Kalshi is looking to have Nevada’s lawsuit heard in federal court, again 
asserting it is subject only to federal commodity exchange laws.

Nevada sues Kalshi after prediction market loses bid to stop state action

Multiple technical, onchain and exchange-traded product data points suggest 
$1.12 was the generational bottom for XRP. Is it time for a trend reversal?

4 data points suggest XRP price bottomed at $1.12: Are bulls ready to take over?

On-chain analytics firm Glassnode has highlighted how accumulation during the 
recent Bitcoin drop has looked weaker than some past crashes. Bitcoin 
Accumulation Trend Score Doesn&#8217;t Indicate Strong Accumulation In a new post on 
X, Glassnode has talked about the latest trend in the Accumulation Trend Score 
of Bitcoin. This indicator tracks whether the BTC investors are accumulating 
or distributing right now. Related Reading: Bitcoin Bull-Bear Cycle Indicator 
Drops To Deepest Level Since FTX Bottom The metric determines this by taking 
into account for two factors: the balance changes happening in the wallets of 
the holders and the size of the balances themselves. The latter factor means 
that larger entities have a higher weightage in the indicator. When the value 
of the Accumulation Trend Score is greater than 0.5, it means the large 
holders (or a large number of small entities) are in a phase of accumulation. 
The closer is the metric to the 1.0 level, the stronger is this behavior. On 
the other hand, the indicator being under the 0.5 mark suggests distribution 
is dominant on the network. The selling can be considered the strongest at a 
value of zero. Now, here is the chart shared by Glassnode that shows the trend 
in the 7-day moving average (MA) of the Bitcoin Accumulation Trend Score over 
the last few years: As displayed in the above graph, the Bitcoin Accumulation 
Trend Score took a yellow shade as the cryptocurrency&#8217;s January recovery rally 
topped out and a move downward followed. This suggests that the investors were 
distributing. As the coin has stabilized above $65,000 recently, the 
indicator&#8217;s color has changed to a darker one, implying it has broken back 
above the 0.5 mark. While this is a sign that there has been some accumulation 
at the post-crash price levels, the degree of it hasn&#8217;t been too high. From 
the chart, it&#8217;s apparent that this behavior is in contrast to how the market 
reacted to the November crash. Back then, the Accumulation Trend Score took a 
deep purple shade, indicating an aggressive amount of accumulation from the 
big-money hands. The LUNA and FTX crashes from the 2022 bear market were also 
met with a similarly extreme accumulation behavior. It now remains to be seen 
whether the lack of demand this time around will mean that Bitcoin will take 
some time to settle into a low. Related Reading: 46% Of Bitcoin Supply Now In 
Loss—What It Could Take For A Bottom In some other news, Glassnode has shared 
an update in an X post on how the major Bitcoin on-chain price models are 
looking. As is visible in the graph, Bitcoin&#8217;s decline has meant that its 
price is now trading under all major on-chain pricing models except for the 
Realized Price, corresponding to the cost basis of the network participants as 
a whole. This level is currently located at $54,900. BTC Price Bitcoin has 
stagnated since its recovery from the $60,000 low as its price is still 
floating around the $68,000 level. Featured image from Dall-E, chart from 
TradingView.com

Bitcoin Accumulation Notably Weaker Than Nov 2025 Bounce: Glassnode

PUMP price is tightening below a descending trendline as a new cashback model 
reshapes trader incentives. Pump.fun’s native token PUMP was trading at 
$0.002162 at press time, down 3.2% in the past 24 hours. Over the last seven 
days, it…

PUMP price compresses below descending trendline — will new Cashback Coins fuel rebound?

The rewards model follows months of criticism that too few Pump.fun traders 
were breaking even on the platform, let alone profiting.

Cryptocurrency price in USD