Coindesk

By James Van Straten (All times ET unless indicated otherwise)Bitcoin (BTC) continues to defy global economic uncertainty, inching closer to reclaiming $86,000. It is now less than 3% away from its "Liberation Day" high. To put the move into perspective, bitcoin dominance — which measures BTC’s share of the total cryptocurrency market cap — is approaching 64%, a level not seen since January 2021.In contrast, the Nasdaq 100 is still 5% away from its own Liberation Day high, underscoring bitcoin's relative strength versus U.S. equities. According to X account Cheddar Flow, the S&P 500 has just formed a "death cross" — a traditionally bearish signal that occurs when the 50-day moving average falls below the 200-day moving average. The last...

'Sell bonds, buy bitcoin,' proclaimed a popular social media account last week, echoing the sentiments of many crypto advocates who believe that tariff-induced volatility in the U.S. Treasury market – a cornerstone of global finance – has revealed the fragility of the dollar-denominated monetary system. However, institutions are not buying into this narrative.As of Monday, the 11 U.S.-listed spot Bitcoin ETFs, considered a proxy for institutional activity, were on track to register the second-highest cumulative monthly outflow of over $800 million, according to data source SoSoValue. The funds bled a record $3.56 billion in February and $767 million in March.Meanwhile, the three-month Treasury bills auctioned Monday drew strong demand from institutions. According to data source CME, the U.S. Treasury sold...

Crypto exchanges Binance and KuCoin temporarily suspended withdrawals amid reported issues with their data center provider Amazon Web Services (AWS)."We are aware of an issue impacting some services on the #Binance platform due to a temporary network interruption in the AWS data center," Binance said in an X post."Some orders are still successful, but some are failing. If users failed, they may keep retrying."Binance opened withdrawals just over five minutes after the issue was first reported. Users are still reportedly facing issues placing trades on both Binance and KuCoin, X posts show.Crypto wallet Rabby and on-chain analytics tool DeBank reported issues in separate X posts as well, with all services unavailable.AWS is a cloud computing platform providing services like storage,...

KiloEx, a decentralized exchange (DEX) for trading perpetual futures, was hit by a sophisticated attack earlier Tuesday that left users reeling with losses of around $7 million.The exploit unfolded across multiple blockchain networks and appeared to stem from a vulnerability in the platform’s price oracle system, per blockchain analysis firm Cyvers.An attacker, using a wallet funded through Tornado Cash — a tool that obscures transaction trails — executed a series of transactions on the Base, BNB Chain, and Taiko networks to take advantage of a flaw in the platform’s price oracle system, which allowed the attacker to manipulate asset prices.KiloEx has since confirmed the breach, suspended platform operations, and is now working with partners to trace the stolen funds and...

Story Protocol’s IP tokens slumped 20% and retraced the entire move within hours late Monday in an unusual trading session.IP fell from nearly $4 to $3.27 in a four-hour period, jumping back to over $4 in a couple of hours after hitting the daily low. The majority of the trading volume during this event was concentrated on major exchanges Binance and OKX Spot, with over $40 million in trading volumes before the plunge and $138 million after recovery.The broader crypto market was relatively stable at the time, with bitcoin trading around $84,000 and no clear overarching trend impacting altcoins. This made the IP token’s sudden slump and recovery stand out as an isolated event.Rumors circulated that large volumes of IP...