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Hyperliquid Policy Center Fires Off CFTC Letter On Prediction Markets—Here’s What It Wants

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Hyperliquid Policy Center Fires Off CFTC Letter On Prediction Markets—Here’s What It Wants

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The newly launched Hyperliquid Policy Center (HPC) has entered the US prediction market debate with a fresh submission to the Commodity Futures Trading Commission (CFTC). 

The Washington, D.C.-based non-profit, led by Jake Chervinsky, said it responded to the CFTC’s request for public input following an Advance Notice of Proposed Rulemaking on Prediction Markets (the “ANPRM”). 

Hyperliquid Policy Center Lays Out Its Case To CFTC

In its comment letter, filed on Thursday, HPC urges the CFTC to adopt a flexible, function-based approach so the regulatory framework can account for decentralized market designs. 

HPC also asked for an explicit path for US participants to access decentralized prediction markets, while emphasizing the importance of encouraging American leadership in decentralized financial innovation.

The policy center framed prediction markets as part of a broader US derivatives tradition. It noted that federal derivatives laws exist to support price discovery across commodities and to help producers and consumers plan and hedge risk. 

In that context, HPC argued that public, market-based prices function as “a public good” because they aggregate scattered information, produce signals that can support decisions in economic and political settings, and can outperform less structured approaches. 

The group added that prediction market pricing already influences prediction platforms, saying its data is integrated into major trading terminals, financial and news outlets, and social media.

In its view, decentralized prediction markets bring advantages rooted in design choices rather than operator discretion. The center described decentralized markets as transparent and non-custodial, with built-in operational resilience. 

Finally, HPC pointed to the idea that market data and collateral can be composed directly with other on-chain components, including smart contract environments and trading and risk management protocols.

HIP-4 Testing Meets Washington Push

According to the letter, those characteristics help advance regulatory objectives that the CFTC has discussed in relation to centralized prediction markets, including impartial access, settlement integrity, customer protection, and effective market surveillance. 

HPC emphasized, however, that rulemaking aimed at centralized structures should not inadvertently lock in assumptions that only a single exchange operator can exist at the center of the system, or that surveillance and settlement mechanics must be structured around a traditional operator model. 

The policy center said enabling access to decentralized prediction markets in the United States will require additional steps beyond the ANPRM process, but it argued the CFTC still has an opportunity to shape that access pathway.

The Hyperliquid Policy Center’s move comes amid broader industry activity around Hyperliquid. The policy center’s letter follows a new proposal reported by NewsBTC on Wednesday, describing Hyperliquid testing a system upgrade called HIP-4. 

The reported upgrade is intended to enable traders to bet on real-world outcomes on a platform that has drawn attention for rapid and aggressive expansion.

Hyperliquid
The daily chart shows HYPE’s attempt to consolidate just below the key $40 mark. Source: HYPEUSDT on TradingView.com

As of this writing, Hyperliquid’s native token, HYPE, was trading at $39, marking a 6% loss over the past week. 

Featured image from OpenArt, chart from TradingView.com 

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.

Polymarket Taps Chainalysis to Police Insider Trading

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Polymarket Taps Chainalysis to Police Insider Trading

The prediction market will deploy a custom on-chain detection model to flag insider activity.

Polymarket has selected Chainalysis to deploy what it describes as a “first-of-its-kind” on-chain market integrity solution to monitor trading activity and enforce platform rules, the companies said in a press release on Thursday.

At the center of the deal is a detection model built on Chainalysis Data Solutions and designed to surface patterns consistent with insider knowledge in prediction markets. The agreement also spans Chainalysis investigative tools to produce blockchain-verified evidence for engagement with law enforcement, on-chain security capabilities for threat prevention, and professional services to deploy the system and train Polymarket’s team.

The framework will sit on top of Polymarket’s existing multi-layered monitoring system and is intended to evolve as new trading patterns emerge.

“Polymarket was built on-chain because transparency matters, and our platform shows what markets can look like when trades are open, traceable, and accountable by design,” said Shayne Coplan, founder and CEO of Polymarket. “This partnership with Chainalysis pairs that transparency with the monitoring and enforcement infrastructure to back it up.”

Insider Trading Scrutiny

The deal lands as prediction markets face intensifying scrutiny over whether traders with non-public information can quietly profit off major events.

