Estonia’s financial regulator has issued an investor warning against BB Trade Estonia OÜ, the operator behind the Zondacrypto digital asset exchange, citing a missing white paper for the TeamPL token. The Financial Supervisory and Resolution Authority (FSA) says the absence of a published white paper on the exchange’s site violates the EU’s Markets in Crypto-Assets (MiCA) framework, which requires ongoing disclosure for crypto assets offered to the public.

According to the FSA, the warning rests on Article 9, Section 1 of MiCA, which obligates issuers and those seeking admission to trading to keep crypto-asset white papers available on their websites for as long as the assets are held by the public. The FSA’s action signals renewed EU-wide emphasis on disclosure and investor protection as MiCA preparations unfold for a broader set of firms, including smaller exchanges operating across member states.

Cointelegraph reached out to Zondacrypto for comment by publication time but did not receive a response. The warning arrives as Zondacrypto has faced a string of operational and regulatory headwinds, including withdrawal difficulties that have prompted law-enforcement scrutiny in Poland.

The regulatory development comes amid elevated attention to MiCA’s impact on smaller crypto firms, a topic Cointelegraph has previously explored in the context of Europe’s evolving regime for crypto assets and market participants.

The investor warning for Zondacrypto and its parent company. Source: Estonia FSA

In April, Polish authorities opened an investigation into Zonda/ Zondacrypto after users reported withdrawal problems and difficulties accessing their funds. The case has layered regulatory scrutiny across jurisdictions, underscoring cross-border enforcement challenges in a MiCA-enabled Europe.

Related: Europe’s MiCA regime puts smaller crypto firms under pressure

Key takeaways

• The Estonian regulator issued an investor warning to BB Trade Estonia OÜ for lacking a publicly available white paper for the TeamPL token, invoking MiCA Article 9(1).
• The action highlights MiCA’s ongoing disclosure obligations and the heightened regulatory risk for EU-based exchanges and issuers.
• The warning follows withdrawal issues at Zondacrypto and a Polish law-enforcement probe, illustrating cross-border regulatory risk and enforcement coordination within the EU and its neighborhood.
• Company leadership has presented competing narratives about operational solvency and control of key crypto assets, amid questions over governance and long-standing management challenges.
• The case underscores broader MiCA implications for smaller firms, licensing considerations, AML/KYC obligations, and the evolving cross-border regulatory framework in Europe.

Zondacrypto under heightened regulatory and operational scrutiny

Estonia’s FSA stated that BB Trade Estonia OÜ operates Zondacrypto, and the regulator’s warning focuses on the absence of a white paper for the TeamPL token. The FSA asserted that the white paper must remain accessible on the issuer’s site for as long as the token is publicly held, reflecting MiCA’s emphasis on investor protection through transparent disclosures. The regulator’s document links to MiCA’s requirement for ongoing disclosure and reinforces the supervisory stance that even smaller platforms must maintain accessible documentation to inform investors and potential participants.

The FSA’s action comes amid broader questions about how MiCA will reshape the behavior and governance of crypto platforms with EU-based market access. As the European regime continues to take shape, regulators across member states are scrutinizing compliance practices that affect marketing, issuance, and trading of crypto assets. The exact regulatory consequences for BB Trade Estonia OÜ remain to be seen, but the warning could carry potential remedial demands, enforcement action, or other supervisory measures if non-compliance persists.

Withdrawal turmoil, governance questions, and cross-border investigations

Separately, Zondacrypto’s governance and asset-access issues have attracted attention from Polish authorities. In April, Przemysław Kral, the company’s CEO, publicly claimed that the exchange did not have access to a cold wallet containing approximately 4,500 BTC, valued at hundreds of millions of dollars at the time. Kral attributed the problem to a failure to obtain private keys from Sylwester Suszek, the founder and former chief executive, who has reportedly been missing since 2022. While Kral denied insolvency, he asserted that customer obligations would be met, notwithstanding the ongoing access problems.

