The Cryptonomist

Russia has moved to criminalize dealings with the whitebit exchange, underscoring how digital assets have become entangled in the financial front of the war in Ukraine.

Russia declares WhiteBIT an undesirable organization

Russia has formally banned Ukrainian-founded cryptocurrency platform WhiteBIT, marking a further escalation in its crackdown on firms it claims are backing Ukraine‘s war effort. The decision, announced by the office of Russia’s prosecutor general, designates WhiteBIT and its parent company W Group as “undesirable organizations.”

Under Russian law, the “undesirable” label effectively makes any cooperation with the company a criminal offense within the country. Moreover, Russian citizens who use the platform, promote it, or provide services to it now risk prosecution and potential prison sentences under the criminal code.

Accusations of gray schemes and military support

According to Russian authorities, the exchange has allegedly built what they call “gray schemes” to move capital out of Russia. Officials also accuse WhiteBIT of providing financial and technical infrastructure to support the Ukrainian military since the beginning of the full-scale invasion in February 2022.

Prosecutors claim that at least $11 million was directed to Ukraine’s armed forces, including nearly $1 million earmarked for drone procurement. However, the company has framed these activities as transparent support for national defense and humanitarian needs rather than covert schemes.

WhiteBIT’s response and exit from the Russian market

WhiteBIT, founded in 2018 by Ukrainian entrepreneur Volodymyr Nosov, told CoinDesk that the Russian move only strengthens its resolve to back Ukraine’s war effort. The company emphasized that it had already halted operations in the Russian market shortly after the invasion began.

The exchange said it blocked all users from Russia and Belarus in early 2022 and delisted trading pairs denominated in the ruble. That decision, by its own account, cost around 30% of its customer base at the time. However, executives argue that the move was consistent with its values and long-term strategy.

Ukrainian authorities push for broader crypto restrictions

One year into the war, Ukraine’s Ministry of Digital Transformation launched a coordinated effort to limit Russian access to major trading venues. In that campaign, the ministry sent official requests to platforms including Coinbase, Binance, Bybit and WhiteBIT, urging them to block Russian users.

At the time, some large U.S. and global exchanges, such as Coinbase and Kraken, signaled they would not implement a blanket ban on Russian-linked accounts without clear legal mandates. Instead, they pledged to restrict activity involving individuals and entities explicitly named on sanctions lists. That said, pressure from Kyiv and Western regulators has kept the issue on the agenda.

Growth, user expansion and the U.S. market

Despite the loss of a significant portion of its early user base, WhiteBIT says it has expanded rapidly since leaving the Russian market. The company reports that its customer numbers have grown eightfold, now exceeding 8 million users globally.

Moreover, the platform has entered the U.S. market, signaling ambitions to compete with established global players. This growth trajectory, combined with its explicit support for Ukraine, has kept the whitebit exchange firmly in Moscow’s crosshairs.

Crypto donations and Whitepay’s role

Russian prosecutors highlight that WhiteBIT has actively supported Ukraine’s military and humanitarian response using digital assets. The exchange confirms that it has donated approximately $11 million of its own funds to defense initiatives and civilian relief during what it describes as “four years of full-scale war.”

The company’s payments subsidiary, Whitepay, has also become a key channel for digital fundraising. According to figures cited by Russian authorities and confirmed by WhiteBIT, Whitepay has processed over $160 million in cryptocurrency donations to support both defense and humanitarian projects. These flows underscore how crypto rails can bypass traditional banking routes in conflict zones.

Legal risks for Russian users

With the new designation in place, any Russian citizen who interacts with WhiteBIT now faces tangible legal risk. The “undesirable organizations” framework allows law enforcement to pursue criminal charges for a wide range of activities, from using the platform to providing any form of assistance.

In its statement, the company insisted that its actions “reflect the company’s values and civic position as a business with roots in Ukraine operating during wartime.” However, Russia’s move also signals to other crypto platforms that perceived support for Ukraine can trigger severe responses, deepening the geopolitical fault lines running through the digital asset sector.

In summary, Moscow’s ban on WhiteBIT and W Group formalizes a sharp break that began when the exchange exited Russia in 2022, while highlighting how cryptocurrency platforms, donations and compliance choices are increasingly shaped by the realities of war.

A new staking product built on Ethereum aims to combine infrastructure credibility, client diversity, and the benefits of the Lido v3 obol integration for risk-conscious users.

Obol Ethereum Client Team Vault on Lido V3

Obol is rolling out the Ethereum Client Team Vault, a multi-operator, DVT-powered stVault built on Lido V3. It is operated by four of Ethereum’s most established infrastructure teams: Sigma Prime, ChainSafe, Develp, and Nethermind, each maintaining critical client software that secures the network.

The vault targets ETH-aligned stakers, DAO treasuries, and institutional capital allocators that want to stake with clear, transparent alignment to Ethereum infrastructure. Moreover, it is structured for users who prioritize security, decentralization, and predictable risk over aggressive yield strategies.

According to Obol, the Ethereum Client Team Vault is designed to be secure and trusted, since it is operated by Ethereum client teams using Obol Distributed Validators. However, it is also explicitly Ethereum-aligned, supporting client diversity and decentralization as core principles of the product.

The vault uses a vanilla stVault configuration with no leverage, looping, or exotic DeFi strategies. That said, this conservative structure aims to offer a low-risk route into pooled staking while still leveraging advanced distributed validator technology.

Solving pooled staking limitations

The Ethereum Client Team Vault addresses key shortcomings in existing pooled staking architectures. Historically, users had no practical way to express preferences for client diversity or for multi-operator security models when delegating stake through large pools.

Moreover, there was no standardized mechanism to create curated, operator-specific vaults where rewards and responsibilities are bound to a clearly defined group of operators. This meant users could not easily direct capital to particular infrastructure teams they wanted to support.

Obol’s product tackles these gaps with a curated, multi-operator DVT stVault designed to be credibly decentralized from day one. The participating operators are the same infrastructure teams that build and maintain Ethereum’s core client software: Sigma Prime, ChainSafe, Develp, and Nethermind.

By staking through the Ethereum Client Team Vault, users can visibly signal support for these organizations while benefiting from their operational track records. That said, they also gain exposure to the teams’ deep expertise and alignment with Ethereum’s long-term roadmap.

Why Obol built on Lido V3 stVaults

Building on Lido V3 stVaults gives Obol immediate access to one of the most recognized brands in Ethereum staking and to battle-tested onchain infrastructure. Lido’s established smart contract framework reduces technical overhead for Obol and accelerates time-to-market.

By leveraging Lido’s existing deposit flows and audited contracts, Obol avoids the need to design complex new deposit systems, write additional smart contracts, or deploy standalone frontends. Instead, the team can concentrate fully on distributed validator technology and validator performance.

This setup allows both organizations to focus on their core competencies. Lido supplies trusted staking infrastructure and tooling, while Obol and the participating client teams manage what happens beneath the surface, including uptime, performance optimization, and a decentralized, client-diverse DV cluster.

In practice, the lido v3 obol collaboration provides the Ethereum community with a concrete way to demonstrate that they value client diversity, decentralization, and the structural benefits of Distributed Validator Technology (DVT) when choosing where to stake.

Integration design and security model

At the technical level, Obol runs multi-operator Distributed Validator (DV) clusters for the Ethereum Client Team Vault. Validator keys are generated using a Distributed Key Generation (DKG) ceremony, then split into key shares which are distributed across multiple independent node operators.

Because key shares are spread across different operators, no single participant can act unilaterally with validator keys. Moreover, this architecture mitigates single points of failure and reduces the risk of operator-level compromise affecting the entire validator set.

Each node operator in the vault runs a diverse infrastructure stack, with unique combinations of execution layer and consensus layer clients. This is intended to minimize correlated failures, cut downtime risk, and push the network toward stronger client heterogeneity.

The Ethereum Client Team Vault launches with a vanilla, conservative configuration focused on resilience. There is no leverage, no looping, and no complex DeFi overlay. However, the trade-off is deliberate: brand integrity and risk management are prioritized ahead of short-term APR maximization.

Validator performance and operator quality sit at the center of this product’s design. For stakers who believe infrastructure robustness and client diversity matter more than chasing the highest available yield, Obol positions this vault as a leading option within the Lido ecosystem.

Market impact and expected outcomes

The Ethereum Client Team Vault gives users a direct way to support some of Ethereum’s most trusted infrastructure builders. Moreover, it operationalizes a framework where staking capital can actively promote client diversity and decentralization rather than treating them as abstract goals.

By consciously favoring operator credibility and security over raw yield, the vault aims to set a new benchmark for trust and infrastructure quality in the Lido V3 environment. That said, it remains accessible to ETH-aligned treasuries and allocators that prefer conservative exposure.

Over time, this approach could encourage more curated, operator-specific vaults and deepen the link between staking flows and the sustainability of critical Ethereum client teams. The Ethereum Client Team Vault demonstrates how structured DVT-based staking can align incentives between users, infrastructure providers, and the broader protocol.

Resources and documentation

Obol and Lido support the initiative with extensive documentation, including the Lido V3 Testnet, the Lido V3 Whitepaper (RFC), V3 user and integration guides, and detailed technical design documentation. However, users are encouraged to review these materials to understand the product’s risk profile and operational model before staking.

In summary, the Ethereum Client Team Vault on Lido V3 offers a conservative, infrastructure-first staking route that channels rewards to key Ethereum client teams while reinforcing decentralization, security, and client diversity at the protocol’s core.

Investors are reassessing risk after a new filing detailed the scale of the Microstrategy stock exposure to Bitcoin and its latest share sale program.

Microstrategy stock slides as Bitcoin erases 2025 gains

The MicroStrategy stock price has extended its sharp decline, with MSTR dropping to $160, far below its all-time high of $542 and its 2025 peak of $455. This sustained sell-off has already wiped out billions of dollars in market value. Moreover, analysts warn that the downtrend could persist in the near term if crypto markets remain under pressure.

The latest slide comes as Bitcoin has given up its year-to-date gains. On Monday, the leading cryptocurrency fell to $87,000, reversing the rally seen earlier in the week. However, the weakness in digital assets has amplified concerns around Strategy’s leveraged exposure to Bitcoin and the sensitivity of its equity value to further downside.

New Bitcoin purchases and growing concentration risk

In a new statement, Strategy disclosed that it bought 2,932 Bitcoin last week for a total of $254 million. The company said it paid an average price of $90,000 per coin, adding to an already massive balance sheet position. Moreover, the latest acquisition underscores management’s continued conviction in Bitcoin despite rising volatility.

After this purchase, Strategy now holds 712,647 Bitcoins, which the company values at more than $62 billion at current prices. That stash represents over 3.3% of Bitcoin’s total supply, highlighting an unprecedented concentration of corporate ownership. However, this scale of exposure also amplifies bitcoin accumulation risks if the market enters a deeper corrective phase.

mNAV policy shift and shareholder dilution

The aggressive Bitcoin buying is happening while the firm’s market net asset value, or mNAV, has dropped below 1. In previous cycles, Strategy had indicated it would avoid selling new shares when mNAV traded below 12. That said, the current strategy appears to depart from that earlier guidance, raising questions about capital allocation discipline.

At the same time, the company has been issuing ordinary shares to finance its cryptocurrency purchases. This approach is significantly diluting existing investors, as the outstanding share count has surged from below 80 million in 2021 to about 300 million today. Moreover, these Microstrategy dilution concerns are now a central theme in equity research commentary on the name.

Bitcoin weakness compounds downside risk for MSTR

The current Microstrategy stock trajectory remains closely tied to movements in the Bitcoin market. With the coin falling to $87,000 on Monday, analysts note that all the gains made earlier in the week have been erased.

Moreover, exchange-traded fund Bitcoin products have seen rising outflows, signaling waning institutional demand and deteriorating sentiment.

Technical analysts point out that Bitcoin has formed a bearish flag pattern, characterized by a steep initial drop followed by a consolidation channel that often precedes another leg lower. However, if that pattern plays out fully, it could trigger a broader Bitcoin price crash, further pressuring risk assets with high crypto exposure such as Strategy.

A sharp move lower in Bitcoin would likely translate into deeper equity losses for Strategy, given its large direct holdings and correlated revenue narrative. The company already flagged a substantial hit to its financials, recently disclosing a $17 billion loss in the fourth quarter. Moreover, any extended downturn in digital asset prices could force additional impairments and weigh on investor confidence.

MSTR stock price technical analysis points to $100

The daily chart shows the Strategy share price locked in a strong bearish trend over recent months. The stock has broken below a key support zone at $228, which marked its lowest level on March 10 last year. Moreover, that breakdown has confirmed a shift in market structure from consolidation to a more aggressive downtrend.

On the same timeframe, MSTR continues to trade below all major moving averages, reinforcing the negative momentum bias. The price action has also carved out a bearish flag pattern, mirroring the structure visible on Bitcoin’s chart. However, technical strategists warn that this configuration typically resolves with another leg lower after a period of short-term consolidation.

Based on this setup, sellers are now targeting the psychological $100 area as a key downside objective. A drop to that level would represent a further decline of roughly 40% from the current share price. Moreover, such a move would intensify scrutiny of Strategy’s balance sheet leverage and long-term sustainability of its Bitcoin-centric capital allocation approach.

In summary, Strategy’s expanding Bitcoin position, ongoing share dilution and deteriorating technical picture leave MSTR vulnerable to further volatility, especially if crypto markets stage another sharp leg lower.

Crypto derivatives traders will soon gain fresh exposure to Tesla shares through the new TSLA perpetual futures product on Binance.

Binance introduces Tesla-linked equity perpetual contract

Binance, one of the world’s largest crypto exchanges, will roll out a new equity-based perpetual futures contract tied to Tesla Inc (NASDAQ:TSLA), further expanding its derivatives linked to traditional markets.

