Coinbase (COIN) reported a multi-hour disruption to crypto trading on Thursday, which the Nasdaq-listed exchange attributed to an outage at Amazon Web Services. The incident drew criticism as Coinbase continues to grapple with declining trading activity, quarterly losses, and staff layoffs.

The crypto trading platform said users were unable to transact across web and mobile services after failures hit multiple AWS availability zones in the U.S. Eastern Region, located in Virginia.

“Coinbase experienced service disruptions due to increased temperatures in the affected AWS service,” the trading platform said in a status-page update. Trading was later restored after markets were briefly placed into a “cancel only” mode.

“This primary issue is now fully resolved – thank you for your patience,” said Coinbase on Friday in an X post, adding its team would investigate the incident. “Details may change as our investigation progresses and more information is received from AWS’s official retrospective, once published.”

In a separate statement on X, Coinbase said systems initially flagged “high error rates across multiple services,” and engineers traced the issue to failures in AWS infrastructure.

“Coinbase systems are designed to be resilient to a single zone outage,” the company said. “In this case, we observed failures impacting multiple AWS zones, which caused an extended outage of core trading services.”

However, the disruption drew criticism from software engineer Gergely Orosz, formerly at Uber and Skype, who has over 310,000 followers on X.

“Unfortunate optics for Coinbase to have an hours-long outage when customers could not trade, a few days after their CEO said how non-technical teams are shipping code to production,” Orosz wrote on Friday.

Coinbase has faced scrutiny in the past due to outages during periods of high market volatility and infrastructure stress. In 2020, Coinbase experienced a brief outage as the price of bitcoin crashed 10% from $9,500 to $8,100 in 30 minutes. Other U.S. exchanges, including Kraken, had reported all systems as operational during the same period. A week prior to that, Coinbase experienced a similar outage when bitcoin rallied 15% to $8,900.

For Coinbase, which, as of now, appears to be the only crypto exchange affected by the May 7, 2026, outage, the disruption comes at a time when the company is facing financial and operational challenges.

On Thursday, Coinbase shares fell more than 5% in after-hours trading after it reported weaker-than-expected Q1 2026 results as decreasing crypto prices affected trading activity, one of the firm’s main revenue streams. The company posted a loss of $1.49 per share, compared with analyst expectations for a $0.27 profit. Revenue came in at $1.41 billion, below estimates of $1.52 billion.

It also follows its May 5 decision to slash its workforce by 14% or roughly 660 employees in response to negative market conditions and AI challenges. CEO Brian Armstrong announced the cuts in an X post on Tuesday, citing the “two forces” that converged in his firm’s decision to slash staff.

Bitcoin is hovering at a crucial crossroads after a rapid ascent that brought the price into the low $80,000s. A spike in the daily RSI to overbought levels suggests momentum may be cooling in the short term, even as some market participants remain optimistic about a further upside run.

The rally, which climbed from a macro low near $60,000 to about $82,800 this week, has pushed key momentum indicators into territory that historically precedes pullbacks. Traders are parsing whether the current strength can be sustained or if a near-term correction is due as price tests nearby resistance around the 200-day moving average.

Key takeaways

• Bitcoin’s daily RSI advancing to the 70s amid an ~36% rebound from the macro low signals an overbought condition that has historically preceded meaningful corrections.
• A break below the $78,000 support could open downside toward the mid $70,000s, while a hold above this level keeps the potential for another push higher intact.
• Market dynamics point to an overheated MVRV and short-term holder Bollinger Band signal, with similar configurations last seen in November 2024 before a notable drop.

RSI heat and the near-term risk

On the daily chart, Bitcoin’s RSI rose to 70 as BTC tagged roughly $82,800, up from a March low near $39. The move brought BTC to the vicinity of the 200-day exponential moving average, a level analysts watch closely for how it may act as resistance.

As trader Jelle observed on X, the moment BTC touches the 200-day EMA in conjunction with overbought RSI “makes sense to find resistance here.”

“It makes sense to find resistance here.”

Commentary from observers underscores the potential for a short-term pullback if buyers don’t sustain momentum. Crypto Tice called the current signal “rare,” noting it has appeared only a handful of times over the past year and has historically led to pullbacks in the near term. He added:

“Overbought conditions on the daily don’t resolve sideways. They resolve with a flush.”

The discussion isn’t just about a single indicator. The market’s readers also weigh the Bitcoin price against longer-term context, including the current risk environment and macro drivers. Rekt Fencer highlighted the pattern’s history by pointing to prior occurrences where the same setup foreshadowed sharp declines, noting that “the last 2 times this happened, it dumped” by substantial margins.