Subsequent reporting indicated that Kral ceased posting on X in mid-April, and local media suggested he relocated to Israel amid the Polish investigation. Earlier in February, Kral had described Zondacrypto as a Polish-rooted enterprise operating outside Poland’s borders to align with MiCA standards, signaling strategic considerations about where the firm can legally and operationally function within the EU’s regulatory perimeter.

Polish investigators began examining the exchange after users reported withdrawal issues and concerns about accessing funds. The development illustrates how cross-border enforcement and regulatory differences—MiCA implementation in the EU versus national crypto rules in non-EU states—can complicate enforcement, asset recovery, and investor protection when platforms encounter liquidity or custody challenges.

These dynamics place additional pressure on firms to maintain robust custody arrangements, formalized governance structures, and transparent disclosures, particularly as authorities increasingly view cross-border operations through a MiCA-centric lens. The situation also emphasizes the need for clear procedures around loss of keys, governance handovers, and communications with customers during periods of stress, given the potential investor impact and regulatory scrutiny.

Broader policy context and implications for market participants

Analysts monitoring the case note that MiCA is designed to harmonize disclosure standards and supervisory expectations across the European Union, potentially compelling smaller actors to shore up compliance, licensing, and risk management frameworks. The Estonia FSA’s action is consistent with a broader regulatory push to ensure that investors can access critical information about crypto assets offered to the public and traded on EU platforms. In parallel, authorities in Poland and other jurisdictions demonstrate that enforcement will continue to traverse borders, requiring cooperation and information-sharing to address operational failures, custody risks, and potential misappropriation concerns.

For exchanges seeking to operate under MiCA, the case underscores several practical implications: maintaining up-to-date white papers and disclosures; ensuring custody arrangements are verifiable and resilient; and maintaining clear lines of communication with customers and regulators. It also highlights the enduring tension between national regulatory regimes and EU-wide directives, particularly for entities with roots in one jurisdiction but active service across multiple member states.

From a compliance perspective, the episode reinforces the importance of AML/KYC frameworks, licensing status, and ongoing regulatory reporting. For investors and institutional clients, the development serves as a reminder to assess counterparty risk, governance quality, asset custody arrangements, and the credibility of information disclosed by platforms operating within or outside EU borders.

Looking ahead, authorities may pursue further clarifications, corrective actions, or sanctions related to the MiCA-compliance shortfall identified by the Estonian regulator. The cross-border nature of Zondacrypto’s challenges—combining MiCA obligations with Polish enforcement activity—will likely keep regulators attentive to lessons learned about transparency, custody risk, and the resilience of digital-asset trading platforms in the EU ecosystem.

Closing perspective: As MiCA continues to shape regulatory expectations for crypto firms, the Zondacrypto case illustrates how disclosure requirements, governance standards, and cross-border investigations intertwine to influence operational viability and investor protection in Europe’s evolving crypto market.

AI Hosting Revenue Becomes TeraWulf’s Main Business

TeraWulf generated $21 million from HPC leasing during the quarter, while Bitcoin mining produced less than $13 million. The company achieved this milestone after expanding operations at its Lake Mariner facility in New York. As a result, AI infrastructure became the company’s largest source of revenue for the first time.

The company continued building dedicated HPC facilities during the quarter and expanded capacity for enterprise computer workloads. TeraWulf confirmed that 60 megawatts of HPC capacity already generate recurring revenue at Lake Mariner. Meanwhile, additional infrastructure projects remain under construction throughout 2026.

Core42 remained a major contributor to quarterly revenue because the company leased AI compute capacity at the site. TeraWulf also continued coordinating deployments with Fluidstack and Google-linked infrastructure operations. Consequently, the company strengthened its position in the growing AI infrastructure market.

Bitcoin Mining Revenue Declines as Margins Tighten

Digital asset mining revenue declined sharply from the previous year despite stable overall quarterly revenue. TeraWulf reported that mining revenue dropped from $34.4 million in the prior-year period. At the same time, higher network difficulty continued pressuring Bitcoin mining economics across the sector.