According to a Binance exchange notice published on Monday, trading for the TSLAUSDT equity perpetual contract is scheduled to start on January 28 at 14:30 UTC. Moreover, the product will list on Binance Futures with leverage of up to five times, targeting traders seeking stock-style exposure via crypto markets.

The new contract is structured as an equity based perpetual, tracking the price performance of Tesla common stock listed on the Nasdaq, but it does not confer ownership of the underlying shares. That said, it offers a way to speculate on Tesla’s price movements using crypto-native infrastructure.

Contract specifications and settlement details

The TSLA product will be margined and settled in USDT (Tether), so all profits and losses are denominated in the stablecoin rather than in Tesla equity. However, the contract itself is designed to mirror the stock’s market price as closely as possible within a derivatives framework.

Binance confirmed that the contract will trade 24 hours a day, seven days a week, unlike traditional equity markets that operate during restricted sessions. The minimum trade size is set at 0.01 TSLA, with a minimum notional value of 5 USDT, parameters meant to keep barriers to entry relatively low for retail participants.

The tick size for the TSLA contract is fixed at 0.01, allowing for granular pricing. Moreover, Binance has specified that funding rates will be capped at plus or minus 2%, with funding fees settled every four hours, a structure intended to manage risk and maintain alignment between futures and spot prices.

Implications for crypto and traditional markets

The introduction of tsla perpetual futures underscores Binance’s push to blur boundaries between cryptocurrency derivatives and traditional equity exposure. However, traders should remember that these contracts remain synthetic instruments, with no direct claim on Tesla shares despite their tight linkage to Nasdaq-listed stock prices.

By offering a Tesla-linked contract with up to five times leverage and a clear funding rate framework, Binance aims to attract both retail and professional users who want around-the-clock access to equity-style markets. In summary, the TSLA launch, dated for January 28 2026, reinforces the ongoing convergence between digital asset platforms and legacy financial instruments.

Users in North America and Europe will soon gain streamlined access to Kraken Defi Earn through a new yield-focused product from the major crypto trading platform.

Kraken expands DeFi access with a new product to earn cryptocurrencies

Crypto exchange Kraken has introduced a new DeFi Earn product in Canada, the European Economic Area and most U.S. states, aiming to make onchain yields more accessible to its clients. The launch targets users who want exposure to decentralized finance without leaving the familiar environment of a centralized exchange.

The service will offer onchain earning opportunities with advertised annual percentage yields of up to 8%, according to an announcement shared today.

Moreover, Kraken emphasized that the product is designed to deliver the perceived simplicity and security of a traditional exchange interface while routing funds into decentralized protocols behind the scenes.

“With DeFi Earn, we are moving decentralized finance from a hobbyist’s pursuit to a mainstream financial utility,” Kraken Director John Zettler said. He added that the product aims to unlock real-time, transparent rewards in a way that feels intuitive to everyday users, arguing that this kind of offering can help bring decentralized finance to the “next billion” participants.

Centralized platforms race to build DeFi bridges

The launch arrives amid a broader push by centralized operators to act as a centralized defi bridge between traditional exchange users and onchain markets. Coinbase, for example, recently integrated Base-based DEX trading into its core platform, allowing customers to access decentralized liquidity from a familiar interface.

Meanwhile, custodians such as Anchorage have partnered with Spark to provide onchain lending yield on assets held in custody. However, many of these offerings still face the challenge of translating complex DeFi risk profiles into products suited for institutional and retail users who expect clear disclosures and smooth user experiences.

Veda vault infrastructure and USDC strategies

Kraken’s DeFi Earn will rely on vault infrastructure provider Veda to power the new offering, integrating its underlying technology to manage deposits and strategy execution. In addition, risk managers Chaos Labs and Sentora will operate the first three USDC vaults, which will serve as the initial strategies available to users at launch.

According to Kraken, those vaults will allocate funds to what it describes as “well-known onchain protocols” including Aave, Morpho, Sky and Tydro. Moreover, the exchange said the vaults are expected to generate variable USDC vault yields derived from actual market demand, with returns ultimately paid by borrowers using these lending and liquidity platforms.

This structure is intended to give users exposure to decentralized lending markets while maintaining a centralized point of access. That said, performance will still depend on protocol-level demand for borrowing and liquidity, as well as broader market conditions that influence utilization and interest rates across these DeFi protocols.

Risk management and institutional-grade infrastructure

The involvement of specialized firms underscores the focus on risk controls. Chaos Labs CEO Omer Goldberg argued that onchain yields have historically lacked the type of infrastructure and oversight institutions require. “Onchain yield has lacked the infrastructure institutions expect,” Goldberg said, pointing to the need for more robust safeguards around market and protocol risk.

“Launching Chaos Vaults on Kraken changes that, bringing AI-powered risk intelligence to millions of users and laying the foundation for how institutional-grade yield operates at scale,” he added. Furthermore, this positioning suggests Kraken is targeting not only retail users seeking defi earning opportunities but also more sophisticated clients that demand enhanced risk analytics and monitoring.

The partners say their approach is meant to create a framework that could later extend to additional assets and strategies. However, the long-term viability of any kraken defi earn strategy will depend on the continued reliability of the underlying protocols, as well as the effectiveness of Chaos Labs’ and Sentora’s risk management models in volatile market environments.

User experience, disclosures and withdrawals

Kraken stressed that transparency around returns and risks will be central to the user interface. DeFi Earn participants will receive clear alerts about offered rates, any applicable fees and potential risks before they commit funds to a vault. Moreover, users will be able to review this information on an ongoing basis as yields and market conditions change over time.

The exchange also outlined its withdrawal process, stating that redemptions are expected to be “typically instant.” However, Kraken cautioned that temporary delays may occur if liquidity in the underlying strategies becomes constrained, a risk inherent to onchain markets where capital can move quickly in response to changing incentives.

By embedding these disclosures directly into the product experience, Kraken aims to balance ease of use with clear communication about how DeFi-based yields are generated. In doing so, the platform is positioning its new Kraken Defi product as a gateway to onchain returns that still respects the expectations of users accustomed to centralized services.

Overall, Kraken’s partnership with Veda, Chaos Labs and Sentora seeks to merge institutional-style risk management with consumer-friendly access to decentralized yield, potentially expanding the audience for DeFi-based income products across Canada, the European Economic Area and most U.S. states.

Growing frictions between UK banks and digital asset platforms are putting uk crypto banking under renewed scrutiny, as new data challenges the country’s fintech ambitions.

UK exchanges report systemic payment blocks

A new survey by the UK Cryptoasset Business Council (UKCBC) reveals that transfers between United Kingdom bank accounts and crypto exchanges are frequently blocked, delayed or refused, even when customers use regulated platforms. Moreover, the findings suggest that these obstacles are worsening rather than easing.

The report, titled “Locked Out: Debanking the UK’s Digital Asset Economy”, is based on responses from 10 of the country’s largest centralized exchanges. Collectively, these platforms serve millions of UK consumers and have processed hundreds of billions of pounds in transactions, providing a significant data sample for assessing crypto payment access.

The UKCBC says the goal is to replace anecdotal complaints with hard evidence about how current banking practices affect the sector. However, it also argues that widespread restrictions are already undermining the UK’s stated ambition to become a leading global hub for digital assets and blockchain innovation.

According to the survey, eight in 10 exchanges reported a noticeable increase over the past 12 months in customers facing blocked or limited transfers. None of the respondents saw any decrease in restrictions, reinforcing the perception that bank policies are tightening rather than relaxing.

How hard is it to move money between banks and exchanges?

Based on transactional data supplied by the exchanges, the UKCBC estimates that 40% of transactions to crypto exchanges are either blocked outright or significantly delayed by the banks in question. This figure applies to both traditional bank transfers and card payments. That said, the degree of restriction varies between providers.

One leading UK‑founded exchange reported close to 1 billion pounds (about $1.4 billion) in declined UK transactions over the past year alone. These failures were attributed to bank‑side rejections of both card payments and open‑banking transfers, highlighting the breadth of the problem across payment rails.

The pattern spans a wide range of providers. Most major high‑street banks now impose strict limits or outright blocks on transfers and card payments to exchanges. However, several challenger banks still allow such payments, though often with tight caps or 30‑day limits that constrain more active traders and institutional participants.

Blanket policies, opacity and customer backlash

The UKCBC stresses that almost all major UK banks and payment firms currently enforce blanket transaction limits or complete blocks on cryptoasset exchanges. Crucially, these do not always distinguish between Financial Conduct Authority (FCA)‑registered UK businesses and higher‑risk offshore or unregulated platforms, despite significant differences in oversight.

Qualitative feedback from exchanges highlighted inconsistent restrictions “even against FCA‑registered firms,” pointing to bank policies driven by blanket rules rather than evidence‑based risk assessment. Moreover, several respondents said that FCA registration “does not currently prevent these restrictions,” suggesting that regulatory status brings limited protection.

The report flags what it calls a near‑total lack of transparency around banks’ decisions. All, or 100%, of the surveyed exchanges said that banks provide no clear explanations for payment blocks, account restrictions or card payment declines. As a result, both firms and their customers are often left “in the dark” about why a transaction has failed.

One exchange cited in the report said that 60% of its customers expressed anger at the friction caused by bank payment blocks and limits. Another described bank‑imposed constraints and bans as “the single biggest problem” with growing or launching new crypto products in the UK, indicating that the issue is now central to business strategy.

Industry response and fraud concerns

The UKCBC acknowledges that fraud and scams are a legitimate concern for banks, particularly in fast‑moving online markets. “We acknowledge that fraud is a legitimate concern and we actively want to work towards a solution,” the group stated. However, it warned that excessive de‑risking can itself generate systemic problems.

According to the council, there is a widespread concern within the industry that banks are using a strict compliance posture as a proxy to hinder growth in the sector. That said, the report calls for data‑driven debate rather than confrontation, urging all sides to focus on measurable risks and targeted safeguards instead of sweeping bans.

Some exchanges argue that the current wave of crypto transfer delays and rejections risks pushing users toward less transparent or offshore alternatives. Moreover, they contend that this dynamic could increase consumer exposure to fraud rather than reduce it, as customers seek out workarounds beyond the supervised banking perimeter.

Debanking practices and impact on UK competitiveness

For the UKCBC, the implications extend far beyond customer inconvenience or short‑term trading disruption. The report concludes that anti‑competitive debanking crypto uk practices are “undermining domestic innovation and driving competition overseas,” as firms relocate or prioritize other jurisdictions with more predictable payment access.

Exchanges told researchers that uncertainty over crypto banking restrictions makes it harder to build long‑term products, attract investment or commit to hiring in the United Kingdom. Moreover, several warned that prolonged hostility from mainstream banks could erode the UK’s reputation as a fintech leader, especially when rival hubs advertise clearer rules for crypto banking uk relationships.

Some platforms said they are already diverting resources to build alternative payment channels or non‑UK banking partnerships. However, these workarounds can be more expensive and operationally complex, which may ultimately be passed on to users through higher fees or reduced service quality.

UKCBC recommendations to government and regulators

To address these challenges, the UKCBC has set out specific policy recommendations aimed at the UK government and the FCA. It says authorities should make clear that blanket bans by banks on servicing exchanges are unacceptable where they are not based on clearly articulated risk assessments.

The report calls on policymakers to require banks to adopt more granular, risk‑based frameworks that distinguish between different exchanges, particularly FCA‑registered entities. Moreover, it urges the removal of unnecessary frictions for fca registered exchanges, so that compliant firms can access payment services on fair and transparent terms.

While the term uk crypto banking appears throughout the debate, the UKCBC frames its proposals as a bid to align financial stability, consumer protection and innovation. That said, it insists that proportionate access to payment infrastructure is a precondition for any credible digital asset strategy.

Need for data sharing and constructive dialogue

The council describes “constructive dialogue” as a vital first step toward resolving tensions between banks and exchanges. However, it says that to date, “banks have not meaningfully engaged and have been unwilling to share data on fraud levels,” which limits the scope for evidence‑based policymaking.

According to the UKCBC, better data sharing between banks, regulators and exchanges would enable more precise controls targeting high‑risk behaviors rather than broad categories of activity. Moreover, shared fraud metrics could help identify which interventions are genuinely effective, reducing the temptation to rely on blunt open banking rejections and account bans.

The report concludes with a warning that “if the UK is going to lead the global race, this cannot continue.” In other words, the long‑term credibility of the UK’s digital asset ambitions may depend on whether lawmakers can balance fraud prevention with fair and predictable access to banking rails.

In summary, the UKCBC’s Locked Out report portrays a domestic crypto sector constrained by opaque banking policies, rising rejection rates and limited dialogue. Whether UK institutions adjust course will be a key test of the country’s broader strategy for digital assets in the coming years.

In the ever-evolving landscape of decentralized finance (DeFi), the search for secure, transparent, and truly decentralized stablecoins has become a priority for both institutional and private users.

In this context, BOLD, the stablecoin pegged to the US dollar developed by Liquity, has distinguished itself by receiving an A- rating from Bluechip, the independent rating agency specializing in stablecoins.

This achievement places BOLD at the top among stablecoins fully backed by crypto-native collateral, surpassing well-known names like USDC and DAI, both rated B+.

Bluechip Evaluation: Rigorous Criteria and Transparency

Bluechip serves as a benchmark for evaluating stablecoins, applying stringent criteria that include stability, management, decentralization, and governance. The rating obtained by BOLD reflects perfect scores (1.0) in Management, Decentralization, and Governance, placing it among the best stablecoins analyzed to date and on par with PayPal’s stablecoin, PYUSD.

Bluechip’s methodology focuses on key elements such as collateral quality, peg maintenance mechanisms, risk management, and governance structure.

The goal is to provide users and institutions with reliable tools to understand the differences between various stablecoin models, especially at a time when these represent the backbone infrastructure of the crypto and DeFi markets.

BOLD: Decentralization and Security Without Compromise

What makes BOLD unique in its kind is its complete decentralization and the absence of counterparty risks. The stablecoin is exclusively backed by Ethereum-native assets, such as ETH and the main liquid staking tokens (wstETH and rETH), without relying on banks, custodians, or off-chain reserves. This approach eliminates the risk of discretionary interventions and offers users a transparent and predictable alternative.

