Binance&#8217;s FIU was crucial in a global operation led by U.S. and Taiwanese 
authorities, dismantling the $100M Incognito Market darknet drug platform. 
Binance&#8217;s Intelligence Unit Key to International Darknet Drug Bust Binance&#8217;s 
Financial Intelligence Unit (FIU) played a crucial role in &#8220;Operation RapTor,&#8221; 
a global law enforcement initiative led by U.S. and Taiwanese authorities, 
which […]

Binance Helps US and Taiwan Dismantle $100M Darknet Drug Market

Bitcoin has returned to an upward trajectory, with the asset posting a 1.7% 
gain in the last 24 hours to reach $109,505. This marks a 4% increase in the 
past week, placing the cryptocurrency less than 2% below its all-time high of 
$111,000 set last month. The move follows a period of subdued market activity, 
with recent gains occurring in a relatively quiet trading environment. 
Analysts have looked into on-chain indicators for signals of whether the 
current price action is sustainable or approaching overheated levels. 
Particularly, unlike previous rallies driven by sharp price spikes and 
speculative retail demand, the latest growth appears more measured. This has 
prompted the assessment of metrics such as Binary Coin Days Destroyed (CDD), 
MVRV ratio, and exchange premium indexes to gauge underlying investor behavior 
and sentiment. Related Reading: BlackRock’s Bitcoin ETF Becomes Fastest Ever 
To Reach $70 Billion AUM Bitcoin Long-Term Holders and US Demand Drive Quiet 
Accumulation According to an analysis published on CryptoQuant’s QuickTake 
platform by contributor Avocado Onchain, Bitcoin’s current rally is taking 
shape under relatively stable conditions. The analyst points to a declining 
30-day moving average of Binary CDD, a metric that tracks the spending 
behavior of long-term holders. The decrease suggests that these holders are 
not yet exiting the market, indicating a continued confidence in the asset’s 
potential for further gains. Another notable indicator cited in the analysis 
is the Coinbase Premium Index, which measures the difference between Bitcoin 
prices on US-based Coinbase and other global exchanges. This premium is 
increasing and nearing levels observed during Bitcoin’s prior peaks in March 
and December 2024. While elevated premiums can be a warning sign of 
overheating, Avocado notes that the Korea Premium Index remains low, 
suggesting muted activity from retail traders in Asia. This balance implies 
that institutional buying pressure, particularly from US-based investors, 
could be driving the recent momentum. In addition, the MVRV ratio, a 
comparison of Bitcoin’s market value to its realized value, has been rising 
gradually without any sharp jumps. This suggests that the market has not 
entered an extreme greed phase, further reinforcing the idea that the current 
uptrend may have more room to run. Avocado wrote: In summary, rather than 
anticipating a correction, the current indicators suggest that Bitcoin may 
have further room to grow, and this could be a time to carefully monitor the 
potential for continued upside. Whale Activity and Institutional Inflows 
Signal Market Confidence In a separate post, another CryptoQuant contributor 
known as Crypto Dan highlighted consistent buying activity from larger market 
players. His report notes that the Coinbase Premium has been climbing steadily 
since April 21, indicating increased demand from US investors. This trend, 
combined with observations of whale accumulation, points to a strengthening 
market foundation despite the absence of exuberant price behavior. Related 
Reading: Why The Bitcoin Price Could See Another 70%-170% Jump From Here The 
analyst further noted that such patterns are characteristic of post-correction 
recovery phases in Bitcoin’s historical price cycles. So far, the combination 
of long-term holder conviction, institutional demand, and subdued retail 
activity suggests the rally may be advancing on more stable footing than prior 
surges. Featured image created with DALL-E, Chart from TradingView

Why Bitcoin’s Calm Rally Could Be a Setup for a Massive Breakout, Analyst Reveals

Consumer Financial Protection Bureau acting enforcement director Cara Petersen 
has quit, saying that she has never “seen the ability to perform our core 
mission so under attack.”

CFPB’s top enforcer exits with scathing email on Trump: Report

Nearly 30% of the 100 executives at a Fortune 500 firm said their company has 
plans or is interested in stablecoins, up from 8% who said the same last year.

Fortune 500’s interest in stablecoins triples from last year: Coinbase

The Moscow Exchange has launched a bitcoin index, bolstering crypto offerings 
and potentially opening new financial instruments. Moscow Exchange Strengthens 
Crypto Offerings With New Bitcoin Index The Moscow Exchange (MOEX) is taking a 
significant step into the cryptocurrency market with the launch of its new 
MOEX Derivatives Market Bitcoin Index (MOEXBTC). This initiative marks a […]

Cryptocurrency price in USD