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Bitcoin’s (BTC) four-year cycle, anchored around its halving events, is widely recognized as a key factor in BTC’s year-over-year price growth. Within this larger framework, traders have come to expect distinct phases: accumulation, parabolic rallies, and eventual crashes.

Throughout the four-year period, shorter-duration cycles also emerge, often driven by shifts in market sentiment and the behavior of long- and short-term holders. These cycles, shaped by the psychological patterns of market participants, can provide insights into Bitcoin’s next moves.

Bitcoin whales eat as markets retreat

Long-term Bitcoin holders — those holding for three to five years — are often considered the most seasoned participants. Typically wealthier and more experienced, they can weather extended bear markets and tend to sell near local tops. 

According to recent data from Glassnode, long-term holders distributed over 2 million BTC in two distinct waves during the current cycle. Both waves were followed by strong reaccumulation, which helped absorb sell-side pressure and contributed to a more stable price structure. Currently, long-term Bitcoin holders are in the new accumulation period. Since mid-February, this cohort’s wealth increased sharply by almost 363,000 BTC.

Total BTC supply held by long-term holders. Source: Glassnode

Bitcoin (BTC) spot exchange-traded funds (ETFs) faced significant pressure amid uncertainty caused by the ongoing global trade war. Between March 28 and April 8, these ETFs experienced net outflows totaling $595 million, according to Farside Investors data. Notably, even after most US import tariffs were temporarily lifted on April 9, the funds still recorded an additional $127 million in net outflows.

This situation has left traders questioning the reasons behind the continued outflows and why Bitcoin's rally to $82,000 on April 9 failed to boost confidence among ETF investors.

Spot Bitcoin ETF net flows. Source: Farside Investors

Corporate credit risk could be driving investors away from BTC

One factor contributing to diminished interest is the rising likelihood of an economic recession. "What you can clearly observe is that liquidity on the credit side has dried up," Lazard Asset Management global fixed income co-head Michael Weidner told Reuters. Essentially, investors are shifting toward safer assets like government bonds and cash holdings, a trend that could ultimately lead to a credit crunch.

A credit crunch is a sharp decline in loan availability, leading to reduced business investment and consumer spending. It can happen regardless of US Treasury yields because heightened borrower risk perceptions may independently restrict credit supply.

Digital payments company Block Inc. has reached a $40 million settlement with New York regulators over alleged compliance misconducts tied to its Cash App platform, Bloomberg reported on April 10.

Block was fined by the New York Department of Financial Services (NYDFS) following an investigation into Cash App’s Anti-Money Laundering (AML) and cryptocurrency compliance operations, Bloomberg said after reviewing the government agency’s consent order. 

NYDFS determined that Block allegedly violated consumer protection laws and didn’t conduct proper due diligence on its customers. The company was allegedly too slow in reporting suspicious transactions to regulators and failed to adequately screen so-called “high-risk” Bitcoin (BTC) transactions. 

Block confirmed that it had worked with NYDFS to “resolve the matter principally related to Cash App’s past compliance program.” However, it did not admit to any wrongdoing, according to Bloomberg. 

Block, which was founded by internet entrepreneur and Bitcoin advocate Jack Dorsey in 2009, had been negotiating a settlement with the NYDFS since last year, based on filings submitted with the US Securities and Exchange Commission (SEC).

Users of the Atomic and Exodus wallets are being targeted by threat actors uploading malicious software packages to online coding repositories to steal crypto private keys in the latest cybersecurity threat identified by security professionals. 

According to cybersecurity researchers at ReversingLabs, the exploit works by hiding malicious code in seemingly legitimate npm software packages, which are pre-built bundles of code widely used by software developers.

These malicious software packages target locally installed Atomic Wallet and Exodus Wallet files by installing a patch that overwrites the files to compromise the user interface and fool the unsuspecting victim into sending crypto to scam addresses.

Software supply chain attacks are an emerging threat vector targeting crypto holders as the industry continues to play a cat-and-mouse game with hackers attempting to steal user funds using increasingly sophisticated methods to avoid detection.

The malicious code contained in the pdf-to-office package. Source: ReversingLabs

Ether exchange-traded funds (ETFs) in the United States may be able to start staking a portion of their tokens as soon as May, according to Bloomberg Intelligence analyst James Seyffart. 

