Cryptocurrency Summary
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Bitcoin has surged back above $91,000, establishing a support range between $80,000 and $85,000, which reflects a growing bullish sentiment in the market. Meanwhile, Bank of America has greenlighted its wealth advisers to recommend a Bitcoin allocation of up to 4%, signaling a significant shift in institutional acceptance of cryptocurrency investments.
This move could open doors for Bitcoin exchange-traded funds, further integrating crypto into traditional finance. In the altcoin arena, the overall market has experienced a risk-off mood, extending losses for several prominent cryptocurrencies.
Notably, APT has risen 2.3%, outperforming the wider crypto market amidst this prevailing trend. In regulatory news, the SEC has indicated that it has 'enough authority' to drive forward crypto regulations by 2026, a statement made by SEC official Atkins, which could pave the way for clearer guidelines in the sector.
Additionally, the state of Texas has made headlines with its recent Bitcoin reserve move, suggesting a possible shift in government policy towards cryptocurrency assets. Internationally, Russia is contemplating relaxing its crypto regulations in response to Western sanctions, a development that could alter the crypto landscape given the country's significant market potential.
On the technological front, Ethereum's upcoming Fusaka upgrade aims to enhance scalability for rollups without compromising the core network, which could position Ethereum favorably in the competitive blockchain space.
In other developments, Kalshi has introduced tokenized prediction markets on the Solana blockchain, exemplifying the ongoing innovation within the cryptocurrency ecosystem. However, the American Bitcoin stock has seen a drastic tumble of 50%, reflecting volatility and the unraveling of BTC proxy trades.
Furthermore, malicious activities have surfaced as the GlassWorm campaign returns, targeting popular developer tools with 24 malicious extensions, highlighting ongoing security concerns within the crypto space.