Earlier this month, the U.S. Department of Justice charged an active-duty Army soldier with using classified intelligence tied to a military operation involving Nicolás Maduro to place bets on Polymarket, generating roughly $409,881 in profits from about $33,000 in wagers, according to prosecutors. The case is one of the first criminal prosecutions tied to insider activity on a decentralized prediction venue.

The Chainalysis partnership also follows a rule update last month that prohibited trades based on stolen confidential information and illegal tips, as well as wagers by people in a position to influence an event’s outcome. It builds on the platform’s earlier surveillance tie-up with Palantir and comes as the company pursues a reported $15 billion valuation.

The framing also marks a shift in tone for Coplan, who has previously argued that trading on private information could be socially useful by surfacing data to the public more quickly.

“On Polymarket all trades and all settlements are recorded on a blockchain, a level of transparency that traditional markets simply cannot match,” said Jonathan Levin, co-founder and CEO of Chainalysis. “Pairing that transparency with Chainalysis’ data and expertise sets a new standard for market integrity enforcement.”

This article was written with the assistance of AI workflows. All our stories are curated, edited and fact-checked by a human.

MinuteMaster on The Rising Cost of Meeting Inefficiency in Asset Management

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MinuteMaster on The Rising Cost of Meeting Inefficiency in Asset Management

At the TSAM London event, the industry focus shifted toward a growing operational burden: the sheer volume and declining quality of corporate meetings. Jonathan Ferrara, Partner at MinuteMaster, joined the discussion to address how asset managers are struggling with an explosion of meetings required for both internal and regulatory purposes. As firms spend significant capital on arranging, holding, and documenting these sessions, many are finding that the actual benefits are failing to keep pace with the rising costs.

Ferrara highlighted that without a fundamental change in how meetings are structured, held, and documented, the problem will only continue to proliferate. Currently, asset managers face immense pressure regarding the speed and quality of meeting packs, minutes, and action item tracking. MinuteMaster is solving this by introducing end-to-end consistency that ensures no action item is ever lost and that individual styles do not compromise the professional standard of the output.

Beyond quality, the move toward specialized meeting management systems brings a necessary level of security and auditability to the sector. By keeping all documentation and packs within a secure system rather than relying on email, firms can ensure total data integrity. This becomes critical when regulators require historical data; rather than scrabbling for lost files or videos, everything is immediately available on tap. Most importantly for the cost-conscious manager, these automated workflows are reportedly saving clients between 75% and 90% of the time typically required to manage meetings, leading to a future of cheaper, higher quality, and fully secure operations.

Key Highlights from Jonathan Ferrara:

  • The Meeting Explosion: Ferrara discusses why the increasing number of regulatory and internal meetings is becoming a primary operational drain for asset managers.

  • Consistency and Quality: How moving away from individual documentation styles ensures that no action item is ever lost and the quality of meeting packs remains consistently high.

  • Regulatory Security: The importance of centralized systems that provide instant access to meeting records and data lineage for regulatory audits.

  • Significant Efficiency Gains: A look at how specialized systems are reducing the time spent on meeting documentation by up to 90%, drastically lowering operational costs.

Bitcoin Preserves 12% April Gains But the S&P 500 Steals the Show

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Bitcoin Preserves 12% April Gains But the S&P 500 Steals the Show

Bitcoin (BTC) eyed $77,500 on Friday after US stocks posted fresh record highs on strong tech earnings.

Key points:

  • Bitcoin continues a rebound after the monthly close as stocks hit record highs.
  • Strong tech earnings propel the S&P 500 over 7,200 points for the first time in history.
  • PCE inflation data nears its highest levels in three years, prompting speculation about next month’s numbers.

Bitcoin creeps higher while S&P 500 makes history

Data from TradingView showed near 12% April BTC price gains as risk assets ignored rising US inflation signs.

BTC/USD one-month chart. Source: Cointelegraph/TradingView

The S&P 500 reached nearly 7,220 points before closing ten points lower, propelled by stronger-than-expected earnings from Google and Apple.

Reacting on X, trading resource The Kobeissi Letter noted that the S&P had added over $8 trillion in market cap since hitting local lows at the end of March.

“A year ago it was at 5,600. 5 years ago it was at 4,200. 10 years ago it was at 2,100,” Charlie Bilello, chief market strategist at wealth manager Creative Planning, added.