The BOLD protocol operates through immutable smart contracts, devoid of administrative keys and without the ability to freeze or blacklist funds.

All minting and redemption operations are accessible to anyone, at any time, and the stablecoin is always redeemable for the equivalent of 1 dollar in underlying collateral. The level of overcollateralization exceeds 200%, ensuring solid coverage even in adverse market conditions.

A Model Without Governance and Risks of Arbitrary Modification

Unlike many centralized or semi-centralized stablecoins, BOLD eliminates any form of discretionary governance. There are no committees, administrators, or intermediaries capable of altering the protocol’s rules. This means that users can rely on a system with clear, immutable, and on-chain verifiable rules in real-time.

According to Michael Svoboda, founder of Liquity Protocol, “BOLD is designed so that users do not have to rely on issuers, banks, or governance committees, but only on code. The A- rating with perfect scores for decentralization and governance demonstrates that a crypto-native stablecoin can meet institutional risk standards without depending on centralized intermediaries.”

An Alternative for Institutions and Advanced Users

The architecture of BOLD is specifically designed for DeFi treasuries, funds, and experienced users who wish to diversify their exposure to stablecoins with a truly sovereign and crypto-native asset.

Total transparency, the absence of blacklists, and the ability to verify every transaction directly on the blockchain make BOLD an ideal choice for those seeking control, transparency, and predictable rules.

Liquity V2, the new version of the protocol, distributes 100% of the revenue directly to BOLD users through a native model, without lending users’ collateral and allowing full withdrawals at any time. This structure eliminates the risk of arbitrary changes to economic rules, providing long-term operational certainty.

The Liquity Experience: From LUSD to BOLD

Liquity is not new to the decentralized stablecoin sector. The team has already developed LUSD, one of the longest-standing and most reliable stablecoins, which has reached a total value locked of $5 billion and has operated for over four years without security incidents.

BOLD represents the second generation of Liquity-branded stablecoins, expanding the principles of immutability and governance-free operation with greater capital efficiency and extended functionalities.

The Role of Independent Ratings in the Future of Stablecoins

With the growing global debate on regulation and transparency of stablecoins, independent assessments like those from Bluechip are becoming essential tools for risk management. Bluechip, established after the collapse of Terra/LUNA in 2022, applies a rating system ranging from A+ to F and has demonstrated remarkable accuracy: 75% of stablecoins rated F subsequently lost their peg.

The A- rating of BOLD demonstrates that decentralized and crypto-native stablecoins can achieve the highest levels of security, offering an inherently more prudent risk profile compared to bank-backed alternatives.

Conclusions: BOLD Marks a New Milestone for DeFi

The rise of BOLD as the benchmark stablecoin for transparency, decentralization, and security marks a significant step for the entire DeFi ecosystem. In a sector where trust in code and on-chain transparency is crucial, BOLD establishes itself as a reference model for those seeking stability without compromises and without relying on centralized intermediaries.

For more information on Liquity and BOLD, you can visit the official website [liquity.org](https://www.liquity.org).

Saudi Arabia’s growing interest in blockchain payments is drawing global players, with Ripple rlUSD now entering the conversation around future digital rails.

Ripple signs exploratory MoU with Riyad Bank subsidiary

Ripple, issuer of the RLUSD stablecoin, has signed a memorandum of understanding with Riyad Bank‘s innovation subsidiary to explore blockchain use cases within Saudi Arabia’s financial infrastructure, the company confirmed. The move targets potential applications across the Kingdom’s payment systems, including cross-border flows and tokenized settlement.

The agreement will examine how Ripple’s enterprise-grade blockchain and digital asset stack could enhance cross-border payments and other financial services. However, the parties emphasized that this is an exploratory phase, with no final production roadmap or launch schedule disclosed yet.

Riyad Bank, among the largest financial institutions in Saudi Arabia, has been building out its digital innovation agenda through a specialized subsidiary focused on new technologies. Moreover, the bank is positioning itself to plug into the Kingdom’s long-term vision for a more competitive and modern financial system.

Saudi fintech ambitions and tokenized payment rails

The partnership aligns with Saudi Arabia‘s broader strategy to develop a leading fintech sector and experiment with tokenized payment rails. Policymakers in Riyadh have been encouraging banks and financial institutions to work with global technology providers, while remaining within local regulatory standards and oversight.

That said, the memorandum of understanding does not yet specify which parts of Saudi infrastructure might adopt Ripple’s technology. Instead, it sets out a framework for ongoing evaluation, testing, and dialogue between the parties and, where relevant, domestic regulators.

The companies highlighted that any eventual deployment would need to complement existing systems and comply with Saudi rules on payments, remittances, and digital assets. Moreover, the MoU leaves room for potential pilots around institutional use cases before any broader rollout.

Ripple RLUSD strategy in the Gulf region

Ripple has been steadily expanding its presence across the Gulf, embedding its payment stack and RLUSD stablecoin with regional banks and authorities. The company already holds approvals for RLUSD in Dubai and Abu Dhabi, positioning the asset within two of the Middle East’s most active digital asset hubs.

Within this regional push, the ripple rlusd framework serves as a core building block for on-chain liquidity, settlement, and cross-border payment corridors. However, the Saudi MoU remains focused on research and collaboration rather than immediate commercial launches or consumer-facing products.

Ripple has long pursued partnerships with banks, payment providers, and fintechs worldwide to drive adoption of its blockchain-based solutions. Moreover, RLUSD sits within a broader digital asset infrastructure offering that aims to connect traditional institutions to tokenized money and real-time settlement rails.

Next steps and outlook for the Saudi collaboration

The memorandum of understanding marks the start of a structured evaluation period rather than a definitive deployment plan. According to the announcement, concrete implementation details will be developed only as the collaboration progresses and use cases are validated.

However, the alignment with Saudi Arabia’s fintech agenda suggests both parties see strategic value in long-term cooperation. Any eventual integration of Ripple’s technology into Saudi payment flows could reinforce the Kingdom’s ambitions to modernize financial infrastructure and strengthen its position in regional digital finance.

In summary, the Riyad Bank initiative underscores how RLUSD, Ripple’s enterprise solutions, and regional partnerships are converging across the Gulf. While timelines remain undefined, this early-stage collaboration signals another step in the gradual build-out of tokenized rails and cross-border capabilities in Saudi Arabia and beyond.

As financial markets approach a new phase of digital infrastructure, Deloitte argues that tokenized securities will face a decisive test once same-day settlement moves from theory to live pilots.

Deloitte flags T+0 settlement as a 2026 turning point

In its 2026 outlook report, Deloitte warns that the financial industry’s shift toward same-day settlement and blockchain-based instruments could reshape market plumbing, but also amplify risk if not carefully managed. The firm links its assessment to ongoing U.S. regulatory debates and market structure reforms.

The report highlights T+0 settlement as a key development for 2026. Under this model, trades settle on the same day they are executed, compressing post-trade timelines that currently allow more time to identify errors, mobilize cash, or source securities. However, the firm stresses that most early deployments will likely be limited in scope.

Roy Ben-Hur, managing director at Deloitte & Touche LLP, and Meghan Burns, manager at the firm, told CryptoSlate that a wholesale market overhaul is unlikely in the near term. Instead, they expect targeted pilot projects and contained experiments to lead the way.

“Signals point towards initial market experimentation via pilots rather than a full market shift,” the executives stated. Moreover, they argue that this measured approach will give regulators and market participants room to test controls before scaling.

How tokenized securities and faster settlement reshape risk

According to the report, tokenized securities refer to traditional instruments such as bonds or stocks that are represented in digital form and transferable on blockchain infrastructure. This architecture promises fewer intermediaries, faster movement of assets and cash, and improved record-keeping.

However, Deloitte cautions that accelerated settlement compresses the time window to correct trade errors, source liquidity, locate securities, or manage margin calls. While faster settlement can reduce counterparty exposure, it also concentrates operational and funding risk into a much shorter period.

The report notes that pairing same-day settlement with reduced reporting obligations could create oversight blind spots. That said, Deloitte believes robust compliance audit trail requirements can offset some of these risks if implemented from the outset rather than retrofitted later.

Regulatory initiatives and 2026 market structure changes

Deloitte links these developments to broader U.S. market structure changes expected by 2026. The firm points to the anticipated conclusion of the cash portion of the U.S. Treasury central clearing initiative and expected Securities and Exchange Commission proposals to amend Regulation NMS as catalysts for experimentation with blockchain-based tools.

Moreover, the report notes that regulators are signaling a greater willingness to streamline rules and create formal pathways for blockchain products, including digital representations of securities and stablecoins. These pathways are emerging even as regulators remain cautious about systemic risk.

Deloitte observes that the SEC has largely relied on no-action letters and staff guidance to enable tokenization pilots. No-action letters let firms pursue new market practices without full rulemaking, provided they operate within specific parameters and maintain strong control frameworks.

“In this context, it is a powerful tool to quickly enable changes in industry practice or available marketplace offerings, and we are seeing this already with approvals the SEC has granted recently,” Ben-Hur and Burns stated. However, the firm warns that reliance on targeted relief does not eliminate the need for robust supervision.

Tokenized collateral and stablecoins as early use cases

The report identifies collateral workflows as one of the earliest and most practical environments for tokenized assets. Ben-Hur and Burns point out that the Commodity Futures Trading Commission is examining stablecoins and tokenized collateral for use cases that benefit from instant settlement in liquid, dollar-linked instruments.

“The intra-day nature of collateral commitments makes it an attractive use case for an asset with these features and liquidity commitments. Custody and clearing will help it to scale,” the executives stated. This suggests that collateral processes could become a proving ground for tokenization at scale.

Moreover, Deloitte expects experiments with tokenized collateral workflows to shed light on how digital assets can support real-time risk management and margining. The firm adds that early stablecoin pilots may influence how other fixed-income and equity products are eventually tokenized.

According to Deloitte, these focused trials will help determine whether the operational gains from blockchain-based collateral can be replicated in more complex cash and derivatives markets. However, the firm stresses that technology alone will not solve underlying governance and data challenges.

Coexistence of tokenized and traditional assets

As same-day settlement pilots expand, Deloitte expects a transition period in which tokenized and non-tokenized versions of the same underlying asset coexist. This dual structure could complicate pricing, liquidity allocation, and order routing across venues.

The firm warns that the coexistence phase may heighten market liquidity fragmentation risks if trading interest disperses across multiple platforms. Moreover, routing algorithms and best execution policies will have to adapt to instruments that share fundamentals but differ in technological rails.

Deloitte’s report notes that faster settlement could enable new market entrants and increased competition. However, the proliferation of trading and execution venues could make it harder for regulators and participants to monitor aggregate liquidity and risk concentrations.

In this environment, the question of what are tokenized securities becomes not just definitional but operational, as market participants must determine how these digital representations interact with existing post-trade and custody frameworks.

Reporting, transparency, and oversight pressures

A core concern in Deloitte’s outlook is the interaction between accelerated settlement and efforts to trim reporting obligations. The firm warns that initiatives aimed at reducing reporting burdens could increase market opacity at precisely the moment when visibility is most needed.

According to the report, the compressed settlement window leaves less time to detect manipulation, reconcile position discrepancies, or respond to sudden market stress. Moreover, if reporting lags behind transaction speed, supervisors may be forced to operate with incomplete or outdated information.

Deloitte therefore recommends that firms adopt streamlined but robust reporting processes that preserve auditability even as settlement cycles shorten. The firm stresses that documentation standards, surveillance systems, and cyber defenses must keep pace with the speed and complexity of digital operations.

Ben-Hur and Burns emphasize that compliance programs, supervision, and detailed audit trails become more critical as settlement systems move toward T+0. However, they also argue that well-designed controls can coexist with efficiency gains when embedded directly into digital workflows.

Testing whether tokenization becomes core infrastructure

For Deloitte, 2026 represents a proving ground for whether tokenized architectures can genuinely improve settlement and collateral processes while preserving transparency and stability. The firm anticipates that regulators will closely monitor early pilots before deciding on broader adoption.

Moreover, Deloitte suggests that the outcome of these initiatives will determine whether tokenized securities become integrated into core market infrastructure or remain confined to niche applications. The performance of pilots in stress conditions will likely be a decisive factor.

The report concludes that faster settlement and digital assets could deliver meaningful benefits, including reduced counterparty risk and more efficient collateral utilization. However, those benefits will only be realized if market participants pair technological innovation with rigorous governance, strong risk management, and resilient operational frameworks.

In summary, Deloitte frames the coming years as a make-or-break phase for tokenization and same-day settlement, arguing that the industry’s ability to balance speed with transparency will shape the future architecture of global capital markets.

Digital assets are trading in a fragile balance, with the broader bitcoin outlook increasingly shaped by spot demand, ETF flows, and shifting macro conditions.

BTC price stalls below key resistance as range trade persists

Bitcoin failed to sustain its latest attempt to break higher, with the price unable to hold above the $95,000–$98,000 resistance zone and slipping back into its prior range. After peaking at $97,850 in mid-January, BTC has retraced more than 10 percent, dropping below the yearly open as spot buying momentum has faded and ETF outflows have intensified.

The rejection of further upside emerged close to the short-term holder cost basis, underlining a delicate equilibrium, where downside remains absorbed but upside is consistently met with distribution from prior-cycle buyers. Moreover, this pattern suggests that many investors who accumulated in earlier cycles are still taking profit into strength, limiting the scope for sustained rallies in the near term.

Derivatives positioning has reset in an orderly fashion, and the volatility response remains concentrated at the very short end of the curve. However, this skew toward front-end volatility points to event-driven caution rather than a decisive shift in the broader market regime. In the absence of renewed spot and ETF demand, BTC is likely to remain range-bound, with consolidation dominating price action until a clearer demand catalyst emerges.

