Investors selling across spot, futures and ETF markets pushed Bitcoin into its monthly range lows near $72,000 but data shows retail investors buying the dip and opening longs. When Bitcoin (BTC) finally escaped from its channel pattern and secured a multiple-day close above the $77,000 resistance, traders rejoiced and declared the downtrend over. Fast-forward to the present and BTC has fallen below multiple support levels and appears at risk of retesting $70,000, a 16% decline from its range highs. Read more
Gemini is leaning into AI features for its prediction market, following other crypto exchanges in moving beyond crypto trading amid a market slump. Crypto exchange Gemini has partnered with Elon Musk’s SpaceXAI to launch an artificial intelligence-powered feature for its prediction markets platform that will allow users to curate personalized feeds. Gemini said on Thursday that its “Command Center” offering would show markets based on users’ open positions and watchlists, and can track crypto, sports, commodities, politics, economics and culture. “Rather than forcing you to dig through social feeds to find what's relevant, Command Center meets you where you are,” Gemini said. “It learns from your open positions, watchlists, and prediction history to surface the intelligence most likely to inform your next move.” Read more
Bulls abandon ship as SOL futures open interest dropped 30% in May. With the price weakening near $80, Solana may be destined for new lows. Solana (SOL) futures dropped sharply in May as traders reduced leveraged exposure across all exchanges. SOL open interest (OI) dropped to $1.90 billion on Thursday from $2.75 billion on May 11, a 30% decline, while funding rates remained close to neutral. The combination points to weakening investor sentiment as SOL eyes a retest of its yearly low at $68. The aggregated funding rate for Solana futures held near -0.005, showing balanced positioning between longs and shorts. SOL traders have not built aggressive directional bets despite the recent price slide to $80. Read more
The investment firm said nation-states and central banks are increasingly turning to assets like Bitcoin and gold as alternative settlement systems outside of US control. Recent moves by the Iranian government to Bitcoin for oil tolls as gold overtakes US dollar assets in global central bank reserves signals a “shift away from dollar-based systems,” according to crypto financial services company Fidelity Digital Investments. Tehran's acceptance of BTC for oil shipments passing through the Strait of Hormuz represents the emergence of “alternative settlement mechanisms,” according to the company’s just-released "Six Key Trends Shaping Digital Assets in 2026" report. Accepting Bitcoin for shipping toll payments is evidence that the biggest cryptocurrency could replace the US dollar as the global reserve currency because of its neutral, confiscation-resistant and decentralized properties, supporters of BTC say. Read more