Arizona is on the verge of becoming the first state to regulate cryptocurrency with two significant bills awaiting the governor’s approval. If passed, these laws could position Arizona as a
If approved by the governor, Arizona could become the first state to solidify the regulation of crypto and digital assets on the frontier.
Digital asset investment products saw $3.4 billion in inflows last week, the largest since mid-December 2024 and ranking as the third-biggest weekly inflow ever recorded. CoinShares’ Head of Research James Butterfill suggested the shift is driven by mounting fears of tariffs impacting corporate earnings and the steep decline of the US dollar. As such, Investors appear to be turning to digital assets, viewing them as a potential safe-haven option amid growing economic instability. Bitcoin Leads Weekly Inflows; Ethereum Makes a Comeback According to the latest edition of ‘Digital Asset Fund Flows Weekly Report ,’ Bitcoin investment funds dominated last week’s activity as they attracted $3.18 billion in inflows and boosted total digital asset assets under management to $132 billion. Interestingly, this figure is the highest since late February. Short-Bitcoin products also registered $1.6 million in inflows, indicating some investors had positioned for a potential drawdown in Bitcoin as its price climbed above $90,000. Ethereum reversed its downtrend with $183 million in inflows after eight consecutive weeks of outflows. Solana, on the other hand, was the only altcoin to see investor pullback, with $5.7 million in outflows. This has pushed its monthly total into negative territory at $13.9 million. Other altcoins saw minimal action, with Sui and XRP standing out, drawing $20.7 million and $31.6 million, respectively, during the same period. Multi-asset investment products also gained traction with $2.4 million in inflows. A similar sentiment was seen across Blockchain equities as investors also poured $17.4 million, with notable interest in exchange-traded funds (ETFs) tied to Bitcoin mining operations. Global Sentiment Remains Positive In terms of region, US investors led the charge in digital asset investments last week and contributed $3.3 billion in inflows. Positive sentiment extended globally, with Germany and Switzerland seeing notable inflows of $51.5 million and $41.4 million, respectively. Australia followed suit with $4.9 million, while Sweden attracted $4.2 million. Hong Kong recorded modest gains of $0.3 million. However, not all regions saw growth – Canada and Brazil recorded a minor investor pullback, with outflows of $1.6 million and $0.6 million. The post Investors Flood Digital Asset Funds With $3.4B: 3rd-Highest Weekly Total on Record appeared first on CryptoPotato .
Ethereum price started a downside correction below the $1,780 level. ETH is now consolidating near the $1,800 zone and might aim for a move above $1,820. Ethereum started a downside correction and traded below the $1,765 level. The price is trading above $1,770 and the 100-hourly Simple Moving Average. There is a connecting bearish trend line forming with resistance at $1,815 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a fresh increase if it clears the $1,820 resistance zone. Ethereum Price Eyes Fresh Gains Ethereum price remained stable above the $1,725 level and started a fresh increase, like Bitcoin . ETH traded as low as $1,746 and climbed back above the $1,770 resistance level. There was a move above the 23.6% Fib retracement level of the downward move from the $1,857 swing high to the $1,746 low. The bulls even pushed the price toward the $1,800 resistance . However, there was no close above the $1,800 resistance. The price was rejected near the 50% Fib retracement level of the downward move from the $1,857 swing high to the $1,746 low. There is also a connecting bearish trend line forming with resistance at $1,815 on the hourly chart of ETH/USD. Ethereum price is now trading above $1,770 and the 100-hourly Simple Moving Average. On the upside, the price seems to be facing hurdles near the $1,800 level. The next key resistance is near the $1,820 level. The first major resistance is near the $1,850 level. A clear move above the $1,850 resistance might send the price toward the $1,920 resistance. An upside break above the $1,920 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $1,950 resistance zone or even $2,000 in the near term. Another Decline In ETH? If Ethereum fails to clear the $1,820 resistance, it could start a fresh decline. Initial support on the downside is near the $1,770 level. The first major support sits near the $1,750 zone. A clear move below the $1,750 support might push the price toward the $1,650 support. Any more losses might send the price toward the $1,620 support level in the near term. The next key support sits at $1,550. Technical Indicators Hourly MACD – The MACD for ETH/USD is gaining momentum in the bullish zone. Hourly RSI – The RSI for ETH/USD is now above the 50 zone. Major Support Level – $1,770 Major Resistance Level – $1,820
