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‘Bitcoin Has Built Its Own Trust System’

In an X post, Scaramucci emphasized the trustworthiness of Bitcoin, comparing it to the trust people have in fiat currencies.

“A dollar bill is made of linen and cotton. But we accept it because we trust it,” Scaramucci stated. “Over 16 years, Bitcoin has built its own trust system — decentralized, no central authority, no single point of failure.”

“It’s becoming part of the model portfolio for individuals and institutions worldwide,” the financier said.Scaramucci then stressed the oft-repeated scarcity narrative of Bitcoin, i.e, its 21 million supply cap, and the fact that it is “faster to move and easier to store” than gold.

“Every characteristic that has defined money throughout human history — Bitcoin checks every single box,” he noted. “That’s why I’m bullish.”

Not Everyone Agrees

Economist Tony Annett countered Scaramucci’s claim, asserting that Bitcoin fails as a medium of exchange, unit of account, or reliable store of value.

What Data Tells Us

Notably, Bitcoin consistently ranked as the most used cryptocurrency for payments, according to payment processor Coingate, accounting for 44% of all transactions between 2014 and 2025.

Additionally, roughly 39% of U.S. merchants accept cryptocurrency payments, with around 2,300 businesses directly accepting Bitcoin, according to a February report by CoinLaw.

Price Action: At the time of writing, BTC was exchanging hands at $74,499.77, down 1.62% in the last 24 hours, according to data from Benzinga Pro.

Disclaimer: This content was partially produced with the help of and was reviewed and published by Benzinga editors.

Photo Courtesy: Al Teich On Shutterstock

Aave had an especially steep drop in the past 24 hours, down 11% to trade at $90.25. That decline was more pronounced than the crypto market, which slipped by around 2.25% over the same time. The financial move shows a definitive change in investor trends, where capital retreats from higher-risk holdings. This loss has come at a time when overall market sentiment has been slightly off.

Market pulse has turned cautious especially amid the growing geopolitical tensions. Disruptions to major global trade corridors have compounded the uncertainty. The consequence is that funds have increasingly begun flowing back into relatively safer assets in the crypto space. Bitcoin has been a primary beneficiary of this shift, and altcoins have faced increased selling pressure.

Aave Dips Amid rsETH Hack

The recent security incident linked to rsETH has added another layer of pressure. Aave confirmed that rsETH on the Ethereum mainnet remains fully backed by collateral. Still, the protocol has taken precautionary steps. The asset has been frozen across multiple versions of the platform. This includes Aave V3 and V4 deployments.

Update on rsETH incident:

According to our analysis, rsETH on Ethereum mainnet is fully backed.

Out of an abundance of caution, rsETH remains frozen across Aave V3 and V4 and exposure to the incident is capped.

WETH reserves also remain frozen across affected markets including…

— Aave (@aave) April 19, 2026

In addition, the Wrapped Ethereum reserve has been paused in affected markets. These include Ethereum, Arbitrum, Base, Mantle, and Linea.

The decision was taken to prevent further risk as the situation is being evaluated. The team has stated that it is actively considering the issue and working on possible solutions. The attacker forged LayerZero cross-chain messages to withdraw 116,500 rsETH directly from the bridge contract, then deposited the tokens into Aave and other lending platforms to borrow WETH, thus creating significant uncollateralized bad debt risk.

The impact of the incident has been visible in user behavior. A large number of whales have withdrawn funds from the protocol. This price trend appears to be precautionary rather than panic-driven. Yet, it has reduced liquidity within the system. Lower liquidity can increase volatility and make prices more sensitive to selling pressure.

Data from DeFi tracking platforms shows a significant drop in total value locked. Aave’s TVL has declined by over 30% following the incident. It has fallen from around $26.4 billion to nearly $18 billion. This drop is indicative of lower participation and a conservative attitude among users.

The overall market environment has also led to a slump. Ongoing inflows into Bitcoin exchange-traded funds have siphoned liquidity off altcoins. It is common for institutional capital to concentrate on larger and more established assets in times of uncertainty. This trend has limited attempts at recovery for tokens such as Aave.

In the near term, the next decision will be down to very specific price levels. The $90 mark is serving as a major support zone. A holding above this level could help stabilize the price. If selling pressure goes down, a consolidation phase between $90 and $95 may follow. The downside is that any break below $90 could yield further losses. The next support range is between $85 and $87. This zone may interest investors who look for lower entry points. But the overall market slump could delay any significant recovery.

Bitcoin price started a fresh decline from the $78,400 zone. $BTC is consolidating and might struggle to stay above the $73,500 support.

• Bitcoin failed to stay above $76,500 and corrected gains.
• The price is trading below $75,500 and the 100 hourly simple moving average.
• There is a connecting bearish trend line forming with resistance at $75,600 on the hourly chart of the $BTC/USD pair (data feed from Kraken).
• The pair might extend losses if it stays below the $75,500 and $76,000 levels.

