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A large pocket of Bitcoin supply is sitting just above the current market, and technical analysis shows that this area may decide the next major Bitcoin move.

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The US Dollar Index (DXY) is breaking out toward 101 after forming a double bottom on the daily chart. Historically, that move would have weighed on Bitcoin (BTC) price.

 

Ethereum is consolidating between $2,200 and $2,400 as the market searches for the catalyst or the structural confirmation that forces a decisive break in either direction.

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Lombard Finance, one of the largest Bitcoin-native liquid staking platforms in the DeFi ecosystem, reported that it will move more than $1 billion in Bitcoin-backed assets from LayerZero's infrastructure to Chainlink's Cross-Chain Interoperability Protocol (CCIP). Those responsible for the protocol confirmed that they will completely eliminate LayerZero from their interoperability architecture.