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A coalition of more than 160 former national security, intelligence, and law enforcement officials has urged the U.S. Senate to move forward with the CLARITY Act, arguing that the legislation would strengthen the country’s ability to combat illicit financial activity involving digital assets.

The appeal was outlined in a letter sent to Senate Majority Leader John Thune and Democratic Leader Chuck Schumer. The effort was coordinated by Blockchain Association, which described digital asset market structure reform as a critical issue for both law enforcement and national security.

Former Officials Advocate for Stronger Crypto Oversight

According to the letter, the rapid expansion of cryptocurrency markets worldwide makes it increasingly important for the United States to establish a clear regulatory framework for the industry. The signatories warned that without effective oversight, more crypto activity could migrate to offshore jurisdictions and less transparent markets, making it more difficult for U.S. authorities to monitor transactions and investigate criminal activity.

The group stressed that digital asset activity should operate under U.S. laws and regulatory supervision, arguing that such an approach would enhance national security, improve law enforcement capabilities, and provide investigators with stronger tools to combat financial crimes. They believe the framework would make it more difficult for criminal organizations to launder funds, evade sanctions, and carry out fraud.

Addressing Rising Illicit Crypto Activity

The push for the legislation comes amid growing concerns over illegal cryptocurrency transactions. Data from the Bank Policy Institute indicated that illicit crypto flows increased by 162 percent year over year in 2024.

Supporters of the CLARITY Act maintain that the bill is not intended to reduce regulation. Instead, they say it would strengthen compliance standards, improve enforcement mechanisms, and increase accountability across digital asset markets.

The proposed legislation would expand the scope of the Bank Secrecy Act to cover digital commodity brokers, dealers, and exchanges. It would also introduce anti money laundering requirements, reporting obligations, and transaction monitoring standards.

In addition, the bill proposes a Treasury led information sharing pilot program involving agencies such as the Department of Justice, FBI, and DEA. It would also establish a permanent interagency working group focused on combating illicit finance.

Industry Engagement in Washington

The Blockchain Association said its members and other industry stakeholders will travel to Washington, D.C., for meetings with representatives across 18 Senate offices. The organization is also preparing a virtual town hall later this week to discuss the role of the CLARITY Act in supporting law enforcement and national security objectives.

Expected participants include Cynthia Lummis, Tom Emmer, and Patrick Witt.

The letter concludes by urging senators to approve the CLARITY Act. While the legislation recently cleared the Senate Banking Committee, it continues to face opposition from some lawmakers and members of the banking industry.#crypto#cryptonews https://coinsignals.net https://t.me/coinsignalpublic

The United States has imposed sanctions on Nobitex, Iran’s largest cryptocurrency exchange, along with three other Iranian digital asset platforms, as part of the Trump administration’s Economic Fury initiative designed to intensify financial pressure on Tehran.

The sanctions, announced by the US Department of the Treasury’s Office of Foreign Assets Control (OFAC), target Nobitex, Wallex, Bitpin, and Ramzinex. US authorities claim these exchanges helped users evade international sanctions, supported financial activities tied to Iran, and processed transactions linked to the Islamic Revolutionary Guard Corps (IRGC).

Concerns Over Terror Financing and Sanctions Evasion

In a statement released this week, Treasury Secretary Scott Bessent said Iran has increasingly relied on digital asset technologies to further what he described as its corrupt agenda. According to Bessent, these technologies have been used to bypass sanctions and move wealth outside the country. He emphasized that the Treasury Department will continue monitoring financial activities across both traditional banking systems and digital asset networks as part of broader efforts to prevent Iran from advancing its nuclear program.

Treasury officials stated that Nobitex handled more than half of all cryptocurrency inflows into Iran during 2025, making it a key player in the country’s digital asset sector. The agency alleges that the exchange facilitated payments connected to terrorist financing, sanctions avoidance, and transactions involving the IRGC, including operations linked to ransomware groups associated with the organization.

Authorities also claim Nobitex enabled the Central Bank of Iran to access hundreds of millions of dollars in stablecoins used to support the Iranian rial. In addition, the exchange allegedly helped regime insiders gain access to international cryptocurrency platforms across several jurisdictions.