Crypto market watchers are buzzing about a significant on-chain metric: the Bitcoin supply on exchanges has plunged to levels not seen in seven years. This development, highlighted by data from analytics firm CryptoQuant, suggests a major shift in investor behavior and could have profound implications for the future price trajectory of the world’s leading cryptocurrency. What Does a 7-Year Low in Bitcoin Supply on Exchanges Mean? According to CryptoQuant data, the total amount of Bitcoin held on major centralized crypto exchanges dropped to a remarkable 7-year low of 2.488 million BTC on April 25th. While the figure has slightly rebounded to 2.492 million BTC since then, it remains near this historic trough. But why is this specific number causing such a stir? Think of centralized exchanges like temporary holding bays or trading floors for cryptocurrencies. When a large amount of Bitcoin sits on these platforms, it’s often seen as readily available supply for selling. Conversely, when the supply decreases significantly, it implies that holders are moving their BTC off exchanges. This action is typically interpreted in a few key ways: Long-Term Holding (HODLing): Investors are moving their Bitcoin to personal wallets (cold storage or hardware wallets) with the intention of holding it for the long term, rather than keeping it on an exchange for immediate trading or selling. Increased Self-Custody: Growing awareness of the risks associated with keeping funds on exchanges (like hacks, platform insolvency, or regulatory actions) encourages users to take control of their private keys. Reduced Selling Pressure: Less Bitcoin available on exchanges generally means less supply readily available to meet selling orders, which can reduce downward price pressure. Anticipation of Price Rise: The act of moving BTC off exchanges is often a vote of confidence, suggesting holders expect the price to increase in the future and want to secure their assets away from trading platforms. Is This a Sign of an Impending Supply Shock? The concept of a supply shock is frequently discussed in relation to Bitcoin , especially following halving events that reduce the rate of new BTC creation. A supply shock occurs when demand significantly outstrips the available supply, potentially leading to rapid price appreciation. The shrinking amount of Bitcoin supply on exchanges is a crucial component of this narrative. Here’s how the low exchange supply contributes to the supply shock potential: Fixed Total Supply: Bitcoin has a hard cap of 21 million coins. This inherent scarcity is its foundational economic principle. Reduced New Supply: Halving events cut the block reward for miners, slowing down the rate at which new BTC enters circulation. Increasing Illiquid Supply: A growing amount of Bitcoin is held in wallets that show little to no history of spending or moving coins, indicating long-term holding. The movement off crypto exchanges adds to this illiquid supply. Potential for Rising Demand: Factors like institutional adoption (e.g., Bitcoin ETFs), increasing global uncertainty, or growing retail interest can drive up demand for Bitcoin . When you combine fixed supply, reduced new supply, increasing illiquid supply (driven by movements off crypto exchanges ), and potentially rising demand, you create the conditions ripe for a supply shock . The current low level of Bitcoin supply on exchanges is a strong indicator that a significant portion of the existing circulating supply is being locked away by long-term holders, making it less accessible for immediate purchase on open markets. Historical Context: What Happened Last Time Bitcoin Supply on Exchanges Was This Low? Looking back at the last time the Bitcoin supply on exchanges was this low – around seven years ago – provides interesting context, though it’s crucial to remember that past performance is not indicative of future results. Seven years ago places us roughly in 2017, a period that saw a significant bull run culminating in Bitcoin reaching what was then an all-time high near $20,000 by the end of the year. While correlation doesn’t equal causation, the decrease in exchange supply during that period coincided with strong upward price