Cryptocurrency Summary

Bitcoin is currently treading water near the $90K mark, with Bitfinex warning of a 'fragile setup' that could lead to market shocks. In a notable development, Bitcoin traders are targeting a $20K strike price as deep out-of-the-money options gain traction.

Meanwhile, Ethereum, Cardano, and Solana have shown steady performance, although European traders have driven the deepest Bitcoin sell-off since 2018, according to recent data. The CFTC has launched a digital assets pilot program allowing Bitcoin, Ether, and USDC as collateral, which could pave the way for greater integration of crypto in derivative markets.

On the NFT front, monthly sales have hit a low point for the year, indicating a continuing 'NFT winter.' Furthermore, retail inflows of Bitcoin to Binance have collapsed to a record low of 400 BTC, while approximately 400,000 Bitcoin have been removed from exchanges since last year, hinting at shifting market dynamics.

Finally, Saylor has proposed a Bitcoin-backed banking system to nation-states, showcasing ongoing interest in integrating Bitcoin into traditional finance systems.