Kategorie: Crypto Markets

Daily headlines and news about crypto markets.

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Why Bernstein sees Bitcoin hitting new highs in 2025

  • Analysts, led by Gautam Chhugani, argued that short-term correlations between Bitcoin and assets like gold or the Nasdaq are misleading.
  • Bernstein pointed out that between ETF holdings and corporate treasuries, nearly 9% of Bitcoin’s total supply is now locked up.
  • Chhugani noted that current momentum from corporations and institutions alone could push Bitcoin to new highs in 2025.

Bitcoin could soon break new highs as corporate accumulation and renewed exchange-traded fund (ETF) inflows drive a “supply squeeze,” analysts at research and brokerage firm Bernstein said in a note to clients on Monday.

Analysts, led by Gautam Chhugani, argued that short-term correlations between Bitcoin and assets like gold or the Nasdaq are misleading, and that factors such as retail selling exhaustion, corporate treasury accumulation, and strong ETF inflows offer a clearer signal for Bitcoin’s trajectory.

Last week, SoftBank, Tether, Bitfinex, and Cantor Fitzgerald announced the launch of Twenty One Capital, a Bitcoin corporate treasury venture starting with 42,000 BTC.

The venture will be backed by $900 million from SoftBank, $1.5 billion from Tether, and $600 million from Bitfinex, with plans to merge with Cantor Equity Partners through a SPAC and raise an additional $585 million at closing.

Bernstein compared Twenty One Capital’s strategy to that of Strategy, which raised $22 billion in 2024 and $8.6 billion so far in 2025 to aggressively build its Bitcoin holdings.

However, Twenty One’s key advantage is its backing, particularly Tether, which earned $13 billion in 2024 from its $148 billion USDT supply.

Corporate accumulation is becoming increasingly competitive, the analysts noted, with around 80 companies now holding approximately 700,000 BTC, representing 3.4% of Bitcoin’s total supply.

ETF inflows return

Meanwhile, after a two-month lull following Bitcoin’s 31% drop from its all-time high above $109,000 on Inauguration Day to a low near $75,000, US spot Bitcoin ETF inflows turned positive again.

Over $3 billion was added last week—the highest in five months and the second-largest inflow on record. Bitcoin was recently trading at around $95,295.

ETFs now hold over 5.5% of the total Bitcoin supply, equivalent to around $110 billion in assets under management.

Of that, nearly 33% is held by institutional investors—up from about 20% in September—with 48% of the institutional AUM held by investment advisors and 31% by hedge funds.

Bernstein pointed out that between ETF holdings and corporate treasuries, nearly 9% of Bitcoin’s total supply is now locked up—a sevenfold increase since January 2024.

Separately, President Trump’s recent executive order establishing a US Strategic Bitcoin Reserve could further accelerate sovereign adoption of Bitcoin.

Chhugani noted that while current momentum from corporations and institutions alone could push Bitcoin to new highs in 2025, any significant Bitcoin purchases by the US government are not priced in and could trigger a global shift in sovereign accumulation strategies.

The post Why Bernstein sees Bitcoin hitting new highs in 2025 appeared first on CoinJournal.

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Nike sued for $5 million over RTFKT NFTs: check key details

  • Plaintiffs accuse Nike of promoting unregistered securities.
  • NFTs linked to RTFKT fell from $8,000 to $16 after closure.
  • Lawsuit highlights legal uncertainty around NFTs as securities.

Nike is facing a $5 million class-action lawsuit that claims the company misled investors by promoting non-fungible tokens (NFTs) tied to its RTFKT platform before abruptly shutting it down.

Filed in Brooklyn federal court on 25 April, the lawsuit accuses Nike of orchestrating a “rug pull” by heavily marketing its sneaker-themed NFTs, encouraging investment, and then closing the platform in January 2025.

The case highlights growing tensions over the classification of NFTs as securities and comes amid a sharp downturn in NFT market value, with total sales plunging 63% year-on-year in the first quarter.

Nike accused of selling unregistered NFTs

The class-action group, led by Jagdeep Cheema, alleges that Nike used its brand recognition and marketing strength to promote NFTs that functioned as unregistered securities.

According to the lawsuit, Nike encouraged purchases by linking the value of the NFTs to the company’s ongoing promotional efforts, leading investors to expect rising asset values tied directly to the brand’s success.

The complaint argues that investors suffered “significant damages” after Nike shuttered RTFKT, destroying the tokens’ value. The suit also claims that Nike violated consumer protection and state competition laws.

