The Cryptonomist

Russian authorities are rethinking digital currency policy, with a russian stablecoin now under consideration amid rising crypto usage and mounting sanctions pressure.

Bank of Russia reopens debate on fiat-pegged stablecoins

The Bank of Russia will reassess its conservative stance on fiat-linked tokens and examine the feasibility of issuing a domestic stablecoin in 2026. The initiative marks a notable shift for the regulator, which has long opposed such instruments, even as other jurisdictions moved ahead with their own national stable assets.

The plan was outlined by First Deputy Chairman Vladimir Chistyukhin during a conference hosted by Alfa-Bank, Russia’s largest private bank. He acknowledged that, until now, the central bank has rejected proposals for a national stable asset, preferring strict controls over digital money and favoring the development of a digital ruble.

However, Chistyukhin signaled that the regulator is ready to take a fresh look at the issue. Speaking at the Alfa Talk event, held under the banner “Digital Financial Assets: New Market Architecture” and quoted by TASS, he said the central bank would analyze foreign experience before making a final decision.

“We plan to conduct a study this year to reassess the situation,” Chistyukhin said. “Indeed, our traditional position is that this is not allowed but taking into account the practices of a number of foreign countries, we will reassess the risks and prospects here and will also submit this for public discussion.” Moreover, the study is expected to frame options for possible issuance and market integration.

From blanket opposition to regulated crypto markets

The new stance follows a broader transformation in Russia’s approach to cryptocurrencies. For years, the main financial regulator pushed back strongly against open circulation of digital assets, arguing that private coins threatened financial stability. Instead, it focused on promoting a central bank digital currency, the digital ruble.

However, in 2025 the central bank began softening its position. First, it launched an experimental regime for crypto transactions, allowing limited pilot operations. Then, last spring, it permitted investments in crypto derivatives, signaling a willingness to integrate digital assets into the financial system under tight supervision.

Towards the end of December, regulators unveiled a new conceptual framework for comprehensive crypto regulation. The policy paper envisages recognizing decentralized cryptocurrencies like Bitcoin, as well as various stablecoins, as “monetary assets” under Russian law. That said, the framework also seeks to channel activity through licensed entities.

Under the proposed rules, residents would gain broader access to these instruments, including business use cases. Although the Russian ruble is expected to remain the only legal tender, authorities plan to license platforms such as digital asset exchanges. As a result, new crypto-related services would appear in the domestic market, creating formal channels for trading and settlement.

Sanctions environment accelerates domestic stablecoin debate

The renewed interest in a potential russian stablecoin comes as Western governments intensify pressure on Russian crypto transactions. Sanctions authorities are increasingly targeting intermediaries and jurisdictions suspected of helping Moscow route payments outside the traditional banking system.

The upcoming 20th sanctions package under discussion in the European Union places particular emphasis on curbing Russia-linked digital asset flows. In addition, the measures are designed to hit third countries and institutions believed to be assisting Moscow in bypassing restrictions on its financial movements.

For example, the EU is preparing sanctions against two banks in Kyrgyzstan accused of processing crypto-related transfers for Russian clients. Moreover, Brussels is expanding its watchlist to include platforms and service providers associated with ruble-linked digital tokens used in cross-border deals.

Rise of A7A5 and Kyrgyz infrastructure

One major focus for Western regulators is the A7A5 token, a ruble-referenced stable asset with infrastructure outside Russia. The Central Asian state of Kyrgyzstan hosts the issuer of the ruble-pegged coin, which has quickly become a systemically important instrument for cross-border settlement.

The token is issued by Old Vector, a Kyrgyz-registered company, while the project itself was created by the Russian firm A7. This structure has placed the ecosystem and its infrastructure in the crosshairs of Western sanctions, even as Russian users seek alternatives to traditional payment rails.

Launched in early 2025, A7A5 has reportedly processed transactions worth over $100 billion in its first year of operation. According to DeFiLlama, its capitalization now exceeds $500 million, making it the largest non-dollar stablecoin currently on the market. However, this rapid growth has heightened official scrutiny both inside and outside Russia.

Despite the absence of dedicated stablecoin legislation, Moscow’s financial authorities moved in September to categorize A7A5 as a “digital financial asset.” That classification allows Russian companies to use it for international settlements, effectively embedding the token into corporate payment flows. Platforms linked to A7A5 have already been sanctioned by the EU, the U.S. and the U.K., underscoring the geopolitical sensitivity around ruble-linked crypto.

Domestic crypto activity surges despite constraints

While foreign-based instruments draw international attention, onshore crypto activity in Russia is also expanding quickly. The Ministry of Finance recently disclosed that daily crypto turnover by Russian participants has reached 50 billion rubles, or nearly $650 million. Moreover, officials suggest that actual volumes could be even higher when unreported trades are considered.

Usage is no longer limited to sophisticated traders or large corporates. Crypto has been spreading among ordinary Russians as well, who face increasingly tight restrictions on traditional financial channels because of the war in Ukraine. As foreign banks close accounts and new controls on fiat movements appear at home, digital assets offer an alternative route for savings and transfers.

Within this changing environment, a russian stablecoin backed or overseen by the Bank of Russia could serve multiple policy goals. It might give regulators greater visibility over flows that currently move through less transparent instruments, while still enabling international settlements and domestic payments under sanctions. However, any design would have to balance compliance, usability and geopolitical risk.

Outlook for Russia’s stablecoin policy

The forthcoming bank of russia study on fiat-backed tokens is expected to weigh these trade-offs in detail. A key question will be whether a domestically issued asset can compete with private projects like A7A5, which already enjoy significant liquidity and cross-border reach. Another issue will be how to align any new coin with existing digital ruble plans.

Russia’s evolving regulatory concept for digital currencies suggests that the authorities are unlikely to ignore market demand for long. However, the timing, structure and legal status of any new instrument remain open. Policymakers will need to integrate sanctions compliance, international partnerships and domestic financial stability into a coherent strategy.

In summary, Moscow’s reconsideration of stablecoin policy reflects both external pressure and internal market growth. Whether through tighter control of existing tokens or the launch of a new national instrument, Russia appears set to deepen its engagement with crypto-based monetary assets in the coming years.

According to a recent survey conducted by YouGov for XTB, the investment landscape in Italy is marked by significant caution and widespread distrust towards financial markets. The most striking finding from the study is that 75% of Italians have not made any investments in the past year.

This result depicts a country still far from a modern financial culture, where managing savings through investment tools remains a rarely practiced option.

The research, conducted on a representative sample of 1,036 adults between October 9 and 10, 2025, highlights how the lack of capital and the fear of losing money are the main obstacles hindering access to investments.

41% of respondents indicate they do not have sufficient initial capital, while 28% admit to being held back by the fear of seeing their savings vanish.

The Reasons Behind the Decision Not to Invest

Fear, Uncertainty, and Risk Perception

Data analysis highlights how the emotional component plays a central role in the financial decisions of Italians. The fear of losing money is one of the most significant barriers, indicating a very high perception of risk.

It is no coincidence that 24% of respondents state they would start investing only in the event of a significant windfall, such as a lottery win or an inheritance, while 16% would do so only if there was a salary increase or the arrival of extra income. In other words, many Italians consider their economic situation too fragile to afford taking risks.

Distrust in the System and Preference for the Traditional

Beyond economic and psychological barriers, there is a deep-seated distrust towards financial system players. 15% of non-investors state they do not trust brokers and financial institutions, while 12% view investing as akin to gambling.

This negative perception also translates into a preference for more traditional solutions: 20% of Italians prefer to keep their savings in savings accounts or invest in real estate, and 5% even choose the classic “under the mattress” option.

A Group of Unyielding

Of particular note is the presence of a group of “diehards”: 26% of non-investors state that nothing could convince them to change their minds. This data indicates a deep disaffection towards financial markets, which goes beyond the mere lack of information or capital and represents a real challenge for those involved in financial education.

Informational Leverage and Consulting: An Untapped Potential

Despite the overall landscape being dominated by fears and distrust, the research also identifies a significant portion of citizens who could potentially be activated.

10% of non-investors say they would be willing to change their attitude if they had access to clearer and more transparent information, while 9% could be persuaded by reliable advice from a trusted person. These data highlight the importance of informational clarity and quality consultancy as tools to bring Italians closer to the world of investments.

The Role of Fintech: The XTB Case

A Platform to Democratize Investment

In this scenario, entities like XTB aim to break down traditional barriers to accessing financial markets. Founded in Poland in 2004, XTB is a global fintech company offering online investment services through an innovative platform and a mobile app. With over 1.6 million clients worldwide, XTB allows trading of more than 10,700 financial instruments, including stocks, ETFs, CFDs on currencies, commodities, indices, and cryptocurrencies.

New Tools and Financial Education

Recently, XTB launched the Investment Plans product, which allows users to diversify their portfolios with ETFs and offers competitive interest rates on uninvested funds. The platform also provides advanced tools for market analysis and educational material to enhance investors’ skills, along with multilingual customer support available 24 hours a day, five days a week.

Regulation and International Presence

XTB shares are listed on the Warsaw Stock Exchange and the company is regulated by international authorities. The presence of offices in various European countries, including Italy, the United Kingdom, Germany, Spain, and France, demonstrates the intention to bring an increasingly wider audience closer to the world of digital investments.

A Future to Build: Education and Trust

The snapshot taken by the YouGov research for XTB reveals an Italy still hesitant to invest, hindered by fears, distrust, and a very high perception of risk. However, there is also a segment of the population that could be engaged through better information and more transparent and reliable advice. The challenge for the financial sector and fintech companies like XTB will be to build trust, promote financial education, and make investment tools accessible and understandable for everyone.

Only in this way will it be possible to transform wealth management into a lever for personal and collective growth, overcoming that “cultural lag” that still today separates many Italians from the opportunities offered by financial markets.

While crypto markets remain defensive, the Ethereum price is attempting a short-term rebound inside a broader downtrend that still dominates the bigger picture.

ETH/USDT daily chart with EMA20, EMA50 and volume”
loading=”lazy” />ETH/USDT — daily chart with candlesticks, EMA20/EMA50 and volume.

Market Thesis: Heavy Daily Downtrend vs Intraday Relief

Ethereum price against USDT is trading around $1,960, deep inside a mature downtrend. The key point right now: the daily structure is clearly bearish, but short-term timeframes are trying to stage a rebound. This is classic bear-market action — violent countertrend bounces inside a broader down-leg.

This moment matters because the daily chart is now oversold while macro crypto sentiment is at Extreme Fear (9) and BTC dominance is high at about 56.6%. In other words, the market is defensive, capital is hiding in Bitcoin and stablecoins, and Ethereum is being de-risked. The big question: does this oversold backdrop trigger a tradable mean-reversion rally, or is it just a pause before another leg lower?

Daily Timeframe (D1): Dominant Bias is Bearish

On the daily chart, the bias is unambiguously bearish. Trend, momentum, and volatility all line up to show a market that has been under steady selling pressure, now approaching exhaustion but not yet showing a proper trend reversal.

EMAs (Trend Structure)

Daily price is at $1,962, well below all key moving averages:

EMA 20: $2,291.05

EMA 50: $2,651.67

EMA 200: $3,088.74

All three EMAs are stacked bearishly above price, with a wide gap from the 200-day. This is a mature downtrend where rallies have plenty of overhead resistance. It tells you the path of least resistance is still down, and any bounce into the 20-day EMA would be a test of the sellers resolve rather than proof of a new bull leg.

RSI (Momentum)

RSI 14 (Daily): 29.62

Daily RSI has slipped below 30, which means the move is now technically oversold. This aligns with how washed-out the chart looks. In practical terms, it often precedes a bounce or consolidation. However, in a strong downtrend oversold can stay oversold longer than people expect. So the bears are in control, but they are getting extended.

MACD (Trend Momentum)

MACD Line: -269.62  |  Signal: -254.44  |  Histogram: -15.18

The MACD line is below the signal, deep in negative territory, with a small negative histogram. The trend downside momentum is still there, but the histogram being relatively modest suggests the selling impulse may be slowing rather than accelerating. That fits with the idea of a tired downtrend, not a fresh breakdown.

Bollinger Bands (Volatility & Positioning)

Middle Band (20 SMA proxy): $2,340.59  |  Upper: $3,116.33  |  Lower: $1,564.84

Price is trading below the middle band and relatively closer to the lower band, well under the midline at $2,340. The bands themselves are wide, reflecting elevated volatility. Being on the lower half of the bands confirms a pressure zone where sellers have dominated. However, the distance to the lower band also means the immediate crash risk is slightly less acute than if price were pinned to the band.

ATR (Volatility)

ATR 14 (Daily): $206.86

Daily ATR above $200 on a roughly $2,000 asset is sizeable. Swings of around 10% in either direction are on the table in short order. This is not a quiet grind; it is a high-volatility downtrend where both squeezes and flushes can be violent. Position sizing matters here more than usual.

Daily Pivot Levels (Reference Levels)

Daily pivot levels are:

Pivot Point (PP): $1,952.04

R1: $1,979.36

S1: $1,934.82

Ethereum is hovering almost exactly at the daily pivot around $1,952–$1,962. Trading near the pivot after a selloff often indicates a short-term pause or an area where intraday traders are fighting for control. A push and hold above R1 would signal intraday buyers taking the upper hand. A decisive move under S1 would show the downtrend reasserting itself.

1-Hour Chart (H1): Short-Term Relief Rally Inside a Bearish Context

The 1-hour timeframe is trying to stabilize after the dump. The system flags the regime as neutral, which makes sense: we are seeing a short-term bounce but nothing structurally bullish yet.

EMAs (Intraday Trend)

On H1:

Price: $1,960.64

EMA 20: $1,947.95 (price slightly above)

EMA 50: $1,960.17 (price right on it)

EMA 200: $2,046.70 (well above)

Price reclaiming and hovering around the 20- and 50-hour EMAs is a sign of a short-term stabilization or relief rally. However, the 200-hour EMA remains far overhead near $2,047, marking the boundary of the larger downtrend on this timeframe. Intraday bulls have room to push higher without touching the higher-timeframe downtrend line in the sand.

RSI (Intraday Momentum)

RSI 14 (H1): 54.64

Hourly RSI is slightly above neutral, reflecting modest bullish momentum after the prior drop. This looks more like a countertrend bounce than an aggressive new buying cycle. Momentum is improving, but not euphoric.

MACD (Intraday Momentum Shift)

MACD Line: -0.90  |  Signal: -4.59  |  Histogram: 3.69

The MACD line is below zero but has crossed above the signal with a positive histogram. That is a classic short-term bullish cross inside a broader bearish field. Sellers are backing off, and short-term traders are trying to pick the lows. Nevertheless, as long as MACD stays below zero, the bounce is still technically against the dominant trend.

Bollinger Bands (H1 Positioning)

Middle Band: $1,937.70  |  Upper: $1,969.48  |  Lower: $1,905.92

Price is near the upper band at around $1,960–$1,969. That shows the bounce has pushed Ethereum to the top of its recent intraday range. Often, hugging the upper band on the 1-hour can lead to either a continuation grind higher or a fade back to the mean. In a bearish higher-timeframe regime, these upper-band tags tend to be selling opportunities for swing traders.

ATR & Pivot (H1 Micro-Range)

ATR 14 (H1): $16.64

An intraday ATR of around $16 suggests typical 1-hour bars have meaningful range but are manageable compared to the daily swings. For traders, that is enough volatility for opportunity without being totally chaotic.

Hourly pivot levels are:

PP: $1,962.20

R1: $1,967.70

S1: $1,955.14

Price is basically sitting on the hourly pivot and just under R1. Holding above $1,955 and breaking cleanly above $1,968 would cement the intraday bounce. Losing $1,955 and then $1,945–$1,935 opens the door for another downside rotation.

15-Minute Chart (M15): Execution Context

The 15-minute chart is there for timing, not for macro bias. It currently shows a more energetic push higher, in line with the H1 bounce.

EMAs (Micro-Structure)

On M15:

Price: $1,960.65

EMA 20: $1,951.29

EMA 50: $1,946.58

EMA 200: $1,956.66

Price is above all three EMAs, and the shorter EMAs are tilting upward. This is a short-term uptrend inside the broader intraday and daily downtrend. For scalpers and day traders, dips toward the 15-minute 20 EMA are currently being defended. However, this can flip quickly if the higher-timeframe selling resumes.

