TLDR

• Bitcoin exchange netflow dropped to -$582 million within two days.
• Exchange reserves declined by 100,000 BTC since mid-February.
• Funding rates fell to -0.253%, showing increased short positions.
• Reduced exchange supply limits immediate selling pressure.
• Market conditions suggest a possible short squeeze scenario.

Bitcoin moved sharply higher this week while exchange balances dropped and funding rates turned negative. Data shows reduced selling supply and growing short positions. This setup increases the probability of a short squeeze in the near term.

Bitcoin price climbed from $66,900 on April 3 to around $73,000. The asset reclaimed $70,000 earlier this week and held gains. On-chain data shows fewer coins available on exchanges.

Bitcoin Outflows Accelerate as Exchange Supply Tightens

Bitcoin exchange netflow flipped from a +2,109 BTC inflow to a -2,533 BTC outflow on April 9. This reversal shows coins left exchanges soon after entering. Data indicates traders removed holdings rather than keeping them available for selling.

Outflows increased further to -5,441 BTC on April 10. Total withdrawals reached 7,974 BTC, valued at about $582 million. This movement marks one of the largest recent net outflows.

Ruga Research stated, “Coins arrive, get absorbed, and then leave again.” The firm added that the trend matters more than daily swings. Exchange supply continues to decline over time.

Exchange reserves dropped from 2.8 million BTC on February 15 to 2.701 million BTC. This change reflects a reduction of about 100,000 BTC. The removed supply equals roughly $7.3 billion at current prices.

Lower exchange balances reduce immediate selling pressure. Fewer coins remain accessible for quick trades. This condition can support price stability during market swings.

Funding Rate Turns Negative as Short Positions Build

Funding rates dropped to -0.253% on April 9. This level shows that short traders pay long traders to hold positions. It also reflects strong bearish positioning in derivatives markets.

Ruga Research said, “Funding rates show growing conviction among short traders.” This data suggests traders expect price declines. However, market positioning can shift quickly under pressure.

Negative funding combined with exchange outflows creates tension. One side of the market may face forced liquidation. This setup often precedes rapid upward price moves.

Short squeezes occur when rising prices force short sellers to close positions. This action drives prices higher in a short period. Current data shows conditions that may trigger such events.

Ruga Research clarified that this data does not confirm price direction. It only reflects trader positioning and supply trends. Market participants continue to monitor funding and exchange flows.

Bitcoin continues to trade near $73,000 as of April 10. Exchange reserves remain lower than February levels. Funding rates stay negative, indicating ongoing short pressure.

Key Insights

• PEPE price is locked inside a tight trading range, with sellers holding resistance levels and obstructing the path to higher prices.
• Important Fibonacci resistance levels and downtrends in the moving average lines reflect the current bearish structure in the markets.
• On-chain metrics such as open interest and netflow figures have been deteriorating lately.

Pepe Treading in Narrow Consolidation

Pepe (PEPE) is consolidating in a tight range, indicating indecisiveness in the market. Pepe has been trading within the $0.000036-$0.000040 range.

Neither side has made a significant move that would drive the price to decisively break out of the range. Neither buyers nor sellers have conviction, resulting in sideways price action.

Although the token is treading within the narrow range, it still represents an overall bearish formation. This is because the sideways price action has developed after a period of downtrend, indicating that it might just be a retracement. The hesitancy of market participants does not seem to allow for large movements in the price.

Bearish Price Structure Intact

The general trend still favors the bears, as the PEPE coin has been posting lower tops and lower bottoms on its daily chart. This price action reflects continued selling pressure, since each rally fails to exceed its former highs. Moreover, the price continues to trade beneath important exponential moving averages, which keep declining in value.

Rejections from these important support levels also indicate continued pressure from the sellers. Each move upwards is faced with significant selling interest, implying that traders view rallies as a chance for liquidation rather than for accumulation. Unless the price of PEPE rises above these levels, any sustained rebound may not occur.

Resistance Levels From Fibonacci Prohibit Further Upside Progress

Resistance levels persistently prevent any potential progress in terms of an upside move. In particular, the first resistance level located within the range from $0.000040 to $0.000041 corresponds to the 0.236 Fibonacci retracement.

As can be seen, multiple attempts to surpass this resistance level did not succeed, implying a high amount of selling pressure at this point.

Besides, further resistance levels located at $0.000047 and $0.000051 provide extra resistance barriers. Overcoming them requires an additional amount of buying force to push PEPE higher. Unless PEPE successfully passes these resistance levels, all upward movements should be regarded as temporary.

