Bitcoin Struggles at $80K Despite Network Surge

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By Shikha Singh

Bitcoin Struggles at $80K Despite Network Surge.

Bitcoin is facing resistance below the $80,000 level despite a surge in network activity. The hashrate recently reached an all-time high, and daily on-chain transactions remain strong.

Analysts point to a potential consolidation zone between $80,000 and $85,000, with bears defending these levels.

At the same time, Bitcoin’s growing transaction count and active addresses suggest healthy network usage. However, traders remain cautious, citing macroeconomic uncertainties and technical indicators showing overbought conditions.

A breakout above $85,000 could spark renewed bullish momentum, while a drop below $77,000 may lead to short-term downside.

WLFI Moves $775K for Altcoin Buys, Plans Stablecoin.

World Liberty Financial (WLFI) moved $775,000 in USDC to a wallet typically used for altcoin acquisitions. The move follows prior purchases of MNT and AVAX, and WLFI now holds a diverse portfolio including ETH, WBTC, LINK, and more.

The group also partnered with the Sui blockchain to develop DeFi applications and announced plans to launch “USD1,” a new stablecoin backed by U.S. Treasuries and dollar deposits. This stablecoin will launch on Ethereum and Binance Smart Chain, targeting institutional and sovereign investors.

Base Leads DeFi, Optimism Dominates Cross-Chain.

Base has emerged as the leader in decentralized exchange (DEX) transactions, significantly outpacing competitors. Meanwhile, Optimism has seen a surge in cross-chain transfer volume, handling $410 million in one day, nearly 40% of the total value moved across major chains.

Optimism’s interoperability with Ethereum layer-2 solutions has enhanced its role in liquidity movement. Base’s dominance in DeFi transactions, combined with Optimism’s strong performance in cross-chain volume, signals a shift in the market as these platforms gain traction due to faster, more efficient solutions.

Dogecoin ETF Sparks Corporate Adoption and Institutional Push.

The Dogecoin Foundation is pushing for broader adoption with the filing of a Dogecoin ETF by 21Shares. This development marks a pivotal moment for Dogecoin as a serious financial asset. The ETF aims to offer investors direct exposure to Dogecoin’s market performance.

Alongside this, the Foundation is collaborating with corporate partners to promote Dogecoin in various sectors, such as a partnership with the House of DOGE for a race car sponsorship. By focusing on institutional trust and using innovative marketing strategies, the foundation aims to solidify Dogecoin as a mainstream financial instrument. This move comes as Dogecoin sees growing market interest, with the price hovering around $0.15.

BTC-Denominated Life Insurance Firm Raises $40 mn.

Meanwhile, a life insurance company offering Bitcoin-denominated whole life insurance has raised $40 million in a Series A funding round. The firm, regulated by the Bermuda Monetary Authority, aims to offer financial products that mitigate risks such as inflation, political instability, and currency fluctuations. The funding round was co-led by Fulgur Ventures and Framework Ventures, with additional backing from Bitcoin pioneer Wences Casares. The company plans to expand its global operations, helping millions of people access long-term financial protection using Bitcoin. The move signals growing institutional support for cryptocurrency-backed financial services and products.

Australia Trials Blockchain for Age Verification and Social Media Restrictions.

The Australian government is exploring blockchain technology to enhance age verification processes and enforce social media restrictions.

A pilot program has been launched to test blockchain’s effectiveness in securely verifying users’ ages, aiming to prevent minors from accessing age-restricted content online. Additionally, the technology is being evaluated for its potential to enforce compliance with social media usage regulations.

By utilizing blockchain’s immutable and transparent features, the initiative seeks to create a more secure and trustworthy digital environment, addressing growing concerns over online safety and content accessibility.

Standard Chartered and OKX Launch Crypto-Backed Tokenized Collateral Pilot in Dubai.

Standard Chartered and OKX have initiated a pilot program in Dubai to offer crypto-backed tokenized collateral services.

This collaboration aims to provide institutional clients with the ability to use cryptocurrency holdings as collateral for traditional financial transactions, bridging the gap between digital and fiat financial systems.

The pilot leverages blockchain technology to tokenize crypto assets, ensuring transparency and security in collateral management. If successful, the initiative could pave the way for broader acceptance of cryptocurrencies in mainstream financial operations, particularly in the Middle East’s burgeoning crypto market.

Framework Ventures and Fulgur Ventures Co-Lead $40 mn Series A for Bitcoin Life Insurance Startup.

Framework Ventures and Fulgur Ventures have co-led a $40 million Series A funding round for a startup offering Bitcoin-denominated life insurance products.

The company, regulated by the Bermuda Monetary Authority, aims to provide financial products that address risks such as inflation and currency fluctuations by leveraging Bitcoin’s unique properties.

The funding will be used to expand global operations and enhance product offerings, signaling growing institutional interest in integrating cryptocurrency solutions within traditional financial services. This investment highlights the potential of blockchain technology to transform the insurance sector.

Bitcoin Miners Scurry to Import Mining Equipment Following Trump’s China Tariffs.

After President Trump’s new tariffs on Chinese goods, Bitcoin miners are rushing to import mining equipment to mitigate rising costs. The tariffs have driven up the price of essential mining hardware, especially ASIC (Application-Specific Integrated Circuit) machines, which are key for efficient Bitcoin mining. With these increased costs, miners are now seeking ways to secure equipment from non-Chinese sources or expedite imports before further tariff hikes. This shift in sourcing strategies is part of a broader trend where miners are adjusting to a volatile geopolitical and economic landscape, ensuring the profitability of their operations in the face of global trade tensions.

Bitcoin Miners Scurry to Import Mining Equipment Following Trump’s China Tariffs.

After President Trump’s new tariffs on Chinese goods, Bitcoin miners are rushing to import mining equipment to mitigate rising costs. The tariffs have driven up the price of essential mining hardware, especially ASIC (Application-Specific Integrated Circuit) machines, which are key for efficient Bitcoin mining. With these increased costs, miners are now seeking ways to secure equipment from non-Chinese sources or expedite imports before further tariff hikes. This shift in sourcing strategies is part of a broader trend where miners are adjusting to a volatile geopolitical and economic landscape, ensuring the profitability of their operations in the face of global trade tensions.

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