Tag: CRYPTOS FoxBusiness.

Bitcoin ($BTC) experienced a sharp rise yesterday and retested the $76,000 level. However, this attempt failed again, and the $BTC price retreated to the $73,000 level.

One analyst noted that a key data point in the markets indicated a possible bottom formation.

$BTC investors are in a bearish trend, which creates the potential for a squeeze on short positions.

Vetle Lunde, Head of Research at K33 Research, analyzed funding rates in Bitcoin futures on Binance and stated that they remain negative despite recent gains. This increases the potential for short positions to become consolidated and for a price increase to occur.

According to CoinDesk, Vetle Lunde stated that Binance’s $BTC perpetual futures funding rate has been negative for 11 days.

According to Lunde, the fact that funding rates remain negative indicates that, despite the price increase, investors are predominantly continuing to take short positions.

Lunde also emphasized that the increase in open positions (OI) was related to the entry of new short positions.

The 30-day average funding rate has been negative for 46 days. Lunde said this is similar to the trend seen after the FTX crash in 2022 and China’s cryptocurrency mining ban in 2021.

However, Lunde argued that historically, such periods of strong risk aversion can present attractive buying opportunities, as excessive short positions can be forcibly liquidated, potentially triggering an uptrend.

*This is not investment advice.

Wall Street broker Bernstein expects prediction market volumes to reach roughly $1 trillion by 2030, as the sector evolves from niche wagering into broad-based “information markets” spanning sports, crypto, politics and the economy.

Volumes hit $51 billion last year and are on pace to reach about $240 billion in 2026, implying roughly 80% compound annual growth through the end of the decade, the report said. Activity has already accelerated in 2026, with Polymarket and Kalshi recording combined year-to-date volumes of $60 billion.

“Increasing regulatory clarity at the federal level is expanding the addressable market, while blockchain-based tokenization and integration with crypto markets is enabling global liquidity, long-tail event creation and participation from institutions,” wrote analysts led by Gautam Chhugani.

Prediction markets have surged from a niche corner of crypto and academic experimentation into a fast-growing segment of global trading activity in just a few years.

Volumes have spiked alongside major news cycles, most notably the 2024 U.S. election, while platforms like Polymarket and Kalshi have expanded access beyond politics into sports, crypto and macroeconomic events.

The combination of clearer U.S. regulatory footing, improved user experience and the integration of blockchain-based liquidity has accelerated adoption, pushing the sector toward mainstream relevance

The report attributed the growth to improving federal regulatory clarity, which expands access beyond fragmented state-level gaming rules, alongside blockchain-based infrastructure that enables global liquidity and rapid creation of new event contracts.

Sports currently accounts for about 62% of volumes, benefiting from lower effective take rates versus traditional online sportsbooks. But the analysts expect that share to fall to roughly 31% by 2030, as crypto-linked contracts and macro, political and economic events gain traction. Institutional participation is also expected to grow, particularly for hedging event-driven risks.

$10.8 billion in revenue

Bernstein analysts estimate industry revenues could expand from roughly $400 million in 2025 to $2.5 billion in 2026, reaching about $10.8 billion by 2030 at current take rates. Even with significant fee compression, they see potential for a multi-billion-dollar revenue pool.

Distribution is emerging as a key competitive moat. The report pointed to Robinhood (HOOD) and Coinbase (COIN) as early leaders, leveraging their combined tens of millions of users.

Robinhood has already built a $350 million annualized revenue run rate from prediction markets and is moving toward owning exchange infrastructure, while Coinbase entered via Kalshi with nationwide access to more than 1,000 contracts, the report added.

The broker has an outperform rating on both Coinbase and Robinhood.

Read more: Why Cantor Fitzgerald thinks Robinhood and Coinbase are the best ways to play the prediction market boom

Bitmine Immersion Technologies has turned itself into the Ethereum version of Strategy, doubling its outstanding shares in six months and raising over $10 billion in equity to amass nearly 5% of all ether in existence.

it reported a $3.8 billion quarterly net loss in Tuesday’s 10-Q filing, with share count going from 232 million to 494 million between August 31 and February 28.

Additional paid-in capital jumped from $8.36 billion to $18.55 billion over the same period, and those funds went straight into $ETH.

