Bitcoin is currently trading around $106K, demonstrating stability as long-term holders maintain their positions, with 14.7 million BTC remaining unmoved. This restraint contrasts with the euphoric profit-taking seen during previous market surges. Institutional demand is evident, with significant inflows into Bitcoin ETFs, reshaping market dynamics. Meanwhile, the FATF has raised concerns over rising stablecoin-related crimes, prompting calls for enhanced regulation rather than a ban on stablecoins. Executives from blockchain firms argue that transparency in stablecoins can deter criminal activity. In Malaysia, the Securities Commission is proposing new rules to streamline the listing process for cryptocurrency exchanges, potentially allowing them to list assets without prior approval. Additionally, the Australian Monochrome Bitcoin ETF has increased its holdings to 931 BTC, reflecting growing institutional interest. Lastly, Bitcoin miner IREN Limited has achieved its mid-year hashrate target of 50 EH/s, signaling robust growth in mining capacity and a focus on AI infrastructure expansion. These developments highlight the evolving landscape of cryptocurrency amid regulatory scrutiny and market dynamics.
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