Treasury officials further stated that Nobitex assisted in safeguarding and transferring assets abroad despite internet disruptions that occurred from the beginning of the conflict. Alongside the sanctions against the company, OFAC designated several executives and officials, including Amir Hossein Rad, the exchange’s chairman, cofounder, and former chief executive officer.

According to Treasury findings, Rad played a key role in restoring Nobitex’s operations following a $90 million cyberattack in June 2025.

The agency also sanctioned Nobitex cofounders Seyed Mohammad Ali Aghamir Mohammad Ali and Seyed Mohammad Aghamir Mohammad Ali, both members of the Kharrazi family, which Treasury described as being closely connected to Supreme Leader Mojtaba Khamenei’s inner circle. Current Nobitex CEO Seyed Ali Khoee was also included in the sanctions.

Wallex, Bitpin, and Ramzinex Also Face Sanctions

Treasury identified Wallex as Iran’s second largest cryptocurrency exchange by trading volume, stating that it received approximately 12 percent of the country’s digital asset inflows in 2025 and allegedly facilitated transactions linked to the IRGC.

Bitpin accounted for roughly 10 percent of Iranian cryptocurrency inflows during the same period and reportedly processed millions of dollars in transactions, including transfers allegedly connected to the IRGC. Treasury also noted that some of the platform’s investors have been associated with efforts to circumvent US sanctions.

Ramzinex, a Tehran based exchange established in 2018, has processed more than $2.45 billion in transactions. US authorities allege that it facilitated financial activities linked to both the IRGC and a financial institution backed by the Iranian government.#crypto#cryptonews https://coinsignals.net https://t.me/coinsignalpublic

According to Matt Hougan, the cryptocurrency market is no longer attracting the same level of excitement it once did, with investors increasingly viewing digital assets as a contrarian opportunity rather than a momentum driven trade.

In a recent market memo, Hougan argued that the current downturn reflects a broader shift in investor behavior, as capital flows away from speculative hype and toward assets with stronger fundamentals and long term utility.

AI Boom Is Drawing Attention Away From Crypto

Hougan highlighted the weak performance of major cryptocurrencies this year as evidence of fading enthusiasm across the sector. Bitcoin has declined 24%, while Ethereum, Solana, and XRP have suffered even steeper losses. At the same time, cryptocurrency exchange traded funds have experienced outflows, and spot trading activity has fallen to some of its lowest levels in years.

A major factor behind this trend, he said, is the overwhelming interest in artificial intelligence related investments. Investors have increasingly favored AI stocks, robotics firms, and private technology companies, while the technology heavy Nasdaq 100 index has posted strong gains over the past year.

As a result, crypto is no longer benefiting from the momentum driven enthusiasm that characterized previous market cycles. Instead, Hougan believes it has evolved into a sector that rewards patience, long term conviction, and careful analysis of project fundamentals.

This shift is also influencing where capital is being deployed. Investors are increasingly focusing on projects with measurable revenue and sustainable business models, such as Hyperliquid, rather than purely narrative driven opportunities.

Regulatory Uncertainty Remains a Major Obstacle

The second challenge identified by Hougan is ongoing uncertainty surrounding the proposed Clarity Act in the United States.

The legislation aims to establish a comprehensive regulatory framework for digital assets and has recently advanced through important legislative stages. However, its ultimate fate remains unclear.

According to Hougan, this uncertainty is creating hesitation among institutional investors. Faced with the choice between high growth opportunities in the artificial intelligence sector and crypto assets that still face regulatory ambiguity, many investors are choosing the former.

He suggested that large cap cryptocurrencies may struggle to sustain a meaningful rally until there is greater clarity regarding regulation. In his view, the resolution itself matters more than whether the legislation ultimately passes or fails because markets can adapt to either outcome. What continues to weigh on sentiment is the lack of certainty.

Market Rotation Signals a Different Kind of Crypto Winter

Despite the weakness in major cryptocurrencies, Hougan believes the current market environment differs from previous bear cycles.

Historically, investors tended to move capital into Bitcoin during periods of uncertainty. This time, however, money appears to be flowing into smaller digital assets that demonstrate stronger fundamentals and clearer growth prospects.

