Crypto World
Lawmakers Scrutinize Labor Dept Plan to Include Crypto in 401(k)s
A coalition of senior Democrats on three key U.S. committees has pressed the Labor Department to pause its plans to allow digital assets and other “alternative assets” to be held within Americans’ retirement accounts. In a letter circulated to Acting Labor Secretary Keith Sonderling, Sen. Bernie Sanders, Sen. Elizabeth Warren, and Rep. Bobby Scott urged the department to rescind the March proposal that would permit private equity, digital assets, private credit, and other non-traditional holdings in 401(k) plans.
The lawmakers argued that extending retirement plan exposure to volatile assets such as cryptocurrencies would heighten risk for workers’ savings, citing a lack of robust regulation and safeguards in the crypto sector. They asserted that protections typically afforded to public securities may not be available for crypto assets, potentially leaving investors less shielded from fraud and mismanagement. The letter also framed the move in the broader context of evolving securities-law applications to crypto and the adequacy of current guardrails in protecting retirement plan participants.
The policy proposal was announced by the Labor Department in March and sits within a broader policy push that some lawmakers view as shifting toward broader access to alternative investments. The debate unfolds against a backdrop of high U.S. retirement assets; the Investment Company Institute has reported that Americans held about $10.1 trillion in 401(k) plans as of December 31.
Key takeaways
- The Labor Department’s March proposal would expand 401(k) eligibility to include private equity, digital assets, private credit, and other alternative assets, prompting scrutiny from lawmakers.
- Top Democrats warn that this shift would expose retirement accounts to volatile assets and may rely on insufficient regulatory safeguards, raising investor-protection concerns.
- The letter emphasizes that securities laws’ application to crypto assets is still evolving, and protections available for traditional public securities may not be fully available for digital assets.
- Lawmakers tie the policy to broader ethics and enforcement debates, pointing to perceived conflicts of interest and ongoing discussions around crypto-focused legislation such as the CLARITY Act.
- The policy context includes a recent executive-order-driven push to democratize access to alternative assets, highlighting a potential cross-cut of regulatory approaches and oversight.
Policy proposal and context
The Labor Department’s March proposal envisions allowing a wider range of asset classes in retirement plans, extending beyond traditional equities and fixed income to include alternatives such as private equity and digital assets. Proponents argue that expanding access could broaden diversification and retirement outcomes for workers. Opponents, however, contend that retirement plan fiduciaries would face heightened fiduciary duties and potential conflicts of interest when selecting highly complex, less transparent assets. The policy aligns with a broader government agenda that, in 2025, included an executive order directing agencies to “democratize access to alternative assets,” explicitly mentioning crypto among the instruments to be considered in this framework. As of the end of the last reported period, the 401(k) asset base remains substantial, underscoring the potential scale of any regulatory shift.
Regulatory risk and investor protections
Central to the debate is how crypto assets would be treated under securities laws as they sit within retirement accounts. The lawmakers’ letter contends that the current enforcement posture across major financial regulators, including the Securities and Exchange Commission, has weakened protections for crypto investors. They warn that the application of securities laws to crypto assets is still “rapidly evolving,” and that key investor safeguards associated with traditional public securities may not be available for digital assets. This evolving regulatory landscape raises questions about disclosure, custodial standards, liquidity, valuation, and risk management for plan sponsors and fiduciaries responsible for selecting and monitoring investments in a multi-asset retirement lineup.
Implications for plans, sponsors, and market structure
Allowing digital assets and other alternatives in 401(k) plans would impose new governance and compliance demands on plan sponsors, investment committees, and third-party administrators. Fiduciaries would need to evaluate custody arrangements, due diligence processes, valuation methodologies, operational risk, and ongoing monitoring for assets with limited price discovery and potentially higher fraud risk. Given that a substantial portion of U.S. retirement savings is channeled through 401(k) plans, even incremental changes in eligibility can have outsized implications for risk management practices, disclosure requirements, and regulatory oversight. The conversation also intersects with the broader market structure debate surrounding crypto assets, including how such holdings would interact with banking relationships, KYC/AML requirements, and the appropriate licensing regimes for managers and platforms involved in these assets.
