QuickTake note.

This positive regime coincided with the latest BTC price rally above $79,000, indicating that demand has returned across derivatives markets. 

“When aggressive buying returns to this kind of level, it usually points to renewed conviction from market participants,” Taha said, adding:

“As long as this demand profile remains firm, buyer control on Binance continues to support the broader bullish structure.”

Bitcoin: Binance Cumulative Net taker volume. Source: CryptoQuant

The 90-day Futures Taker cumulative volume delta (CVD), a metric that measures the difference between buy and sell volume over a three-month period, further reinforces this picture. 

It has been increasing steadily since late March, as shown in the chart below.

“This sustained rise confirms that aggressive market participants are consistently hitting the ‘Ask’, ” CryptoQuant analyst Abdullah Zia said, adding:

“This is a high-conviction signal showing that demand is actively absorbing any available sell-side liquidity in the futures market.”

Bitcoin futures taker CVD. Source: CryptoQuant

Meanwhile, demand for spot Bitcoin exchange-traded funds (ETFs) continues, with these investment products recording seven consecutive days of inflows, totaling $1.9 billion.

Spot Bitcoin ETF flows TABLE. Source: Farside Investors

As Cointelegraph reported, several Bitcoin metrics are turning bullish, including the bull score index hitting six-month highs, indicating a possible beginning of BTC’s new bull market.

Bitcoin supply on exchanges tightens

CryptoQuant’s exchange reserve data highlighted signs of supply tightening, as BTC balance on Binance “continues to decrease significantly.”

The chart below shows that the Bitcoin supply on Binance has dropped to about 618,300 BTC from around 675,000 in early January. 

Such low levels have historically marked BTC macro bottoms as seen in late 2022, early 2024 and mid-2025.

When the supply on exchanges contracts at market bottom levels, it could mean “investors holding onto Bitcoin instead of selling and transferring it to personal wallets for storage, making the market more scarce,” CryptoQuant analyst Rei Researcher said in a QuickTake note on Wednesday, adding:

“This often leads to a sharp price increase in the next bullish cycle.”

Bitcoin supply on Binance. Source: CryptoQuant

Additional data also reflects accumulation phase conditions, as long-term holders (LTHs), investors who have held Bitcoin for more than 155 days, ramped up buying.

The LTH net position change has been positive since March 1, with about 130,000 BTC bought over the past 30 days.

Bitcoin LTH net position change. Source: Glassnode

If this trend continues, the market could be entering another phase where constrained supply and “higher demand drives up the value of BTC,” the analyst added.

Futures-urile pentru Ether (ETH) pe Binance au crescut la un maxim de aproape două luni, pe măsură ce cumpărătorii agresivi au intrat pe piață în ultima săptămână. Volumul de taker pentru cumpărare a depășit 5 miliarde de dolari, iar configurația actuală sugerează că rally-ul ETH este pregătit să continue.

Pe Binance, volumul net cumulativ de taker pe 24 de ore a ajuns la 5,5 miliarde de dolari, crescând cu 72% față de 3,2 miliarde de dolari la începutul lunii. Această metrică urmărește diferența dintre ordinele de cumpărare și vânzare pe piață, indicând cine conduce acțiunea prețului.

Volumul net cumulativ de taker pentru ETH pe Binance. Sursa: CryptoQuant

Key takeaways:

US government bailout plans and currency swap lines with the UAE are easing global liquidity fears and lowering credit crisis risks.

Record Bitcoin ETF inflows and rising BTC miner profits suggest strong bullish momentum despite the ongoing war in Iran.

The total cryptocurrency market capitalization surged to an 11-week high on Wednesday as Bitcoin (BTC) climbed to $79,000 and Ether (ETH) reached $2,400. The bullish momentum occurred as investors grew more confident that immediate US recession risks were fading, despite sustained high oil prices resulting from the war in Iran.

Traders are now weighing whether Bitcoin and Ether are destined for further gains or if a short-term correction is imminent given that economic recession risks persist.

Nasdaq 100 futures (left) vs. Total crypto market capitalization, USD (right). Source: TradingView

The tech-heavy Nasdaq-100 index reached a record high on Wednesday as traders awaited Tesla (TSLA US) quarterly earnings. Brent crude prices rose 9% over two days after reports indicated Iran targeted two vessels in the Strait of Hormuz. Elevated energy costs increase the likelihood of economic stimulus, providing a temporary buffer for risk assets.

US liquidity plans and Bitcoin ETF inflows may offset recession fears

US President Donald Trump reportedly stated during a CNBC interview that “the federal government should help” Spirit Airlines, a budget carrier that has experienced bankruptcy twice since 2025. The Trump administration previously provided capital to chipmaker Intel (INTC US), utility Southern Company (SO US) and defense contractor L3Harris (LHX US).

Direct US government intervention in private firms and the US Treasury signals that credit lines for allies have eased liquidity concerns. US Treasury Secretary Scott Bessent noted Wednesday that both the US and the United Arab Emirates would benefit from a currency swap line intended to “maintain order in the dollar funding markets.”