It seeks $5 million in damages, citing breaches related to marketing unregistered securities and failing to safeguard investors’ interests after shutting down RTFKT.

Notably, the case highlights the legal uncertainty surrounding NFTs.

Although a United States court has yet to definitively rule on whether NFTs are securities, OpenSea, a major NFT marketplace, argued in an April 9 letter to the Securities and Exchange Commission that NFTs should not fall under securities regulation.

Despite this broader debate, the plaintiffs contend that the court does not need to settle the securities status of NFTs to rule on Nike’s alleged wrongdoing.

Nike NFT values crash after RTFKT shutdown

Nike acquired RTFKT Studios, a virtual sneaker and collectibles firm, in 2021.

Following the acquisition, Nike released the “CryptoKick” NFT collection, which initially traded at an average price of 3.5 Ether (around $8,000) when listed on OpenSea on 18 April 2022.

However, after Nike shuttered RTFKT in January 2025, the average price of these NFTs dropped dramatically.

By 21 April, Nike’s CryptoKick tokens were trading for around 0.009 Ether, or roughly $16.

The lawsuit argues that this collapse in value directly harmed investors who bought NFTs expecting future participation in RTFKT’s challenges and quests, a key component marketed as a reason to invest in the tokens.

The plaintiffs claim that the closure removed promised utility features that underpinned the NFTs’ value proposition, leaving investors without access to previously promoted opportunities for rewards and engagement.

NFT market sales fall 63% in early 2025

The downturn in Nike’s NFT values occurred alongside a broader slump in the NFT market.

Data shows that global NFT sales dropped to $1.5 billion from January to March 2025, marking a 63% fall compared to $4.1 billion in the same quarter of 2024.

This contraction reflects a growing scepticism among investors about the long-term value of NFTs, particularly projects closely tied to brand-driven hype.

Nike’s situation adds to a series of controversies that are challenging assumptions about the sustainability of digital asset markets.

While debates around the regulatory classification of NFTs continue, cases like the Nike lawsuit may test new legal arguments without waiting for formal rulings on securities law status.

The post Nike sued for $5 million over RTFKT NFTs: check key details appeared first on CoinJournal.

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CSPR price jumps more than 130% ahead of Casper 2.0 upgrade

  • Casper Network (CSPR) price is soaring ahead of the highly anticipated Casper 2.0 upgrade.
  • CSPR’s trading volume has spiked 2,500%, with strong futures interest.
  • Casper Network price recently broke out from a falling wedge, but RSI hints at a pullback.

CSPR price has soared 130% early Monday, hitting an intraday high of $0.027 on Crypto.com.

This remarkable rally has propelled the token to its highest level since December 9, 2024, marking a significant turnaround from its lowest point this year.

From its 2025 low, CSPR has now surged more than 180%, capturing the attention of investors and traders alike.

The token’s market capitalisation has climbed to approximately $215 million, while its 24-hour trading volume has exploded by nearly 2,500% from the previous day, reaching around $115 million.

Notably, this surge in trading activity underscores the growing interest in CSPR as it approaches a pivotal moment in its development.

Why is the Casper Network price rising?

The primary driver behind CSPR’s meteoric rise is the anticipation surrounding the upcoming Casper 2.0 upgrade, scheduled for May 6, 2025.

This upgrade promises to enhance the network’s speed, security, and overall developer experience, positioning it as a more attractive platform for enterprise and developer adoption.

In an April 22, 2025, post on X, the Casper team described the upgrade as “a leap forward for the Casper Network and a defining step toward bridging the real-world economy with Web3.”

Such bold statements have undoubtedly fueled investor enthusiasm, as they suggest a significant improvement in the network’s capabilities and potential for real-world applications.

Adding to the positive sentiment is the recent change in the project’s leadership.

According to community member Nick, the team associated with past delays and unmet promises has been replaced, ushering in a new era of stronger management and renewed focus on execution.

This shift has instilled confidence among investors, who now believe that the network is better positioned to deliver on its promises and achieve its long-term vision.

The combination of a major technological upgrade and improved leadership has created a perfect storm of bullish sentiment, propelling CSPR to new heights.

The crypto community’s reaction to these developments has been overwhelmingly positive.

CoinMarketCap’s social sentiment metric reveals that 92% of traders expect short-term gains, while the token’s social sentiment has flipped to a positive stance.

