News & Research

While Bitcoin trades sideways around $87,000, the options market and some analysts are raising the possibility of a further decline, CoinDesk reported. According to options data from Derive, formerly Lyra, BTC's 30-day implied volatility has risen to around 45%. Increased demand for put options suggests traders are bracing for a potential drop below $85,000. Mike McGlone of Bloomberg Intelligence analyzed that the sharp rally that pushed BTC above $100,000 earlier this year may have triggered a cycle that could see it retrace to $10,000 next year. He noted that periods of extreme wealth creation are often followed by sharp downturns. However, some analysts believe BTC's price movements could be influenced by geopolitical risks and the overall leverage environment.

Cryptocurrency exchange Crypto.com has partnered with Singapore's DBS Bank to support deposits and withdrawals in both Singapore dollars (SGD) and U.S. dollars (USD), Tech in Asia reported. Under the partnership, DBS will allow Crypto.com to open client money accounts to hold customer funds separately, a move expected to significantly improve the speed of fund transfers.

Multi-chain Layer 1 blockchain Creditcoin (CTC) has announced a partnership with privacy-focused blockchain Midnight to enhance research into privacy-preserving decentralized identity (DID). The collaboration will combine Creditcoin's on-chain credit history with Midnight's privacy technology to build a model for human authentication based on financial behavior. According to Creditcoin, this initiative aims to develop DID technology capable of defending against sophisticated AI deepfakes and verifying a user's economic activity without exposing sensitive financial data. Midnight is a privacy-centric blockchain project led by Cardano (ADA) founder Charles Hoskinson.

Approximately $300 billion worth of previously dormant BTC has entered the market this year, Wu Blockchain reported, citing K33 Research. The outlet noted that selling pressure from long-term holders over the past 30 days has been the strongest in the last five years. While demand from spot BTC ETFs and institutional crypto investors had previously absorbed a significant portion of this sell volume, the report explained that the situation has changed. A recent decline in ETF inflows, coupled with lower derivatives trading volume and retail investor participation, is now exposing an unstable market directly to the selling pressure from these long-term holders.

Georgy Verbistky, founder of the crypto investment platform TYMIO, stated that Bitcoin is likely to move sideways or undergo a correction in the short term. According to DL News, he said a further decline to $70,000 or $60,000 cannot be ruled out. Verbistky emphasized that in the current situation, it is far more important to remain patient and practice systematic risk management than to chase short-term rallies.

Binance founder Changpeng Zhao has begun a concerted effort to restore his standing in the United States following a pardon from President Trump, Bloomberg reported. The report states that while Zhao has officially stepped back from Binance's management, he is attempting to expand his influence in the U.S., aligning with the Trump administration's pro-cryptocurrency stance. He is reportedly reviewing a capital restructuring of Binance.US and discussing a reduction of his controlling stake, which has been a persistent obstacle. Binance recently reorganized its leadership, appointing co-founder He Yi as co-CEO alongside Richard Teng. He Yi, described as Zhao's common-law spouse, officially announced his retirement at a recent event, but his practical influence is believed to remain. The company is also said to be exploring an expanded partnership with BlackRock and a collaboration with World Liberty Financial (WLFI), a firm founded by the Trump family. Some observers are concerned that Binance may attempt to re-enter the U.S. market using its past aggressive business practices, the report added.

AI blockchain OpenLedger (OPEN) has announced a $5 million grant program to support decentralized AI research. The project has partnered with the Cambridge Blockchain Society at the University of Cambridge for the initiative.

The following are the BTC perpetual futures long/short position ratios over the last 24 hours on the top three cryptocurrency futures exchanges by open interest: Aggregate: Long 49.11%, Short 50.89% 1. Binance: Long 48.9%, Short 51.1% 2. Bybit: Long 49.32%, Short 50.68% 3. OKX: Long 50%, Short 50%

The three major U.S. stock indexes closed mixed. The S&P 500 finished down 0.24% and the Dow Jones Industrial Average fell 0.62%, while the Nasdaq Composite edged up 0.23%.

An address presumed to belong to Lido (LDO) co-founder Konstantin Lomashuk sold 14,585 ETH ($42.71 million) over the past hour, Lookonchain reported.