Evaluating the current bitcoin outlook amid ETF flows and spot weakness

The interplay between spot demand, ETF flows, and on-chain behavior continues to define the medium-term narrative. While selling pressure from prior-cycle holders has so far met emerging demand, the balance appears fragile. That said, the market has avoided disorderly deleveraging, with derivatives markets exhibiting controlled liquidations and contained funding stress.

Moreover, the recent drift in prices has narrowed participation, with marginal buyers turning more selective as macro volatility rises. This backdrop aligns with broader concerns about bitcoin spot demand weakness, particularly as investors reassess risk exposure in response to shifting interest rate expectations and tightening financial conditions.

Geopolitics and macro volatility weigh on risk sentiment

Geopolitical uncertainty has added another layer of instability to global markets, most notably during the latest escalation, and then rapid de-escalation, of US strategic ambitions in Greenland. Tariff threats briefly triggered a risk-off move across equities and pushed volatility sharply higher, before the swift pullback in policy rhetoric restored near-term stability.

However, investor positioning indicates that many market participants view the subsequent rebound as mere stabilisation rather than a renewed expansionary phase. The focus has shifted toward capital preservation, with investors more willing to trim exposure to higher-beta sectors, including speculative technology and some digital asset segments, when policy headlines turn hostile.

US economic growth resilience and limits of monetary easing

US economic growth resilience remains notable, supported by strong consumer spending, yet the expansion faces mounting constraints. Persistent inflation, weakening household savings, and tighter financial conditions collectively weigh on the outlook. While robust demand has kept output above trend, income growth has lagged behind, forcing households to lean more heavily on credit.

Elevated prices, especially for essential goods, are placing increasing pressure on lower- and middle-income households. Moreover, this squeeze restricts the Federal Reserve’s ability to ease policy, even as there are clearer signs of cooling in the labour market. As a result, monetary conditions are likely to stay restrictive until there is more convincing and broad-based disinflation, which could, in turn, limit appetite for high-volatility assets such as cryptocurrencies.

Financial markets signal tighter conditions despite policy shifts

Financial markets are reinforcing the cautious stance now evident in macro data. Rising long-term yields, a higher term premium, and the unusual combination of US dollar weakness alongside bond market stress all flag heightened concern about fiscal sustainability, policy stability, and geopolitical risk. This combination has historically fostered more selective risk-taking.

Capital has been rotating gradually toward defensive assets, including higher-quality bonds and select commodities, even as policy rates ease marginally at the front end. However, this steady move into havens indicates that financial conditions are tightening in practice, despite the appearance of modest policy relief. For digital assets, this environment tends to suppress speculative excess while favoring more established networks with stronger liquidity profiles.

Tokenised equities and the evolution of market infrastructure

Amid cyclical volatility, structural developments in market infrastructure continue to advance. The New York Stock Exchange, through its parent company Intercontinental Exchange, is preparing to launch a blockchain-enabled, 24/7 trading venue for tokenised equities. This initiative marks a significant step toward integrating digital ledgers directly into traditional capital markets workflows.

Moreover, a continuous trading venue operating outside conventional market hours could gradually reshape how liquidity is provided and how securities are settled. While initial volumes may be modest, the presence of a major exchange brand in tokenisation validates the long-term potential of blockchain-based rails in equity trading and settlement.

Corporate adoption of digital assets as strategic reserves

Corporate adoption of digital assets continues in parallel with infrastructure upgrades. Long-term buyers such as Strategy and Bitmine Immersion Technologies are expanding their holdings of bitcoin and Ether, treating them as strategic balance-sheet reserves rather than purely speculative positions. This trend underscores the gradual institutionalisation of the asset class.

However, the pace of new entrants remains measured, with most corporates still assessing accounting treatment, regulatory clarity, and liquidity considerations before committing significant allocations. That said, each additional public company that discloses sizeable digital asset holdings provides a further reference point for treasury frameworks and risk committees evaluating similar moves.

Bitcoin outlook in a cautious macro regime

In summary, the near-term outlook for bitcoin and the broader crypto market is defined by range-bound trading, constrained risk appetite, and a cautious macro backdrop. Until spot demand reaccelerates and ETF flows stabilise, upside appears capped by active distribution near resistance and fragile investor confidence.

Nonetheless, ongoing innovation in tokenised market infrastructure and steady corporate adoption of digital assets offer a counterbalance to cyclical headwinds. Over the longer term, these structural shifts may strengthen the foundation for the next phase of growth once macro conditions and risk sentiment turn more supportive.

BlackRock’s latest move in digital assets adds an income angle to the evolving blackrock bitcoin exchange-traded product landscape in the United States.

BlackRock files for iShares Bitcoin Premium Income ETF

BlackRock, the world’s largest asset manager with $14 trillion in assets, has submitted a filing for a new iShares Bitcoin Premium Income ETF. The proposed fund aims to give investors exposure to Bitcoin while also seeking to generate additional yield from derivatives strategies.

According to the filing, the ETF would combine direct exposure to the underlying cryptocurrency with income generation tools such as covered calls and option-related strategies. Moreover, the product is structured to appeal to investors who want digital asset exposure but also prioritize regular income over pure price appreciation.

Options-based income strategy on Bitcoin

The filing explains that the ETF intends to employ a covered calls strategy and collect option premiums on its Bitcoin holdings. In practice, the fund would hold Bitcoin and sell call options against that position, aiming to harvest option premium income as an additional return source.

However, this approach can cap upside if Bitcoin rallies sharply, since the calls sold by the fund may be exercised. That said, investors benefit from the income stream generated by the options, which can help smooth returns in volatile markets and may appeal to more conservative allocators.

Regulatory path and SEC approval process

The new ETF still requires review and potential crypto etf approval by the U.S. Securities and Exchange Commission (SEC). If approved, the vehicle would join an expanding roster of U.S.-listed crypto-related exchange-traded products, many of which launched after key regulatory decisions in recent years.

Moreover, an income-oriented structure could help broaden the investor base for crypto products beyond speculative traders. The filing underscores that the ETF would be listed and traded on a regulated exchange, giving institutions and advisors a familiar wrapper through which to gain Bitcoin exposure.

Institutional and retail access to income-focused Bitcoin exposure

If regulators sign off, the iShares vehicle would give both institutional and retail investors a way to access Bitcoin with an income-focused overlay. This design reflects growing demand for income focused bitcoin strategies that can fit within diversified portfolios and meet distribution targets.

However, as with any options-based product, investors need to weigh trade-offs between income generation and foregone upside. That said, the structure may be attractive for investors who prioritize cash flow and risk management over capturing every leg of Bitcoin’s price swings.

BlackRock’s broader crypto expansion

The iShares Bitcoin Premium Income ETF marks another step in BlackRock’s broader push into digital assets and blackrock bitcoin funds. Earlier products have already given clients access to spot and futures-based Bitcoin exposure, reinforcing the firm’s role as a major gateway between traditional finance and the crypto ecosystem.

Moreover, the latest filing highlights how large asset managers are experimenting with more sophisticated structures that combine traditional income strategies with crypto exposure. As of 2024, this trend reflects a maturing market where yield-focused offerings are emerging alongside pure beta products.

In summary, BlackRock’s proposed iShares Bitcoin Premium Income ETF would blend direct Bitcoin exposure with options-based income strategies, potentially offering a new tool for investors seeking regulated, yield-oriented access to the crypto market.

The Tezos blockchain has reached a new, significant milestone with the activation of its twentieth protocol evolution, named Tallinn.

The update, developed by Nomadic Labs, Trilitech, and Functori, was approved and implemented through an on-chain governance process that actively involved both the bakers (network validators) and the community.

This achievement further solidifies Tezos’ reputation as one of the most reliable blockchains, capable of quickly adapting to market demands without ever disrupting network operations.

According to Yann Régis-Gianas, Head of Engineering at Nomadic Labs, “adapting to market demands 20 times in 7 years, without ever experiencing interruptions and in a completely decentralized manner, is irrefutable proof of the reliability and long-term vision of Tezos.”

Dramatic Reduction in Block Times: Just 6 Seconds

One of the most revolutionary aspects of the Tallinn upgrade is the reduction of Layer-1 block time to just 6 seconds. This means that transactions are confirmed much more quickly, reducing latency and accelerating finality on the network’s censorship-resistant settlement layer.

This innovation integrates seamlessly with Etherlink, the EVM-compatible Layer-2 solution of Tezos, which already confirms transactions in less than 50 milliseconds. Now, thanks to the Layer-1 finality achieved in two blocks (i.e., 12 seconds), the user experience and transaction security are further enhanced.

Enhanced Security and More Predictable Rewards

Another innovation introduced by Tallinn concerns the block validation mechanism. From now on, all bakers can attest to every block, no longer just a selected subset. This change enhances network security and makes staking rewards more predictable for participants.

The key to this innovation lies in the adoption of BLS cryptographic signatures, which allow the aggregation of hundreds of signatures into one per block. This lightens the load on network nodes, paving the way for potential further reductions in block times in the future.

Application Storage Up to 100 Times More Efficient

The Tallinn update also introduces a feature called Address Indexing Registry, which promises to revolutionize storage management for applications using the Michelson runtime.

By eliminating redundant address data, apps adopting this functionality can benefit from up to 100-fold reduction in storage costs and increased throughput capacity.

Yann Régis-Gianas emphasized how this innovation was developed by listening to the needs of builders on Tezos: “Our development team is excited to deliver such drastic improvements for enterprise-level applications, large NFT ledgers, and other solutions that manage many addresses.”

Seven Years of Continuous Evolution Without Forks

Since its launch in 2018, Tezos has stood out for its ability to evolve without ever resorting to forks, thanks to an on-chain governance system that constantly involves the community and validators. Each protocol update has introduced new features designed to enhance the experience for both users and developers.

With Tallinn, Tezos takes another step forward towards a faster, more secure blockchain optimized for enterprise use, without ever compromising decentralization.

This upgrade is yet another demonstration of the network’s ability to quickly adapt to user needs and ensure longevity through continuous innovation and optimization.

Tezos: A Blockchain Designed for the Future

Tezos is an open-source, energy-efficient blockchain designed to support institutions, developers, and businesses in managing and transferring value in a digital environment. Thanks to its modular and scalable design, Tezos is perfectly suited for the deployment of next-generation decentralized applications.

Among the first projects to implement Proof of Stake on a global scale, Tezos has earned the respect of the international community for its robust governance, ability to upgrade over time, and advanced smart contract functionalities.

Conclusions: a Constantly Growing Ecosystem

The Tallinn upgrade marks a new era for Tezos, reaffirming its status as one of the most dynamic and innovative blockchains on the global scene. The reduction in block time, enhanced security, reward predictability, and storage efficiency are just some of the advantages that will make Tezos even more attractive to developers, businesses, and end users.

For more information on Tezos and its developments, you can visit the official website [www.tezos.com](http://www.tezos.com).

In the increasingly competitive landscape of trading platforms, a new entity emerges with the ambition to redefine the rules of the game.

It’s called Everything, an exchange aiming to unify perpetual futures, spot markets, prediction markets, and payments into a single platform, offering users an unprecedented experience in simplicity, transparency, and security.

The announcement comes from Hong Kong, where the company has just closed a seed round of $6.9 million, led by Humanity Investments, the venture arm of Humanity, with participation from prominent names such as Animoca Brands, Hex Trust, Jamie Rogozinski (founder of WallStreetBets), and Three Point Capital.

One platform, one rule: simplicity and transparency

The innovation of Everything lies in its unifying philosophy: instead of forcing traders to manage multiple accounts on different platforms, with separate rules and balances, Everything offers a single account, a single balance, and a single set of clear rules.

This setup eliminates the fragmentation that characterizes the sector today, where the multitude of platforms generates confusion, inefficiencies, and risks for users.

The platform is designed to operate seamlessly on Telegram, mobile devices, and the web, ensuring users maximum flexibility and accessibility. The first step will be the launch of a mini-app on Telegram to simplify onboarding, followed by an expansion to mobile, desktop, and web, with new features and ecosystem initiatives already outlined in the official litepaper.

Security and Integrity: The Strength of Humanity’s Human Verification

One of the most revolutionary aspects of Everything is the integration of Humanity’s human verification. Thanks to this technology, each user can have only one account, ensuring the integrity of the system and protecting the platform from so-called Sybil attacks and manipulations through bots or multiple accounts.

In this way, Everything ensures that incentives, rewards, and community programs are truly directed to unique individuals, eliminating the possibility of “farming” through fake accounts and ensuring that leaderboards and airdrops reflect the actual participation of users.

Tim Tsai, CEO of Everything, emphasizes: “The issue is not the lack of options for traders, but the fragmentation, opacity, and dominance of bots on existing platforms. Everything is designed to offer simplicity, transparency, and fairness to retail traders: one account, one balance, clear rules for everyone.”

Strategic Partnerships and Institutional Guarantees

Everything can rely on a network of leading strategic partners. In addition to Humanity, which provides verification technology, the collaboration with Hex Trust, one of the main regulated financial institutions in Asia, and Jamie Rogozinski, the most authoritative voice in the retail community thanks to the experience of WallStreetBets, stands out.

This combination allows for the merging of authenticity, security, and community participation, creating an environment where institutions ensure security and the community helps define the rules, while bots find no space.

Terence Kwok, CEO and founder of Humanity, highlights: “We are merging the most authentic voice of retail trading with the leading regulated financial institution in Asia and Humanity’s Proof-of-Trust network, to ensure one-person-one-account integrity. Together, we are building an exchange where the community sets the rules, institutions provide security, and bots have no chance to operate.”

The Distinctive Features of Everything

Founded by former leaders of KuCoin, Alibaba, and Tencent, Everything stands out for several key features:

Total unification: perpetual futures, spot, prediction markets, and payments on a single platform.

Leverage up to 1000x: access to crypto, stocks, and commodities with unprecedented leverage, maintaining transparency and clear market mechanics.

