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Crypto

Crypto exchange closures may signal market bottom, Tom Lee says

A series of cryptocurrency exchange shutdowns could be a sign the market is near a bottom, Fundstrat co-founder Tom Lee said. His comments followed BitMart’s decision to end its trading platform and BitMEX’s plan to halt operations this year. Lee maintained a long-term optimistic view on ethereum, comparing its evolution potential to growth inflection points seen at Amazon, Nvidia and JPMorgan, and reiterated a $250,000 long-term target.

Crypto

Ethereum on-chain metrics improve, but CryptoQuant says bottom not yet confirmed

Ethereum is trading about 17 percent below its realised price, a level that has often coincided with undervaluation and prolonged bottoms, CryptoQuant said. Relative metrics versus bitcoin have also improved, with lower exchange inflows, stabilising ETF holdings and softer ETH/BTC spot volume. But only 2 of 5 key bottom indicators have reached past reversal levels. Binance withdrawals hit a three-year high and 34 percent of supply is staked.

Crypto

U.S. CLARITY Act gains momentum, bitcoin stretches higher

Bitcoin rose above $66,000 to its highest in a month, with expectations of easing regulatory uncertainty after signs of progress on the U.S. CLARITY Act. U.S. spot bitcoin ETFs recorded net inflows for five straight sessions, totaling $727.3 million. Reports said the White House agreed on an ethics provision, though the Senate vote remained uncertain. Macro factors, stablecoin use cases and security issues also drew attention.