S&P 500 one-day chart. Source: Cointelegraph/TradingView

While Bitcoin’s gains were less pronounced, markets en masse appeared uninterested in US inflation warnings.

The March print of the Personal Consumption Expenditures (PCE) came in at 3.5%, per data from the US Bureau of Economic Analysis (BEA), marking its highest since August 2023.

Known as the Federal Reserve’s “preferred” inflation gauge, PCE had previously conformed to market estimates.

“In the first month of the Iran War, US inflation hit a 3-year high,” Kobeissi commented. 

“April’s data will be interesting.”

US PCE Indexes. Source: BEA

BTC price still struggling with support reclaim

Bitcoin thus closed out April’s monthly candle with mixed messages.

Related: Bitcoin Coinbase Premium threatens bear flag repeat with BTC price at $76K

At 11.9%, BTC/USD saw its highest monthly gains in a year, CoinGlass data confirmed, but the monthly candle fell short of reclaiming key support lines.

BTC/USD monthly returns (screenshot). Source: CoinGlass

As Cointelegraph reported, these included the 21-week exponential moving average (EMA), with only a single weekly close above it since last October.

“The Bitcoin pullback continues and this is looking more and more like an EMA rejection, especially if BTC isn’t able to Weekly Close above the EMA by end of week,” trader and analyst Rekt Capital warned X followers on Wednesday.

He added that a retest of the mid-$60,000 zone on weekly time frames was “technically necessary to achieve full breakout confirmation.”

BTC/USD one-week chart. Source: Rekt Capital/X

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.

XRP Bearish Sentiment Held Derivatives Hostage for Months: Is The Balance Shifting?

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XRP Bearish Sentiment Held Derivatives Hostage for Months: Is The Balance Shifting?

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XRP is struggling to hold the $1.35 level as the price consolidates within a long-term range that has tested the patience of bulls waiting for a decisive break in either direction. The surface picture is uninspiring — a market grinding sideways without conviction in either direction. But an Arab Chain report tracking the derivatives market has just identified a behavioral shift that cuts directly against the cautious price action.

The 30-day moving average of XRP’s funding rates on Binance has risen sharply, reaching its highest level since early February at 0.0002. That number requires context to feel significant. For the majority of the past several months, funding rates sat in negative territory — reaching a low of -0.0007 at the most bearish point — reflecting a derivatives market where short positions dominated, and bearish expectations were the consensus. Traders were paying to maintain their shorts. Long-side conviction was nearly absent.

That dynamic has reversed. Funding has crossed into positive territory, and the 30-day average has continued climbing — which means the reversal is not a daily noise event but a sustained, trend-level shift in how derivatives participants are positioning. Long positions are increasing. The willingness to pay to hold bullish exposure has returned to a market that had been persistently skeptical for months.

XRP at $1.35 may look like consolidation. The derivatives data suggest something different is building beneath it.

The Derivatives Market Is Moving Before the Price Does. That Tends to Matter

The Arab Chain report draws a distinction that prevents the current funding rate improvement from being dismissed as a routine daily fluctuation. The 30-day moving average is specifically designed to filter out noise — it smooths over the day-to-day volatility that makes short-term readings unreliable and surfaces the more stable, directional trends that persist across weeks rather than hours.

The fact that this average has reached its highest level since early February is not a one-day anomaly. It is a trend-level development that has been building gradually and has now reached a threshold that the data has not visited in nearly three months.

XRP Ledger: Funding Rates | Source: CryptoQuant
XRP Ledger: Funding Rates | Source: CryptoQuant

The divergence between that improving derivatives signal and XRP’s stable, range-bound price is the analytical detail the report identifies as most forward-looking. Derivatives markets move before spot markets. When funding rates shift directionally ahead of price, the historical pattern is that price eventually follows the derivatives signal rather than the reverse. XRP consolidating at $1.35 while long-side conviction quietly builds in the perpetual market is the sequence that typically precedes directional moves rather than continued stagnation.

The honest caution the report appends is worth taking seriously. Funding rates that rise too quickly can create overbought conditions — a market where long positions have accumulated so rapidly that any disappointment triggers forced exits and sudden corrections.

