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Ether has struggled to break out of its long-standing trading range, with hedge fund short positioning playing a key role in capping its price movement, according to analysts.Despite strong trading volume and recent surges in activity, structural weaknesses and competition from alternative networks have left ether vulnerable to ongoing bearish sentiment, an analyst said.
Federal Reserve Chair Powell’s testimony on February 11 will provide critical insights into monetary policy, potentially affecting market sentiment. The U.S. Consumer Price Index (CPI) report on February 12 will influence expectations regarding interest rate cuts and crypto price movements. Bitcoin remains in a narrow range between $95,000 and $100,000 as traders await economic data that could trigger significant volatility.
Quick Take Commodity Futures Trading Commission (CFTC) Commissioner Summer K. Mersinger said that election event contracts on platforms like Kalshi are “here to stay.” Mersinger’s comments come after the CFTC clashed with Kalshi over whether the platform’s contracts over election results could lead to political interference. In September 2024, a federal judge ruled that the CFTC overstepped its authority in attempting to block Kalshi from listing these contracts.
Quick Take Donald Trump-backed World Liberty Financial is forming a strategic token reserve meant to “to bolster leading projects like Bitcoin, Ethereum and other cryptocurrencies that are at the forefront of reshaping global finance.” The DeFi platform’s reserve, dubbed Macro Strategy, will serve to help World Liberty Financial diversify its holdings, according to an announcement. World Liberty Financial also said it is “engaging” with financial institutions in the hopes they will contribute tokenized ass
Quick Take U.S. President Donald Trump plans to tap Brian Quintenz, head of global policy at a16z crypto, to chair the agency. Quintenz served as a commissioner of the CFTC from 2017 to 2021.
- 06:57Cardano Founder: Audit Report to Be Released in AugustAccording to Jinse Finance, Cardano founder Charles Hoskinson stated that the initial draft of Input Output Global (IOG)'s ADA holdings audit report has been completed and is expected to be publicly released in mid-August. Hoskinson plans to provide a detailed explanation of the report via livestream and is considering taking legal action against false accusations. Previously, some community members questioned IOG's handling of $619 million worth of ADA tokens during the 2021 hard fork. Hoskinson emphasized that IOG has never held 350 million unclaimed ADA, and the remaining tokens have been donated to the Intersect organization. Currently, ADA is priced at $0.8389.
- 06:47PlayCat IDO addresses exceed 10,000According to Odaily Planet Daily, on-chain data shows that the PlayCat IDO event, which began on July 19, attracted donations from over 15,000 unique addresses.According to an official tweet from Soneium, PlayCat is the first meme project based on the Sony public blockchain.
- 06:37Analysis: Pi Network Token (PI) Faces Price Pressure and Short-Term WeaknessAccording to ChainCatcher, citing TokeNews, data shows that the price of Pi Network (PI) has dropped 0.73% in the past 24 hours, currently trading at $0.43–$0.44. Over the past 24 hours, more than 2 million PI tokens have flowed into exchanges, increasing market supply by 0.25%. Technical indicators show that although the MACD has formed a bullish crossover, the RSI remains in the oversold zone at 35.85, indicating significant short-term downward pressure. This month, Pi Network plans to unlock 233 million tokens. If market demand does not rise accordingly, selling pressure may intensify further. The project team stated that they will accelerate mainnet and ecosystem application development to boost market confidence.