Human verification: thanks to Humanity, each user is unique, safeguarding the platform from abuse and manipulation.

Cross-platform experience: seamless use on Telegram, mobile, and web, with simplified onboarding and immediate access.

Community at the core: rewards and programs structured around genuine user participation, not the volume of accounts.

Humanity: the new frontier of digital trust

At the core of Everything lies Humanity’s technology, which positions itself as the true “trust layer” of the internet. Humanity enables users to demonstrate facts about themselves through portable and private credentials, without revealing sensitive data. Humanity’s Proof-of-Trust system allows for the verification of identity, eligibility, and access, replacing simple assumptions with verifiable credentials, for a safer and more reliable digital world.

The $H token of Humanity is already active on major exchanges, with a fully diluted valuation exceeding 2 billion dollars, confirming Humanity as a pillar of the decentralized trust ecosystem.

Future Prospects and Developments

Everything is gearing up for a gradual launch, with the mini-app on Telegram as the first step and a roadmap that includes expansion across all major digital platforms. The goal is clear: to become the go-to hub for trading perpetual futures, spot, prediction markets, and payments, providing users with a unified, secure, and truly transparent experience.

For those who wish to learn more, Everything provides access to the official website (https://everything.co), the X channel (https://x.com/trdEverything), and the Telegram group (https://t.me/trdeverything).

Everything thus positions itself as the go-to platform for those seeking simplicity, transparency, and security in the world of digital trading, thanks to an innovative vision and high-profile partnerships on the global stage.

Users interacting through Matcha Meta have been hit by the swapnet hack, which abused risky token approvals to steal funds from exposed wallets.

Attack drains $16.8 million via exposed approvals

Blockchain security firm PeckShieldAlert first flagged a major security incident involving SwapNet that impacted Matcha Meta users. Attackers abused existing token permissions and ultimately drained $16.8 million in crypto from affected wallets. However, the core issue stemmed from how approvals were configured, not from a direct exploit in Matcha Meta’s code.

According to PeckShieldAlert, the breach targeted users who had altered their default Matcha Meta security settings. Instead of relying on safer, temporary permissions, these users had granted broader and more persistent access to protocol contracts, leaving assets vulnerable once an attacker discovered the exposure.

How the SwapNet exploit was executed

Matcha Meta offers a One-Time Approval system that limits token access to a single transaction. This design helps contain risk by ensuring that, after execution, smart contracts no longer have ongoing authority over the user’s tokens. Moreover, it forces a fresh approval before any new spending can occur.

However, some users disabled the one time approval disabled protection and instead granted direct, long-term allowances to individual aggregator contracts. These persistent approvals were linked to SwapNet, effectively giving its contracts continuous access to user funds across multiple transactions without additional confirmations.

Attackers then targeted those permanent token approvals. Once a wallet had approved the SwapNet-related contracts, the hacker could move tokens at will, without needing new signatures from the victim. That said, this allowed entire balances to be drained quietly, as no fresh on-chain approval prompts were required from users.

In practical terms, the swapnet hack turned these broad allowances into a direct attack vector. Approvals that were meant for convenient trading became a tool for unauthorized fund transfers after the contracts were compromised or misused.

On-chain traces on Base and Ethereum

On-chain data reveals that the attacker focused heavily on the Base network. Roughly $10.5 million in USDC was swapped for about 3,655 ETH, according to early analyses. Moreover, the timing and pattern of swaps suggest a coordinated attempt to quickly convert and redistribute the stolen stablecoins.

Shortly after the initial swaps, the attacker began base network bridging, moving funds from Base to Ethereum. Bridging is a common technique used by on-chain thieves to complicate tracking and mix transaction histories across multiple chains, making law enforcement and analytics efforts more challenging.

Additional transaction records show large USDC transfers exceeding $13 million and direct interactions with Uniswap V3 liquidity pools. Furthermore, PeckShieldAlert’s peckshieldalert breach report estimates that the cumulative impact reached approximately $16.8 million in stolen assets after aggregating activity across the involved addresses.

Matcha Meta and SwapNet reaction

Matcha Meta publicly acknowledged the incident and stated that it is collaborating closely with the SwapNet team. As an immediate containment measure, SwapNet temporarily disabled its contracts to halt further exploitation and reduce the risk of additional wallets being drained.

Furthermore, Matcha Meta removed the option for users to set direct aggregator allowances, which had created the opening for the attack. The change aims to ensure that future trading activity relies on more restrictive approval patterns, reducing the blast radius if a similar incident occurs again.

The platform also urged users to revoke token approvals that fall outside of 0x‘s own One-Time Approval contracts. In particular, Matcha Meta highlighted allowances linked to SwapNet’s router contract, which have now been identified as a key risk factor in the breach.

Ongoing investigation and user protection

Investigations into the breached wallets and associated contracts remain ongoing. Both Matcha Meta and SwapNet have pledged to provide continuous updates as they track the movement of the stolen funds and engage with security researchers. However, recovering assets in such on-chain incidents often proves difficult once funds are laundered across multiple protocols.

For now, the teams are concentrating on limiting further exposure and guiding users on safe practices. That said, the episode underlines how powerful token approvals can become a liability when misused or left unchecked, especially once a swapnet router compromised scenario emerges.

In summary, the breach shows that configuration choices around approvals are as critical as smart contract code. Users who rely on restrictive, one-time permissions and routinely audit their allowances are better positioned to withstand similar exploits targeting DeFi aggregators.

In late January 2026, the team behind pi network rolled out a major protocol upgrade and a new game as part of its ongoing ecosystem push.

WordPi Beta brings a daily game to Pi Browser

The new WordPi Beta is now live inside the Pi Browser, adding a simple daily word challenge to the ecosystem. It works as a five letter word puzzle, where players must guess the hidden word in six attempts. Moreover, every day unlocks a fresh challenge.

Beyond the core puzzle, the pi browser puzzle features basic social and feedback tools. Users can rate the app, submit comments and stake inside the app to help improve its ranking within the Pi ecosystem. This staking based ranking model aims to reward useful applications and guide future development priorities.

Pi Network is encouraging its more than 15.8 million Pioneers already on mainnet to test the beta version and share ideas. The team says the goal is to build better apps through community input. That said, WordPi is only one element in a wider plan to create real utility and daily engagement within the network, rather than focusing solely on speculative dynamics.

Stellar Protocol v25 upgrade goes live on mainnet

Alongside the game launch, Pi Network has completed the rollout of the Stellar Protocol v25 upgrade on its mainnet. The new version focuses on improving privacy and long term security, while also preparing the blockchain for advanced Zero Knowledge proof technology. These tools are designed to protect user data but still allow the system to verify activity.

The team explained that v25 strengthens the base layer of Pi’s blockchain. It improves efficiency and sets the stage for more powerful applications to run smoothly in the future. Moreover, developers now gain access to a stronger toolset and tighter protections, which could support more complex decentralized services over time.

This core upgrade went live as roughly 134 million PI tokens unlocked in January, a key pi token unlock event for the ecosystem. Instead of concentrating on supply changes alone, project leaders say they are responding with greater utility and infrastructure. They argue that more robust technology is essential to sustain long term growth and to support future zk proof integration on the chain.

Community governance vote highlights network scale

The v25 rollout was paired with a large scale pioneer governance vote on the protocol upgrade. Millions of Pi users were able to participate directly in the decision, turning the implementation into a live test of community governance. During the vote, some users reported application slowdowns and intermittent errors.

However, Pi supporters argued these issues did not represent a server crash, but rather a meaningful stress test of the network’s capacity. More than 15.8 million Pioneers ultimately took part in the vote, underlining the size of the community and the level of user engagement across the ecosystem.

Many participants said the event showed Pi’s progress toward real decentralization and user driven governance. Combined with apps like WordPi, the ongoing stellar protocol upgrade path and the recent pi network protocol changes, the project is trying to align growth, security and everyday usability. Moreover, the team states that the next phase of 2026 will focus on practical applications, enhanced privacy and strengthening community control over the network’s evolution.

Outlook for Pi’s ecosystem in 2026

Looking ahead, Pi Network plans to expand its catalogue of simple tools, games and services that encourage daily interaction. WordPi Beta serves as an example of how light entertainment can sit alongside core infrastructure upgrades. That said, the project’s long term success will likely depend on whether developers can use the upgraded base layer to launch applications that attract sustained real world use.

As 2026 progresses, the combination of protocol improvements, community votes and new apps suggests a strategy focused on building a usable, privacy aware blockchain environment. With millions of Pioneers already active on mainnet and more token unlock events scheduled, Pi Network aims to prove that an engaged community and steady technical upgrades can underpin its next growth phase.

In the current context, the Dogecoin price (DOGEUSDT pair) is attempting to defend the $0.12 area, within a framework still set to bearish on the daily.

DOGE/USDT with EMA20, EMA50, and volumes”
loading=”lazy” />DOGE/USDT — daily chart with candles, EMA20/EMA50, and volumes.

Market Context: risk-off, high BTC dominance, DOGE in the background

The macro crypto context does not support sentiment on meme coins like Dogecoin:

BTC Dominance ~57.5%: capital is concentrated on Bitcoin, a typical signal of a defensive market phase. Altcoins, particularly the more speculative tokens, struggle to attract fresh flows.

Total crypto market cap slightly down (~ -0.8% in the last 24 hours): we are not in panic selling, but in a progressive rotation towards assets perceived as more solid.

Fear & Greed Index at 20 (Extreme Fear): risk aversion is high; historically, these areas can anticipate good accumulation zones for the medium term, but in the short term, they often mean irregular volatility and easily sold rebounds.

In this scenario, the Dogecoin price tends to be affected by the context rather than lead it.

Daily (D1) on DOGEUSDT: main bearish scenario

On the daily, the picture is unequivocal: the underlying trend remains bearish and the level of $0.12 is central. The level coincides with the current daily close, the daily pivot, and the lower part of the Bollinger Bands.

Price and moving averages (EMA20, EMA50, EMA200)
– D1 Close: $0.12
– EMA20: $0.13
– EMA50: $0.14
– EMA200: $0.17

The Dogecoin price today is steadily below all major averages. Moreover, the progressive distance between price, EMA50, and especially EMA200 indicates an already consolidated bearish structure, not just a momentary correction. As long as DOGE remains below $0.13–$0.14, every rebound is, essentially, a movement within a descending trend.

Daily RSI (14 periods): 37.24
We are in a weakness zone, but not yet in extreme oversold. This means there is still room, theoretically, for another bearish leg without necessarily seeing a strong technical rebound. At the same time, the RSI is approaching the area where accumulation attempts often begin by those buying the “dip”.

Daily MACD: flat (line, signal, and histogram ~ 0)
The flat MACD indicates that the recent decline has somewhat cooled off. It is not a bullish signal, but it indicates weak momentum and a stalling phase after the drop. We are in an area where the market can prepare for either a continuation downward or a rebound; currently, the MACD does not provide a clear directional advantage.

Daily Bollinger Bands
– Central band (mid): $0.13
– Upper band (up): $0.15
– Lower band (low): $0.12

The price of DOGE is practically working on the lower band. This usually indicates a phase of bearish pressure, but also that the asset is close to conditions where technical rebounds become more likely. The fact that the bands are not particularly expanded suggests that, for now, we are not in a violent collapse, but in a more controlled descending trend.

Daily ATR (14): 0.01
The contained ATR indicates that the average daily volatility is relatively low in absolute value, with movements of about $0.01. Any break of key levels with a range exceeding this would be more significant. Movements of $0.02–$0.03 in a single session would be a clear signal of a change in volatility regime.

Daily pivots (calculated on the daily)
– Pivot point (PP): $0.12
– Resistance 1 (R1): $0.12
– Support 1 (S1): $0.12

The fact that pivot, R1, and S1 coincide at $0.12 is unusual and further emphasizes how this level is the true pivot of the Dogecoin price in real-time. Practically, the market is freezing DOGE at this number: the next volatility expansion will almost certainly start from here.

Daily regime: bearish
The algorithmic definition of a bearish regime coincides with what is seen on the Dogecoin chart: declining highs, price below averages, and a general market in risk-off. The main direction remains unfavorable to buyers.

Hourly timeframe (H1): fragile rebound within a weak trend

Moving to H1, the Dogecoin chart shows more balance compared to the daily, but not a true reversal.

Price and moving averages on H1
– H1 Close: $0.12
– EMA20: $0.12
– EMA50: $0.12
– EMA200: $0.13

In the short term, the price is practically glued to the fast averages, while the EMA200 at $0.13 remains the true demarcation line between a temporary rebound and a more credible reversal. As long as DOGE remains below $0.13 on H1, the picture remains one of structural weakness.

RSI H1: 46.65
Hourly RSI in a neutral-low zone, without excesses. The market is neither oversold nor overbought. The bearish momentum has eased, but there are no signs of strong buying force. It is a typical post-drop consolidation context.

MACD H1: flat
Here too, the MACD oscillating around zero indicates a lateral and undecided market. Volumes and the push for a strong directional movement in the very short term are lacking.

Extremely tight Bollinger Bands H1 (all around $0.12)
We are in a volatility compression on the hourly. Usually, phases like this precede a decisive break, up or down. The problem is that the indicators do not yet provide clear indications on the probable direction of the next move.

ATR H1 ~ 0
The market is practically stuck in a micro-range. This makes intraday trading complicated because many signals risk being pure noise until a true volatility expansion is seen.

Pivot H1 (PP/R1/S1 all at $0.12)
Same discussion as the daily, but amplified: $0.12 is the price magnet. Any credible hourly break will need to be confirmed by closes above or below this area with increasing volumes and volatility.

Regime H1: bearish
Even though the moment is lateral, the regime remains set to bearish. This means that, statistically, breaks to the downside have slightly more probability of extending compared to breaks to the upside, at least until the context changes.

15-minute timeframe (M15): micro-laterality, market in waiting

On the 15 minutes, the DOGE price is in a true suspension.