US allies are facing pressure to sell US bonds to raise dollars for local defense, imports and liquidity amid the collapse of oil revenue and disruptions in the Strait of Hormuz. Potential currency swaps ease these dollar shortages, preventing a spike in US Treasury yields. The overall impact includes lower borrowing costs and a reduced risk of an immediate credit crisis.

Six consecutive days of inflows into US-listed Bitcoin exchange-traded funds (ETFs), totaling $1.54 billion, have likely boosted sentiment. The successful launch of the Morgan Stanley Bitcoin Trust (MSBT US), which reached $145 million in total net assets in under three weeks, improved Bitcoin’s risk perception despite global socio-economic uncertainty.

US-listed spot Bitcoin ETFs daily net flows, USD. Source: SoSoValue

Bitcoin miner profitability eases short-term sell pressure

As Bitcoin price neared $79,000, miner profitability hit its highest level since January, according to Luxor’s Hashprice Index. 

Bitcoin miner daily expected earnings per terahash, USD. Source: HashRateIndex

Miners recently gained attention as firms sold significant Bitcoin holdings to fund investments in data centers and AI infrastructure. Examples include MARA Holdings (MARA US), Riot Platforms (RIOT US), Core Scientific (CORZ US) and Cango (CANG US). While higher profitability does not guarantee reduced selling pressure from miners, the bullish momentum creates an incentive to accumulate. 

Ultimately, a short-term correlation with US stock markets continues to dictate cryptocurrency trends; therefore, the war in Iran and tech earnings remain decisive for trader sentiment.

As the US government signals that stimulus measures will be used to secure liquidity and address credit concerns, Bitcoin and Ether appear primed to sustain their upward momentum.

Bitcoin (BTC) reached a monthly high of $79,472 on Wednesday, marking its strongest 28-day return since April 2025. The rally aligns with a shift in a market positioning metric and a surge in leverage use. 

A combined view of the market positioning metric and open interest shows new positions are being added, potentially influencing BTC’s push toward new highs.

BTC positioning builds with rising leverage

Bitcoin researcher Axel Adler Jr. said that the Bitcoin positioning index has turned higher, with its 30-day average rising to 4.5 from -10.9 in February. The indicator blends net taker flow direction, open interest trends, funding and the exchange balance into a single metric. 

Bitcoin positioning index. Source: CryptoQuant

Its steady climb since late March, from 0.4 to current levels, shows a consistent improvement without breaking the price trend.

The growth in open interest confirms the same trend. The 30-day change stands at +14.5%, with 23 of the past 30 sessions closing positive. The rising positioning alongside expanding open interest signals new capital entering derivatives markets.

BTC open interest 30D change. Source: CryptoQuant

Over the past 24 hours, aggregated open interest rose 6.7% to 260,000 BTC, while leverage declined by 10.7% over the weekend, suggesting recent deleveraging before the latest positioning build.

Related: Bitcoin Bull Score hits six-month high as 2022 bear-market fears linger

Key BTC levels to watch

Bitcoin has moved above a descending trendline dating back to the October 2025 peak near $126,000 and has reclaimed the 100-day exponential moving average (EMA). This indicates a strong shift in trend from bearish to neutral-to-bullish on the higher time frame. 

The $81,000 level now serves as the first test area, with a small fair-value gap indicating a liquidity imbalance, where a price hold would signal that buyers are accepting higher prices.

BTC/USDT on the daily chart. Source: Cointelegraph/TradingView

Above that, $88,000 stands as the supply zone tied to prior distribution. The $88,000–$91,000 range stands out as a key supply zone, shaped by a prior distribution phase when large volumes of Bitcoin last changed hands. 

Many of those holders are now sitting near break-even or in slight profit, which typically increases activity when the price revisits that area.

Adding to this, the realized price of the three–to-six–month holder cohort sits at $91,600, further reinforcing this zone as a major decision point.

A sustained move through this range would signal strong demand, showing that buyers are absorbing overhead supply and setting the stage for Bitcoin price to move higher.

Crypto analyst Crazzyblockk highlighted a tight range, with the $72,000–$75,000 zone acting as a floor, supported by clusters of realized prices from mid-term holders. A break below this band would push more supply into loss, increasing the risk of reactive selling.

BTC: age-band realized price distribution. Source: CryptoQuant

On the upside, the $83,000–$85,000 marks a profit-taking zone for recent short-term holders. Price strength through this range would signal that buyers are absorbing the supply, allowing momentum to build.

Related: ‘Powerful move’ looms for Bitcoin price, says Bollinger Bands indicator

Bursa de criptomonede OKX își accelerează expansiunea în Statele Unite prin lansarea soluției de decontare off-exchange pentru clienții instituționali din SUA.

OKX a integrat platforma Off-Exchange Settlement (OES) de la custodele de active digitale listat la bursă BitGo, a declarat compania joi într-un anunț împărtășit cu Cointelegraph.

Integrarea permite clienților instituționali să tranzacționeze pe OKX, păstrând în același timp activele în securitate în custodia rece BitGo, având ca scop eliminarea cerințelor de prefinanțare și îmbunătățirea eficienței capitalului.