Signs of life in cryptocurrencies

Bitcoin holds $90,000 – more to come?

“Cryptocurrencies continue to stage a slow recovery, though their performance is distinctly muted compared to the soaring rallies in precious metals and stocks. Outflows from crypto funds point to ongoing caution among investors, with the rally lacking the fuel of new funds to really make up lost ground. Still, price action remains short-term positive, but bitcoin still needs to hold above $95,000 to prove that it has decisively broken to the upside.”

US Senate releases crypto bill

“The Senate Banking Committee has released a 278-page crypto bill that resolves the stablecoin yield impasse – providers can't pay interest simply for holding coins, but transaction-based rewards remain permitted. DeFi protections survived the negotiating process, though these are weaker than earlier drafts, while network tokens already trading in ETFs like XRP, Solana and Chainlink won't be classified as securities. Democrats have raised concerns about the 48-hour review window before Thursday's markup hearing, while the bill remains silent on ethics provisions addressing conflicts of interest for public officials with crypto business ties.

What we’re watching – US inflation and earnings drive the agenda

“Today’s US inflation and bank earnings mean that the focus shifts firmly towards the macro outlook, with the more crypto-focussed earnings coming later in the season. A stronger CPI reading may provide the dollar with a short-term boost. Stocks of all types are currently looking overextended, but this has yet to translate into meaningful flows out of equities and into crypto currencies.”