He pointed to recent gains in projects such as Hyperliquid, Zcash, and Stellar, all of which have significantly outperformed larger cryptocurrencies over the past month despite the broader market downturn.

According to Hougan, this rotation suggests investors are becoming more selective and placing greater emphasis on fundamentals rather than simply chasing momentum. He sees this as a potentially constructive sign that the market may be progressing toward the later stages of the current downturn rather than the beginning.

While he acknowledged that near term conditions could remain difficult, Hougan believes the growing focus on quality projects could indicate that the industry is gradually laying the groundwork for its next growth phase.

Analysts Remain Divided on the Outlook

Not all market observers share Hougan’s optimism.

Crypto analyst Doctor Profit has repeatedly warned that the market may face a deeper capitulation phase. He expects Bitcoin to fall below $60,000 before eventually finding a cycle bottom somewhere between $40,000 and $50,000 later in 2026.

Meanwhile, Ki Young Ju has taken an even more cautious stance, suggesting that the current bear market could potentially extend into early 2027.

The contrasting views highlight the uncertainty that continues to define the crypto market, with some analysts seeing signs of an approaching recovery while others believe additional downside remains possible.#crypto#cryptonews https://coinsignals.net https://t.me/coinsignalpublic

Dogecoin (DOGE) extended its recent losses on Wednesday, falling more than 5% as broader market weakness continued to weigh on cryptocurrencies. Despite the decline, some analysts believe the meme coin may be approaching a historically significant accumulation zone that has previously preceded some of its strongest rallies.

Long Term Indicator Points to Accumulation

Market analytics firm Alphractal highlighted Dogecoin’s position within its Cumulative Value Days Destroyed (CVDD) Channel model, an on chain metric designed to estimate an asset’s structural cost basis.

The model assigns weight to coin movements based on both their value and the length of time the coins remained inactive before being moved. Historically, periods when DOGE traded near the lower boundary of the CVDD channel have coincided with major accumulation phases, while moves toward the upper Alpha CVDD band have aligned with significant market tops.

According to Alphractal, Dogecoin is currently trading close to the lower CVDD range near $0.10 to $0.11. Similar conditions emerged in late 2014, mid 2020, and mid 2023, all of which were followed by substantial price advances. Following those accumulation periods, DOGE recorded gains estimated at 25,000%, 18,000%, and 500%, respectively.

Analysts See Consolidation Rather Than Weakness

Alphractal argues that the current lack of excitement surrounding Dogecoin should not be viewed as a negative signal. Historically, major market narratives tend to develop after accumulation phases rather than before them.

The firm also pointed to Dogecoin’s prolonged sideways trading over the past year as evidence of investors steadily rebuilding the asset’s cost basis. According to the analysis, traditional trading volume metrics may not fully capture this activity because the CVDD framework focuses on value weighted holding behavior rather than transaction counts.

As a result, Alphractal believes the market is witnessing a period of quiet accumulation rather than a sign of declining interest.

Potential Upside Target Near $0.85

Using its Alpha CVDD model, which the firm says has successfully identified previous major Dogecoin cycle peaks, Alphractal estimates an upper target zone around $0.85.

If achieved, that level would represent a gain of roughly 7.7 times from current prices.

The firm emphasized that Dogecoin remains the largest and most widely distributed meme coin in the market, with a longer historical record than any other asset in its category. Based on the current setup, Alphractal believes DOGE is displaying characteristics similar to those seen near previous cycle bottoms.

While many investors have begun to view Dogecoin as a fading meme asset, the firm’s analysis suggests the chart may instead be signaling a market preparing for a significant move.

Additional Bullish Signals Emerge

Alphractal also suggested that Dogecoin could potentially triple in value before artificial intelligence themed meme coins become the dominant narrative in the sector.

Adding to the bullish outlook, crypto analyst Ali Martinez recently reported that the TD Sequential indicator generated a buy signal on Dogecoin’s chart. Several other market commentators have echoed similar views, arguing that the asset may be approaching a breakout point after an extended period of consolidation.

Although market conditions remain volatile, proponents of the bullish case believe DOGE’s current positioning resembles previous accumulation phases that ultimately led to substantial price appreciation.#crypto#cryptonews https://coinsignals.net https://t.me/coinsignalpublic

Concerns briefly emerged on Wednesday after the Zcash blockchain appeared to stop producing new blocks for several hours, leading some users to speculate that the network had suffered an outage.

