Author: dfmines

Babylon Labs also unveiled the Babylon Genesis mainnet, a layer one blockchain powered by its native token “baby.” Seventy Chains and Counting: Bitcoin Staking Expands With Mainnet Launch and New Integration Four-billion-dollar bitcoin staking protocol Babylon and blockchain interoperability platform Axelar announced on Thursday, an integration that will provide self-custodial bitcoin ( BTC) staking to […]

Bitcoin has begun showing early signs of recovery following a recent correction that saw the asset fall to $74,000 earlier this month. At the time of writing, Bitcoin trades above $82,000, inching closer to the $85,000 range with its market capitalization now sitting above $1.6 trillion. A recent market report from CryptoQuant outlines several contributing factors to this rebound. According to the firm, crypto price volatility remained high throughout the week, fueled by trade tensions and macroeconomic developments. Prices dipped sharply earlier in the week after retaliatory tariffs were introduced by China and the European Union. However, they began recovering on April 9 following the tariff suspension. The temporary policy reduced tariffs to 10% for most countries, while China remained subject to a 125% rate. Related Reading: Is The Bitcoin Bottom In After Trump’s Tariff Pause? Here’s What To Expect Bitcoin Technical Support and Market Sentiment CryptoQuant’s report also emphasized the importance of Bitcoin’s 365-day moving average (MA), which currently stands at $76,100. This level has previously served as a key technical support in historical market cycles, including in August 2024, July 2021, and December 2021. The recent bounce from this level is being closely monitored as a potential base for a renewed uptrend. A breach below this moving average, however, would increase the likelihood of Bitcoin entering a bearish phase. Despite this positive movement, investor sentiment remains subdued. CryptoQuant noted in the report: Nevertheless, although market sentiment has improved after the tariff pause, Bitcoin remains in one of its least bullish phases since November 2022, according to CryptoQuant’s Bull Score Index. The Index is now at 10—its lowest reading since that time—signaling continued weak investor sentiment and a low probability of a sustained rally in the near term. According to the firm, a longer-term rally is unlikely unless the score climbs above 40.  Furthermore, with BTC’s price currently on the rise, CryptoQuant mentioned that the asset could find resistance at $84,000 and $96,000—zones historically linked to the Trader Realized Price, which has served as both support and resistance in different market phases. Altcoin Accumulation Signal Emerges In a separate commentary, CryptoQuant analyst Darkfost presented data that may indicate favorable conditions for altcoin accumulation. The analyst observed that the 30-day moving average of trading volume for altcoins paired with stablecoins has dropped below its annual average. This market behavior, according to Darkfost, has previously marked buying zones, with the last occurrence seen in September 2023. The analysis suggests that while Bitcoin’s near-term outlook remains uncertain, altcoins may be entering a phase conducive to dollar-cost averaging (DCA) strategies. Related Reading: Ethereum Long-Term Holders Show Signs Of Capitulation – Prime Accumulation Zone? Darkfost cautioned that these windows can last for weeks or months but have historically aligned with the early stages of altcoin market recoveries. If the macroeconomic environment stabilizes and capital flows return, these conditions could lead to broader participation across the crypto sector. Featured image created with DALL-E, Chart from TradingView