Beyond RSI, the market is watching the balance between risk and reward in real-time indicators. The short-term holder (STH) MVRV metric recently entered an “overheated” zone, a signal that traders and analysts are using to gauge whether BTC is overvalued relative to on-chain profitability. FrankAFetter summarized the sentiment by noting that BTC last broke above the overheated threshold on STH Bollinger Bands in November 2024, a moment that preceded a retracement.

“Bitcoin breaks above the overheated level on the short-term holder Bollinger Bands for the first time since November 2024.”

Support, resistance, and what could unfold

For now, the chart is defining an important battleground around $78,000. Traders broadly agree that this level has become a meaningful anchor for BTC/USD. At the same time, the 200-day EMA sits higher up near $83,000, acting as a ceiling that could cap further upside in the near term.

Analyst Jelle weighed in again, noting that the $78,000 area represents the “first main area of interest” and urging that turning this into support could pave the way for another attempt at higher levels.

“Turn that into support and we can have another go at the MAs.”

Meanwhile, others see the potential for a decisive test around the same area. Tradermayne argued that holding the $78,000–$80,000 zone on lower timeframes would give bulls a clear bias for higher prices, whereas a break could tilt the risk balance toward downside bearest moves.

“Holding the support at $78,000–$80,000 on low time frames would give bulls a very easy bias level.”

Market liquidity, often a hidden driver of crypto price action, is also a focal point. Master of Crypto highlighted liquidity clusters around the current range. If buyers defend the $78k zone, the next leg could target the $82k–$83k area where substantial resting liquidity sits. But a breakdown could accelerate a move toward the mid-$70k zone.

“If buyers defend this area, the next move could be toward $82K–$83K where a lot of liquidity is sitting. But if this support breaks, Bitcoin could quickly drop to $75K–$76K.”

Market depth maps reinforce the risk-reward calculus. A Bitcoin liquidity heatmap shows that a drop below $78,000 could unleash more than $3.1 billion worth of leveraged long liquidations across major exchanges, potentially amplifying a short-term downturn.

What this means for traders and investors

The current configuration — rising price with an overbought RSI, a technically important support around $78,000, and overheated on-chain metrics — paints a nuanced picture. The near-term path likely hinges on whether BTC can defend the key support and how it reacts around $83,000 resistance. If the market sustains above $78,000 and bulls regain momentum, a move toward the $82,000–$83,000 band becomes plausible. Conversely, a break below $78,000 could open the door to a sharper correction, potentially testing the mid-$70,000s and inviting larger-liquidation scenarios on leveraged positions.

Investors should also monitor on-chain indicators that have historically provided warning signals in similar setups. The combination of MVRV readings and the Bollinger Band context for short-term holders has shown a tendency to precede corrective moves, especially when paired with a sustained price push into the 200-day EMA’s vicinity.

As always, external catalysts—ranging from macro data releases to shifts in risk sentiment—can alter the trajectory quickly. The current setup, however, emphasizes cautious positioning near key levels rather than a confident, one-way bet.

Readers should watch how BTC behaves around the $78,000 support and whether the price can sustain above or break below that level, which will largely shape the next leg of its journey toward the $82,000–$83,000 zone or a potential retreat into the mid-$70,000s.

TLDR:

• XRP flashed a fresh TD Sequential buy signal after a recent correction from the $1.46 high.
• Traders are monitoring $1.45 resistance as the first key level for bullish continuation.
• XRP’s long-term chart structure mirrors previous breakout cycles after extended consolidation.
• Analysts remain focused on the $1.80 zone as the next major breakout target for XRP.

XRP price prediction remains a major focus among traders after technical indicators signaled a possible rebound. Market participants are now assessing whether recent consolidation marks a temporary cooldown before XRP attempts another move toward higher resistance zones.

XRP Signals Fresh Momentum Shift

XRP has returned to the spotlight after printing a TD Sequential buy signal on the 4-hour chart. The indicator recently gained attention after accurately identifying a local top near $1.46.

That earlier sell signal came just before XRP corrected by 5.5% in 48 hours. As a result, traders are now treating the latest bullish signal with greater importance.

The recent pullback appears to have functioned as a short-term reset rather than a full trend reversal. Price action has gradually shifted into a tighter consolidation range following aggressive upside expansion.

Bearish momentum also appears to be weakening. Recent candles have printed smaller bodies, suggesting selling pressure may be losing strength. This behavior often signals exhaustion among short-term market participants.

In technical analysis, TD Sequential is designed to detect trend exhaustion after extended directional movement. The fresh “9” buy setup now suggests XRP could be preparing for a rebound phase.

The first key resistance now sits at $1.45. This level remains important because it previously marked the recent local high before the correction started.

If XRP reclaims this area decisively, short-term sentiment could shift quickly. Buyers would likely regain confidence as bullish continuation becomes the dominant narrative again.