Ethics, conflicts, and broader policy debates
Lawmakers highlighted potential conflicts of interest linked to the current administration’s approach to alternative assets, citing ties to private ventures in the crypto space and a more permissive stance toward crypto within federal policy. The discussion touches on ethics considerations that have shaped legislation such as the CLARITY Act, with Democrats signaling they would not support bills lacking strong ethics provisions. These concerns illustrate how regulatory proposals in the retirement space can become touchpoints for broader debates about regulatory capture, corporate influence, and the balance between investor access and safeguarding public retirement savings.
Looking ahead, policymakers will likely scrutinize how the Labor Department interprets fiduciary duties in the context of alternative assets and how SEC- and CFTC-style oversight would apply to crypto within retirement plans. The intersection of retirement policy, crypto regulation, and ethics rules presents a complex compliance landscape for plan sponsors, asset managers, and financial institutions. Analysts will be watching for any changes to the proposed rule, forthcoming guidance on custody and valuation, and the potential alignment or friction with ongoing federal and cross-border regulatory developments.
Closing perspectives suggest that the evolution of this policy will hinge on clarifying investor protections, establishing robust governance frameworks for plan fiduciaries, and balancing access to innovative asset classes with the safeguarding of long-term retirement security. As the regulatory environment continues to develop, institutions should monitor both domestic enforcement posture and cross-jurisdictional considerations that could influence how such assets are treated in retirement accounts.
Crypto World
Micron Stock Goes On-Chain 48 Hours Before Earnings as Backpack Securities Lists $MU on Solana
Sunrise and Backpack Securities brought tokenized Micron Technology stock to Solana on Monday, listing $MU on-chain exactly 48 hours before Micron reports its fiscal third-quarter earnings after the closing bell on June 24. Each token is backed 1:1 by a real Micron share held in custody by Backpack… Read the full story at The Defiant
The Alliance to End Human Trafficking, a faith-based nationwide network, delivered a letter signed by 82 Catholic leaders to Senate Majority Leader John Thune and Minority Leader Chuck Schumer on Tuesday, urging both parties to oppose Section 604 of the CLARITY Act, the provision that would exempt non-custodial DeFi developers from criminal prosecution and AML compliance obligations.
The bill cleared the Senate Banking Committee 15–9 on May 14, 2026, but still needs a full Senate floor vote, and Polymarket currently prices Trump signing it into law this year at roughly 42%. A coalition letter targeting the bill’s most industry-critical provision, arriving from an unexpected moral quarter, does not improve those odds.
Section 604 codifies the Blockchain Regulatory Certainty Act (BRCA), language that has circulated in various legislative forms since at least 2018.
Its operative effect: persons who cannot unilaterally execute or prevent a transaction on behalf of another user, developers publishing open-source code, node operators, and unhosted wallet providers are not classified as money transmitters under the Bank Secrecy Act. That carve-out removes them from Bank Secrecy Act registration and reporting requirements.
For DeFi protocol operators and open-source developers, BRCA is the bill’s existential provision; industry groups have stated flatly they will not support the CLARITY Act without it. The Trump DOJ’s imprisonment of multiple crypto software developers over the past year for building privacy-enabling tools is precisely the prosecutorial risk BRCA is designed to eliminate.
The AML Loophole Argument: What AEHT Is Actually Charging
The Alliance to End Human Trafficking’s letter does not object to crypto regulation broadly; it objects to a specific legal mechanism. The coalition argued that BRCA “may make it more difficult to responsibly monitor illicit financial activity tied to trafficking, organized crime, child exploitation, sanctions evasion, and other forms of abuse.”
The structural claim is precise: by removing non-custodial developers from the money-transmitter classification, Section 604 strips away the transaction-monitoring and suspicious-activity-reporting obligations that AML frameworks depend on, leaving a compliance gap that transnational criminal organizations can exploit.
