Crypto exchange XeggeX has been hacked, preventing users from logging into their personal accounts

Bitcoin (BTC) continues to follow the trajectory of its 2017 cycle. Despite recent market turbulence, driven by escalating tariff tensions between the U.S and its neighbouring countries, as well as China. Bitcoin remains up approximately 525% from its cycle low during the FTX collapse in November 2022. Comparatively, at the same stage in the 2017 cycle, bitcoin had risen 533%.See all newslettersWhile, another method for evaluating bitcoin’s cyclical behavior is by measuring returns from previous all-time highs. The last cycle's market peak occurred in April 2021 at approximately $64,000, although in nominal terms, bitcoin’s all-time high was $69,000 in November 2021. However, many on-chain indicators suggest that April 2021 marked the cycle’s true top. Despite ongoing geopolitical tensions, bitcoin has demonstrated remarkable consistency in tracking previous cycles.In addition, bitcoin (BTC) has remained range-bound within a $90,000 to $109,000 channel for the past 2.5 months, even amid heightened market volatility. Bitcoin continues to test both the upper and lower bounds of its current trading channel. Meanwhile, previous CoinDesk research identified $91,000 as a local bottom for bitcoin.

Bitcoin (BTC) hashrate has reached another all-time high, with seven-day moving average jumping to 833 exahashes per second (EH/s), according to Glassnode data. This represents a 9% increase from 767 EH/s in the past few days.According to Miner Mag, pre-orders for mining hardware have begun to decline following the pre-halving surge. Many mining firms had stocked up on equipment in anticipation of this event, ensuring their operations remained competitive; however, analysts now expect a slowdown in hashrate growth.See all newslettersHashrate measures the computational power used to secure the bitcoin network through mining, and a higher hashrate signifies greater network security.According to The Miner Mag, the network has seen a significant rise in hashrate over the past 18 months, driven largely by institutional investment in mining infrastructure.The surge was ahead of bitcoin’s April 2024 halving, which occurs approximately every four years and reduces the block reward by 50%. Since the halving, the hashrate has increased by more than 40%, indicating continued expansion in mining operations.The rise in hashrate has coincided with mining profitability remaining relatively flat in recent months. One primary reason for this is historically low transaction fees, which have reduced miner earnings.In the bitcoin mempool, a high-priority transaction costs just 5 sat/vB ($0.69)—one of the lowest fee levels in recent years. With fewer transactions generating fees, miners are earning less from transaction fees, making it harder to offset operational costs.The bitcoin network’s long-term economic model relies on transaction fees gradually replacing the block subsidy as the primary source of miner revenue, but the current market dynamics pose challenges to this model.Looking ahead, the next difficulty adjustment is scheduled in four days and is projected to increase by over 6%, taking it to an all-time high and putting further pressure on miners. Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy.

BTC has declined, with a trading volume of $102.7 billion in the past 24 hours and a circulating market value of $1.96 trillion, representing a 0.43% decrease in market capitalization. Data for reference only

Anthony Scaramucci, who served as President Donald Trump's communications director for less than a week in 2017, said he expects pro-crypto regulation to be drafted in the U.S. by November.The founder of investment firm SkyBridge Capital made the prediction in an appearance at the Digital Assets Forum in London and went on to explain why in an interview with the Financial Times.See all newsletters"[If] I'm running for re-election to Congress, I'm subjected to a two-year term, and if I don't want to be opposed by the crypto industry, I want to be out on my front foot proposing positive crypto regulation," he told the FT. "So ... their campaigns have to start no later than March 2026. We're talking one year from today."That means pro-crypto legislation is likely to be included in the rush of legislative activity that typically occurs before the congressional Christmas recess, he said."You'll probably get it in November of this year, before that recess."Having courted the industry during his campaign with promises of being a pro-crypto president, Trump issued an executive order for the establishment of policies that put digital assets on a solid footing in the U.S.Despite being naturally supportive of any administration that would achieve this, Scaramucci has been an outspoken critic of the president, and referred to him as an "insane lunatic" and "unwell" in the interview.Scaramucci also described Trump's official memecoin, TRUMP, as "bad for the industry." TRUMP spiked to nearly $73 the day after its launch on Jan. 18 and has fallen by over 76% since."It'll scare people, it'll make people think that the industry is a scam," he said.Scaramucci did, however, add that TRUMP proved the value of the Solana blockchain, given the huge trading activity could be seen as a stress test for possibilities of tokenizing bonds or stocks."If we're really gonna tokenize things, one of the ways to test the rail system is through memecoins, whether it's DOGE or TRUMP," he said. "I think it's helpful ... I don't like it, but that's one of the positives of it."

Click on the link to enter the live broadcast room: https://meeting.tencent.com/dm/wmCXM4vY3rqv Good evening everyone, I am Qin Chuan! The internal strategy group of the short-term king has been established, and after this round of decline, the trend has become clearer. The so-called incomprehensible market has already passed, so the subsequent trend structure will be better able to provide accurate strategy information! Yesterday, both strategies in the communication group were perfectly profitable. When others are afraid, I am greedy! Today we enter the live broadcast room to play with short-term trading thinking! The market is constantly changing, with opportunities and risks coexisting. We hope everyone operates cautiously and invests rationally! Thank you all for your attention! Tencent Meeting ID: 773-6824-7259 QQ group number: 941511824 Disclaimer: The above content only represents the author's personal opinion and is for communication and sharing purposes only. It does not represent the position or viewpoint of AiCoin and does not constitute any investment advice. Based on this investment, there may be external contacts, which have nothing to do with AiCoin, and the consequences shall be borne by oneself.