Bitcoin is trading above $80,000 as the market prepares for what is shaping up to be a decisive directional move. The recovery from the recent correction has been meaningful — but a CryptoQuant report has identified the specific mechanism that prevented the decline from becoming considerably worse, and understanding it changes how the current price level should be read.
Bitcoin pulled back from this week's $81,500 high after U.S. forces fired on Iranian targets, while crypto futures markets logged their 67th straight day of negative funding rates, the longest streak in a decade per K33 Research.
UBS Group reported indirect exposure to XRP through 197,369 shares of the Volatility Shares XRP ETF. The financial entity also recorded a minor position of 317 shares in Grayscale's XRP-dedicated fund. The announcement coincides with successful redemption tests of U.S. Treasury funds natively tokenized on the XRP Ledger.