This is not a novel critique. The Bank Policy Institute issued a brief in June 2026 calling the Senate CLARITY bill “illicit finance-friendly” rather than innovation-friendly, warning that DeFi platforms and unhosted wallets would fall outside standard AML and sanctions rules entirely.
Transparency International U.S. made a parallel argument after the Senate Banking Committee markup, flagging the absence of clear obligations for non-custodial services as a structural weakness that would “hamper law enforcement’s ability to trace and interdict illicit finance.” What AEHT adds is not a new legal theory – it is a new political constituency delivering that theory.
The Catholic leaders framed their opposition in the language of Catholic social teaching: “The test of any financial system is not simply whether it generates wealth or innovation, but whether it safeguards human life and dignity,” the letter stated. That framing matters because it is not primarily a technical objection to market structure design – it is a moral claim about legislative complicity, and moral claims have different political mechanics than regulatory-policy objections from the banking lobby or the CFTC.
Senate Math: Why Faith-Based Opposition Is Harder to Neutralize Than Partisan Opposition
The CLARITY Act’s floor-vote problem is arithmetical. Reaching the 60-vote cloture threshold requires picking up five to seven Democratic senators beyond the two who crossed over at the May 14 committee vote.
Those crossover votes are most plausible from Democrats in competitive states or those who have staked a position on crypto-friendly economic development, senators who need a defensible justification for breaking with a caucus that includes Sens. Elizabeth Warren and Jack Reed, both of whom filed amendments during the markup aimed at extending AML obligations to DeFi platforms and smart contracts.
The AEHT letter complicates that justification directly. A Democratic senator considering a yes vote can deflect industry-lobby opposition as special-interest pressure.
Deflecting a faith-based anti-trafficking coalition that invokes Catholic social teaching on solidarity and human dignity – in writing, to Senate leadership – is a materially different political task. It hands opponents a ready-made floor-speech frame: a vote for BRCA is a vote against the tools that catch traffickers. That framing does not have to be legally accurate to be politically effective.
The CLARITY Act is already absorbing opposition from Wall Street over stablecoin yield language, from Native American tribes over prediction market sports-wagering provisions, and from a Democratic faction insisting the bill restrict President Donald Trump’s personal crypto ventures.
Each opposition bloc targets a different provision, which means resolving one does not resolve another. The AEHT letter specifically targets BRCA, which industry groups have designated a red line – meaning any Senate concession on Section 604 to address the trafficking-finance argument would likely require a House-Senate conference, consuming time the bill does not have.
Don’t Miss Out on Our $1,000 USDT Airdrop on ByBit
The post Here’s How the Catholic Church Could Kill CLARITY Act Over Human Trafficking appeared first on Cryptonews.
South Korea’s financial regulator folded token securities infrastructure into a broader overhaul of the country’s capital markets, alongside plans for faster settlement, longer trading hours and greater use of artificial intelligence.
On Tuesday, the Financial Services Commission (FSC) said it had launched a capital market infrastructure review meeting to coordinate reforms across government agencies and market operators. According to the FSC, plans for token securities will be further discussed separately through a public-private council before being linked to the wider initiative.
The initiative includes a roadmap for shortening the securities settlement cycle, expected by October, and a Korea Securities Depository (KSD) system for settling over-the-counter trades in unlisted shares and fractional investment products by the end of 2026.
The move places tokenized securities within the country’s broader effort to modernize traditional financial markets, potentially bringing blockchain-based investment products closer to systems used for mainstream securities settlement and trading.
FSC Vice Chairman Kwon Dae-young said the initiative would build on broader efforts to improve the capital market, guided by four policy priorities: trust, shareholder protection, innovation and market access.
South Korea prepares token securities framework for 2027
South Korea’s token securities initiative predates the latest capital-market review. In January, the National Assembly approved amendments recognizing blockchain-based distributed ledgers as valid securities registries and permitting the issuance and circulation of token securities.