RSI & MACD (Short-Term Momentum)

RSI 14 (M15): 61.27

RSI on the 15-minute is above 60, reflecting healthy short-term buying pressure. It is not yet at a blow-off level, but you are firmly in bounce mode rather than bottom-fishing.

MACD Line: 5.20  |  Signal: 3.59  |  Histogram: 1.61

The MACD on M15 is positive and above its signal with a green histogram — momentum is plainly up in the very short term. This is the timeframe where the bounce looks the strongest, which is precisely why it is dangerous to extrapolate it without respecting the daily downtrend.

Bollinger Bands & Pivot (M15)

Middle Band: $1,946.82  |  Upper: $1,969.61  |  Lower: $1,924.03

Price is near the upper band again, mirroring the H1 picture. Short-term buyers have pushed ETH to the top of its micro-range. That is often where late longs chase and more patient players start trimming or fading.

15-minute pivot levels:

PP: $1,960.17

R1: $1,963.64

S1: $1,957.18

With price sitting on the 15-minute pivot, micro-structure is finely balanced. A pop through $1,964 could extend toward the Bollinger upper band zone. A break back below $1,957 would hint that the micro-bounce is losing steam.

Broader Market & Sentiment Context

The wider crypto backdrop is not friendly to Ethereum right now:

BTC dominance: ~56.6% — capital is crowding into Bitcoin, not ETH.

Total market cap 24h change: -1.31% — broad risk-off tone.

Fear & Greed Index: 9 (Extreme Fear) — risk appetite is extremely low.

Recent news headlines talk about crypto gloom, ETF outflows from Bitcoin and Ether, and risk-off behavior. That lines up cleanly with what the charts are saying: this is a defensive environment where rallies are being sold, not chased.

Scenarios for Ethereum Price

Main Scenario (Based on D1): Bearish with Oversold Risk of Sharp Bounces

The dominant scenario remains bearish as defined by the daily chart: price well below all major EMAs, negative MACD, and an oversold RSI. The key nuance: we are in the late stage of this down-leg, where sharp countertrend rallies become more likely, but, by default, they are still rallies to sell rather than a new uptrend.

Bullish Scenario

For the bullish case, Ethereum needs to turn this oversold backdrop into a sustained mean-reversion move:

Step 1: Hold above the daily pivot (around $1,952) and build a base above $1,930–1,940. Losing that band cleanly keeps control in bearish hands.

Step 2: Use the intraday strength (H1 and M15 up-momentum) to break and hold above the short-term resistance cluster around $1,980–2,000 (near intraday R1s and upper Bollinger areas).

Step 3: Extend toward the daily 20 EMA around $2,290. That is the first serious test of whether sellers are willing to reload. A strong push toward this level with RSI climbing back toward 45–50 on the daily would mark a genuine corrective rally.

What invalidates the bullish scenario?
If ETH fails to hold above roughly $1,930, and especially if it closes a daily candle well below the daily pivot and S1, the notion of a sustained bounce weakens. A fresh breakdown with daily RSI staying stuck below 30 would show that the market is not ready to mean-revert yet.

Bearish Scenario

The bearish path assumes this intraday bounce is a classic dead-cat rally inside a strong downtrend:

Ethereum price struggles to hold above $1,960–1,980 and fails to reclaim the $2,000 handle with conviction.

Intraday indicators (H1 and M15 RSI/MACD) roll over from their current mildly overbought levels while daily RSI stays oversold, pointing to another leg lower.

Price breaks below $1,930–1,940 support and drives toward the lower daily Bollinger region, with room down toward the mid-$1,600s if selling accelerates again.

What invalidates the bearish scenario?
A decisive reclaim of the $2,050–2,100 area, where the H1 200 EMA currently sits, would be the first serious red flag for bears. If price can push above that zone and daily RSI recovers above 40 with MACD downside momentum fading further, the argument for a simple continuation down becomes much weaker. The real structural win for bulls would be a sustained reclaim of the daily 20 EMA near $2,290; until that happens, the bearish thesis remains structurally intact.

Positioning, Risk, and Uncertainty

Across timeframes, the message is clear: daily is bearish and oversold, while intraday is trying to bounce. That tension is where traders usually get chopped up. They may chase short-term green candles into a bigger downtrend, or short into the hole right before a squeeze.

In an environment with elevated daily ATR, extreme fear sentiment, negative news flow, and ETH sitting well below its key EMAs, position sizing and timeframe discipline matter more than directional conviction. Short-term traders might work with the M15 and H1 uptrend for tactical longs, but they are trading against the daily bias and need to be quick. Swing traders leaning with the daily bear trend will often look to fade strength into resistance zones rather than sell every low.

Nothing on this chart rules out a brutal short squeeze higher or a further capitulation leg lower; both fit inside the current volatility regime. The only thing the market is clearly saying is that we are in a defensive phase for Ethereum, and any exposure should be sized with the understanding that the Ethereum price can move hundreds of dollars in very little time.

The market is caught between deep fear and short-term stabilization as Bitcoin crypto today trades near key pivot levels with volatility still elevated.

BTC/USDT — daily chart with candlesticks, EMA20/EMA50 and volume.

Daily Timeframe (D1): Macro Bias – Bearish With Early Stabilization Attempts

Daily close: $67,005
Regime: Bearish

Trend Structure – EMAs

• 20-day EMA: $74,578.87
• 50-day EMA: $82,113.95
• 200-day EMA: $94,627.39

Price is trading far below the 20, 50, and 200 EMAs. The entire moving-average stack is above spot, sloping down. That is a classic, well-established downtrend: rallies into the low-70Ks would still be considered bounces within a bearish structure, not a trend reversal. In plain terms, the market has a lot of overhead supply to chew through before bulls can talk about a real recovery.

Momentum – RSI (14)

RSI (14): 31.14

Daily RSI is hovering just above oversold territory. Momentum is still negative, but it is not in full capitulation mode anymore. Sellers have clearly dominated the recent move, yet they are no longer pressing price relentlessly to new lows. That opens the door for a reflexive bounce, but it does not guarantee one. This can sit near 30 for a while in entrenched downtrends.

Momentum – MACD

MACD line: -5,814.24
Signal line: -5,279.06
Histogram: -535.18

The MACD is deeply negative with the line still below the signal. The histogram is also negative, showing bearish momentum remains in place. The good news for bulls is that the histogram’s size suggests the downside impulse is no longer accelerating aggressively. However, we are not seeing a clean bullish cross yet. The trend is still down; the bleeding is just slowing rather than reversing.

Volatility & Range – Bollinger Bands

Middle band: $75,915.57
Upper band: $92,674.33
Lower band: $59,156.81

Price at about $67K is parked in the lower half of the band, well below the midline. The bands are wide after the sharp selloff, confirming we are in a high-volatility environment. Trading this means accepting bigger intraday swings and the risk of sharp squeezes both ways. Being stuck under the middle band reinforces the bearish bias: the market is still living in the lower volatility regime of its recent range.

Volatility – ATR (14)

ATR (14): $5,200.43

A daily ATR over $5K signals very wide average daily ranges. Position sizing is critical here; small leverage can be wiped out quickly. Moreover, for directional traders, this volatility is opportunity, but it also means that stops need more room and you must be prepared for $3–6K swings without overreacting.

Key Daily Levels – Pivot

Pivot point (PP): $66,659.30
First resistance (R1): $67,446.15
First support (S1): $66,218.64

Price is hovering slightly above the daily pivot and just under R1. That tells you today’s session is tilting mildly constructive intraday but still trapped in a tight, indecisive band. As long as BTC holds above the pivot on a daily closing basis, the market is trying to carve out a short-term base. Lose the pivot decisively, and the next leg down opens up.

D1 Takeaway: The main scenario on the daily is bearish. The trend is down, momentum is weak, and volatility is elevated. The only silver lining is that some indicators are no longer accelerating to the downside, which often precedes a relief rally. However, that would be a countertrend move until major EMAs are reclaimed.

Hourly Timeframe (H1): Short-Term Relief Inside a Bear Market

Hourly close: $66,978.24
Regime: Neutral

Trend Structure – EMAs

• 20-hour EMA: $66,570.22
• 50-hour EMA: $67,014.44
• 200-hour EMA: $69,365.69

On the 1H chart, price is sandwiched between the 20 and 50 EMAs and still well below the 200 EMA. That is a short-term neutral to mildly constructive setup within a larger downtrend. The market has stopped trending straight down intraday and is trying to build a sideways-to-up consolidation. However, the 200 EMA near $69K remains a clear cap. Any push there will test how aggressive sellers still are.

Momentum – RSI (14)

RSI (14): 54.42

Hourly RSI has recovered to the middle range. This reflects modest buying pressure after the selloff, but nothing euphoric or overstretched. Dip-buyers have stepped in enough to stop the bleeding on low timeframes, yet there is no strong momentum trend up or down right now. It is more of a rebalancing phase.

Momentum – MACD

MACD line: -84.07
Signal line: -213.37
Histogram: +129.30

The MACD line is still below zero but has crossed above the signal, and the histogram is positive. That is the footprint of a short-term bullish momentum swing inside an overall weak backdrop. Sellers are losing some control intraday, allowing for a corrective move higher or at least a range-bound pause after the aggressive drop.

Volatility & Range – Bollinger Bands

Middle band: $66,246.54
Upper band: $67,225.46
Lower band: $65,267.63

BTC is trading near the upper half of the hourly bands, nudging closer to the upper band. That typically reflects a relief phase where price grinds higher or holds firm after a selloff. Until price starts closing above the upper band repeatedly, this is more consistent with a controlled bounce rather than runaway upside.

Volatility – ATR (14)

ATR (14): $468.04

Hourly ATR around $450–500 points to decent but not extreme intraday ranges. For short-term traders, this is active but tradable volatility. You can structure intraday trades without needing absurdly wide stops, though you still need some breathing room.

Key Hourly Levels – Pivot

Pivot point (PP): $66,959.40
First resistance (R1): $67,118.81
First support (S1): $66,818.84

Price is sitting almost exactly on the hourly pivot. That is the definition of a balance zone: neither bulls nor bears have real intraday dominance at this moment. A sustained push and hold above R1 would confirm the ongoing intraday relief. A failure that drifts back under S1 would signal that sellers are regaining short-term traction.

H1 Takeaway: The hourly chart is neutral-to-mildly-bullish within a macro downtrend. It shows stabilization and a potential bounce phase, but nothing here yet challenges the daily bearish structure.

15-Minute Timeframe (M15): Execution Context – Short-Term Buyers in Control

15m close: $66,986.77
Regime: Neutral

Trend Structure – EMAs

• 20-EMA: $66,634.93
• 50-EMA: $66,499.86
• 200-EMA: $66,970.18

On the 15-minute chart, price is above the 20 and 50 EMAs and roughly in line with the 200 EMA. Short-term, buyers are clearly active and have the micro-trend tilting upward. The fact that price is testing around the 200 EMA shows we are at a decision point for scalpers. Either we continue to build a higher intraday base above it, or we slip back under and return to chop.

Momentum – RSI (14)

RSI (14): 65.67

RSI on the 15m is pushing into the upper range but not yet at extreme levels. Momentum is clearly favoring the upside for now on this timeframe. For very short-term traders, this means chasing here has less edge; the better entries came earlier in the move. For swing traders, this is just noise inside the larger daily downtrend.

Momentum – MACD

MACD line: 163.57
Signal line: 107.51
Histogram: 56.06

The MACD on the 15m is positive and above the signal with a positive histogram. Short-term momentum buyers are in control of the tape right now. This supports the idea of an intraday rally or consolidation at higher levels rather than immediate breakdown, aligning with the hourly picture of short-term relief.

Volatility & Range – Bollinger Bands

Middle band: $66,518.19
Upper band: $67,131.23
Lower band: $65,905.15

Price is hugging the upper half of the 15m bands, close to the upper band. That is what you typically see during intraday up-legs or squeezes. It is constructive for short-term longs, but it also means the market is starting to get crowded in the very near term. Small pullbacks are likely as late buyers pile in.

Volatility – ATR (14)

ATR (14): $230.33

Fifteen-minute ATR a bit above $200 is consistent with actively trading conditions. Short-term swings are meaningful enough to matter for scalps, but not chaotic. It is a workable environment for tactical entries and exits.

Key 15m Levels – Pivot

Pivot point (PP): $66,960.50
First resistance (R1): $67,080.61
First support (S1): $66,866.66

Price is just above the 15m pivot and pressing toward R1. Microstructure favors the long side for the moment: as long as we hold above the pivot, dips are being bought on this timeframe. A clean break below S1 would show the short-term push running out of steam.

M15 Takeaway: Short-term buyers control the very near-term action, but they are trading against a dominant daily downtrend. This is good for tactical plays, not a standalone reason for a long-term bullish stance.

Market Context: Dominance, Sentiment, and DeFi Activity

• Bitcoin dominance: 56.6%
• Total crypto market cap: about $2.37T (down 1.3% over 24h)
• Fear & Greed Index: 9 – Extreme Fear

BTC dominance above 56% tells you capital is hiding in Bitcoin relative to alts, which is classic risk-off behavior inside crypto. Investors are reducing speculative bets and clustering in the perceived safer end of the spectrum, or exiting the market outright. The drop in total market cap and a roughly 9% slump in volume over 24 hours reinforce the idea that new money is not rushing in yet. This is still a defensive tape.

Extreme fear at 9 is rare and tends to cluster around important medium-term inflection points. Historically, such readings have often coincided with late-stage selloffs or accumulation zones for patient capital. That said, extreme fear by itself does not mean the low is in. It means the market is fragile and one more shock can still trigger forced selling.

On the DeFi side, fees on major DEXes like Uniswap V3 and Curve are sharply down on the day and even more so over the week, which points to lower speculative trading and leverage unwinds. The market is de-risking across the stack, not just on centralized exchanges. This reinforces the macro view: speculative appetite is muted, and liquidity is thinner.

Recent news headlines are also leaning negative: a crypto lender (BlockFills) suspending withdrawals, narratives around Bitcoin’s large drawdown and weekend risk, and commentary that the age of speculation may be ending. This kind of news flow tends to accelerate capitulation, but once it is fully priced in, it can also mark the zone where bad news stops pushing price much lower.

Putting It All Together: Conflicting Timeframes, One Dominant Trend

Here is the key tension: the daily trend is clearly bearish, while the hourly and 15-minute charts show a short-term recovery. That is exactly how bear markets breathe. They feature violent legs down followed by sharp but fragile bounces.

The daily EMAs and MACD frame a strong downtrend with heavy overhead resistance.

The hourly MACD and RSI show that sellers are backing off intraday and allowing a relief phase.

The 15m indicators confirm that short-term momentum is up, likely driven by short covering and tactical dip-buying.

Extreme fear and high ATR tell you volatility is high and positioning is stressed, which is fertile ground for both sharp squeezes and further flushes.

The net result: macro bias is bearish, microstructure is stabilizing. Short-term longs may work tactically, but they are swimming against the prevailing current.

Clear Scenarios for Bitcoin Crypto Today

Bullish Scenario

In the bullish case, today’s stabilization near the daily pivot evolves into a more meaningful relief rally.

What supports this:

• Daily RSI near 30 has room to push higher on a mean-reversion bounce.
• Hourly MACD has already flipped positive on the histogram, and 15m momentum is firmly to the upside.
• Price is sitting above intraday pivots (H1 and M15), and short-term EMAs are starting to provide support below spot.

In this scenario, BTC would:

• Hold above the daily pivot at roughly $66.6K and convert that zone into a short-term floor.
• Push through immediate intraday resistances (R1s on 15m and 1h) and challenge the 200-EMA on the hourly around the high-$60Ks to about $69K.
• Potentially extend toward the 20-day EMA in the mid-$70Ks on a stronger squeeze, where heavy supply is likely to show up again.

What would invalidate the bullish scenario:
A decisive break and daily close back under about $66K, especially if accompanied by rising daily volume and a fresh rollover in the hourly MACD. That would indicate the bounce was just short covering and that the dominant downtrend is ready for another leg lower.

Bearish Scenario

The bearish case is that the current relief attempt stalls under nearby resistance and the higher timeframe downtrend reasserts itself.

What supports this:

• Price is far below the 20, 50, and 200 EMAs on the daily, leaving a wide air pocket above that typically attracts selling on rallies.
• Daily MACD remains deeply negative with no confirmed turn, consistent with a prevailing bear trend rather than a bottoming structure.
• Extreme fear, de-risking in DeFi, and negative news flow indicate broader risk-off, which can cap rallies.

