Bitcoin fell below 63,000 as investors reacted to dismal US economic data, a weakening stock market and fears of an AI industry bubble. Does data forecast a return to $90,000 by March? Key takeawys: Bitcoin fell below $63,000 as weak US job data and concerns over AI industry investments fueled investor risk aversion. Options markets show a 6% chance of Bitcoin returning to $90,000 by March. Read more
European tokenization companies urged EU lawmakers to quickly amend the DLT Pilot Regime, warning that current limits risk pushing onchain markets to the US. A group of European tokenization operators has urged EU policymakers to swiftly amend the bloc’s DLT Pilot Regime, warning that current asset limits, volume caps and time-limited licenses are preventing regulated onchain markets from scaling as the United States advances toward industrial-scale tokenization and near-instant settlement. In a joint letter coordinated ahead of an upcoming parliamentary debate, tokenization and market infrastructure companies Securitize, 21X, Boerse Stuttgart Group, Lise, OpenBrick, STX and Axiology called for targeted changes to the DLT Pilot Regime, the EU’s regulatory sandbox for tokenized securities markets. The companies said the EU’s broader Market Integration and Supervision Package sets the right long-term direction, but warned that existing constraints are already limiting the growth of regulated tokenized products ...
Gemini, a US-based cryptocurrency exchange founded in 2015, will focus on growth in the United States due to its deep capital markets. Crypto exchange Gemini announced its exit from the United Kingdom, European Union and Australia markets on Thursday, as the company slashed its workforce by 25%. Gemini cited artificial intelligence automating labor and making engineers “100x” more efficient, and a more challenging business environment in the UK, EU and Australia, as reasons for the exit, according to Thursday’s announcement: “We don’t have the demand in these regions to justify them. The reality is that America has the world’s greatest capital markets,” the announcement said. Read more
Bitcoin touched new lows under $64,000 as market selling reached a historic level, and analysts warn that the bottom is not in. Does data support analysts’ sub-$60,000 prediction? Bitcoin (BTC) has fallen 13% over the past four days, sliding to $63,844 from $79,300. It is currently trading below $69,000, which is the 2021 bull market high, a level many see as a support level. The drop was matched by a sharp decline in futures activity, with BTC’s open interest falling by more than $10 billion over the past seven days. Analysts are now focusing on the long-term technical zones and onchain indicators that may signal a major turning point for BTC. Read more