Summary
gm, Bitcoin recovered above $105,000 after briefly dipping below $100,000 following US airstrikes on Iran. Despite market turbulence that triggered over $600 million in long position liquidations, institutional confidence remained strong with CoinShares reporting $1.24 billion in inflows to crypto investment products last week. On the regulatory front, Coinbase secured a MiCA license allowing it to operate across all 27 EU member states, while Texas became the third US state to establish a Bitcoin reserve after Governor Greg Abbott signed legislation allocating $10 million for Bitcoin purchases. Corporate Bitcoin adoption continued to accelerate with Grant Cardone's real estate firm acquiring 1,000 BTC ($101 million) and payment processor Fiserv announcing plans to launch a Solana-based stablecoin (FIUSD) for instant bank and merchant transfers.

News Headlines
đŸ“± Blockchains May Finally Free Banks from COBOL

  • The banking system's reliance on outdated COBOL programming causes significant delays in payment processing, with 43% of global banking still using these legacy systems for 80% of in-person transactions.
  • JPMorgan's deposit coin on Coinbase's BASE blockchain and Fiserv's upcoming stablecoin represent significant steps toward modernizing financial infrastructure and reducing dependence on outdated batch-processing systems.

🐋 Ethereum Whales Open $100M of Leveraged Bets After US Strikes Iran

  • A notable Ethereum whale opened a leveraged long position exceeding $101 million with an entry price of $2,247, despite having to pay over $2.5 million in funding fees.
  • This bullish bet came as 64% of cryptocurrency traders are shorting Bitcoin and Ether amid geopolitical uncertainty, suggesting whales have a contrarian outlook on Ethereum's potential recovery.

📊 Bitcoin Becomes Less Volatile Than Stocks in the Iran-Israel Conflict

  • Bitcoin's 60-day realized volatility has decreased to 27-28%, now lower than both the S&P 500 (30%) and Nasdaq 100 (35%), indicating Bitcoin's maturation as an asset class.
  • Long-term holders now control a record 14.53 million BTC, creating a tighter supply while institutional demand grows, with analysts predicting Bitcoin could reach $150,000 by the end of 2025.

📈 Coinbase Target Price Raised After 'Transformative Week': Benchmark

  • Benchmark analyst Mark Palmer raised Coinbase's price target from $301 to $421 following regulatory developments including securing the MiCA license and the passage of the GENIUS Act for stablecoins.
  • Coinbase has already earned $300 million in stablecoin revenue (15% of total sales), with these regulatory advancements expected to further bolster the company's growth prospects and revenue diversification.

đŸ“± Solana-based Stablecoin to Settle Merchant and Bank Transfers Instantly

  • Payment processor Fiserv is launching FIUSD, a dollar-backed stablecoin on the Solana blockchain, designed for instant bank and merchant transfers across their system that already processes $90 billion annually.
  • The initiative follows the U.S. Senate's passage of the GENIUS Act, creating a regulatory framework for stablecoins, and will be interoperable with PayPal's PYUSD to enhance cross-border payment efficiency.

Market Metrics

Fundraising & VC
1. Veda (Undisclosed, $18M) - DeFi engine for financial apps
2. GTE (Series A, $15M) - Decentralized trading platform
3. Concrete Protocol (Strategic, $9.5M) - DeFi liquidity metalayer
4. Sphinx (Pre-Seed, $2M) - Institutional-grade commodity derivatives exchange

Regulatory
🔧 Senate Shifts Focus to Crypto Market Structure Bill

  • The Senate's digital assets subcommittee is holding a hearing to discuss a bipartisan framework for regulating crypto markets, following the successful passage of the GENIUS Act for stablecoins.
  • Representatives from Coinbase and Multicoin Capital will testify as lawmakers work to draft legislation that could complement the House's CLARITY Act.

đŸš« Democrats Introduce Bill to Limit Trump's Crypto Activities

  • Senator Adam Schiff and nine Democratic lawmakers have introduced the COIN Act to prevent public officials from endorsing or investing in cryptocurrencies during and after their tenure.
  • The legislation specifically targets President Trump's connections to the cryptocurrency industry, including his family's financial interests in World Liberty Financial.

đŸ’” India Maintains Strict Crypto Tax Regime in 2025 Budget

  • India's Union Budget 2025 keeps the 30% flat tax on cryptocurrency profits and the 1% Tax Deducted at Source (TDS) on transactions exceeding 10,000 rupees.
  • The budget introduces mandatory reporting for cryptocurrency transactions in a dedicated Income Tax Return section called Schedule VDA.

🏭 Bitcoin Mining Firm Canaan Launches US Production

  • Bitcoin ASIC manufacturer Canaan has initiated pilot production in the US while discontinuing its AI hardware business to focus on core cryptocurrency operations.
  • Although US production costs are higher, Canaan views this move as essential for reducing reliance on tariffs and enhancing long-term resilience.

🔒 CoinMarketCap Exploit Drains 76 User Wallets

  • A security vulnerability on CoinMarketCap's website allowed attackers to insert a malicious pop-up that led to significant losses for users.
  • The exploit used a "doodle image" containing malicious code, exploiting JavaScript injection through Lottie animation JSON files.

Technical Analysis
Bitcoin - Bitcoin is within an approximate horizontal trend channel in the short term. This indicates that investors are uncertain and waiting for signals of further direction. A break upwards will be a positive signal, while a break downwards will be a negative signal. The currency is moving within a rectangle formation between support at 101158 and resistance at 108492. A decisive break through one of these levels indicates the new direction for the currency. The currency has support at points 102000 and resistance at points 110000. RSI diverges negatively against the price, which indicates danger of a reaction downwards. The currency is overall assessed as technically neutral for the short term.

Ethereum - Ethereum has broken down from an approximate horizontal trend channel in the short term after investors have sold at ever lower prices. A negative signal has been triggered and further decline for the currency is indicated. The currency is approaching resistance at 2490 points, which may give a negative reaction. However, a break upwards through 2490 points will be a positive signal. Volume tops and volume bottoms correspond well with tops and bottoms in the price. This weakens the trend break. The currency is overall assessed as technically negative for the short term.