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Bitcoin is sitting around $72,000 with a bear flag forming on the daily and what looks uncomfortably like a head-and-shoulders breakdown in progress. A post circulating on X this week put it well: the current market is “1/3 bullish dip buyers, 1/3 bearish crash callers, 1/3 dead inside.” That third group is the honest one.
This week alone, DeFi took $51 million in exploit losses. Resolv lost roughly $25 million to a mint bug. Step Finance saw around $26 million drained, then shut the entire protocol down. Retail is exhausted. The meme coin cycle ran hot, cooled hard, and left a lot of people with screenshots of gains they no longer have. Meanwhile, institutions are calmly stacking: BNP Paribas ($3 trillion AUM) announced Bitcoin products on March 30, Fannie Mae started accepting BTC-backed mortgages, and Australia is opening a crypto banking sandbox. The institutional calendar says accumulation. The retail chart says pain. Both can be true at the same time.
If you have
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