In the fast-evolving world of cryptocurrency and technology, staying ahead of the curve is paramount. Amazon’s unveiling of Alexa+ signals a potentially revolutionary shift in how we interact with technology daily. Imagine an AI companion so intuitive it anticipates your needs, seamlessly managing everything from dinner reservations to home repairs. This isn’t science fiction; it’s Amazon’s vision for Alexa+, a sophisticated consumer agent designed to redefine convenience and efficiency. Let’s dive into what this means for the future of AI and our digital lives. What is Alexa Plus and Why Should You Care About Consumer Agents? Amazon’s latest innovation, Alexa+, is not just another voice assistant upgrade; it’s a strategic move into the burgeoning field of consumer agents . But what exactly are agents in the tech world, and why is Amazon betting big on them? Agents Defined : Think of agents as AI models with initiative. Unlike chatbots that react to commands, agents proactively act on your behalf to achieve specific goals. They learn your preferences, access various services, and make decisions autonomously. The Promise of Productivity : The core appeal of agent technology lies in boosting productivity. By automating mundane tasks, these AI assistants free up your time for more important activities. Whether it’s managing schedules, handling shopping lists, or coordinating travel, the potential is vast. Amazon’s Ambition : For Amazon, Alexa+ represents a crucial step in revitalizing its Alexa ecosystem. After years of investment with limited financial returns, the company is banking on AI agents to make Alexa indispensable once again. Unpacking Alexa Plus: Features and Functionality Amazon’s demos of Alexa+ paint a picture of a highly capable consumer agent . Scheduled for preview next month, Alexa+ promises a smoother, more integrated experience. Here’s a glimpse into its capabilities: Key Features of Alexa Plus Smart Shopping and Groceries : Imagine Alexa+ not only creating a grocery list but also ordering items from Amazon Fresh, Whole Foods, and local stores based on your preferences and current needs. Automated Purchases : Never miss a deal again! Alexa+ can monitor prices on Amazon and automatically purchase items when they go on sale, ensuring you get the best value. Seamless Scheduling : From booking spa appointments through apps like Vagaro to making dinner reservations, Alexa+ integrates with various services to manage your schedule effortlessly. Travel and Entertainment : Planning a trip or a night out? Alexa+ can create travel itineraries using Tripadvisor, find concert tickets on Ticketmaster, and even hail an Uber, all autonomously. Intelligent Reminders : Alexa+ can extract key information from emails and event flyers to set reminders, ensuring you never miss important dates or appointments. The Edge Amazon Has in the Consumer Agent Race While the concept of AI agents is gaining traction across the tech industry, Amazon might just have a head start. Several factors position them favorably: Vast Data Resources : Amazon’s years of data collection on shopper habits provide a rich foundation for personalizing the Alexa+ experience. This data is crucial for an effective consumer agent . Extensive Partnerships : Amazon’s established relationships with major tech ecosystems and service providers enable seamless integration for Alexa+, enhancing its functionality and reach. Massive Installed Base : With over 600 million Alexa-compatible devices already in homes, Amazon has a ready-made audience for Alexa+. This existing infrastructure significantly lowers the barrier to adoption. Prime Membership Incentive : Offering Alexa+ for free to Prime members—Amazon’s most loyal customer base—is a strategic move to drive early adoption and gather valuable user feedback. Challenges and Roadblocks for Alexa Plus and Agent Technology Despite the exciting potential, the path to realizing a truly effective consumer agent is fraught with challenges. Alexa+, like other ambitious AI projects, faces significant hurdles: Potential Pitfalls Technical Limitations of AI : Current AI models, even advanced ones, are not infallible. Alexa+ has reportedly faced delays due to AI misbehavior, including incorrect answers and basic operational failures like controlling smart lights. Accuracy and Reliability : As seen with other AI agents like ChatGPT Deep Research and Google’s Gemini, hallucinations and factual errors remain a concern. Ensuring Alexa+ performs reliably and accurately is critical for user trust. User Privacy Concerns : A highly proactive consumer agent requires access to vast amounts of personal data. Addressing privacy concerns and ensuring data security will be paramount for widespread acceptance. Complexity of Integration : Seamlessly integrating with numerous third-party apps and services is technically complex. Maintaining these integrations and ensuring smooth interoperability will be an ongoing challenge. Over-Reliance and Deskilling : There’s a risk that over-dependence on AI agents could lead to deskilling and reduced cognitive engagement in everyday tasks. Balancing convenience with maintaining essential skills is important. Is Alexa Plus Too Good to Be True? Navigating the Hype Amazon’s demos of Alexa+ were undoubtedly impressive, showcasing a polished and seemingly flawless agent technology experience. However, skepticism is warranted. The