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Right this moment’s prime information:
- Crypto majors rally as Trump extends ceasefire indefinitely; BTC +2% at $78.3k
- Coinbase quantum report says ETH and SOL extra in danger than Bitcoin
- Kalshi and Polymarket each tease perps launches on similar day
- New York’s AG sued Coinbase and Gemini over their prediction market merchandise
- USD AI’s CHIP token debuts and soars to $800M fdv
📈 Bitcoin Hits 11-Week Excessive as Trump Extends Iran Ceasefire Indefinitely
Bitcoin climbed above $78,000 Wednesday morning, its highest degree in 11 weeks, after President Trump introduced he would prolong the Iran ceasefire indefinitely, reversing his earlier assertion that it will expire Wednesday.
Trump cited Tehran’s authorities as “significantly fractured,” and mentioned the extension would stay in place till Iran’s management submits a “unified proposal” to finish the warfare. The announcement got here after Iran refused to ship negotiators to a second spherical of talks in Islamabad and studies surfaced that Vice President Vance’s deliberate journey to Pakistan had been placed on maintain.
Markets reacted shortly. BTC was up roughly 2.2% over 24 hours and 5% on the week by Wednesday morning, with quick sellers caught on the incorrect facet – roughly $240 million in leveraged shorts have been liquidated. ETH was up 3% to $2,390 on a stable day of ETF inflows ($43M). Inventory futures are opening inexperienced as properly.
On-chain indicators are turning constructive for the primary time in months. Bitcoin’s Web Unrealized Revenue/Loss metric turned optimistic for the primary time since early January, which analysts learn as affirmation the bearish development has ended. And whales are apparently accumulating on the quickest tempo since July 2025.
Robust momentum beginning to construct for crypto’s flagship asset…
🏛️ Warsh Faces Senate Over Crypto Holdings, Fed Independence
Kevin Warsh appeared earlier than the Senate Banking Committee on Tuesday for his affirmation listening to as Trump’s nominee to switch Jerome Powell as Federal Reserve chair.
The listening to coated three fundamental areas: his relationship with Trump on rates of interest, his broader financial coverage views, and his monetary disclosures (which embody stakes in Solana, Polymarket, Tenderly, and different crypto and DeFi funds).
- On charges, Warsh mentioned Trump “by no means requested me to predetermine, commit, repair, determine on any rate of interest determination in any of our discussions, nor would I ever agree to take action.” He pushed again on options he would merely minimize charges on demand, calling himself an “impartial actor” and saying he would “completely not” function anybody’s political instrument.
- On inflation, he mentioned the trajectory is “bettering, however there’s extra work to do.” He desires a smaller Fed steadiness sheet, much less reliance on quantitative easing, and fewer post-FOMC press conferences – noting that “truth-seeking is extra essential than repetition.”
Markets didn’t like it. The hawkish undertone despatched crypto shares decrease. COIN fell 6%, HOOD 4.5%. BTC slid towards $75K.
However 21Shares analysis strategist Matt Mena argued the learn could also be too short-term. Warsh has spent years publicly arguing the Fed retains charges too excessive primarily based on lagging information, and his direct publicity to digital belongings — he views bitcoin as “the brand new gold for individuals below 40” — makes him essentially the most crypto-friendly Fed Chair nominee in historical past.
If he eases in H2 2026, analysts say that the liquidity setting might push BTC again towards $100K.
⚛️ Coinbase: Proof-of-Stake Has a Quantum Drawback Bitcoin Doesn’t
Coinbase’s Impartial Advisory Board printed a quantum danger report Tuesday with a discovering that’s getting much less consideration than BIP-361 however arguably issues extra. And the priority impacts Ethereum and Solana essentially the most.
Proof-of-stake chains like Ethereum and Solana use cryptographic signatures to safe consensus. A sufficiently highly effective quantum laptop operating Shor’s algorithm might break these signature schemes.
Not like Bitcoin, the place the quantum danger is primarily about uncovered pockets public keys, PoS chains face a further assault floor: the core consensus mechanism itself. Compromise one-third of Ethereum validators and the community can’t finalize transactions. Two-thirds and an attacker can rewrite chain historical past.
Coinbase’s board mentioned plainly: “the problem for proof-of-stake isn’t simply upgrading wallets; elements of the core consensus mechanism itself might have to be redesigned.” No present quantum laptop can do that, but. However the “harvest now, decrypt later” risk means the planning window is now, not when Q-Day arrives.