In this scenario, BTC would:

• Fail to hold above the hourly and 15m pivots, slipping back below roughly $66.8K and then the daily pivot near $66.6K.
• See the hourly MACD roll back over while RSI fails to push much beyond the mid-50s, signaling that buyers are exhausted even at depressed levels.
• Retest and potentially break the lower daily Bollinger Band region toward the low-$60Ks to high-$50Ks, in line with the band’s lower boundary around about $59K.

What would invalidate the bearish scenario:
A sustained reclaim of the 20-day EMA (mid-$70Ks) with daily closes above it, accompanied by an upturn in the daily MACD, or at least a bullish cross, and RSI moving back into neutral-to-positive territory (40s–50s). That would signal a genuine shift from trend continuation to early trend reversal.

Positioning, Risk, and How to Think About This Tape

For traders and investors looking at Bitcoin crypto today, the message from the chart is not subtle. The path of least resistance on the daily is still down, but we are entering a zone where both sharp squeezes and sharp flushes are on the menu.

Daily ATR above $5K and hourly ATR near $500 mean volatility is elevated across timeframes. Position size and leverage need to be aligned with that reality. In a market with extreme fear and a damaged daily structure, rallies can be fast, and reversals can be brutal.

The multi-timeframe picture gives a simple framework:

• The daily tells you not to trust countertrend euphoria: until major EMAs are reclaimed, bounces are guilty until proven otherwise.
• The hourly and 15m show where the relief legs and intraday opportunities are, but they are operating inside a broader downtrend.

Short-term participants can work with the intraday pivots and EMAs, treating current strength as a tactical window, not as confirmation of a new bull phase. Longer-horizon participants may see extreme fear and heavy discounts from the highs as the early stages of an accumulation window, but the structural risk of lower lows is still on the table.

In this kind of tape, the edge comes less from predicting the exact bottom and more from respecting the volatility, the higher-timeframe trend, and the fact that sentiment is fragile. Until the daily chart repairs itself, Bitcoin remains in a bear-controlled environment with intermittent, tradable bounces, not yet in a confirmed recovery.

In a market dominated by risk aversion, Solana price action around $80 is unfolding against a backdrop of extreme fear and heavy pressure on altcoins.

SOL/USDT daily chart with EMA20, EMA50 and volume”
loading=”lazy” />SOL/USDT — daily chart with candlesticks, EMA20/EMA50 and volume.

Dominant Scenario from the Daily Chart: Still Bearish

The daily timeframe (D1) defines the main bias, and here the message is clear: the primary scenario is bearish.

Daily close: $80.16

Daily trend regime: bearish

Market backdrop: total market cap down ~1.3% in 24h, extreme fear, BTC dominance high

In plain language, Solana is trading as a weak altcoin in a risk-off crypto tape. Dips can bounce, but the burden of proof is on the bulls to reclaim lost levels. For now, rallies are more likely to be sold than extended.

Daily Indicators: Structure, Momentum, and Volatility

Exponential Moving Averages (EMA20, EMA50, EMA200) – Trend Structure

EMA 20 (short-term): $96.55

EMA 50 (medium-term): $113.71

EMA 200 (long-term): $145.76

Price: $80.16 (well below all three)

The EMAs are stacked in a classic downtrend configuration: price < 20 < 50 < 200. The gap between spot and the 20-day EMA is huge, more than $16, which shows how aggressively price recently detached to the downside. That sort of distance cannot stay that stretched forever. Either the trend continues with grinding lower lows while EMAs catch down, or there is a mean-reversion bounce toward the 20-day.

In practice, $96–100 (around the 20-day EMA and daily Bollinger mid) is now the first serious gravity zone above. As long as SOL is trapped beneath that band, the higher timeframe trend remains firmly against the bulls.

RSI (14) – Oversold but Not Yet Repaired

Daily RSI 14: 27.86

Daily RSI is sitting under 30, firmly in oversold territory. That often signals two things simultaneously: selling has been heavy, and the easy part of the short trade may be behind us. However, oversold alone does not mean bottom. Markets can stay oversold in persistent downtrends.

Right now, this setup says the downtrend is stretched, so countertrend bounces are increasingly likely, but the RSI has not started a convincing rebound yet. Bulls need to push RSI back above the low 30s and then 40+ to argue that momentum is actually turning, not just pausing.

MACD – Bear Momentum Still in Control

MACD line: -12.76

Signal line: -11.63

Histogram: -1.13

MACD is deeply negative, with the line below the signal and a negative histogram. The bearish impulse is not as explosive as it would be with a sharply widening histogram, but the market is clearly still in the bear momentum phase, not yet in a momentum reset.

For a sustainable bullish story, you would want to see the histogram move toward zero and eventually flip positive, ideally while price is reclaiming that $96–100 zone. Until then, the MACD confirms that the daily trend is still down, despite the oversold reading on RSI.

Bollinger Bands – Trading in the Lower Half, Not Free-Fall

Middle band (20-day basis): $99.00

Upper band: $132.92

Lower band: $65.08

Price: $80.16

SOL is trading below the middle band and closer to the lower band, but not pinned to it. That usually signals a controlled downtrend rather than panic liquidation. Price already spent time moving toward the lower band. Now it is hovering above it, suggesting selling pressure has cooled a bit, but the bias remains down.

The space between $80 and the lower band around $65 is important. If price starts riding that lower band again, it opens the door for another leg lower toward the mid-60s. A move back toward the middle band near $99 would be a typical mean-reversion path if buyers step in with conviction.

ATR (14) – Elevated but Not Extreme Volatility

Daily ATR 14: $9.5

Daily ATR around $9.5 on an $80 asset means roughly 12% average daily range. That is elevated, but not absurd for Solana. Volatility is high enough that levels can be tested quickly, but the market is not in a blow-off or capitulation regime. For traders, it means wider stops are needed, and intraday noise can be brutal around key levels.

Daily Pivot Levels – Short-Term Reference Points

Pivot point (PP): $79.37

Resistance 1 (R1): $81.21

Support 1 (S1): $78.32

Price at $80.16 is sitting just above the daily pivot, with R1 nearby at $81.21. That is a very tight range relative to the daily ATR, so you should treat these levels as short-term intraday reference points rather than major structural zones.

Holding above $79–78 keeps the door open for a continued intraday bounce. A firm break below S1 on a closing basis would show that sellers are back pressing the tape, aiming toward the mid-70s or even that lower Bollinger band in the mid-60s over time.

Intraday Picture: 1-Hour and 15-Minute Timeframes

1-Hour (H1) – Attempting a Modest Bounce

Close: $80.18

EMA 20: $79.18

EMA 50: $80.06

EMA 200: $85.31

RSI 14: 57.42

MACD line: -0.12 vs signal -0.40, histogram +0.29

Bollinger mid: $78.57, upper: $80.35, lower: $76.78

ATR 14: $0.8

Pivot: $80.12, R1: $80.48, S1: $79.83

Regime: neutral

On the 1-hour chart, SOL is edging back into a short-term recovery.

Price is trading above the 20-hour EMA and hugging the 50-hour EMA. That combination typically marks a nascent bounce inside a larger downtrend. The 200-hour EMA at $85.31 hangs overhead as the first serious intraday trend barrier. That is where you would expect sellers to lean in if the bounce continues.

RSI around 57 shows intraday momentum has shifted from oversold to mildly bullish. It is not overheated, so there is room for continuation if buyers stay active. MACD on H1 has just turned positive on the histogram with the line curling up toward the signal, early but real evidence of a short-term momentum recovery.

Bollinger Bands on H1 put price near the upper band at $80.35, which often coincides with a local pause or consolidation during a bounce. ATR of $0.8 tells you the average hourly range is modest. The market is not in a violent squeeze but in a controlled rebound.

The intraday pivot around $80.12 is effectively being tested in real time. Holding above that intraday pivot and then above R1 ($80.48) would signal that buyers are gradually gaining the upper hand on short timeframes, at least for a push toward $82–84 where prior supply may sit.

15-Minute (M15) – Short-Term Momentum Favors Bulls

Close: $80.18

EMA 20: $79.40

EMA 50: $79.03

EMA 200: $79.96

RSI 14: 66.45

MACD line: 0.40 vs signal 0.30, histogram +0.10

Bollinger mid: $79.18, upper: $80.53, lower: $77.84

ATR 14: $0.4

Pivot: $80.20, R1: $80.38, S1: $80.00

Regime: neutral

The 15-minute chart is short-term bullish within that bigger bearish context. Price is above all key EMAs, including the 200-period at $79.96, forming a small intraday uptrend. RSI near 66 shows strong, but not extreme, short-term buying pressure.

MACD is positive, and the histogram is slightly above zero, confirming that the microstructure favors the upside right now. Price near the upper 15-minute Bollinger Band and the pivot at $80.20 shows that the market is in a local resistance pocket. Intraday traders will be watching whether SOL can hold $80 on pullbacks. If it does, dips will likely be bought for continuation.

How the Timeframes Fit Together

There is a clear tension between timeframes:

Daily: Strongly bearish trend, oversold momentum, still negative MACD.

1-Hour: Neutral regime shifting toward a short-term bounce, improving MACD, RSI back in the 50s.

15-Minute: Short-term uptrend, momentum bullish, price above all key EMAs.

The most likely interpretation is that the market is in a countertrend rally inside a dominant daily downtrend. Intraday players are leaning long off $79–80, but swing traders will see this as a potential shorting opportunity into resistance zones, unless price can start reclaiming much higher levels.

Solana Price – Bullish Scenario

Given the daily oversold RSI and early signs of stabilization on intraday charts, a bullish mean-reversion scenario is on the table, but it is working against the higher timeframe trend.

What Bulls Want to See

First, SOL needs to defend the $78–80 area, which aligns with the daily pivot and intraday support bands. As long as pullbacks get absorbed above that pocket, the intraday uptrend can mature.

Next, intraday structure would need to push toward and then through the H1 200-EMA around $85.31. A strong move and hold above $85, with H1 RSI staying healthy (50–60+) and MACD firmly positive, would signal that this is not just noise but a genuine short-term trend reversal.

From there, the real battleground is the $96–100 zone, where the daily 20-EMA and Bollinger midline sit. A rally into that region would be a standard mean-reversion target after a severe selloff. If bulls can establish acceptance above $100 on daily closes, meaning not just a wick but sustained trade, the case strengthens for a more durable bottom and a potential medium-term trend shift.

What Would Invalidate the Bullish Case

The bullish rebound thesis weakens quickly if SOL loses $78 on strong volume and starts closing daily candles below that level. In that scenario, the attempted base at $79–80 has failed, and the downtrend is reasserting itself.

From a momentum standpoint, a failure of H1 RSI back under 40 with MACD rolling over from just above zero would show that the bounce has run out of steam. If this happens while price remains well below $85, the market is signaling that sellers are happy to re-engage on relatively shallow rallies.

Solana Price – Bearish Scenario

The higher timeframe already leans bearish, so the question is not whether the trend is down, but whether the downtrend has another leg. The daily EMAs stacked overhead, negative MACD, and market-wide risk-off mood all argue that it does, unless bulls can reclaim lost ground aggressively.

How a Fresh Leg Lower Could Unfold

In the bearish continuation path, the current intraday bounce stalls below the $85 area (H1 200-EMA) or even sooner. Price chops around $80–83, liquidity builds, and once buying interest dries up, sellers push SOL back below the daily pivot and S1 support cluster $79–78.

If daily RSI remains stuck below 35 and MACD stays deep in negative territory, any attempt to rally becomes suspect. A decisive daily close below $78 opens the window toward the lower Bollinger band near $65, which lines up as the next technical magnet during a volatility expansion lower.

In such a move, volatility (ATR) could tick higher, and the market might enter a short, sharp flush, especially with overall sentiment at extreme fear and BTC dominance elevated, which often forces weaker alts to underperform.

What Would Invalidate the Bearish Case

For bears, alarm bells ring if SOL reclaims and holds above $100 on the daily chart. That would mean price has broken back above the 20-day EMA and Bollinger midline, effectively challenging the integrity of the current downtrend.

On top of that, you would want to see daily RSI pushing back above 45–50 and MACD flattening and crossing upward. That combination would show that the previous selloff has fully digested and the path of least resistance is no longer clearly down.

Positioning, Risk, and How to Think About This Tape

Right now, Solana sits in an awkward zone: macro trend is down, micro trend is bouncing. That is precisely the kind of environment where traders get chopped up by overconfidence on either side.

For trend followers, the clean read is that SOL remains in a bearish regime on the daily timeframe. Until the price can trade back above $96–100 and stay there, rallies are structurally countertrend. Short setups against major resistance, like the H1 200-EMA or the daily 20-EMA, will continue to appeal to systematic players.

For mean-reversion and shorter-term traders, oversold daily RSI and improving intraday momentum provide a tactical window to play bounces. However, the key is to respect that the strategy is trading against the larger wave. Tight risk management and clear invalidation levels, such as a break below $78, become non-negotiable.

Volatility is high enough that levels can be overshot in both directions, especially with the entire market sitting in extreme fear and BTC dominance elevated. Expect whipsaws around intraday pivots and be careful extrapolating 15-minute strength into multi-day conviction without confirmation from the daily chart. In short, Solana price is in a bearish regime with a live countertrend bounce, and the next major directional cue will likely come from how price behaves around $78 on the downside and $85–100 on the upside.

The broader crypto market sits in extreme fear as the Ripple price presses against local support, with XRPUSDT trying to stabilize after a prolonged downtrend.

XRP/USDT — daily chart with candlesticks, EMA20/EMA50 and volume.

Daily Chart (D1): Macro Bias – Bearish, But Near a Potential Support Pocket

The main scenario from the daily chart is bearish. XRPUSDT is in a downtrend, trading under all major moving averages and below the Bollinger midline, with momentum still weak. However, the price is hovering just above the lower Bollinger Band and near the daily pivot, hinting that we are closer to the late phase of the current leg down rather than the middle of it.

Daily EMAs (Trend Structure)

Price (close D1): 1.37 USDT

EMA 20: 1.55 USDT

EMA 50: 1.76 USDT

EMA 200: 2.17 USDT

Price is well below the 20, 50, and 200 EMAs, and those EMAs are stacked in a textbook bearish order. This confirms a mature downtrend on the daily chart. Any bounce toward 1.55–1.76 would currently be a rally into resistance, not a confirmed trend reversal.

Daily RSI (Momentum & Exhaustion)

RSI 14 (D1): 32.9

Daily RSI is below 40 and leaning toward oversold, but not yet at full capitulation. That usually means bearish momentum is still in control, but sellers are no longer early; they are pressing an already extended move. This is where shorting blindly becomes less attractive and where snapback rallies can appear if news or liquidity shifts.

Daily MACD (Trend Momentum)

MACD line: -0.15

Signal line: -0.14

Histogram: -0.01

MACD is negative and almost flat with a tiny negative histogram. The downtrend is losing momentum, not reversing yet. Bears are still in charge, but the strong directional push seen earlier has cooled. This aligns with a market that is drifting lower more than impulsively breaking down.

Daily Bollinger Bands (Volatility & Value Zone)

Middle band: 1.58 USDT

Upper band: 1.99 USDT

Lower band: 1.16 USDT

Price vs Bands: 1.37 is below the mid, well above the lower band

Price is trading in the lower half of the band structure, under the midline at 1.58 but not hugging the lower band at 1.16. That is consistent with a soft grind lower rather than a panic flush. The lower band around 1.16 stands out as a potential line in the sand for deeper capitulation: if XRP slides toward that region, volatility could spike as weak hands exit.

Daily ATR (Range & Volatility)

ATR 14 (D1): 0.14

An average daily range of about 0.14 on a 1.37 asset points to moderate volatility. This is not a volatility blow-off; the market is moving, but it is not in a frenzy. That fits the picture of a controlled downtrend in a fearful macro environment.

Daily Pivot Levels (Reference Support/Resistance)

Pivot point (PP): 1.36

R1: 1.38

S1: 1.35

Price at 1.37 is sitting almost exactly on the daily pivot, wedged between S1 at 1.35 and R1 at 1.38. That tells you the market is undecided at this precise spot. A sustained break under 1.35 would open the door to a fresh downside leg, while holding above 1.38 would be the first small win for intraday bulls within a broader bearish trend.

