21Shares submitted an updated regulatory filing for a US-listed Hyperliquid ETF with ticker symbol $THYP, with fee details still pending.
21Shares filed an updated application for a Hyperliquid ETF to be listed in the United States under the ticker $THYP, according to a filing update posted Tuesday. The submission appears to incorporate feedback from the SEC, with fee information not yet disclosed in the filing.
The updated filing moves the Hyperliquid ETF product closer to regulatory approval and potential US market launch. 21Shares, a digital asset investment products provider, has been pursuing approval for crypto and blockchain-focused exchange-traded products.
Sources: JSeyff on X
This article was generated automatically by The Defiant’s AI news system from publicly available sources.
Lesotho is the small, landlocked kingdom that is encircled by South Africa. What is its fintech and wider digital ecosystem like?
Lesotho’s fintech and digital economy story is not defined by scale or global headlines, but by a quieter, more deliberate transition. This is one shaped by structural constraints, regional dependencies and a growing recognition that digital infrastructure can serve as a pathway to inclusion.
The small economy in Africa has a gross domestic product (GDP) per capita of only $1,300, putting it as a low-income nation. Key sectors include textile manufacturing, remittances, agriculture and government services.
The country’s financial hub is Maseru, where government institutions, financial regulators and commercial banks are concentrated. Among the largest domestic financial institutions is Lesotho PostBank, which plays a key role in expanding access to financial services, particularly in underserved and rural communities.
Digital economic transformation: from constraint to opportunity
Lesotho’s digital transformation is shaped by necessity. Limited industrial diversification and geographic challenges have pushed policymakers to explore digitalisation as a means of accelerating economic development and improving service delivery.
Government and development partners have increasingly focused on: expanding mobile and broadband connectivity, digitising public services and payments and supporting innovation ecosystems and financial inclusion initiatives.
Mobile penetration has reached approximately 90 per cent, creating a foundation for digital services, even as smartphone adoption and internet quality remain uneven.
National strategies, supported by organisations such as the World Bank and the United Nations Capital Development Fund (UNCDF), emphasise the role of digital finance in enabling small and medium enterprise (SME) growth, rural inclusion and cross-border trade integration, particularly given Lesotho’s deep economic ties with South Africa.
In this context, fintech is not simply a sector-it is an enabler of broader economic participation, particularly for populations historically excluded from formal financial systems.
Financial services sector: gradual digital transformation
Aerial panorama view to Maseru, the capital of Lesotho
Lesotho’s financial services sector remains relatively concentrated, with a small number of banks and microfinance institutions. However, digital transformation is steadily reshaping how financial services are delivered and accessed.
Mobile money has emerged as the primary driver of change. Platforms such as M-Pesa Lesotho and services linked to telecom operators have enabled users to transfer money overseas to pay bills and even engage with wealthtech solutions.
This mobile-first model is particularly significant in a country where physical banking infrastructure is limited, especially outside urban centres.
The Central Bank of Lesotho (CBL) has played an increasingly active role in supporting this transformation. Its strategy reflects a careful balance between innovation and financial stability, focusing on modernising the national payments system, promoting digital payments and reducing reliance on cash, and strengthening regulatory frameworks for non-bank financial institutions, including mobile money provider.
The central bank has also aligned its work with the National Financial Inclusion Strategy (NFIS), which aims to expand access to affordable financial services and deepen usage across the population.
News this year showcased that the CBL is currently developing a National Payments Strategy.
Other fintech subsectors are still relatively nascent. For instance, with open banking, that remains at an early stage. However, there is growing awareness of the potential for data-sharing frameworks and digital identity systems to enhance credit access and enable more sophisticated financial products over time.
Importantly, Lesotho’s approach reflects a broader regional trend: prioritising foundational infrastructure and trust-building before moving towards more advanced fintech models.
Financial inclusion: progress with limitations and fintech
Financial inclusion in Lesotho has improved in recent years. Current estimates suggest that approximately 45-50 per cent of adults have access to a formal financial account, while a larger proportion engage with mobile financial services.
This reflects a dual system: traditional banking remains limited, but digital channels are expanding access.
Lesotho’s fintech ecosystem remains in its early stages, reflecting the country’s size and market dynamics. Estimates suggest there are fewer than 20-30 active fintech and digital financial service providers, with activity concentrated primarily in payments and mobile financial services, according to the UNCDF and the CBL.
