Bitcoin (BTC) is attempting its first Bollinger Bands breakout in months, while creator John Bollinger is more bullish than some traders.

Key points:

• Bitcoin faces stiff resistance as it attempts daily candle closes above the upper Bollinger Band.
• Volatility comes on cue after the Bands’ tightest-ever conditions last month.
• Creator John Bollinger takes advantage of positive trading signals as part of his investment program.

Responses mixed as Bitcoin tests Bollinger Bands ceiling

Data from TradingView confirms that on Wednesday, BTC/USD saw its second daily close above the upper Bollinger Band on the daily chart, something it has not achieved since mid-January.

BTC/USD one-day chart with Bollinger Bands data. Source: Source: Cointelegraph/TradingView

The Bollinger Bands indicator, used to assess both volatility and momentum, recently saw the narrowest gap between its constituent trend lines ever recorded for Bitcoin.

This led to predictions of a breakout move, with the direction open to debate, as well as heightened volatility to come.

Commenting on the visit to the upper band, however, trader SuperBro noted that the price was now in an area full of potential points of rejection.

“Closed above the upper Bollinger Band, above the trendline on closing prices, but just below the log trendline on wicks,” they wrote in a post on X.

SuperBro added that most potential liquidations now belonged to long positions below the price, with shorts already taken out.

“There are relatively few short liquidations remaining up to 85K compared to long liquidations down to 74K,” they continued. 

“However, bulls still have the momentum advantage and I don’t yet see a good reversal setup. Despite the liquidation imbalance, I’m holding tight to see if we can blast through.”

BTC/USD one-day chart with order-book liquidity data. Source: SuperBro/X

Bollinger, the indicator’s creator, revealed that one of his investment fund’s proprietary trading models had flipped positive on Bitcoin, and had taken a position accordingly. 

Source: John Bollinger/X

“Overheated” Bollinger signal returns after 18 months

Wednesday also saw another Bollinger Band milestone, this time concerning the market value to realized value (MVRV) ratio for speculative investors.

Related: Bitcoin can crash to $50K if ‘most critical’ bear market test fails: Analysis

The metric, recently covered by Cointelegraph, compares Bitcoin’s market cap to the price at which the supply last moved, also known as its “realized cap.”

A Bollinger Bands derivative entered “overheated” territory for the first time since late 2024, the X analytics account Frank Fetter noted.

At the time, BTC/USD was building its first visit to $100,000 in history.

Bitcoin short-term holder MVRV ratio with Bollinger Bands oscillator. Source: Frank Fetter/X

Asked whether “overheated” conditions implied a price reversal, the account said this was “not necessarily” a given outcome.

This article is produced in accordance with Cointelegraph’s Editorial Policy and is intended for informational purposes only. It does not constitute investment advice or recommendations. All investments and trades carry risk; readers are encouraged to conduct independent research.

A 20-year-old California man has been sentenced to six and a half years in federal prison for his role in a crypto theft ring that defrauded victims of more than $250 million.

Marlon Ferro, of Santa Ana, known online as “GothFerrari,” was sentenced to 78 months in prison alongside three years of supervised release and $2.5 million in restitution, the US Attorney’s Office for the District of Columbia said Wednesday. Ferro pleaded guilty in October 2025 to participating in a Racketeer Influenced and Corrupt Organizations (RICO) conspiracy.

“Marlon Ferro served as the criminal enterprise’s instrument of last resort,” US Attorney Jeanine Ferris Pirro wrote, adding that when co-conspirators couldn’t talk victims into surrendering their crypto or hack into their accounts remotely, they sent Ferro to break in physically and steal the hardware wallets storing the funds.

In a February 2024 incident, he traveled to Winnsboro, Texas, broke into a home and walked out with a hardware wallet holding about 100 Bitcoin worth more than $5 million at the time. Months later, he flew to New Mexico, spent days staking out a residence and used a brick to smash his way inside while co-conspirators monitored the victim’s location through his iCloud account. A home surveillance camera caught him in the act.

Ferro using a brick to break into a victim’s home. Source: Justice

Related: Coinbase faces lawsuit over frozen funds from $55M crypto theft

When hacking didn’t work, they sent a burglar

The conspiracy ran from late 2023 to early 2025, with members across California, Connecticut, New York, Florida and overseas. The conspirators each had a role, including hacking databases, identifying targets, making fraudulent calls and laundering money. When victims kept their funds on hardware wallets that couldn’t be accessed remotely, the gang turned to Ferro.

Ferro and his co-conspirators spent the stolen funds on luxury items, including Hermès Birkin bags, watches priced up to $500,000, private jets and exotic cars worth as much as $3.8 million. Nightclub tabs alone reached $500,000 in a single evening.

Ferro also laundered money using fake identification documents, purchased over $255,000 in designer goods for co-conspirators, and helped a jailed conspiracy leader by converting crypto to cash to cover legal fees.

The investigation was led by the FBI and IRS Criminal Investigation.