According to the FSC, the framework is scheduled to take effect in February 2027, after regulators complete subordinate rules and supporting infrastructure. At the second meeting of its public-private token securities council in May, the FSC said it was targeting July for the release of proposed subordinate regulations and guidelines.
Related: South Korea reviews Hana Bank’s Dunamu stake under banking rules: Report
Technical infrastructure is also under development. Samsung SDS said in May that it had won a KSD contract to build a token securities management platform that connects the depository’s existing electronic securities account system to blockchain-based data. The company aims to complete the platform by February 2027, when the new framework is scheduled to take effect.
According to the FSC, detailed token securities plans will continue to be discussed by the public-private council before being linked to the broader review, part of South Korea’s preparations for a real-time, continuously accessible and integrated digital market.
Magazine: Japanese pension fund tips 1% in crypto, G7 urges action on NK hackers: Asia Express
The investment bolsters concerns about foreign influence, originally stemming from a major investment by MGX, a UAE state-backed investment company, that boosted the market capitalization of the Trump family’s stablecoin by almost $2 billion overnight.
Here’s where it gets interesting. Within months of the deal, the Trump Administration took policy decisions that benefited the UAE, according to the letter. In May 2025, it approved a $1.4 billion arms sale to the country, despite congressional concerns about weapons flowing to armed groups in Sudan where more than 150,000 people have died.
In the same month, Treasury created a “Known Investor Pilot” program to streamline investment approvals through CFIUS, a fast-track process that the UAE had lobbied for.
The Department of Commerce also rescinded Biden-era chip export restrictions, allowing the UAE to receive up to triple or quadruple the number of advanced chips it previously could have imported. It authorized G42, a UAE AI company chaired by Sheikh Tahnoon bin Zayed Al Nahyan, to receive 35,000 Nvidia Blackwell chips. The deal was worth over a billion dollars.
But U.S. intelligence officials reportedly caught G42 providing U.S. technology that was used to enhance China’s missile capabilities. Though G42 allegedly committed to divesting its Chinese holdings, reports suggest the firm attempted to obfuscate its ties to Beijing by moving its business holdings in China to a new investment firm.
The primary cryptocurrency, which suffered another price decline yesterday (June 23), attempted to reclaim some lost ground, but the recovery was far from convincing.
While numerous altcoins remain in red territory, the lesser-known Audiera (BEAT) has defied the prevailing bearish environment by posting a 40% daily increase.
BTC Fails to Recover
The asset started the business week on the right foot, rising to almost $66,000. However, that pump was short-lived and followed by a pullback to as low as $61,900.
Over the past 24 hours, the bulls tried to step in, briefly lifting the price to nearly $63,000, but the sellers remained active, preventing a more substantial rebound. As of this writing, BTC trades at around $62,600, representing a mere 0.5% increase on a daily scale and a 4.5% plunge for the last week.
It is important to note that the asset’s unsatisfactory performance coincides with the crisis in traditional finance. As CryptoPotato reported, the popular indexes Nasdaq, S&P 500, and South Korean tech stocks headed south after a global sell-off in the Artificial Intelligence (AI) sector.
Meanwhile, the constant outflows from spot BTC exchange-traded funds (ETFs) signal waning interest from institutional investors, which could further weigh on the asset’s short-term performance.
Bitcoin’s market capitalization currently stands at around $1.25 trillion, while its dominance over altcoins remains unchanged at approximately 56.3%.
How are the Alts Doing?
While today’s (June 24) altcoin landscape isn’t the same bloodbath seen 24 hours ago, plenty of tokens are still suffering steep losses. Worldcoin (WLD) has tumbled by 7%, Kaspa (KAS) has plunged by 5%, whereas Litecoin (LTC) is down 3%.
Audiera (BEAT) is on the opposite corner and stands out as the best-performing cryptocurrency (at least from the top 100 list). Its price has exploded by 40% and now trades at around $2.40. Other notable gainers include JUP (+6%), AVAX (+5%), XMR (+4%), and SUI (+3%).
