The U.S. Securities and Exchange Commission has released new commentary on stablecoins, with the agency’s Division of Corporation Finance noting that this is part of the effort to provide further regulatory clarity. SEC said in a news release that the…

SEC says “Covered Stablecoins” not under its jurisdiction

Coinbase is preparing to launch U.S.-regulated, 24/7 bitcoin and ethereum 
futures, aiming to modernize trading access and introduce perpetual-style 
contracts amid rising demand. Coinbase Sets May 9 Launch for Regulated 24/7 
Bitcoin and Ethereum Futures Trading in US Crypto exchange Coinbase (Nasdaq: 
COIN) announced on April 4 that it will introduce the first U.S.-regulated 
24/7 […]

Coinbase Launching US Regulated 24/7 Bitcoin Futures

Wall Street experienced one of its steepest declines since March 2020; 
however, in contrast to that earlier downturn years ago, bitcoin’s price 
remained largely unaffected during Friday’s equity market turmoil. This 
divergence has sparked widespread discussion about BTC potentially functioning 
as a “hedge.” Bitcoin’s Uncorrelated Performance in March 2025 Turns Heads 
U.S. equity markets recorded […]

Uncorrelated and Unshaken: Bitcoin Gains Favor as Wall Street Crashes

Bitcoin has seen yet another bounce in the past day, adding to the recent 
series of rebounds. Here&#8217;s what on-chain data says regarding if BTC is going 
anywhere with them. Bitcoin Realized Profit/Loss Ratio Could Shed Light On 
Broader Dynamics In its latest weekly report, the on-chain analytics firm 
Glassnode has discussed about the recent trend in the Realized Profit/Loss 
Ratio for Bitcoin, which is an indicator that can be useful to study how 
investors are reacting to price volatility. Related Reading: Dogecoin To $0.57 
Or $0.06? Analyst Says DOGE’s Fate Hinges On This Level The metric measures, 
as its name already suggests, the ratio between the amount of profit and that 
of loss being realized by the holders or addresses as a whole. The indicator 
works by looking at the transaction history of each coin being sold on the 
network to find what price it was transferred at prior to this sale. If this 
previous selling value is less than the latest spot price for any token, then 
the metric includes it under the profit volume. The total profit realized in 
the sale of the coin is assumed to be equal to the difference between the two 
prices. The indicator calculates this value for all coins belonging to the 
profit volume and takes a total sum to determine the scale of profit 
realization happening across the blockchain. Similarly, the Realized 
Profit/Loss Ratio also finds the total amount of loss being realized by 
referring to the sales of the coins of the opposite type (that is, the tokens 
with the last transaction value higher than the current spot price). Then, it 
takes the ratio between the two sums, to estimate the net situation for the 
sector. During the last couple of months, Bitcoin has been going through a 
phase of bearish price action. Here&#8217;s what investor trading behavior has been 
like in this period, according to the Realized Profit/Loss Ratio: As the 
analytics firm has highlighted in the chart, the indicator has seen dips under 
the 1 mark during each of BTC&#8217;s recent lows. A value in this region 
corresponds to loss-taking being more dominant than profit-taking. &#8220;This 
imbalance typically marks a degree of seller exhaustion, where downside 
momentum fades as sell-side pressure is absorbed,&#8221; explains Glassnode. Due to 
this reason, capitulation tends to help BTC arrive at local bottoms. From the 
graph, it&#8217;s visible that the cryptocurrency also benefited from this effect 
during the recent bursts of loss realization, as its price found a rebound 
following each of them. These Bitcoin rebounds, however, have so far not been 
anything sustained. Will they eventually culminate into a return of proper 
bullish momentum, or are they only dead-cat bounces on the way down? To tackle 
the question, the analytics firm has referred to a long-term view of the 
Realized Profit/Loss Ratio. As shown in the above chart, the 90-day simple 
moving average (SMA) of the Bitcoin Realized Profit/Loss Ratio has been 
sharply trending down recently, despite the jumps in profit realization that 
have come on the short-term view. &#8220;These brief profit-driven surges have 
failed to reverse the broader downtrend, suggesting that the macro picture 
remains one of generally weaker liquidity and deteriorating investor 
profitability,&#8221; notes Glassnode. Related Reading: Dogecoin, XRP Among Coins 
Seeing The Largest Decline In Profit Supply: Data So, as for whether Bitcoin 
has been witnessing a shift towards bullish momentum with the recent rebounds, 
the answer is seemingly no, at least from the perspective of the Realized 
Profit/Loss Ratio. BTC Price At the time of writing, Bitcoin is trading around 
$83,600, down almost 2% in the last seven days. Featured image from Dall-E, 
Glassnode.com, chart from TradingView.com