As far as downside potential is concerned, the price level of $0.000036 provides short-term support. Nonetheless, the level itself is getting weaker due to constant pressure. Consequently, a breakdown below $0.000036 would set a downside target at $0.000031.

Weakening Demand Reflected in On-Chain Data

The on-chain metrics still point toward caution regarding PEPE’s future performance. Open interest has fallen from its peaks recorded in early 2025, implying lower trading activity among market participants and lesser speculation. This trend shows that there are fewer traders interested in opening long leveraged positions, which may indicate their lack of confidence.

Furthermore, the spot netflows have behaved erratically; there were flows of funds even when the price was decreasing, which implies that the purchases were sporadic and uncoordinated. Recently, there has been a little decline in netflow and price levels, supporting the assumption of lower demand.

Overall, the on-chain analysis does not provide many positive signals, with no signs of increased demand. Therefore, the chances of a successful breakout are rather low at the moment.

Breakout or Breakdown: Volatility Ahead

With PEPE trading in a range at the moment, this means a breakout or breakdown is likely near. Typically, consolidation periods like these tend to lead to an increase in volatility, which makes this upcoming breakout or breakdown even more crucial.

If PEPE is able to break out above $0.00004150, it could mean short-term momentum could change and see higher targets being reached such as $0.000047 or even $0.000056. Breaking above the $0.00004150 price point will need volume to confirm it.

However, if PEPE fails to hold the support at $0.000036, then it could mean more selling pressure is imminent and the price could move lower towards $0.000031 or lower.

Hyperliquid’s HYPE token is trading around $40.3 on April 10, 2026, up roughly 3.9% in 24 hours and about 10% week‑on‑week after rebounding from early April lows near $35.6.

Hyperliquid’s (HYPE) 4-hour chart shows price grinding higher inside a constructive channel, with HYPE still roughly 32% below its all‑time high around $59.3 but supported by rising volume and a bullish, not yet overbought, momentum profile. On the fundamental side, Hyperliquid controls an estimated 66–73% of decentralized perps volume with about $50 billion in weekly trading and 100,000+ weekly active users, suggesting structural demand for HYPE as long as platform open interest near $6–$10 billion remains elevated.

Hyperliquid’s HYPE token is trading at about $40.3 on April 10, 2026, according to data from CryptoRank and other price trackers, up roughly 3.9% over the past 24 hours and extending a climb from early April lows near $35.6. The move leaves HYPE about 32% below its all‑time high of roughly $59.3 set in September 2025, but with a current market capitalization in the $9.6–$13.0 billion range and 24‑hour spot volume between $225 million and $285 million, signaling persistent two‑way flow rather than a thin meme spike.

On TradingView, the HYPEUSDT chart shows price holding a broad uptrend from the 2025 lows, with recent weekly candles printing higher lows above the $35–$36 zone and intraday action clustering in the $38–$41 band. Short‑term analyses on the platform highlight the $39–$40 area as a key demand zone, with some traders targeting initial upside toward $42–$44 if support holds. Momentum remains trend‑positive but not yet in the classic parabolic danger zone: technical dashboards flag RSI as bullish but shy of the 70+ overbought threshold on higher timeframes, while MACD and other trend indicators remain in buy territory.

Fundamentally, HYPE tracks a real business rather than pure narrative. CoinStats’ April investment analysis notes that Hyperliquid has become a dominant decentralized perpetuals venue, with an estimated 66–73% share of on‑chain perps trading, roughly $50 billion in weekly volume and more than 100,000 weekly active users. That positioning is reflected in derivatives data, where aggregated futures dashboards show Hyperliquid open interest frequently in the $6–$10 billion range, with peaks near $9.7 billion during prior volatility spikes — a scale that tends to correlate with demand for the protocol token.

At the token level, however, the growth story comes with a clear caveat. As of April 1, only about 24.8% of HYPE’s maximum 1 billion supply is circulating, with a circulating market cap near $8.7–$9.6 billion versus a fully diluted valuation around $35–$39 billion, implying roughly 4x potential dilution as remaining tokens unlock. That gap matters for medium‑term price predictions: as long as Hyperliquid’s share of perps volume and on‑platform open interest keeps growing, structural demand may offset some unlock pressure, but slower activity or venue competition could see new supply weigh more heavily on price.