Several players illustrate the direction of the ecosystem such as digital payments Chaperone with its Chap C-Pay and Lesotho PostBank, which is wholly owned by the government. Foreign players that operate in the country include Zimbabwe’s EcoCash and M-Pesa.
Even traditional financial services institutions are catching on. Standard Lesotho Bank, which is part of the Standard Bank Group, is increasingly investing in digital banking and mobile services.
These institutions highlight a key characteristic of Lesotho’s fintech landscape: telecom-led and bank-supported innovation, rather than a large independent startup ecosystem.
Lesotho’s fintech journey is incremental but meaningful. Digital financial services are steadily expanding access, particularly for rural populations. While challenges remain, the country is laying the groundwork for a more inclusive financial system and promoting digital inclusion for all.
Richie is a global economic development advisor and Managing Partner of Santos-Diaz LLC, specializing in international trade and foreign direct investment across the UK, Middle East, and North America. With over 15 years of experience and a Masters from SOAS University of London, he has advised high-level governments and multinational corporates while contributing to major outlets like Forbes and the World Economic Forum. Currently based in Dubai, he leverages his background in emerging markets and RegTech to bridge the gap between global policy and private sector growth.
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Executive Economic Development Advisor (Emerging Markets) | Contributor
Bitget, the world’s largest Universal Exchange (UEX), has released its Q1 2026 Transparency Report, highlighting a clear shift in trading behavior as users increasingly move across crypto and traditional markets within a single account environment.
The quarter saw non-crypto assets trading expand significantly on Bitget, with its share of total volume reaching 20% – 40% by the end of March, driven largely by commodities. This compares to early January, when crypto dominated nearly all trading activity, before moderating to approximately 60% – 80% through most of March. The shift reflects a gradual diversification of trading behavior, with users allocating capital more dynamically across asset classes rather than remaining concentrated in crypto markets.
Gracy Chen, CEO of Bitget, said the shift reflects a broader change in how markets are evolving. “The lines between crypto and traditional markets are disappearing. What we’re seeing with CFD growth is the early shape of a unified market. Users are not choosing between crypto and traditional assets anymore, they’re trading both together. In Q2, that convergence will deepen as we continue building toward a Universal Exchange where everything trades in one place.”
At the infrastructure level, Bitget boosted its AI trading capabilities with the launch of Agent Hub and GetClaw, marking a transition from assistive tools to execution systems. These developments allow intelligent agents to access real-time market data, interpret signals, and execute trades autonomously within defined parameters, reflecting a broader move toward agent-based market participation.
The release of the Universal Exchange whitepaper further defined this direction, outlining how crypto, tokenized assets, and AI-driven trading will converge within a unified architecture. The roadmap positions the current phase as a turning point where AI-native interfaces and multi-asset access begin moving into mainstream usage.
Beyond trading, Bitget Wallet expanded its ecosystem into real-world financial use cases through the launch of the Onchain Payments Matrix, connecting 90 million users to over 150 million merchants across more than 50 markets. Integrations with networks such as XRP Ledger and Stellar further extended cross-border payment capabilities, positioning digital assets as embedded infrastructure within everyday financial activity rather than standalone tools.
The report reflects Bitget’s continued push toward the Universal Exchange, where trading is no longer defined by asset class or platform. As multi-asset access, AI execution, and real-world financial use cases come together, the focus now shifts to scaling this model.
To read the full Q1 2026 Transparency Report, visit here.
About Bitget
Bitget is the world’s largest Universal Exchange (UEX), serving over 125 million users and offering access to over 2M crypto tokens, 100+ tokenized stocks, ETFs, commodities, FX, and precious metals such as gold. The ecosystem is committed to helping users trade smarter with its AI agent, which co-pilots trade execution. Bitget is driving crypto adoption through strategic partnerships with LALIGA and MotoGP™. Aligned with its global impact strategy, Bitget has joined hands with UNICEF to support blockchain education for 1.1 million people by 2027. Bitget currently leads in the tokenized TradFi market, providing the industry’s lowest fees and highest liquidity across 150 regions worldwide.