However, industry participants later clarified that the blockchain itself remained fully operational. The issue was traced to block explorers that failed to update correctly, creating the false impression that network activity had come to a halt.

Faulty Explorer Data Triggered Confusion

Earlier in the day, several block explorers showed no activity beyond block 3,364,603, which was recorded at 5:28 a.m. UTC. With no additional blocks appearing for more than four hours, rumors quickly spread that the Zcash network had gone offline.

Responding to the speculation, Mert Mumtaz dismissed claims of an outage and explained that the blockchain continued processing transactions normally.

According to Mumtaz, the problem stemmed from certain block explorers relying on a malfunctioning node. Because those services were receiving incorrect data, they failed to display newly produced blocks even though the chain itself remained active and healthy.

Network Upgrade Was Underway

The confusion came shortly after a coordinated protocol upgrade within the Zcash ecosystem aimed at addressing a security vulnerability involving Orchard, the network’s newest shielded transaction pool.

The upgrade process was initiated on June 1 after developers identified an issue affecting Orchard. In response, ecosystem participants, including developers, miners, infrastructure providers, exchanges, and community contributors, coordinated efforts to temporarily restrict Orchard related transactions while a fix was implemented.

The remediation took place in two phases through network consensus.

The first phase involved a soft fork that temporarily disabled Orchard functionality by blocking both the creation of new Orchard outputs and spending from existing Orchard funds. This approach helped reduce the risk of exposing sensitive technical details while developers worked on a solution.

The second phase introduced a hard fork that fully resolved the vulnerability and restored Orchard operations through updates to the network’s zero knowledge proof system.

Following the successful upgrade, Orchard transactions were reactivated.

According to the Zcash Open Development Lab, there is no evidence that the vulnerability was ever exploited. The organization stated that no unauthorized tokens were created, the total supply of ZEC remained unaffected, and user funds were never at risk. The issue was isolated to Orchard and did not impact Sapling or transparent transactions.

The vulnerability was originally identified during security reviews conducted by Zcash researcher Taylor Hornby, with remediation efforts coordinated by the Zcash Open Development Lab and the Zcash Foundation.

ZEC Continues to Outperform the Broader Market

Despite the temporary confusion surrounding the network, Zcash’s native cryptocurrency has maintained strong momentum.

ZEC has gained nearly 45% over the past month and was trading around $59.90 after adding another 4% during the latest 24 hour period.

Crypto analyst Ali Martinez recently noted that the TD Sequential indicator on ZEC’s 12 hour chart generated a bullish signal, suggesting the possibility of further upside. According to his analysis, maintaining support above the $50 level could pave the way for a move toward $64.20.

Meanwhile, blockchain analytics platform Santiment reported that ZEC has become one of the most discussed assets across crypto social media. The token recorded multiple spikes in social dominance, with its highest engagement score reaching 10.02 on May 20, highlighting growing interest from traders and investors.#crypto#cryptonews https://coinsignals.net https://t.me/coinsignalpublic

Global payments leader Mastercard has expanded its stablecoin strategy, deepening its involvement in blockchain based financial services and highlighting the growing role of digital assets in mainstream payments.

The company announced enhanced settlement capabilities that now support several major dollar backed stablecoins, including Ripple’s RLUSD, Circle’s USDC, Paxos issued PYUSD, USDG, USDP, and SoFiUSD. The initiative also extends across multiple blockchain networks, including the XRP Ledger, Ethereum, Solana, Arbitrum, and Base.

Mastercard Expands Stablecoin Settlement Capabilities

The latest development allows merchants and ecosystem partners to settle transactions using supported stablecoins, marking a significant step beyond experimental programs and toward practical commercial adoption.

The move is part of Mastercard’s broader digital asset strategy centered around its Multi Token Network, a platform designed to connect traditional financial infrastructure with blockchain technology. Through this framework, the company has been building partnerships with major players across both the crypto and payments sectors, including Binance, Ripple, and PayPal.

Mastercard further strengthened its position in the stablecoin market earlier this year through the acquisition of payments firm BVNK in a deal valued at approximately $1.8 billion, underscoring its commitment to expanding blockchain powered financial services.

