Here’s a lowdown of the biggest events in the crypto world last week:
The Crypto Market is Still on a Low Battery 🔋
After last week’s market crash (yeah, the one Trump masterminded 🙄), another $19 billion was wiped out of the crypto market in one day. Every coin is feeling the effect and the crypto market still looks like it’s running on 5% battery.
Bitcoin has moved from around $110K to $117K and deeper down to $104K in the last 7 days, as the market mood is still in-between bullish and bearish. As of the time of writing, the Bitcoin price is now chilling at over $108K, but traders are still walking on eggshells.
But for analysts, there’s no meltdown. Instead, this is a “market detox” that has been ignited by excess leverage, thin liquidity, and Trump’s China tariffs — and overzealous degens have now been flushed out of the market.
Despite all the drama, long-term holders are still cashing out, and some experts believe this cleanup could set the stage for a rebound, especially if exchange-traded funds (ETFs) and institutions return the spark. For now, the charts are still blinking red and Bitcoin’s battery is still charging ⚡️.
Most altcoins are also in low-energy mode:
- Ethereum (ETH) has fallen below $4K
- Binance Coin (BNB) retracted on its run to $1,500
- Solana (SOL) has dipped below $200
Here’s a reminder that the patient ones get the best out of crypto, so these moments shouldn’t define your moves unless you’re taking advantage of the bear market. #WAGMI.
Japan’s Banking Giants said, “If You Can’t Beat Crypto, Join It.” 💵
Stablecoins are buzzing in Asia, and Japan is the latest country to catch the FOMO. According to reports, three of Japan’s top banks — Mitsubishi UFJ Financial Group (MUFG), Sumitomo Mitsui Financial Group (SMBC) and Mizuho Financial Group — are teaming up to launch a bank stablecoin.
Unlike popular stablecoins like Tether’s USDT and Circle’s USDC, this token is two-faced, with one side backed by Yen and the other by the Dollar. The aim is to create a stablecoin that can streamline corporate settlements, reduce cross-border payment fees, and build an interoperable token infrastructure across their collective client base of 300,000+ firms.
In short, traditional banks can’t ignore crypto’s rise and they’re doubling down on it. This could mean big changes for how money moves in Japan and beyond, if successful.
Disclaimer: This content may cause extreme FOMO (Fear of Missing Out). Side effects of investing include sudden wealth (or, you know, the opposite 😢).
Please do your own research (DYOR) or speak to your financial advisor before making any decisions.