As of April 12, Bitmine held 4.87 million ether at an average cost of $2,206 per token, making it the largest corporate Ethereum treasury globally and the second-largest corporate crypto treasury behind Strategy.

The bet is underwater but not by much. Ether traded near $2,325 on Wednesday, roughly 5% above Bitmine’s average entry. The $3.78 billion in unrealized losses on the quarter’s income statement reflects the drawdown from the token’s August 2025 highs near $4,900, not a loss from its cost basis.

Under fair-value accounting rules adopted in 2024, those mark-to-market swings flow through the P&L regardless of whether the company has sold anything.

But the transformation from mining company to leveraged $ETH treasury play is creating its own set of pressures.

Self-mining revenue collapsed 86% year-over-year to $219,000 for the quarter. Staking has replaced it entirely, generating $10.2 million of the company’s $11 million in total quarterly revenue.

General and administrative expenses hit $75 million for the quarter, up from $964,000 a year earlier. For the full six-month period, G&A reached $298.6 million against just $13.3 million in revenue. Some of that likely reflects stock-based compensation tied to the equity raises, but the gap between operating costs and operating revenue is stark for a company whose core product is now holding and staking a single token.

The filing also reveals derivatives exposure that wasn’t previously detailed.

Bitmine booked $65.3 million in unrealized losses on derivatives and $24.1 million in option premium income during the quarter, suggesting the company is running options strategies on its $ETH holdings, possibly covered calls to generate additional yield.

Chairman Tom Lee said in March that the company views the ether pullback as “attractive, given the strengthening fundamentals,” and noted Monday that Bitmine has accelerated its buying pace over the past four weeks.

Bitmine held $879.6 million in cash as of February 28, along with 198 bitcoin, a $200 million stake in Beast Industries, and an $85 million position in Eightco Holdings.

Rakuten, the Japanese e-commerce giant, has taken a significant step to accelerate cryptocurrency adoption. By integrating $XRP as a payment method into its platform, the company provides direct access to 44 million users.

According to the announcement, users can now make payments with $XRP through the Rakuten Pay app. This integration will enable $XRP use at over 5 million merchant locations across Japan. Users can also buy and sell this digital asset developed by Ripple through the app, purchase $XRP with Rakuten points, and store their assets in the Rakuten Wallet.

Ripple ecosystem manager Tatsuya Kohrogi stated that this development is a significant milestone for the crypto sector. According to Kohrogi, this integration will introduce digital assets not only to crypto-focused users but also to millions of everyday shoppers.

According to the company, the scale of the integration is remarkable. Rakuten has over 100 million members and an annual e-commerce volume of 5.6 trillion yen. Furthermore, over 3 trillion loyalty points in circulation (worth approximately 23 billion dollars) can now be converted to $XRP.

*This is not investment advice.

On Tuesday, the Canton (CC) price fell by around 4% over the last 24 hours despite its listing on one of South Korea’s major cryptocurrency exchanges, Upbit.

Despite the drop in the price, the daily trading volume of Canton has witnessed a spike of around 345% on a daily chart, which shows growing trading activity on the network. At the time of writing, the cryptocurrency is trading at around $0.1463, down 3.9% on the daily chart, according to CoinMarketCap.

South Korea’s Biggest Exchange Prepares to List Canton

On April 14, South Korea’s biggest cryptocurrency exchange, Upbit, officially announced the listing of Canton (CC) on its KRW, $BTC, and USDT trading pairs. While the deposits and withdrawals were planned on April 14, Upbit has declared that it has postponed the launch, saying that extra checks were needed during testing.

After this development, the CC price has witnessed some small movements. The listing on Upbit will help it to bring more Korean buyers and gain higher liquidity once trading starts. This listing announcement has soared the token’s price above $0.1601.

The drop in the Canton price is coming amid the bullish momentum in the crypto market, in which the Bitcoin ($BTC) price soared above $75,000 after seeing major liquidation in the short positions. Institutional investors have started injecting money via major exchanges again after witnessing a rally in the last few days.

While there is still a tense situation in the Middle East, in the last few days, there have been some developments, which investors are seeing as a sign of de-escalation in the war between the U.S. and Iran.

