Anthropic has agreed to a deal to use all of the compute capacity at SpaceX’s Colossus 1 data center in Tennessee.
The partnership will enable the company to gain access to more than 300 megawatts of new capacity produced by more than 220,000 Nvidia GPUs.
And it will result in changes, Anthropic said, that will improve the experience of using its Claude AI model for its biggest customers.
First, Anthropic doubled Claude Code’s five-hour usage window limits for Pro, Max, Team and Enterprise subscribers.
In addition, the vendor removed the peak-hour limit reduction for Claude Code on Pro and Max accounts.
And Anthropic raised API rates for Claude Opus models. These changes were detailed in a table published with a blog post about the compute deal with SpaceX.
Anthropic has been public in its need to acquire more capacity for Claude, and the SpaceX tie-up is the latest in a series of deals designed to address this, with the company acknowledging in April that “unprecedented consumer growth, in particular, has impacted reliability and performance for free, Pro, Max, and Team users.”
Related:OpenAI Launches Training Spec to Boost Large-Scale AI
These deals include securing of up to 5 gigawatts from Amazon, with 1 gigawatt expected to be available by the end of the year. This followed an agreement for 5 gigawatts from Google and Broadcom, which is slated to start coming online next year.
Anthropic also forged a strategic partnership with Nvidia and Microsoft for $30 billion of Azure capacity and invested $50 billion in U.S. infrastructure with Fluidstack.
Nevertheless, the deal with SpaceX might be unusual, given that the company’s biggest shareholder, Elon Musk, said that Anthropic “hates Western civilization” following SpaceX’s dispute with the Trump administration earlier this year.
However, Musk struck a more conciliatory tone this week on his X social platform.
But the deal could also raise questions about the ability of Musk’s own xAI company, which merged with SpaceX earlier this year, to compete with Anthropic.
Anthropic, meanwhile, said it will continue to investigate opportunities to bring additional capacity online and expressed interest in partnering with SpaceX to develop space-based orbiting AI data centers.
Musk has long been an advocate of data centers in space.
Bitcoin (BTC) reserves on major crypto exchanges have dropped to their lowest level since 2023, with nearly 100,000 BTC withdrawn from Binance, OKX and Gemini in less than three months.
The outflows coincided with stronger demand from accumulator addresses, as the cohorts’ holdings have increased by 60.5% over the past two weeks.
Bitcoin exchange reserves fall to two-year low
Crypto analyst Amr Taha noted that Bitcoin reserves on Binance, OKX and Gemini have declined sharply since February. Binance recorded the largest drawdown, with reserves dropping to nearly 620,000 BTC on May 7, down from roughly 670,000 BTC on Feb. 21. The decline pushed Binance’s holdings below levels last seen in December 2023.
OKX followed the same trend. Its Bitcoin reserve fell to around 102,000 BTC this week, from nearly 132,000 BTC on March 2. Gemini also posted steady outflows, sliding to 95,000 BTC from 114,800 BTC in early February.
BTC multi-exchange reserves. Source: CryptoQuant
Combined, the three exchanges recorded an outflow of nearly 100,000 BTC, valued at over $8 billion at current prices.
Taha noted that a synchronized decline across multiple exchanges carries more weight than isolated outflows from a single exchange. Fewer coins on trading platforms can amplify the price reaction when strong spot demand returns.
The move coincides with a shrinking OTC balance. Lower OTC balances can reduce the amount of Bitcoin available for large private transactions outside exchanges.
The latest 30-day OTC balance change showed a net decline of 24,940 BTC, while the same metric had risen to nearly 25,300 BTC on Feb. 8 after Bitcoin’s drop toward $60,000. The reversal shows that OTC supply inflows have slowed significantly since the February sell-off.
Bitcoin total OTC desk balance. Source: CryptoQuant
Related: Bitcoin Bollinger Bands push key breakout as creator acts on positive signal
“Accumulator” demand rises as Binance buyers turn positive
Long-term participants increased their Bitcoin accumulation during the latest recovery phase. CryptoQuant data shows demand from accumulator addresses climbed to 264,000 BTC on May 6, up from 164,440 BTC on April 23. The same metric fell to nearly 100,000 BTC on March 15, after peaking above 205,000 BTC on Feb. 5.
