Coindesk

The cryptocurrency market continues to navigate complex global economic conditions as BNB trades within a tight consolidation range between $636-$646, according to CoinDesk Research's technical analysis data model.The token's price action shows resilience amid international trade disputes, with higher lows forming since recent dips while resistance remains firm around the $643-$645 zone. Decreasing volume volatility suggests energy buildup for a potential breakout, though direction remains uncertain as traders closely monitor both technical patterns and macroeconomic developments affecting market sentiment.Technical Analysis HighlightsBNB traded within a narrow $9.67 range (1.52%) between $636.25 and $645.92 over 24 hours.Price formed a series of higher lows since the 13:00 dip, establishing support around $638-$640.Resistance emerged near $643-$645 with notable volume spikes during recovery rallies.Closing...

Billions of dollars have flowed into the U.S.-listed spot bitcoin BTC exchange-traded funds (ETFs) in recent weeks, as the cryptocurrency chalked out a sharp recovery rally from $75,000 to $100,000.Most of the investment is likely driven by bold, strategic bullish directional bets rather than market-neutral arbitrage plays, data analysis suggests.The 11 spot ETFs drew in $2.97 billion in investor money in April, with an additional $2.64 billion flowing in so far this month, according to data source SoSoValue. That has boosted the net inflow since inception in January 2024 to over $41 billion.Institutions have historically used these ETFs to set up non-directional arbitrage plays to profit from price discrepancies between futures and spot bitcoin markets. The so-called cash and carry...

A 26-year-old man from Alabama has been sentenced to more than a year in prison for his role in a social media hack that briefly sent the price of bitcoin BTC soaring.Eric Council Jr. of Huntsville pleaded guilty to charges tied to the January 2024 hack of the U.S. Securities and Exchange Commission’s X account, according to a U.S. Department of Justice press release.Posing as a telecom customer using a fraudulent ID, Council used a SIM-swap technique to hijack a phone number tied to the SEC’s account. His co-conspirators then used it to falsely post that the agency had approved spot bitcoin exchange-traded funds (ETFs), a long-awaited regulatory milestone.Within minutes, the price of bitcoin surged by more than $1,000. It...

Two of the year’s most chaotic token blowups — Movement Labs’ MOVE scandal and the collapse of Mantra’s OM — are sending shockwaves through crypto’s market-making businesses.In both cases, rapid price crashes revealed hidden actors, questionable token unlocks, and alleged side agreements that blinded market participants, with OM falling more than 90% within hours late April on no apparent catalyst.Unlike traditional finance, where market makers provide orderly bid-ask spreads on regulated venues, crypto market makers often operate more like high-stakes trading desks. They're not just quoting prices; they’re negotiating pre-launch token allocations, accepting lockups, structuring liquidity for centralized exchanges, and sometimes taking equity or advisory stakes. The result is a murky space where liquidity provision is entangled with private deals,...

Major tokens slumped Saturday as investors digested the implications of Moody’s Ratings downgrading the U.S. credit score, with ether (ETH), XRP, and dogecoin (DOGE) dropping roughly 3%. The broader crypto market held at $3.3 trillion, paring earlier gains after briefly touching the week’s high.The move came after rating giant Moody’s cut the U.S. sovereign credit rating to Aa1 from Aaa, citing the country’s swelling deficits, rising interest expenses, and a lack of political will to rein in spending. The firm now joins Fitch and S&P in assigning a rating below the once-unblemished triple-A status long held by the world’s largest economy.As such, the White House was quick to respond, with spokespersons for President Donald Trump criticizing the decision as politically...