The total crypto market capitalization has risen by 0.5% over the last day and is currently hovering at roughly $2.34 trillion.
The post Bitcoin’s Price Rejected at $63K as This Altcoin Explodes by 40%: Market Watch appeared first on CryptoPotato.
Ripple has received a preliminary Crypto Asset Service Provider license from Luxembourg's financial regulator, a gate-opening step toward offering its payments platform across all 30 European Economic Area countries once final conditions are met. The approval, described as a "Green Light Letter,"… Read the full story at The Defiant
The world’s largest asset manager, BlackRock, has reiterated that bitcoin’s role in investment portfolios is evolving, describing the asset as a viable complementary diversifier for long-term strategies.
The firm outlined that 1% to 2% Bitcoin allocation can be a reasonable range for investors who believe adoption will continue while still accounting for the cryptocurrency’s volatility. The latter, by the way, has been dwindling lately.
The view builds on BlackRock’s broader push into the digital asset industry. As CryptoPotato reported earlier this month, the firm launched the iShares Bitcoin Premium Income ETF, which expanded its BTC-linked product lineup. It’s also a testament to the growing demand for covered-call strategies oriented toward BTC.
At the same time, major institutions are also paying closer attention to blockchain infrastructure. BlackRock’s BUIDL fund is playing a major role in tokenization.
A Small Bitcoin Allocation With Outsized Risk Impact
BlackRock’s portfolio-sizing strategy focuses more on adoption and volatility. In a traditional 60/40 stock-and-bond portfolio, the firm said a 1% to 2% Bitcoin position could contribute a risk share comparable to large technology stocks.
Bitcoin’s role in portfolios is evolving, and it could be considered a complementary diversifier.
We believe a modest allocation (typically ~1–2%) could impact return potential in a portfolio while maintaining appropriate risk tolerance.
Hear more from Michael Gates on how… pic.twitter.com/oOIRfq6F4D
— BlackRock (@BlackRock) June 23, 2026
The key point here is that the allocation remains small by design. According to the asset manager, moving beyond that range could sharply increase Bitcoin’s contribution to overall portfolio risk, especially because the asset remains prone to steep drawdowns and rapid shifts in sentiment.
Institutional Demand Continues to Expand
BlackRock’s latest commentary comes just as Bitcoin exposure through regulated financial products continues to expand. The launch of the iShares Bitcoin Premium Income ETF added yet another layer to the market, targeting investors who are interested in BTC-oriented income strategies, rather than simple spot exposure.
Moreover, the institutional backdrop is also moving beyond Bitcoin. In a recent interview with CryptoPotato, Aptos Labs Chief Business Officer Solomon Tesfaye discussed why firms such as BlackRock are watching blockchain rails tied to tokenized assets, settlement efficiency, and institutional-grade financial activity.
That said, BlackRock’s own language remains cautious. The firm continues highlighting the asset’s volatility, uncertain path of adoption, as well as the need for regular portfolio review.
The post BlackRock Says Bitcoin’s Portfolio Role Is Changing: Why 1-2% Matters appeared first on CryptoPotato.
Key Takeaways
- SanDisk (SNDK) shares reached a 52-week peak of $2,354.39 on June 22 before retreating, maintaining a remarkable 700%+ gain in 2026.
- The decline coincided with a major selloff in South Korea’s Kospi index and mounting uncertainty over AI memory spending sustainability.
- According to Morgan Stanley, SanDisk views AI as “fundamentally changing” NAND dynamics, fueled by inference workloads and expanded LLM context windows.
- Third quarter FY2026 revenue exploded 251% versus prior year to $5.95 billion, crushing Wall Street’s $4.55 billion forecast.
- Fourth quarter outlook projects revenue between $7.75B and $8.25B, with non-GAAP EPS guidance of $30 to $33.
SanDisk (SNDK) shares have delivered one of 2026’s most impressive performances. Following a year-to-date surge exceeding 700%, the stock peaked at $2,354.39 on June 22 before encountering turbulence.