The current 0.0002 reading is elevated relative to recent months but not yet at the extreme levels that historically signal excess. The momentum is constructive. Managing the risk of that momentum becoming self-defeating is what determines whether the current setup resolves as the derivatives signal suggests or reverses before it does.

XRP Compresses Beneath Resistance As Range Tightens

XRP is trading around $1.37, continuing to consolidate within a clearly defined range that has held since the sharp February breakdown. After capitulating toward the $1.20 zone, price stabilized and began forming a horizontal structure between roughly $1.30 support and $1.45 resistance. That range remains intact, and recent price action shows compression rather than expansion — a sign that a larger move is building but not yet resolved.

XRP consolidates in a range | Source: XRPUSDT chart on TradingView
XRP consolidates in a range | Source: XRPUSDT chart on TradingView

The moving averages reinforce the lack of trend. XRP remains below the 200-day moving average, which is still trending downward and acting as dynamic resistance near the $1.45–$1.50 area. Meanwhile, the 50-day and 100-day averages are flattening and converging around the current price, reflecting equilibrium between buyers and sellers rather than directional conviction.

Volume supports this interpretation. The spike during the February selloff marked a clear capitulation event, but subsequent trading activity has declined steadily. The latest consolidation phase shows relatively muted volume, suggesting neither aggressive accumulation nor distribution is dominating the market.

From a structural perspective, XRP is coiling within a narrowing range. A break above $1.45 would invalidate the sequence of lower highs and shift short-term momentum, while a loss of $1.30 would reopen downside toward the February lows.

Featured image from ChatGPT, chart from TradingView.com 

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.

Bithumb’s six-month suspension in South Korea is overturned by local judge

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Bithumb’s six-month suspension in South Korea is overturned by local judge

A South Korean court overturned Bithumb’s six-month partial business suspension Thursday, according to Yonhap News.

The news agency cited legal sources, saying that the 2nd Administrative Division of the Seoul Administrative Court’s Judge Gong Hyeon-jin had accepted Bithumb’s application for a stay of execution on the same day it was presented. There was no clarification on whether a 36.8 billion won ($24.6 million) fine was also suspended. South Korea’s financial watchdog imposed the fine and suspension in March, alleging massive violations of local anti-money laundering rules.

Bithumb, one of South Korea’s largest crypto exchanges, filed a request with the court requesting it end the suspension and fine imposed by the Financial Intelligence Unit (FIU) in March along after the regulator said it discovered the exchange had committed millions of violations of the country’s anti-money laundering rules.

The sanctions stemmed from violations of the Act on Reporting and Using Specified Financial Transaction Information, the Financial Services Commission said in March.

The FIU said Bithumb committed about 6.65 million violations, of which 3.55 million involved failures to carry out required customer identity verification, while 3.04 million were related to cases where the exchange failed to properly block transactions that should have been blocked.

While the court ruling ending the suspension is good news for the exchange, it follows reports that South Korea’s Personal Information Protection Commission has initiated a probe into Upbit, Bithumb and other platforms regarding the sharing of order books with overseas platforms.

The case against Bithumb is part of South Korean regulators’ increased oversight of the cryptocurrency market. In 2025, the FIU handed Dunamu, the operator of the country’s largest exchange, Upbit, a three-month partial suspension and a 35.2 billion won fine for compliance gaps. Korbit, a rival platform, faced a smaller penalty of 2.73 billion won along with institutional warnings.

Bithumb was established in 2014 and currently ranks among the largest exchanges in South Korea by trading volume, according to CoinGecko data. The end of the suspension comes two months after Bithumb mistakenly distributed billions of dollars worth of bitcoin to users.

Expanding infrastructure for the age of AI commerce: Ant International connects over 150 million merchants with more than 2 billion consumers

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Expanding infrastructure for the age of AI commerce: Ant International connects over 150 million merchants with more than 2 billion consumers

  • New strategy highlights synergy among Global Payment, Global Account and Inclusive and Embedded Finance services built on progress in AI and interoperability.
  • As a foundation to the business, Ant International’s global payment services support over 300 payment methods, including more than 10 national QR systems and 50 digital wallets and bank apps, and exceed 20 million daily transactions on average.

Ant International CEO Peng Yang shares the company’s global strategy for the era of AI commerce and launches its open-sourced Agentic Mobile Protocol (AMP) at the MoMents 2026 fintech executive forum

Ant International now connects over 150 million global merchants with more than 2 billion user accounts globally, the company disclosed at its flagship MoMents 2026 fintech executive forum in Kuala Lumpur, Malaysia.