However, Canton is facing its own selling pressure as some investors have started booking profits after recent major developments, such as listings.

At present, the price chart of Canton is developing a descending channel pattern in the last few days. In this pattern, both the top line and the bottom line are moving in a downward direction. The price is currently stuck between them until it finally breaks out in one direction.

In the last few days, the cryptocurrency has retested various lower highs, which means that every time the price tries to go up, it fails to reach the previous high levels.

Technical indicators are suggesting that the cryptocurrency is currently in the balance zone. The 14-day Relative Strength Index is revolving around 47, which tells that the cryptocurrency is currently in the neutral zone without any sign of being in the overbought and oversold zone.

The 50-day moving average is very close to the current price level. Because of this, it is difficult to trace its direction at the moment. However, the positive momentum in the overall crypto market is suggesting that if buyers start to accumulate CC tokens, then it might see some recovery. As of now, traders are seeing the $0.14 as the major support level.

Canton (CC) Gets Recognition as Grayscale Adds It to the List of Consideration

Recently, Grayscale has revealed the addition of Canton to its official list of assets under consideration for the second quarter of 2026. This recognition from the world’s biggest has sparked euphoria in its community. It has now been added to the smart contracts platform category alongside other tokens such as Celo and Toncoin.

“Assets Currently in the Grayscale Product Suite lists digital assets held by a Grayscale product as of April 10, 2026, either as part of a single-asset product or a multi-asset product,” stated in the official announcement.

The addition of the CC in this list clearly says that Grayscale’s research team is actively assessing CC as a future investment product, such as a trust and exchange-traded funds (ETFs). This comes after Grayscale announced the launch of a new exchange-traded fund (ETF) that is focused on Avalanche (AVAX) in March.

Morgan Stanley’s freshly launched Bitcoin exchange-traded fund pulled in nearly $62 million within its first week of trading — a debut that landed in the middle of the strongest week for crypto investment products in three months.

Macro Shifts Fuel The Comeback

That broader rebound was driven by more than one firm’s market entry. Crypto funds globally attracted $1.1 billion in net inflows for the week ending April 11, according to asset manager CoinShares.

The turnaround came after five straight weeks of outflows that drained roughly $4 billion from the market and left investor sentiment battered heading into April.

CoinShares head of research James Butterfill pointed to two specific triggers: early ceasefire signals out of Iran and a softer-than-expected US inflation reading. Both helped ease nerves that had kept institutional money on the sidelines.

US investors led the charge. Based on CoinShares data, American buyers accounted for $1.06 billion — about 95% of total global flows for the week. US spot Bitcoin ETFs absorbed the largest share, pulling in $833 million, per data from Farside Investors.

Bitcoin And Ethereum Both Draw Fresh Money

Bitcoin funds worldwide attracted $871 million. Ethereum, which had recorded outflows for three consecutive weeks before this, saw $196.5 million flow back in. Weekly trading volumes climbed 13% to $21 billion, though that number still sits well below the year-to-date average of $31 billion, reports indicate.

The positioning among big investors told an interesting story. At the same time institutions were buying into Bitcoin and Ethereum, short-Bitcoin products — funds that profit when Bitcoin’s price falls — recorded $20 million in inflows.

That was the highest single-week total for those products since November 2024. Money was moving in, but some of it was being used as a safety net.

$XRP funds, which had briefly outpaced Bitcoin the previous week with nearly $120 million in inflows, cooled significantly. Reports show $XRP investment products brought in a little over $19 million during the same period.

Morgan Stanley Moves Deeper Into Crypto

Beyond the weekly numbers, Morgan Stanley’s expanding footprint in the space drew attention. The bank has already filed for Ethereum and Solana ETFs following its Bitcoin fund launch.

According to reports, Morgan Stanley executive Amy Oldenburg said the firm also plans to roll out crypto services including a tokenized money market fund and tax-harvesting options for clients.

Year-to-date, Bitcoin ETF inflows have reached just under $2 billion — about 82% of all crypto ETP inflows recorded in 2026. Ethereum remains in the red for the year, sitting at $130 million in cumulative outflows despite last week’s recovery.