demos were highly curated, and hands-on testing was limited. We must approach the hype with cautious optimism. Questions to Consider Real-World Performance : How will Alexa+ perform in unscripted, real-world scenarios? Will it consistently deliver on its promises, or will users encounter frequent errors and frustrations? User Experience : Will interacting with Alexa+ feel natural and intuitive, or will it require constant oversight and intervention? The user experience will be a key determinant of its success. Privacy Trade-offs : Are users willing to share the necessary data to unlock the full potential of Alexa+, and are Amazon’s privacy safeguards sufficient to address user concerns? Cost vs. Value : While free for Prime members initially, the standard $19.99 monthly fee is significant. Will the benefits of Alexa+ justify this cost for the average consumer in the long run? The Verdict: A Promising Glimpse into the Agentic Future Amazon’s Alexa+ is undeniably an exciting development in the realm of AI agents . If it lives up to its promises, it could indeed give Amazon a significant lead in the race to create truly helpful and autonomous consumer agents . The potential to streamline our daily lives and boost productivity is immense. However, the real test lies in its real-world performance and user adoption. We eagerly await the opportunity to put Alexa+ through its paces and see if it truly delivers on the agentic dream. For now, Amazon has certainly made a compelling and intriguing play in the agent technology space, one that warrants close attention from anyone interested in the future of AI and personal technology. To learn more about the latest AI agent trends, explore our articles on key developments shaping AI features.
In the fast-paced world of cryptocurrency and global finance, understanding the undercurrents of the forex market is crucial. Just as Bitcoin’s price can be influenced by macro-economic trends, the strength of the US dollar and the fluctuations in Asia FX markets can signal broader shifts in investor sentiment and risk appetite. Recently, we’ve witnessed a fascinating interplay of factors leading to a notable trend: Asian currencies weakening against a resurgent US dollar. This isn’t just about numbers on a screen; it’s about the real-world impact on economies, trade, and potentially even the crypto space. Let’s dive into the dynamics at play and explore why this shift is happening and what it means for you. Why is US Dollar Strength Back in Vogue? For months, the shadow of uncertainty cast by former President Trump’s tariff policies loomed large over global markets. The threat of escalating trade wars and unpredictable economic policies created a risk-averse environment. However, as time has passed and global economic landscapes have evolved, a sense of clarity – or at least a recalibration of expectations – has emerged. This shift in perception is a key driver behind the renewed US dollar strength . But what exactly has changed? Reduced Tariff Uncertainty: While trade tensions haven’t vanished entirely, the immediate fear of new, disruptive tariffs from the US has lessened. This perceived stability, even if temporary, is boosting confidence in the US economy and its currency. Robust US Economic Data: The US economy has shown remarkable resilience, with strong jobs data, consumer spending, and pockets of inflation suggesting underlying economic health. This solid economic foundation makes the dollar a more attractive asset for investors seeking stability and returns. Safe-Haven Appeal: In times of global economic flux, the US dollar traditionally acts as a safe-haven currency. Even with global uncertainties persisting, the dollar’s perceived safety net continues to draw investors, further fueling its strength. Interest Rate Differentials: The Federal Reserve’s monetary policy and expectations around future interest rate hikes also play a role. If the market anticipates higher interest rates in the US compared to other regions, it can increase demand for dollar-denominated assets, pushing the dollar higher. Think of it like this: imagine a ship navigating stormy seas (global economic uncertainty). When the storm clouds (tariff threats) appear to be thinning, and the ship (US economy) shows it’s sturdy and seaworthy, investors are more inclined to stay aboard (invest in the dollar). Asia FX Under Pressure: What’s Causing the Weakness? While the US dollar strength is on the rise, the flip side of the coin is the weakening of Asia FX . This isn’t a uniform decline across all Asian currencies, but a general trend reflecting a complex interplay of regional and global factors. So, why are Asian currencies feeling the pressure? Dollar Dominance: As the dollar strengthens, it naturally exerts downward pressure on other currencies, especially those in emerging markets. Many Asian economies have significant dollar-denominated debt, making a stronger dollar more expensive for them to service. Capital Outflows: A stronger dollar can incentivize capital to flow out of Asian economies and back into dollar-denominated assets. Investors may seek higher returns or perceived safety in the US, leading to selling pressure on Asian currencies. Regional Economic Concerns: Specific economic challenges within Asia, such as slower growth in China, supply chain disruptions, or domestic political uncertainties, can also weigh on