momentum. This historical parallel reinforces the market’s tendency to view reduced exchange balances as a bullish signal, suggesting accumulation rather than distribution by holders. What Does This Mean for You? Actionable Insights and Considerations While the 7-year low in Bitcoin supply on exchanges is a compelling data point, it’s essential to integrate it into a broader understanding of the market. Here are some takeaways: It’s a Bullish Signal, But Not a Guarantee: This metric strongly suggests that a large number of BTC holders are in accumulation mode and are preparing for potential future price increases. However, market prices are influenced by many factors, including macroeconomic conditions, regulatory news, and overall market sentiment. On-Chain Data is Powerful: Metrics like exchange balances, transaction volumes, and miner behavior provide valuable insights into the underlying health and sentiment of the Bitcoin network, offering a different perspective than just looking at price charts. Consider Self-Custody: The trend of moving BTC off exchanges highlights the importance many investors place on self-custody. If you plan to hold Bitcoin long-term, research and understand how to securely store your private keys off-exchange. Do Your Own Research (DYOR): Don’t base investment decisions solely on one metric. Combine on-chain analysis with technical analysis, fundamental analysis, and an understanding of the broader market environment. The continued decline in Bitcoin supply on exchanges is a powerful testament to the conviction of its holders. It paints a picture of a market where participants are increasingly opting to secure their assets for the long haul, potentially setting the stage for interesting dynamics should demand continue to grow. The fact that the Bitcoin supply on exchanges has hit a 7-year low is more than just an interesting statistic; it’s a reflection of evolving investor psychology and market structure. As fewer BTC sit readily available on trading platforms, the potential for supply-side constraints in the face of rising demand becomes more pronounced. While the path of Bitcoin’s price is never certain, this significant on-chain development provides compelling evidence of strong underlying holder confidence and reinforces the long-term bullish case for the digital asset. To learn more about the latest Bitcoin trends, explore our article on key developments shaping Bitcoin price action.
Legendary investor Ray Dalio has said the world is “on the brink” of the global monetary order breaking down, which is being accelerated by the Trump administration’s tariff disruptions. The trade tensions are fracturing the monetary, political and international world orders by fueling deglobalization and unsustainable trade imbalances, Dalio, the former CEO of hedge fund Bridgewater Associates, said in an April 28 X post. Dalio added that this is leading to irreversible damage, and an increasing number of importers and exporters, particularly between the US and China, are drastically reducing interdependencies and “making alternative plans.” “[They’re] recognizing that whatever happens with tariffs, these problems won't go away, and that radically reduced interdependencies with the US is a reality that has to be planned for.” Source: Ray Dalio Dalio said America’s role as the world’s largest consumer of manufactured goods and the largest debt issuer is looking increasingly unsustainable, and the idea that trade partners would continue selling to the US and receive dollars was “naive thinking.” As a result, more countries may increasingly bypass the US by forming new trade networks that rely on alternative currencies. While Dalio didn’t suggest which monetary alternative would eat into the dollar’s dominance, he has championed “hard money” assets like Bitcoin ( BTC ) and gold during times of global uncertainty. Less fighting, more coordination The billionaire called for more calm and coordinated action from the US to address the trade imbalances and become more self-sufficient. Dealing with the US government debt problem head-on would lead to much better results than the “path that we appear to be on,” Dalio said. “Unfortunately, thus far we haven’t seen the better ways and have instead seen disturbing fighting and volatility that are teaching lessons that are leading to irreversible bad consequences.” Dalio advised investors and policymakers to redirect their attention away from day-to-day market moves and policy announcements to deal with these “big fundamental changes” in world order. Related: Bitcoin’s safe-haven appeal grows during trade war uncertainty China has been hit hardest by the Trump administration’s tariffs, with a 145% duty on all imports, while the US’ neighbors, Canada and Mexico, were slapped with a 25% tariff on most goods. Several key Bitcoin mining manufacturing countries, such as Thailand, Indonesia and Malaysia, have also been hit with respective rates of 36%, 32% and 24%, which has already impacted machine imports into the US. Magazine: Financial nihilism in crypto is over — It’s time to dream big again