RLUSD Joins a Growing List of Institutional Stablecoins

Ripple’s RLUSD has attracted increasing interest due to Ripple’s established presence in global cross border payment solutions. However, Mastercard’s latest initiative is not focused on a single issuer.

The program incorporates a diverse group of widely used stablecoins, including USDC and PYUSD, both of which have already gained traction among institutional users and payment providers. By supporting multiple issuers and networks, Mastercard is positioning itself as a neutral infrastructure provider that facilitates digital asset transactions across the broader ecosystem.

Stablecoins Continue to Gain Momentum

Mastercard’s expanded support comes at a time when demand for faster and more cost efficient international payments is accelerating. Stablecoins are increasingly viewed as a practical alternative to traditional correspondent banking systems because they can provide near instant settlement, continuous availability, and lower transaction costs.

The company’s decision reflects growing confidence that stablecoins will play an increasingly important role in the future of global finance. Mastercard also emphasized the importance of regulatory compliance, security standards, and interoperability, all of which remain critical requirements for large scale institutional adoption.

According to Raj Dhamodharan, the next stage of stablecoin adoption will be driven by real world utility, particularly in transaction settlement where liquidity and timing are crucial. He noted that new intraday and weekend settlement capabilities will provide partners with greater flexibility to manage funds and operate efficiently within an always available digital economy while maintaining the security and reliability expected from Mastercard’s network.#crypto#cryptonews https://coinsignals.net https://t.me/coinsignalpublic

Ethereum is approaching a critical support level near $1,700 after a broad cryptocurrency market downturn pushed the asset below $1,900. While some traders are concerned about the possibility of further losses, several analysts believe Ethereum’s long term fundamentals remain intact, supported by growing institutional adoption and tightening supply dynamics.

Key Support Level Comes Into Focus

Crypto analyst Bren believes Ethereum is moving decisively toward its February low around $1,700 following what he described as a corrective phase throughout March and April.

In a recent market update, he argued that bullish sentiment earlier in the year was not reflected in Ethereum’s price action, leading him to expect another decline. According to Bren, two scenarios are currently possible. Ethereum could revisit the $1,700 level and establish a double bottom before recovering, or it could break below that support and continue lower.

Despite those short term possibilities, the analyst stressed that neither outcome would alter his broader positive outlook for Ethereum through the remainder of the year.

Bren pointed to increasing institutional involvement in stablecoins and real world asset tokenization as major drivers of future growth. He believes these developments, combined with ongoing demand for speculative and collectible digital assets, create a strong foundation for Ethereum’s long term value proposition.

Institutional Adoption Continues to Strengthen

Similar views were expressed by Avichal Garg, who highlighted Ethereum’s unique position as a neutral financial settlement network.

According to Garg, countries such as China, India, and Brazil are increasingly interested in financial infrastructure that is not controlled by any single nation. He argued that Ethereum’s neutrality gives it significant geopolitical relevance as global financial systems evolve.

Garg also noted that interest from traditional finance remains strong, claiming that many firms on Wall Street are actively exploring Ethereum based solutions.

Institutional activity appears to support that view. Blockchain analytics platform Lookonchain recently reported that Bitmine, chaired by Tom Lee, received an additional 25,000 ETH from BitGo, valued at roughly $48 million, despite the recent decline in Ethereum’s market price.

Supply Dynamics Support the Bullish Thesis

Although Ethereum has fallen approximately 9.5% over the past week and suffered heavy liquidations during the latest market selloff, several indicators suggest a more constructive long term outlook.

Data cited by CryptoQuant contributor CryptoOnchain shows that more than 32% of Ethereum’s circulating supply, equivalent to about 39.5 million ETH, is currently locked in staking. At the same time, exchange balances continue to decline, reducing the amount of ETH readily available for trading.

A shrinking liquid supply could create favorable conditions for future price appreciation if demand strengthens.

Meanwhile, analysts at Arab Chain observed that Ethereum funding rates on Binance have climbed to their highest levels since the beginning of 2026. The increase reflects a growing number of leveraged bullish positions entering the market.