The company also posted a quarterly net loss exceeding $427 million due to non-cash warrant revaluation charges. However, operating trends improved as recurring HPC contracts increased across existing facilities. Management stated that contracted hosting revenue now supports long-term cash generation.

Cost structures also improved significantly after the transition toward AI infrastructure operations. During the latest quarter, TeraWulf spent substantially less on operational costs relative to total revenue. Consequently, the company reduced dependence on volatile Bitcoin mining returns.

Crypto Mining Firms Expand Into AI Infrastructure

Several crypto mining firms now pursue AI hosting opportunities as traditional mining margins remain compressed. Riot Platforms recently reported revenue contributions from data center operations linked to AI and cloud customers. In addition, industry participants increasingly describe themselves as computer infrastructure operators.

TeraWulf accelerated this transition after securing long-term contracts tied to AI compute infrastructure. The company disclosed billions of dollars in contracted HPC revenue linked to future infrastructure projects. Furthermore, management continued advancing expansion plans at the Hawesville facility in Kentucky.

The company recently raised $900 million to support construction and future infrastructure growth across multiple campuses. That funding will support additional AI data center capacity and customer deployments during the coming quarters. As demand for power-dense infrastructure rises, TeraWulf continues reducing exposure to Bitcoin market cycles.

TeraWulf Expands AI Infrastructure Footprint

Lake Mariner remains central to TeraWulf’s AI infrastructure strategy because the site supports large-scale computer deployments. The company confirmed that construction of the CB-3 building approached completion during the quarter. CB-4 and CB-5 remain scheduled for delivery later this year.

TeraWulf aims to scale contracted AI hosting revenue while maintaining selective Bitcoin mining operations across existing facilities. The company stated that mining operations continue supporting the broader transition toward contracted compute infrastructure. Consequently, management expects AI hosting revenue to increase further during the remainder of 2026.

The latest results highlighted a broader transformation across the crypto mining industry as firms pursue more stable revenue streams. AI infrastructure contracts now provide recurring income opportunities compared with unpredictable mining returns. Therefore, TeraWulf continues positioning itself as a large-scale compute infrastructure provider rather than a traditional Bitcoin miner.

According to Cointelegraph, Payward—the parent company of cryptocurrency exchange Kraken—has filed an application with the U.S. Office of the Comptroller of the Currency (OCC) for a national trust company charter. If approved, Payward National Trust Company would provide fiduciary custody and related services primarily for digital assets, marking a notable milestone in the push to embed crypto custody within federally supervised banking infrastructure. The filing comes as the OCC has already granted similar national trust charters to Coinbase, Ripple Labs, BitGo, Circle, Fidelity Digital Assets and Paxos, signaling a regulatory tendency toward formalized custody oversight for digital assets.

In its disclosure, Payward indicated that the OCC charter would build on the firm’s existing Wyoming Special Purpose Depository Institution (SPDI) framework established through Kraken Financial, as well as its Federal Reserve master account that enables access to the U.S. payment system. The national trust charter would, if approved, expand Payward’s ability to offer fiduciary custody and related services on a national scale, aligning Kraken’s custody offering with other federally regulated financial services providers.

“A national trust company provides the certainty institutions require and establishes the infrastructure to build the next generation of custody,” Kraken co-CEO Arjun Sethi said. “This is not about being first; it is about getting the framework right so markets can scale with clarity, interoperability, and long-term vision for what clients will demand as these systems mature.”

The OCC—led by Jonathan Gould, the regulator appointed under the Trump administration—approved similar charter applications for Ripple Labs, BitGo, Circle, Fidelity Digital Assets and Paxos in December. The agency’s approvals have generated scrutiny as it weighs other applications, including World Liberty Financial, a crypto-focused firm co-founded by former President Donald Trump and his sons, highlighting ongoing regulatory vigilance over the pace and direction of federally chartered crypto custody.