Price and averages on M15
– M15 Close: $0.12
– EMA20: $0.12
– EMA50: $0.12
– EMA200: $0.12

When price and all short and medium averages coincide, the market is in full congestion. There is no intraday directional advantage; any scalping in this phase has a high risk of being hit by false breakouts.

RSI M15: 45.62
Flat momentum, slightly tilted towards weakness but without excesses. Sellers are no longer pushing hard, but buyers have not yet taken control.

MACD M15: flat
Once again, a static equilibrium picture. This confirms the idea that, in the very short term, the market is breathing after a bearish phase, waiting for the next catalyst.

Tight Bollinger Bands M15 on $0.12
There is a strong volatility compression even on the 15 minutes. When multiple timeframes show squeezed bands, the breakout that follows is often violent. The problem here is the direction: the higher trend, i.e., the daily, pushes downward, but the lower timeframes show some fatigue in the descent.

ATR M15 ~ 0
Intraday, the Dogecoin value is practically nailed. Those working on very low timeframes need to wait: operating in this phase often means just paying commissions without a real edge.

Regime M15: neutral
The neutral on the 15 minutes is consistent with the congestion. There is not yet a micro-reversal signal, but neither is there a clear push to continue descending.

Plausible bullish scenario on Dogecoin

To seriously talk about an improving Dogecoin trend, a clear sequence of signals is needed, not a single spike.

What should happen on the daily
– Decisive hold of the $0.12 area with multiple daily closes above this level.
– Price rebound towards EMA20 at $0.13 and subsequently attack on EMA50 at $0.14.
– RSI rising steadily above 45–50, indicating that the bearish momentum is dissipating.

Such a scenario would transform the current support into a credible local minimum. In that case, the DOGE price could start an accumulation phase between $0.12 and $0.15, with the possibility of extension towards the upper Bollinger band, around $0.15, if a bit of short-term euphoria enters.

Signals to watch on H1 and M15 to confirm the rise
– Break and hourly closes above $0.13, i.e., above the EMA200 H1.
– RSI H1 stabilizing above 55–60.
– Expansion of Bollinger Bands upwards after the current compression.

Key levels for the rise
– First step: $0.13 (recovery of the daily EMA20 and the H1 EMA200).
– Second step: $0.14 (daily EMA50, important supply area).
– Aggressive extension: $0.15 (upper part of the current range and daily upper band).

Invalidation of the bullish scenario
– Decisive daily closes below $0.12 with increased volatility, i.e., daily range exceeding $0.01, and RSI dropping back towards 30 or less.
– In practice: if the support at $0.12 breaks convincingly, any structural rebound scenario needs to be reconsidered.

Plausible bearish scenario on Dogecoin

The scenario consistent with the main trend is still the bearish one.

What would activate it
– Clear break of the $0.12 support on H1 and then on D1.
– Volatility expansion with a daily range clearly exceeding $0.01, with closes near session lows.
– Daily RSI sliding towards 30 or below, signaling a new wave of selling.

In this case, the real-time Dogecoin price would stop floating on the support and open space towards new local lows. We do not have precise lower support levels in the data, but technically, once the $0.12 level is lost, the market would seek the next historical level of significant demand, built in the old bases of the previous cycle.

How it would manifest on H1 and M15
– Break of micro-congestions with wide red candles and Bollinger Bands opening downwards.
– MACD detaching from zero towards the negative area with an expanding histogram.
– RSI on M15 and H1 decisively entering below 35, indicating more aggressive selling.

Key levels for the bearish scenario
– Trigger: clean loss of $0.12 on multiple timeframes.
– Control resistance for bears: the $0.13–$0.14 zone. Any rebound rejected there would confirm the descending structure.

Invalidation of the bearish scenario
– Stable recovery above $0.13 with volumes and daily closes reclaiming the EMA20 and testing the EMA50.
– Daily RSI returning above 50, indicating that selling pressure is no longer dominant.

What this context means for those watching the Dogecoin price

The multi-timeframe picture is clear:
– Daily bearish: the underlying direction is unfavorable to buyers.
– H1 bearish but on pause: after the drop, the market is catching its breath.
– M15 neutral and compressed: intraday, the price is in tight congestion.

This mix often generates false signals, such as breakouts above $0.13 that are quickly absorbed and spikes below $0.12 that immediately return to the range.

Those following the Dogecoin price with an operational perspective should give more weight to the daily trend, still bearish. Additionally, it is advisable to use H1 and M15 only to refine entry, not to decide the main direction. The macro context, with Extreme Fear and high BTC dominance, tends to penalize excessive enthusiasm on DOGE.

In summary, the market is in a waiting phase on a critical support at $0.12. The next volatility expansion will clarify whether it is a silent accumulation or just a pause before further unloading. Until the picture unlocks with a clear break of the mentioned levels, it is prudent to consider the risk of impulsive entries based on isolated intraday movements as high.

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Disclaimer: The information contained in this article is for informational purposes only and does not constitute financial advice, investment invitation, or solicitation of public savings. Trading in cryptocurrencies involves a high level of risk and may not be suitable for all investors. Carefully consider your objectives, experience, and risk tolerance before operating in the markets.

In a context of heightened nervousness in the crypto markets, the price of Ethereum today remains pressed below the $3,000 area, with the technical outlook still dominated by sellers.

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

Ethereum Trend Today: Daily (D1) Outlook Still Bearish

On the daily chart, the main trend is classified as bearish. This defines the underlying direction, and from here we start to understand whether it makes sense to consider entries on ETH or if more patience is needed.

Closing Price D1: $2,894.5

EMA 20: $3,053.5

EMA 50: $3,107.15

EMA 200: $3,261.62

Significant distance below all three averages, with the fastest (20) exceeding the price by over $150. This indicates a market where every recovery attempt is absorbed before reaching the $3,050–3,100 area. Essentially, Ethereum’s real-time value is in a technical discount, but not yet in a zone where buyers are enforcing a true reversal.

Daily RSI (Strength/Weakness Sentiment)

RSI 14 D1: 39.15

The RSI is below the equilibrium threshold but not in oversold territory. This indicates structural weakness, not panic. Sellers are in control, but without those extreme extensions that often precede violent rebounds. For now, Ethereum’s trend is set to bearish, but without capitulation.

Daily MACD (Trend Breath)

MACD line: -52.32

Signal: -8.62

Histogram: -43.71

The MACD line remains well below the signal, and the histogram is widely negative. The message is of an ongoing bearish trend, with the selling phase not yet having exhausted its momentum. It is not a “confirmed bottom” structure, but rather one of continuation or consolidation downward.

Daily Bollinger Bands (Volatility and Extreme Levels)

Central Band (mid): $3,112.27

Upper Band: $3,433.81

Lower Band: $2,790.73

Current Price: $2,894.5

Ethereum is located in the lower part of the channel, just above the lower band. This indicates a price squeezed towards recent lows, with remaining space towards $2,790–2,800 before reaching a statistically extreme area. It is a zone where technical rebounds are often seen, but without confirmations, it is not an automatic “buy the dip”.

Daily ATR (Average Volatility)

ATR 14 D1: $135.89

An average daily volatility around $135 implies that movements of 4–5% in a session are perfectly normal on ETH. In practice, those watching the price must account for wide intraday swings: stops that are too tight risk being hit even in “normal” movements.

Daily Pivots on D1 (Control Levels)

Pivot Point (PP): $2,880.42

Resistance R1: $2,948.48

Support S1: $2,826.45

The price is slightly above the daily pivot. This means that, for now, buyers are defending the $2,870–2,880 range. As long as we stay above the PP, the market attempts a short-term rebound. However, a clear close below $2,880 would more easily open the way towards $2,830 and, in extension, towards the lower band at $2,790.

Ethereum Intraday Chart: H1 and M15 Show Attempt at Stabilization

While the daily remains bearish, the short term is trying to build a base. This is where the more tactical operation on the price takes place.

H1 Timeframe: Fragile Rebound in the $2,890–2,900 Area

Price H1: $2,894.25

EMA 20 H1: $2,882.3

EMA 50 H1: $2,906.93

EMA 200 H1: $3,021.97

RSI 14 H1: 51.73

MACD H1: line -6.61, signal -16.5, histogram +9.89

Bollinger mid H1: $2,866.67 (up $2,944.15, low $2,789.2)

ATR 14 H1: $30.05

Pivot H1: PP $2,900.27, R1 $2,907.54, S1 $2,886.98

The EMA 20 has been regained and is turning below the price, while the EMA 50 H1 is just above the quotes. The market is trying to transform the $2,880–2,890 area from resistance to support, but has not yet decisively surpassed $2,900–2,910, where the PP/R1/EMA 50 cluster passes.

RSI in the 52 area indicates a slightly favorable balance for buyers in the short term, consistent with the MACD histogram which has turned positive: after a phase of weakness, the hourly momentum is trying to turn upwards. It is not yet a strong trend, but an attempt at recovery within a still adverse daily context.

The Bollinger Bands on H1 show the price in the upper part of the channel, near the pivot R1. Moreover, as long as ETH remains above $2,886–2,890, the trend can remain in intraday rebound mode; a loss of this area would quickly bring the price back towards the central or lower part of the channel and reopen the risk of new daily lows.

M15 Timeframe: Short-Term Micro-Structure

Price M15: $2,894.26

EMA 20 M15: $2,888.97

EMA 50 M15: $2,875.94

EMA 200 M15: $2,904.45

RSI 14 M15: 56.21

MACD M15: line 13.1, signal 12.19, histogram 0.9

Bollinger mid M15: $2,886.09 (up $2,920.74, low $2,851.44)

ATR 14 M15: $13.31

Pivot M15: PP $2,900.27, R1 $2,907.55, S1 $2,886.99

On the 15-minute chart, ETH is building a small consolidation channel above $2,885–2,890. The EMA 20 and 50 run below the price and support it, while the EMA 200 at $2,904 represents the first real “step” to overcome to give continuity to the rebound.

RSI above 55 and slightly positive MACD indicate a short-term advantage for buyers, but the fact that the price is below the intraday pivot ($2,900) suggests that control is not yet complete. Moreover, until we see a stable break above $2,905–2,910, the risk is that every spike will be sold, especially in a generally cautious market context.

Market Sentiment and DeFi: Extreme Fear but Growing Activity

The Fear & Greed index is at 20 – Extreme Fear. Historically, these phases are ambiguous: they often coincide with accumulation areas in the medium term, but in the short term, they can still produce bearish accelerations, as every rebound is sold by the market’s more nervous component.

In the DeFi world, fees on protocols like Uniswap V3 and V4 are sharply increasing on a daily basis. This means that despite the perceived risk, the ecosystem continues to move and generate on-chain activity. For the long-term ETH chart, this is a positive signal of real usage, but in the very short term, it is not enough to reverse the bearish trend on the ETHUSDT pair.

Bullish Scenario on Ethereum: What It Takes for the Rebound to Become More

Currently, the main scenario remains bearish on D1, but a plausible bullish scenario exists if the market can consolidate above certain key thresholds.

Conditions for a Credible Bullish Scenario

Holding the $2,830–2,880 Support: this is the range that must not break. Defending this area would mean that buyers are starting to accumulate, despite the fear sentiment.

Break and Confirmation Above $2,950–3,000: here lies the first daily resistance (R1 $2,948) and the psychological threshold of $3,000. A stable daily close above $3,000 would change the market tone from “technical rebound” to “serious recovery attempt”.

Recovery of the Daily EMA 20 ($3,053) and Subsequently the EMA 50 ($3,107): bringing the price above these averages would transform the recent decline into a simple pullback within a broader trend, opening space to later test the $3,250–3,300 area (near the EMA 200).

Potential Bullish Targets (Step-by-Step):

First step: $2,950–3,000 (intraday and psychological resistance);

Second step: $3,050–3,100 (EMA 20/50 D1 area, first real test);

Next step: $3,250–3,300 (EMA 200 D1 and old congestion area).

Level of Invalidation for the Bullish Scenario: a daily close below $2,790–2,800 (lower Bollinger band) would significantly weaken the structural rebound scenario, opening the door to a deeper corrective extension.

Bearish Scenario on Ethereum: How Far the Correction Can Go

The scenario consistent with the daily indicators is still bearish. The market is in extreme fear, the MACD is negative, and the price is below all reference EMAs.

Conditions for a New Leg Down

Decisive Loss of the Daily Pivot $2,880: a return below $2,880 with intraday confirmation (H1 and M15 unable to rise again) would reopen space towards $2,830 (S1 daily).

Break of $2,830: here, buying orders are likely to arrive, but if demand is weak, the technical space up to $2,790 (lower BB band) would quickly open, aided by the relatively high ATR.

Extension Below $2,790: in this case, we would be talking about a downward exit from the Bollinger Bands, often associated with forced selling phases and panic selling. Not yet the “default case,” but a risk not to be underestimated if sentiment were to deteriorate further.

Potential Bearish Targets:

Zone $2,830–2,840 (S1 daily, first intermediate support);

Zone $2,780–2,800 (lower BB band, possible technical rebound area);

In case of breaking even this range, deeper levels would need to be reassessed, but here we would enter a stress scenario that is not yet confirmed by the data.

Level of Invalidation for the Short-Term Bearish Scenario: a daily close above $3,050–3,100 (EMA 20/50 D1) would significantly weaken the bearish narrative, transforming it at least into a neutral recovery phase.

How to Read Ethereum’s Price if You Want to Trade

The multi-timeframe picture is clear but not simple:

Daily: bearish direction, price below all EMAs, negative MACD, weak RSI. This advises against chasing rebounds as if they were the start of a new bull market.

H1: neutral phase with an attempt to recover above $2,886–2,890, improving momentum. It is the timeframe that today decides whether we will have a rebound day or a continuation of the decline.

M15: slightly bullish consolidation, useful for refining entries and exits but subject to many false signals, given the intraday ATR and extremely fragile sentiment.