Ant International is a leading global digital payment, digitisation and financial technology provider. The company now supports 300+ payment methods in over 220 markets, including all card schemes, 50 mobile payment partners and more than 10 national QR systems, including Singapore’s SGQR, Malaysia’s DuitNow, South Korea’s ZeroPay, Thailand’s PromptPay, Indonesia’s QRIS, Sri Lanka’s LankaPay, and more. It recently onboarded more leading global e-wallets and bank apps such as iFAST Global Bank from the UK, KBank and SCB from Thailand, barq from Saudi Arabia and ShopeePay from Southeast Asia.

With an average of over 20 million transactions daily, Ant International is building broader market reach through new licenses and partnerships in Asia, Latin America and EMEA. In Vietnam, it partners with NAPAS and Vietcombank to roll out cross-border QR payment service, and is also working with the Ho Chi Minh City government on the development of an international financial centre. In Latin America, it formed a strategic partnership with Mexican fintech company R2 in late 2025, supporting the expansion of SME lending across the region. In the Middle East, Ant International collaborates with the Saudi Central Bank (SAMA) and national payment network mada, with plans to introduce Alipay+ cross-border QR payments in 2026. Its recent initiatives also include plans to roll out Islamic finance programs in Southeast Asia and other emerging markets.

While serving businesses in their global expansion, Ant International also ranks in first place in terms of the number of global accounts it has been managing for businesses, particularly SMEs, engaged in cross-border commerce.

“New models of financial interoperability and AI commerce give us powerful tools to help global giants as well as mom-and-pop shops to increase resilience and expand revenue streams,” said Peng Yang, CEO, Ant International. “A broader and deeper network means we can work with more partners on more levels to deliver more innovative, trusted, and high ROI fintech solutions in the world’s fastest growing markets.”

Layered solutions for enterprises, SMEs and emerging markets to achieve inclusive growth

Yang underlined a strategy to combine the forces of its four main businesses – Alipay+, Antom, Bettr and WorldFirst – to offer more connected growth solutions for businesses of all sizes.

  • Global payment: Making payments a growth engine for businesses of all sizes to thrive in the global digital economy.
  • Global account: Enabling AI-powered borderless global accounts for businesses of all sizes, and serving as the ticket to digital trade and commerce. This makes ‘born global’ a reality for all businesses from day one.
  • Strategic value boosters: Leveraging innovation and technology to deliver embedded financing, credit and treasury solutions that power inclusive growth.
  • Innovation and technology leadership: Grounded in extensive expertise in supporting global payments and businesses of all sizes, Ant International’s leading AI and blockchain solutions are co-developed with customers, partners and regulators to deliver real impact while ensuring security and compliance.

Go-to-market FinAI solutions for real-world problem solving

Working with top LLMs, card schemes and other fintechs, Ant International builds out FinAI capacities and solutions for merchants and financial institutions to tackle real-world growth and security challenges. Key examples include:

Agentic Mobile Protocol (AMP)

At MoMents 2026, Ant International has introduced the open-sourced AMP – the world’s first agentic payment framework designed for mobile interfaces – to help drive AI commerce. The protocol enables secure, AIOps-native agentic payment connection to mobile services including digital wallets, banking apps, super apps, and mobile portals from phones to wearable devices.

AI-as-a-Service Platform

Ant International’s AI-as-a-Service platform GenAI Cockpit equips fintech partners with tools to build a wide range of agentic solutions, from customer-service assistants to sales copilots. Malaysia’s leading e-wallet TNG eWallet, and easypaisa, Pakistan’s first digital bank, are using the platform to deliver better customer experiences with AI.

AI SHIELD

Ant International’s 3-in-1 risk management transformer maintains trust in the ecosystem by providing a robust security layer underpinning all transactions processed by the company. The model is supported by over 7 billion parameters, and combines graph, sequential and tabular data to identify high-risk transactions with over 95% precision, while improving payment success rates by up to 13.5%.

Falcon TST AI FX model

The industry-first MoE-based AI FX model makes long-term forecasts with prediction accuracy of up to 93%, leveraging over 8.5 billion parameters. Deployed internally at Ant International to manage cashflow and FX exposure on an hourly, daily and weekly basis, Falcon TST has helped to cut the company’s FX costs by up to 60%. The model was open-sourced in 2025 to expand access to its capabilities and invite collaboration to advance time-series learning.