Risk Warning: Digital asset prices are subject to fluctuation and may experience significant volatility. Investors are advised to only allocate funds they can afford to lose. The value of any investment may be impacted, and there is a possibility that financial objectives may not be met, nor the principal investment recovered. Independent financial advice should always be sought, and personal financial experience and standing carefully considered. Past performance is not a reliable indicator of future results. Bitget accepts no liability for any potential losses incurred. Nothing contained herein should be construed as financial advice. For further information, please refer to ourTerms of Use.
Source: Bitget
The article “Bitget Tops Global Rankings in BTC & ETH Futures Liquidity in Q1 Report” was first published on AlexaBlockchain. Read the complete article here: https://alexablockchain.com/bitget-tops-global-rankings-in-btc-eth-futures-liquidity-q1/
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Virginia signed a law bringing digital assets into unclaimed property rules, requiring in-kind transfer and limiting how quickly the state can sell them.
The US state of Virginia has approved changes to its unclaimed property framework, bringing digital assets under state custody rules while limiting how soon those assets can be sold.
On Monday, Governor Abigail Spanberger signed House Bill 798 into law. The measure amends the state’s Disposition of Unclaimed Property Act, requiring custodians of unclaimed crypto to transfer those assets in-kind, meaning in their original form, rather than liquidating them into cash.
The law also imposes a minimum one-year holding period before any sale. “The administrator may subsequently direct such holder of unclaimed digital assets to liquidate the reported but unremitted digital assets not less than one year following the filing of a report,” the bill reads.
By holding crypto in-kind, the state reduces the risk of forced sales at unfavorable prices or during downturns, offering potential upside for owners who later reclaim their assets.
With the measure, Virginia joins a growing group of states that have included digital assets within unclaimed property laws. In May last year, Katie Hobbs signed a law allowing Arizona to take ownership of unclaimed crypto after three years and place it into a state-managed reserve fund. California has also passed a bill bringing crypto under the state’s unclaimed property laws.
Source: Virginia Gov
Related: Alabama becomes second US state to grant DAOs legal status under DUNA
Virginia sets five-year clock for abandoned crypto accounts
The bill further clarifies when crypto accounts are deemed abandoned, setting a five-year inactivity period unless the owner shows signs of engagement, such as logging in or conducting transactions.
“Some good news out of Virginia,” Paul Grewal, chief legal officer of Coinbase, wrote on X, adding that the law “updates the state’s unclaimed property statute to cover digital assets and ensures they are escheated in-kind.”
Related: West Virginia lawmaker introduces bill to allow state crypto investments
Virginia Blockchain Council previously called the bill “an important step,” claiming that it “helps modernize Virginia’s financial laws and signals the Commonwealth’s continued engagement with emerging technologies.”
Magazine: How crypto laws changed in 2025 — and how they’ll change in 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. Read our Editorial Policy https://cointelegraph.com/editorial-policy
US-listed spot Bitcoin exchange-traded funds bounced back to notable daily inflows as Goldman Sachs entered the Bitcoin ETF sector.
Spot Bitcoin (BTC) ETFs recorded $411.5 million inflows on Tuesday, marking the second-largest daily inflows in April so far, according to SoSoValue data.
The fresh inflows pushed total net flows for 2026 into positive territory at roughly $245 million year-to-date, while total assets under management surged above $96.5 billion, the highest since mid-March.
The gains came as Goldman Sachs, once a major Bitcoin critic, filed with US securities regulators to launch a Bitcoin-linked ETF. The move follows Morgan Stanley’s launch of its Morgan Stanley Bitcoin Trust ETF (MSBT) last Wednesday.
Source: Eleanor Terrett
BlackRock, Morgan Stanley expand inflow streaks
No US spot Bitcoin ETF recorded outflows on Tuesday, with BlackRock’s iShares Bitcoin Trust ETF (IBIT) leading the inflows at roughly $214 million, according to Farside data.
Both IBIT and Morgan Stanley’s MSBT extended their inflow streaks to five days, totaling around $696 million and $84 million, respectively.
Daily spot Bitcoin ETF flows (in millions of dollars) from April 8. Source: Farside
The ARK 21Shares Bitcoin ETF (ARKB) and the Fidelity Wise Origin Bitcoin Fund (FBTC) were among the significant contributors on Tuesday, with inflows of $113 million and $45 million, respectively.
Inflows across all altcoin ETFs, including Dogecoin
The positive trend spread across all US-listed altcoin ETFs on Tuesday, with spot Ether (ETH) ETFs recording $53 million in inflows.