📊 Kalshi and Polymarket Launch Perps
Kalshi introduced on Tuesday that it’s planning to launch perpetual futures throughout crypto and different belongings. By afternoon, Polymarket introduced the identical, saying “We’ve priced the longer term – now you possibly can really commerce it.”
Unbelievable lockstep between these 2 prediction market giants, as soon as once more (even their announcement hype movies appeared the identical).
Kalshi’s launch is codenamed “Timeless,” goes stay April 27 in New York, and begins with BTC perpetuals utilizing USD as collateral. Kalshi’s edge right here is leveraging its CFTC licenses and a margin buying and selling approval secured final month.
Polymarket’s early-access waitlist is stay at polymarket.com/perps, and so they’re teasing perps throughout belongings like BTC, NVDA, and gold with as much as 10x leverage.
Notably, this comes at a time when the CME and Hyperliquid are leaning into launching prediction markets. It seems the prediction markets are combating again…
🏴☠️ Scammers Are Charging Bitcoin for Hormuz Secure Passage
Who had crypto getting tied up in a Strait of Hormuz rip-off on their bingo card?
Greek maritime danger agency MARISKS warned Monday that unknown actors posing as Iranian authorities have been contacting delivery corporations stranded west of the Strait of Hormuz, demanding Bitcoin or USDT in change for “transit clearance.”
The fraudulent messages advised ships that Iranian Safety Providers will assess your eligibility, then pay the payment in BTC or USDT, and your vessel can transit at a pre-agreed time.
MARISKS mentioned it believes a minimum of one vessel paid the fraudulent payment—after which was fired on whereas making an attempt to transit anyway. The rip-off mirrors an actual coverage that Iran proposed again in March, that they’d cost BTC/USDT transit tolls of roughly $1 per barrel.
🌎 Macro Crypto and Markets
- Crypto majors are very inexperienced after Trump prolonged the Iran ceasefire indefinitely; BTC +2% at $78.3k; ETH +3% at $2,390; SOL +3% at $88; HYPE flat at $41
- PENGU (+11%), M (+6%), and SKY (+5%) led prime movers
- Oil +4% at $90; Gold -1% at $4,760
- Inventory futures are inexperienced once more, up 0.5%
- A four-star admiral and head of US Indo-Pacific Command advised the Senate on Tuesday that Bitcoin has vital potential as a nationwide safety asset
- Tron founder Justin Solar filed a federal lawsuit towards World Liberty Monetary in California court docket Tuesday, alleging the Trump-backed mission froze roughly $776 million price of his WLFI tokens, stripped his voting rights, and threatened to burn his holdings after he declined to maintain investing
- New York AG Letitia James sued Coinbase and Gemini Tuesday over their prediction market merchandise, calling them unlawful playing operations below state legislation
- DoorDash will pay its supply staff in stablecoins throughout 40+ nations utilizing Stripe and Paradigm’s Tempo blockchain, which launched its public mainnet in March
- Jefferies analyst Andrew Moss warned Tuesday that the $293M Kelp DAO exploit might immediate Wall Road corporations to sluggish or pause their blockchain and tokenization plans as they reassess infrastructure danger
Company Treasuries & ETFs
Meme Coin Tracker
- Meme leaders have been inexperienced on the day; DOGE +3%, SHIB +2%, PEPE +3%, TRUMP +4%, BONK +5%, PENGU +11%, SPX +10%, FARTCOIN +2%
- MAGA (+130%), Peace (+30%), Spike (+30%), and Playing cards (+30%) led notable movers
- Meteora’s MET token jumped 30% to $100M
💰 Token, Airdrop & Protocol Tracker
- USD AI launched its CHIP token, which soared to $800M fdv in its debut
- AAVE has now seen $15B in outflows because the KelpDAO exploit
- MegaETH confirmed the three extra apps are launching this week, that means 9 of the ten required to launch per their KPIs have launched (TGE coming after the tenth)
🚚 What is occurring in NFTs?
- NFT leaders have been very inexperienced with Bored Apes main the weay; Punks +5% at 28.1 ETH, Pudgy +5% at 4.46 ETH, BAYC +16% at 9.14 ETH; Hypurr’s even at 386 HYPE
- BAKC (+16%) and MAYC (+9%) led notable movers
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