EPOS360

A pioneering AI-powered SME app, EPOS360 integrates practical AI tools with POS system, payments, banking, financing and growth operations for small businesses. The suite of AI-powered tools and payment capabilities was launched in Singapore, and is also available to merchants in Malaysia as a mini-programme via TNG eWallet.

Antom Copilot

Antom Copilot provides automation and assistance for merchants based on learnings from real-world cases, improving efficiency of services such as chargeback dispute handling by up to 46%. Within a year of its launch, 72% of Antom-onboarded merchants completed self-service payment integration with the copilot.

At the MoMents 2026 fintech executive forum held in Kuala Lumpur, Malaysia, executives from global payment networks, banks, fintechs, tech companies, and governors came together to discuss the future of financial services in the era of AI commerce. Conversations focused on new forms of payment transformation, multi-layer global interoperability, super app evolution with AI-native tech, innovation of Islamic financing and initiatives around trust and security.

Ant International launched its Digital Business Center in Kuala Lumpur in 2024.

Bitcoin Stalls Below $77K As Spot Volumes, Leverage Decline

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Bitcoin Stalls Below $77K As Spot Volumes, Leverage Decline

Bitcoin’s (BTC) attempt to trade above $77,000 have failed multiple times over the past week, despite traders managing a one-day breakout to $79,500. Data show short-term holders taking profits as the rally peaked, sending 150,000 BTC to exchanges since April 15. 

Crypto analyst Darkfost noted the continued fragility among short-term holders (STHs), or wallets holding BTC for less than 155 days. As the price rose over the past two weeks, BTC transfers from these wallets to exchanges increased.

Three consecutive sessions saw 65,000 BTC, 54,600 BTC and 39,000 BTC sent to exchanges and these flows may have prevented Bitcoin from overtaking the resistance level at $80,000.

BTC short-term holder supply to exchanges. Source: CryptoQuant

Spot volumes also declined sharply. BTC activity has dropped to levels last seen in September 2023, near the end of the previous bear phase. Binance recorded a monthly decline of about $25 billion in volume. Gate.io also saw a $13 billion drop, while OKX volumes fell by roughly $6 billion.

This indicates weaker investor conviction to build spot exposure at current price levels. Darkfost explained, 

“This contraction in volumes therefore reflects a temporary loss of interest in Bitcoin. While declining spot volumes can suggest negative short-term momentum, these phases of apathy are also often where new opportunities begin to emerge.”

BTC spot trading volume. Source: CryptoQuant

Related: Bitcoin Coinbase Premium threatens bear flag repeat with BTC price at $76K

Bitcoin needs fresh demand from leveraged traders

Bitcoin researcher Axel Adler Jr. highlighted a shift in liquidation pressure, with the seven-day oscillator turning positive and reaching +28.7 by April 30. Both the long and short positions have been squeezed more frequently, with total crypto liquidations reaching $604 million over the past 24 hours.  

Bitcoin futures long-short liquidations dominance. Source: CryptoQuant

The shift supports the price in the near term. The 30-day average remains slightly negative, keeping the broader bias tied to prior long liquidations.

Open interest shows where traders’ urgency may be lacking. The seven-day average dropped to about 292,000 BTC from above 300,000 BTC. Around 8,000–9,000 BTC in leverage has been removed over the past 10 days, with daily changes still negative.

The price continues to press against $77,000, with no rise in participation. A stronger move higher would likely require open interest to increase and spot volumes to expand, signaling new capital entering the market rather than futures positions being forced to close.

Related: Bitcoin analysts explain why BTC price can’t take out $80K

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.

Spot Vol Drops To Lowest Since Oct ’23

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Spot Vol Drops To Lowest Since Oct ’23

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

On-chain data shows the Bitcoin spot volume has observed a notable decline, something that could make the market more sensitive to flow shifts.

Bitcoin Spot Volume Has Gone Through A Decline Recently

As highlighted by on-chain analytics firm Glassnode in an X post, the Bitcoin Spot Volume has declined to multi-year lows. The “Spot Volume” here refers to an indicator that measures, as its name suggests, the total amount of the cryptocurrency (in USD) that’s becoming involved in trading activity on the various centralized spot exchanges.