Near term, the technical and fundamental mix leans slightly bullish. The token is riding a constructive trend above key support in the high‑$30s, momentum is positive rather than euphoric, and platform usage metrics remain strong. A clean break below the $35–$36 area on rising volume would undermine that thesis and open room for a deeper mean‑reversion toward prior consolidation levels, while sustained closes above the low‑$40s, backed by continued growth in open interest and weekly volume, would keep $50+ back on the table as a medium‑term target.

Users on Scroll, an Ethereum Layer 2 (L2) network, paid more than $50,000 in excess transaction fees over roughly four days after the team behind the project repeatedly raised the parameters that determine how much users pay for posting data to Ethereum, according to an analysis published by L2BEAT.

The overcharges stemmed from six manual increases to two fee multipliers on Scroll’s gas price oracle, the smart contract that calculates the Layer 1 data portion of every transaction’s cost. Each update raised the previous value by 2x to 10x, compounding to 1,280x the original baseline by April 5, L2BEAT said. On April 9, the team slashed both multipliers by 160x.

The baseline cost for all roughly 139,000 affected transactions would have been just $280. Instead, users collectively paid upward of $50,000, with automated bots accounting for the vast majority.

Scroll has not publicly addressed the findings at the time of writing.

Etherfi Cash bots, which are still running during the protocol’s ongoing migration to Optimism, accounted for roughly $35,000, or 66% of the excess, per L2BEAT. Scroll’s own oracle relayer paid approximately $5,200, with LayerZero, Succinct, and other bots making up the rest.

The issue was first flagged by a pseudonymous developer running a Succinct relayer, who posted on X that their transaction costs had jumped from $0.002 to over $20.

“Scroll was subsidizing L1 DA costs and is now correcting to sustainable pricing?” the developer asked. “And there’s no users on Scroll except us, so we’re paying full price for it?”

Crypto research firm Kairos Research noted that the fee spike appeared to coincide with etherfi’s migration to Optimism. When etherfi was Scroll’s dominant app, total daily transaction fees from its products averaged about $250. After the multiplier increases began on March 31, that figure jumped to roughly $16,000 per day.

L2BEAT clarified that the overcharges were not a sequencer issue, as the L1 gas prices reported by the oracle were accurate. The entire overcharge came from the multiplier increases, which went through a separate governance path involving the team’s multisig wallet.

The episode raises the question of whether Scroll had been running fees below cost to retain users, a common practice among L2s competing for activity, and abruptly repriced once its largest fee contributor departed.

Scroll’s total value locked (TVL) sits at just $24 million, according to DeFiLlama, down 96% from its peak of $585 millon in October 2024.

This article was written with the assistance of AI workflows. All our stories are curated, edited and fact-checked by a human.

Overview

Hong Kong approved its first stablecoin licences, marking a key step in regulated digital finance development. Authorities selected bank-backed issuers to lead the rollout under strict oversight. The move strengthens the city’s position in global digital asset markets.

HSBC Leads Retail-Focused Stablecoin Rollout

HSBC plans to launch a Hong Kong dollar-pegged stablecoin in the second half of 2026. The token will support payments, transfers, and digital asset services through its mobile platforms. The bank aims to integrate stablecoins into existing retail and merchant ecosystems.

HSBC will enable peer-to-peer transfers and merchant payments using its PayMe and banking applications. The system will also support subscriptions to tokenized investment products within its digital infrastructure. This approach connects traditional banking services with blockchain-based financial tools.

HSBC is exploring stablecoins in other currencies to support cross-border transactions. However, the bank requires alignment with central banks before expanding beyond Hong Kong dollar issuance. This strategy reflects a measured approach to global digital currency integration.

Anchorpoint Targets Institutional and Phased Expansion

Standard Chartered supports Anchorpoint Financial, a joint venture focused on digital asset infrastructure. The entity includes Animoca Brands and Hong Kong Telecommunications as key partners.

Anchorpoint plans to launch its stablecoin earlier, targeting institutional clients in the initial phase. The firm will later expand access to retail users through selected distributors and partners. This phased rollout allows controlled adoption while building operational experience in regulated markets. The structure also aligns with Hong Kong’s broader financial stability goals.

Anchorpoint focuses on enabling real-world applications such as payments, custody, and trading services. The initiative supports infrastructure development for compliant digital finance operations. It also strengthens collaboration between traditional finance and blockchain firms.

Regulatory Framework Shapes Controlled Market Entry

Hong Kong Monetary Authority introduced the stablecoin regime in August 2025. The framework requires full reserve backing, clear redemption rights, and strict governance standards. Authorities also enforce anti-money laundering measures across all licensed issuers.