Payward states that the OCC application would complement its Wyoming SPDI framework and Federal Reserve account by enabling a nationwide fiduciary custody service for digital assets. The company has described the combination as strengthening the infrastructure institutions require to custody digital assets with formal supervisory oversight and interoperability within the regulated payments system.

Kraken’s broader regulatory and market-building agenda

Beyond custody, Kraken’s corporate trajectory includes strategic acquisitions and a potential public listing. Payward has recently completed deals and announced plans that would expand the firm’s footprint in the U.S. derivatives and broader crypto services markets. Kraken’s leadership has signaled a pathway toward a U.S. initial public offering, with co-CEO Sethi stating in May that the company was “about 80% ready” to go public by 2027, alongside reinforcing partnerships designed to broaden customer access to on- and off-ramp services.

From a regulatory perspective, the national trust charter question sits at the nexus of custody governance, anti-money laundering (AML) and know-your-customer (KYC) controls, and integration with traditional banking rails. A federally chartered custodian would be subject to OCC oversight, capital adequacy standards, internal control requirements, and ongoing supervisory examinations. For institutional clients—including banks, asset managers, and other custodians—the availability of a federally chartered digital-asset custodian could influence risk management frameworks, vendor due diligence, and licensing strategies across state and federal lines.

Regulatory context and implications for market structure

The OCC’s recent actions reflect a broader trend toward formalizing the custody and settlement infrastructure for digital assets within the U.S. financial system. As crypto custody transitions from purely private arrangements to regulated custodial services, institutions acquire clearer protection mechanisms, standardized compliance expectations, and more transparent risk governance. This evolution interacts with other U.S. regulators and policy discussions, including potential alignment with national standards for AML/KYC, licensing regimes for crypto businesses, and the ongoing development of a coherent cross-border regulatory regime that differentiates U.S. rules from European frameworks like MiCA.

The landscape remains nuanced. While federally chartered status can confer perimeters of regulatory certainty, it also entails intensified supervisory scrutiny, potential capital and liquidity requirements, and the need to maintain robust internal controls and cyber risk defenses. The attention directed at World Liberty Financial demonstrates that the OCC’s chartering decisions continue to draw public and congressional interest, underscoring the importance of rigorous, well-documented risk management and compliance programs for applicants and counterparties alike.

For exchanges, banks, and institutional investors, the emergence of federally chartered crypto custodians could affect counterparty selection, settlement reliability, and the interoperability of crypto services with traditional financial rails. Institutions may increasingly favor counterparties that can demonstrate formal oversight, standardized custody practices, and robust operational resilience—areas where a national trust charter would be designed to provide assurance.

In the near term, the regulatory process remains select and iterative. Applicants face not only the completion of technical and governance reviews but also the need to satisfy evolving supervisory expectations on custody protections, data security, and risk management. If Payward’s OCC application progresses to approval, Kraken would join a small but growing cadre of federally supervised custody providers, potentially shaping both product design and regulatory dialogues across the crypto sector.

Looking ahead, observers will monitor the OCC’s decision timeline, the outcome of any competing applications, and how federal custody charters influence the broader policy conversation on crypto banking, custody standards, and the integration of digital assets into mainstream financial markets. The evolution of this framework will have tangible implications for crypto firms’ licensing strategies, AML/KYC compliance programs, and the likelihood of further consolidation around well-regulated custody solutions.

Copyright 2026 Cointelegraph. This reporting aligns with ongoing regulatory and policy developments and aims to inform compliance, legal, and institutional analysis. Readers are encouraged to review official regulatory filings and statements for precise legal interpretation.

Institutional capital is flowing back into digital assets, but this cycle looks very different from the last one.

Prediction markets are beginning to attract serious attention from Wall Street, Bitcoin exchange-traded funds (ETFs) are once again seeing large inflows and venture giant a16z is loading up another multibillion-dollar crypto war chest. Meanwhile, traditional banks are quietly accelerating their push into tokenized finance infrastructure.