regional currencies. These localized issues can amplify the impact of a stronger dollar. Commodity Price Fluctuations: Many Asian economies are heavily reliant on commodity imports. Fluctuations in global commodity prices, often priced in US dollars, can impact their trade balances and currency valuations. For example, rising oil prices can strain economies that are net oil importers, weakening their currencies against the dollar. Consider the example of the South Korean Won or the Indonesian Rupiah. These currencies, and others across Asia, are sensitive to shifts in global risk sentiment and dollar movements. When the dollar gains traction, these currencies often experience depreciation. Trump Tariffs: From Threat to Background Noise? The shadow of Trump tariffs has been a persistent theme in global economics for years. Initially, the imposition of tariffs by the Trump administration on goods from China and other nations sent shockwaves through global trade and financial markets. The uncertainty surrounding future trade policies and the potential for escalating trade wars led to significant currency market volatility and risk aversion. However, the current market reaction suggests a degree of tariff fatigue or adaptation. While the tariffs themselves haven’t necessarily been removed, the market’s perception of their immediate threat has diminished. This could be due to several factors: Market Adjustment: Businesses and supply chains have had time to adjust to the existing tariff regime. The initial shock has worn off, and companies have found ways to mitigate the impact. Focus Shift: Global attention has shifted to other economic and geopolitical concerns, such as inflation, interest rate hikes, and geopolitical tensions in other regions. The tariff issue, while still relevant, may no longer be the dominant market driver. Policy Continuity Expectations: There might be an expectation of policy continuity, or at least a lack of dramatic new tariff escalations, from the current US administration. This perceived stability, even if based on assumptions, can reduce market anxiety. It’s crucial to remember that trade tensions are still a factor, and the global trade landscape remains complex. However, the immediate, acute fear that gripped markets during the height of the tariff disputes seems to have subsided, contributing to the current dollar strength. Navigating Currency Market Volatility: What Does This Mean for You? The interplay of US dollar strength and Asia FX weakness highlights the inherent currency market volatility in the global financial system. For those involved in cryptocurrency, forex trading, or simply monitoring global economic trends, understanding these dynamics is essential. But what are the practical implications and actionable insights we can glean from this? For Investors: A stronger dollar can impact the value of international investments. Dollar-denominated assets may become more attractive, while investments in Asian markets might face headwinds due to currency depreciation. Diversification and hedging strategies become even more critical in such an environment. For Businesses: Companies engaged in international trade, particularly between Asia and the US, need to be mindful of currency fluctuations. Import and export costs can be significantly affected by exchange rate movements, impacting profitability and competitiveness. Currency risk management strategies are vital. For Crypto Enthusiasts: While the direct link might seem less obvious, forex market trends often reflect broader risk sentiment and capital flows. A strong dollar and weaker emerging markets currencies can sometimes signal a risk-off environment, which can indirectly influence cryptocurrency markets as well. Understanding macro-economic factors provides a valuable context for crypto market analysis. For Travelers: Exchange rates directly impact travel costs. A stronger dollar means that US travelers may find it cheaper to travel to Asian countries, while Asian travelers visiting the US might find it more expensive. In essence, understanding currency market dynamics is not just for forex traders; it’s relevant for anyone operating in an increasingly interconnected global economy. Staying informed about factors like tariff policies, economic data, and central bank actions can provide valuable insights for navigating market volatility. Emerging Markets Currencies: Are They At Risk? The weakening of Asia FX is part of a broader trend affecting emerging markets currencies globally. While Asia is a key region, similar pressures are being felt in other emerging economies as well. A strong dollar often creates headwinds for emerging markets due to: Debt Burden: Many emerging market nations hold significant dollar-denominated debt. A stronger dollar makes this debt more expensive to repay in local currency terms, potentially straining government finances and economic stability. Import Inflation: A weaker local currency against the dollar increases the cost of imports, leading to imported inflation. This can put pressure on consumers and businesses, potentially slowing economic growth. Reduced Competitiveness: While currency depreciation can theoretically boost exports by making them cheaper, it can also reduce the competitiveness of domestic industries that rely on imported inputs. The overall impact can be complex and vary across economies. Capital Flight: As mentioned earlier, a strong dollar can encourage capital flight from emerging markets to the US, further weakening their currencies and potentially destabilizing their financial systems. However, it’s important to note that not all emerging markets currencies are equally vulnerable. Countries with strong economic fundamentals, robust foreign exchange reserves, and sound fiscal policies are better positioned to weather periods of dollar strength. The impact varies significantly based on individual country circumstances. Conclusion: The Resilient Dollar and Shifting Global Forex Landscape The current scenario of US dollar strength and Asia FX weakness is a compelling example of the ever-evolving dynamics of the global forex market. The fading uncertainty around Trump tariffs , coupled with robust US economic data and safe-haven demand, has provided a powerful tailwind for the dollar. Conversely, Asian currencies are facing headwinds from dollar dominance, regional economic concerns, and capital flow dynamics. This situation underscores the interconnectedness of global economies and the constant shifts in investor sentiment and risk appetite. As we move forward, monitoring these trends will be crucial. Will the dollar’s strength persist? Will Asian currencies find a footing? The answers will depend on a multitude of factors, including future US economic data, Federal Reserve policy decisions, global geopolitical developments, and the evolving landscape of international trade. For participants in the cryptocurrency and broader financial markets, staying informed and adaptable is the key to navigating this complex and fascinating world. To learn more about the latest Forex market trends, explore our articles on key developments shaping currency market volatility and emerging markets currencies.
Bitwise Asset Management has made headlines by filing for a revolutionary Aptos (APT) ETF trust in Delaware, marking a pivotal moment for altcoin investments in the United States. This filing
Oklahoma is making strides towards potentially becoming the first U.S. state to integrate Bitcoin into its public financial reserves through the Strategic Bitcoin Reserve Act. The proposed legislation, known as
Ripple President Monica Long recently took to X to emphasize the critical importance of institutional adoption of digital assets in South Korea. In her announcement, she unveiled Ripple’s new partnership with BDACS, a leading digital asset custody firm in the region. The collaboration aims to build a robust custody infrastructure for cryptocurrencies like XRP and … Continue reading "Ripple Partners with BDACS to Boost Crypto Custody in Korea" The post Ripple Partners with BDACS to Boost Crypto Custody in Korea appeared first on Cryptoknowmics-Crypto News and Media Platform .
The SEC has concluded its investigation into Gemini without filing any charges. Cameron Winklevoss criticized the SEC for the negative impacts of the investigation. Continue Reading: SEC Closes Gemini Investigation Without Charges, Sparking Industry Debate The post SEC Closes Gemini Investigation Without Charges, Sparking Industry Debate appeared first on COINTURK NEWS .
This move is part of the SEC’s recent trend of dropping or pausing crypto-related cases, including those against Gemini, Coinbase and OpenSea. Gemini co-founder Cameron Winklevoss criticized the SEC’s aggressive stance, and called for reforms to prevent regulatory overreach. Meanwhile, former CFTC attorney Elizabeth Davis suggested that the CFTC is better suited to regulate meme coins, given its focus on fraud prevention. SEC and Justin Sun Request Legal Pause The United States Securities and Exchange Commission (SEC) and Justin Sun requested a federal court to pause the regulator’s case against the crypto entrepreneur to facilitate settlement discussions. A filing was submitted on Feb. 26 to a Manhattan federal court , which stated that both parties “jointly move to stay this case to allow the Parties to explore a potential resolution.” The filing pointed out that pausing the case is in the best interest of both parties while they consider a potential settlement. If granted, the SEC and Sun will be required to submit a joint status report within 60 days. Justin Sun and SEC filing This move is yet another instance of the SEC pausing its enforcement actions against crypto entities under the administration of President Donald Trump. The regulator also stayed or dismissed its cases against major crypto exchanges Binance and Coinbase . Trump has been vocal about his pro-crypto stance, and pledged during his campaign that he plans to reduce regulatory pressures on the digital asset industry and position the United States as the leading hub for crypto innovation. The SEC is reportedly prioritizing crypto cases that have more pressing deadlines, and suggested that it may later stay its lawsuits against Kraken and Ripple, which have upcoming court deadlines in late March and mid-April. The case against Sun dates back to March of 2023, when the SEC filed a lawsuit against him and three of his companies—Tron Foundation, BitTorrent Foundation, and its San Francisco-based parent firm Rainberry Inc. The SEC accused them of selling unregistered securities through the sale of Tron (TRX) and BitTorrent (BTT) tokens. The regulator also alleged that Sun engaged in “manipulative wash trading” of these tokens on secondary markets. Sun