Related: Law enforcement freezes $41M connected to $150M crypto Ponzi collapse

Crypto hack losses top $630 million in April

April was the worst month for crypto hacks in over a year, with losses totaling $629.7 million, according to DefiLlama. KelpDAO’s $293 million exploit and Drift Protocol’s $280 million hack drove the bulk of the damage, together accounting for more than 90% of monthly losses.

According to Chainalysis security head Yaniv Nissenboim, April’s hack surge reflects a shift toward sophisticated attacks targeting the infrastructure connecting onchain protocols to offchain systems.

Magazine: AI-driven hacks could kill DeFi — unless projects act now

Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.

Key Highlights

• AMINA becomes pioneering regulated financial institution to offer Canton Coin trading services
• Swiss crypto bank introduces regulated custody solutions for Canton Coin holdings
• AMINA broadens institutional digital asset offerings with Canton Coin integration
• Canton Network infrastructure receives boost as AMINA launches trading and custody
• AMINA advances tokenized asset access through Canton Coin platform support

Swiss digital asset bank AMINA has introduced regulated custody and trading capabilities for Canton Coin throughout its institutional banking infrastructure. This strategic expansion reinforces AMINA’s standing in blockchain-based financial services and tokenized asset solutions. The integration provides institutional clients with direct Canton Network access under comprehensive regulatory supervision.

Swiss Bank Broadens Canton Network Institutional Reach

AMINA achieved a milestone as the inaugural FINMA-regulated banking institution to deliver custody and trading capabilities for Canton Coin. The Swiss bank broadened regulated entry points to blockchain technology designed specifically for capital markets functions. This integration facilitates tokenized asset management, collateral operations, repurchase agreement activity, and financial settlement processes.

AMINA rolled out these new capabilities via its regulated banking infrastructure headquartered in Zug, Switzerland. Institutional clients can now maintain and execute Canton Coin transactions directly through the bank, eliminating reliance on third-party crypto custodians or trading platforms. These services specifically address institutions leveraging blockchain technology for settlement operations and asset tokenization processes.

Canton Network maintains its appeal among established financial services companies seeking privacy-oriented blockchain solutions. The network presently facilitates approximately $9 trillion in digitized assets throughout financial markets infrastructure. Digital Asset engineered this infrastructure with backing from prominent financial institutions and cryptocurrency industry participants.

Canton Network Strengthens Position in Institutional Finance

AMINA unveiled Canton Coin capabilities amid intensifying institutional blockchain adoption throughout worldwide financial markets. Canton Network consolidated its role in tokenized finance and compliant settlement infrastructure. The platform emphasizes privacy preservation, operational control, and atomic settlement capabilities for regulated financial entities.

Numerous established finance organizations currently utilize Canton Network infrastructure spanning various market categories. Participating institutions include Visa, BitGo, Goldman Sachs, Citadel, and the Depository Trust & Clearing Corporation. Their involvement demonstrates rising institutional appetite for regulated blockchain frameworks and settlement technologies.

Institutional engagement with Canton Network experienced notable growth throughout recent periods across diverse financial instruments. Earlier in the year, BitGo extended its Canton-focused offerings beyond custody functions into trading and blockchain-based settlement. Furthermore, S&P Dow Jones Indices incorporated its US Treasury Index benchmark into the network for tokenized fixed-income product access.

Swiss Bank Extends Regulated Digital Asset Operations

AMINA has systematically developed its regulated cryptocurrency operations throughout Asia and Europe during the previous year. In November 2025, regulatory authorities in Hong Kong granted enhanced licensing authorization for AMINA’s regional subsidiary. This authorization enabled institutional cryptocurrency trading and custody capabilities within Hong Kong’s financial markets.

The Hong Kong authorization additionally broadened AMINA’s support for numerous prominent digital currencies and stablecoins. Approved digital assets encompassed Bitcoin, Ethereum, USD Coin, and Tether throughout institutional banking platforms. Consequently, AMINA fortified its regulated digital asset portfolio for professional market participants and family office clients.

AMINA simultaneously extended its European footprint through additional regulatory clearances under the European Union’s MiCA regulatory framework. Austria’s Financial Market Authority granted approval to the bank’s Austrian entity for cryptocurrency trading and custody operations. Moreover, AMINA launched institutional financial products connected to Ripple’s RLUSD stablecoin, Polygon staking mechanisms, and USD Coin yield-generating accounts.

 

The crypto market dropped back on Thursday with bitcoin BTC$80,953.28 losing around 0.7% since midnight UTC following Wednesday’s rally to a three-month high of $82,800.

Ether lost around 1% during Asia and European hours, now trading at $2,325 having briefly topped $2,420 on Wednesday.

The broader market is showing early signs of a bullish reversal following a two-month consolidation pattern between February and April, although it’s worth noting that bitcoin needs to break $98,000 in order to break its current cycle of lower highs and lower lows.

The altcoin market continues to indicate investor rotation, with the likes of ALGO and TON rising by between 8% and 9% since midnight UTC.