Taken together, this week’s Crypto Biz points to a broader shift underway across the industry. Crypto companies are no longer just chasing retail traders — they’re increasingly building products for asset managers, banks, hedge funds and institutional investors looking for regulated ways to access digital assets.

Prediction markets court institutional capital

Prediction markets are beginning to attract institutional interest after Kalshi executed what analysts at Bernstein described as the sector’s first bespoke institutional block trade. The transaction involved a custom contract tied to California carbon allowance auctions and was facilitated with liquidity support from Jump Trading.

In a recent note to clients, Bernstein analysts said the trade marks an important step in the evolution of prediction markets from primarily retail-driven speculation into a more mature financial product category. Institutional investors are increasingly exploring event contracts tied to macroeconomic policy, elections and geopolitical developments as hedging tools.

The report also highlighted how regulated infrastructure is becoming a bigger focus for the sector. Kalshi operates under regulatory oversight in the United States, while decentralized rivals have largely grown through crypto-native platforms outside traditional financial rails. Bernstein believes broader institutional participation could eventually push prediction market volumes into the trillions of dollars.

Kalshi’s largest active event contracts. Source: Bernstein

Bitcoin ETFs see $1 billion in inflows as BTC retakes $80,000

US spot Bitcoin ETFs recorded nearly $1 billion in inflows as BTC climbed back above the $80,000 mark, highlighting renewed institutional demand for crypto exposure. 

The inflows marked one of the strongest single-day performances for the ETF sector in recent months and coincided with broader strength across digital asset markets, according to SoSoValue data. 

Analysts believe the ETF demand reflects improving investor sentiment and continued accumulation from institutional buyers using regulated investment products to gain Bitcoin exposure. The latest inflows build on an impressive April, when Bitcoin ETFs pulled in $1.97 billion.

Bitcoin ETF inflows accelerated after BTC reached $80,000. Source: SoSoValue

A16z crypto raises $2 billion for next wave of crypto funding

Andreessen Horowitz’s crypto venture arm, a16z crypto, has raised $2 billion for a new crypto-focused investment fund, marking one of the largest venture capital commitments to the sector in years. 

The fund will target crypto startups spanning blockchain infrastructure, Web3 applications and decentralized finance. It comes as venture activity begins showing signs of recovery after a prolonged slowdown across digital asset markets. While crypto funding remains well below 2021 levels, venture capital continues to invest in early-stage companies building core industry infrastructure.

A16z has remained one of crypto’s most influential venture investors through the market downturn, backing projects across gaming, stablecoins, developer tooling and decentralized networks. 

Source: a16z crypto

Tennessee bankers select Stablecore for digital asset services

The Tennessee Bankers Association has selected Stablecore as its preferred digital asset infrastructure provider, opening the door for roughly 175 member banks to access crypto-related banking services. 

The partnership is focused on helping financial institutions integrate stablecoins, tokenized deposits and other blockchain-based payment tools into their operations.

Stablecore provides backend infrastructure that allows banks to offer digital asset services without building their own crypto technology stack. The company said its platform supports tokenized assets, stablecoin functionality and compliance integrations for regulated financial institutions.

The agreement reflects growing interest among regional and community banks in digital asset infrastructure as traditional finance moves deeper into blockchain payments and tokenization. 

Crypto Biz is your weekly pulse on the business behind blockchain and crypto, delivered directly to your inbox every Thursday.

TLDR:

• SEC Chair Paul Atkins said crypto markets may need updated securities rules built for blockchain systems.
• The SEC is reviewing exchange definitions to determine how on-chain trading platforms should be regulated.
• Broker and dealer rules may be revised to address wallets, software interfaces, and DeFi platforms.
• Crypto vaults generating yield are under review for possible securities and adviser law oversight.