XRP (XRP) funds notably increased inflows at $11 million, while Solana (SOL) saw minor gains of just over $1 million.
The trend also extended to Dogecoin (DOGE) ETFs, which saw around $187,000 inflows, bringing cumulative inflows to around $9.2 million.
While it remains to be seen whether the rebound is sustainable, overall sentiment has slightly improved in recent days, with the Crypto Fear & Greed Index rising above a score of 20 this week.
Source: Alternative.me
The price of Bitcoin also hit a multi-week high on Tuesday, briefly rising above $75,000 for the first time since March 17. It later pulled back below $74,000, trading at $73,852 at publishing time, according to CoinGecko.
Magazine: Your guide to surviving this mini-crypto winter
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. Read our Editorial Policy https://cointelegraph.com/editorial-policy
Artificial intelligence in banking is often discussed in broad, strategic terms. But in payments, the real story is becoming far more practical.
In this conversation, Radha Suvarna, Chief Product Officer for Payments at Finastra, outlines where AI is already delivering measurable value — not as a future concept, but as a set of tangible use cases embedded into everyday operations.
The first area is fraud detection.
While fraud detection has long been a core capability in payments, AI is significantly improving its effectiveness. Advanced models are now better at identifying anomalies in transaction patterns, helping banks detect fraud earlier and reduce losses. Just as importantly, these improvements are enhancing customer experience. Fewer legitimate transactions are incorrectly flagged, reducing unnecessary friction for users.
Closely linked is sanction screening.
This has always been a regulatory requirement, but it has historically created challenges — particularly around false positives. When legitimate payments are flagged incorrectly, customers are forced through time-consuming investigations. AI models are now helping to reduce these false positives by improving accuracy, ensuring that genuine transactions are processed smoothly while maintaining compliance standards.
A third key area is operations, particularly in payment processing.
Even in highly automated environments, a small percentage of transactions still require manual intervention — often referred to as payment repair. These cases typically involve data mismatches or missing information, requiring operations teams to investigate and resolve issues manually.
AI is now streamlining this process.
Using conversational interfaces and historical data analysis, operations teams can identify the root cause of issues more quickly and receive suggested resolutions. What previously took several minutes per transaction can now be reduced significantly, improving efficiency and enabling faster responses to customers.
These use cases are becoming increasingly important as the payments landscape evolves.
The rise of real-time and immediate payments is removing the margin for delay. Transactions must be processed within seconds, leaving no room for manual review cycles. As a result, AI-driven models are becoming essential to maintaining both speed and accuracy.
At the same time, AI is playing a role in system resilience.
By detecting anomalies in system performance before failures occur, AI can help prevent outages and improve overall availability. This proactive approach allows banks to address issues before they impact transactions, supporting the always-on expectations of modern payment systems.
What emerges from these examples is a clear shift.
The value of AI in payments is not defined by whether it fits a specific category, such as generative AI. Instead, it is measured by its ability to deliver practical improvements — reducing costs, improving efficiency, and enhancing customer experience.
Investors who thrive on bitcoin’s BTC$74,184.38 wild price swings may be in for disappointment. Major banks are preparing to introduce new products that could dampen volatility in a market that has already become significantly calmer in recent years.
Most recently, Goldman Sachs filed an application for a Bitcoin Premium Income exchange-traded fund (ETF). The proposed fund relies on selling (writing) options tied to bitcoin-linked exchange-traded products to generate income while providing investors with exposure to the cryptocurrency. BlackRock is looking to launch a similar product.
Selling options is essentially writing insurance against price swings. The writers collect a premium in exchange for providing downside or upside protection, while being exposed to potentially significant losses if the market moves sharply. Traders often use covered strategies — holding the underlying asset or ETFs while writing options — to partially offset risk.
If approved, the ETFs may employ similar covered options strategies to generate yield, though the exact structures will vary by product.
Whatever the case, the net impact would be calmer market conditions. That’s because when options are sold in large numbers, dealers or market makers who take the other side of these trades end up with long positions. To manage their risks, these entities then dynamically hedge by buying the underlying asset on declines and selling on rallies. This dynamic is called hedging the positive gamma exposure, and it tends to restrain volatility.