Bitcoin demand from accumulator addresses. Source: CryptoQuant
The increase in accumulation coincided with Bitcoin’s recovery toward $82,800, indicating stronger buying activity by long-term holders during the recent price advance.
Derivatives activity also strengthened during the recent rally. Binance’s seven-day net taker volume moved from approximately -$1 billion (seller-dominated) in late March to +$2.63 billion (buyer-dominated) on Thursday.
Binance’s seven-day net taker volume for BTC. Source: CryptoQuant
Related: VanEck’s Sigel sees Bitcoin reaching $1M within five years
This article is produced in accordance with Cointelegraph’s Editorial Policy and is intended for informational purposes only. It does not constitute investment advice or recommendations. All investments and trades carry risk; readers are encouraged to conduct independent research.
What have been the developments of the fintech, digital and wider economic development that is driving the economy and society of the African nation of Mauritius?
Mauritius has long positioned itself differently from many African peers. Rather than scale, it has pursued sophistication – building a reputation as a financial services hub bridging Africa and global capital. As noted in previous research I’ve written before, Mauritius’s fintech ecosystem was already relatively advanced, underpinned by a strong offshore financial sector, regulatory clarity, and international connectivity. Today, that positioning has sharpened further, with Mauritius increasingly competing not just regionally, but globally, as a gateway for fintech, digital assets, and cross-border finance.
The macroeconomic context remains a key anchor. It has a population of over 1.27 million people. Mauritius’s economy is estimated at approximately $16 billion gross domestic product (GDP), with a GDP per capita of around $12,000. It is one of the highest in Africa and reflects its upper-middle-income status.
Unlike many African economies, Mauritius is highly diversified, with financial services, tourism, ICT, and manufacturing all playing central roles. Port Louis remains the financial hub, home to major institutions such as Mauritius Commercial Bank (MCB), one of the largest and most technologically advanced banks in the region.
Mauritius and its strong fintech ecosystem
Exposure of Port Louis at Sunrise, taken from a Cruise Ship, showing the city center and the port, hub port on the Indian Ocean island of Mauritius IMAGE SOURCE GETTY
That economic structure has enabled Mauritius to develop one of Africa’s more mature fintech ecosystems. It was even ranked high as a higher-end tier-two fintech hub in the African continent per my previous study. At present, the country is estimated to host around 100 fintech-related firms spanning payments, wealth management, regtech, and digital assets.
Unlike many emerging markets such as its African peers, the ecosystem is not dominated solely by mobile money, but by a broader mix of financial infrastructure providers, cross-border platforms, and digital asset firms. This reflects Mauritius’s role as an international financial centre. Examples include: Flash, offering app-based money management and wallet services; Limit Markets, a versatile multi-asset trading platform; and Learnleapology, an innovative online investment trading platform.
The sector’s most visible catalyst is the Mauritius African Fintech Hub (MAFH). Officially registered as the Mauritius Fintech Association, MAFH was launched in 2018 with the objective to promote Mauritius as the fintech innovation hub for the African continent.
What has evolved most significantly, between 2024 when I last researched about the island nation and 2026, is not just the number of firms, but the regulatory architecture supporting them. The Financial Services Commission (FSC) has introduced new frameworks to streamline fintech licensing and improve clarity around digital assets, including the 2026 Known to the Commission (KTC) initiative designed to attract international players while maintaining regulatory oversight. This reflects a deliberate strategy: to position Mauritius alongside jurisdictions such as neighbouring Dubai and Singapore in the global fintech landscape.
At the same time, domestic digital financial infrastructure has continued to deepen. The Mauritius Central Automated Switch (MauCAS) and its Instant Payment System have seen growing adoption, enabling real-time, 24/7 transfers across banks and non-banks. Last year, digital payments through MauCAS had expanded rapidly, with some sectors seeing usage rise to around 18 per cent, signaling a meaningful shift towards instant, interoperable payments. This places Mauritius among the more advanced payment ecosystems on the continent.