SEC crypto regulation is moving toward structural reform after Chair Paul Atkins outlined plans to review outdated securities rules.

The proposal focuses on adapting financial regulations to fit blockchain-based trading systems, settlement models, and crypto yield products.

SEC Reviews Exchange and Broker Rules for On-chain Markets

SEC Chair Paul Atkins signaled a major policy review for crypto markets during remarks at an industry event. He said the agency is considering whether long-standing securities rules still fit blockchain infrastructure.

The review centers on how the SEC classifies exchanges, brokers, dealers, and clearing agencies in decentralized finance. Atkins noted that on-chain systems operate differently from traditional financial institutions built around multiple intermediaries.

In legacy markets, brokers handle orders while exchanges match trades. Clearing agencies then manage settlement risks before assets move between parties. Blockchain systems compress these functions into automated protocols.

A decentralized exchange can execute swaps, route liquidity, manage collateral, and settle trades within seconds. Because of this architecture, regulators face increasing pressure to modernize rulebooks created for older financial models.

Eleanor Terrett took on X, where she noted that the SEC may launch notice-and-comment rulemaking around exchange definitions. This process allows developers, investors, and market operators to submit formal feedback before rules are finalized.

The move is notable because crypto firms have repeatedly criticized enforcement-driven oversight. Instead of learning compliance expectations through lawsuits, the market may now receive a clearer regulatory framework.

Atkins also addressed broker and dealer definitions as crypto interfaces become more software-driven. Wallet applications and front-end platforms often facilitate transactions without taking custody of assets.

This creates uncertainty about whether software operators should be subject to broker-dealer requirements. The SEC is now studying whether exemptive rulemaking could offer practical flexibility.

Blockchain Settlement and Crypto Vault Oversight Gain Focus

Atkins dedicated attention to clearing systems, which remain central to securities markets. Traditional clearinghouses exist because stock trades do not settle instantly.

Between trade execution and settlement, counterparties face the risk of non-delivery. Clearing agencies absorb this risk and maintain market stability.

Blockchain networks reduce this friction through near-instant settlement. Smart contracts can verify collateral, automate liquidations, and complete transfers programmatically.

Atkins questioned whether traditional clearing frameworks remain necessary for systems with atomic settlement. This review could influence the future design of tokenized securities platforms in the United States.

A separate part of the speech focused on crypto vaults that generate on-chain yield. These products often combine lending, staking, and treasury strategies into a single structure.

The SEC is assessing how such products fit under the Securities Act and Investment Advisers Act. Regulators appear focused on determining where investor protections are required.

Crypto yield platforms have expanded rapidly, yet legal classifications remain unclear. Atkins’ remarks suggest the SEC wants more tailored rules for these products.

Overall, SEC crypto regulation appears to be shifting from enforcement-first tactics toward infrastructure-specific policymaking. While no final rules were announced, the agency is now openly examining whether blockchain markets require updated legal architecture.

Bitcoin profit-taking could accelerate as BTC prices climb to three-month highs and investors begin locking in gains, according to Julio Moreno, head of research at onchain analytics platform CryptoQuant.

Holders realized 14,600 BTC in profits on Monday, or $1.1 billion, following Bitcoin’s April rally, Moreno said, adding that this is the “highest” single day of profit-taking since Dec. 10, when BTC was trading above $90,000.

Bitcoin holders’ realized profits spike after the April rally. Source: CryptoQuant

The Short-Term Holder Spent Output Profit Ratio (STH-SOPR), an onchain metric that gauges profit-taking by wallets that have held BTC for less than 155 days, also rose above 1, a level that indicates “clear profit-taking territory,” he added. He said:

“Bitcoin holders are realizing more than 20,000 BTC in net profits on a 30-day rolling basis, the first positive reading since December 22, 2025, following a period of heavy net losses in February and March that reached as deep as 398,000 BTC.”

Spikes in realized profit levels during crypto bear markets typically signal local price tops or sideways price action, Moreno said, adding that despite the rise in realized profits, demand has not caught up, and BTC remains in a bear market.