wanted to have the lawsuit dismissed by arguing that the SEC lacked jurisdiction over the matter as the token sales were predominantly conducted outside the United States. However, the SEC pushed back that Sun traveled extensively in the US, making him subject to its oversight. Sun’s ties to Trump extend beyond legal battles. In fact, he is the largest investor in Trump’s crypto platform, World Liberty Financial. He first invested $30 million in November to become its primary backer and recently increased his stake with an additional $45 million purchase of the platform’s native token, WLFI. His total investment in the platform now stands at $75 million. SEC Drops Investigation into Gemini The SEC also officially closed its investigation into crypto exchange Gemini. On Feb. 26, Gemini co-founder and president Cameron Winklevoss shared a notice from the SEC stating that, based on the information available, the agency will not be recommending any charges against the firm. However, the SEC still made it clear that this decision does not constitute an exoneration and does not rule out future action should new information emerge. The investigation stemmed from a Jan. 12, 2023, lawsuit in which the SEC accused Gemini and crypto lending firm Genesis Global Capital of offering unregistered securities through the “Earn” program. While the agency’s decision to stop its probe may provide some relief, Winklevoss is still frustrated over the impact the SEC’s actions had on Gemini and the broader crypto sector. He stated that the regulator caused the firm to incur tens of millions of dollars in legal expenses while stifling innovation and economic growth. He also argued that the SEC’s aggressive stance against the crypto industry cost the United States valuable talent and investment. The decision to close the Gemini case happened after similar moves by the SEC over the past few weeks. On Feb. 21, the regulator dropped its case against Coinbase. The same day, it also ended its investigation into NFT marketplace OpenSea. More recently, the SEC withdrew its scrutiny of Uniswap Labs, the developer behind the Uniswap decentralized exchange, and Robinhood Crypto , which received a Wells notice on May 4. Winklevoss described the SEC’s reversal as another milestone in ending what he called the ”war on crypto.” However, he warned that the damage had already been done, as regulatory pressure likely stopped entrepreneurs and projects from entering the industry. To prevent similar incidents in the future, he called for legislative reforms to hold regulatory bodies accountable. He also proposed certain measures like dismissing SEC staff who were involved in baseless enforcement actions, barring them from future agency work, and compensating affected crypto firms for their legal expenses. Overall, he criticized the SEC’s handling of the crypto sector, and argued that it was unacceptable for the agency to aggressively pursue an industry only to drop cases without consequence. While he acknowledged the decision as a positive step, he pointed out that it was only the beginning of ensuring these kinds of regulatory overreach does not happen again. CFTC Could Take Charge of Meme Coin Regulation Other regulators want to take on a more hands-on approach to the crypto space. A former chief attorney at the Commodity Futures Trading Commission (CFTC) believes the agency is best suited to regulate meme coins. Elizabeth Davis, a partner at Davis Wright Tremaine and former CFTC chief trial attorney, stated that the CFTC's focus on protecting retail market participants from fraud and manipulation makes it the ideal choice for overseeing meme coins. The debate over meme coin regulation has intensified over the past few weeks, with former CFTC Chair Chris Giancarlo blaming the SEC for the current lack of order in the market. The SEC’s crypto task force head, Hester Peirce, previously stated that meme coins fall outside the agency’s jurisdiction. Davis suggested that the CFTC’s role will likely depend on broader digital asset regulations, but if the agency gains jurisdiction over the crypto spot market, meme coins will probably fall under its oversight. She is confident that upcoming US digital asset laws will provide clarity on the matter in 2025. Davis also pointed out that the CFTC historically took an expansive approach to defining commodities under the Commodity Exchange Act, making it very likely that meme coins will be classified as commodities under its jurisdiction. The agency’s primary focus in regulating meme coins would be to prevent fraud and market manipulation. Meme coins have been a hot topic in early 2025 due to high-profile launches like US President Donald Trump’s WLF token and the controversial Libra token associated with Argentine President Javier Milei. Because of increasing investor losses , many in the crypto community demanded clearer regulations to prevent reckless speculation. Meanwhile, Zak Folkman , co-founder of Trump’s crypto venture World Liberty Financial, criticized investors for making risky bets on meme coins, and stated that it is unwise to risk one’s life savings on speculative assets. Adding to the controversy, reports from Argentina suggest that the US Department of Justice launched an investigation into the Libra token that was promoted by Milei, which only further intensifies the debate over regulatory oversight of the meme coin market.