Bitcoin Price Dips Again

Bitcoin price failed to stay above the $77,500 resistance zone. $BTC formed a top near $78,350 and started a fresh decline. There was a move below the $76,500 level.

The price dipped below the $75,500 and $75,000 levels. A low was formed at $73,637 and the price is now consolidating losses below the 23.6% Fib retracement level of the downward move from the $78,343 swing high to the $73,637 low.

Bitcoin is now trading below $76,000 and the 100 hourly simple moving average. If the price remains stable above $73,500, it could attempt a fresh increase. Immediate resistance is near the $74,750 level.

The first key resistance is near the $75,500 level. There is also a connecting bearish trend line forming with resistance at $75,600 on the hourly chart of the $BTC/USD pair. A close above the $75,500 resistance might send the price further higher.

In the stated case, the price could rise and test the $76,000 resistance and the 50% Fib retracement level of the downward move from the $78,343 swing high to the $73,637 low. Any more gains might send the price toward the $77,200 level. The next barrier for the bulls could be $78,000.

Downside Continuation In $BTC?

If Bitcoin fails to rise above the $75,500 resistance zone, it could start another decline. Immediate support is near the $74,000 level.

The first major support is near the $73,500 level. The next support is now near the $72,500 zone. Any more losses might send the price toward the $71,200 support in the near term. The main support now sits at $70,000, below which $BTC might struggle to recover in the near term.

Technical indicators:

Hourly MACD – The MACD is now gaining pace in the bearish zone.

Hourly RSI (Relative Strength Index) – The RSI for $BTC/USD is now below the 50 level.

Major Support Levels – $74,000, followed by $73,500.

Major Resistance Levels – $75,500 and $76,000.

Ethereum’s market structure is tightening as staking activity continues to rise, steadily reducing the liquid supply available for trading.

With over 32% of $ETH now staked, a significant portion remains locked, which compresses the tradable float across exchanges. This shift matters because it directly impacts market depth, making order books thinner over time.

As liquidity tightens, price becomes more sensitive to incoming demand, which allows even moderate inflows to drive sharper upside moves. However, this same condition introduces fragility, as thinner liquidity reduces the market’s ability to absorb selling pressure.

If support weakens, downside moves can accelerate quickly, reflecting a structure where supply constraint amplifies both upward and downward volatility.

Demand structure weakens as perpetuals drive momentum

As staking continues to lock supply, the demand side begins to show a different character, where derivatives take the lead instead of spot conviction.

Activity shifts quickly into leveraged markets, with Perpetual Volume rising to $34.74 billion, far above the $14.29 billion Spot Volume, which shows traders prefer speed over stability.

However, Open Interest (OI) fell to around $31.18 billion, down 5.75%, which suggests traders are not building sustained positions but rotating exposure.

Consequently, Funding Rates turned slightly negative, reflecting growing short pressure even as price held. This creates a mixed structure, where some traders position for downside while others chase short-term moves.

As a result, price becomes more reactive rather than stable, implying that users face faster swings, where gains can reverse quickly without strong spot demand to support them.

Order Flow shift signals buyers regaining control

As derivatives continue to drive demand, order flow begins to explain why Ethereum struggled to sustain upside across the cycle.

Selling pressure stayed persistent, with Net Taker Volume deeply negative during key rallies, including around -$511 million above $4,000.

As the price pushed closer to the peak near $5,000, that pressure intensified further, reaching nearly -$568 million, which shows sellers actively met every breakout attempt.

This pattern explains the repeated failure to hold highs, as leveraged sellers absorbed demand faster than it could build.

However, the structure now begins to shift.

Since March, Net Taker Volume has flipped positive to about +$102 million, which suggests buyers are finally absorbing supply.

If this continues, price may stabilize and build higher, yet failure would return the market to reactive, leverage-driven swings.

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Final Summary

• Ethereum [$ETH] supply compression tightens liquidity, which increases upside sensitivity, yet thinner depth raises volatility risk during demand shocks or selling pressure.
• Ethereum shows early demand shift as buyers absorb selling, yet weak spot conviction keeps price reactive and dependent on sustained inflows.

Leading cryptocurrencies fell alongside stock futures Sunday evening as tensions between the U.S. and Iran increased dramatically over the weekend.

Crypto Market In Red

Bitcoin sharply retreated from $76,000 as trading volume spiked 20% over the last 24 hours. Ethereum dipped below $2,300, while XRP and Dogecoin also traded in the red.

Over $415 million was liquidated in the past 24 hours, with $335 million in long positions alone wiped out, according to Coinglass data.

Open interest in Bitcoin futures fell 3.76% over the last 24 hours. Meanwhile, sentiment among whale and retail traders on Binance flipped “neutral.”

“Fear” sentiment persisted in the market, according to the Crypto Fear & Greed Index.

Top Gainers (24 Hours)

The global cryptocurrency market capitalization stood at $2.51 trillion, following a decline of 1.62% increase in the last 24 hours.

