CMC Market Pulse: The Mass Depeg
BTC -4.12%, ETH -7.83%. Market cap slides to $2.07T as msY, sUSD, and MIM all break pegs in the same week. Strategy overhang continues to weigh on crypto.
Let's break down this week's top crypto narratives
LATEST: 📊 CryptoQuant CEO Ki Young Ju says Bitcoin does not look close to a cycle bottom, noting that every major cycle has seen its price touch the realized price before bottoming — something that hasn't happened yet.
LATEST: 🇺🇸 The Trump administration is easing pressure on the Fed to cut rates as PCE inflation hits 4.1%, with a White House official telling CNBC that Trump has "confidence and faith" in Kevin Warsh.
LATEST: 🇺🇸 17 Democratic senators are urging the Senate Appropriations Subcommittee to block CFTC Chair Michael Selig from using federal funds to sue state authorities over prediction market oversight.
LATEST: 🇦🇺 Australia's ASIC has extended its no-action period for crypto licensing to Sept. 30, giving digital asset businesses three more months to apply.
LATEST: 🐳 Four Ethereum wallets dormant for 8 years sold 33,623 ETH at ~$1,560 per coin, per Lookonchain — locking in ~$27.4M in profit but missing out on their $150M+ peak.
LATEST: ⚡ Michael Saylor says Strategy remains "focused on Bitcoin, disciplined capital allocation, credit quality, and long-term value creation" amid MSTR and STRC volatility.