Bitcoin trades below the profitability threshold for active holders, with early signs of BTC demand offering limited price support for now. Bitcoin (BTC) hit range highs above $76,000 on Wednesday, but Glassnode analysts say data suggest that calling for the start of a new bull market is premature. New capital inflows have stayed weak, with Bitcoin’s growth rate remaining negative across all 105 trading days in 2026, highlighting a gap between stable price action and limited new demand. Glassnode analyst CryptoViz.art uses the true market mean (TMM) to estimate the average cost basis of active BTC investors. The metric divides investor capitalization by liveliness-adjusted circulating supply, filtering out inactive coins and the lost supply. Read more
Bitcoin attempted to recover the $75,000 level as US stocks chase after a second day of fresh all-time highs. Is the bull market back on? Bitcoin (BTC) treaded water at Thursday’s Wall Street open as the S&P 500 reached new all-time highs. Key points: Bitcoin stays locked on $74,000 after its local highs preceded a new record for the S&P 500. Read more
The CEO of the troubled Zonda exchange has disclosed a Bitcoin wallet holding around 4,500 BTC, but said the private keys were never transferred during a company handover. Crypto exchange Zonda said a cold wallet holding around 4,500 Bitcoin is currently inaccessible as the platform faces concerns over delayed withdrawals. Zonda CEO Przemysław Kral posted a video statement on Thursday disclosing the exchange’s wallet address, saying the private keys to the wallet were never handed over. In the statement, Kral denied accusations of misappropriating funds, saying the private keys were intended to be handed over by Zonda founder and former CEO Sylwester Suszek, who has been missing since 2022. Read more
The Drift Protocol will use the $150 million to relaunch and restore user funds following a $280 million exploit earlier in April. Stablecoin issuer Tether, the company behind USDt (USDT), said Thursday it will back a $150 million recovery program for the Drift Protocol decentralized exchange (DEX) following an exploit of the platform in April. The recovery plan for the $280 million Drift Protocol exploit includes $127.5 million from Tether, with the rest coming from undisclosed partners, according to Tether’s announcement. Tether said: The Drift Protocol platform will “contribute directly” to the ongoing recovery of user funds as the platform resumes normal trading activity. Read more