U.S. equity futures are flat on Thursday while the dollar index (DXY) is down by around 0.1% as investors remain hopeful over a deal to end the war in Iran.

Derivatives positioning

• Crypto futures market activity remained relatively subdued over the past 24 hours, with total futures volume rising just 3% to $216 billion, while aggregate open interest (OI) declined 3% to $133 billion. The divergence between suggests that positioning is being reduced rather than expanded, pointing to deleveraging across the market.
• BTC open interest fell to 762K BTC from 793K BTC a day earlier, ending a three-day streak of sustained positioning growth. Among major assets, DOGE recorded the sharpest decline in OI, down 6%, while XRP OI slipped roughly 1%. The declines across these assets suggest capital outflows and reduced speculative appetite in the near term.
• DOGE positioning appears particularly weak. Funding rates remain negative at an annualized rate of around 6%, indicating that short positions are paying longs to maintain exposure. At the same time, DOGE’s 24-hour cumulative volume delta (CVD) is the most negative among major tokens, signaling aggressive selling pressure from market participants using market orders.
• BTC funding rates, meanwhile, remain broadly neutral after averaging around minus 4% annualized in recent weeks. The normalization in funding suggests that excessive bearish positioning has largely been flushed out of the market. Some observers view this reset as constructive for BTC price action.
• In contrast, ETH and SOL both recorded OI increases of 1% or more despite weakening spot prices. Rising open interest alongside falling prices typically suggests fresh short positioning is entering the market, indicating traders may be positioning for additional downside in these tokens.
• TON continues to stand out on the positioning front. Open interest climbed more than 10% to another record high, signaling continued capital inflows into the asset. TON’s price briefly reached $2.90 earlier today, its highest level since September, and the token is now up 93% on the week. The simultaneous rise in both price and OI points to strong directional participation.
• TON, TRX, and ZEC are currently the only top-30 tokens posting OI-adjusted positive cumulative volume delta readings. This suggests buyers are driving trading activity through aggressive market orders rather than passive limit bids. Most other major assets, including BTC, ETH, and XRP, continue to show negative CVD readings.
• In the options market, bullish sentiment remains evident on Deribit, where call options at strike levels above $80,000 continue to dominate 24-hour volume rankings. According to Glassnode, dealers with short gamma exposure may buy into a potential BTC move above $82,000 to maintain hedges. That could further add to momentum.
• Meanwhile, the one-month volatility risk premium, which measures the gap between implied volatility (IV) and realized volatility (RV), has turned positive again, per Glassnode. This shift indicates renewed demand for short-dated optionality and suggests traders are increasingly willing to pay for near-term volatility exposure after a prolonged period of compressed expectations.

Token talk

• CoinDesk’s DeFi Select Index (DFX) and the CoinDesk MemeCoin Select Index (CDMEME) are the best performing benchmarks on Thursday, rising by 2.5% apiece as speculative trading begins to come into effect.
• The Bitcoin-weighted CoinDesk 5 (CD5) and CoinDesk 20 (CD20) indices are flat since midnight UTC, while the broader CoinDesk 100 (CD100) was also marginally in the red.
• CoinMarketCap’s “altcoin season” indicator is now at 45/100, its highest level since late March having risen from 32/100 since this time last month.
• Despite the wider altcoin market being optimistic, popular DeFi token MORPHO lost 4.6% of its value since midnight UTC and 6.1% over the past 24 hours. it is currently trading at $2.13 with investors taking profits following a rally earlier in the week that lifted it from $1.95 to $2.33.

Ethereum price has pared off some gains after facing resistance at $2,400 this week. A confirmed bullish pattern on the chart, however, positions it for strong upside in the coming sessions.

According to data from crypto.news, Ethereum (ETH) price rose nearly 7% to a weekly high of $2,411 on Wednesday before stabilizing over $2,300 at press time.

Ether, along with the broader crypto market, has entered a period of cautious calm as Iran is reportedly pondering a U.S. proposal to end the war and open up the Strait of Hormuz, bringing balance once again to global energy supply chains and trade.

Despite this investor uncertainty, institutional investors continue to stack their positions in the token. Data from SoSoValue shows that spot Ethereum ETFs extended their inflow streak to the fourth day with over $270 million drawn in the period. This persistent demand from deep-pocketed investors suggests their belief in the token’s future potential and often pulls in fresh capital from retail investors over time.

On the daily chart, Ethereum price has confirmed a bull flag pattern and is eyeing a move above the 38.2% Fibonacci retracement level at $2,381. A decisive break above the flag’s upper boundary could accelerate the rally towards the $2,800 resistance zone or onwards to $3,000 if the current momentum sustains.

Momentum indicators seem to support such a bullish outlook as the Supertrend has remained in the green, indicating a healthy uptrend. At the same time, the MACD lines are close to forming a bullish crossover, which typically signals that the bulls are ready to take back control of the market.

On the contrary, a failure to hold current levels could see Ethereum drop back toward the $2,200 support level, where buyers would likely step in to defend the primary trend.