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The US Securities and Exchange Commission (SEC) and crypto exchange Binance have asked a US federal judge for an additional two-month pause in their nearly two-year legal battle.“Since the Court stayed this case, the Parties have been in productive discussions, including discussions concerning how the efforts of the crypto task force may impact the SEC’s claims,” both parties said in an April 11 joint status report with the US District Court for the District of Columbia.SEC requests Binance to agree to the extensionAccording to the filing, the SEC requested and Binance agreed to another 60-day extension as the regulator continues to seek permission to “approve any resolution or changes to the scope of this litigation.” “The Defendants agreed that continuing the stay is appropriate and in the interest of judicial economy,” the filing said.The request comes not long after the SEC dropped a string of crypto-related lawsuits against crypto exchanges Coinbase, Kraken, and Gemini, as well as Robinhood and Consenys.At the end of the 60-day period, the SEC and Binance plan to submit another joint status report. This marks the second 60-day pause the SEC and Binance have requested this year, following a previous extension granted by the judge on Feb. 11.The recently launched crypto task force was a key reason behind the request for the second extension. Source: CourtListenerThe request in February came just days after crypto skeptic Gary Gensler stepped down as SEC chair on Jan. 20, with crypto-friendly SEC commissioner Mark Uyeda taking over as acting chair.At the time, the SEC and Binance also cited the establishment of the SEC’s Crypto Task Force as a reason for the pause.Related: Crypto Biz: Ripple’s ‘defining moment,’ Binance’s ongoing purgeFormed just a day after Gensler resigned on Jan. 21, the task force said it aims to “help the Commission draw clear regulatory lines, provide realistic paths to registration, craft sensible disclosure frameworks, and deploy enforcement resources judiciously.” The SEC’s legal battle with Binance has dragged on for almost two years. It began in June 2023 when the agency filed a lawsuit against Binance, its US platform, and CEO Changpeng “CZ” Zhao.The US regulator pressed 13 charges against Binance, including unregistered offers and sales of the BNB and Binance USD tokens, the Simple Earn and BNB Vault products, and its staking program.Magazine: Memecoin degeneracy is funding groundbreaking anti-aging research

Meanwhile, a crypto-focused life insurance startup that collects payments and pays life insurance policies in bitcoin has raised $40 million in its Series A funding round. Led by Framework Ventures and Fulgur Ventures, with the participation from Xapo founder Wences Casares, the round gives Meanwhile a valuation of $190 million. Zac Townsend, co-founder and CEO […]

According to a recent X post by seasoned crypto analyst Ali Martinez, Ethereum (ETH) may have already gone through its capitulation phase for this market cycle. Notably, the second-largest cryptocurrency by market cap is down more than 55% over the past year. Is Ethereum Capitulation Over? Unlike Bitcoin (BTC) and altcoins such as XRP, Solana (SOL), and SUI, Ethereum has endured a challenging two-year stretch. The cryptocurrency was trading at $1,892 exactly two years ago, on April 11, 2023, and is now priced around $1,560 – over 17% lower. Related Reading: Is Ethereum Repeating Its 2020 Trend Reversal? Analyst Predicts ETH To ‘Explode’ In Q2 2025 In contrast, BTC has surged from approximately $41,000 two years ago to $82,127 at the time of writing – an increase of nearly 100%. While SOL currently trades below its April 2023 price, unlike ETH, it did manage to reach a new all-time high (ATH) of $293 earlier this year in January. Understandably, sentiment toward ETH – among both retail and institutional investors – is hovering near all-time lows. However, Martinez believes that “smart money” may be accumulating at current levels, anticipating a near-term reversal. The analyst pointed out that Ethereum’s Entity-Adjusted Dormancy Flow has recently dropped below one million. Martinez added: This historically indicates a macro bottom zone, meaning $ETH might be undervalued and long-term holders are less inclined to sell. It also suggests: sentiment is low, capitulation may have occurred, smart money might be accumulating. For the uninitiated, Ethereum’s Entity-Adjusted Dormancy Flow is an on-chain metric that compares the market cap to the dormancy – the average age of ETH being moved – adjusted for unique entities instead of raw addresses. The metric helps identify whether the market is overheated or undervalued by tracking the behavior of long-term holders. If ETH follows historical trends, it may be approaching a momentum reversal. In a separate X post, crypto trader Merlijn The Trader suggested that Bitcoin Dominance (BTC.D) is nearing a peak, which could shift capital into altcoins and trigger a short-term rally. At the time of writing, BTC.D stands around 63.5%. A potential pivot by the US Federal Reserve toward quantitative easing (QE) could inject fresh liquidity into the market, possibly sparking a mini altcoin rally. ETH Demands Cautious Optimism While there are multiple signs that ETH may be close to bottoming out, some indicators suggest that there could be continued weakness for the digital asset before any meaningful momentum shift. Related Reading: Analyst Spots Key Ethereum Resistance Levels While RSI Hints At Bullish Divergence In a recent analysis, Martinez warned that ETH could fall as low as $1,200 if the current sell-off continues. Further, ongoing capital outflows from US-based spot Ethereum exchange-traded funds (ETF) remain a concern for the asset’s short-term outlook. That said, crypto analyst NotWojak recently noted that ETH may be on the verge of a breakout, with a potential upside target of $1,835. At press time, ETH is trading at $1,557, down 2.3% in the past 24 hours. Featured image created with Unsplash, charts from X and TradingView.com