The memory chip maker experienced a steep decline alongside sector peers, pressured by a significant downturn in South Korea’s Kospi benchmark and emerging concerns regarding the durability of AI-fueled memory demand. SNDK has retreated approximately 13.6% in the recent selloff and is down roughly 5.75% across the past five sessions. Trading data shows the stock hovering around $1,963.60.
Despite this correction, shares remain elevated 32.8% over the trailing 30-day period. This perspective is crucial — the current volatility represents the first significant challenge to the AI memory narrative since SanDisk separated from Western Digital in early 2025.
AI’s Transformative Impact on Memory Markets
Morgan Stanley’s Joseph Moore highlighted that SanDisk sees AI as “fundamentally changing” NAND dynamics. The primary catalyst is inference workload requirements. With large language models demanding expanded key-value caches and broader context windows, DRAM capacity alone proves insufficient — positioning NAND to occupy a higher tier in the memory architecture.
Cloud infrastructure is projected to emerge as NAND’s dominant end market before year-end. This transition is already visible in SanDisk’s financials, with data center revenue skyrocketing 233.4% sequentially to reach $1.47 billion during Q3 FY2026.
The third quarter results, announced April 30, exceeded expectations dramatically. Revenue totaled $5.95 billion, representing a 251% year-over-year increase and substantially outpacing the $4.55 billion analyst consensus. Non-GAAP EPS delivered $23.41 compared to the $14.36 estimate. Non-GAAP gross profit surged 1,111.9% annually to $4.7 billion. Additionally, the company achieved debt-free status, closing the quarter with $3.7 billion in cash reserves.
Shares climbed 3.04% on the earnings announcement and continued upward with an 8.25% gain in the subsequent trading session.
Forward Outlook and Valuation
For Q4 FY2026, management projects revenue ranging from $7.75 billion to $8.25 billion, with non-GAAP EPS between $30 and $33. Wall Street analysts forecast Q4 EPS of $31.81, representing a staggering 158,950% year-over-year increase.
QLC Stargate products — which have undergone hyperscaler qualification testing for over twelve months — are anticipated to commence revenue-generating shipments in Q4, supplementing existing TLC product momentum.
Notwithstanding the impressive rally, SanDisk commands a forward adjusted P/E ratio of 34.13 and a price-to-sales multiple of 17.17, both exceeding industry benchmarks. Its trailing P/E of 64.5 surpasses the industry norm of 44.5. Current pricing also sits approximately 12% above the consensus analyst target of $1,863.06.
Among 21 analysts tracking SNDK, 18 assign a “Strong Buy” rating, one recommends “Moderate Buy,” and two rate it “Hold.” Morgan Stanley holds an “Overweight” stance with a $1,750 price objective. The highest Street target stands at $3,250.
Crypto World
INFINIOS and Circle Partner to Expand Digital Finance Infrastructure Across the Middle East
TLDR:
- INFINIOS will integrate USDC, EURC, and Circle’s API-enabled payment rails into its platform.
- The deal targets cross-border payments, treasury management, and embedded finance use cases.
- Both firms align on KYC, AML/CFT, and data protection standards for regional compliance needs.
- Circle’s Middle East expansion accelerates as demand for internet-native financial infrastructure grows.
INFINIOS Circle’s new strategic agreement marks a significant move in the region’s financial technology landscape.
Announced on June 24, 2026, in Manama, Bahrain, the deal links INFINIOS, a Bahraini fintech company, with Circle Internet Financial.
Together, they plan to expand digital payment and treasury infrastructure across the Middle East and beyond, targeting businesses and financial institutions seeking faster, more connected financial solutions.
Stablecoin Integration at the Core of the Agreement
Under the agreement, INFINIOS will integrate Circle’s financial infrastructure into its platform. This includes USDC, EURC, and API-enabled onchain payment capabilities for payouts and treasury operations. The integration gives INFINIOS access to globally recognized stablecoin rails designed for institutional use.