When the value of the metric rises, it means the investors are ramping up their spot trading activity. Such a trend suggests interest in the cryptocurrency is increasing.

On the other hand, the indicator observing a decline implies investors may be shifting their attention away from the asset as the number of tokens becoming involved in spot trades is going down.

Now, here is the chart shared by Glassnode that shows the trend in the Bitcoin Spot Volume over the last few years:

Bitcoin Spot Volume

The value of the metric seems to have been heading down in recent days | Source: Glassnode on X

As displayed in the above graph, the Bitcoin Spot Volume witnessed a sharp spike following the price crash at the start of February, but the elevated trading activity lasted only temporarily as the metric soon plunged back to low levels.

Since then, the indicator has continued to move down, implying investors have been disengaging with the market. Interestingly, the downtrend has maintained despite the price recovery that BTC saw in April.

Recently, the Spot Volume dropped to its lowest levels since October 2023, showcasing just how low trading interest around the cryptocurrency has become. “Such low volume environments often coincide with reduced market depth and heightened sensitivity to flow shifts,” noted the analytics firm.

In some other news, the Bitcoin Coinbase Premium Gap has assumed a significantly negative level, as CryptoQuant community analyst Maartunn has pointed out in an X post. The Coinbase Premium Gap keeps track of the difference between the BTC prices listed on Coinbase (USD pair) and Binance (USDT pair).

As the below chart shows, the indicator’s value has plummeted to a value of -$30 recently, suggesting that BTC has been trading at a discount on Coinbase as compared to Binance.

Bitcoin Coinbase Premium Gap

The trend in the BTC Coinbase Premium Gap over the last few days | Source: @JA_Maartun on X

Bitcoin going for a lower rate on Coinbase naturally implies that users of the platform have been applying a higher amount of selling pressure than Binance traders. Alongside the recent Coinbase selling, BTC has observed a retrace, a potential sign that American institutional entities, the platform’s largest users, could be involved.

BTC Price

At the time of writing, Bitcoin is trading around $76,400, down 1.5% over the past week.

Bitcoin Price Chart

Looks like the price of the coin has declined over the last few days | Source: BTCUSDT on TradingView

Featured image from Dall-E, chart from TradingView.com

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.

Anchorage Digital Partners with M0 on US Stablecoin Issuance Stack

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Anchorage Digital Partners with M0 on US Stablecoin Issuance Stack

The partnership aims to make it easier for companies, including fintechs and paying firms, to issue compliant stablecoins in the United States.

Anchorage Digital has partnered with stablecoin infrastructure provider M0 to offer a combined issuance stack aimed at companies looking to launch U.S.-regulated stablecoins, according to an announcement today, April 30.

Under the deal, M0 handles the modular infrastructure layer — stablecoin design, interoperability, and integration — while Anchorage, known as the federally chartered crypto-focused bank, provides the regulated backend: issuance, custody, and reserve management. The pitch to prospective clients is a single pre-integrated stack that reduces the time and cost of getting a stablecoin to market, per the announcement.

The partnership is targeted not just at traditional financial institutions but at fintechs, payment platforms, and app developers that want to embed digital dollars directly into their products — a segment Anchorage says is driving a new wave of issuance demand.

“By partnering with M0, we’re extending our issuance platform to support that growth, while maintaining the regulatory, operational, and security standards our partners rely on,” said Nathan McCauley, co-founder and CEO of Anchorage Digital.

GENIUS-Ready

The timing of the announcement aligns with the regulatory landscape in the U.S., where issuers are preparing to be compliant with the landmark U.S. stablecoin bill, the GENIUS Act. While it still has yet to go into effect, the bill was signed into law last summer, as The Defiant reported. The new framework requires that stablecoin issuers meet particular requirements around reserves and licensing, and Anchorage is explicitly preparing and positioning itself to do so.

The announcement builds on Anchorage’s growing stablecoin footprint, in particular. The firm launched a new regulated offering dubbed Stablecoin Solutions earlier this year. The crypto bank also serves as the issuer of Tether’s U.S.-focused stablecoin, USAT, and recently received a $100 million investment from the USDT issuer.

This article was written with the assistance of AI workflows. All our stories are curated, edited and fact-checked by a human.

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