Casper Network community sentiment

Moreover, CSPR has begun trending on Google, indicating a surge in public interest and awareness.

This growing traction among investors and the broader public has further amplified the token’s upward momentum, as more people seek to capitalise on its potential.

On-chain data also supports the bullish narrative. In the past two days alone, over $1.7 million worth of CSPR has been moved off exchanges, suggesting that investors are transferring their tokens to self-custody wallets.

This trend typically indicates a reduction in immediate sell pressure, as holders are less likely to liquidate their positions quickly.

Additionally, futures open interest has hit a five-month high of $6.64 million, up from just $836,000 a month ago, according to CoinGlass.

CSPR open interest

The simultaneous rise in price and open interest is a classic signal of strengthening bullish sentiment, as more traders position themselves for further gains.

Funding rates have also remained positive for the last six days, meaning that traders going long are paying less than those betting against the token.

This is another clear indicator of bullish market sentiment, as it shows that the majority of traders are confident in CSPR’s upward trajectory.

The convergence of these on-chain and market metrics paints a compelling picture of a token poised for continued growth.

CSPR price analysis

From a technical perspective, CSPR’s price action has been equally impressive.

The token recently broke out of a falling wedge that had confined its price for the past five months.

Casper Network price chart

This breakout is a significant development, as it signals a potential reversal of the previous downtrend and the beginning of a new bullish phase.

The breakout was accompanied by a surge in trading volume, further validating the strength of the move.

The Moving Average Convergence Divergence (MACD) indicator has also turned upward, indicating growing bullish momentum.

The MACD lines are now trending higher, suggesting that buyers are firmly in control.

Additionally, the Aroon Up indicator is at 100%, while the Aroon Down sits at 0%, highlighting the dominance of buyers in the market.

These technical indicators collectively reinforce the bullish outlook for CSPR.

However, it’s important to note that the Relative Strength Index (RSI) has been in overbought territory for the past two days, suggesting that the token may be due for a short-term cooling period before resuming its upward trajectory.

A brief pullback could provide a healthy correction, allowing the market to reset and potentially setting the stage for a more sustainable rally.

Looking ahead, the immediate target is $0.024, which represents the December 2024 high and a critical resistance level that CSPR failed to break twice in the second half of 2024.

If the token can surpass this level, it could pave the way for a larger impulse toward $0.10 or higher.

On the downside, the local support level is at $0.0097, which could come into play if a pullback occurs.

As the May 6 upgrade approaches, all eyes will be on CSPR to see if it can sustain its momentum and achieve new milestones.

The post CSPR price jumps more than 130% ahead of Casper 2.0 upgrade appeared first on CoinJournal.

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‘Floor is lava’: SEC’s Peirce slams murky US crypto rules, calls for clarity

  • SEC’s Peirce likens navigating unclear US crypto rules to “floor is lava.”
  • Peirce flags uncertainty over asset classification and staking compliance.
  • Commissioner Uyeda calls for broader crypto custody options (e.g., state trusts).

Navigating the regulatory landscape for cryptocurrency in the United States feels akin to playing a high-stakes game of “the floor is lava,” according to Securities and Exchange Commission (SEC) Commissioner Hester Peirce.

Speaking forcefully at an SEC roundtable discussion on custody rules, Peirce painted a picture of firms leaping precariously between ill-defined regulatory zones, uncertain of the ground beneath them.

Using the vivid children’s game analogy during the “Know Your Custodian” roundtable on April 25, Peirce described how companies involved with digital assets are forced to operate.

They must constantly maneuver to avoid direct contact with crypto assets deemed potentially problematic, all while lacking clear guidance on what constitutes safe territory.

“Firms engaging in crypto must jump from one poorly defined regulatory space to another,” she stated, highlighting the pervasive uncertainty.

Key questions linger: Which specific crypto assets are considered securities? Could activities like staking or exercising voting rights inadvertently trigger regulatory violations?

This lack of clarity, Peirce argued, leaves firms operating in the dark and significantly hampers the market’s ability to develop responsibly under the existing framework.

Custody conundrum: echoes of uncertainty

Peirce’s critique focused particularly on the confusion investment advisers face regarding asset classification and identifying who qualifies as a custodian for digital assets under SEC rules.

Fellow SEC Commissioner Mark Uyeda shared these concerns, explicitly suggesting the SEC should broaden the scope of permissible custodians.