This development can be interpreted in two ways. It may signal that traders expect a rebound from current levels, or it could indicate an overcrowded trade that becomes vulnerable to additional liquidations if prices continue moving lower.

While Ethereum remains under pressure in the short term, many market observers believe institutional adoption, staking growth, and declining exchange reserves continue to support a stronger long term investment case.#crypto#cryptonews https://coinsignals.net https://t.me/coinsignalpublic

Bitcoin came under renewed selling pressure over the past 24 hours, falling to its lowest level in roughly two months before staging a modest recovery. Despite the broader market weakness, several altcoins posted strong gains, outperforming the rest of the crypto sector.

Bitcoin Recovers After Sharp Decline

Since losing the crucial $80,000 support zone at the end of May, Bitcoin has remained trapped in a sustained downward trend. The asset initially slipped to around $76,000 before sellers intensified the pressure, pushing prices below $73,000 by month end.

A brief recovery toward $74,000 failed to gain momentum as another wave of selling emerged. The downturn accelerated at the start of June, with Bitcoin falling below the $70,000 mark and extending losses into the following session.

The selloff reached its lowest point earlier today when Bitcoin dropped to approximately $65,300, marking its weakest trading level in nearly two months.

Buyers eventually stepped in and helped stabilize the market. Bitcoin has since recovered about $2,000 from its intraday low and is currently trading near $67,000. Even so, some bearish analysts continue to warn that a break below the $50,000 support area could open the door to a much deeper correction.

Bitcoin’s market capitalization remains around $1.35 trillion, while its share of the overall cryptocurrency market continues to decline, with dominance slipping below 56%.

A Handful of Altcoins Post Strong Gains

While most major cryptocurrencies remain under pressure, a select group of altcoins has managed to deliver impressive gains despite the market downturn.

Ethereum has fallen below $1,900 after losing nearly 5% over the past day. Solana has also retreated sharply, while XRP recovered slightly after dropping to $1.20 before rebounding toward $1.24.

Several other large cap assets remain deep in negative territory, including Bitcoin Cash, Dogecoin, and HYPE, which recorded one of the steepest declines with an 11% drop.

In contrast, DEXE and ENA emerged as the strongest performers, each surging more than 20% within 24 hours. ONDO, WLD, and VVV also posted double digit gains, standing out as rare bright spots during a broadly bearish trading session.

The total cryptocurrency market capitalization briefly slipped below $2.35 trillion earlier in the day before recovering to approximately $2.4 trillion, reflecting a modest improvement in overall market sentiment.#crypto#cryptonews https://coinsignals.net https://t.me/coinsignalpublic

Longtime Bitcoin skeptic Peter Schiff has issued another bearish forecast for the leading cryptocurrency, warning that Bitcoin could plunge below $20,000 if it loses support at the $50,000 level.

His comments came as Bitcoin traded near $67,000, having declined more than 4% in a single day and over 16% during the previous month.

Schiff Says Investor Confidence Remains Too High

According to Schiff, the biggest concern is not Bitcoin’s recent price weakness but the level of optimism that still exists among investors.

In a post on X, he argued that market participants remain far too comfortable despite the ongoing decline. Schiff suggested that a break below $50,000 could trigger a rapid selloff, potentially sending Bitcoin under $20,000 and forcing many long term holders to abandon their positions.

The economist has repeatedly maintained that investors seeking stability are more likely to turn to traditional safe haven assets during periods of market stress. He recently questioned whether a major Bitcoin crash would drag down broader risk markets or remain isolated within the digital asset sector, arguing that either scenario could encourage a shift toward perceived stores of value such as gold.

Concerns Over Strategy’s STRC Structure

Schiff also renewed his criticism of Strategy, focusing specifically on its STRC preferred stock offering.

At the time of his remarks, STRC shares were trading below $96, pushing the effective yield to roughly 12%. Schiff argued that if investors begin to doubt the company’s ability to maintain those payments, the share price could continue falling. In that situation, Strategy might be forced to increase the coupon rate to keep the stock trading near its $100 face value, creating what he described as a potential downward spiral.

His comments followed Strategy’s sale of 32 BTC, its first Bitcoin sale since 2022. The company reportedly used the approximately $2.5 million generated from the transaction to help fund preferred stock dividend obligations.