The Bitcoin Short-Term Holder Spent Output Profit Ratio signals that short-term holders are realizing profits. Source: CryptoQuant

Related: Bitcoin ‘supercycle’ or bear-market rally? BTC breaking $81K has traders at odds

Bitcoin ETF inflows remain strong, while analysts are divided on market health

Inflows into Bitcoin exchange-traded funds (ETFs) remain strong, with four days of positive inflows this week, according to Farside data.

ETF inflows for the week surged past $1 billion, before an outflow of $268.5 million on Friday, Farside’s data shows.

Analysts remain divided about whether BTC has bottomed out or whether the ongoing bear market will deepen. 

Michael Terpin, an early Bitcoin investor, told Cointelegraph that BTC could bottom out at $57,000 in October 2026. The forecast is based on “historic” price patterns in which BTC hits its cycle low about one year after the cycle top, Terpin said.

There is a “chance” that Bitcoin might reclaim the $100,000 price level in 2026, but the odds are “unlikely,” Terpin told Cointelegraph.

Magazine: Bitcoin will not hit $1M by 2030, says veteran trader Peter Brandt

Bitcoin traded near $79,000 on Friday, as buyers stepped in on pullbacks toward the round figure and nudged prices back toward the $80,000 zone. The immediate question for traders is whether BTC can clear the overhead at around $84,000 and extend the current upmove, or if renewed selling pressure will cap the rally once more. The day’s readings come as a mosaic of signals from price momentum, on-chain flows, and notable market commentators, leaving traders weighing multiple interpretations of the short-term trajectory.

CryptoQuant analyst IT Tech weighed in on the chart dynamics, arguing that a bottom would only be confirmed if BTC rallies and sustains above $88,880. Until that level proves itself, the $85,000 to $88,000 area could remain a zone where buyers take profits and sellers step back in. Meanwhile, John Bollinger, creator of the Bollinger Bands, signaled a bullish turn in BTC’s trend in a recent post on X, suggesting the model’s readings point toward upside momentum and that positions have shifted in favor of the bulls.

Adding a different lens, Bitcoin exchange-traded funds (ETFs) registered $277.5 million in net outflows on Thursday, the first such move in May according to SoSoValue data. The retreat of funds from BTC-linked products hints that, even as fundamentals and some charts look constructive, a portion of investors are choosing to lock in profits near resistance rather than chase higher prices into the next leg.

Key takeaways

• Bitcoin remains near $79k with a critical test above $84k needed to sustain a broader uptrend toward $92k and beyond.
• A hold above $88,880 is seen by some analysts as a prerequisite to confirming a market bottom for BTC.
• On-chain ETF outflows in May suggest selective profit-taking even as the price action hints at potential upside in the near term.
• Ether and several major altcoins show mixed momentum, with several key levels flashing as potential breakout or breakdown points.

Bitcoin price outlook

From a technical vantage, BTC’s near-term direction hinges on the defense of the 20-day exponential moving average (EMA) around $77,929. A sturdy rebound from this level would imply renewed buying interest on every dip and could set the stage for a breakout above the $84,000 ceiling. If that breakout occurs and holds, the chart suggests the potential for a move toward $92,000, followed by a possible rise to around $97,924 as the next milestone on the upside.

Conversely, bears are likely to defend the $84,000 area. A break below $74,937 could open the door to the 50-day simple moving average near $73,448 and then the broader support line, potentially inviting a deeper pullback. In that scenario, traders would expect a period of consolidation before the market decides its next major directional move.

Ether price outlook

Ether (ETH) crossed into a softer phase after closing below the 20-day EMA near $2,304, a sign that profit-taking among traders may have cooled the immediate upside. The next meaningful support sits near the 50-day SMA around $2,225, with a bullish signal emerging if ETH can rebound off that level and maintain momentum.