Bitcoin has seen modest upward momentum in the past 24 hours, climbing back above $83,000 following a recent correction period. The move comes shortly after US President Donald Trump announced a temporary 90-day pause on tariffs, offering a degree of relief to global financial markets. Though the asset remains down approximately 24% from its all-time high of over $109,000 set in January, its recent decline has now been trimmed to single digits on a weekly scale. This recovery coincides with increased interest from large-scale Bitcoin holders. Related Reading: Analyst Compares Trump’s Market Impact to Obama Era as Bitcoin Sees Momentum $3.6 Billion Inflows Suggest Renewed Institutional Activity On April 9, accumulation addresses—wallets associated with long-term investors that rarely distribute funds—received a notable 48,575 BTC, according to on-chain data shared by CryptoQuant analyst Burak Kesmeci. This inflow, the largest since February 2022, totaled approximately $3.6 billion in value. The timing, according to Kesmeci, is significant: it mirrors a similar event from the past, both in scale and macroeconomic backdrop. Kesmeci emphasized that these accumulation wallets typically increase holdings during market pullbacks. The April 9 transaction occurred when Bitcoin traded around $76,000, a level tested during last week’s sell-off triggered by concerns over renewed trade tensions. The volume and pattern of inflows suggest a recurring strategy among institutional or long-term market participants whereby they capitalize on corrections and accumulate during uncertainty. Interestingly, the total value of the inflows—$3.6 billion—matches that of February 1, 2022, another period marked by broader macroeconomic instability. While this could be coincidental, Kesmeci noted that the repetition of such behavior in response to macro-driven price declines may indicate a deeper behavioral trend among accumulation address holders. Massive $3.6 Billion Bitcoin Inflow to Accumulation Addresses! “Bitcoin accumulation addresses received 48,575 BTC — the largest single-day inflow since February 1, 2022. When accumulation addresses move this aggressively, it’s worth paying attention.” – By @burak_kesmeci pic.twitter.com/MVIFUcXKWz — CryptoQuant.com (@cryptoquant_com) April 10, 2025 Bitcoin Whales Increase Reserves Despite Weak Network Activity Adding to the accumulation narrative, another CryptoQuant analyst known as caueconomy noted that whale wallets—addresses holding large BTC balances—have resumed consistent buying since March. According to caueconomy, more than 100,000 BTC has been added to whale reserves in that timeframe. This comes despite the subdued on-chain activity and a visible pullback in retail participation. The distinction between investor profiles has become clearer in recent months. While smaller investors appear to be withdrawing amid heightened market uncertainty, large holders are taking advantage of lower prices to strengthen their positions. Related Reading: Bitcoin Battles Tariff Turmoil: Can the 2-Year Realized Price Hold the Line? The strategy, according to caueconomy, aims to reduce average acquisition costs and position for long-term gains. This divergence in behavior may not translate to immediate price shifts but could set the stage for a more pronounced upward move once broader sentiment recovers. Featured image created with DALL-E, Chart from TradingView