In addition, the availability of yield-generating institutional-grade products may suck capital away from pure speculative bets, further lowering realized volatility over time. Bitcoin’s implied volatility has been declining for three years, primarily due to the growing popularity of options-selling strategies.
Today bitcoin BTC$74,184.38 has pulled back to $74,000 after hitting highs near $76,000 on Tuesday. The CoinDesk 20 Index has dropped over 1% in 24 hours.
A firm breakout is expected to happen if the U.S. stock indexes hit new record highs.
“If Bitcoin is looking for external signals, it may remain indecisive until key US stock indices hit new highs. However, we are more inclined to believe that the first cryptocurrency’s stagnation is a sign of a fragile risk appetite that will soon manifest in the broader market,” Alex Kuptsikevich, chief market analyst at the FxPro said in an email.
In the meantime, the IMF flashed a warning on the rising global debt, strengthening the bull case in bitcoin. Stay alert!
Read more: For analysis of today’s activity in altcoins and derivatives, see Crypto Markets Today . For a comprehensive list of events this week, see CoinDesk’s “Crypto Week Ahead.”
What’s trending
Today’s signal
Bitcoin’s daily chart showing the 100-day simple moving average. (TradingView)
Bitcoin is struggling to rise past its 100-day simple moving average, a widely watched technical level that reflects the average closing price over the period.
This pattern is reminiscent of mid-January, when sellers regained control at the 100-day average and stalled the recovery. Bitcoin saw a sharp decline in the days that followed.
The question now is whether history will repeat itself, or if this time the level finally gives way, paving the way for faster gains to $80,000 and higher.
Revolut Business has launched a new service enabling UK-based firms to hire, onboard and pay international talent as they expand into new markets.
Editorial
This content has been selected, created and edited by the Finextra editorial team based upon its relevance and interest to our community.
The administrative burden of decoding local tax and compliance rules remains a significant hurdle for businesses wanting to enter overseas markets.
A recent independent survey by Revolut Business found that over a quarter (27%) of UK businesses are held back by the complexity of local regulatory compliance. Revolut’s GlobalHire platform allows firms to bypass the complex process of setting up local entities, while automating taxes and payroll on a single platform integrated into the Revolut Business app.
Alex Codina, general manager of merchant payments and GlobalHire at Revolut, comments: “A business’s ambition shouldn’t be limited by where it is headquartered, nor by local currency barriers. GlobalHire goes beyond recruitment; it’s designed to remove administrative friction to hiring for talent obsessed, global firms, while ensuring CFO’s maintain control over capital and compliance.
“We want businesses globally to have access to the same resources to fuel hyper-growth as Revolut did. Launching GlobalHire is a major milestone in our mission to democratise access to global talent, ensuring that the best companies can hire the best talent, regardless of geography.”
The latest bet from Revolut follows a period of significant momentum for the fintech’s business banking arm, which now serves close to 800,000 global businesses and surpassed £277bn ($365bn) in transaction volumes in 2025.
Bitcoin BTC$74,014.44 shot to a one-month high above $75,000 in early U.S. trading hours on Tuesday, now up 6% over the past 24 hours at $75,300.
The move is drawing increased attention from analysts, who told CoinDesk the level could mark a key shift in the market’s current rangebound structure.
“A clean break above $75,000 wouldn’t just be another move higher; it would represent a structural breakout from consolidation and likely shift the market into a new upward trend,” said Mati Greenspan, founder of Quantum Economics and a former senior market analyst at eToro.
Greenspan said the significance of going beyond the $75,000 level lies less in a brief move about it and more in whether bitcoin can sustain those gains.
“The key question isn’t whether we briefly trade above $75,000, but whether we can hold it,” Greenspan said, noting that acceptance above that threshold would signal strength and draw in new capital.
A downside would be limited anyway
However, he said, a failure to hold would risk turning the move into a bull trap, though the broader market structure remains strong. He also believes that even in a negative scenario, the downside would likely be limited because of existing established support. “If it doesn’t hold, then we still have strong support at $65,000.”
Kevin Murcko, a crypto analyst and founder and CEO at crypto exchange Coinmetro, said round-number levels like $75,000 can act as focal points for market participants and could create supply as investors who recently entered positions look to take profit.
“Traders, especially those that aren’t that experienced, generally trade around round numbers,” Murcko said, adding that levels such as $25,000, $50,000 and $75,000 tend to draw in buying and selling interest.