Total assets under management across crypto investment products climbed back to levels not seen since early February.

Featured image from Pexels, chart from TradingView

As tensions between the US and Iran in the Middle East continue unabated, Bitcoin ($BTC) remains strong.

Bitcoin, although it fell to the $70,000 level after the first talks between the US and Iran over the weekend ended without a result, has risen again to the $74,000 level.

This rise was influenced by news that a second round of talks between the two countries would begin and by growing expectations that the Bank of Japan would not raise interest rates this month.

While Bitcoin is trying to remain strong amidst recent developments, some analysts predict that $BTC could fall to $50,000 before experiencing a sustainable recovery.

At this point, LVRG Research Director Nick Ruck predicts that the $50,000 level could be the last major buying opportunity before a real recovery begins.

Ruck stated that Bitcoin’s price falling to these levels would represent a healthy cycle reset, given the broader economic pressures and weak capital flows into cryptocurrencies.

Ruck also stated that Bitcoin has fallen by approximately 40% from its recent all-time high, with significant participation from institutional investors, a smaller drop than in previous bear markets. In this context, Ruck noted that the current bear market has its own unique macro-structural characteristics, arguing that for these reasons, a drop of more than 60% might not occur in this cycle.

Aside from Nick Ruck, Bitcoin investor and analyst Ivan Liljeqvist also stated that Bitcoin has not yet reached its bottom.

“I don’t think we’ve hit the bottom yet, and I don’t think $60,000 is the bottom. The trend is still downward. There’s no bullish momentum right now.”

*This is not investment advice.

Visa (V) has made its first foray into running blockchain infrastructure, the company said on Tuesday, operating as an “anchor validator” node on the Stripe-backed Tempo blockchain.

Visa, a long-time collaborator of the payments services provider, configured and managed the validator node entirely in-house, following six months of joint work with Tempo’s engineering team to integrate the card giant’s infrastructure directly into the blockchain, according to a press release.

Visa plans to run nodes on some other blockchains following the Tempo integration. The card network had previously said it will join the Canton Network, where there are plans to serve as a “Super Validator.”

For the past seven years or so, Visa’s blockchain engineers have been “living and breathing stablecoins,” said the head of Visa’s crypto team, Cuy Sheffield. Now the focus is on supporting the evolution of new payment flows such as machine-to-machine commerce using AI agents, he added.

“We’ve been an early design partner, working very closely with the Tempo team, looking at designing infrastructure that can support many types of new payment flows, and particularly agentic payment flows,” Sheffield said in an interview with CoinDesk.

Tempo, which is also backed by crypto investment firm Paradigm, went live last month with Machine Payments Protocol (MPP), a protocol that lets software and AI agents pay for services autonomously.

“Visa is a big part of MPP,” Sheffield said. “We added the MPP card spec. We announced Visa CLI, which is a wallet that is built on top of MPP where agents can use a Visa card to be able to spend. So we’ve been deeply involved in the Tempo and the MPP ecosystem, and now we’re running the underlying infrastructure on Tempo.”

There’s no doubting Stripe’s conviction when it comes to assembling an end-to-end blockchain-based system for stablecoin payments. But, taking a step back, some people might question how open and decentralized such a system is.

Sheffield, in response, said Visa is simply being pragmatic, looking for products that can drive payment volume.

“Our view has always been that decentralization is a spectrum,” Sheffield said. “There are many use cases where decentralization for the sake of decentralization doesn’t solve a problem. I think we’re now entering a phase in the crypto industry where decentralization is not the primary value prop. It’s whether a new payment infrastructure is fast, efficient, programmable and can outperform some existing payment infrastructure for certain use cases.”

Stripe moved into the stablecoin industry when it acquired stablecoin specialist Bridge for $1.1 billion in 2024. Earlier this year, Mastercard made a similar move, buying stablecoin firm BVNK for $1.8 billion.

Asked if Visa had any plans to offer its own stablecoin, Sheffield said:

“It’s so early and the rules haven’t even been fully written yet. We spent a bunch of time with the OCC (Office of the Comptroller of the Currency) and others,” he said. “I think there are many different roles that Visa can play, but everything we do, we want to make sure that we’re doing it in partnership with our clients and our network.”