1-Hour Chart (H1): Short-Term Bias – Neutral Stabilization

On the 1H timeframe, XRPUSDT is transitioning from weakness into a more balanced, sideways posture. The H1 data shows a neutral regime, with price sitting right on top of short-term EMAs and momentum indicators flatlining. This does not flip the daily trend, but it does indicate that selling pressure is pausing here.

H1 EMAs

Price (close H1): 1.37 USDT

EMA 20: 1.37 USDT

EMA 50: 1.37 USDT

EMA 200: 1.42 USDT

Price is glued to the 20 and 50 EMAs, while the 200 EMA sits higher at 1.42. Intraday, that is a range-trading environment under a larger bearish ceiling. Short-term players are balancing buyers and sellers, but any push into the 1.40–1.42 zone will run into structural resistance.

H1 RSI

RSI 14 (H1): 51.39

RSI on the 1H is basically dead-center around 50, indicating no clear intraday edge. The impulsive selling has cooled, and price is catching its breath. From here, either side can take control, so the next push away from this equilibrium will matter for direction.

H1 MACD

MACD line: 0

Signal line: -0.01

Histogram: 0

MACD on the 1H is flat at the zero line with the signal basically matching. Trend momentum is neutral intraday. There is no strong push either up or down; this fits with a consolidating market sitting on the pivot.

H1 Bollinger Bands

Middle band: 1.36 USDT

Upper band: 1.37 USDT

Lower band: 1.35 USDT

Price vs Bands: 1.37, hovering near the upper/mid band area

The bands on 1H are tight, with price near the upper half. This reflects a low-volatility squeeze, where a breakout can follow once one side commits. Given the bearish daily backdrop, upside follow-through needs confirmation; otherwise, these tight bands can just break lower.

H1 ATR & Pivot

ATR 14 (H1): 0.01

Pivot (PP): 1.37

R1/S1 (H1): both calculated near 1.37 in this dataset

An ATR of 0.01 on 1H is very small, indicating quiet tape and thin intraday ranges. Combined with price hugging the pivot at 1.37, this reinforces the idea of a short-term equilibrium zone inside a larger downtrend.

15-Minute Chart (M15): Execution Context – Short-Term Bid Inside a Range

The 15m chart is useful only for timing entries and exits. Here, XRPUSDT shows a slight bullish tilt but still within a tight band.

M15 EMAs

Price (close M15): 1.37 USDT

EMA 20: 1.36 USDT

EMA 50: 1.36 USDT

EMA 200: 1.37 USDT

On 15m, price is fractionally above the 20 and 50 EMAs and roughly in line with the 200 EMA. That is a modest intraday upward bias inside a sideways micro-structure. It is useful for scalpers looking for quick mean-reversion longs, but not evidence of a genuine trend reversal.

M15 RSI

RSI 14 (M15): 58.86

RSI leaning toward 60 on the 15m tells you short-term buyers are a bit more aggressive. This is a local bid, not a macro shift. It does, however, support the idea that pushing below 1.35 immediately might require fresh news or a broader risk-off spike.

M15 MACD & Bollinger Bands

MACD line: 0

Signal: 0

Histogram: 0

Bollinger mid: 1.36 USDT

Upper band: 1.37 USDT

Lower band: 1.35 USDT

MACD is flat and bands are tight with price near the top half, echoing the H1 picture: short-term controlled buying in a compressed volatility box. Any breakout move from here is likely to be fast compared with the current pace.

Putting It Together: Conflicting Timeframes

Daily trend is clearly bearish: price is below all major EMAs, RSI is depressed, and MACD is negative. On the other hand, H1 and M15 are neutral to slightly constructive, with price stabilizing around 1.37, intraday momentum flat, and a modest short-term bid.

This conflict usually resolves in one of two ways:

The higher timeframe reasserts, the daily downtrend resumes, and intraday consolidation breaks lower.

Intraday stabilization grows into a larger bounce, and XRP mean-reverts higher toward the daily EMAs before the market decides on the next big leg.

Given extreme fear across crypto, the market is vulnerable to both a capitulation flush and a sharp short-covering bounce. Positioning needs to respect that binary risk.

Bullish Scenario for Ripple Price (Against USDT)

The constructive path from here is a mean-reversion rally from this consolidation zone. In this context, the ripple price has room for a relief move if key levels hold.

For the bullish scenario:

XRPUSDT needs to hold above the 1.35–1.36 daily pivot/S1 area. That is the immediate floor. Consistent 1H closes above 1.37 would reinforce this view.

On H1, price should stay anchored above the 20/50 EMAs and then start pressing toward the 1.40–1.42 resistance band, where the H1 200 EMA sits.

A decisive break and hold above 1.42 would be the first real signal that the market wants to challenge the daily Bollinger mid at 1.58 and then the EMA 20 at 1.55. That area (1.55–1.60) is the natural first target zone for a relief rally.

Momentum-wise, you would want to see daily RSI climb back above 40–45 and MACD histogram turning positive on lower timeframes, then flattening on D1.

If this plays out, the narrative shifts from controlled downtrend to oversold bounce inside a still-bearish macro structure. The bigger trend would remain down until daily closes reclaim and hold above the EMA 50 (around 1.76). Bulls do not need that for a tradeable relief leg, though.

What invalidates the bullish scenario? A clear, sustained break below 1.35 on the daily close with RSI failing to recover would undercut the idea of an immediate bounce. That would imply the consolidation was just a pause before another push lower, likely toward the lower Bollinger Band region around 1.16.

Bearish Scenario for Ripple Price

The bearish path is a continuation of the existing trend: intraday stabilization fails, and the higher timeframe downtrend resumes. Sellers would then look to press price toward deeper support zones.

For the bearish scenario:

Price loses the 1.35 support with conviction, turning the current pivot zone into resistance instead of support.

H1 RSI rolls back under 45 and MACD on H1 dips more firmly negative, confirming that sellers have retaken control of the short-term tape.

On the daily chart, price drifts or accelerates toward the lower Bollinger Band at 1.16. In an extreme fear environment, a spike into or slightly through that band would fit a capitulation phase.

ATR on D1 could tick higher as ranges expand, signaling a volatility expansion to the downside.

In this scenario, rallies back into 1.36–1.40 are likely to be treated as selling opportunities by trend-followers, at least until the daily structure changes meaningfully and key EMAs are reclaimed.

What invalidates the bearish scenario? A firm reclaim of the 1.42–1.45 zone on a closing basis with intraday EMAs flipping into supportive roles would weaken the continuation case. If daily closes start to stack above the EMA 20 around 1.55, the narrative shifts away from sell the rip and toward a more balanced or even constructive medium-term bias.

Positioning, Risk and Uncertainty

XRPUSDT is currently a bearish-trend, low-volatility, high-fear market. The downtrend is intact on the daily chart, but intraday data shows the first signs of balance and a mild bid at 1.37. That combination often precedes either a final washout or the start of a grinding recovery.

For traders, the key is to recognize that:

The macro bias remains bearish as long as XRP trades under the daily EMAs (1.55 / 1.76 / 2.17).

The tactical battleground right now is the 1.35–1.38 band, where pivots and short-term EMAs cluster.

Extreme fear and compressed intraday volatility mean that when the next move comes, it can be sharper than current ranges imply.

Whether traders lean bullish or bearish, the environment calls for respecting both downside continuation risk and the possibility of a sharp mean-reversion rally. Position sizing, leverage, and stop placement matter more than usual here because the market can move quickly once it chooses a direction out of this consolidation zone.

Markets are in a fragile spot, and Cardano price today reflects a tired but still dominant bearish structure pressing against a key support level.

ADA/USDT daily chart with EMA20, EMA50 and volume”
loading=”lazy” />ADA/USDT — daily chart with candlesticks, EMA20/EMA50 and volume.

Cardano price today: where ADA stands

Cardano (ADA) is trading around $0.26 against USDT today. On the daily chart, ADA is clearly in a broad downtrend, trading well below all key moving averages. However, in the short term, the market is trying to stabilize around this $0.26 area, with intraday timeframes showing a pause, not a reversal, in selling pressure.

This moment matters because it looks like a classic late-stage downtrend: sentiment across crypto is in Extreme Fear (fear & greed index at 9), total market cap is slipping (-1.3% in 24h), and BTC dominance is high around 56.6%. Risk appetite is low, and ADA, as a high beta alt, is feeling it. The key question here is whether $0.26 holds as a base for a bounce, or whether the broader bearish regime simply grinds it lower.

On balance, the main scenario from the daily timeframe is bearish. Lower prices remain the path of least resistance unless buyers can reclaim key levels above $0.29–0.30.

Daily timeframe (D1): macro bias is still bearish

Trend & moving averages (EMA20 / EMA50 / EMA200)
– Price: $0.26
– EMA 20: $0.29
– EMA 50: $0.34
– EMA 200: $0.51

ADA is trading below the 20, 50 and 200-day EMAs, with a wide gap to the 200-day at $0.51. That is a textbook bearish structure, with shorter EMAs stacked under longer ones and price pinned at the bottom.

In plain terms: the trend is down, and any rally toward $0.29–0.34 is, for now, more likely a bounce within a downtrend than the start of a new bull leg.

RSI (14-day): 34.9
RSI is sitting just under 35, below the midpoint but not deeply oversold.

That tells you bears are in control, but the market is not fully washed out yet. There is room for another leg lower before you get the kind of capitulation-style reading that often precedes a bigger bounce.

MACD
– MACD line: -0.03
– Signal line: -0.03
– Histogram: 0

MACD is flat and overlapping the signal line around the same negative value, with essentially no histogram.

This is what trend exhaustion looks like: momentum is still on the bearish side, but the push lower is losing energy. It is more of a slow bleed than an aggressive selloff right now.

Bollinger Bands (20-day)
– Middle band: $0.30
– Upper band: $0.37
– Lower band: $0.22
– Price: $0.26 (below the middle, above the lower band)

ADA is trading in the lower half of the band range, but not hugging the lower band.

That fits the picture of a controlled downtrend rather than panic selling. Sellers are dominant, but they are not dumping at any price. Pressure is consistent, not climactic.

ATR (14-day): $0.02
Average daily range is around two cents at this price level.

Volatility is modest. We are not in a high-volatility capitulation phase. Instead, price is sliding in a relatively orderly fashion. That makes sudden multi-day trend changes less likely without a clear catalyst.

Daily pivot levels
– Pivot point (PP): $0.26
– Resistance 1 (R1): $0.27
– Support 1 (S1): $0.26 (very tight cluster around current price)

With price sitting right on the daily pivot, the market is balanced intraday around this level.

Think of $0.26 as the current battlefield. A sustained break above pushes the very short-term tone slightly constructive. A break and hold below would confirm sellers winning this local fight.

Overall, the daily chart says the dominant trend is down, momentum is weak but not reversing, and $0.26 is a fragile support area within a larger bearish regime.

Hourly timeframe (H1): stabilization, not a trend change

Trend & moving averages (H1)
– Price: $0.26
– EMA 20: $0.26
– EMA 50: $0.26
– EMA 200: $0.27
– Regime: neutral

On the hourly chart, price, EMA20 and EMA50 are all glued around $0.26, with EMA200 just above at $0.27.

This is a classic consolidation after a move down. Sellers are no longer in full control intraday, but bulls have not seized the initiative either. It is a pause inside the larger downtrend.

RSI (H1): 54.3
RSI is slightly above 50.

Intraday, the pressure is marginally skewed toward buyers, but there is no strong momentum. It is more of a dead-cat or range-trading environment than a clear trend reversal.

MACD (H1)
– MACD line: 0
– Signal line: 0
– Histogram: 0

MACD is completely flat on the hourly chart.

The market is in wait-and-see mode. Neither side is committing real size here, which fits with low conviction and low volatility.

Bollinger Bands (H1)
– Middle band: $0.26
– Upper band: $0.27
– Lower band: $0.26

Bands have tightened significantly.

Band compression like this often precedes a volatility expansion. In other words, the next move is likely to be sharper than the recent chop, but direction is still up for grabs.

ATR (H1): ~0
ATR on the hourly is effectively at zero in the data, reflecting extremely tight recent ranges.

Price is coiling. When hourly ATR starts to tick up from these levels, that is usually your hint that a directional move is underway.

15-minute timeframe (M15): short-term bullish bias, but only for execution

Trend & moving averages (M15)
– Price: $0.26
– EMA 20 / 50 / 200: all around $0.26
– Regime: bullish

The 15-minute regime is flagged as bullish, but in reality all EMAs are clustered, similar to the hourly chart.

Microstructure is a bit more supportive of buyers. You likely have a slight upward tilt within a tight range, but this is noise relative to the bearish daily picture. It matters mainly for timing entries and exits, not for defining the main bias.

RSI (M15): 57.2
RSI leans to the upside but is far from extended.

Short-term scalpers are getting better entries on the long side for now, but this can flip quickly if $0.26 gives way.

MACD (M15): flat
MACD line, signal and histogram are all basically zero.

There is no strong intraday follow-through in either direction. This is a holding pattern.

Bollinger Bands & ATR (M15)
– Bands tight around $0.26–0.27
– ATR near zero

The very short-term tape is extremely compressed, which creates good conditions for sudden stop runs in either direction when liquidity thins.

Bullish and bearish scenarios for ADA from here

Dominant bias: Bearish (from the daily chart)
The daily downtrend and positioning below all major EMAs keep the higher-timeframe bias bearish, despite the short-term consolidation.

Bullish scenario for Cardano

For bulls, the game is about turning this consolidation into a base.

Hold $0.26 support on the daily close.

Push back toward $0.29 (EMA20 / Bollinger mid) and reclaim it decisively.

See RSI lift back above 40–45 on the daily and MACD start to curl higher from negative territory.

If buyers manage that, the next upside magnets are:

First, the $0.29–0.30 zone, which is mean reversion to short-term fair value.

Next, a potential extension toward $0.34 (EMA50) if broader market risk appetite improves and crypto moves out of Extreme Fear.

What invalidates the bullish case?
A clean break and daily close below $0.26, especially if RSI rolls back toward 30 and ATR starts to expand, would weaken the bull thesis significantly. That would confirm that this was not a base, just a pause before the next leg lower.

Bearish scenario for Cardano

The bearish scenario aligns with the current regime.

$0.26 fails as support with a decisive move lower.

Daily RSI drifts toward or below 30, and volatility (ATR) kicks up from current subdued levels.

Hourly structure breaks down, with price rejected from the $0.26 pivot and unable to trade back above it.

Under that path, price can rotate toward the lower Bollinger band area around $0.22 on the daily as the next logical downside zone. This would still fit within the broader Cardano price today bearish environment unless higher timeframes flip.

What invalidates the bearish case?
If ADA can not only bounce from $0.26 but also hold above $0.29–0.30 on daily closes, pulling EMA20 flatter and lifting RSI away from the 30s, the argument for a persistent downtrend weakens. A strong reclaim of $0.34 (EMA50) would directly challenge the bearish structure.

Positioning, risk, and how to think about ADA here

This is a classic point in the cycle where longer-term trend and short-term structure disagree. The daily chart says the trend is down, but intraday charts show compression and mild bullish tilt. That tension often resolves in a sharp move once volatility returns.

Key takeaways for traders evaluating ADA today:

Trend vs. bounce: Any upside from here, at least initially, should be treated as a counter-trend move until ADA can reclaim $0.29–0.34 and hold it. The daily EMAs are still overhead and acting as dynamic resistance.

Volatility risk: Very low ATR on intraday timeframes means breakouts can be abrupt when they come. Tight consolidation at the end of a downtrend can deliver either a relief rally or an acceleration lower.

Macro backdrop: Extreme Fear and rising BTC dominance signal a risk-off crypto environment. In those conditions, altcoins like ADA tend to underperform unless there is a strong idiosyncratic catalyst.

In short, Cardano is trading in a market that is tired of selling but not yet willing to buy aggressively. The broader structure is still bearish, and until the daily chart proves otherwise, rallies are guilty until proven innocent. Managing position size, respecting the $0.26 pivot, and being prepared for a volatility expansion in either direction are more important here than trying to call the exact bottom.

Analyst Mike McGlone has sparked new debate by suggesting the USDT stablecoin may one day overtake Bitcoin and Ethereum in overall crypto market influence.

Mike McGlone’s bold forecast on shifting crypto power

Bloomberg Intelligence strategist Mike McGlone has argued that the USDT token could ultimately eclipse both Bitcoin and Ethereum in market prominence. His view, shared in recent analysis, is not based on speculative rallies but on long-term structural forces shaping the digital asset industry.