The Central Bank of Mauritius (BoM) has played a pivotal role in enabling this transition. Between 2024 and 2026, the central bank has focused on strengthening payment infrastructure, enhancing regulatory frameworks for fintech and digital banking, and supporting innovation through controlled regulatory environments. While open banking is still evolving, there is increasing movement towards data-sharing frameworks and API-driven financial services, aligning Mauritius with broader global trends.
Financial inclusion in Mauritius is relatively high compared to many African markets. Estimates suggest that over 90 per cent of adults now have access to formal financial services, supported by strong banking penetration and digital infrastructure. The challenge is less about access and more about deepening usage. This is notable with small and medium enterprises (SMEs) and underserved segments where fintech solutions can still play a transformative role.
Boost towards wider digital inclusion in Mauritius
Beyond financial services, Mauritius’s broader digital transformation agenda has accelerated. This year, the government launched a National Artificial Intelligence Strategy alongside FAIR (Fairness, Accountability, Inclusiveness and Responsibility) guidelines, aimed at building an ethical and innovation-driven digital economy. This reflects a wider ambition: to position Mauritius not just as a financial hub, but as a knowledge and technology-driven economy.
Institutionally, Mauritius benefits from a more developed ecosystem than many peers. The Economic Development Board (EDB), fintech-focused conferences, and industry initiatives continue to play a catalytic role in attracting investment and fostering collaboration. Events such as the 2026 Fintech Conference on Payments, FX, and Digital Assets highlight the country’s growing prominence as a convening hub for fintech dialogue.
Yet, challenges remain. Mauritius’s relatively small domestic market limits scale, meaning that many fintech firms must adopt international or cross-border business models from the outset. Additionally, global competition among financial centres is intensifying, requiring continuous regulatory innovation and talent development to maintain competitiveness.
Nonetheless, Mauritius represents a distinct model within Africa’s fintech landscape. It is one built not on scale, but on connectivity, credibility, and strategic positioning. Today, Mauritius’s fintech ecosystem is no longer simply emerging. It is positioning itself as a bridge. It is linking African growth opportunities with global capital and digital innovation. The next phase will depend on sustaining innovation, attracting global talent, and ensuring that its ecosystem continues to evolve in an increasingly competitive international landscape.
The CLARITY crypto market structure bill could see a markup in the US Senate Banking Committee as early as next week, according to Kara Calvert, the vice president of US policy at crypto exchange Coinbase.
“My prediction is that we have a markup next week,” Calvert told the audience at the Consensus 2026 crypto industry conference in Miami, Florida.
She said that the bill needs at least 60 votes to pass in the Senate and that the CLARITY bill needs bipartisan support to become law. She said:
“That means you need Democrats. You need a bipartisan bill, and we have all been working really hard to make sure that bipartisanship holds. I think the big question is, how do these votes shape up over the next few days?”
Kara Calvert, pictured on the left, provides an update on the CLARITY market structure bill. Source: Consensus 2026
A HarrisX survey on Thursday revealed that there is strong, broad-based and consistent demand for clear federal rules. A 70% majority of voters say the US should already have passed clear cryptocurrency legislation, and 62% say it is important that the US set the global rules for digital finance.
The CLARITY bill stalled in January after Coinbase withdrew its support for the legislation, citing several concerns, including a lack of legal protections for open source software developers, a prohibition on stablecoin yield, and decentralized finance (DeFi) regulations.
Related: US senator says crypto market structure vote may happen by August
Coherent tax policy remains a barrier to institutional adoption
A lack of coherent tax policies is the main “barrier” to institutional crypto adoption, Calvert said, adding that tax reform is a bigger issue for institutions than market structure legislation.
Many of these institutions just want to buy and hold cryptocurrencies or trade digital assets, but are burdened by tax compliance and reporting requirements, she said.
A HarrisX poll shows there is broad bipartisan support for passage of the CLARITY Act. Source: HarrisX
Tax reporting requirements under the current regulations mean the Internal Revenue Service (IRS) forces crypto exchanges to document every crypto transaction using 1099-DA forms, she added.
“We’re sending out millions of 1099-DA’s for things like $1 transactions — that makes zero sense,” Calvert said.
She added that she “hopes” tax reform legislation can advance through Congress in 2026, citing several crypto tax proposals submitted by US lawmakers, including the Digital Asset PARITY Act, introduced by Representatives Max Miller and Steven Horsford in March.
