Babylon advances native Bitcoin DeFi with faster peg-ins and self-custodial borrowing tools
The crypto market showed mild strength on Wednesday as investors reacted to regulatory optimism, ETF activity, and mixed altcoin performance. The total crypto market capitalization climbed 0.68% over the last 24 hours to reach $2.57 trillion.
Bitcoin investors are closely watching whether the market established its bottom in early February, when BTC briefly dropped near $60,000 before recovering above $77,000. While no indicator can confirm a definitive market bottom, several key onchain and derivatives metrics suggest the worst phase of the correction may already be over.
Bitcoin's ETF flows just absorbed its first serious macro shock in seven weeks, and last week's Bitcoin ETF outflows could constitute a temporary capital retreat or the opening move of a broader institutional de-risking cycle.
A popular crypto analyst believes Bitcoin's (BTC) price is heading much lower based on one key indicator. In a new market update, Benjamin Cowen tells his 993,000 YouTube subscribers that Bitcoin remains in a bear market after hitting resistance at the the 200-day simple moving average (SMA).
The crypto market remained cautious on Wednesday as Bitcoin struggled to regain momentum after failing to break above the $83,000 resistance level last week. BTC traded near $77,400, posting a modest 0.7% gain over the past 24 hours, although the leading cryptocurrency is still down roughly 5% on the week.
The stablecoin issuer completes purchase of SoftBank's position in Twenty One Capital.
Bitcoin (CRYPTO: BTC) is down 6% since revisiting its 200-day moving average near $82,000 earlier this month, but K33 Research argues February's $60,000 bottom still marks this cycle's maximum drawdown. Current Pattern Looks Different From 2014, 2018, 2022 K33 Head of Research Vetle Lunde pointed out that Bitcoin spent 189 days between the November 200-day MA breakdown and May retest—far longer than the 96, 132, and 85 days seen in prior cycles.
Wall Street futures traded in positive territory Wednesday morning as market participants prepared for Nvidia's highly anticipated first-quarter financial results, scheduled for release after trading concludes.
Earlier, analysts at Bernstein and BitMEX co-founder Arthur Hayes also projected Bitcoin to reach new record highs in 2026.
Trump Media & Technology Group withdrew SEC registration statements for Truth Social Bitcoin and Bitcoin-Ethereum ETF products, stepping back before launch. Yorkville America pointed to a shift from a 1933 Act structure toward a 1940 Act framework, citing broader strategic flexibility. The move lands in a crowded Bitcoin ETF market with $57.
World Gold Council CEO David Tait says Bitcoin (CRYPTO: BTC) is going to zero, calling it “pure instinct” with no reasoning behind the view. Gold Council CEO: Bitcoin Doesn't Offset Risk Assets Tait explained on Tuesday that Bitcoin correlates with risk assets during crises instead of offsetting them as intended.