Malaysia’s securities regulator is seeking public feedback on a proposal to allow certain cryptocurrencies to be listed on exchanges without prior approval.

Malaysian regulator proposes easing crypto asset listing process

After rebounding from a local bottom of around $75,000 in April, Bitcoin (BTC) 
appears to be stuck in the $100,000 to $110,000 range, showing little 
indication of a clear directional trend. One key data point reflecting this 
indecision is Bitcoin’s network volume. Bitcoin Network Volume Stuck In 
Balance Zone According to a recent CryptoQuant Quicktake post by contributor 
AxelAdlerJr, Bitcoin’s network volume has stabilized in a state of &#8216;stable 
equilibrium,&#8217; reminiscent of the mid-2021 consolidation phase that preceded a 
major move. Related Reading: Bitcoin Binary CDD Hints At Healthy 
Consolidation, Not A Top For the uninitiated, Bitcoin network volume refers to 
the total value of BTC transferred across the blockchain over a specific 
period, typically used to gauge market activity and capital flow. Higher 
network volume suggests increased investor engagement and liquidity, while 
lower volume may indicate reduced interest or market stagnation. Notably, when 
BTC reached the upper end of its current range &#8211; around $110,000 &#8211; its average 
network volume surged to as high as $67 billion. Since then, the metric has 
slightly declined and now hovers around $58.7 billion. Since January 2024, 
Bitcoin’s average network volume has ranged between $40 billion and $80 
billion. According to the CryptoQuant analyst, this corridor has become a key 
indicator of network activity balance and broader market sentiment. 
Historically, when the Bitcoin average volume approached the upper-end of the 
range at $80 billion, it coincided with local price peaks of $70,000 and 
$100,000. On the contrary, moves toward the lower-end &#8211; around $40 billion &#8211; 
were associated with short-term pullbacks, though these dips were often 
quickly bought up by market participants. Currently, the $58.7 billion reading 
sits near the midpoint of this range, mirroring the consolidation phase 
observed in mid-2021. The analyst explained: As long as the indicator remains 
above the $40 billion level, we can speak of a stable fundamental market 
condition. Rising volumes above the $80 billion mark will confirm 
strengthening activity and fresh capital inflow. On the other hand, a 
sustained drop below $40 billion will indicate weakening network demand and 
may be a harbinger of a deeper correction. Is BTC Preparing For A Big Move? 
While Bitcoin network volume suggests the market is in a state of equilibrium, 
some on-chain metrics hint at a potential breakout building in the background 
&#8211; possibly paving the way for renewed bullish momentum. Related Reading: 
Bitcoin Poised For Rally As Geopolitical Tensions Ease And Inflation 
Expectations Fall For example, the BTC short-term holder floor has been rising 
steadily in recent months, currently hovering around $98,000. This provides a 
strong support base, potentially preventing a sharp downside correction. 
However, selling pressure from miners and long-term holders is also beginning 
to increase &#8211; casting some uncertainty over BTC’s short-term price trajectory. 
At press time, BTC trades at $106,528, down 0.9% in the past 24 hours. 
Featured image from Unsplash, charts from CryptoQuant and TradingView.com

Bitcoin Network Volume Echoes Mid-2021 ‘Stable Equilibrium’ – Is A Big Move Brewing?

XRP trades in a tight range between $2 and $2.35, but the next price breakout 
could be driven by ETF speculators.

XRP news update: Traders predict consolidation to $2.35 amid ETF speculation

Wyoming Senator Cynthia Lummis had proposed that the legislation address 
double taxation for cryptocurrency miners and stakers.

US Senate passes Trump’s budget bill without provision on crypto taxes

Senate passed Trump&#8217;s budget bill, while Tesla led with losses on Musk&#8217;s 
renewed feud with the President.

Dow Jones up 300 points as Senate passes Trump’s budget, Tesla drops 8%

Webus&#8217; strategic funding deal could enhance its market position in crypto 
mobility, potentially influencing blockchain adoption in related sectors.
The post Nasdaq-listed Webus inks $100M funding deal with Ripple Strategy 
Holdings to support XRP reserve strategy, stock jumps 130% intraday appeared 
first on Crypto Briefing.