“I think that we will see action in the Senate. I think we will see legislation, probably in the next month or two, in the House,” she said.
Magazine: Will the CLARITY Act be good — or bad — for DeFi?
Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.
Jack Dorsey’s payments firm Block rose 7.9% in after-hours trading as its Q1 earnings surpassed analyst estimates, despite posting its first loss in three years.
Block came out with quarterly earnings of 85 cents per share, beating the Zacks consensus estimate of 68 cents per share. Investors responded positively, driving Block shares to $75.70 after hours, Google Finance data shows.
“This quarterly report represents an earnings surprise of +25.68%,” said Zacks Equity Research on Thursday. “Over the last four quarters, the company has surpassed consensus EPS estimates two times.”
Expanding Bitcoin’s use into the payments space has been a key area of focus for Dorsey, who previously argued that widespread payment adoption is needed to fulfill Satoshi Nakamoto’s original vision of Bitcoin as a peer-to-peer electronic cash system. In late April, Block noted that over 800,000 US-based merchants have enabled Bitcoin transactions for everyday purchases.
Block reports first quarterly loss in three years
The earnings beat came despite Block reporting its first quarterly loss since 2023, driven by a 23.8% drop in the price of Bitcoin over the three-month period.
Q1 net loss was $309 million, which included a $172.8 million Bitcoin remeasurement loss on the 8,883 Bitcoin it held as of March 31.
Bitcoin revenue from Cash App and other Block products fell to $1.8 billion from $2.33 billion a year ago.
Block attributed the fall to “Bitcoin trading dynamics” and a “strategic decision to reduce the fee” charged on certain Bitcoin transactions on Cash App.
Block’s gross profit rises 27% in Q1
Block’s Q1 gross profit — net sales minus cost of goods sold — reached $2.9 billion, up 27% from a year earlier.
Bitcoin payments in Cash App contributed $63 million to Block’s gross profit, while Square had no meaningful impact on Block’s Bitcoin business.
Avory & Co. founder and chief investment officer Sean Emory said “Block had a strong quarter,” having “beat and raised” its guidance.
Source: Jevgenijs Kazanins
The quarter also included a restructuring overhaul in late February, when Dorsey announced about 4,000 staff cuts, representing roughly 40% of the company’s workforce, as part of a plan to rely more on AI in search of greater operational efficiency. Block’s operational expenses rose 57.2% year-on-year to $3.08 billion in Q1.
Cash App’s quarter-over-quarter change in gross profit. Source:Block
Block expands Bitcoin offerings
In late April, Block launched a proof-of-reserves for its corporate Bitcoin treasury and for users to confirm Bitcoin balances on Cash App and Square as part of a push to increase transparency with its customer base.
Related: Bitcoin exchange reserves fall to two-year low after $8B exodus
In the same announcement, Block unveiled a Bitkey hardware wallet with a touchscreen to verify transactions and a new feature on Cash App allowing certain users to automatically convert payments into Bitcoin.
It also started offering 5% Bitcoin cash back rewards for Square merchants and raised customer withdrawal limits fivefold to $10,000 per day and $25,000 per week, extending Dorsey’s push to broaden Bitcoin’s role in everyday payments.
Magazine: Guide to the top and emerging global crypto hubs — Mid-2026
Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.
Bedrock AgentCore Payments turns Amazon’s agent platform into a transactional layer, with Coinbase supplying x402 stablecoin rails and Stripe contributing wallet infrastructure via Privy.
Amazon Web Services on Thursday introduced Bedrock AgentCore Payments, a managed feature set that lets AI agents authenticate wallets, hold funds, and complete transactions inside their execution loop, with Coinbase and Stripe supplying the payment rails.
The preview puts stablecoins at the center of Amazon’s agentic commerce stack. Coinbase’s x402 protocol, an HTTP-native open standard for instant stablecoin micropayments, powers the first set of capabilities, while Stripe contributes wallet infrastructure through its Privy subsidiary. End users can fund either wallet type with stablecoins or fiat via debit card.
It is the clearest signal yet that x402 is on track to become a default settlement layer for machine-to-machine commerce. AWS said it joined Coinbase as a member of the x402 Foundation to develop open standards for the agent economy.