Long-Term Structure Supports Breakout Thesis

Beyond short-term momentum, XRP’s broader chart structure is drawing increased attention. Analysts continue identifying similarities between the current setup and prior expansion cycles.

Historically, XRP has followed a repeating structure involving impulse rallies, prolonged consolidation, false breakdowns, and aggressive breakout phases. This pattern has appeared multiple times across previous cycles.

Between 2014 and 2017, XRP spent years inside a tightening structure while volatility declined sharply. Market participation weakened as price action remained stagnant near the apex.

After a false breakdown below support, XRP entered its historic 2017 rally. The asset then delivered one of crypto’s strongest expansions during that cycle.

A similar formation appeared again after the 2018 peak. XRP entered another multi-year consolidation defined by lower highs and gradually rising support levels.

Price later reclaimed structure following another breakdown beneath support. This sequence renewed bullish interest among long-term chart watchers.

Current technical projections suggest XRP may now be entering another continuation phase. Analysts are monitoring the $1.80 region as the next major breakout zone above nearby resistance.

If XRP clears that level with rising volume, momentum traders may return aggressively. This could strengthen the broader XRP price prediction narrative in the coming sessions.

Payward, the parent company of crypto exchange Kraken, has applied for a national trust company charter with the U.S. Office of the Comptroller of the Currency (OCC), according to a Friday announcement shared with CoinDesk, as the company looks to expand its regulated digital-asset custody business.

If approved, the charter would establish Payward National Trust Company (PNTC), a federally regulated entity focused on fiduciary custody and related services for digital assets. Kraken said the trust would primarily serve institutions and customers seeking bank-level custody protections under OCC oversight.

The filing marks Payward’s latest effort to expand its U.S. regulatory footprint as crypto firms increasingly pursue traditional financial charters to attract institutional clients and navigate a shifting regulatory environment.

“A national trust company provides the certainty institutions require and establishes the infrastructure to build the next generation of custody,” Payward and Kraken Co-CEO Arjun Sethi said in the statement.

The move comes as crypto firms increasingly seek federal charters, licenses and banking approvals under the Trump administration’s more industry-friendly approach to digital-asset regulation.

Kraken’s broader expansion strategy has included a string of acquisitions aimed at building regulated trading and payments infrastructure ahead of a potential IPO.

In addition to its $1.5 billion acquisition of retail futures platform NinjaTrader in 2025, Payward agreed in April to acquire crypto derivatives exchange Bitnomial for up to $550 million, adding a full suite of Commodity Futures Trading Commission (CFTC) licenses covering brokerage, clearing and exchange operations.

This week, the company also struck a $600 million deal to buy Hong Kong-based payments firm Reap Technologies, expanding Kraken’s push into stablecoin-powered cross-border payments and card infrastructure in Asia

The proposed trust company would complement Kraken Financial, the Wyoming special purpose depository institution (SPDI) chartered in 2020. Kraken Financial became the first digital-asset bank to secure a Federal Reserve master account, giving it direct access to the U.S. payments system.

Payward framed the OCC application as part of a broader “multi-charter” strategy aimed at offering different types of regulated financial services under both state and federal oversight.

Under the proposal, PNTC would rely on Payward’s existing compliance, risk management and custody infrastructure while expanding access to clients that require a federally regulated qualified custodian.

Crypto firms have increasingly explored bank and trust charters as regulators clarify rules around custody and institutional participation in digital assets. National trust charters, overseen by the OCC, have previously been pursued by crypto-native firms seeking broader legitimacy and nationwide operations without relying solely on state-by-state licensing.

Sethi said the company’s Wyoming SPDI and prospective OCC trust charter would serve “complementary pillars” of Payward’s banking strategy as the U.S. regulatory framework for digital assets continues to evolve.

Read more: Kraken parent Payward closes $550 million Bitnomial deal, securing full CFTC derivatives stack

Crypto markets are grinding through a cautious stretch, with Avalanche near $9.27, up 0.54% in 24 hours, and buyers defending the $9.00 support zone. BNB holds around $627, backed by the BNB Foundation’s 35th quarterly burn, removing 1.56 million tokens worth $1.02 billion.

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AVAX Rebounds While Buyers Defend Crucial Market Support

The Avalanche crypto price is showing early signs of a controlled recovery after several weeks of weak momentum. According to Brave New Coin, Avalanche is currently trading near $9.27, reflecting a 0.54% gain in the last 24 hours and a market capitalization close to $4 billion.

The recent rebound from an intraday low near $9.05 suggests buyers are still active around the important $9.00–$9.10 support zone. Analysts believe the current trend could strengthen if bulls maintain pressure above nearby resistance levels. The phrase avalanche crypto price continues to attract attention as traders monitor short-term movements closely.

However, the Avalanche crypto price still needs a decisive break above $9.50 to confirm stronger upside momentum. Until then, the Avalanche crypto price may continue consolidating within its current trading range.

