Bitcoin is trading above the $71,000 level as the market navigates heightened 
volatility, reflecting a phase of uncertainty following recent price swings. 
While short-term momentum remains unstable, underlying on-chain data suggests 
that the current market structure may differ significantly from previous 
cycles. Related Reading: Bitmine Locks 68% of Ethereum Holdings As Staking 
Position Surpasses $6.75B According to a CryptoQuant report, UTXO Age Bands 
data for 2025–2026 presents a pattern that contrasts sharply with historical 
bear markets. In both the 2018 and 2021 cycles, the share of Bitcoin held for 
six months or longer declined rapidly, signaling widespread distribution as 
long-term holders exited positions into weakness. In the current cycle, 
however, this dynamic is notably absent. Despite price pullbacks, the 
proportion of long-term held coins is not declining. Instead, it is holding 
steady or even gradually increasing. This suggests that a significant portion 
of capital in the market has no immediate intention to sell, even under 
volatile conditions. This behavior extends beyond traditional “HODLing.” It 
reflects a structural shift in market participants, where capital appears more 
patient and less reactive to short-term price fluctuations. As a result, the 
classic distribution mechanisms that defined previous downturns are not 
manifesting in the same way, challenging conventional interpretations of 
current market conditions. Institutional Flows Redefine Bitcoin’s Market 
Structure The report further explains that since the approval of spot Bitcoin 
ETFs in January 2024, market behavior has undergone a structural shift. 
Institutional participation has diverged meaningfully from traditional retail 
patterns. ETF issuers hold acquired BTC in cold custody structures, meaning 
their selling decisions are largely disconnected from short-term price 
fluctuations. This creates a different supply dynamic compared to previous 
cycles, where retail-driven distribution played a more dominant role. In 
parallel, broader developments such as digital asset treasury (DAT) adoption 
and discussions around national strategic reserves are reinforcing this shift. 
These participants operate with fundamentally different time horizons and risk 
frameworks, raising the threshold at which they are willing to sell. At the 
same time, consistent ETF inflows continue to introduce new demand into the 
market, allowing price dips to be absorbed rather than amplified by excess 
supply. Within this context, the current cycle appears less like a confirmed 
bear market and more like a transitional phase between paradigms. The 
traditional four-year halving cycle is becoming less predictive as 
institutional capital reshapes market dynamics. Looking ahead, the planned 
launch of a bank-issued Bitcoin ETF by Morgan Stanley—with significantly 
larger capacity—further supports this thesis. On-chain data increasingly 
suggests not the start of a downtrend, but the continuation of a structurally 
evolving upcycle. Related Reading: Ethereum Whales Return to Profitability as 
Historical Bottom Signal Reappears Bitcoin Stabilizes Above $70K, but Trend 
Structure Remains Weak Bitcoin is currently trading just above the $71,000 
level, attempting to stabilize after a sharp corrective move that began in 
early February. The chart shows a clear breakdown from prior highs near 
$95,000–$100,000, followed by a steep decline and a subsequent consolidation 
phase. From a structural perspective, BTC remains in a downtrend on the daily 
timeframe. Price continues to trade below the 50-day and 100-day moving 
averages, both of which are trending downward, indicating sustained bearish 
momentum. The 200-day moving average remains significantly above the current 
price, reinforcing longer-term trend weakness and acting as a key resistance 
zone. Related Reading: Ethereum Exchange Inflows Signal Shift: Whales Reduce 
Selling Pressure The recent price action suggests a range-bound recovery 
rather than a confirmed reversal. Bitcoin briefly pushed toward the $74,000 
region but failed to maintain upward momentum, indicating limited buyer 
conviction. Volume analysis supports this, with the largest spikes occurring 
during the sell-off phase, while the recovery has been characterized by 
relatively muted participation. In the near term, the $70,000 level has 
flipped into a key pivot zone. Holding above it is critical for short-term 
stability, while resistance remains in the $73,000–$75,000 range. A break 
below $70K could expose the $65,000 region again, while a sustained reclaim of 
higher levels is required to shift momentum. Featured image from ChatGPT, 
chart from TradingView.com

Bitcoin Structure Has Changed: UTXO Data Challenges Traditional Cycle Narratives

Meta and Arm unveil a new data center CPU built for AI workloads as Meta 
expands its custom silicon stack and gigawatt scale infrastructure.
The post Meta partners with Arm to develop new CPUs for AI deployments 
appeared first on Crypto Briefing.

Meta partners with Arm to develop new CPUs for AI deployments

Tether has hired a Big Four accounting firm to conduct its first full 
financial audit. The move signals a major shift toward deeper transparency in 
the stablecoin sector. New Transparency Push for Tether With Major Financial 
Audit Tether, the issuer of the world’s largest stablecoin, has announced 
plans to undergo its first full independent financial […]

Tether Engages Big Four for First Full Audit

Circle (CRCL) sank about 22%, its worst drop since June 2025, after a tougher 
CLARITY Act draft threatened to ban stablecoin yield, clashing with booming 
USDC growth. Circle Internet Group shares plunged on Tuesday after fresh 
reports that U.S. lawmakers…

Circle stock crashes 22% as U.S. bill targets stablecoin rewards

Lombard CEO Jacob Phillips announced at the Digital Asset Summit that the 
platform enables institutions to earn yield and borrow against Bitcoin without 
moving assets out of custody.

Cryptocurrency price in CNY