In a significant move for the cryptocurrency sector, U.S. Commerce Secretary Howard Lutnick announced on April 29th that the U.S. government will offer its full support for the domestic Bitcoin
Bitcoin price is consolidating gains above the $94,000 zone. BTC is showing positive signs and might aim for a move above the $95,500 resistance zone. Bitcoin remained supported above the $93,500 zone. The price is trading above $94,000 and the 100 hourly Simple moving average. There is a connecting bullish trend line forming with support at $94,200 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could start another increase if it clears the $95,500 zone. Bitcoin Price Eyes Key Upside Break Bitcoin price remained stable above the $93,500 level and started a fresh increase . BTC was able to climb above the $94,000 and $94,200 resistance levels. The bulls were able to pump the price above the $95,200 resistance. The recent high was formed at $95,488 and the price started a downside correction. There was a drop below the $94,500 and $94,200 levels. The price dipped below the 50% Fib retracement level of the upward move from the $92,900 swing low to the $95,488 high. However, the bulls were active near the $93,500 support and the 76.4% Fib retracement level of the upward move from the $92,900 swing low to the $95,488 high. Bitcoin price is now trading above $94,200 and the 100 hourly Simple moving average . There is also a connecting bullish trend line forming with support at $94,200 on the hourly chart of the BTC/USD pair. On the upside, immediate resistance is near the $95,250 level. The first key resistance is near the $95,500 level. The next key resistance could be $96,250. A close above the $96,250 resistance might send the price further higher. In the stated case, the price could rise and test the $97,500 resistance level. Any more gains might send the price toward the $98,800 level. Another Decline In BTC? If Bitcoin fails to rise above the $95,500 resistance zone, it could start another downside correction. Immediate support on the downside is near the $94,200 level and the trend line. The first major support is near the $93,500 level. The next support is now near the $92,900 zone. Any more losses might send the price toward the $92,500 support in the near term. The main support sits at $91,200. Technical indicators: Hourly MACD – The MACD is now gaining pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level. Major Support Levels – $94,200, followed by $93,500. Major Resistance Levels – $95,250 and $95,500.
Bitcoin (BTC) continues to hover in the mid-$90,000 range, posting modest gains over the weekend following reports that China has exempted certain US-based products from a 125% tariff rate. However, the leading cryptocurrency now faces a critical resistance level that could determine its near-term price trajectory. What Do On-Chain Metrics Indicate? In a recent CryptoQuant Quicktake post, on-chain analyst BorisVest noted that BTC has entered a stagnation phase as short-term holders have begun realizing profits. The contributor warned that if this ongoing profit-taking is not fully absorbed, it could trigger a fresh wave of selling. Related Reading: Bitcoin Must Clear This Critical Cost Basis Level For Continued Upside, Analyst Says BorisVest also highlighted that BTC exchange reserves – which had been depleting at a significant rate until last week – are now starting to stabilize. As a result, enhanced selling pressure could emerge for the apex cryptocurrency. The analyst added that both BTC inflows and outflows on crypto exchanges are currently balanced, suggesting a neutral market state. Moreover, while short-term holders were previously selling at a loss, they have now entered profitable territory. The Spent Output Profit Ratio (SOPR) has risen to 1.04, indicating that investors who bought BTC at recent lows – possibly around $76,000 earlier this month – are now cashing out. For those unfamiliar, SOPR measures the profit or loss of Bitcoin transactions by comparing the price at which coins were originally acquired to the price at which they are now spent. A SOPR value above 1 