Coinbase’s Brian Foster, head of infrastructure growth and strategy, framed the launch in a press release as giving developers a “full stack to build agents that move money at software speed,” predicting that AI agents will soon outnumber humans as transacting parties.
Under the hood, when an agent calls a paid endpoint, the server returns an HTTP 402 “Payment Required” response. AgentCore then authenticates with the configured wallet, executes a stablecoin payment, attaches proof, and returns the content to the agent without breaking its reasoning loop. End users must explicitly authorize wallet access, and spending limits are enforced per session.
Coinbase is also exposing its x402 Bazaar, a directory of paid endpoints, through AgentCore Gateway as an MCP server. The integration lets agents discover paid services on their own rather than requiring developers to hardcode each integration.
Stripe’s contribution is delivered through Privy, the wallet-as-a-service firm Stripe acquired earlier this year. Henri Stern, CEO and founder of Privy, said the partnership aims to make stablecoin wallets for agents readily available to AgentCore developers.
AWS framed micropayments as the entry point and said future phases will extend agent transactions into broader commerce, including flight bookings, hotel reservations, and merchant purchases. The company is also working with Stripe toward fiat payment support beyond stablecoins.
This article was written with the assistance of AI workflows. All our stories are curated, edited and fact-checked by a human.
Day one of the inaugural GITEX AI Kazakhstan has officially wrapped up in Almaty, establishing what organizers are calling the most ambitious technology gathering across Central Asia and the Caucasus. Operating as the region’s largest AI-first technology, startup, and digital investment event, the conference is hosted by the Ministry of Artificial Intelligence and Digital Development Kazakhstan, in close partnership with Astana Hub and the Akimat of Almaty.
Held under the patronage of the President of the Republic of Kazakhstan, H.E. Kassym-Jomart Tokayev, the summit marks a significant milestone for the rapidly growing Central Asian innovation ecosystem. The opening day was characterized by packed halls and high-stakes discussions, underscoring genuine momentum as the nation seeks to firmly cement its position as a primary regional technology hub.
A powerful convergence of global tech
The event has drawn an unprecedented international turnout, reflecting growing global interest in Central Asia’s digital potential. The exhibition floors and networking spaces feature 336 diverse tech enterprises and startups, operating alongside more than a hundred active investors searching for emerging opportunities.
Furthermore, more than 200 speakers representing over 50 different countries have descended on Almaty to share critical insights and foster cross-border partnerships.The sheer volume of senior technology executives and business attendees marks the gathering as the largest and most international technology event of its kind ever held in the region. Thousands of participants are leveraging the platform to forge new alliances, highlight breakthrough technologies, and fundamentally reshape business growth strategies for the digital era.
Strategic backing and AI development
Highlighting the profound strategic importance of the event at a national level, GITEX AI Kazakhstan also served as the venue for the second-ever meeting of the Kazakhstan Council for AI Development. This critical assembly took place as an exclusive, closed-door executive session on the event’s opening day.
The high-level council meeting was chaired directly by President Tokayev, reflecting the state’s deep commitment to technological advancement. Joining the President in leading the strategic discussions was Zhaslan Madiyev, the Deputy Prime Minister of Artificial Intelligence and Digital Development, who serves as the Secretary of the Council. As the event moves into its second day of programming, the strong governmental backing and massive international participation signal that Kazakhstan’s ambitious push into the global AI economy is only just beginning.
Bitcoin’s (BTC) relief rally to $82,000 appears to be cooling off, and analysts say key levels must be reclaimed for BTC price to “confirm a durable continuation higher.”
Key takeaways:
Bitcoin must break resistance at $85,000-$88,000 to confirm that the bottom is in.
Profit-taking on rallies must cool down for a sustained breakout in BTC price.
Bitcoin must reclaim $88,000 as support
Bitcoin’s 7% climb over the last week to $81,000 saw it reclaim key levels, including the true market mean at $78,200 and short-term holder (STH) cost basis at $79,100.
