Mike McGlone of Bloomberg Intelligence said Bitcoin could lead a future decline in risk assets, after having led their gains during periods of expanding liquidity. He also warned that cryptocurrencies and gold remain heavily dependent on stock-market movements.
Binance’s BTC reserves have risen to approximately 693,000 BTC, their highest level in two years, accounting for about 30% of major exchanges’ total BTC reserves. CryptoQuant contributor Darkfost said the increase may reflect transfers intended for selling, while noting that exchange reserves also include custody and internal transfers.
White House Crypto Council Secretary General Patrick Witt denied claims that community banks were excluded from negotiations over the CLARITY Act’s stablecoin compensation provisions. He said major banking associations and individual banks were consulted during the months-long process.
Unrealized losses on U.S. spot Bitcoin ETFs have fallen from about $18 billion in February to roughly $3.9 billion, bringing investors closer to break-even. Glassnode identified the $86,000 average purchase price as a key resistance zone.
Coinbase CEO Brian Armstrong said Bitcoin may have formed a cycle bottom and expects the market could return to an uptrend over the next one to two years. He also discussed U.S. crypto regulation and potential growth areas for the industry.
IonQ has unveiled its 256-qubit Superion 256 platform, but the technology is not currently considered capable of threatening Bitcoin’s security. The company estimates that about 20,000 physical qubits would be needed to attack Bitcoin’s secp256k1 signatures.
ARK Invest founder Cathie Wood expects more blockchain networks to emerge and highlighted the importance of comparing how each chain scales, generates revenue and attracts users.
U.S. Treasury Secretary Scott Bessent urged the Senate to continue advancing the CLARITY Act, which would establish a comprehensive regulatory framework for digital assets. He warned that failure to advance the bill could undermine U.S. leadership and national security measures related to digital assets.
Steak ’n Shake said same-store sales have grown at a double-digit rate since it began accepting Bitcoin payments in May 2025. Same-store sales at franchise partner locations rose 19% this quarter.
