Bhutan has moved more than $72 million worth of bitcoin in just 24 hours, according to blockchain data. On Tuesday and Wednesday, the Royal Government of Bhutan transferred 973 BTC, worth around $72.3 million, to several unknown wallet addresses. The data comes from Arkham Intelligence. The transfers came from wallets linked to Druk Holding & Investments, Bhutan’s sovereign wealth fund. The fund manages the country’s bitcoin reserves. Arkham said $44.4 million of the total was sent in one batch to two unknown addresses. Around 20.5 BTC, worth about $1.5 million, went to crypto trading firm QCP Capital. When earlier transactions…
Author: Sazid Kabir
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The US Securities and Exchange Commission (SEC) has issued new guidance stating that most cryptocurrencies are not securities. The market barely moved on Wednesday. Bitcoin traded near $73,900, showing no net change for the day. Ethereum, Solana, and Dogecoin also remained flat. The total crypto market cap stayed at $2.61 trillion. The SEC released its updated framework on Tuesday night. It explains how the agency applies the Howey Test to decide if a token counts as a security. The document suggests many tokens fall outside securities law based on their structure and use. The agency named 16 digital commodities that…
U.S. spot Bitcoin exchange-traded funds (ETFs) have recorded their longest consecutive inflow streak since last October. The six-day streak coincided with Bitcoin climbing over 12% during the same period. Data from Farside Investors shows that ETFs added $199.4 million in net inflows on Monday alone. BlackRock’s iShares Bitcoin Trust led with $139.4 million, followed by Fidelity’s Wise Origin Bitcoin Fund at $64.5 million. Other funds, such as Bitwise and Franklin Bitcoin ETFs, posted smaller inflows, while VanEck and ARK 21Shares saw minor outflows. Overall, total net inflows have reached $962.8 million since March 9. This matches Bitcoin’s rise from $65,960…
A former Los Angeles County deputy, Michael Coberg, has been sentenced to 63 months in prison for aiding jailed crypto founder Adam Iza in extortion schemes. Coberg was also ordered to pay $127,000 in restitution. Prosecutors revealed Coberg received at least $20,000 a month from Iza, the founder of crypto platform Zort, nicknamed “The Godfather,” for his role in detaining victims, forcing crypto transfers, and assisting in criminal setups. One notable incident occurred in October 2021, when Coberg helped pick up a man referred to as “L.A.” during a financial dispute. The victim was taken to Iza’s house, where he…
Ethereum price jumped to a six-week high of $2,377 on Tuesday, fueled by heavy buying from institutional investors and consistent inflows into spot Ethereum ETFs. Tom Lee’s treasury firm, BitMine, bought nearly 61,000 ETH over the past week. This lifts its total holdings to about 4.6 million ETH, roughly 3.8% of the total supply. The rally also triggered a short squeeze. ETH broke past $2,300, forcing liquidations of bearish positions and adding momentum to the price climb. Spot Ethereum ETFs in the U.S. have seen back-to-back inflows, totaling $248 million over a five-day streak. Retail and institutional interest combined has…
Bitcoin briefly surged to a six-week high of $75,937 on Tuesday, as over $330 million in short positions were liquidated across the crypto derivatives market. The rebound came after Bitcoin broke past the key $75,000 resistance, triggering a wider rally across altcoins. Tokens like Zcash and MemeCore saw double-digit gains during the day. Data from CoinGlass shows nearly $498 million in crypto liquidations in the past 24 hours, with $118 million coming from Bitcoin short positions alone. Institutional demand also played a major role. Twelve U.S. spot Bitcoin ETFs drew in over $200 million in inflows in a single day,…
Argentina has ordered a nationwide ban on Polymarket, tightening its rules around online betting and crypto-based platforms. Authorities say the platform was operating outside the country’s legal gambling framework. A court in Buenos Aires approved the move after reviewing complaints from local gaming organisations. Officials raised concerns about consumer safety. They pointed to the use of crypto payments, credit card deposits, and weak identity checks, which could allow minors to access the platform. Regulators also said prediction markets like Polymarket blur the line between financial trading and gambling. They concluded the platform was functioning more like an online betting system…
Solana is moving closer to a major price milestone as strong investor demand pushes the cryptocurrency toward the $100 level. The token is currently trading around $93 after gaining about 7 percent since Sunday. The rally comes as investment products tied to Solana record strong inflows. Data shows that around $10.7 million flowed into Solana-related funds over the past week, suggesting growing interest from institutional investors. Market activity has also increased sharply in derivatives trading. According to data from CoinGlass, Solana’s futures open interest jumped 11 percent in the last 24 hours, reaching roughly $5.79 billion. This signals that traders…
A trader has reportedly made around $10 million in profit after betting that US interest rates would stay higher for longer. The trade was placed in January using options linked to SOFR, a key interest rate that closely tracks the Federal Reserve’s policy moves. At the time, many investors expected the Fed to start cutting rates soon. This trader believed the market was too optimistic. Over the past two weeks, oil prices have surged due to rising tensions in the Middle East. Higher oil prices often lead to higher inflation. That has forced markets to rethink how quickly the Fed…
Bitcoin has struggled to break higher in recent weeks, but new data suggests a big move could be coming. Analysts say the next major target could sit around $82,000. The world’s largest cryptocurrency recently faced strong resistance near $74,000. However, on-chain data now shows that level may not be as strong as it first appeared. Crypto analyst Ali Martinez shared fresh insights on X. He pointed to the UTXO Realized Price Distribution (URPD) metric, which tracks where investors last bought their Bitcoin. This data helps show where strong support and resistance levels sit. According to Martinez, Bitcoin has entered a…