signals that holders are selling at a profit, while a value below 1 indicates they are selling at a loss. Additionally, the current SOPR metric reveals increased selling activity with rising prices, suggesting that BTC whales and institutional investors are likely taking profits. The Net Realized Profit and Loss (NRPL) metric supports this view, having sharply rebounded from about $2 billion in realized losses to $3 billion in realized gains. Bitcoin Faces Critical Resistance – Can BTC Continue Its Rally? According to the post, Bitcoin now faces significant resistance at $96,000. If BTC manages to break through this level with strong volume and momentum, it could turn this resistance into a new support base and continue its rally. Related Reading: Bitcoin Following Gold’s Footsteps? Analyst Sets Mid-Term Target At $155,000 Conversely, a failure to decisively break through $96,000 could stall Bitcoin’s rally and potentially trigger a price pullback toward the $80,000 range. Therefore, monitoring BTC’s price behavior around this critical resistance level will be crucial. That said, Bitcoin’s apparent demand has recently shown a sharp momentum shift, reigniting hopes for a sustained rally that could lead to a new all-time high. At press time, BTC is trading at $93,972, up 0.3% over the past 24 hours. Featured image from Unsplash, charts from CryptoQuant and Tradingview.com
The post FTX News: Lawsuits Filed to Recover Assets and Boost FTX Repayment appeared first on Coinpedia Fintech News Even after FTX collapse, the exchange isn’t stepping out of the spotlight. In the latest FTX News update, the bankrupt crypto exchange has launched a legal offensive to recover assets in a fresh effort to speed up FTX repayments. According to a new press release on PR Newswire , FTX has filed lawsuits against NFT Stars Limited and KUROSEMI INC., the company behind Delysium. FTX claims these firms failed to deliver specific tokens that rightfully belong to its estate, even after multiple reminders and negotiation attempts. With out-of-court talks failing, FTX is now seeking court orders to force the return of the disputed assets. More Lawsuits on the Horizon The legal push may just be getting started. FTX has warned that more lawsuits are coming, targeting other token and coin issuers who are allegedly holding onto assets. The exchange is actively reaching out, but if companies fail to cooperate, they can expect swift legal action. The message is loud and clear: hand over the assets or prepare for a courtroom battle. On the other side, Crypto analyst Eva Lenoir throws shade at FTX’s legal move, sarcastically calling it a “sheriff” act. She questions where this energy was when Sam Bankman-Fried was mishandling users’ funds, suggesting the lawsuits against NFT Stars and Delysium come far too late to matter. Moreover, she also believes that the real losers are small investors who’ll bear the cost. She contrasts the chaos with Bitcoin, calling it strong, unshaken, and still shining. Why FTX Is Ramping Up the Pressure The FTX legal team emphasized that every asset recovery counts. Returning these tokens could significantly boost the funds available for FTX repayments to creditors who are still awaiting compensation after the exchange’s catastrophic collapse. While FTX says it prefers to resolve matters amicably, it has made it clear it will not hesitate to pursue aggressive legal remedies if needed. In its mission to maximize FTX repayments, the collapsed exchange is taking no prisoners. Lawsuits are now firmly on the table, and more companies could soon find themselves in FTX’s crosshairs. FAQ What happened to FTX? FTX collapsed in November 2022 after it was revealed that the company misused customer funds and faced a massive liquidity crisis. This led to bankruptcy, legal investigations, and major losses for users and investors. How are FTX lawsuits connected to FTX repayment efforts? FTX lawsuits aim to recover missing crypto assets from companies and individuals. These recovered assets will directly contribute to increasing the FTX repayment pool for creditors. What caused the FTX collapse? The FTX collapse was caused by alleged fraudulent practices, poor financial management, and misuse of customer deposits. When these issues came to light, users rushed to withdraw funds, exposing the company’s insolvency. Why is FTX suing companies like NFT Stars and Delysium? FTX claims that these companies failed to deliver tokens that were supposed to be transferred to its estate. After unsuccessful attempts to settle the matter outside of court, FTX is now pursuing legal action to recover these assets.