Koinbulteni

Last week in Turkey, according to CoinGecko data, the most searched cryptocurrency was Pi Network (PI), reflecting its sustained popularity in the country.

Bitcoin may experience significant price fluctuations due to the movement of 170,000 BTC, signaling potential market turning points. Past patterns show that such movements can precede major price shifts, indicating the possibility of increased volatility in Bitcoin prices. Investors are closely monitoring these movements, as they could signify the beginning of a price movement in the market.

Bitcoin whales continue to accumulate, holding 67.77% of the total supply. Recent data shows these large wallets purchasing an additional 53.6k BTC in the past 4 weeks, potentially influencing market trends and sparking investor interest.

The Bank for International Settlements (BIS) warned about potential risks of cryptocurrencies and decentralized finance (DeFi) systems on financial stability as they reach a critical mass. The BIS report highlighted the increasing integration of DeFi and crypto markets with traditional finance, emphasizing the risks involved. Further research is recommended on the impact of DeFi systems and the relationship with financial stability. Regulatory frameworks similar to traditional finance are proposed for DeFi, including KYC requirements and education for market professionals. The report concludes that more research is needed to understand the future implications of DeFi and how regulatory authorities should approach this evolving sector.

Canary Capital applies for a spot ETF tracking TRX price with staking feature. The ETF, Canary Staked TRX, will stake assets via third-party providers and be protected by BitGo, based on CoinDesk Indices calculations. The proposal suggests a contrasting approach to prior Ethereum ETF rejections by SEC. Under new leadership, a crypto-friendly stance is anticipated, supporting hopes for the TRX ETF's approval and the potential launch of ETFs linked to other cryptocurrencies.

Galaxy Digital, after selling off Ethereum assets, has shifted focus to purchasing Solana (SOL). Recent data shows the company withdrawing 606,000 SOL from exchanges and staking 462,000 SOL, signaling its confidence in Solana's future prospects. This strategic move highlights the growing interest in Solana's transaction speed and performance.

An investor who made a significant profit six months ago by purchasing 19.14 million LUCE (LUCE) faced a $335,000 loss due to a 70% price drop today. Market volatility can lead to substantial gains or losses for cryptocurrency investors, showcasing the risks associated with altcoin investments like LUCE.

Arizona has taken a significant step by introducing a bill to establish a strategic reserve fund using Bitcoin and other crypto assets, allowing them to be used as a strategic digital reserve if the bill becomes law. Governor Katie Hobbs' stance on vetoing laws until funding for disabled individuals is approved poses a challenge to Arizona's crypto reserve plans. Arizona leads in digital reserve progress among states, followed by Texas and New Hampshire.

Swiss supermarket chain Spar in Zug city now accepts Bitcoin payments via Lightning Network, contributing to crypto use in daily transactions. Switzerland's pro-crypto stance is evident as over 1,000 businesses currently accept Bitcoin payments. The country's Crypto Valley ecosystem, hosting projects like Ethereum and Cardano, reflects its growing influence in the crypto sector.

On-chain data indicates decreasing speculative pressure in the Bitcoin market, hinting at a possible recovery signal, reminiscent of the 2024 correction period. Analysts suggest cautious short-term optimism for potential positive movements in 2025.

A whale turned the market dip into a buying opportunity by purchasing 10,328 Ethereum worth $16.37 million at $1,585 each, signaling confidence in market recovery.

Swiss bank Sygnum predicts improvements in crypto regulations could revive the altcoin market by the second quarter of 2025. Despite recent market fluctuations, Sygnum highlights potential for a resurgence in altcoins driven by regulatory enhancements. Bitcoin dominance and new rising protocols are also discussed in the report.