The regulator reviewed 36 applications before selecting the first two licence holders. Officials prioritized strong risk management, compliance capacity, and viable business models. This selective approach ensures stability while allowing innovation within defined limits.

Officials confirmed that only a small number of additional licences may follow. The authority maintains flexibility but intends to limit market entry in early stages. This policy balances innovation with financial system integrity.

Hong Kong aims to position itself as a global hub for regulated digital assets. Stablecoins play a central role in improving payment efficiency and supporting tokenized finance. The first approvals mark the beginning of a structured expansion in the sector.

XRP price holders who watched the token run from $0.30 to $3.65 without getting in now face a market offering a similar setup. Ripple launched its first native Digital Asset Treasury Management System on April 8, letting businesses manage XRP and fiat in one regulated platform, per CoinMarketCap. XRP ETFs pulled in $3.3 million the same day while Bitcoin and Ether ETFs bled over $220 million combined, according to 24/7 Wall St.

Pepeto is nearing its Binance listing with presale rounds selling out faster than ever, and $8.86 million committed during a Fear Index of 14 shows informed capital is locking positions before listing day.

Ripple’s Treasury System Goes Live as XRP ETFs Buck the Outflow Trend

Ripple’s Treasury Management System went live on April 8, giving companies a single platform to hold XRP and fiat without separate custody, per CoinMarketCap. The tool puts XRP directly into corporate finance workflows for the first time.

XRP ETFs took in $3.3 million on a day when every other major crypto ETF posted losses, according to 24/7 Wall St. The CLARITY Act markup is expected late April, and if it passes, XRP gets a permanent commodity tag that could open billions in fresh ETF demand.

The XRP Price Prediction Entry Worth Watching Right Now

Pepeto: The Trading Platform the Market Needs While XRP Grinds Sideways

The Binance listing keeps getting closer and presale stages fill faster each round. Pepeto is a contract scanning and zero-fee trading platform that grows more useful when the market turns risky and the XRP price stays range-bound.

While XRP holders wait for the CLARITY Act, Pepeto scans tokens across Ethereum, BNB Chain, and Solana, spotting risky contracts before they touch a wallet. PepetoSwap handles swaps at zero cost so entry size equals position size, and capital works right away instead of sitting inside a $83 billion market cap waiting for billions more.

The presale pulled $8.86 million at $0.0000001863 while the Fear Index reads 14. The FDV at $78 million is small enough that analysts call for 100x because the token powers every trade. SolidProof cleared the codebase, a senior developer from Binance shaped the exchange, and the founder who took Pepe to $11 billion built every tool from scratch. Staking at 186% APY keeps building holdings while listing draws closer.

Crypto history has one constant: early entries made during peak fear with real products running became the breakout stories of each cycle. Pepeto at $0.0000001863 with $8.86 million during a Fear Index of 14 fits that pattern. Once the Binance listing opens, presale pricing ends.

XRP Price Prediction: Can XRP Hold $1.35 and Rally Back to $2?

XRP trades at $1.35 on April 10, down 62% from its $3.65 July 2025 peak, per CoinMarketCap. The XRP price prediction depends on holding $1.35 and clearing $1.42 to open $1.50 then $2.00. Analysts say XRP needs the ceasefire to hold, the CLARITY Act to advance, and the Fed to signal cuts before $2 is in play.

Support sits at $1.28 with resistance at $1.42 then $1.50. The XRP price math from a $83 billion cap means strong targets take months, not the fast timeline a presale-to-listing event offers.

Conclusion

The XRP price prediction confirms XRP needs quarters of macro help before it reaches numbers that matter. The wallets that bought XRP at $0.003 gained 1,000x over years. Those who got into SHIB with no product gained 1,000x in months.

Pepeto combines a live exchange, the same founder who took Pepe to $11 billion, and a confirmed Binance listing. The Pepeto official website still accepts presale entries, and the wallets that caught XRP at $0.003 did not wait for proof, they studied the setup and acted while the crowd held back.

Click To Visit Pepeto Website To Enter The Presale

FAQs

Can XRP price reach $2 in April 2026 based on current market conditions and the CLARITY Act?

XRP needs the Trump-Iran ceasefire to hold, the CLARITY Act to clear the Senate Banking Committee in late April, and the Fed to signal cuts at the April 28 FOMC before $2 comes into play. Without all three, analysts at 24/7 Wall St project XRP stays between $1.28 and $1.60. XRP ETFs took in $3.3 million on April 8 while Bitcoin and Ether ETFs posted losses, showing selective demand even during broad market fear.