Stock Futures Slide As Hostilities Resume

Stock futures sold off sharply on Sunday evening. The Dow Jones Industrial Average Futures fell 444 points, or 0.89%, as of 8:44 p.m. EDT. Futures tied to the S&P 500 slid 0.70%, while Nasdaq 100 Futures declined 0.66%.

Geopolitical tensions worsened over the weekend after President Donald Trump said that that was trying to get past a naval blockade in the Gulf of Oman.

Iran president Masoud Pezeshkian said U.S. actions are a “clear violation” of the ceasefire understanding and that Iranian forces are ready for a comprehensive defense, according to state-controlled media IRIB.

Oil prices lifted, with West Texas Intermediate crude futures surging 7.50% to $90.12 per barrel.

Bitcoin’s Struggles To Continue?

Widely followed cryptocurrency analyst and trader Killa noted BTC’s positive momentum “fading” after a prolonged green run.

“Green bars are gradually weakening, suggesting momentum is stalling,” the analyst said. “With the market still range bound, it’s plausible delta shifts red from here, leading to late longs being flushed out.”

Rekt Capital, another well-known cryptocurrency commentator on X, outlined a potential retest of Bitcoin’s support at $73,000, with a successful hold confirming the upside breakout pattern.

Photo: Memory Stockphoto / Shutterstock

The cloud development platform Vercel’s security incident has prompted alarm in the crypto industry, following the company’s disclosure that attackers compromised parts of its internal systems through a third-party AI tool.

Because many crypto projects rely on Vercel to host their user interfaces, the breach highlights just how dependent Web3 teams are on centralized cloud infrastructure. That reliance creates an often overlooked attack surface—one that can sidestep traditional defenses like DNS monitoring and directly compromise frontend integrity.

Vercel said Sunday that the intrusion originated from a third-party AI tool linked to a Google Workspace OAuth app. That tool had been breached in a larger incident affecting hundreds of users from multiple organizations, the company said. Vercel confirmed a limited subset of customers was affected, and its services stayed operational.

The company has engaged external incident responders and alerted the police while also investigating how the data may have been accessed.

Access keys, source code, database records, and deployment credentials (NPM and GitHub tokens) were listed for the account. But these are not independently established claims.

As proof, one of those sample items included about 580 employee records with names, corporate email addresses, account status, and activity timestamps, along with a screenshot of an internal dashboard.

Attribution remains unclear. Individuals connected to the core ShinyHunters group denied involvement, according to reports. The seller also said it contacted Vercel, demanding a ransom, though the company has not revealed whether negotiations were conducted.

Third-party AI compromise exposes hidden infrastructure risk

Rather than attacking Vercel directly, attackers have leveraged OAuth access linked to Google Workspace. A supply-chain weakness of this nature is trickier to identify, as it depends on trusted integrations rather than obvious vulnerabilities.

Theo Browne, a developer known in the software community, said those consulted indicated Vercel’s internal Linear and GitHub integrations bore the brunt of the problems.

He observed that environment variables marked as sensitive in Vercel are safeguarded; other variables that were not flagged must be rotated to avoid the same fate.

Vercel followed up on this directive, urging customers to review their environment variables and utilize the platform’s sensitive variable feature. That kind of compromise is particularly worrying because environment variables often contain secrets such as API keys, private RPC endpoints, and deployment credentials.

If these values were compromised, attackers might be able to alter builds, inject malicious code, or gain access to connected services for broader exploitation.

Unlike typical breaches that target DNS records or domain registrars, the compromise at the hosting layer occurs at the build pipeline level. That allows attackers to compromise the actual frontend delivered to users rather than merely redirecting visitors.

Certain projects store sensitive configuration data in environment variables, including wallet-related services, analytics providers, and infrastructure endpoints. If those values were accessed, teams may have to assume that they were compromised and rotate them.

Frontend attacks have already been a recurring challenge in the crypto space. Recent incidents of domain hijacking have led to users being redirected to malicious clones designed to drain wallets. But those attacks usually come at the DNS or registrar level. These changes can often be detected quickly with monitoring tools.

A compromise at the hosting layer differs. Rather than directing users to a phony site, attackers modify the actual frontend. Users may encounter a legitimate domain serving malicious code, but will have no idea what is happening.

Investigation continues as crypto projects review exposure

How far the breach penetrated, or whether any customer deployments were changed, is unclear. Vercel said its investigation is ongoing and it will update stakeholders as more information becomes available. It also said affected customers are being contacted directly.

No major crypto projects have publicly confirmed receiving notification from Vercel as of publication time. But the incident is expected to prompt teams to audit their infrastructure, rotate credentials, and examine how they manage secrets.

The bigger lesson is that security in crypto frontends doesn’t end at DNS protection or smart contract audits. Dependencies on cloud platforms, CI/CD pipelines, and AI integrations further increase risk.

When one of those trusted services is compromised, attackers could exploit a channel that bypasses traditional defenses and directly affects users.

The Vercel hack, tied to a compromised AI tool, illustrates how supply-chain vulnerabilities in modern development stacks can have cascading effects throughout the crypto ecosystem.