Here is what happened yesterday in the crypto market:
Crypto Markets Stage Recovery After $500B Crash
After a turbulent weekend that saw crypto markets shed over $500 billion, a significant recovery is underway. Bitcoin and altcoins like Ethereum, BNB, and Dogecoin are leading the rebound, with the total crypto market capitalization surging past $4 trillion again. This recovery follows a period of extreme volatility triggered by various factors, including speculation around Trump’s tariff announcements and high leverage in the market. Despite the crash, digital asset investment products surprisingly attracted $3.17 billion in new capital last week, indicating sustained institutional interest. Read more
Major Institutions Show Confidence, Buying the Dip
In a sign of continued institutional confidence, several large players utilized the recent market downturn as a buying opportunity. BitMine Technologies, the largest ether treasury company, aggressively added over 200,000 ETH to its holdings, valued at $828 million. Similarly, MicroStrategy, the world’s largest corporate owner of Bitcoin, expanded its BTC accumulation, although some reports indicate their purchase was made before the crash at $123k. These moves suggest that institutional investors view the dip as a chance to accumulate assets at a discount. Read more
Ethereum’s Fusaka Upgrade and Ongoing US Government Shutdown Impact Crypto
The coming week brings a positive development for Ethereum with the planned Fusaka upgrade application to the Sepolia testnet. However, broader market concerns persist due to the continued U.S. government shutdown, now in its third week. This shutdown is delaying approvals for several Exchange-Traded Funds (ETFs), with as many as 16 awaiting resolution. The regulatory uncertainty stemming from political impasses could continue to influence market sentiment. Read more
Citi Plans 2026 Crypto Custody Launch After Years of Development
Financial giant Citi is set to launch crypto custody services in 2026, a significant move that will enable the bank to hold native digital assets like Bitcoin and Ethereum for its clients. This announcement, coming after years of quiet development, underscores the increasing mainstream adoption and institutional validation of cryptocurrencies. This development could pave the way for greater institutional participation in the crypto market. Read more
Bitcoin Mining Stocks Lead Crypto Recovery, Fueled by AI Deal
Bitcoin mining stocks were among the fastest to recover from Friday’s market rout, buoyed by the red-hot artificial intelligence (AI) data center trade, particularly following the OpenAI-Broadcom deal. Companies like Bitfarms (BITF) and Cipher Mining (CIF) saw significant bounces. This trend highlights the growing convergence between the crypto mining industry and the AI sector, suggesting new avenues for growth and investment. Read more