Bitcoin mass adoption by institutional investors has resumed, but global instability and the risk of rising US inflation put a lid on BTC’s breakouts above $70,000. Bitcoin’s (BTC) consolidation continued into Thursday as bulls struggled to keep hold of $70,000, and competing narratives on BTC’s market structure versus its increasing institutional adoption clashed with the bearish overarching factors negatively impacting US equity markets. Citing Bernstein’s $150,000 by the end of 2026 price estimate, Bloomberg analysts said that data shows institutional investors returning to the Bitcoin markets in droves, reinforcing the view that BTC had “reached a floor.” In early March, a week-long stretch of inflows to the spot Bitcoin ETFs nearly topped $1 billion, while Strategy purchased 22,237 BTC for $1.6 billion through its new perpetual preferred equity, Stretch (STRC). In addition to the success of STRC, Strategy also unveiled plans to raise capital to buy $44.1 billion in additional Bitcoin. Read more
The crypto exchange has previously been in the crosshairs of Japanese regulators for offering products and services without the proper registration. Japan’s watchdog overseeing many activities for cryptocurrency exchanges, has issued warning letters to companies including KuCoin for conducting certain operations without registering, according to a Thursday update from the Financial Services Agency (FSA). According to the agency’s latest list of entities “conducting financial instruments business without registration,” the FSA said platforms KuCoin, NeonFX, theoption, and GTCFX received a March notice for “soliciting over-the-counter (OTC) derivatives trading via the internet.” Of the four platforms, the FSA listed KuCoin, which is headquartered in the Seychelles, as offering services to Japanese residents, while the others have an international user base. The FSA issued a similar warning to KuCoin and other exchanges, including Bybit, in November 2024 for offering products and services to Japanese residents w...