The first hurdle for bulls is a break above $2,465, which would mark the initial step toward a resistance zone that could limit gains in the near term. Clearing that barrier could open the path to higher targets, potentially toward $3,050 if demand strengthens and price action stays constructive. Until such a breakout materializes, ETH could remain confined within its current range as bulls and bears duel near the midline.

Other marquee movers and their levels

BNB, XRP, SOL, DOGE, HYPE, ADA, ZEC, and BCH all present a mosaic of setups as traders assess whether they can sustain a trend shift or remain oscillating within established ranges.

BNB: The Binance Coin chart shows a retreat toward moving averages, suggesting that buyers are waiting for a clearer setup. A rebound off these averages could push BNB toward the $687 target, with overhead resistance expected between $570 and $687. A decisive close above $687 would inject bullish momentum toward $730 and potentially $790, though sellers are likely to challenge the higher hurdle around $790.

XRP: XRP continues to hover near its moving averages, indicating an equilibrium between buyers and sellers. A break below $1.27 could push the pair back into a descending channel, while a sustained push above the downtrend line and roughly $1.61 could clear the way to $2.

Solana: SOL is facing selling pressure near $90.73, though bulls have not conceded much ground. A push above $90.73 could drive SOL toward $98, with a potential extension to $117 if momentum accumulates. If prices fail to sustain above the moving averages, the pair could stay in a tighter range; a break below $82.65 could open a path toward $76.

Dogecoin: DOGE pulled back from the $0.12 resistance as traders took profits. The immediate line in the sand is the 20-day EMA near $0.10. A bounce from this level could see DOGE test $0.12 again and then target $0.14–$0.16. A break below the EMA could keep the currency in the lower $0.09–$0.12 range for a spell.

Hyperliquid (HYPE): The HYPE chart shaved off gains after failing to sustain a rally in the $43.76–$45.77 zone, with the price retreating to the 20-day EMA around $41.69. A rebound could re-energize bulls toward $50, while a drop below the 50-day SMA at about $40.29 could pull the price toward $34.45.

Cardano (ADA): ADA remains range-bound in a broad $0.22–$0.31 corridor. The 20-day EMA around $0.25 has started to tilt higher, and the RSI sits modestly in positive territory, suggesting a slight edge for bulls. A move above the moving averages could push ADA toward $0.30 and, eventually, to the $0.31 resistance. A break below the averages would tilt the balance toward the $0.22 support.

Zcash (ZEC): ZEC breached above $560 but stalled at $607. A shallow pullback is a constructive sign, indicating bulls aren’t in a rush to exit. A move above $607 could target $750, while supports sit at $496 (38.2% retracement) and $462 (50%), with a close below $428 (61.8% retracement) risking a deeper pullback.

Bitcoin Cash (BCH): BCH reversed from $486, keeping the pair largely within a range. With the 20-day EMA near $450 and the immediate band roughly $419–$486, a close above $486 could spark a move to $520, whereas a close below $419 might open the door to a slide toward $375.

What could shift the next leg?

Market participants are watching how BTC behaves around the $84,000 threshold and whether altcoins can sustain breakouts beyond their critical levels. The balance of on-chain flows, ETF behavior, and macro risk appetite will likely shape the near-term trajectory. If BTC can convincingly clear $84,000 and hold above key moving averages, the broader market could see a renewed cycle of risk-on positioning. If not, the current range-bound conditions may persist into the next phase of the market cycle.

Readers should stay attentive to potential catalysts beyond chart patterns—the evolving regulatory landscape, institutional interest, and flows into or out of crypto-linked funds—each of which can tilt sentiment and liquidity in the days ahead. In the near term, the market’s next move may hinge on whether BTC sustains momentum above key resistance and whether altcoins can muster the breadth to follow suit beyond their own technical thresholds.

As the week unfolds, the question remains: will the market manage to extend the nascent upside, or will profit-taking reassert itself, keeping prices tethered as traders await clearer signals?