The arrangement covers a broad range of enterprise and institutional use cases. These include cross-border payments, treasury and liquidity management, merchant settlement, and platform payouts. Tokenized financial services and embedded finance solutions are also part of the scope.
Both companies have emphasized a shared commitment to regulatory compliance throughout the collaboration. The agreement aligns with KYC, AML/CFT, and data protection standards relevant to financial operations in the region. This focus on compliance positions the partnership as a trust-based infrastructure initiative.
INFINIOS CEO Sherif Abdelsalam framed the deal as a turning point for regional digital finance. He said the partnership combines INFINIOS’s market expertise with Circle’s technology to unlock real-time, global financial connectivity.
He added that the goal is to build infrastructure that enables seamless, compliant, and scalable financial innovation globally.
INFINIOS Eyes Broader Regional and Global Connectivity
Circle’s Managing Director for the Middle East and Africa, Dr. Saeeda Jaffar, pointed to accelerating demand for modern financial infrastructure across the region.
She noted that businesses and financial institutions are actively seeking faster, more connected ways to move value globally.
The collaboration with INFINIOS, she said, is designed to expand access to Circle’s stablecoin infrastructure across key markets.
Dr. Jaffar also stated that the partnership aims to enable new payment, treasury, and embedded finance use cases across the region.
She described the joint effort as advancing trusted, internet-native financial infrastructure built for greater interoperability, efficiency, and global connectivity. Her remarks reflect Circle’s broader strategy of deepening its footprint in emerging fintech markets.
Circle Internet Group trades on the NYSE under the ticker CRCL and operates as a leading global financial platform company.
Its subsidiary, Circle Internet Financial, brings established stablecoin infrastructure to the partnership. This gives INFINIOS a globally recognized technology backbone for its regional expansion plans.
The collaboration between INFINIOS and Circle reflects a broader trend of traditional and digital finance converging in the Middle East.
As the region’s fintech ecosystem matures, partnerships of this kind are becoming increasingly common. The agreement sets a framework for interoperable, efficient digital finance infrastructure built to scale globally.
Despite a handful of short-lived rebounds, Bitcoin has remained locked in a steep multi-month downtrend, and many analysts believe it hasn’t reached its true cycle bottom.
There is a growing debate over whether BTC (which now trades just south of $63,000) is poised to break under the psychological $50,000 level, with some warning that an even deeper crash might be on the horizon.
Bulls, Get Ready
A few hours ago, Ali Martinez paid close attention to the $60,000-$63,000 range, noting it is the largest volume cluster, with more than 1.3 million BTC transacted.
In his view, “immediate support” at $60,587 must hold to maintain the current trend, but a break below could open the door to a collapse to $46,702, where 150,000 coins moved. Moreover, a subsequent drop beneath that zone could trigger a devastating crash to $37,867, something last observed towards the end of 2023.
X user Chiefy also thinks the worst is ahead, predicting a “final trap” that could take the price to as low as $44,000. “That’s where the crowd finally gives up. Just like they did in 2022,” the analyst added.
Whales Don’t Agree
Despite the prevailing bearish sentiment and a wave of pessimistic forecasts, large investors seem remarkably unshaken. Not long ago, these market participants purchased 30,000 BTC (worth over $1.8 billion) in the span of a single week.
Such accumulation signals that whales are positioning for the next price pump and shows their strong conviction in the asset’s long-term price potential. It is worth noting that smaller players monitor these actions and could get encouraged to hop on the bandwagon, thus distributing fresh capital into the ecosystem.
Meanwhile, the analytics platform Lookonchain revealed that one anonymous whale opened a 40x long position on Bitcoin, worth nearly $70.5 million. This is a highly risky bet, and a plunge to $61,724 would liquidate the trader (should they not provide additional collateral to keep the position open).
Some might see this as a sign of an incoming resurgence. After all, whales are known for being experienced investors who rarely wager substantial sums, relying simply on their sixth sense.
The post Bitcoin Warning: Here’s Why BTC’s Price Could Crash Below $38K (Analyst) appeared first on CryptoPotato.
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