🔍Macro Pressures and Liquid Network Exploit Dampen Bitcoin Momentum

Bitcoin's price stands at $78,472, reflecting a 24-hour decline of -0.82%. This minor downward movement indicates a period of short-term consolidation and cautious sentiment as Bitcoin struggles to maintain its footing below the psychological $80,000 threshold. The marginal decline reflects broader market hesitation, where traders are absorbing macroeconomic signals and technical resistance rather than panicking, keeping the digital asset in a defensive trading range. A confluence of security breaches and macroeconomic pressures heavily weighs on market dynamics. The massive $320 million hack of the Bitcoin-based Liquid Network exposes structural vulnerabilities in Layer-2 infrastructure, even with the perpetrators claiming white hat status. Concurrently, unexpectedly strong US employment data has reignited fears of sustained monetary tightening, directly impacting liquidity. This combination of protocol-level security risks and hawkish macro expectations dampens investor appetite for risk assets. - Structural security concerns highlighted by the $320 million Liquid Network exploit test investor confidence in scaling solutions. - Robust US jobs data shifts macroeconomic expectations toward tighter monetary policy, creating direct downward pressure on crypto valuations.

Crypto industry groups escalate fight against Illinois, asking court to block controversial crypto tax

Crypto industry groups escalate fight against Illinois, asking court to block controversial crypto tax

Two cryptocurrency industry groups representing a slew of digital asset firms are escalating their legal fight in Illinois over its controversial crypto tax.On Wednesday in a Circuit Court in Sangamon County in Illinois, the Blockchain Association and the Crypto Council for Innovation filed a motion…

Trade groups seek to block Illinois crypto tax before January effective date

Trade groups seek to block Illinois crypto tax before January effective date

The Crypto Council for Innovation (CCI) and Blockchain Association (BA) are seeking to block Illinois from enforcing a 0.2% tax on cryptocurrency transactions before it takes effect in January 2027.The trade groups said Wednesday that they have filed a motion for a preliminary injunction in the Circ…

German finance ministry proposes 25% crypto tax starting 2028: Report

German finance ministry proposes 25% crypto tax starting 2028: Report

The German Federal Ministry of Finance reportedly issued a draft proposal to transition cryptocurrency trading profits to the standard 25% flat-rate tax starting in 2028.The ministry’s proposal would apply to all crypto assets acquired after Jan. 1, 2027, according to a draft proposal seen by local …

Gemini receives Singapore payment license for crypto services

Gemini receives Singapore payment license for crypto services

Crypto exchange Gemini has received a Major Payment Institution (MPI) license from the Monetary Authority of Singapore (MAS), completing its transition from the in-principle approval granted nearly two years ago.On Wednesday, Gemini said MAS awarded the license to Gemini Digital Payments Singapore, …

Iran Eases Currency Rules to Boost Crypto Trade Amid US Sanctions

Iran Eases Currency Rules to Boost Crypto Trade Amid US Sanctions

Iran is loosening its strict foreign exchange rules as U.S. sanctions make normal international payments harder. The new approach allows businesses to use Bitcoin, Tether, and other digital assets for cross-border trade.This comes as the U.S. and other nations have frozen or blocked around $1 billio…