BNB Holds Support Amid Growing Bullish Market Expectations

BNB price prediction remains a major focus for traders as Binance Coin attempts to defend the important $620 support level following Bitcoin’s retreat from highs above $81,000. BNB recently traded near $627 after briefly touching $638 earlier in the week, while broader altcoin momentum stayed weak.

The token continues to find support from the BNB Foundation’s 35th quarterly burn, which removed over 1.56 million tokens worth around $1.02 billion, reducing overall supply and boosting scarcity. Analysts say BNB price prediction could improve if Bitcoin maintains strength above $80,000 and fresh capital flows return to the market.

However, reduced trading volume and cautious leverage activity still reflect uncertain sentiment. Long-term holders continue accumulating during consolidation as BNB price prediction remains tied to macroeconomic conditions and ecosystem growth prospects.

BlockDAG Casino Is Now Live and Ready for Action

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Conclusion

Avalanche holding near $9.27 with buyers active around the $9.00 support zone and BNB defending $627 after removing 1.56 million tokens worth $1.02 billion from supply through its 35th quarterly burn, both tell a story of quiet resilience. Neither is breaking out, but neither is collapsing either.

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Tether froze over $514 million USDT across 370 addresses in the past 30 days as its 2025 blacklist swelled to $1.26 billion, underscoring how centralized stablecoins now function as embedded enforcement rails for global regulators and law enforcement.

Tether has frozen over $514 million worth of USDT in the last 30 days, locking funds across 370 addresses on Ethereum and Tron, according to data cited by Cointelegraph.

BlockSec’s USDT Freeze Tracker shows that about $506 million of the frozen tokens sit on Tron and roughly $8.73 million on Ethereum, once again highlighting Tron’s central role in USDT flows.

Separately, BlockSec’s on-chain report, titled “$1.26 Billion Frozen: USDT Blacklisting on Ethereum and Tron in 2025,” found that Tether blacklisted 4,163 unique addresses last year, freezing a cumulative $1.26 billion in USDT and permanently destroying more than half of it via its destroyBlackFunds function.

How Tether’s blacklists work at scale

BlockSec’s researchers write that “USDT can be frozen. Yes, yours,” noting that in 2025 alone Tether froze $1.26 billion “across 4,163 addresses,” with only 3.6% of those wallets later being unfrozen.

Their analysis finds that $698 million of the frozen USDT was burned, reducing outstanding supply, while the rest remained locked indefinitely or was later moved under law‑enforcement direction.

A follow‑up blog, “Following the Frozen,” and a companion LinkedIn post identify three main triggers for blacklisting: direct requests from agencies such as the FBI, Europol and local police; automated blocking of wallets tied to U.S. sanctions lists; and proactive investigations by Tether’s T3 Financial Crime Unit, established with Tron and TRM Labs.

The report links multiple frozen addresses to large‑scale fraud schemes, pig‑butchering operations, darknet markets and wallets associated with terrorist finance, including entities designated by the U.S. Treasury.

Tether itself has publicly emphasized this enforcement role. In April, the company announced that it had “supported the freeze of more than $344 million in USDT” across two Tron wallets “in coordination with OFAC and U.S. law enforcement,” calling it “one of the largest such actions in the company’s history” in an official statement.

That followed a January move in which Tether froze roughly $182 million USDT on Tron in what Yahoo Finance described as a “massive coordinated action” against five wallets flagged by U.S. agencies, according to a report that drew on company statements and on-chain forensics.

Centralized stablecoins as enforcement rails for crypto

Looking beyond any single freeze, the numbers are now system‑level. From 2023 through 2025, Tether froze more than $3.29 billion worth of USDT across 7,268 addresses, with Reuters recently reporting that the firm has now frozen about $4.2 billion over its lifetime “linked to crime, sanctions and other illicit activity,” citing company disclosures in a story.

Crypto.news has tracked how this enforcement capability shapes the broader market. A recent story on Tether’s $344 million Tron freeze noted that USDT’s compliance layer has become “a de facto extension of Western financial sanctions,” while another story on stablecoin enforcement detailed how both Tether and Circle have accelerated blacklisting as regulators scrutinize how dollar tokens move through DeFi and centralized exchanges.

For traders and builders, the lesson is blunt. Centralized stablecoins like USDT are not neutral settlement assets; they carry embedded kill switches that can and do get flipped at scale, often in coordination with law‑enforcement and sanctions authorities.

That reality is already reshaping design choices across the market, from protocols experimenting with overcollateralized, on‑chain alternatives to exchanges bolstering wallet screening and travel‑rule compliance to avoid waking up one day and discovering that millions of dollars in user deposits have been blacklisted — and, in many cases, will never come back.