Whether bitcoin can move decisively beyond that level will depend on the broader backdrop at the time, including the news flow driving markets, Murcko said.
“In most cases, if we see news pushing price to around $75,000, that same momentum can push it past,” Murcko said, emphasizing that price levels alone are less important than the balance between supply and demand and the strength of buying pressure.
BTC could rise to $85,000
Han Tan, chief market analyst at Bybit Learn, said bitcoin is now re-entering a key battleground between bulls and bears, with the $75,000 region acting as a strong resistance in recent weeks.
He believes a meaningful break above that level would draw sidelined buyers back into the market and potentially clear the path upward to the mid-$80,000 level. However, Tan said such gains would likely depend on a supportive macro backdrop, including easing geopolitical tensions and continued ETF inflows.
Other analysts, however, believe $75,000 may be more of a psychological milestone than a genuine structural pivot.
Dessislava Ianeva, an analyst at Nexo Dispatch, said that while a move above $75,000 could draw in momentum buyers, stronger confirmation would come at higher levels.
She said, “$75,000 is psychologically significant, but $79,000 is the level that matters structurally,” pointing to the 100-day moving average and a prior rejection zone. Ianeva also said a sustained move above roughly $74,000 on a daily closing basis would provide an early signal that the breakout has “structural legs.”
The market intelligence research analyst noted that current market positioning appears relatively stable, reducing the likelihood of a sharp reversal. Funding rates remain muted, and bitcoin has absorbed recent selling pressure, including exchange-traded fund (ETF) outflows, without breaking lower, a behaviour that is not typical of a market on the verge of a major pullback.
U.S. Spot bitcoin ETFs did not see inflows until March, when these investment instruments recorded $1.32 billion in net inflows, ending a four-month outflow streak.
Altering how bitcoin behaves
Broader structural changes in the market may also be altering how bitcoin behaves during the current cycle, according to Jason Fernandes, a market analyst and AdLunam co-founder.
“Bitcoin isn’t trading like a purely retail-driven cycle,” Fernandes said, citing persistent ETF inflows, reduced free float and stronger holder cohorts.
Fernandes said that while BTC can still see sharp downside moves during liquidity shocks, it tends to recover based on expectations around central bank policy and liquidity conditions, often ahead of traditional risk assets.
“Rising oil prices and geopolitical stress keep inflation expectations elevated and delay policy easing,” he said. “That tightens financial conditions in the short term, but once real yields roll over or liquidity stabilizes, crypto tends to reprice quickly and generally ahead of traditional risk assets.”
Bitcoin held above $74,000 on Wednesday as a wave of risk appetite swept through global markets, with Asian equities joining Wall Street benchmarks in fully recouping losses sustained since the US-Iran conflict began in late February.
Ether gained 4% on the week to trade near $2,325, outpacing bitcoin’s 3.9% move. Solana dropped 1.5% to $83, Cardano’s ADA fell 1%, while dogecoin fell 1.3% to $0.093. Tron bucked the trend with a 3% weekly gain.
China’s CSI 300 became the latest gauge to fully erase war-related declines, joining Taiwan and Singapore. The S&P 500 is closing in on its record high from late January.
Optimism that the US and Iran will enter a second round of talks in the coming days has kept crude oil below $100 a barrel, easing the inflationary overhang that weighed on markets through March.
The current bitcoin price sits near the estimated average entry price for holders of U.S. spot bitcoin ETFs, a level that could act as a floor rather than a ceiling. Investors who held through the drawdown below $60,000 have little incentive to sell at breakeven, removing a layer of potential overhead supply.
U.S. spot ETFs posted $471 million in net inflows on April 6, their strongest single-day intake since February, pushing cumulative inflows past $56 billion since the products launched in January 2024 – a move some watchers say is reflective of bullish market structure.
“This is bullish for adoption even though it’s no self-custody,” said Vikrant Sharma, founder of CakeWallet.
“Institutions pouring in $471 million in a single day and pushing past $56 billion cumulative means bitcoin is getting a whole new class of long-term holders. Self-custody wallets selling off is just natural profit-taking, but the fact that it’s not leading to price collapse is a very bullish sign,” he added.
Market participants are also pricing in the possibility of Federal Reserve rate cuts later this year, a development that would channel additional liquidity into risk assets after months of range-bound trading.
