Bitcoin Bounced To $72,000, But Glassnode’s Data Tells A Very Different Story

The Bear Market Zone

Bitcoin remains within bear market territory according to key on-chain pricing models. 

The realized price at $54,000 represents the average acquisition cost of all circulating supply. The True Market Mean at $78,000 narrows this calculation to only actively transacted coins.

Price trading within this band is historically consistent with a market that has not transitioned into a sustainable recovery. 

Bitcoin also trades below the Short-Term Holder Cost Basis at $81,600, the level at which recent buyers collectively break even.

Until price reclaims $81,600, the mid to long-term bias tilts to the downside. Any rally into this zone will likely encounter meaningful…

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Bitmine Joins NYSE With $4 Billion Buyback But Stock Slips 2% On Debut Day – BitMine Immersion Technologi

Bitmine Immersion Technologies (NYSE:BMNR) began trading on the New York Stock Exchange on Thursday and expanded its share repurchase authorization to $4 billion from $1 billion, yet shares slipped 2% on debut day.

The NYSE Uplisting

Bitmine moved from the NYSE American to the New York Stock Exchange, where shares ceased trading on the NYSE American at Wednesday’s close.

“Today, Bitmine achieved a major milestone by being uplisted to the ‘Big Board’ NYSE. The NYSE is the most prestigious stock exchange with a storied history,” Chairman Tom Lee said.

The $4 Billion Buyback

Bitmine’s board unanimously approved an increase to its 2025 share repurchase authorization from $1 billion to…

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SEC, Treasury Officials Urge Congress To Pass Crypto Market Bill

Three prominent voices in finance, crypto, and policy urged Congress this week to move quickly on the Clarity Act, a long-awaited bill to define how cryptocurrencies and blockchain-based financial products operate under U.S. law.

Treasury Secretary Scott Bessent called for the Senate Banking Committee to advance the legislation to President Trump’s desk, saying that Congress has spent years debating a framework to “onshore the future of finance.”

“Senate time is precious, and now is the time to act,” Bessent said on social media, echoing points from his Wall Street Journal op-ed that argued U.S. leadership in global finance depends on clear, durable digital-asset…

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Bitcoin Depot Reports $3.7 Million Stolen In Wallet Security Breach

Bitcoin Depot disclosed that hackers stole about $3.7 million in bitcoin from company-controlled wallets after gaining access to internal credentials tied to its crypto settlement accounts.

The Nasdaq-listed crypto ATM operator said in an SEC filing on Wednesday that it detected unauthorized access to parts of its IT systems on March 23. The company said the attacker gained control of credentials linked to its digital asset settlement accounts and transferred out about 50.9 bitcoin, valued at roughly $3.66 million at the time of the theft.

Bitcoin Depot said the breach was limited to its corporate environment and did not affect customer platforms, systems or data.

“Upon…

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How A Trump Meme Coin Dinner, Ethics Fight Threaten The Clarity Act

The Memecoin Dinner Problem

Sens. Elizabeth Warren (D-Mass.), Adam Schiff (D-CA), and Richard Blumenthal (D-NY) pressed Bill Zanker, Trump’s longtime business partner behind the TRUMP meme coin, for details on a planned Mar-a-Lago conference on April 25 for the token’s biggest investors. Trump is listed as a featured guest.

Trump already committed to attend the White House Correspondents’ Dinner on April 25, while White House officials previously said they had not yet scheduled the meme coin dinner.

“Organizers are promoting a conference by dangling access to President Trump to potential attendees (and in doing so, are encouraging purchases of his meme coin that will generate…

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Morgan Stanley’s Bitcoin ETF Debuts With $34 Million In Volume

Morgan Stanley has entered the spot bitcoin ETF market with the launch of its Bitcoin Trust (MSBT), adding a major new issuer to an increasingly competitive field defined by fee pressure, shifting flows, and institutional positioning.

The fund debuted with roughly $30.6 million in net inflows and about $34 million in trading volume, offering an early signal of demand from the bank’s vast wealth management network. MSBT carries a 14 basis point fee, undercutting many existing products and reinforcing a broader trend toward lower costs across the sector.

Despite the launch, U.S. spot bitcoin ETFs recorded about $94 million in net outflows on Wednesday. Large redemptions from…

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Bithumb Seeks Asset Freeze To Recover Bitcoin From $40B Error

South Korean crypto exchange Bithumb has begun legal action to recover bitcoin distributed in error during a February promotional event, escalating a dispute with a small group of users who have refused to return the funds.

According to a report from local outlet Chosun Biz, the exchange has filed for a provisional seizure to freeze accounts holding roughly 7 BTC, valued near $500,000. The measure allows a court to secure assets before a civil lawsuit proceeds and signals that formal litigation may follow.

The incident traces back to Feb. 6, when Bithumb intended to distribute 620,000 Korean won in rewards to 249 users. A staff member entered “BTC” instead of “KRW,”…

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Solo Bitcoin Miner Defies 1-in-100,000 Odds To Win $222K Block Reward

A solo bitcoin miner on the Bitcoin network has defied steep odds to successfully mine a block, securing the full reward of 3.128 BTC, valued at roughly $222,000 at current prices.

The miner solved block 944,306 early Thursday using CKpool in a solo configuration, according to data from mempool explorers. The payout consisted of the standard 3.125 BTC block subsidy, worth about $221,800, along with 0.003 BTC in transaction fees, adding roughly $212 to the total.

CKpool developer Con Kolivas confirmed the win, noting the miner operated with about 70 terahashes per second (TH/s) of computing power. That level of hashpower represents a fraction of the network and is comparable to a…

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Canary Bets Big On PEPE: Memecoin ETF Filing Adds To Crypto Momentum

The asset manager submitted a Form S-1 to the U.S. Securities and Exchange Commission (SEC) on Wednesday for the CANARY PEPE ETF, which would directly track the token’s price by holding PEPE in custody. The filing also noted that up to 5% of the fund’s assets may be allocated to Ethereum (ETH) to cover transaction fees on the Ethereum network.

The move comes despite PEPE’s volatile track record and concentrated ownership structure. The token—based on the Pepe the Frog meme—rose to prominence in 2024 but remains about 85% below its all-time high.

Key features and takeaways:

The filing also lands amid an evolving regulatory backdrop in the U.S., with uncertainty around crypto…

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Standing Outside In The Cold

Revolutions leave behind artifacts. Sometimes they end up in museums. Sometimes they spend a decade in a suitcase. Kolin Burges became one of the defining figures of Bitcoin’s first financial crisis when he flew from London to Tokyo in February 2014 and stood outside the offices of Mt. Gox — then the world’s largest Bitcoin exchange, handling an estimated 70–80% of global Bitcoin trading volume — with a hand-lettered cardboard sign reading “MTGOX — WHERE IS OUR MONEY?” Day after day, in the snow, he held that sign while international media gathered and the exchange’s leadership scrambled to contain the fallout. Mt. Gox filed for bankruptcy shortly after, revealing…

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