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Crypto

Ceasefire, ETFs and Tesla earnings set crypto market test this week

The cryptocurrency market, which rebounded last week, could return to a volatile phase this week as Middle East geopolitical risks and spot bitcoin ETF fund flows converge. Attention is focused on whether bitcoin can hold around $74,000, a level tied to the average purchase price of spot ETFs. Investors are also watching macroeconomic data, corporate earnings including Tesla, U.S. regulatory deadlines and multiple token unlock schedules.

Crypto

Grayscale to switch custodian for HYPE spot ETF from Coinbase to Anchorage

Grayscale plans to change the custodian for its Hyperliquid spot exchange-traded fund from Coinbase to Anchorage Digital Bank, reflecting the move in an amended S-1 filing with the U.S. SEC. Bank of New York Mellon will remain the transfer agent, and the fund will keep its CoinDesk benchmark rate. Grayscale said staking would be included subject to regulatory approval. The move comes as Coinbase dominates custody for most U.S. spot bitcoin ETFs.

Crypto

Bitcoin slips back to $74,000 as Strait of Hormuz risk resurfaces

Bitcoin, which rose last week, slid back into weakness as geopolitical concerns pushed it down to around $74,000. Cointelegraph reported that renewed worries about a U.S.-Iran war and reports Iran could reclose the Strait of Hormuz unsettled oil markets and spread selling across cryptocurrencies. Long liquidations increased in derivatives markets, with total crypto liquidations of $260 million over 24 hours, CoinGlass data showed.