Despite the sale, Strategy remains one of the largest corporate Bitcoin holders in the world, with more than 843,000 BTC on its balance sheet. As a result, the 32 BTC disposal represented only a tiny fraction of its overall holdings.

Market Participants Disagree With Schiff’s Outlook

Not everyone shares Schiff’s pessimistic view. Crypto commentator Alex Marzell dismissed the idea that a drop to $20,000 would shake investor conviction, joking that such a move would simply test how much cash he had available to buy more Bitcoin.

Similarly, Gracy Chen indicated that she would view a decline toward $50,000 as a buying opportunity. Chen believes Bitcoin’s long term outlook remains supported by global monetary expansion, which could continue driving demand for hard assets such as Bitcoin and gold.

However, she acknowledged several short term risks, including continued inflation pressures, the possibility of higher interest rates, and additional selling from large holders such as Strategy and creditors linked to the collapsed Mt. Gox exchange. She also warned that major artificial intelligence related public offerings could divert liquidity away from crypto markets.

Demand Weakness Remains a Key Concern

Meanwhile, Julio Moreno said Bitcoin demand is shrinking at an estimated monthly rate of 232,000 BTC. He argued that the current correction is being driven primarily by weakening demand rather than broader macroeconomic or stock market developments.

His assessment aligns with a recent report from Bitfinex, which suggested Bitcoin has entered a prolonged distribution phase characterized by declining investor conviction and persistent selling pressure. According to the report, the market is showing signs of a gradual erosion in momentum rather than a sudden capitulation event.#crypto#cryptonews https://coinsignals.net https://t.me/coinsignalpublic

The cryptocurrency market experienced a sharp selloff over the past 24 hours, wiping out roughly $140 billion in value and pushing total market capitalization down to $2.37 trillion, its lowest level since early April.

The steep decline triggered widespread liquidations across the market. Data from Coinglass shows that more than 265,000 traders were liquidated during the period, with total losses reaching $1.63 billion. Long positions accounted for nearly 89% of those liquidations, with Bitcoin and Ethereum traders bearing the brunt of the damage.

Joao Wedson, founder of Alphractal, warned that additional downside pressure could emerge as prices approach key liquidation zones. He noted that once prices begin accelerating toward these levels, a wave of automated liquidations can spread rapidly across multiple exchanges, intensifying market volatility.

Large Bitcoin Holders Continue Selling

According to blockchain analytics firm Santiment, the recent decline in cryptocurrency prices, especially Bitcoin’s weakness over the past week, has been driven largely by selling activity from major holders.

The firm reported that wallets holding between 10 and 10,000 BTC sold a combined 24,602 Bitcoin during the last seven days. In contrast, smaller investors with balances below 0.01 BTC accumulated only 61 Bitcoin over the same period, highlighting a significant imbalance between large scale selling and retail buying.

Market sentiment has also deteriorated sharply. Santiment observed that social media discussions reflect a growing sense of fear among traders, with many reacting negatively to Bitcoin’s lowest valuation since early April. The firm added that concerns surrounding sales linked to Michael Saylor’s Strategy have contributed to the bearish mood.

Long time Bitcoin critic Peter Schiff argued that investor confidence remains too high for the market to have reached a true bottom. He suggested that a break below the $50,000 level could trigger a much deeper correction, potentially forcing long term holders to capitulate.

Meanwhile, Bitcoin author Adam Livingston described the latest decline as a severe selloff, characterizing it as the type of market move that often sparks panic among retail investors.

Bitcoin and Ethereum Extend Losses

Bitcoin fell approximately 6% during the session, touching $65,300 in early Asian trading before stabilizing near $66,500. The flagship cryptocurrency remains under significant pressure and has yet to recover from its two month low.

Ethereum suffered even steeper losses, dropping 7% to around $1,850, its weakest level in four months. Analysts have been warning of a deeper correction across the digital asset market, and recent price action suggests those concerns may now be materializing.

With large holders continuing to reduce exposure, institutional demand remaining subdued, and market sentiment firmly in fear territory, investors are closely watching whether support levels can hold or if another wave of selling is on the horizon.#crypto#cryptonews https://coinsignals.net https://t.me/coinsignalpublic