Bitcoin Keeps Rebounding—But Is Momentum Really Turning Bullish?

Max Keiser, international journalist and current cryptocurrency advisor to the 
Bukele Administration, has referred to the resilience of bitcoin in the face 
of the new tariff-based trade order enacted by President Trump. Keiser stated 
that, even with the great reset kickstarted by Trump&#8217;s measures, traditional 
finance moves will not be able to bring a sustained […]

Bitcoin Permabull Max Keiser: Trump’s Great Reset Reinforces Bitcoin Status as the Best Hedge

Cryptocurrency firms felt the heat from US President Donald Trump&#8217;s sweeping 
tariff rollout this week as market turbulence sent share prices tumbling and 
foiled initial public offering (IPO) plans.
From exchanges to Bitcoin (BTC) miners, crypto stocks suffered as much, if not 
more, than shares of other companies &#8212; despite the industry&#8217;s warm 
relationship with the US president.
On April 2, Trump announced he was placing tariffs of at least 10% on 
practically all imports into the United States and adding additional 
&#8220;reciprocal&#8221; tariffs on some 57 countries.
Since then, major US stock indices &#8212; including the S&amp;P 500 and Nasdaq &#8212; 
tumbled by roughly 10% as traders braced for a looming trade war.
_Bitcoin miners sold off on Trump &#8216;s tariff news. Source: __Morningstar_
 _**Related:**__**Bitcoin &#8216;decouples,&#8217; stocks lose $3.5T amid Trump tariff war 
and Fed warning of &#8216;higher inflation&#8217;**_
## Sharp selloffs
Crypto exchange Coinbase &#8212; a prominent ally of Trump during the November US 
elections &#8212; experienced a similarly severe sell-off, with its stock price 
dropping by roughly 12% during the same period, according to data from Google 
Finance.
Bitcoin miners are also taking a hit. The CoinShares Crypto Miners ETF (WGMI) 
&#8212; which tracks a diverse basket of Bitcoin mining stocks &#8212; has lost roughly 
13% of its value since immediately prior to Trump&#8217;s April 2 announcement, 
according to data from Morningstar.
Even Strategy, one of the best-performing stocks of 2024, wasn&#8217;t immune. Its 
share price has fallen by around 6% on the news, Google Finance data showed.
According to Reuters, investment bank JPMorgan has raised its estimated odds 
of a global economic recession in 2025 to 60% from 40% previously.
&#8220;Disruptive U.S. policies have been recognized as the biggest risk to the 
global outlook all year,&#8221; JP Morgan reportedly said.
&#8220;The effect &#8230; is likely to be magnified through (tariff) retaliation, a 
slide in U.S. business sentiment and supply-chain disruptions.&#8221;
_Strategy &#8216;s shares also dropped this week. Source: __Google Finance_
## IPO delays
The impact of US tariffs hasn&#8217;t been limited to stock price volatility. 
Stablecoin issuer Circle has reportedly paused plans for a 2025 IPO, citing 
market turbulence.
According to The Wall Street Journal, Circle is &#8220;waiting anxiously&#8221; before 
taking further steps after filing to take the company public on April 1.
It is among several companies &#8212; including fintech Klarna and ticketing 
service StubHub &#8212; reportedly considering altering or shelving IPO plans.
One exception may be Bitcoin itself, which some analysts say is finally 
&#8220;decoupling&#8221; from the broader market.
Bitcoin&#8217;s spot price has held above $82,000 this week, even as US equities 
markets collapsed.
_**Magazine: **__**Unstablecoins: Depegging, bank runs and other risks 
loom**_