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According to data from a recent on-chain evaluation, the Bitcoin mining sector is once again flashing warning signals, as a key industry health metric now hovers above historically critical levels. In this scenario, the Bitcoin price stands a chance to regain past grounds, but only if a specific pattern plays out. Bitcoin Miner Financial Stress Approaches Capitulation Levels Seen In Past Cycles  On Saturday, April 18th, MorenoDV put out a Quicktake post on the CryptoQuant platform, revealing an ongoing dynamic shift among Bitcoin miners. The relevant indicator here is the Miner Financial Health Index 7D-SMA metric, which tracks the short-term…

Bitcoin’s quantum debate keeps slipping sideways because people keep arguing about two different things at once. One question is technical: if quantum computing gets good enough to break Bitcoin’s signature scheme, the protocol can respond. New address types, migration rules, soft forks, deprecations, key rotation. That is a real engineering problem, but it is still an engineering problem. The other question is legal: suppose someone uses a quantum computer to derive the private key for an old wallet and sweep the coins. What, exactly, just happened? Did he recover abandoned property, or did he steal someone else’s bitcoin? In April…

As readers of this newsletter may be aware, Congress has spent the past few months debating market structure legislation, but crypto policy discussions encompass so many more issues than just the one: taxes, decentralized finance regulations, the midterm election, states and so much more. CoinDesk’s Consensus Miami conference next month is going to examine each of these issues in depth.You’re reading State of Crypto, a CoinDesk newsletter looking at the intersection of cryptocurrency and government. Click here to sign up for future editions.This newsletter has noted in the past how significant policy changes around digital assets have become. Last year…

El Salvador President Nayib Bukele sits atop a global leader approval chart with a 94% rating, far outpacing every other head of state on the list. The ranking measures approval for 26 world leaders. Bukele’s dominance highlights a striking detail for the crypto industry. The president who went furthest on sovereign Bitcoin (BTC) adoption is also the most popular leader on Earth right now. The Bitcoin President Still Stacks Daily El Salvador became the first country to make Bitcoin legal tender in 2021. The government continues purchasing roughly one BTC per day, pushing its national reserve past 7,600 BTC. El…

Ethereum is flashing a combination of technical and on-chain signals that analysts say could be the beginning of a meaningful recovery. For the first time in months, the structure of Ethereum’s price action appears to be shifting in the favor of bulls. The latest price action has brought the ETH price back above $2,300, setting up a structure that says the next leg is about to start. Related Reading Technical Levels Reset, Analyst Flags Breakout Conditions Crypto analyst Ash Crypto drew attention to Ethereum’s price action this week, pointing to three developments that, taken together, suggest the groundwork for a…

They say journalists never truly clock out. But for Christian, that’s not just a metaphor, it’s a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn. Christian’s journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved…

Stablecoin issuer Tether, the company behind USDt (USDT), said Thursday it will back a $150 million recovery program for the Drift Protocol decentralized exchange (DEX) following an exploit of the platform in April.The recovery plan for the $280 million Drift Protocol exploit includes $127.5 million from Tether, with the rest coming from undisclosed partners, according to Tether’s announcement. Tether said:“Rather than relying on upfront capital alone, the structure links funding and recovery to ongoing trading activity on the Drift platform, allowing user balances to be restored as the exchange returns to normal operations.”The Drift Protocol platform will “contribute directly” to…

In brief Cardano founder Charles Hoskinson says the latest Bitcoin improvement proposal won’t be able to save all the Bitcoin vulnerable to quantum computing. The proposal would block, then freeze old coins, across three phases before a potential recovery could take place for those that missed deadlines. Hoskinson says at least 1.7 million coins, from before 2013, would still be at risk of being stolen. A new Bitcoin improvement proposal dubbed BIP-361 seeks to save as much as 34% of Bitcoin’s supply—or more than 7 million coins valued at $536 billion—by freezing coins that don’t migrate to quantum-resistant addresses in…

Ordinals (ORDI) posted a 94% single-day gain on April 16, pushing directly into its first major Fibonacci resistance zone. The move follows months of base-building and a falling wedge breakout visible across multiple timeframes. A massive volume surge accompanied the advance, driving price from the $2.00 range to above $6.60. ORDI is now testing the 0.382 Fibonacci retracement at $6.488 after opening the session at $3.444. Volume Explosion Drives ORDI Into Fibonacci Resistance The daily chart shows a prolonged downtrend that stretches back to the all-time high. A Fibonacci retracement runs from the May 14, 2025 high of $13.61 to…

An appellate court is expected to reach a decision after hearing arguments from Kalshi and lawyers representing the state of Nevada.Some legal experts speculated that the state vs. federal jurisdiction battle over regulating prediction markets companies could soon be headed to the United States Supreme Court.On Thursday, the US Court of Appeals for the Ninth Circuit heard oral arguments from lawyers representing prediction markets platform Kalshi and Nevada authorities over the state’s ban on the prediction markets’ event contracts. The appeal was over a lower court decision preventing Kalshi from offering certain event-based contracts in Nevada, based on claims that…