He advocated for including state-chartered, limited-purpose trust companies as qualified custodians for crypto assets, arguing that the current narrow options restrict market growth.

Without adequate and clear custodial solutions, Uyeda noted, brokers and alternative trading systems (ATS) face significant hurdles in facilitating crypto trading effectively.

Tailored rules for diverse assets

Beyond custody, Peirce emphasized the need for regulations that acknowledge the inherent diversity within the digital asset ecosystem.

She argued against a one-size-fits-all approach, suggesting that while some crypto assets clearly necessitate qualified custodians for investor protection, others might be better suited for self-custody arrangements.

Overly rigid regulations, she warned, risk stifling the innovation inherent in decentralized transactions.

Peirce urged the SEC to develop a framework that recognizes and accommodates the unique characteristics of different types of crypto assets.

Calls for Clarity and Collaboration

The calls for clearer rules resonated with former SEC Chairman Paul Atkins, also present at the discussion.

Atkins voiced support for establishing a more defined regulatory environment to enable the crypto market’s potential.

He highlighted blockchain technology’s inherent benefits, such as enhanced efficiency, reduced counterparty risk, and increased transparency.

Critically, Atkins stressed the importance of the SEC collaborating proactively with market participants and lawmakers to craft regulations that genuinely meet the evolving needs of the crypto industry.

Both Peirce and Atkins implicitly criticized the regulatory approach under the previous SEC leadership of Gary Gensler, suggesting it contributed significantly to the current state of uncertainty.

As institutional involvement in crypto grows, Peirce reiterated the urgent need for unambiguous custodial solutions that meet robust legal and regulatory standards.

Without clear guidelines on both custodianship and how different digital assets are classified, she concluded, the US crypto market will continue to struggle to expand securely and fulfill its potential.

The overarching message from the commissioners was clear: a more defined, nuanced, and collaborative regulatory approach is essential for the crypto industry to thrive while ensuring adequate investor protection.

The post ‘Floor is lava’: SEC’s Peirce slams murky US crypto rules, calls for clarity appeared first on CoinJournal.

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Is Bitcoin set for a short squeeze? Analyst points to Binance data

  • Bitcoin has spiked to above $95k, hitting a two month high.
  • Cryptocurrencies are up as stocks rise.
  • CryptoQuant says the benchmark cryptocurrency could see a short squeeze.

Bitcoin price spiked to above $95k on Friday, hitting a two-month high as cryptocurrencies rallied alongside stocks on fresh sentiment around tariffs.

While the BTC price still awaits a retest of $100k, a CryptoQuant analyst says the benchmark cryptocurrency could be poised for a short squeeze.

The move above $92k could be crucial, the analysts said as they pointed to BTC data on Binance.

Why this matters

A short squeeze occurs when a sharp price increase forces short sellers to close their positions, driving further buying and amplifying the rally.

“Bitcoin has just surged above $95K for the first time in 2 months, leaving bearish traders kicking themselves for selling on tariff fears,” analysts at Santiment wrote.

With high-leverage longs already cleared out and short positions stacked above $92,000, Bitcoin is primed for a potential squeeze if it sustains strength above this critical level.

However, if Bitcoin fails to hold $92,000, it could face a correction toward $88,500 or lower, as bearish momentum could take over.

Binance data highlights thinner liquidity above current price levels, meaning there are fewer sell orders to absorb buying pressure.

If Bitcoin breaks above $92,000, the lack of resistance could amplify upward moves, especially if short liquidations add fuel to the rally.

This aligns with the potential for a squeeze, as thin liquidity zones often lead to exaggerated price movements.

Crypto, stocks rally

The heatmap indicates a notable concentration of short positions near the $100,000 level, highlighting a possible short squeeze scenario.

The psychological threshold remains a key target for bullish momentum.

In addition to gains across broader risk assets amid easing US-China trade tensions, other factors may also be influencing Bitcoin’s price movement.

ETF flows, the Federal Reserve’s policy shifts, with Trump saying he will not fire Jerome Powell, are also major points.

“It blows my mind that sophisticated investors really thought it was a good idea to sell American stocks and bitcoin because the President of the United States was implementing pro-America economic policies. Stocks and bitcoin both up since the close of Liberation Day,” Anthony Pompliano said.

However, IntotheBlock data shows over 94% of Bitcoin holders are in profit at current price levels.

If prices surge further, one likelihood would be for some profit taking to kick in, potentially stalling bulls in the short term.

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