What is the best crypto to buy now in 2026 for high returns before the next bull run based on real utility?

Pepeto is the best crypto to buy now because it has a SolidProof-audited contract, a live zero-fee exchange with a token scanner, and a cross-chain bridge across Ethereum, BNB Chain, and Solana. The team includes the original Pepe coin architect and a senior Binance developer. With $8.86 million raised at $0.0000001863, 186% APY staking, and a confirmed Binance listing, the entry combines working tools with presale pricing.

Disclaimer: This is a Press Release provided by a third party who is responsible for the content. Please conduct your own research before taking any action based on the content.

Bitcoin is emerging as a potential component in the fragile ceasefire that is taking shape between the United States and Iran after a 39-day conflict disrupted the region and forced the closure of the Strait of Hormuz.

Tehran is unlikely to relinquish its grip on the narrow trade artery that handles roughly 20% of global crude oil flows. Instead, it plans to manage transit alongside Oman, collecting tolls from vessels seeking safe passage.

And that’s where Bitcoin (BTC) comes into play. Those payments may not be limited to traditional currencies. Hamid Hosseini, a spokesperson for Iran’s Oil, Gas and Petrochemical Products Exporters’ Union, told the Financial Times that certain ships could be required to pay in BTC for safe passage of their oil cargo.

“Once the email arrives and Iran completes its assessment, vessels are given a few seconds to pay in Bitcoin, ensuring they can’t be traced or confiscated due to sanctions,” said Hosseini.

If implemented, the move would mark a notable shift for Iran, which has previously said it would only accept the Chinese yuan as toll payment for the strait.

This week’s Crypto Biz looks at Iran’s reported crypto gambit, Jamie Dimon’s latest comments on blockchain and competition and the White House’s stance on stablecoin yields.

Iran seeks crypto tolls from ships crossing Strait of Hormuz

Ships moving through the Strait of Hormuz are increasingly being asked to pay transit fees in cryptocurrency, as Iran tightens control over one of the world’s most important shipping lanes, according to the Financial Times.

Reports indicate that vessels, particularly oil tankers, are being charged fees that can reach into the millions per trip, with payments made in crypto or alternative currencies. The system is being enforced by Iran’s Revolutionary Guard Corps, which has restricted access to the waterway and allowed only approved ships to pass.

The development comes amid ongoing conflict and a fragile ceasefire, with Iran using its position over the strait as leverage. With roughly a fifth of global oil flows moving through the route, the use of crypto payments underscores both the geopolitical stakes and how digital assets are being used to bypass traditional financial channels.

Jamie Dimon warns blockchain and AI are coming for banking

JPMorgan CEO Jamie Dimon warned that a new wave of technology-driven competitors is putting pressure on traditional banking, highlighting both artificial intelligence and emerging financial infrastructure.

In his annual shareholder letter, Dimon pointed to fintech companies and nonbank players adopting blockchain and other technologies to build faster, lower-cost systems. He also hinted that stablecoins should be viewed as part of the broader shift underway in financial services.

America’s biggest bank, as measured by assets, is already investing heavily in its own blockchain infrastructure, including its Kinexys platform, as it looks to compete in areas such as payments and tokenization where new entrants are gaining ground on traditional players.

Bernstein says Figure stock could double on tokenization growth

Analysts at Bernstein say Figure Technologies’ rapid loan growth highlights the potential of blockchain-based lending, suggesting the company’s stock is significantly undervalued at current levels.

In a recent note, Bernstein said Figure surpassed $1 billion in monthly originations, signaling growing traction. It assigned the stock an “Outperform” rating and a $67 price target, roughly double current levels.

Figure’s lending platform runs on the Provenance blockchain, which is designed to reduce costs and speed up loan processing. Bernstein analysts said this structure could improve margins compared to traditional lenders, particularly as volumes increase.

Stablecoin yield ban would lift bank lending just 0.02%, White House says

Economists at the White House said restricting yield-bearing stablecoins would have a negligible impact on bank lending, challenging claims that such products pose a meaningful threat to deposits.

According to analysis by the Council of Economic Advisers, a ban on stablecoin yields is estimated to increase bank lending by just 0.02%, suggesting only limited spillover into the traditional financial system. The analysis comes as yield-bearing stablecoins remain a key sticking point in market structure legislation talks.

The report also pointed to potential downsides. Limiting yields could reduce consumer benefits by cutting off access to higher returns, highlighting a trade-off for policymakers weighing tighter regulation of the sector. 

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