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Bitcoin (BTC) fell to $80,000 on the 10th as over $300 million was liquidated in the futures market. According to on-chain analysis platform CoinGlass, the sharp drop of about 2% in Bitcoin on the 10th was due to the liquidation of a large long (bullish) bet accumulated at $84,300 on the 9th.
2. Foreign media "Bitcoin bottom at $69,000"
Cryptocurrency media CoinTelegraph predicted on the 10th that the bottom for Bitcoin against Tether (USDT) is $69,000, based on the graph. CoinTelegraph presented Bitcoin's 50-week moving average (MA) and estimated a 95% probability of Bitcoin maintaining above $69,000.
3. Expert "Fed's refusal to cut rates could lead to a downtrend"
Cryptocurrency expert Timothy Peterson argued on his X account on the 9th that the Federal Reserve's refusal to cut interest rates could be a major trigger for a downtrend in the cryptocurrency market. He cited recent comments by Fed Chair Jerome Powell and other reasonable evidence that the Fed may refuse to cut rates, which could push Bitcoin down to the low $70,000s.
4. US OCC allows 1,200 banks to adopt cryptocurrencies
The US Office of the Comptroller of the Currency (OCC) officially announced on the 8th that banks under its supervision can engage in certain cryptocurrency activities. The OCC stated that "banks under the OCC can custody crypto assets, adopt stablecoins, and participate in blockchain networks." The OCC supervises around 1,200 banks in the US.
5. Coinbase "to hire 1,000 in the US"
Coinbase announced that it plans to hire about 1,000 employees in the US as part of its business expansion in the country under the pro-cryptocurrency administration. Coinbase CEO Brian Armstrong said on his X account on the 8th that "President Trump has breathed new life into the cryptocurrency industry" and that the company plans to hire around 1,000 people in the US this year.
