Bitcoin faced strong resistance at the $74,500 level, but the shallow price pullback could set the stage for a stronger breakout in BTC and altcoins. Key points: Bitcoin turned down from the $74,000 level, indicating that the bears remain sellers on rallies. Several major altcoins are showing strength and are likely to break above their immediate resistance levels. Read more
According to the Bloomberg Intelligence strategist, the oil shock and rising volatility across commodities and crypto may foreshadow a broader correction in equities. As the conflict involving Iran drags on and global energy supplies risk prolonged disruption, most financial assets are likely to behave like risk assets, according to Bloomberg Intelligence strategist Mike McGlone in a recent interview with Cointelegraph. Despite major price swings across commodities, stock market volatility has remained relatively low, a divergence McGlone considers unsustainable. Historically, such imbalances tend to resolve through increased volatility in equities — often during broader market corrections. That unusual volatility dynamic is also showing up in gold, a market traditionally viewed as a safe haven. Read more
The non-profit organization said the goal is to make Ethereum so decentralized that it could function even if the foundation ceases to exist. The Ethereum Foundation, the non-profit organization that stewards the development of the Ethereum ecosystem, published its mandate on Friday, reaffirming its role and the core pillars of Ethereum. The Ethereum Foundation’s two stated goals are that Ethereum remains decentralized and that users have a “final say” over their onchain assets and data, while the protocol achieves mass scale, according to the mandate. Censorship resistance, open source code, privacy, security, and freedom-preserving technology are the core properties of Ethereum that will be upheld, the mandate, the document said. Read more
Ether’s road to recovery looked clearer, especially if the balance in Ethereum accumulation wallets and the staked supply continue rising at their current pace. Ether (ETH) traded about 30% below its yearly open of $2,990, as traders grow increasingly risk-averse amid a global conflict and macroeconomic uncertainties. Still, stronger network usage and increasing inflows into ETH accumulation addresses could provide a spark that may see the price finally break $2,200 resistance. Key takeaways: Read more
The USDt-settled contracts allow traders to speculate on the price movements of the two companies’ shares around the clock without owning the underlying stocks. Crypto exchange KuCoin has launched equity-linked perpetual derivatives tied to stocks, including Tesla and Strategy, allowing traders to speculate on their price movements through USDt-settled contracts that trade around the clock. According to Friday’s announcement, the first listings include TSLAUSDT and MSTRUSDT perpetual contracts, which track price movements in the underlying equities but do not grant ownership of the shares. Instead, the products are synthetic derivatives settled in stablecoins. The contracts have no expiration date and can be traded continuously. Positions can be opened with as little as 1 USDt (USDT), lowering the entry threshold for traders seeking exposure to equity-linked price movements through a crypto trading platform. Read more