Zcash (ZEC) has outperformed major cryptocurrencies like Bitcoin and Ethereum, rising 3% to trade at $588. This surge is driven by the Zcash Foundation's strong Q1 financial report, showing $36.7M in assets and progress on network upgrades. Technical indicators remain bullish, with traders eyeing a potential move toward the $641 resistance level.
Trump Media's Truth Social has withdrawn its spot Bitcoin ETF registration with the SEC, citing a strategic shift toward '40 Act structures. While the sponsor claims this allows for more differentiated strategies, analysts suspect intense fee competition, particularly from Morgan Stanley's low-cost entry, made the original plan unviable.
Bitcoin Rally Nears Key Resistance as Bearish Risks Return
Yorkville America Digital has withdrawn its application to launch Truth Social-branded crypto ETFs, citing a strategic shift in regulatory framework. The move ends months of speculation as the sponsor pivots from the Securities Act of 1933 to the Investment Company Act of 1940. The decision comes amidst a crowded market dominated by giants like BlackRock and Fidelity, posing significant challenges for new entrants.
Bitcoin rose slightly to $77,200 following a narrow Senate vote to limit presidential war powers on Iran, while implied volatility reached a new low for 2026.
Iran reportedly launched Hormuz Safe, a Bitcoin-based insurance for ships in the Strait of Hormuz, aiming for $10 billion in yearly revenue.
Bitcoin sentiment on social media has turned negative as prices fell below $77,000, with the Positive/Negative ratio dropping to 0.94. While this indicates slight bearish dominance, historical trends suggest such contrarian signals may precede a rebound. Meanwhile, large holder wallets have increased by 11.2% over the past year.
Cryptocurrencies including Bitcoin, ether, and XRP saw a rebound, with Bitcoin reaching approximately $77,200. This surge coincided with falling Treasury yields and oil prices, alongside news of the Senate limiting presidential war powers regarding Iran.
Spot Bitcoin ETF Products Record $649M in Net Outflows, Largest Since January
ETH ETF inflows lag behind BTC at 33% recovery versus 66%, as institutional caution persists due to ongoing DeFi security concerns despite Bitcoin's faster rebound.

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