On April 9, the US Securities and Exchange Commission (SEC) authorized exchanges to begin listing options contracts tied to spot Ether (ETH) ETFs after greenlighting Bitcoin (BTC) ETF options in September. However, issuers are still waiting for the regulator to allow Ether ETFs to offer staking after filing numerous requests for permission earlier this year.

Source: James Seyffart

The approval of options contracts could represent a key step toward regulatory approval for staking services in the United States. Bloomberg Intelligence analyst James Seyffart said on April 9 that clearance for staking on ETH funds could come as early as May but would likely take until the end of 2025.

“It's possible they could be approved for staking early, but the final deadline is at the end of October,” Seyffart said in a post on the X platform. “Potential intermediate deadlines before the final approval (or denial) are in late May & late August.”

Crypto startup Meanwhile has raised $40 million to scale its Bitcoin-denominated life insurance business, targeting so-called “inflation-prone economies” where policyholders may seek alternatives to traditional fiat-based payouts.

The Series A investment round was led by Framework Ventures and Fulgur Ventures, with additional participation from Xapo founder Wences Casares, the company disclosed on April 10. 

Meanwhile previously secured $20.5 million in seed funding backed by OpenAI CEO Sam Altman and others.

Source: Meanwhilelife

Regulated by the Bermuda Monetary Authority, Meanwhile offers a whole life insurance policy denominated in Bitcoin (BTC), giving policyholders the ability to safeguard the value of their life insurance against currency debasement. 

Bitcoin (BTC) price failed to hold its weekly open gains on April 10 as US stocks ignored positive inflation data.

BTC/USD 1-hour chart. Source: Cointelegraph/TradingView

Data from Cointelegraph Markets Pro and TradingView showed BTC price volatility ticking higher around the release of the March Consumer Price Index (CPI) numbers.

These numbers came in broadly below expectations, revealing slowing inflationary forces despite mass-market disruption due to US trade tariffs.

An official press release from the US Bureau of Labor Statistics (BLS) stated:

Opinion by: Roman Cyganov, founder and CEO of Antix

In the fall of 2023, Hollywood writers took a stand against AI’s encroachment on their craft. The fear: AI would churn out scripts and erode authentic storytelling. Fast forward a year later, and a public service ad featuring deepfake versions of celebrities like Taylor Swift and Tom Hanks surfaced, warning against election disinformation. 

We are a few months into 2025. Still, AI’s intended outcome in democratizing access to the future of entertainment illustrates a rapid evolution — of a broader societal reckoning with distorted reality and massive misinformation.

Despite this being the “AI era,” nearly 52% of Americans are more concerned than excited about its growing role in daily life. Add to this the findings of another recent survey that 68% of consumers globally hover between “somewhat” and “very” concerned about online privacy, driven by fears of deceptive media. 

It’s no longer about memes or deepfakes. AI-generated media fundamentally alters how digital content is produced, distributed and consumed. AI models can now generate hyper-realistic images, videos and voices, raising urgent concerns about ownership, authenticity and ethical use. The ability to create synthetic content with minimal effort has profound implications for industries reliant on media integrity. This indicates that the unchecked spread of deepfakes and unauthorized reproductions without a secure verification method threatens to erode trust in digital content altogether. This, in turn, affects the core base of users: content creators and businesses, who face mounting risks of legal disputes and reputational harm. 

The crypto industry has welcomed the confirmation of American businessman and former US Securities and Exchange Commissioner Paul Atkins as chair of the agency.

Atkins’ approval has taken months. He appeared before the Senate on March 27 to explain his intended approach to securities regulation in the United States, as well as his views on digital assets. 

Atkins will replace acting Chair Mark Uyeda as head of the agency, which began unwinding a number of court cases and enforcement actions against cryptocurrency firms when President Donald Trump took office. However, these actions don’t amount to clear guidance — yet.

Now that Atkins is ready to take the helm, the blockchain industry is hoping for the guidance they’ve been wanting for years. So, who is Paul Atkins, and what can the industry expect?

Senator Cynthia Lummis celebrated the confirmation. Source: Cynthia Lummis

Standard Chartered and cryptocurrency exchange OKX are piloting a new program allowing institutions to use crypto assets and tokenized money market funds (MMFs) as collateral.

Announced on April 10, the collateral mirroring program enables off-exchange collateral usage while enhancing security by placing custody with a globally systemically important bank, according to a joint statement from the companies.