According to McGlone, dollar-pegged digital assets are positioned to capture sustained demand as investors seek safety, liquidity, and easy global access. Moreover, he believes this preference for stability over volatility could gradually shift leadership away from classic crypto assets toward stable-value tokens.

Such an outcome would mark a historic change in a sector where Bitcoin and Ethereum have dominated since at least 2015. For more than a decade, these networks have defined crypto’s narrative around decentralization, scarcity, and innovation. However, if stable-value tokens rise above them, the definition of leadership in digital assets could be rewritten.

Why the USDT stablecoin keeps expanding worldwide

The USDT token is issued by Tether as a dollar-pegged digital asset designed to maintain a one-to-one value with the US dollar. This structure makes it fundamentally different from traditional cryptocurrencies that fluctuate freely in price.

Traders increasingly rely on USDT for day-to-day liquidity. During periods of extreme volatility, they park capital in the token rather than exiting exchanges entirely. Moreover, many trading platforms use it as a primary quote asset, pairing it with a wide range of cryptocurrencies to streamline pricing and settlement.

Cross-border users also lean on USDT to move value quickly across jurisdictions. Instead of depending on slow or expensive banking channels, they send tokenized dollars on-chain. That practical use in daily transactions continues to deepen stablecoin dominance within the crypto economy.

Unlike Bitcoin and Ethereum, USDT does not depend on price appreciation to remain relevant. Its strength lies in transaction volume, settlement activity, and integration into financial applications. That said, as more participants use it as a transactional currency, its overall footprint naturally grows.

The shift from speculation to stability

For years, Bitcoin has been framed as digital gold, while Ethereum has served as a base layer for smart contracts and decentralized applications. These narratives helped fuel explosive bull markets. However, harsh drawdowns during each cycle have repeatedly highlighted their volatility.

During turbulent phases, investors frequently rotate capital into dollar-pegged tokens like USDT. This move allows them to stay inside the crypto ecosystem while sidestepping sharp price swings. Moreover, institutional players that require predictable settlement values often favor stable pricing over exposure to market risk.

In regions facing local currency instability, demand for digital dollars becomes even more evident. People increasingly use stable-value tokens as substitutes for physical cash or fragile domestic currencies. This behavioral shift supports McGlone’s thesis that structural demand for stability may ultimately outweigh speculative interest.

Could stablecoin dominance really surpass Bitcoin and Ethereum?

As of today, Bitcoin and Ethereum still command higher market capitalizations than the USDT token. However, market leadership in crypto has never been static. Each cycle has introduced new categories, from smart contract platforms to DeFi and non-fungible tokens, proving that hierarchy can change.

If stable tokens continue to capture a rising share of transaction volume and institutional workflows, their capitalization could expand substantially. Moreover, stablecoin dominance in trading pairs and settlement flows already signals growing structural importance beyond speculative phases.

On many days, USDT ranks among the highest traded digital assets by volume worldwide. Its liquidity routinely exceeds that of individual cryptocurrencies, including some large-cap tokens. These patterns show that users treat it less as an investment and more as core transactional infrastructure.

McGlone suggests that if global finance integrates digital dollars more deeply, the usdt stablecoin could become a primary gateway between traditional markets and blockchain-based systems. Governments are actively debating central bank digital currencies, while payment providers explore distributed ledger rails. Stable-value tokens sit at the intersection of these developments.

Crypto market trends reinforcing the stablecoin story

Several broader crypto market trends reinforce the strategic role of stable-value tokens. First, policymakers in multiple jurisdictions are increasingly focusing on frameworks for regulated dollar-pegged assets. This emerging stablecoins regulatory landscape often treats them as more predictable instruments compared with highly volatile tokens.

Regulatory progress, while uneven, tends to support institutions that want controlled exposure to digital assets. As rules clarify reserve management, transparency, and redemption rights, large investors may feel more comfortable using stable tokens for settlement and cash management.

Second, decentralized finance has embedded USDT and other stable-value assets into its core infrastructure. Lending protocols, derivatives platforms, and yield strategies frequently use them as collateral and base currency. Moreover, this integration creates persistent demand that is largely independent of speculative price cycles.

Third, global remittances and cross-border payments remain a powerful driver. Users in developing economies often prioritize instant access to US dollars over exposure to volatile crypto assets. In this context, USDT offers speed, accessibility, and a currency they already recognize. That functional advantage supports long-term adoption curves.

The broader implications for the digital asset economy

McGlone’s analysis highlights a deeper transition underway across digital markets. Crypto is slowly moving beyond its early focus on ideological decentralization and speculative trading. Instead, it is being woven into the fabric of traditional finance, from payments to capital markets infrastructure.

Stable-value tokens act as a practical bridge between these two worlds. They enable dollar-denominated transactions on public blockchains while remaining familiar to institutions and retail users alike. Moreover, their growing share of volume indicates that real-world use cases are gaining ground on pure speculation.

In that sense, stablecoin dominance can be read as a sign of maturation. It suggests that users increasingly prioritize reliability, liquidity, and settlement efficiency. The USDT token, with its entrenched role in trading, DeFi, and remittances, may become a symbol of this next phase in digital finance.

Whether it ultimately overtakes Bitcoin and Ethereum in capitalization remains uncertain. However, the very fact that analysts now entertain this possibility underscores a turning point. Crypto leadership may soon be defined as much by stability and scale as by volatility, scarcity, and visionary technology.

In summary, McGlone’s forecast forces markets to confront an important question: if users continue to favor stable-value infrastructure over volatile assets, the balance of power across digital finance could shift more dramatically than many expect.

Investors are reassessing digital asset risks after Standard Chartered issued a sharp downgrade to its long-term bitcoin forecast amid mounting macroeconomic concerns.

Standard Chartered trims 2026 crypto targets again

Standard Chartered has reduced its long-term Bitcoin price outlook for the second time in less than three months, underscoring growing caution around the asset. The bank now expects the cryptocurrency to reach a lower target by the end of 2026, although it did not publish a precise figure in the latest note.

According to the research, the new estimate marks a significant step down from the bank’s earlier projection, which had already been cut in December. Moreover, the tone of the report signals that previous bullish assumptions on digital assets are being reassessed as conditions change.

The downgrade was presented in a client note released on Thursday by Geoff Kendrick, the bank’s head of digital assets research. However, while the numerical targets have moved lower, Kendrick stressed that the analysis still contemplates eventual price recovery by 2026, even if the path proves volatile.

ETF outflows and Fed delay darken Bitcoin sentiment

According to Bloomberg, the bank’s more cautious stance reflects a mix of weakening macroeconomic conditions and changing investor behavior. Over the past month, the market downturn has intensified, and Bitcoin has fallen sharply from its October peak, eroding confidence among leveraged traders.

At the same time, US spot Bitcoin ETFs have recorded sizeable net outflows, reversing the strong inflows seen earlier in the cycle. That said, the report notes that these outflows have removed a critical source of structural demand, which previously helped fuel rallies and stabilize pullbacks.

Kendrick argued that slowing US growth momentum and reduced expectations for near-term Federal Reserve rate cuts have combined to pressure digital assets. Moreover, shrinking ETF holdings, in his view, amplify downside moves because they represent institutional capital stepping back from the market.

The interest-rate backdrop remains a central concern for cryptocurrency traders. Market participants have steadily pushed back their expectations for Fed easing, with many now anticipating that the first rate cut may arrive later in the year than previously thought. This repricing has tightened financial conditions and weighed on risk assets, including Bitcoin.

Kendrick also pointed to uncertainty over future Fed leadership as another element undermining conviction. However, he did not specify any particular candidate risk, instead framing the issue as part of a broader macro and policy fog that keeps some investors on the sidelines.

Investor capitulation risk and bitcoin forecast implications

The bank warned that deteriorating macroeconomic conditions and the potential for deeper investor capitulation could continue to pressure prices in the near term. In particular, it flagged the risk that longer-term holders might sell if volatility spikes again or if economic data deteriorate further.

Moreover, the analysis suggests that persistent ETF outflows could reinforce this capitulation dynamic, especially if retail demand does not return quickly. In such a scenario, liquidity conditions on major exchanges could tighten, leaving the market more vulnerable to abrupt downside moves.

Despite these risks, Kendrick emphasized that the current drawdown looks more orderly than previous crashes. The report notes that leverage levels appear more contained than in 2022, and that the market has not seen the same degree of forced liquidations or cross-platform contagion that followed the collapse of Terra/Luna and FTX.

On-chain activity points to healthier crypto market structure

Standard Chartered highlighted that on-chain data still paints a comparatively resilient picture. According to the bank, core network usage indicators show improvement, suggesting that Bitcoin and Ethereum are continuing to attract transacting users even as speculative interest has cooled.

For example, metrics related to on-chain activity and fees indicate that the underlying networks remain active. However, the bank cautioned that healthy usage alone may not be sufficient to offset macro headwinds if risk appetite continues to fall and liquidity tightens across global markets.

That said, the absence of high-profile platform failures in the current cycle marks an important contrast with 2022, when the implosions of Terra/Luna and FTX triggered widespread fear and credit stress. This time, the report argues, the structural plumbing of the crypto ecosystem appears more robust, even as token prices correct.

Ethereum target cut alongside Bitcoin

Alongside the Bitcoin downgrade, Standard Chartered also reduced its 2026 Ethereum price target. The note explains that, while the bank still expects Ether to reach that new level by the end of 2026, the path could involve a substantial decline first.

Moreover, analysts pointed out that Ethereum’s on-chain and network usage trends look comparatively healthy versus some other altcoins. However, macroeconomic pressures, tighter financial conditions and shifting investor positioning mean that Ether is unlikely to be fully insulated from broader crypto market weakness.

The bank did not provide a detailed breakdown of the assumptions behind the new ETH level in this summary. Instead, it framed the move as part of a wider reassessment of digital asset valuations in light of slower growth, delayed Fed easing and reduced institutional demand via ETFs.

Outlook for crypto under macroeconomic headwinds

Looking ahead, Standard Chartered reiterated that the coming quarters could remain challenging for digital assets as crypto macroeconomic headwinds persist. In particular, a prolonged period of higher-for-longer interest rates would likely cap upside scenarios and keep volatility elevated.

However, the bank still sees a potential for recovery by 2026 if inflation continues to moderate and central banks eventually transition toward easier policy. Under such conditions, renewed inflows into regulated products, such as spot Bitcoin ETFs, might restore some of the structural demand lost during the current outflow phase.

In summary, Standard Chartered’s latest research underscores a more cautious stance on Bitcoin and Ethereum, driven by ETF outflows, Fed uncertainty and the risk of investor capitulation. Yet it also stresses that the underlying networks appear healthier than during previous crises, leaving room for a longer-term rebound if macro conditions eventually improve.

With Binance expanding its support for digital dollars, binance rlusd integration on XRP Ledger is set to accelerate institutional-grade stablecoin activity across global markets.

Binance opens RLUSD deposits via XRP Ledger

Binance has completed a key infrastructure upgrade, adding Ripple USD (RLUSD) support on the XRP Ledger (XRPL). The move gives millions of international users a faster settlement rail for stablecoin transfers and broadens their on-ramp options into the exchange.

The worlds largest exchange confirmed that XRP Ledger deposits for RLUSD are now fully operational. However, while deposits are live, withdrawals remain temporarily on hold. Binance stated that withdrawals will only open once there is sufficient RLUSD liquidity on the network to support smooth flows.

Users can now send RLUSD tokens directly from external XRPL wallets to their Binance accounts. This integration leverages Ripple’s native blockchain speed to align with the exchange’s high-volume environment. Moreover, the Binance RLUSD connection is viewed internally as a first step toward more institutional-level stablecoin infrastructure.

The exchange is rolling out this integration gradually to maintain a healthy trading environment. That said, traders already benefit from the ability to move assets freely from existing non-custodial wallets to the platform. As a result, the Binance RLUSD collaboration further deepens the strategic relationship between Binance and Ripple.

Speed and costs: RLUSD on the XRPL

The launch of Ripple USD is designed around performance-focused financial transactions and rapid settlement. On average, XRPL transactions settle in about 3 to 6 seconds, making it significantly faster than most traditional payment systems used for cross-border transfers.

Moreover, transaction fees on the XRP Ledger are highly competitive for high-volume participants. Network costs start as low as 0.00001 XRP per transaction. These minimal overheads help keep the cost of moving coins, particularly stablecoins like RLUSD, extremely low even during periods of active trading.

The broader binance rlusd strategy is therefore built around efficiency and speed. The exchange aims to provide one of the fastest available settlement layers for stablecoins tied to major fiat currencies. Once withdrawals go live, market observers expect an uptick in cross-border liquidity flows, especially between institutional desks.

Another important dimension of the Ripple USD rollout is its positioning as a USD-pegged, regulated alternative in the stablecoin sector. All RLUSD tokens are reportedly backed by high-quality government reserves. Such transparent backing is attractive for risk-averse institutional investors seeking clarity on collateral quality.

Trading pairs, Earn and Convert features

In preparation for the infrastructure upgrade, Binance had already listed multiple RLUSD market pairs. These include RLUSD/USDT, RLUSD/U, and XRP/RLUSD, giving traders direct access to the new stablecoin against both XRP and leading dollar-pegged assets.

Additionally, the exchange expanded support to its Earn and Convert suites for the stablecoin. These features allow customers to deploy RLUSD in yield-bearing products and convert between assets more efficiently. However, the exact yields and product configurations may vary over time based on market conditions.

Through its internal conversion engine, Binance enables RLUSD holders to move between BTC, ETH, and RLUSD with effectively zero slippage under normal liquidity conditions. That said, this technical synergy is designed to enhance the day-to-day experience of active traders, arbitrageurs, and liquidity providers who depend on predictable execution.

Following the latest integration phase, users can now generate deposit addresses and send RLUSD instantly to the XRP Ledger via Binance. Before this rollout, the stablecoin had already been listed on several major platforms, including Bitstamp, Kraken, Gemini, and Bitget. This multi-exchange presence supports deeper liquidity.

Today, RLUSD is available on more than 16 exchanges worldwide. Moreover, the growing number of listings is increasing its visibility among both institutional and retail clients that require regulated dollar substitutes for trading and payments.

RLUSD price analysis and XRP market backdrop

Since the introduction of the Ripple stablecoin RLUSD in December, the token has shown steady performance. The price has traded in a narrow band, holding almost exactly at 1, consistent with its USD peg. Over the same period, its market capitalisation has climbed to about 1.52 billion, underscoring accelerating adoption.

On the 24-hour chart, XRP itself is flashing a familiar bullish divergence pattern as it trades near $1.40. The price has formed lower lows, while the RSI has been printing higher lows. This is the same setup that preceded a 28% rebound in December, making it closely watched by technical traders.

Additionally, XRP’s outlook is supported by a recent partnership with UAE-based Zand to enable infrastructure for RLUSD, AEDZ, and broader XRP Ledger use cases. However, as always in crypto markets, future performance remains highly sensitive to macro conditions, regulatory developments, and on-chain volumes.

Current market trends show rising demand for transparent, well-collateralized stablecoins as investors rotate out of less-regulated digital dollar alternatives. In this context, the Binance RLUSD integration positions Binance as an early mover in regulated stablecoin infrastructure and strengthens XRP Ledger’s role in stablecoin cross border transfers.

In summary, Binance’s decision to activate RLUSD deposits via the XRP Ledger, combined with trading pairs, Earn access, and future withdrawals, signals a broader shift toward faster, cheaper, and more transparent stablecoin rails for global users.

With Washington intensifying its focus on digital assets, the CFTC innovation committee is emerging as a central venue for industry input on future market rules.

CFTC unveils 35-member Innovation Advisory Committee

The Commodity Futures Trading Commission on Thursday released the full roster of its new Innovation Advisory Committee, confirming a 35-member panel that includes 20 executives tied directly to crypto companies. The group will advise on how emerging technology is reshaping financial markets.

CFTC chair Mike Selig said the committee will “ensure the CFTC’s decisions reflect market realities” as the agency develops rules for novel products and platforms. The panel initially launched in January with 12 charter members before expanding to the final 35-member lineup, signaling a broader consultation effort.

The new body formally replaces the CFTC’s Technology Advisory Committee, which previously focused on how innovations affected derivatives markets in general. Now, however, the revamped structure will zero in on commercial and economic implications of specific business models, including those tied to digital assets.