For a trader, this context means one precise thing: key levels must be respected, and micro-rebounds should not be read as guaranteed reversals. The risk of false breakouts above $2,900–2,950 is high, as is the risk of fake breakdowns below $2,850 in the presence of stop hunting.

Those considering potential entries should clearly distinguish between:

Short-term Operations: exploiting the oscillation between $2,830 and $2,950 with reduced size and technical stops beyond the ATR (to avoid noise), accepting a directionally bearish context.

Slower Perspective (Swing): waiting for clear absorption signals on the daily, such as the stable recovery of $3,050–3,100, or alternatively, a more pronounced selling excess (much lower daily RSI) that offers a better risk/reward ratio in the $2,700–2,800 area, if reached.

The common thread remains one: Ethereum’s chart today shows a phase of pressure but also the first attempts at defense. In between, the margin for timing errors is high. That said, risk management and patience count more than any single signal.

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In the current market context, the price of Chainlink (LINK/USDT) is moving around $11.83, with a short-term rebound that, however, fits into a still weak structure on the daily chart.

General Context: Chainlink in Technical Recovery Within a Bearish Trend

Looking at the daily chart, the Chainlink price is below all major moving averages and near the lower Bollinger band. This indicates that the dominant force is still that of the sellers, but we are not in full panic: the market is slowing its descent and assessing whether the current level could become an area of defensive accumulation or just a pause before a new plunge.

Main Trend (D1): bearish, with price below EMA 20, 50, and 200.

Intermediate trend (H1): neutral, with the price attempting to stabilize around $11.8.

Operational context (15m): slight short-term bullish setup, rebound underway but without any key breakouts yet.

In other words, those looking at the Chainlink price chart today see an attempt at a base, but still within a phase where the risk of new lows is not at all excluded.

Daily (D1): the main trend remains bearish

Exponential Moving Averages (EMA)

– Price: $11.83
– EMA 20: $12.69
– EMA 50: $13.17
– EMA 200: $15.42

The three moving averages are all above the price and well spaced, with a typical order of a consolidated bearish phase (20 below the 50, 50 below the 200). The market is thus handling the Chainlink value with a clear medium-term negative setup.

What it implies: every rebound towards $12.5–13 risks being seen by traders as a selling opportunity until the price stabilizes at least around the 20 EMA zone. The underlying idea is that, for now, buyers are merely attempting to halt the decline, not to reverse the trend.

Daily RSI

– RSI 14: 37.1

The RSI is below 40 but not in extreme oversold territory. This indicates that the bearish pressure has been strong, but it is losing some intensity. However, there is still no clear signal of a complete exhaustion of sellers.

What it implies: the market perceives the LINK price today as weak, but not in a total sell-off. This leaves room for either a further slip or a more structured rebound if buyers enter en masse at these levels.

Daily MACD

– MACD line: -0.33
– Signal: -0.14
– Histogram: -0.19

The MACD remains in negative territory, with the histogram still below zero. We are not in a vertical collapse, but the momentum remains in favor of the bears. The moderate widening of the negative histogram indicates that the current recovery has not yet truly changed the tune on the daily chart.

What it implies: the Chainlink price today is attempting to rebound, but those observing the daily chart see a market still under the control of sellers. A true reversal signal would require a decisive approach of the MACD line towards zero, which is not yet visible.

Daily Bollinger Bands

– Middle band: $12.97
– Upper band: $14.45
– Lower band: $11.49
– Close: $11.83

The Chainlink price is trading at the lower end of the channel, just above the lower band. This suggests that the correction phase is advanced, but without a violent breakdown below $11.5.

What it implies: we are in a bearish pressure zone, but also in an area where technical rebounds often develop. If the price holds at $11.5–$11.6, it is plausible to see a rise towards the central average ($13). A clear break below the lower band would instead change the scenario into a more aggressive sell-off.

Daily ATR (Volatility)

– ATR 14: $0.62

The average daily volatility is around $0.6. We are neither in an explosive regime nor in a completely dormant market: the volatility is manageable but not negligible.

What it implies: for those considering real-time entries on Chainlink, a typical daily swing can easily move the price by about 5% at these levels. Risk management must take this into account: stops that are too tight are easily wiped out.

Daily Pivot Point

– Main Pivot (PP): $11.77
– Resistance R1: $12.02
– Support S1: $11.57

The price is currently slightly above the pivot ($11.83 vs $11.77), indicating a slight intraday advantage for buyers, but within an overall bearish context.

What it implies: as long as LINK remains above $11.77, the market may attempt extensions towards $12–$12.1. A drop below $11.57 would immediately highlight the risk of new lows and cast doubt on any recovery attempts.

H1: stabilization phase, with cautious rebound

Hourly Averages

– Price: $11.83
– EMA 20: $11.80
– EMA 50: $11.93
– EMA 200: $12.47

On the hourly chart, the price is just above the 20 EMA but still below the 50 EMA and, most importantly, well away from the 200 EMA.

What it implies: in the very short term, buyers are attempting to build a support base around $11.7–$11.8, but unless they reclaim at least $11.9–$12.0, the scenario remains closer to a pause in the decline rather than a true reversal.

Hourly RSI

– RSI 14 H1: 50.0

The hourly RSI is practically balanced, indicating that, at least on this timeframe, there is no longer a clear dominance of either buyers or sellers.

What it implies: the short term remains neutral: there is room for either an extension of the rebound or a new test of the lows, depending on how the support areas are defended throughout the day.

Hourly MACD

– MACD line: -0.04
– Signal: -0.08
– Histogram: +0.04

The hourly MACD is slowly turning upwards, with the histogram slightly positive again.

What it implies: in the very short term, there is an attempt at recovery, consistent with the rebound from the lows. It is not a strong trend signal, but it indicates that the selling pressure is easing compared to previous hours.

Bollinger Bands H1

– Middle band: $11.72
– Upper band: $12.05
– Lower band: $11.39
– Price: $11.83

The price is in the upper half of the hourly channel, but still far from the upper limit.

What it implies: there is technical room for an extension towards $12 without the market immediately entering an overbought zone. However, a failure to approach the $11.95–12.05 area in the coming hours would indicate weakness in the rebound.

Hourly ATR and Intraday Pivot

– ATR 14 H1: $0.12
– Pivot H1: $11.84
– Resistance R1: $11.87
– Support S1: $11.81

The hourly ATR indicates average movements around $0.12 per candle. The price is stuck at the pivot, between S1 and R1.

What it implies: the market is narrowing the range in the short term. A breakout above $11.87 with volume could push the price towards the $11.95–12.0 area, while a drop below $11.81 would quickly bring recent lows back into focus.

15 minutes: micro-rebound structure, but still fragile

15m Averages

– Price: $11.83
– EMA 20: $11.82
– EMA 50: $11.77
– EMA 200: $11.93

On the 15m, the price moves above the 20 and 50 EMA, but remains below the 200.

What it implies: the operational context shows a confirmed very short-term rebound, but still framed within an underlying bearish structure. For those engaged in scalping, the 11.75–11.80$ range is the first area to monitor as dynamic support.

RSI 15m

– RSI 14 15m: 54.3

The 15-minute RSI is slightly above the equilibrium level, indicating a slight predominance of buyers, but without excesses.

What it implies: in the short term, longs have a slight advantage, but there is still no sign of euphoria or overheating in the movement.

MACD 15m

– MACD line: 0.04
– Signal: 0.04
– Histogram: 0

MACD and signal almost overlapping, flat histogram.

What it implies: the market is deciding the next move on this timeframe: we are in a pause phase after the rebound, waiting for one of the two sides (buyers or sellers) to push more decisively.

15m Bollinger Bands and Pivot

– Middle band: $11.82
– Upper band: $11.91
– Lower band: $11.73
– Pivot 15m: $11.84 (same H1 cluster)
– R1: $11.87
– S1: $11.81

The price is moving close to the median band and the pivot, within a relatively narrow channel.

What it implies: for the real-time Chainlink price, a breakout of the upper band around $11.9 accompanied by volume would be the first credible signal of intraday strength. Conversely, a break below $11.73 would complicate the rebound scenario and reopen the path towards $11.6.

Bullish Scenario for Chainlink: What Buyers Need

To discuss a plausible bull scenario for Chainlink’s price today, a sequence of confirmations across multiple timeframes is needed, not a single spike.

Triggers and Potential Targets

Maintain the support at $11.6–$11.7 on the daily chart, ideally with closes above the pivot $11.77.

Break and hold of $12.0–$12.1, which coincides with the first intraday resistance band (R1 H1 zone plus approach to EMA 50 H1).

Extension towards $12.5–$12.7, where the daily EMA 20 ($12.69) is located. Here, a strong reaction from sellers can be expected.

In the event of a decisive break above $13 (daily EMA 50 area), the market would begin to question the medium-term bearish narrative.

Levels that strengthen the bull scenario:

Consistent hourly closes above $11.95–12.0.

Daily RSI climbing above 45–50, indicating a return of relative strength.

MACD H1 consolidating in the positive area, showing momentum in favor of buyers.

Invalidation of the bullish scenario:
A daily close below $11.50 (lower Bollinger band area) would significantly weaken the idea of a constructive rebound and shift the scenario towards a bearish continuation, with possible extensions towards previous lows (around $11 and, in case of a worsening crypto market, even lower).

Bearish Scenario on Chainlink: Continuation of the Downward Trend

The bearish scenario currently remains the primary one on the daily chart, as long as LINK stays below the key moving averages.

How It Might Develop

The price fails to consolidate above the $11.77 pivot and is repeatedly rejected between $11.9 and $12.0.

Break of $11.57 (S1 daily) with an increase in selling volumes.

Acceleration towards $11.0–$11.1, which would become the next price cluster to monitor for potential reactions.

In the event of a further deterioration in the overall crypto sentiment, already influenced by a Fear & Greed index at 20 – Extreme Fear, possible extensions even below $11, with increasing volatility.

Elements that reinforce the bear scenario:

Daily RSI that remains below 40 or slides towards 30 without significant rebounds.

Daily MACD further expands the negative area, indicating a return of momentum in favor of the sellers.

Price continues to operate below the daily 20 EMA without ever testing it credibly.

Invalidation of the bearish scenario:
A convincing daily close above $13, accompanied by volume, would be the first true signal that the market is seeking not just a rebound but a trend revision. In that case, the narrative would shift from “selling the rallies” to “buying the dips” on higher timeframes.

How to Interpret the Current Context of Chainlink’s Price

The overall picture is that of an underlying bearish trend experiencing a stabilization phase. The daily remains heavy, while H1 and 15m show a rebound in progress, but still yet to be confirmed.

For those observing the Chainlink price from an operational perspective:

The main risk is being misled by intraday micro-bounces that do not alter the daily picture: the classic “dead cat bounce”.

Aggressive long entries here are betting on the support of the $11.5–$11.7 area, but must accept the real possibility of being stopped by a further bearish leg.

Those considering the medium term still tend to favor selling on rebounds towards $12.5–13, as long as the price remains below the main averages.

In a context of Extreme Fear in the crypto market, it’s easy to see false signals: sudden rebounds, short-term breakouts that don’t find confirmation on the daily, or volatility spikes that hit stops both above and below key levels.

Those who follow the Chainlink price in euros or other currencies should keep in mind that the technical structure described in dollars remains the primary reference: changing the currency alters the scale, but the significance of the technical levels on the chart remains essentially the same.

In operational summary, the market for LINK is still oriented towards a medium-term bearish trend, with a rebound under construction in the short term. Until we see closures above $12.5–$13 with improving indicators, the current phase should be interpreted more as managing the decline rather than a true restart.

Disclaimer: The information in this article is for informational purposes only and does not constitute financial advice or an invitation to invest. Trading in cryptocurrencies involves a high level of risk and may not be suitable for all investors. Everyone should carefully assess their financial goals and risk tolerance before engaging in the markets.

After several pivots and intense experimentation, the team behind entropy crypto shutdown has decided to close the company and return money to backers.

Entropy winds down after failed search for a scalable model

Crypto startup Entropy, backed by prominent investor A16z, is shutting down operations after it failed to develop a business model that was, in its own words, “venture scale.” The firm will return all funds to investors as part of the wind-down. Moreover, the move underscores the pressure facing early-stage crypto ventures in 2025.

Founder and CEO Tux Pacific, who launched Entropy in late 2021, said the team had exhausted viable strategic options and no longer saw a credible path forward. However, Pacific emphasized that investors would be made whole as capital is distributed back.

From decentralized custody to crypto automation

Entropy initially positioned itself as a decentralized custody platform, with backing from Andreessen Horowitz, Coinbase Ventures, and Dragonfly Capital. Dragonfly led a $25 million seed funding round in 2022, signaling high expectations for the project. However, those expectations did not translate into a sustainable commercial model.

According to Pacific, the company experimented with multiple directions over roughly four years before focusing on crypto automation. Over the second half of 2025, the team developed a crypto automations platform that integrated artificial intelligence and aimed to serve as a decentralized alternative to mainstream workflow tools like Zapier.

That said, an initial market feedback process quickly raised red flags. As Pacific explained, the “initial feedback request revealed that the business model wasn’t venture scale,” which effectively closed off the route to building a large, independent company. This realization led directly to the decision on the entropy crypto shutdown and the process to return capital.

Founder steps away from the crypto sector

Pacific described the endgame as a stark personal choice. “I was left with the choice to find a creative way forward or pivot once more,” Pacific said, reflecting on the startup’s journey. After what Pacific called “four hard years working in crypto,” the conclusion was that the team’s best work had already been done.

Moreover, Pacific indicated that it was “time to close up shop” rather than attempt another pivot in an unforgiving market. In parallel with the wind-down, the Entropy founder has decided to exit the crypto space altogether and begin exploring new opportunities in the pharmaceuticals sector.

A difficult year of shutdowns for crypto projects

The closure of Entropy adds to a broader string of failures that has swept across the digital asset ecosystem in 2025. The project joins a cohort of ventures unable to align ambitious technology with sustainable economics. However, this pattern is not limited to infrastructure startups.