The pilot has been launched under the regulatory oversight of the Dubai Virtual Asset Regulatory Authority, with Standard Chartered acting as a regulated custodian in the Dubai International Financial Centre (DIFC).

The program launched in collaboration with crypto-friendly asset manager Franklin Templeton and features Brevan Howard Digital among the first institutions to trial the new capability.

OKX clients to gain access to assets by Franklin Templeton

As part of the collaboration, OKX clients will have access to onchain assets developed by Franklin Templeton’s digital assets team.

Escalating trade tensions and renewed uncertainty in global markets are driving investors toward alternative assets, including Bitcoin and tokenized real-world assets (RWAs), as concerns mount over the long-term stability of the financial system.

Global trade tensions continue pressuring investor sentiment despite US President Donald Trump announcing a 90-day pause on higher reciprocal tariffs on April 9, reverting the tariffs to the 10% baseline for most countries.

At the same time, Trump escalated his tariffs on Chinese goods from 104% to 125%, the Financial Times reported on April 9.

“President Trump’s tariff escalation marks a significant inflection point for global markets,” a move that signals “more than a trade disagreement,” said Teddy Pornprinya, co-founder of Plume, a layer-1 blockchain focused on tokenized real-world assets. He added:

With both the US and China facing what he described as unsustainable debt levels, Pornprinya warned of increased reliance on inflationary tools, including the potential depreciation of the Chinese yuan.

The largest publicly traded Bitcoin mining companies produced nearly $800 million worth of Bitcoin in the first quarter of 2025, reflecting continued growth across the sector as Bitcoin prices held near record highs.

According to publicly available data compiled by Cointelegraph, the top Bitcoin mining companies produced over 9,700 Bitcoin (BTC) in the first quarter. With Bitcoin trading at around $81,600 at the time of writing, the total production was valued at around $800 million. 

Marathon Digital, the biggest Bitcoin mining company by market capitalization, led the pack with 2,285 Bitcoin (worth roughly $186 million) mined in Q1. 

On April 3, Marathon announced that it produced 829 BTC in March, up 17.4% from February and 10.5% higher than January.

Related: Bitcoin miner Bitfarms secures up to $300M loan from Macquarie

Cosmos, a blockchain network aiming to become the “internet of blockchains,” has launched Eureka, an interoperability layer designed to link its inter-blockchain communication (IBC) protocol with Ethereum.

According to an April 10 announcement, Eureka has expanded the Cosmos IBC protocol, changing IBC from an ecosystem standard “to a universal interoperability protocol,” setting the hub on a course to become the home of multichain apps.

Cosmos projects are integrating into IBC Eureka. Source: Cosmos

With the introduction of Eureka, many Cosmos-based applications and blockchains are now accessible to more users by expanding IBC to the Ethereum network. With the new protocol, developers can reportedly build multichain apps across multiple ecosystems without fragmenting the user base.

Related: Cosmos co-founder proposes peer-to-peer clearing system in white paper

American stock exchange Nasdaq has filed an application with the United States Securities and Exchange Commission (SEC) to list and trade shares of the VanEck Avalanche Trust, a proposed exchange-traded fund (ETF) designed to offer indirect exposure to the AVAX token.

The filing, signed by Nasdaq’s executive vice president and chief legal officer John Zecca, requests approval to list and trade shares of the VanEck Avalanche ETF under the company’s Rule 5711(d), which governs the trading of commodity-based trust shares. 

If approved, the VanEck Avalanche ETF would allow investors to gain exposure to the Avalanche (AVAX) price without directly holding them. The ETF would hold the tokens and track their price, allowing investors to profit from the token’s performance without needing crypto wallets or using digital asset trading platforms. 

According to the filing, asset manager VanEck Digital Assets will sponsor the trust, while a third-party custodian will hold all the Avalanche tokens on the trust’s behalf. 

Excerpt of Nasdaq’s Avalanche ETF listing application. Source: Nasdaq

Bitcoin wasn’t supposed to just sit still.

When Satoshi Nakamoto released the white paper in 2008, it wasn’t a blueprint for digital gold; it was a peer-to-peer cash system. But fast-forward to today, and Bitcoin’s biggest critics and supporters alike often agree on one thing: It doesn’t really work like money, at least not yet.