Crypto exchange and blockchain leaders dominate the lineup

Selig has signaled that the CFTC will take a more receptive stance toward crypto under his leadership. Moreover, the agency has begun coordinating more closely with the Securities and Exchange Commission on digital asset policy as crypto regulation gains urgency.

Executives from major crypto exchanges hold several of the most prominent seats. Appointees include Coinbase CEO Brian Armstrong, Gemini CEO Tyler Winklevoss, Crypto.com CEO Kris Marszalek, and representatives from Kraken, underscoring the CFTC’s focus on trading platforms.

Leaders from blockchain and protocol companies also feature heavily. The committee includes Ripple CEO Brad Garlinghouse, Solana Labs CEO Anatoly Yakovenko, and Uniswap CEO Hayden Adams, reflecting the regulator’s interest in both layer-1 and decentralized exchange ecosystems.

Venture capital and prediction markets gain a voice

Crypto venture capital firms secured structured crypto venture capital representation on the panel, highlighting the CFTC’s interest in early-stage innovation flows. Notable members include a16z Crypto partner Chris Dixon, Framework Ventures co-founder Vance Spencer, and Paradigm representative Alana Palmedo.

Prediction market companies also won influential seats as regulators examine that sector more closely. Appointees include Polymarket CEO Shayne Coplan and Kalshi CEO Tarek Mansour, placing two of the most closely watched platforms directly at the advisory table.

At least five members of the committee are involved in prediction markets, a sign of growing prediction market regulation interest at the agency. That said, the panel is not limited to crypto-native entities, even if they now represent a large share of its membership.

Traditional finance and market infrastructure represented

The roster extends beyond digital asset specialists to include mainstream trading and custody players. Other high-profile appointees include Robinhood CEO Vladimir Tenev, Grayscale CEO Peter Mintzberg, Blockchain.com CEO Peter Smith, and Anchorage Digital CEO Nathan McCauley.

Moreover, the committee draws in executives from large market operators and clearing houses. Representatives from Nasdaq, Intercontinental Exchange, Cboe Global Markets, and CME Group were appointed, ensuring substantial traditional finance participants cftc are present alongside crypto leaders.

CFTC chair Selig stressed that the panel brings together stakeholders from “every corner of the marketplace.” Traditional market infrastructure providers such as DTCC and the Options Clearing Corporation also have representatives, anchoring the discussion in long-established risk management practices.

Mandate, scope, and link to Project Crypto

The cftc innovation committee is tasked with advising on commercial and economic considerations of emerging products, platforms, and business models. It will examine how new technologies intersect with market integrity, customer protection, and fair competition across derivatives and spot markets.

The CFTC noted it will seek input not only from industry, but also from other regulatory bodies and academia. Public interest groups will be consulted as policies are shaped, which could broaden the debate beyond purely commercial priorities and strengthen legitimacy.

The committee’s formation coincides with the CFTC and SEC’s joint “Project Crypto” initiative. This coordination effort aims to modernize digital asset oversight across both agencies, and it could influence how token markets, exchanges, and related financial products are supervised in the coming years.

Future direction for US crypto and derivatives oversight

Selig described the launch of the committee as “an important and energizing moment at the CFTC.” He argued the panel will help the agency “future-proof its markets” by engaging directly with innovators while maintaining core regulatory safeguards.

In practice, the committee’s work is likely to shape how the CFTC approaches issues ranging from derivatives on crypto assets to oversight of new trading venues. However, much will depend on how diverse interests on the panel reconcile innovation with investor protection and market stability.

Overall, the expanded committee structure signals that US derivatives regulators are moving toward a more systematic dialogue with both crypto-native firms and established financial institutions, as digital assets continue to converge with traditional markets.

Industry debate has intensified as binance rumors resurface over BitMEX trading, the March 2020 covid market crash, and the exchange’s emergency fund moves.

CZ rejects BitMEX profit allegations

Changpeng Zhao, the former chief executive of Binance, has once again moved to defend the exchange, denying claims it secretly traded on BitMEX and profited from client activity during the COVID panic. The latest allegations center on supposed gains of 60,000 BTC made during the March 2020 market collapse.

The controversy reignited after a user on X alleged that Binance was the most profitable entity on BitMEX during the March 12, 2020 crash. According to this trader, the exchange allegedly earned over $240 million by hedging customer positions, posting what they described as the largest withdrawal and highest PnL ever seen on the derivatives platform.

Zhao dismissed the story outright, responding on X that it was “Fake news. They are just making things up randomly now. Not sure what their goal is. I feel bad for the people believing this without seeing any proof.” His comment underscored how quickly unverified claims can spread across social media.

Binance says it never traded on BitMEX

Addressing the accusations in more detail, Zhao insisted that the trading platform has never traded on BitMEX. Moreover, he referenced BitMEX co-founder Arthur Hayes, saying that his friend would certainly know if such outsized profits and withdrawals had occurred on the exchange.

He further argued that the BitMEX withdrawal process, which handles withdrawals only once per day, made the alleged movement of 60,000 BTC implausible. That said, Zhao did not share internal Binance records, instead leaning on operational logic and public process details to rebut the claim.

Responding to another comment under his post, Zhao suggested that the accuser might be spreading the rumor to draw “not-so-sophisticated” users to their own platform. However, he did not name the entity or provide specific evidence about the alleged ulterior motives.

The March 2020 COVID crash context

The disputed claims tie back to one of the most violent selloffs in bitcoin‘s history. On March 12, 2020, as pandemic fears intensified, bitcoin plunged from about $8,000 to nearly $3,800 within roughly half a day. The sudden move triggered a liquidity crisis across crypto exchanges, as buy orders failed to absorb the overwhelming selling pressure.

BitMEX, then considered one of the most active crypto derivatives venues, saw approximately $750 million in bitcoin positions liquidated within minutes. Moreover, cascading liquidations and system strain prompted long-running debates about how leverage and risk engines amplified the COVID crash.

Traditional markets also experienced historic turmoil at the same time. On the stock market front, the Dow Jones Industrial Average fell more than 2,000 points in intraday trading. The S&P 500 dropped 7.6%, oil prices slipped by 22%, and yields on 10-year and 30-year US Treasury bonds fell below 0.40% and 1.02%, respectively.

Regulatory pressure on BitMEX and Arthur Hayes

Regulatory fallout from that era soon followed. About two months after the crash, the US Department of Justice moved against BitMEX leadership. Ultimately, the Southern District of New York sentenced Arthur Hayes to six months of home detention for violating the Bank Secrecy Act.

The court found Hayes guilty of failing to implement and maintain proper anti-money laundering compliance procedures at BitMEX. However, prosecutors argued that because the platform lacked robust know-your-customer controls at the time, the full extent of any misconduct could remain unknowable.

BitMEX later settled with the US Department of the Treasury by paying $100 million. The exchange neither admitted nor denied conducting more than $200 million in suspicious transactions, underscoring how regulatory scrutiny reshaped the derivatives landscape in the years following the pandemic crash.

Binance pushback on wider FUD and selloff claims

Zhao’s latest comments arrive as Binance faces a sustained wave of criticism and speculation, which he repeatedly labels as FUD. Since October last year, the exchange has confronted a series of narratives linking it to price manipulation, aggressive selling, and deteriorating trust in centralized platforms.

At the start of February, Zhao denied claims that Binance dumped bitcoin to trigger a weekend selloff that drove prices below $75,000. Some crypto commentators went so far as to suggest that he had single-handedly canceled the long-theorized “supercycle” in digital assets.

He also rejected separate stories that Binance offloaded $1 billion in bitcoin to push the market down toward $60,000. According to Zhao, those bitcoin transactions discussed on social media came from regular users trading on the exchange, not from the company itself. His comments directly targeted ongoing binance selloff allegations circulating in trading communities.

Defending Binance wallet balances and SAFU strategy

Zhao stressed that internal balances reflect customer behavior rather than corporate trading. “Binance’s wallet balance only changes when users withdraw. Most users keep their balance with Binance and use Binance as a wallet,” he said, arguing that on-chain movements should not be misread as evidence of coordinated dumping.

Moreover, he defended the pace and structure of the exchange’s plan to convert its SAFU reserves from stablecoins into bitcoin within 30 days, a strategy announced at the end of January. He explained that binance safu reserve conversion trades would be executed in multiple tranches rather than via decentralized exchanges.

According to Zhao, market participants should not expect to see these orders routed through a DEX. “You won’t see them buying using a decentralized exchange (DEX). Binance is a CEX with the best liquidity in the world,” he argued, positioning the platform’s deep order books as an advantage when executing large risk-management transactions.

Final tranche of SAFU conversion completed

As reported by Cryptopolitan, the exchange has already completed the final tranche of its emergency reserve strategy. It purchased 4,545 BTC, worth roughly $305 million, for the SAFU pool to conclude its program to convert $1 billion of stablecoin reserves into 15,000 BTC.

This latest step closes a multi-stage accumulation effort that began with the initial announcement of the conversion plan. However, some market watchers continue to link these bitcoin purchases to broader price swings, while Zhao maintains that the binance rumors around coordinated dumping or engineered volatility remain unfounded.

In summary, Zhao’s responses underscore a widening rift between public speculation and verifiable data. As regulatory histories, market crashes, and large fund movements keep colliding, investors are likely to scrutinize both Binance statements and on-chain flows even more closely.

As traditional finance experiments with blockchain-based markets, ethereum tokenization is gaining traction even as ETH trades below key resistance levels.

ETHZilla brings aviation assets on-chain

ETHZilla has unveiled Eurus Aero Token I, billed as the first tradable tokenized aviation assets product on the Ethereum network, backed by jet engines leased to a major U.S. airline. The launch, announced on Feb 13, 2026, underscores how real world asset tokenization is expanding into the aviation finance sector.

The Eurus Aero Token I structure provides fractional exposure to income-producing aircraft engines that are already under lease contracts. Moreover, the product is issued natively on Ethereum infrastructure, giving investors blockchain-based traceability over the underlying assets and their associated cash flows.

The offering is designed for accredited investor token access, with returns targeted through lease-generated income. However, the use of smart contracts aims to streamline what is normally a complex aviation leasing structure, while improving transparency around payments and asset performance.

How Ethereum powers the aviation token product

By deploying the asset on-chain, ETHZilla is leveraging Ethereum asset tokenization to handle automated distributions, on-chain verification and lifecycle management. Smart contracts can record lease terms, track income distributions, and codify investor rights without relying solely on traditional intermediaries.

This setup also supports fractional jet engine token investment, lowering the minimum ticket size compared with typical aviation finance deals. That said, the initial focus on accredited investors shows the project remains aligned with existing regulatory frameworks rather than pursuing a fully retail model.

The ETHZilla initiative adds momentum to the broader trend of Ethereum real world assets being settled and administered on public blockchains. Moreover, aviation joins a growing list of sectors experimenting with on-chain instruments, including real estate, private credit, and trade finance.

Market context for ETH and price levels

At the time of writing, Ethereum is trading around $1,937, down roughly 1% on the day, as the market consolidates after a sharp early-February sell-off. The broader trend on the daily chart remains bearish, with sellers still in control despite short-term stabilization.

According to TradingView data, ETH sits well below its 50-day Simple Moving Average (SMA), currently near $2,799. This distance from the 50-day SMA underlines the prevailing downside momentum and shows that the market has not yet reclaimed medium-term trend levels.

The chart structure since mid-January highlights a series of lower highs and lower lows, a classic sign of a short-term downtrend. Moreover, a steep breakdown in early February forced price below the $2,400 and $2,200 zones, confirming weakness and shaking out late buyers.

Key support, resistance and indicators

A sharp wick toward the $1,800 region marked a recent swing low before dip buyers stepped in. However, the subsequent rebound has been modest, with ETH now consolidating just underneath the psychological $2,000 barrier, where supply continues to cap upside attempts.

The Chaikin Money Flow indicator currently sits around -0.04, hovering near neutral but still slightly negative. This reading suggests that convincing capital inflows have not yet returned, reinforcing a cautious sentiment among traders even as volatility cools.

Immediate support is located near $1,900, followed by the recent swing low around $1,800. A decisive breakdown below that area could open the door to additional downside pressure toward the mid-$1,700 range, where some market participants expect stronger dip buying interest.

On the upside, initial resistance stands close to $2,000, with more substantial resistance around $2,200. A sustained push above those levels would be required for ETH to challenge the declining 50-day SMA near $2,799 and potentially shift the short-term bias.

What ETHZilla’s aviation token means for ethereum tokenization and price

The ETHZilla aviation product demonstrates how tokenization ethereum can extend into complex, capital-intensive verticals like aircraft leasing. However, the immediate impact on ETH price appears limited, as macro conditions and broader risk sentiment are still driving the market’s direction.

For now, the ETHZilla deal is another incremental step in the evolution of fractional aircraft engine tokens and other specialized on-chain instruments. Moreover, if more institutional-grade aviation and infrastructure deals migrate onto Ethereum, it could strengthen the network’s position as a preferred settlement layer for asset-backed products.

In summary, ETH trades around $1,937 in a bearish technical structure, while ETHZilla’s tokenized jet engine launch highlights the growing role of Ethereum in bridging traditional finance and blockchain-based markets.

As investors reassess risk across digital assets, the bitcoin market is navigating a deep drawdown even as structural participation and on-chain liquidity remain notably resilient.

Macro headwinds and the current market reset

Crypto markets remain in a sustained de-risking phase, shaped by macro headwinds, a holding Federal Reserve, fiscal uncertainty, and AI-driven capital rotation that has pushed BTC to a roughly 52% decline from its October 2025 all-time high. However, the key question is gradually shifting from how far prices can fall to when fresh demand returns.

Two dominant forces are steering this adjustment. The first is a rotation of attention and capital away from crypto and toward AI and other defensive narratives in equities and commodities. The second is policy: expectations of continued hawkish Fed positioning, the risk of another partial U.S. government shutdown, and persistent geopolitical and trade tensions have left the environment unreceptive to aggressive risk-taking.

With BTC touching lows near US$60K on February 5 before bouncing, it is increasingly useful to compare this cycle’s pullback with earlier ones. From the October 2025 peak, the decline now sits around 50%. Historically, corrections of this magnitude have occurred several times within broader bull cycles. That said, today’s market structure is more institutional, and liquidity channels, from centralized venues to on-chain rails, are significantly deeper.

Moreover, as Bitcoin consolidates, altcoins continue to lag badly. Their underperformance has been more severe than in prior cycles, reflecting a distinct rotation toward durability and away from speculative beta. Capital is concentrating in the largest assets by market value, which, while painful for smaller tokens, typically precedes the construction of more robust long-term foundations.

Supply expansion, token fatigue and long-tail dynamics

Token supply growth has compounded the damage. Roughly 11.6M out of the 20.2M tokens launched in 2025 are no longer actively traded. Many of these assets came to market without users, revenue, or defensible differentiation, leaving price discovery almost entirely driven by hype. Unsurprisingly, most now trade well below initial valuations, with liquidity having dried up.

The sheer volume of issuance fragmented investor attention across an increasingly crowded landscape. As a result, user fatigue set in faster, and projects with genuine fundamentals were forced to compete with a constant pipeline of short-lived launches. However, parts of the long tail have recently shown smaller percentage moves than major assets, suggesting much of the deleveraging and repricing occurred earlier in the cycle, leaving reduced marginal supply in the current phase.

Rather than signaling a renewed appetite for high-risk bets, this pattern likely points to gradually exhausted selling pressure. Moreover, recent weakness is not just a crypto-specific story. Equity markets have repriced risk as well, particularly within the software sector, following the rapid acceleration of the AI disruption narrative and its implications for margins and business models.

The distinction for digital assets is important. Equities have often sold off on fears of direct disruption to specific workflows, whereas in crypto the primary impact from AI is more about attention and sentiment. In past cycles, investors grew accustomed to altcoins dramatically outperforming while equities and commodities lagged. This time, AI-focused stocks, emerging markets, precious metals, and in some cases traditional commodities have outperformed BTC, creating a notable attention and liquidity divide.

That said, the AI disruption narrative also highlights an opportunity. The same agentic AI systems driving divergence in technology stocks are among the most compelling emerging users of on-chain payment rails and stablecoin infrastructure. AI agents transacting at machine speed across borders will require programmable, permissionless money, suggesting the medium-term use case is real even if the near-term allocation dynamic weighs on token prices.

