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Bitcoin’s (BTC) impressive rally to a new all-time high of $126.1k has sharply reversed, impacted by significant macroeconomic stress and a massive $19 billion futures deleveraging event, as reported by [Glassnode]( This deleveraging is one of the largest in history, prompting a reset phase in the market characterized by flushed leverage, cautious sentiment, and a dependency on renewed demand for recovery. Market Dynamics and On-Chain Data The reversal in Bitcoin’s price, which fell below the critical $117k–$114k cost-basis zone, has left many top buyers in loss, revealing underlying market fragility. On-chain data indicates a continued distribution by Long-Term Holders (LTH)…

A Bitcoin wallet linked to Chinese mining pool LuBian has awakened after more than three years of dormancy, transferring nearly $1.3 billion worth of BTC just 24 hours after the U.S. Department of Justice (DOJ) announced one of the largest crypto forfeiture cases in history, which the firm was allegedly linked to.Blockchain analytics firms Lookonchain and Arkham Intelligence tracked the movement of 9,757 BTC, which is worth around $1.1 billion, to several new addresses. Hours later, an additional 2,129 BTC (about $238 million) was transferred, bringing the total to 11,886 BTC, now valued at over $1.3 billion.Source: Arkham Intelligence However,…

The non-fungible token (NFT) market showed early signs of recovery after a steep sell-off wiped out about $1.2 billion in market capitalization during the crypto market crash on Friday. According to CoinGecko data, the sector’s overall valuation fell from $6.2 billion on Friday to $5 billion on Saturday. This erased almost 20%, or about $1.2 billion, in market capitalization for digital collectibles across all blockchain networks. The sector experienced a rapid recovery as crypto markets rebounded. On Sunday, NFTs reached $5.5 billion, marking a 10% gain following the crash. At the time of writing, the overall market cap was almost $5.4 billion.The…

Coinbase has agreed to invest in CoinDCX, one of India’s largest crypto exchanges, in a transaction that remains subject to regulatory approvals and other customary closing conditions, according to statements published Wednesday by Coinbase Chief Business Officer Shan Aggarwal and CoinDCX co-founder and CEO Sumit Gupta.Aggarwal framed the move as a long-term bet on India and the Middle East’s role in the onchain economy, citing population scale, rising tech adoption and a large base of crypto users. He said the commitment builds on earlier support through Coinbase Ventures and aligns with Coinbase’s expanding local operations and partnerships. Aggarwal also highlighted…

In an era where trust in traditional institutions is waning, the evolution of markets into advanced information systems is gaining momentum. This transformation, characterized by the rise of prediction markets and the decentralization of data, offers a new form of credibility, according to a16z crypto editorial. Addressing the Knowledge Problem The concept of markets as information systems is not new. Friedrich Hayek, decades ago, highlighted the ‘knowledge problem,’ where no single planner can access the dispersed, tacit knowledge embedded in individual experiences. The solution, as Hayek proposed, lies in decentralization. Markets leverage prices to compress local knowledge into signals, aligning…

Key takeawaysGemini is a research assistant for summarizing data and analyzing text, not a financial adviser for predicting prices.The quality of your research output depends entirely on the specificity and structure of your prompts.A repeatable workflow involves deconstructing a project’s fundamentals, analyzing its economics and mapping its competitive landscape.Always verify AI-generated information with primary sources like official websites, white papers and blockchain explorers.Proper setup and operational security are crucial, especially when using API keys to connect to external data.The cryptocurrency market can feel overwhelming. White papers, complex tokenomics and endless social chatter create a flood of information. The challenge for…

Good Morning, Asia. Here’s what’s making news in the markets:Welcome to Asia Morning Briefing, a daily summary of top stories during U.S. hours and an overview of market moves and analysis. For a detailed overview of U.S. markets, see CoinDesk’s Crypto Daybook Americas.China Renaissance’s reported plan to raise $600 million for a BNB-focused investment vehicle, with Binance founder Changpeng Zhao’s YZi Labs investing alongside, may look like a straightforward bet on Binance’s ecosystem. But Singapore-based market maker Enflux argues it’s something deeper: a signal that Asian institutions are building a different kind of crypto exposure than their Western counterparts.“Regional capital…

A sudden tariff announcement from U.S. President Donald Trump sent shockwaves through global markets on October 10, triggering one of the largest single-day selloffs in crypto history. The pledge to impose 100% tariffs on Chinese imports sparked panic selling, forcing more than $19 billion in leveraged crypto positions to unwind in just 24 hours.Data from Coinglass shows that over 1.6 million traders were liquidated, with nearly 87% of positions being long. The event marked a rare moment where macro policy news spilled directly into digital asset markets, erasing billions in open interest within hours and pushing Bitcoin below $105,000 before a…

The Trump administration is reportedly “leaning toward a pardon” for Binance co-founder Changpeng “CZ” Zhao, who pleaded guilty to money laundering charges in 2024 and spent four months in prison. According to New York Post columnist and Fox correspondent Charles Gasparino, sources close to Zhao said that Trump insiders believe the case against CZ was “pretty weak, and certainly not something that merited a felony charge and jail time.”“Trump… is leaning toward a pardon (consider the source), which could set the stage for CZ’s return to the crypto exchange since he remains Binance’s largest shareholder,” he said, citing people close…

Tether CEO Paolo Ardoino said in a post on X on Sunday that “Bitcoin and Gold will outlast any other currency,” a minimalist line that aligns with how the stablecoin issuer has positioned parts of its reserves over the past two years.On May 17, 2023, Tether said it would regularly allocate up to 15% of net realized operating profits to purchase bitcoin for reserves, adding BTC to surplus rather than using it to back circulating USDT one-for-one. The company framed the move as strengthening its balance sheet with a long-term store of value. BTC and gold as parallel pillarsGold sits…