If the price sustains above these two levels, the 50% drawdown from the $126,000 all-time high to sub-$60,000 levels in February “would rank among the shortest episodes of its kind in Bitcoin market history,” Glassnode said in its latest Week Onchain newsletter, adding:
“Attention now shifts to the next major resistance at the Active Realized Price near $85.2K, which tracks the cost basis of all non-dormant supply and represents the next structural threshold the market must reckon with.”
Bitcoin risk indicator. Source: Glassnode
The last time Bitcoin reclaimed its active realized price, in October 2023, it was followed by a 170% rally to its previous all-time high of $74,000 reached in March 2024. These gains increased to 365% once the price hit its current record highs above $126,000.
Related: Bitcoin Bollinger Bands push key breakout as creator acts on ‘positive’ signal
Bitcoin’s realized price by age cohorts reveals other major levels of resistance sitting higher up: the realized price of the three-to-six-month investor cohort at $88,880, the 12-month-18-month cost basis at $93,450 and the average purchase price of the six-to-12-month investor cohort at $111,850.
“For the bottom to be confirmed, price needs to clear $88.88K and hold – not wick through, not retest and fail,” CryptoQuant analyst IT Tech said in a Thursday Quicktake note, adding:
“Until then, every rally into $85K-$88K is walking straight into distribution from November 2025-Feb 2026, buyers desperate to get out flat.”
Bitcoin realized price – UTXO age bands. Source: CryptoQuant
A sustained move above that level could put recent buyers back in profit and reduce sell pressure, confirming a “durable continuation higher,” Glassnode added.
Analyst MikybullCrypto highlighted Bitcoin’s core levels of resistance before a “mega solid trend change,” including $88,000 and $92,000, based on Fibonacci level analysis.
“Overcome these resistances, then $100K is guaranteed.”
BTC/USD daily chart. Source: MikybullCrypto
Profit-taking by long-term holders could delay BTC price recovery
Bitcoin’s current pullback below $81,000 could be attributed to increased profit-taking by long-term holders.
Additionally, the 14-day simple moving average of profit realized by investors who have held BTC for more than one year has increased to about $180 million per day following the recent rally.
Should the current recovery continue, “this distribution pressure is likely to intensify,” Glassnode said, adding:
“The market’s ability to absorb this gradual increase in supply while sustaining the price above the True Market Mean will be the defining test of whether the current recovery has genuine structural legs.”
Bitcoin realized profit by age. Source: Glassnode
Meanwhile, realized losses remain elevated at $479 million per day, approximately 140% above the $200 million per day cycle baseline.
A sustained compression of this indicator below $200 million per day would serve as a strong indicator that selling exhaustion is setting in and confirm a “more durable recovery regime,” Glassnode said, adding:
“Until that threshold is reached, the dual weight of long-term holder profit taking and top-buyer distribution at thin loss margins is likely to anchor the current rally.”
Bitcoin realized loss. Source: Glassnode
This article is produced in accordance with Cointelegraph’s Editorial Policy and is intended for informational purposes only. It does not constitute investment advice or recommendations. All investments and trades carry risk; readers are encouraged to conduct independent research.
The longer the funding rates stay red, the louder the short squeeze gets.
Bitcoin BTC$79,501.99 traded at $79,614 in Asian hours Friday, down 1.6% over 24 hours but still up 3.3% on the week, after pulling back from a Wednesday high of $81,500 that was the highest print since late January.
Ether dropped 2% to $2,278, dogecoin slid 3.8% to $0.1063, XRP fell 1.7% to $1.38, and BNB shed 0.7% to $638. Solana and TRON held in green territory at $88.14 and $0.3474 respectively. Dogecoin is the only major coin in the red on the seven-day tape.
The pullback came as U.S. forces fired on Iranian targets after attacks on American naval destroyers transiting the Strait of Hormuz on Thursday, per reports.
President Donald Trump described the strike as a “love tap” in an ABC News interview, said the ceasefire with Iran remains “in effect,” and threatened to hit harder if Tehran does not sign a deal soon. Brent crude climbed 1.2% to around $101 a barrel on the escalation, though oil is still down more than 6% on the week as the broader US-Iran de-escalation narrative continues to hold.
Equities took a similar pause. The MSCI All Country World Index slipped 0.3% and Asian shares fell 1.2% from a record close, though the region is still on track for a fifth straight week of gains. Wall Street futures were 0.2% higher in early trading, suggesting the pullback is profit-taking rather than a structural reversal.