Macro still sets the tone for crypto

Macro conditions continue to be the primary driver of crypto market direction, arguably more than at any other point in recent years. This week’s data was dominated by the January U.S. jobs report and its implications for the Federal Reserve’s reaction function.

January nonfarm payrolls came in ahead of expectations at 130,000, while the unemployment rate fell to 4.3%. On the surface this appears constructive, yet benchmark revisions painted a weaker backdrop. Annual adjustments showed only 181,000 total jobs were created in all of 2025, or roughly 15,000 per month, versus the 584,000 initially reported.

That makes 2025 the worst year for net job creation since 2020, or since 2003 when excluding recessions. In that context, January’s print looks more like stabilization in a fragile labour market than the start of a robust recovery. However, this nuance is what matters for markets: a solid jobs number in a truly strong economy would give the Fed room to ease policy, while a strong print in a cooling environment instead encourages policymakers to hold rates steady.

That is precisely the signal markets received. Rate cuts are not imminent, and with Kevin Warsh nominated as the incoming Fed Chair, uncertainty around the medium-term liquidity trajectory has increased. BTC has historically been the single most sensitive major asset to shifts in global liquidity conditions, even more than equities or gold. In a world where liquidity is being constrained, that sensitivity is a clear headwind.

The same dynamic, however, will become a tailwind once expectations shift toward easing. When liquidity improves, price moves in Bitcoin can be amplified on the upside as quickly as they have been on the downside. This asymmetry underpins why liquidity watchers remain focused on every incremental signal from the Fed and broader funding markets.

Where the structural case remains intact

Despite the current drawdown and headline noise, the structural tailwinds for crypto have not disappeared. In fact, this period resembles prior corrections where the product and fundamentals layer continues to quietly compound while speculative attention retreats. That is usually when the foundation for the next phase is built.

One of the clearest examples sits in spot BTC ETFs. Despite a roughly 50% price decline from the all-time high, aggregate ETF assets under management have only modestly retraced. This divergence suggests positioning is closer to long-term strategic allocation than short-term momentum capital, with the investor base appearing comparatively sticky.

There have even been windows of net inflows across several days, indicating genuine opportunistic accumulation rather than forced selling. Moreover, this resilience matters even more because another key flow channel this cycle, digital asset treasuries (DATs), has softened. DAT buyers are contributing less incremental demand, as prices sit below many acquisition levels and equity premiums have compressed, making balance-sheet expansion difficult to justify.

These entities are behaving more like holders than incremental accumulators. Meanwhile, stablecoin supply has remained near cycle highs. Unlike during prior downturns, capital has not aggressively exited the on-chain dollar system. Liquidity is present; it simply appears to be waiting for clearer catalysts.

Real-world assets and tokenization momentum

Real-world assets, or RWAs, continue to stand out in a risk-off environment, with capital preservation emerging as the dominant theme. The on-chain RWA market is approaching US$25B, led by tokenized treasuries, commodities, and yield-oriented structures that attract capital seeking stability, transparency, and programmable settlement. Adoption is accelerating across institutions that are actively testing tokenization pathways.

Tokenized commodities have expanded notably, rising more than 50% since the start of 2026. Tokenized gold has emerged as a key defensive building block in DeFi. With spot gold trading above US$5K per ounce, demand has created a powerful new source of inflows into on-chain products.

Tether Gold (XAUT) illustrates this trend, with market capitalization now above US$2.6B and supply exceeding 712K tokenized ounces. If elevated volumes persist beyond purely risk-off windows, a structural flywheel can form: deeper liquidity tightens spreads, improves routing efficiency, and enhances gold’s viability as DeFi collateral, with spillover benefits for other assets.

More broadly, the RWA thesis is unfolding largely as expected. Tokenized U.S. Treasuries account for around US$10.7B in on-chain value. Private credit, tokenized equities, and yield vaults continue to attract fresh allocations, while emerging markets show proportionally higher inflows and relative performance. That said, what stands out is the genuinely global nature of the opportunity, with participants ranging from fintechs to traditional asset managers.

Against this backdrop, the bitcoin market is increasingly intersecting with these tokenized cash flow streams as investors look to balance cyclical volatility with exposure to real-yield on-chain instruments and high-conviction infrastructure assets.

DeFi convergence and BlackRock’s tokenized fund move

Against the weak price backdrop, the week’s most significant development for decentralized finance came from BlackRock. Working with tokenization platform Securitize, the firm will make shares of its tokenized U.S. Treasury fund BUIDL tradable via UniswapX, the institutional order routing and settlement layer of the Uniswap ecosystem.

The importance of this decision is hard to overstate. BlackRock has been methodical in every step of its digital asset engagement, from launching spot BTC ETFs to BUIDL‘s initial on-chain issuance. Selecting a DeFi protocol for settlement signals growing confidence in the maturity and reliability of decentralized infrastructure, and it outlines a repeatable blueprint: regulated entry, compliant access controls, atomic settlement, and continuous market availability.

This structure is precisely what is required for equities, credit products, commodities, and ETFs to scale on-chain. Moreover, the subsequent purchase of Uniswap’s governance tokens adds another layer of relevance. The world’s largest asset manager has now taken economic exposure to a live DeFi protocol, not just its tokenized assets.

The reaction in the UNI token is instructive, not solely because of the 20–30% price move but because it demonstrates that liquidity is available and can mobilize rapidly when credible catalysts emerge. The market is not fundamentally impaired; it is cautious and patient. This episode reinforces the idea that tokens backed by real utility and protocol revenue are waiting for demand catalysts to drive repricing.

More broadly, the move marks tangible progress in the convergence between DeFi infrastructure and traditional finance and offers a template for what could follow across other verticals. Institutional participation is emerging in a market already producing measurable cash flows. Uniswap is one example, but not an outlier: borrowing, trading, and liquidity provision protocols across DeFi are supporting meaningful levels of usage and revenue generation.

Even so, performance dispersion remains visible beneath the surface. Sectors tied to clear utility and institutional engagement, such as RWAs and core DeFi infrastructure, have generally held up better on a relative basis. However, price action across the entire complex continues to be shaped primarily by macro and sentiment forces rather than idiosyncratic fundamentals.

Looking ahead: levels, catalysts and sentiment shifts

Market participants are likely entering a phase of elevated volatility as they search for clearer signals from both macro data and on-chain flows. Bitcoin’s realized price, a proxy for the aggregate cost basis across holders, currently sits around US$55,000. When spot price converges toward this level, a large share of holders move close to or below breakeven.

This tends to amplify psychological pressure, but it also magnifies the eventual significance of holding or losing that threshold. Stepping back, the broader backdrop differs meaningfully from earlier cycles. Markets are enduring a roughly 50% drawdown and a multi-trillion reduction in aggregate value, yet structural participation is deeper than ever before.

Stablecoin rails are firmly established, RWAs and tokenization are scaling, prediction markets are advancing, and global institutions are openly disclosing digital asset holdings or settling products on blockchain infrastructure. Moreover, the macro and structural environment is not a simple replay of 2018 or 2022. The drawdown is real, yet the context surrounding it has changed substantially.

Across both crypto and traditional markets, history shows a recurring pattern. When prices compress while fundamentals continue to improve, conviction builds beneath the surface and the product layer strengthens. Once risk reprices, assets that compounded through the reset typically lead the next leg.

For now, liquidity remains present but selective, waiting for clearer catalysts. In the coming week, attention will turn to the release of the FOMC minutes and U.S. core PCE inflation. The minutes should provide greater insight into how policymakers assessed recent conditions, while the inflation data will update the near-term macro backdrop that investors must navigate.

At the same time, events such as ETHDenver will offer a real-time view of builder activity, capital formation, and ecosystem momentum at a moment when public market pricing has turned cautious. Taken together, these signals will help determine when sentiment begins to shift from defense back toward measured risk-taking across digital assets.

In summary, the current reset features a sharp price drawdown, but deeper structural engagement, resilient on-chain liquidity, and accelerating tokenization suggest this cycle’s foundations are stronger, not weaker, than those that preceded it.

ETHZilla declared its development of an Eurus Aero Token I via an announcement on X, which featured an investment opportunity linked to leasing revenues earned from aircraft engines via blockchain technology. The company also highlighted a traditional regulated real-world investment offering with a yield generated from leasing aviation equipment. This announcement demonstrated how conventional financial arrangements have been incorporated onto blockchain systems.

The official thread went into the specifics of how the mechanics worked, what the investment requirements from the investors were, and how the payment structure would look. ETHZilla was also talking about the overall trend towards tokenized real-world assets, which sees real-world infrastructure play a role in

Aircraft Engine Leasing Enters Token Markets

Eurus Aero Token I, as per ETHZilla, represents holding assets of CFM56 jet engines that are leased to a major U.S. air carrier. The company had stated that the jet engines would produce recurring lease payments and utilization fees.

The thread described aircraft engines as a traditional financial asset class utilized in world-wide aircraft financing. Leasing of the engines by the airlines instead of purchasing them has been made. This generates a predictable pattern of payments throughout the period of leasing.

ETHZilla indicated that token holders are entitled to a proportionate share of the lease cash flow. The company also made reference to a proposal on residual value, which is supposed to apply upon expiration of a lease. Put and call rights combine for a valuation floor under normal operating conditions.

The announcement indicated that access to these deals was in the past restricted due to large capital requirements. Tokenized approach reduces these minimum qualified investments.

Returns, Pricing, And Participation Rules

ETHZilla reported a target annual return of about 11% when investors hold tokens for the full lease term. The issuer said holders receive monthly payouts denominated in U.S. dollars.

The token is priced at a $100 each, with the minimum purchase size of ten tokens. Participation is still limited to accredited investors under regulatory exemptions.

The thread confirmed that the offering follows Reg D 506(c) compliance. Investors are required to undergo identity verification via the Liquidity platform before making a purchase. ETHZilla said participants have 1099 tax reporting and not partnership filings.

The token functions as an ERC-20 on an Ethereum layer-2 network. The system maps ownership on blockchain infrastructure but legal rights are defined by off-chain contracts.

Reports Outline Aviation RWA Model

In the posts that accompanied it, ETHZilla did explain why aviation assets suit tokenization. The company pointed to predictable lease revenue and global engine deployment.

One tweet mentioned, “CFM56 engines power several thousands of aircraft flying around the world. Broad adoption supports steady compensation for usage over time.

Another post said tokenization lowers entry barriers for infrastructure investment opportunities. Accredited investors can participate starting at around $1,000 rather than at institutional-level minimums.

ETHZilla described aviation real-world assets as combining blockchain tracking with conventional finance agreements. The model links on-chain ownership records to off-chain contractual payments.

Growing Real-World Asset Tokenization Activity

The launch mirrors a more active trend in tokenized real-world assets across digital markets. Projects are increasingly tying tokens to revenue produced by physical infrastructure.

ETHZilla came up with Eurus Aero Token I as part of this development. The firm has put great emphasis on long-term leasing contracts and payment schedules that can be measured.

This announcement did not indicate the availability of secondary trading. The company’s focus was on regulated distribution and income allocation.

Eurus Aero Token I is now a blockchain-tracked financial security collateralized by aircraft lease revenue, showing the further linkage of traditional financing with digital asset infrastructure.

Speaking at a major industry event in New York, Cathie Wood argued that a fast-approaching wave of technology-driven deflation will make a bitcoin hedge more important for investors and institutions.

Cathie Wood warns of deflationary chaos from exponential tech

At Bitcoin Investor Week in New York, Cathie Wood, CEO of ARK Invest, said that artificial intelligence and other exponential technologies will unleash a powerful productivity shock. According to Wood, this shift will drive prices lower across the economy and destabilize legacy financial structures that are built on steady inflation assumptions.

In a discussion with Anthony Pompliano, she described a looming period of “deflationary chaos”, fueled by rapid adoption of AI, robotics and other innovation platforms. However, she stressed that this is not the deflation of collapsing demand, but of breakthrough technologies slashing costs and boosting output.

“If these technologies are so deflationary, it is going to be tough for the traditional world, which is used to 2% to 3% inflation, to adjust,” Wood said. Moreover, she argued that incumbent players will be forced to embrace these tools much faster than they currently expect in order to survive.

AI cost collapse and the misreading by the Federal Reserve

Wood pointed to internal research showing that AI training costs are falling by roughly 75% per year, while inference costs, meaning the cost of generating individual AI outputs, are dropping by as much as 98% annually. As a result, companies can become dramatically more productive with fewer inputs, which tends to push overall prices down.

That said, she believes the Federal Reserve is misinterpreting this innovation-led deflation because it relies too heavily on backward-looking data. In her view, policymakers risk reacting to old signals while the underlying structure of the economy is being transformed by exponential technologies.

“They could miss this and be forced into a response when there is more carnage out there,” Wood warned, suggesting that central banks might tighten or ease policy at the wrong moments. This misalignment could amplify stress in traditional financial markets that are still priced for modest positive inflation.

Bitcoin as hedge in an innovation-driven deflation regime

Within this framework, Wood argued that bitcoin becomes attractive as a portfolio tool in both inflationary and deflationary environments. She reiterated her long-standing thesis that the asset can function as protection not just against currency debasement, but also against instability created by disruptive technological change.

“Bitcoin is a hedge against inflation and deflation,” she said. Moreover, she linked recent underperformance in software-as-a-service stocks and growing counterparty risks in areas like private equity and private credit to the early stages of this disruption cycle, where legacy models are already feeling pressure.

According to Wood, the coming period of innovation-led deflation will expose fragilities in debt-heavy balance sheets and complex financial intermediation chains. In that context, investors seeking resilience may increasingly look to a trustless, non-sovereign asset that does not depend on central counterparties.

A trustless alternative to legacy finance

Wood emphasized that bitcoin’s decentralized design and fixed supply distinguish it from the traditional financial system, which is often reliant on leverage, central clearinghouses and opaque credit exposures. In her view, as margins compress in a deflationary environment, these legacy structures could come under renewed strain.

“The chaotic part of this is disruption all over the place,” she said, referencing both public market sectors and private credit markets where counterparty risks may be rising. However, she added that bitcoin does not share those same vulnerabilities, since it settles on-chain without requiring trust in a single institution.

Wood also highlighted the simplicity of bitcoin’s core protocol compared with the layering seen in modern finance. As deflation undermines debt-based growth models, she believes that a transparent, rules-based monetary network may look more compelling to asset allocators around the world.

From the dot-com bubble to real exponential technologies

Placing the current moment in historical context, Wood argued that the environment today is the “opposite of the tech and telecom bubble” of the late 1990s and early 2000s. Back then, she said, investors poured capital into unproven technologies that were not ready for large-scale deployment.

Now, by contrast, she contends that core technologies such as AI, robotics, and blockchain are mature enough to drive real-world productivity gains across industries. That said, markets have yet to fully appreciate how profoundly these platforms will reshape cost structures, business models and macroeconomic dynamics.

Wood suggested that investors who underestimate this transition may be mispricing both risk and opportunity. In particular, she believes that innovation-focused assets could benefit as the investment narrative shifts away from pure inflation fears toward an emphasis on productivity-driven deflation.

ARK’s long-term crypto and innovation positioning

Wood noted that ARK’s portfolios have been constructed for years around the convergence of disruptive technologies, including public blockchains. The firm is among the largest institutional holders of Coinbase and Robinhood, alongside a range of other crypto and fintech names that are exposed to digital assets adoption.

While market volatility has remained elevated through 2024, she maintained that bitcoin and broader innovation themes are positioned to gain as the macro narrative evolves. However, she acknowledged that the transition period could be turbulent, with both traditional financials and some technology companies facing significant valuation resets.

Wood insisted that her thesis is anchored in data on cost declines, network effects and adoption curves across multiple innovation platforms. For investors, she argued, the key is to recognize how these forces intersect with monetary policy, debt dynamics and structural deflation trends.

Deflation, disruption and the role of bitcoin

Looking ahead, Wood said that exponential technologies are likely to keep accelerating, deepening the deflationary impulse they inject into the global economy. In that environment, she believes that a clearly defined bitcoin hedge within diversified portfolios could help manage shocks stemming from both inflation surprises and rapid price compression.

Moreover, she framed bitcoin’s fixed supply and open architecture as counters to the fragility she sees in debt-based financial systems that are vulnerable to productivity shocks. As central banks and institutions adapt to this new regime, she expects renewed debates around the role of non-sovereign digital assets in global portfolios.