In March 2025, Linear Finance, a protocol backed by NGC Ventures, also shut down after prolonged financial strain. A sudden delisting from Binance further undermined its ability to operate, ultimately rendering the project unsustainable and forcing its closure.

Web3 gaming projects also under pressure

The Web3 gaming sector has been hit just as hard. Across the blockchain-based gaming landscape, Ember Sword, an Ethereum-based massively multiplayer online role-playing game, shut down only a few months after launching its early access version. Moreover, its downfall came despite early attention and the broader buzz around Web3 games.

Ember Sword joined other high-profile closures, including Deadrop, Nyan Heroes, and Tatsumeeko, among others. These titles struggled with a brutal funding environment and chronically weak user engagement, which proved difficult to overcome even with strong branding and ambitious roadmaps.

What Entropy’s closure signals for venture-backed crypto

Entropy’s experience highlights a key tension in venture-backed crypto: cutting-edge technology alone is not enough if the underlying business model cannot reach the scale investors expect. However, the decision to return investor capital in full stands out in a sector where many projects dissolve with limited accountability.

The series of shutdowns in 2025 reflects a market resetting expectations after years of easy funding. For founders like Tux Pacific, the end of Entropy marks both a professional turning point and a broader sign that only the most robust crypto models are likely to survive the current cycle.

In summary, Entropy’s wind-down, the pivot struggles, and the broader wave of project closures in 2025 illustrate how venture-driven crypto experiments are being stress-tested by real-world market demands.

Market conditions are tense as the Bitcoin crypto price grinds lower, with BTCUSDT sitting below major resistance while sentiment plunges into Extreme Fear territory.

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

Daily chart (D1): Primary bias is bearish

The main scenario here is bearish based on the daily timeframe.

Trend structure – EMAs

• Daily close: $87,780.61
• EMA 20: $90,554.20
• EMA 50: $91,471.55
• EMA 200: $98,481.39

Price is trading below all three EMAs, with a clear downside stack (price < EMA20 < EMA50 < EMA200) and the system regime explicitly flagged as bearish. That is textbook downtrend behavior. Moreover, rallies into the 20–50 EMA band near $90.5k–$91.5k are, by default, sell zones unless proven otherwise. Bulls are currently playing defense, not offense.

Momentum – RSI (14)

• Daily RSI 14: 40.22

RSI is below 50 but not yet oversold. That is typical for a controlled downtrend, not a panic flush. There is still room for BTC to drop further before genuine oversold conditions kick in. In other words, the market is weak, but it has not capitulated. Sellers still have gas in the tank if something triggers a risk-off shove.

Momentum – MACD

• MACD line: -671.47
• Signal line: 91.82
• Histogram: -763.29

The MACD line is deeply negative and well below the signal, with a large negative histogram. That reflects strong, entrenched downside momentum on the daily. There is no sign yet of a proper bullish crossover or even a convincing slowdown in the downside impulse. Any bounce from here would still be trading against a heavy higher-timeframe trend.

Volatility and range – Bollinger Bands & ATR

• BB mid (20-period basis): $91,580.60
• BB upper: $97,290.12
• BB lower: $85,871.08
• ATR(14): $2,534.37

Price is sitting in the lower half of the band, not hugging the extreme but clearly below the midline. That aligns with a steady grind lower rather than a volatility blow-off. With daily ATR around $2.5k, the market is still moving, but this is moderate volatility by Bitcoin standards. There is enough room for meaningful intraday swings, but not a disorderly crash regime.

The lower band near $85.9k is your immediate downside reference. A clean daily close below that band would signal a transition from controlled selling into a more aggressive leg down. Conversely, reclaiming the mid-band around $91.6k would be the first technical sign that bears are losing grip.

Short-term levels – Daily pivots

• Pivot (PP): $87,571.56
• R1: $88,633.50
• S1: $86,718.68

Spot is hovering basically on top of the daily pivot. That is classic indecision right on fair value for the session. R1 around $88.6k is the first hurdle for any intraday bounce. Meanwhile, S1 at $86.7k is the first line of defense for bulls. Repeated failure at R1 would reinforce the bearish daily bias, while repeated tests of S1 raise the odds of a break lower.

Hourly chart (H1): Neutral pause inside a broader downtrend

On the 1-hour, the system flags a neutral regime, which is exactly what you would expect after a strong daily selloff trying to stabilize.

Trend structure – EMAs

• H1 close: $87,814.53
• EMA 20: $87,760.64
• EMA 50: $88,295.81
• EMA 200: $90,336.41

Price is aligned with the 20 EMA and slightly below the 50 and 200. That is a short-term balance zone; the market is catching its breath. The 50 EMA at about $88.3k and 200 EMA at roughly $90.3k are the key intraday supply layers. Bulls need to chew through those to turn this into a sustained rebound. Otherwise, every test of those levels risks becoming another lower high.

Momentum – RSI (14)

• H1 RSI 14: 48.68

Hourly RSI is essentially neutral. Momentum on this timeframe is neither stretched nor directional, which matches the idea of a consolidation after prior selling. There is no strong edge here for either side based solely on H1 RSI.

Momentum – MACD

• MACD line: -170.03
• Signal line: -324.13
• Histogram: +154.10

The MACD line is still below zero, but it has crossed above the signal with a positive histogram. That is a mild bullish inflection within a broader negative regime, consistent with a relief bounce or base-building attempt, not a confirmed trend reversal. It shows that intraday selling pressure has cooled, but the higher-timeframe bears are still in control.

Volatility and range – Bollinger Bands & ATR

• BB mid: $87,507.31
• BB upper: $88,813.24
• BB lower: $86,201.38
• ATR(14): $542.66

Price is trading close to the mid-band with an hourly ATR around $540. That signals a contained consolidation: there is intraday two-way trade, but no breakout. The upper band near $88.8k and lower band around $86.2k outline the immediate short-term battle zone. A push to the upper band would fit a short-term squeeze, while a drop back toward the lower band would mean bears are stepping back in.

Intraday reference – Hourly pivots

• Pivot (PP): $87,850.59
• R1: $87,963.94
• S1: $87,701.17

BTC is trading almost exactly on the H1 pivot, reinforcing the idea of a market in wait-and-see mode. As long as price chops around this pivot, you are in noise territory. A sustained hold above R1 would confirm intraday buyers have the upper hand, while consistent trading below S1 would swing the bias back to sellers.

15-minute chart (M15): Micro structure for execution

The 15-minute data is about execution context, not the bigger picture.

Trend structure – EMAs

• M15 close: $87,814.29
• EMA 20: $87,847.36
• EMA 50: $87,680.34
• EMA 200: $88,300.06

On M15, price is sandwiched between the short EMAs and below the 200 EMA. That is a very local chop zone inside a larger downtrend. Short-term, the market is balancing. Structurally, it is still below a key intraday trend gauge, the 200 EMA near $88.3k.

Momentum – RSI (14)

• M15 RSI 14: 51.08

RSI is basically flat around 50, which confirms micro-level neutrality. This is not a momentum edge environment. Execution here is more about levels and liquidity than momentum extremes.

Momentum – MACD

• MACD line: 139.79
• Signal line: 163.26
• Histogram: -23.47

MACD is slightly positive but sitting under its signal line with a tiny negative histogram. That is hesitant, fading upside momentum, compatible with a minor pause or topping attempt intra-bar rather than a strong thrust either way.

Volatility and range – Bollinger Bands & ATR

• BB mid: $87,893.48
• BB upper: $88,132.20
• BB lower: $87,654.77
• ATR(14): $234.11

M15 bands are tight, and ATR is just over $230. That is compressed short-term volatility, often a prelude to a small expansion move. For scalpers, that matters; for the higher-timeframe view, it just confirms a local equilibrium zone.

Very short-term pivots

• Pivot (PP): $87,850.51
• R1: $87,963.78
• S1: $87,701.01

Price is oscillating around the M15 pivot almost tick-for-tick. That is what you typically see when the market is waiting for new information or larger players to step in.

Market context: Fear is high, but BTC still dominates

The broader crypto data paints a consistent picture.

• BTC dominance at about 57.5% tells you Bitcoin remains the market’s base asset and is outperforming the average alt even in weakness.
• Total crypto market cap is around $3.05T, down about 0.8% in 24h, while 24h volume is up over 120%. That combination, a small net price drop with a big jump in volume, usually reflects aggressive repositioning and heightened two-way trade rather than a calm drift.
• The Fear & Greed Index at 20 (Extreme Fear) says sentiment is washed out. Historically, extreme fear often appears closer to late in down-moves, but it does not guarantee an immediate bottom. It does mean that marginal selling pressure could be from forced or emotional flows, which is where sharp reversals can eventually arise.

Overlay this with DeFi fee spikes, with Uniswap V3 and other DEXs showing large 1-day fee jumps, and you are looking at a market that is actively trading volatility, not quietly trending. That environment can cut both ways for Bitcoin. Strong reflex rallies and ugly downside follow-through are both on the table.

Bullish scenario for Bitcoin

For a credible bullish case from here, BTC needs to turn this intraday stalling into something more structural. The primary element is whether the Bitcoin crypto price can defend key supports and reclaim moving averages.

1. Hold above $86.7k–$87k
This zone, daily S1 and just above the lower daily Bollinger Band, is the first must-hold area. As long as BTC defends this pocket on daily closes, the market can frame the current move as a controlled pullback rather than an accelerating breakdown.

2. Reclaim the short EMAs on D1
Bulls need to push price back above the $90.5k–$91.5k band, daily EMA20 and EMA50, and hold there. That would signal the down-swing is losing dominance and the market is willing to pay up for Bitcoin again. It would not instantly flip the whole structure to bullish, but it would turn the daily picture from “sell the rip” to “two-way” at minimum.

3. MACD and RSI follow-through
On the daily, you would want to see RSI crawl back toward and above 50 and the MACD histogram start contracting, less negative, as price recovers. That would confirm that momentum is genuinely turning, not just short-squeezing.

Upside targets in a bullish scenario would be:

• First, the BB mid and EMA cluster around $91.5k–$92k.
• Next, the $97k–$98.5k zone, where the upper Bollinger Band and the 200-day EMA roughly reside. That is the bigger resistance band where medium-term sellers are likely waiting.

This bullish scenario is invalidated if BTC loses the $85.9k–$86.7k area on a daily closing basis and starts walking the lower Bollinger Band downward. That would signal that the pullback is not done and that bears are still firmly in charge.

Bearish scenario for Bitcoin

The bears currently have the higher-timeframe edge. The key for them is to prevent any sustained reclaim of the daily EMA cluster.

1. Fail lower at $88.5k–$91.5k
If rallies toward H1 resistance, $88.5k–$88.8k, and the daily EMA20 and EMA50 band, around $90.5k–$91.5k, keep getting sold, that confirms the market is in sell-the-bounce mode. The current H1 and M15 neutrality would then just be a consolidation before another leg down.

2. Break below the lower daily band
A decisive move and close under the lower Bollinger Band near $85.9k, especially accompanied by a pickup in ATR and a still-negative MACD histogram, would open the door for a trend-acceleration phase. With daily RSI not yet oversold, there is room for that kind of move.

3. Sentiment capitulation without reversal
With the Fear & Greed index already in Extreme Fear, a further drop that fails to quickly bounce would imply genuine capitulation, not just a quick stop run. In that environment, levels can overshoot and liquidity can thin, amplifying moves.

Downside zones in a bearish extension from here:

• Immediate: the $85k–$86k pocket just below the current lower band.
• Beyond that, the next logical targets would be prior structural supports from earlier swings, not in this dataset, but given current ATR, a $5k–$7k extension over a few sessions would not be extreme.

This bearish scenario is weakened if BTC can reclaim and hold above the $90.5k–$91.5k area on daily closes, with daily MACD momentum flattening and RSI heading back above 50. At that point, you would no longer be dealing with a clean downtrend. You would be trading a range or the early stages of a trend reversal.

Where the timeframes disagree – and what it means

There is a clear tension in the chart stack.

• Daily: firmly bearish, with price below all major EMAs, weak RSI, and negative MACD.
• Hourly: neutral with a mild bullish MACD cross, a pause and potential early bounce inside that downtrend.
• 15-minute: neutral to slightly tired on the upside, micro chop.

This mismatch is important for traders.

• If you are trading the trend, the daily still says the path of least resistance is down. Rallies toward the EMA cluster and upper intraday bands are suspect until proven otherwise.
• If you are trading mean reversion, the combination of Extreme Fear, strong daily selloff, and intraday stabilization offers a window for short-term counter-trend longs. However, the burden of proof is on the bulls to reclaim levels, not just bounce a few hundred dollars.

Positioning, risk, and uncertainty

BTCUSDT is at a point where the long-term trend and short-term structure are at odds. The higher timeframe still leans bearish, but the market is no longer in straight-line liquidation. Instead, it is probing for where real demand comes in.

Two practical implications stand out.

• Volatility is active, not explosive. Daily ATR around $2.5k and hourly ATR around $540 mean ranges are wide enough to matter for sizing and stops, but this is not a blow-off environment yet. A break of the lower daily band with rising ATR would change that.
• Conviction should match timeframe. Trend traders will treat bounces into $88.5k–$91.5k as potential entries or add-zones on the short side unless daily structure meaningfully improves. Short-term traders can work the intraday ranges, but they are trading against a bearish macro backdrop and need to be ruthless with risk management.

Regardless of bias, this is not a spot to ignore risk. Sentiment is fragile, liquidity is moving, and extreme fear can evolve into either a sharp rebound or a deeper flush. Position size, leverage, and clear invalidation levels matter more here than trying to be right at the exact turning point.

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This article is a market commentary and expresses a technical view on the Bitcoin crypto price based on the data provided. It is not investment advice or a recommendation to buy or sell any asset. Cryptoassets are highly volatile and can result in total loss of capital. Always conduct your own research and consider your risk tolerance before making any trading decisions.