Crypto exchange Gemini has announced that the United States Securities and Exchange Commission (SEC) has concluded its investigation into the company without taking any enforcement action. This marks a significant development for Gemini, which has been under regulatory scrutiny for various aspects of its operations. No Enforcement Despite Ongoing Legal Challenges The SEC had been investigating Gemini’s Earn program , which allowed users to earn interest on their cryptocurrency holdings. While this decision provides some relief for the company, Gemini is still entangled in legal battles, including a lawsuit from the New York Attorney General’s Office related to its dealings with the now-bankrupt Genesis Global Capital . In a statement, Gemini shared: “We are pleased to announce that the SEC’s investigation into Gemini has been closed without any enforcement action. We have always maintained our commitment to compliance and transparency.” However, Gemini continues to face regulatory scrutiny due to the Earn program , which led to lawsuits and financial complications when Genesis Global collapsed. What This Means for Crypto Regulation This decision by the SEC could indicate a more measured regulatory approach , rather than blanket enforcement actions. The SEC has aggressively targeted crypto firms, including Ripple, Binance, and Coinbase , but this outcome suggests that regulators may be reconsidering their strategies. For Gemini, the focus will now shift toward legal defenses in other cases and the expansion of its services, including derivatives trading and international offerings .
On Wednesday, Bitcoin (BTC) prices plummeted to a four-month low, reaching as low as $81,000, as the anticipated “Trump bump” in the markets faded. This has prompted investors and traders to hedge against further decreases, with Bitcoin options indicating a notable interest in put options with a strike price of $70,000. Bitcoin Plummets 20% Since Trump’s Inauguration According to data from Deribit, the largest crypto options exchange, this strike price represents the second-highest open interest among all contracts set to expire on February 28, with a total of $4.9 billion in open interest poised to expire by Friday. Related Reading: Solana (SOL) Sees Red—What’s Next for the Price? Since President Donald Trump’s inauguration in January, Bitcoin has experienced a substantial decline of roughly 20% from its record highs. Market analysts attribute this downturn to a combination of factors, including Trump’s “aggressive geopolitical” stance and ongoing concerns about elevated inflation. Chris Newhouse, director of research at Cumberland Labs, noted, “Tariff policies are further dampening the outlook, and stubbornly high short-term inflation expectations add to the overall caution.” Newhouse also highlighted that the Bybit Ethereum (ETH) hack has not only exerted downward pressure on Bitcoin’s price but has also negatively impacted overall market sentiment. Investors Pull Back Amid Declining Demand For ETFs The market has also witnessed a significant liquidation of bullish bets, with around $2 billion wiped out over the past three days, according to data from Coinglass. Bitcoin perpetual futures—a popular method for offshore investors to leverage their positions—saw a sharp decline in long positions during this timeframe. Adding to the bearish sentiment, demand for Bitcoin exchange-traded funds (ETFs) has waned, with the group experiencing approximately $2.1 billion in outflows over the past six days. This reflects a broader trend of investors pulling back, with more than $1 billion withdrawn from spot Bitcoin ETFs on Tuesday alone, marking the largest outflow since these funds debuted in January of the previous year. The Fidelity Bitcoin Fund (FBTC) and BlackRock iShares Bitcoin Trust ETF (IBIT) were among the hardest hit. Related Reading: Avalanche (AVAX) Overextended—Is A Market Shakeup Imminent? Bohan Jiang, head of over-the-counter options trading at Abra, commented, “This is a mix of spot selling and basis unwind. In my view, nearly all of this is from ETF spot outflows from directional traders.” Ethereum has also felt the impact of the Bybit incident, amplifying its volatility, while Solana (SOL) has surrendered gains achieved in recent months amid declining interest in memecoins. The market’s search for a new catalyst to reverse its bearish sentiment has led many investors to remain on the sidelines, rotating out of cryptocurrencies in a risk-off environment. Ravi Doshi, co-head of markets at crypto prime broker FalconX, stated, “The crypto market is still in search of a new catalyst to reverse bearish sentiment.” Currently, BTC is attempting to find support at $84,578, but has fallen another 4.5% in the 24-hour time frame. Featured image from DALL-E, chart from TradingView.com
The bill would allow Oklahoma to invest up to 10% of its public funds into Bitcoin and other digital assets.