In the latest episode of The Clear Crypto Podcast, hosts Nathan Jeffay and Gareth Jenkinson speak with Eli Ben-Sasson, the co-founder of StarkWare and one of the leading minds in cryptographic scaling. His message? That might be about to change.

Bitcoin’s three pillars

Ben-Sasson lays out a compelling framework for how Bitcoin can evolve — not by abandoning its principles, but by scaling them. He describes three core pillars that need to align in order for Bitcoin to fulfill its promise. 

Broadness, integrity and verifiability, according to Ben-Sasson, are concrete, technical targets for Bitcoin’s widespread adoption and useability. Not only that, but the tools to hit these targets already exist. 

Austrian fintech unicorn Bitpanda has secured its third license under the European Union’s Markets in Crypto-Assets Regulation (MiCA) framework, further expanding its regulatory footprint across the bloc.

Bitpanda announced on April 10 that it would receive a new MiCA license from Austria’s Financial Market Authority (FMA), its third after approvals from regulators in Germany and Malta.

Its latest approval marks “another step toward building the most regulated crypto platform in Europe,” the exchange said in an announcement on X.

Source: Bitpanda

MiCA, which took full effect on Dec. 30, 2024, is designed to provide a harmonized legal framework for crypto asset service providers (CASPs) across the EU. Despite this goal, Bitpanda’s pursuit of multiple licenses raises questions about how consistently MiCA is being interpreted and enforced across the bloc.

Key takeaways

AI tools like ChatGPT can help both experienced and new crypto investors track portfolios with ease, freeing up time for other investment activities and making the process more accessible.

Defining specific requirements, such as which cryptocurrencies to track and the desired data points, is essential for building an effective portfolio tracker tailored to your investment goals.

By combining ChatGPT with real-time crypto data from APIs like CoinMarketCap, you can generate valuable market commentary and analysis, providing deeper insights into your portfolio performance.Developing additional features like price alerts, performance analysis and a user-friendly interface can make your tracker more functional, helping you stay ahead of market trends and manage your crypto investments more effectively.

If you’re a cryptocurrency investor, you’ve clearly got a strong appetite for risk! Cryptocurrency portfolios involve many immersive stages, from desktop research on the profitability of cryptocurrencies to actively trading crypto to monitoring regulations. Managing a portfolio of cryptocurrencies can be complex and time-consuming, even for savvy investors. 

Conversely, if you’re a newbie in the world of cryptocurrencies and want to set yourself up for success, you may be put off by the complexity of it all. 

Tokenized gold trading volume surged to a two-year high this week, topping $1 billion as investors pivoted toward safe-haven assets amid global uncertainty triggered by US President Donald Trump’s import tariffs.

The weekly trading volume of tokenized gold surpassed the $1 billion mark for the first time since March 2023, when a US banking crisis saw the sudden collapse of Silicon Valley Bank and the voluntary liquidation of Silvergate Bank. Signature Bank was also forced to close operations by New York regulators on March 12, two days after Silvergate’s liquidation.

Tokenized gold has experienced a significant surge in trading interest since early February, when global trade war fears started spreading to digital markets, according to a CEX.io research report shared with Cointelegraph.

Top tokenized gold assets, trading volume. Source: CoinGecko, Cex.io

Since Trump’s first tariff announcement on Jan. 20, Paxos Gold (PAXG) trading volume has surged by over 900%, Tether Gold (XAUT) trading rose over 300% and Kinesis Gold (KAU) volume increased by more than 83,000%.

United Kingdom regulators are increasingly concerned about the impact of stablecoins and the broader crypto industry on the country’s financial system and monetary stability.

During Financial Policy Committee meetings held on April 4 and 8, regulators noted that while the current “interconnectedness of unbacked crypto asset markets with the real economy and financial sector is growing but remains relatively limited,” stablecoins and crypto markets have expanded significantly in the past year, drawing heightened regulatory attention.

The UK, its central bank and its local regulator, the Financial Conduct Authority, have been developing frameworks for stablecoins to ensure financial resilience. The committee claims to have determined the factors that make a stablecoin resilient:

The committee raised alarm over the “greater issuance of sterling offshore stablecoins with inappropriate backing assets.” This has implications for UK financial markets and “even with appropriate regulation, greater use of stablecoins denominated in foreign currencies could make some economies vulnerable to currency substitution,” the committee said.

Bank of England. Source: Wikimedia