“Truth will win out,” Wood concluded, expressing confidence that data on cost declines, productivity and network adoption will ultimately validate her firm’s positioning. In her view, investors who align with the right side of technological change will be better prepared for the deflationary chaos she expects AI and innovation to unleash.

In summary, Wood’s message in New York linked AI-driven deflation, fragile traditional finance and bitcoin’s trustless design into a single macro thesis, arguing that the digital asset stands to benefit as innovation reshapes both prices and portfolios.

In a move that signals growing institutional demand for crypto, BitGo 21shares have expanded their global collaboration across ETF, staking, and custody services.

BitGo and 21shares deepen global ETF and ETP collaboration

BitGo Holdings, Inc. (NYSE: BTGO) and 21shares, one of the world's largest issuers of crypto exchange traded products, announced an expanded partnership spanning the United States and EMEA. Building on their existing relationship, the firms will scale cooperation across staking and custody to support 21shares' fast-growing suite of ETP products for investors in the US and Europe.

Moreover, the two companies aim to create a more robust institutional-grade framework for digital asset exposure through enhanced infrastructure and risk management. The expansion covers both ETF offerings in the US and a broad lineup of ETPs listed across European venues, reflecting rising demand for regulated access to crypto markets.

21shares assets under management and product strategy

21shares has emerged as a leading issuer of digital asset investment products, with a global footprint and an AUM of $5.7bn as of February 10, 2026. The company's disciplined approach to product design and its commitment to institutional-grade operations underpin its expansion across ETF and ETP markets.

However, it is the firm's broad platform, spanning both spot and thematic crypto products, that positions 21shares as a strategic partner for BitGo. As demand for regulated crypto exposure continues to grow in key jurisdictions, the issuer's expanding ETF and ETP lineup is expected to play a central role in channeling institutional capital into digital assets.

BitGo infrastructure, staking, and custody capabilities

BitGo provides the core infrastructure that supports 21shares' expanding platform, combining security, execution, and staking services under a regulated framework. Through BitGo's technology stack, 21shares gains access to deep liquidity, improved execution across electronic and OTC markets, and competitive staking rewards that help optimize digital asset operations.

All services are delivered within BitGo's regulated and insured qualified custody structure, which offers institutional-grade protection that many digital asset infrastructure providers cannot match. That said, the collaboration is not limited to safekeeping, as integrated staking and trading tools allow 21shares to manage complex ETP structures with greater efficiency.

Executive commentary on the expanded partnership

Adam Sporn, Head of Prime Brokerage and Institutional Sales at BitGo, highlighted the importance of the relationship, saying that 21shares is one of the leading digital asset managers globally and that BitGo has valued the partnership from the outset. He emphasized BitGo's excitement to extend cooperation across the growing US ETF range and global ETPs in staking and custody.

Moreover, Sporn noted that as 21shares continues to scale its business worldwide, BitGo expects to support future initiatives with a shared long-term vision. This alignment around growth and institutional standards is central to the rollout of new regulated crypto custody solutions for professional clients.

Andres Valencia, Head of Investment Management at 21shares, stressed that the company prides itself on operating a custody framework tailored to institutional digital asset operations and risk management across its global ETP lineup. He said BitGo was chosen for its strong record in regulatory compliance, safety, and security.

That said, Valencia also underlined that the expanded engagement across staking and custody services with this trusted partner enables 21shares to scale while maintaining stringent security and governance standards. BitGo's infrastructure is therefore seen as a backbone for the issuer's long-term growth.

Regulatory milestones underpinning BitGo's institutional offering

This partnership expansion follows a period of strong momentum at BitGo. The company recently received approval from the Office of the Comptroller of the Currency (OCC) to convert its subsidiary, BitGo Bank & Trust, into a federally chartered trust bank for digital assets. In addition, BitGo completed an IPO on the New York Stock Exchange, listed under the ticker BTGO.

These regulatory and capital markets milestones strengthen BitGo's ability to serve institutional partners with robust governance, regulatory alignment, and operational resilience. Moreover, they reinforce its positioning in institutional crypto custody as investor scrutiny of service providers continues to rise.

The firm also holds a Markets in Crypto-Assets Regulation (MiCAR) license from Germany's Federal Financial Supervisory Authority (BaFin), allowing it to deliver regulated services across the European Union. However, BitGo is careful to clarify that these approvals and licenses apply to its entities and services only and do not represent any endorsement or approval of specific ETFs, ETPs, or investment products.

Global outlook: institutional adoption and market expansion

Both firms highlighted a shared commitment to partnership-led growth, with ongoing collaboration across operations, product development, and global market support. As institutional adoption of digital asset markets accelerates, their joint efforts are expected to focus on scaling 21shares etp products while enhancing the underlying infrastructure.

Furthermore, the expanded alliance across the US and EMEA supports broader us emea market expansion for crypto-linked securities. In this context, the bitgo 21shares collaboration is positioned to capture growing demand for secure, regulated access to staking, custody, and trading solutions.

In summary, the deeper partnership across staking, custody, and regulatory-backed infrastructure strengthens both BitGo and 21shares as key players in the institutional digital asset ecosystem, while offering investors more robust options for accessing crypto exposure through ETFs and ETPs.

In this Crypto News update, Thailand is preparing to add digital assets to its regulated local derivatives market. An account on X tweeted the development by saying that Thailand’s Securities and Exchange Commission is going to expand derivatives rules. Under the same regulatory ambit, carbon credits have also been mentioned. Global alignment and protection for investors are the reasons authorities have cited behind this change, although key details about the rollout remain secret.

Crypto News Report Cites SEC Expansion of Derivatives Rules

This report states that Thailand’s SEC will extend derivatives regulations to digital assets. Coin Bureau has posted the information publicly, noting that the planned changes come after approval to align Thailand’s market with international standards. The tweet also underlines ongoing oversight and investor protection as core parts of the plan.

Thailand already licenses crypto exchanges and oversees the digital asset trading activity. However, the derivatives that are linked to crypto have remained limited against the supply-side spot trading. The new framework would bring crypto-based derivatives under a defined regulatory structure, in a similar way to rules governing traditional derivatives products.

Regulators might also impose existing compliance expectations on new crypto-linked products. That could include licensing, reporting, and operational requirements for intermediaries. Market participants now wait for detailed guidance on what instruments will qualify and how trading will operate.

Reports Signals A Push Toward Global Standards

In a way, the recent news on Crypto is a manifestation of a larger trend, which the financial market industry is witnessing. The SEC’s role in Thailand is striving to ensure that the crypto market is aligned with international market standards and not develop parallel systems to facilitate the crypto market.

Countries seem wary of derivatives due to risks associated with the use of leverage. The focus for Thailand is on regulated inclusion, with the process remaining under the jurisdiction of the SEC. The tweet seemed to relate the policy direction with the protection of investors and close supervision.

An organized regulated derivative market can facilitate price discovery as well as risk management. Firms tend to participate in the market for hedging purposes. Inclusion of crypto in such markets can provide incentives for firms that favor regulated formal systems.

News Adds Carbon Credits Into the Same Framework

Besides this, the most recent update also points out that the Thai government is looking to integrate carbon credits into the rules for derivatives. The Thai government included the carbon credits along with the cryptocurrencies as part of the broad definition of the types of derivatives they will allow. This means environmental trading and cryptocurrencies will fall under a single system of regulation.

Carbon credit is considered a market-based instrument associated with emissions targets/compliance systems. The market-based classification of carbon credits as derivative products is expected to increase standardization, reporting, and trading options through such platforms. The integration of carbon credits and crypto is considered a larger attempt to modernize categories of tradable assets.

By being governed by the SEC, Thailand may also eliminate the fragmentation that normally exists across emerging markets. Market entrants, such as traders and financial institutions, require clarity across emerging markets on compliance, settlement, and contract issues before investing.

Crypto News Outlook for Market Participation and Next Steps

This is a development, which could further enhance access to structured crypto products in Thailand. This is because a well-regulated market for derivatives could be able to offer volatility management solutions, going beyond spot markets alone.

Thai regulatory authority, Thai SEC, has not announced any information on leverage ratio, types of contracts, or any roll-out schedule. Either of these aspects may play an important role in how stock exchanges and brokerage firms will be ready to roll out with.

For now, the focus of this report is on regulation approval and policy direction. However, implementation guidelines, licensing processes, and the listing of products under the new rules on derivatives will inform the next phase.

In the ever-evolving landscape of trading platforms, Bitget takes a decisive step towards innovation by introducing Gracy AI, an animated digital avatar designed to offer users a unique conversational interface.

This innovation goes beyond providing short-term data or signals, opening up an authentic dialogue space on market strategies, leadership, and long-term thinking.

Gracy AI: Beyond Numbers, Towards Understanding

Unlike traditional solutions based on artificial intelligence, often focused on data analysis and price prediction, Gracy AI stands out for its ability to interpret and contextualize.

The avatar is built around the experience and decision-making approach of Gracy Chen, CEO of Bitget, and offers users the opportunity to explore topics such as market cycles, uncertainty management, and personal growth in the financial sector.

A Human Interface for More Informed Decisions

The true innovation of Gracy AI lies in its conversational nature. Users can ask questions not only about market trends but also on how to navigate periods of volatility, how to develop a growth-oriented mindset, and how to make strategic decisions when background noise threatens to obscure the big picture.

The goal is not to provide forecasts, but to help traders think more clearly and systematically.

Gracy Chen’s Vision: Listening and Supporting Users

Gracy Chen, CEO of Bitget, commented with a touch of irony on the presence of her digital avatar: “Honestly, I still find it a bit amusing to see an AI avatar of myself on the screen.

But a fundamental part of my job is to listen to users’ concerns, delve into the details, and help them understand what is really happening in the market. The team built Gracy AI precisely on this approach, so that more users can connect, learn, and grow feeling supported by me and the team.”

An Extension of Bitget’s AI Strategy

The introduction of Gracy AI represents a key component in Bitget’s broader roadmap dedicated to artificial intelligence, within the UEX transformation.

Following the launch of GetAgent, which strengthened Bitget’s analytical and decision-support capabilities, Gracy AI emerges as the human face of this strategy: technology not only as an execution tool but as a support for understanding and growth.

From Analysis to Empathy: The New Course of AI for Traders

In recent years, Bitget has decisively focused on integrating artificial intelligence to make trading more accessible and effective. From AI-powered market insights to smart trading tools, and products like GetAgent, the platform has progressively lowered barriers and improved the quality of users’ decisions.

With Gracy AI, this evolution takes another leap forward, offering a dimension of experience, perspective, and real-time intelligence in a conversational and immediate form.

Tangible Support for User Growth

Gracy AI positions itself as an ally for those who wish to go beyond mere order execution, offering insights on how to tackle market challenges, develop a strategic vision, and make well-considered decisions even in times of heightened uncertainty.

In a sector where technology is often synonymous with automation, Bitget demonstrates that the true added value lies in the ability to foster better and more conscious thinking.

Bitget and the Transformation into a Universal Exchange

The launch of Gracy AI is part of Bitget’s broader transformation towards the Universal Exchange, a platform aimed at providing increasingly advanced and useful tools for traders of all levels. The underlying idea is simple yet revolutionary: better tools are important, but better thinking is fundamental. Gracy AI embodies this philosophy, placing the user and their personal and professional growth at the forefront.

Conclusions: A New Era for Market Dialogue

With the arrival of Gracy AI, Bitget redefines the role of artificial intelligence in the trading world, shifting the focus from pure data analysis to a deep understanding of decision-making processes. In a context where market complexity demands not only information but also interpretation and guidance, Bitget’s conversational avatar aims to become a benchmark for those seeking not only answers but also new questions to explore.

Gracy AI does not promise infallible predictions or miraculous solutions, but it offers what is often missing in the trading world: a direct engagement with a leader’s mindset, a space for reflection and growth, and tangible support to tackle the challenges of a constantly evolving sector. Ultimately, Bitget demonstrates that technological innovation can and should serve human intelligence, paving the way for a new era of dialogue and awareness in financial markets.

Thailand is accelerating reforms in its financial sector, with new rules allowing thailand crypto activity to move deeper into the regulated derivatives market.

Government approves digital assets as collateral in derivatives market

The Thai government has formally approved the use of digital assets as underlying assets in the country's derivatives and capital markets. This policy, announced in 2024, aims to modernize Thailand's financial infrastructure and align it with global standards for crypto regulation.

Moreover, officials frame the move as a way to strengthen regulatory oversight and investor protection, rather than simply encouraging speculative activity. The new framework recognizes that cryptocurrencies and tokenized instruments can serve as collateral and reference assets in more complex financial products.

SEC to amend Derivatives Act and expand eligible assets

The Securities and Exchange Commission of Thailand will amend the existing Derivatives Act to implement the decision. Under the revised rules, the scope of eligible underlying assets will expand to include cryptocurrencies such as Bitcoin (BTC) and carbon credits, alongside traditional financial instruments.

However, the change is more than a technical update. It signals a broader shift in how Thai regulators view digital assets: no longer only as speculative instruments, but as tools that can help transform capital markets, diversify portfolios, and improve risk management.

Thailand's strategy to become a regional crypto hub

The integration of digital assets into the Thai derivatives market forms part of a wider strategy to position the country as a regional hub for institutional crypto trading. The Thai SEC plans to update multiple regulations and introduce Bitcoin futures and other crypto-related exchange-traded products in 2026.

Moreover, the authorities want to attract more institutional investors, while expanding the menu of regulated investment options for both local and international traders. That said, officials also stress the importance of robust risk controls so that market growth does not come at the expense of financial stability.

Within this context, the phrase thailand crypto is increasingly associated with regulated markets and structured products, rather than unregulated speculation on offshore platforms.

Industry reaction and Binance Thailand's perspective

Industry players have welcomed the reform. Binance Thailand CEO Nirun Fuwattananukul described the government decision as a "watershed moment" for the domestic financial market. He argued that the policy underlines Thailand's ambition to become one of Southeast Asia's leaders in the digital economy.

Furthermore, Fuwattananukul said the new approach sends a clear signal that Thailand now views digital assets as a legitimate investment asset class. That message is expected to encourage both Thai investors and overseas institutions to engage more actively with licensed crypto exchange Thailand platforms and regulated derivatives venues.

Role of the Thai SEC and the Thailand Futures Exchange

The Thai SEC will take the lead in drafting and enforcing the new regulatory framework needed to support digital assets in the financial system. Its work includes setting detailed rules for market conduct and expanding licensing categories for digital asset operators that want to offer derivatives or structured products.

Additionally, the regulator plans to work closely with the Thailand Futures Exchange (TFEX) to finalize contract specifications for upcoming crypto-based financial products. These specifications will cover margin requirements, settlement procedures, and risk management measures tailored to the volatility of crypto markets.

Focus on diversification, inclusiveness and risk management

The SEC's amendments to the Derivatives Act are explicitly designed to promote inclusiveness, portfolio diversification, and improved risk controls. By expanding the list of permitted underlying assets, the government wants to create more opportunities for institutional investors and qualified retail traders.

Moreover, the authorities intend to introduce new financial products, including futures and exchange-traded instruments linked to Bitcoin and other digital assets. These products are expected to sit alongside existing equities, bonds, and commodity contracts, giving investors more tools to hedge risk or gain targeted exposure.

Recognition of crypto as a legitimate asset class

As part of these reforms, the Thai SEC will update its supervisory frameworks to acknowledge crypto as a legitimate asset class within regulated markets. This recognition marks an important shift for Thailand, where digital assets were often treated as peripheral or speculative in previous years.

However, it does not imply an unrestricted environment. The central bank still maintains a ban on using cryptocurrencies for day-to-day payments, underscoring that their primary role is investment and capital markets activity, not legal tender or a general medium of exchange.

Broader push to integrate blockchain into mainstream finance

This policy move forms part of Thailand's broader effort to integrate cryptocurrency and blockchain technology into mainstream financial markets. Officials see tokenization, on-chain settlement, and regulated crypto derivatives market products as tools to enhance market efficiency and transparency.

That said, Thai regulators emphasize that innovation must be accompanied by strong governance, adequate disclosures, and clear investor protection rules. By combining these elements, Thailand aims to build a more competitive financial center while retaining control over systemic risks.

In summary, Thailand's decision to recognize digital assets as eligible underlying assets for derivatives, and to move toward Bitcoin-linked products by 2026, marks a major regulatory turning point for the thailand crypto landscape and its evolving capital markets.