While the rest of the world deals with economic jitters and political drama, Bitcoin just keeps climbing (but gradually). It’s now sitting pretty at $85K.
No dramatic moves or flashy headlines. Just that slow, steady march upward that has long-term hodlers nodding with satisfaction.
But beneath that calm exterior, the crypto world is buzzing with activity. Some major players are making unexpected moves.
So what’s really going on? Let’s make sense of it all! Here’s a quick rundown of the top headlines from the past 24 hours:
- Bybit is aggressively shutting down its Web3 offerings by May 31st. Why is Bybit suddenly abandoning Web3?
- Mantra’s token collapse exposed a dangerous weekend liquidity crisis that affects all traders. So, crypto projects are always at risk of crashing like this?
- Someone just pulled a massive $1.26 billion in Bitcoin from Babylon’s staking protocol overnight. What’s really behind this sudden mass exodus?
- Bitcoin has frozen in place around $85,000 while economic turbulence intensifies around it. What’s keeping Bitcoin so steady while markets panic?
- Russia is developing homegrown stablecoins after U.S. sanctions crippled a major exchange. How will this affect the global stablecoin market?
Bybit’s Great Web3 Purge
Bybit is aggressively shutting down nearly all its Web3 offerings by May 31st.
Cloud Wallet, Keyless Wallet, NFT marketplace, DEX Pro, and their cross-chain Swap & Bridge widget are all on the chopping block. Their Web3 Points loyalty program, inscription marketplace, and fiat on-ramp will disappear even sooner – April 28th.
This dramatic restructuring follows their NFT marketplace closure earlier this month.
Why is Bybit suddenly abandoning Web3? Read the full story!
According to CMC – Q1 2025
TL;DR:
📉 Q1 2025: Total Market Cap Down 16.2%; Liquidity Slips
😨 Q1 2025: Dominated by Fear, Marked by Panic
🟠 Q1 2025: Altcoin Winter Deepens – Bitcoin Season Dominates
🧭 Q2 2025 Outlook: BTC Resilience, ETH Rebound Potential?
Despite Bitcoin staying steady above the $78K mark, market sentiment remained unusually negative – hinting at low trader confidence and expectations of a pullback.
Volatility surged across BTC and ETH, liquidity tightened, and altcoin interest waned.
But historically, moments of Extreme Fear have often marked prime accumulation zones.
Weekend Liquidity Crisis
Mantra’s token collapse uncovered a dangerous weakness in crypto markets that affects all traders.
OM token nosedived 88% last Sunday, plummeting from $6.30 to below $0.50 in hours. Beyond manipulation accusations, Bitget’s CEO pointed to a systemic issue – dangerously low weekend trading volumes.
This isn’t isolated. Even Bitcoin recently suffered a weekend correction below $75,000 when global traders had limited de-risking options.
So, crypto projects are always at risk of crashing like this? Read the full story!
Babylon TVL’s Sharp Decline
Someone just pulled a massive $1.26 billion in Bitcoin from Babylon’s staking protocol overnight.
Four addresses collectively unstaked 14,929 Bitcoin, with one single wallet withdrawing 13,129 BTC worth $1.1 billion. This exodus slashed Babylon’s total value locked by 32%.
What’s really behind this sudden mass exodus? Read the full story!
Bitcoin’s Suspicious Silence
Bitcoin has frozen in place around $85,000 while economic turbulence intensifies around it.
Despite Trump’s tariff threats and his declaration that “Powell’s termination cannot come fast enough,” Bitcoin barely moved while traditional markets wobbled.
The contrast between major cryptocurrencies grows starker – Bitcoin down just 9.3% year-to-date while Ethereum has crashed by 52%.
What’s keeping Bitcoin so steady while markets panic? Read the full story!
Russia Plans Its Own Stablecoins
Russia is developing homegrown stablecoins after U.S. sanctions crippled a major exchange.
A top Finance Ministry official announced the initiative after U.S. authorities and Tether froze $27 million linked to Russian exchange Garantex, forcing it to halt all operations.
The move fits into Russia’s broader crypto strategy, which includes a proposed government fund built from assets seized in criminal proceedings.
How will this affect the global stablecoin market? Read the full story!