Bitcoin futures funding rates have now stayed negative for 67 consecutive days, the longest stretch in 10 years per K33 Research. Funding rates are periodic payments between traders holding long and short futures positions, with negative funding meaning shorts are paying longs to keep their positions open.
A market where shorts have been paying for two-and-a-half months while price has grinded higher is the cleanest setup for a short squeeze, where a sudden price move forces those shorts to close positions and accelerates the rally.
FxPro chief market analyst Alex Kuptsikevich said in a note bitcoin’s pause this week is not a sign of buyer exhaustion.
“Bitcoin rose to $82,800 on Wednesday, approaching but not breaking through the 200-day moving average at $83,200. From its local highs, the leading cryptocurrency retreated to $81,300 at the time of writing,” he said.
Kuptsikevich added that the daily RSI hit overbought territory above 70, and that the previous three times this happened (August, October, January) were followed by sharp selloffs. “It is logical that market participants are taking a breather to assess the situation and gather strength.”
The options market is more cautious. QCP Capital said in a Telegram broadcast that monthly implied volatility remains around 41% and demand for put options persists, suggesting traders are buying bitcoin but continuing to hedge their downside.
Elsewhere, Research firm XWIN Japan flagged $93,000 as a medium-term target driven by closing the CME futures gap, though the firm cautioned the move may not be linear and could see a leg lower first.
For now, the trade sets up around two competing pressures. The negative funding extreme keeps the short squeeze on the table if bitcoin breaks $83,200. The Iran headlines and overbought RSI keep the door open for another retest of the lower range.
The crypto industry’s embrace of AI is less about chatbots and more about building financial infrastructure for autonomous machines, says Chappy Asel, a former Apple engineer and founder of AI nonprofit The AI Collective.
Speaking at Consensus Miami, Asel, founder of The AI Collective, a global nonprofit AI community with more than 200,000 members across 150+ chapters, argued that as software agents increasingly make economic decisions on behalf of users and businesses, they will need payment systems capable of handling low-latency, programmable transactions at scale.
“When agents make the majority of financial decisions, economic decisions, how do they transact with each other?” Asel said during the panel. “You want them to be highly systematic, mechanistic. You want very small, micro transactions. You want very low latency.”
Asel, who previously worked on Apple’s Vision Pro and early Apple Intelligence efforts before launching The AI Collective, framed the convergence of crypto and AI through a practical lens.
“The number one thing that I’ve heard kind of throughout this conference… even my friends who only know about AI, they know nothing about blockchain, is they’ve heard about agentic payments,” he said.
Stablecoins already offer 24/7 settlement and smart contracts allow programmable execution. Marrying them together is the only logical way agentic payments — without a human in the middle — can become mainstream.
Still, the thesis remains early. AI agents are still nascent, and many companies today rely on centralized APIs and conventional payment systems. Attempts to build “agentic payments” infrastructure have so far generated little meaningful commercial activity, suggesting the narrative may be developing faster than actual demand.
Even if machine-to-machine commerce takes longer to materialize, Asel argued the broader overlap between crypto and AI may emerge elsewhere first.
“A lot of people will tell you, oh, it’s the models aren’t good enough,” Asel said. “It’s none of that. It’s literally compute, data centers, energy that is driving pretty much all decision-making in AI right now.”
That framing reflects a wider shift in the AI economy, where access to chips, power, and data center capacity is becoming the defining competitive advantage.
Parts of the crypto industry are already moving to capture that opportunity. Several bitcoin miners have spent the past year repositioning toward AI hosting and high-performance computing, betting that infrastructure originally built for mining can be repurposed for AI workloads.
For Asel, the practical advice for founders navigating the uncertainty was simple: experiment.
“When the world is more uncertain than it ever has been… things will only get crazier,” he said. “That warrants that you are spending more and more time playing around with the new technology.”
Crypto’s consumer adoption problem has always been partly a usability problem.
But AI agents do not need onboarding tutorials, aren’t intimidated by MetaMask, or need help remembering seed phrases. If autonomous software becomes a meaningful economic actor, crypto may have found a user base that actually thinks in code.
