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The week’s wrapping up, and so is our look at the latest in interop: here’s everything you might’ve missed. LAUNCHES • @sedaprotocol kicks off incentivized testnet • @ArcanaNetwork rolls out Arcana Pay • Cross-Chain Data Bridge debuts via @axelar & @Filecoin ANNOUNCEMENTS

French court bans Pavel Durov from speaking in Oslo Telegram co-founder Pavel Durov was scheduled to attend the Oslo Freedom Forum in Oslo, Norway, but a French court has rejected his request to leave the country. The organizer, the Human Rights Foundation (HRF), said that Durov will deliver a keynote speech via online live broadcast. Durov previously publicly accused Nicolas Lerner, head of the French intelligence agency, of asking him to ban conservative political content before the Romanian presidential election. Durov refused to cooperate and said that this move "undermines democracy in the name of democracy." He emphasized that Telegram will not censor political speech in any market, and said that if it encounters forced censorship pressure, it will choose to withdraw from the relevant market. He said: "We did not block protesters in Russia, Belarus or Iran, and we will not do so in Europe." (Cointelegraph)

Arthur Hayes ignited discussion on May 24 when he tweeted about a $HYPE “cleanse.” The statement came after dramatic price increases for the token that began on May 23, when the value climbed as high as $37.24. As a result of the spike, several short positions were liquidated, and one position was said to have lost $23 million. Hayes’ remarks hinted that a large bullish trader might face liquidation, sparking speculation about future volatility. Hayes mentioned a “degen bull whale,” which probably refers to James Wynn, a pseudonymous trader who often takes high-risk strategies. The question arose about whether Wynn could be under pressure to adjust his exposure because of recent market turbulence. While there is a lot of volatility, $HYPE has maintained strong momentum, and Wynn has not liquidated his positions. The tweet was made after $HYPE’s success led to discussions about whether its rise could be maintained. Hayes mentions “cleanse,” referencing the elimination of bearish bets, the community debates whether this rally marks the start of further upside or sets the stage for a correction. James Wynn , known by wallet address 0x507, has placed significant bets on both memecoins and major tokens. His latest trade involves a $1.1 billion long position on Bitcoin perpetuals via the decentralized exchange Hyperliquid. Entered at around $109,000 per BTC, the position uses 40x leverage and was built from an initial margin of $400,000. Wynn increased his stake on May 21, pushing his position up while Bitcoin broke past $109,000. He took partial profits along the way, reducing exposure by hundreds of millions before rebuilding. Before turning into a loss, the trade had recorded possible profits of nearly $39 million. He has a net profit of around $14 million and a liquidation level near $95,805. Related: James Wynn’s Crypto Gamble: Will His Risky Moves Lead to a Massive Downfall? Analysts and traders continue to monitor his trades. His several partial sales were made before the market fell, leading some to speculate on whether his actions contribute to short-term volatility. Still, Wynn remains confident, as he usually adds more trades after a retracement. Wynn’s success came from making highly profitable trades of memecoins such as PEPE and Official Trump tokens. He once took an investment of only $8,524 from an early PEPE investment, which grew to more than $44 million. His strategy tends to join the market early, leveraging heavily and exiting partially after price spikes. He has recently focused more attention on newer tokens, including Moonpig (MOONPIG), which climbed 120% while he held a major stake. His bold trading strategies on platforms like Hyperliquid have made him a well-known figure in the crypto trading scene. Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.

The cryptocurrency market is buzzing, and all eyes are on Bitcoin as it continues its impressive run, recently hitting new all-time highs. Amidst this excitement, a significant technical indicator, the ‘Golden Cross,’ has emerged, capturing the attention of major players like Fidelity Digital Assets. But what exactly does this mean for the future of Bitcoin’s price, and why is a specific price level so crucial? In technical analysis, a Golden Cross is widely regarded as a strong bullish signal. It occurs when a short-term moving average crosses above a long-term moving average, typically the 50-day moving average crossing above the 200-day moving average. For Bitcoin, this pattern activated on April 7th, suggesting potential upward momentum. Why is this particular Bitcoin Golden Cross drawing so much focus? Because it often indicates a potential shift in market sentiment and can precede significant price rallies. However, the strength and validation of this signal often depend on subsequent price action. According to Chris Kuiper from Fidelity Digital Assets, the current Golden Cross could gain further strength and confirm its bullish implications if the Bitcoin price manages to hold above the $93,000 level. This $93,000 level likely represents a critical support zone, potentially aligning with key moving averages or previous resistance-turned-support levels. Maintaining the price above this threshold would reinforce the technical validity of the Golden Cross and suggest that the bullish trend has solid footing. As a major player in the institutional crypto space, the insights from Fidelity Digital Assets carry significant weight. Chris Kuiper’s commentary highlights their analytical approach, combining technical indicators like the Golden Cross with fundamental drivers. Fidelity’s view isn’t just about the technical pattern; it’s also tied to key price levels. While the $93,000 mark is seen as crucial for validating the Golden Cross, Fidelity also views the $110,000 level as a potential ‘launchpad’ for further gains. This suggests that breaking and holding above $110,000 could trigger the next leg up in Bitcoin’s price discovery, potentially accelerating the upward trend indicated by the Golden Cross. The fact that an entity like Fidelity Digital Assets is publicly discussing these technical and price levels underscores the increasing institutional acceptance and analysis of the cryptocurrency market using traditional financial tools and metrics. What’s fueling this optimistic outlook from institutions like Fidelity? A primary driver is the consistent and significant flow of capital into Bitcoin investment products, particularly Crypto ETF inflows. The introduction of spot Bitcoin ETFs in various markets has provided traditional investors with a regulated and accessible way to gain exposure to Bitcoin without the complexities of direct ownership. These ETFs have seen steady and substantial inflows since their launch, absorbing a significant portion of the newly mined Bitcoin supply and even drawing from existing holdings. Key drivers behind these robust Crypto ETF inflows and the broader institutional appetite include: While institutional interest and investment via avenues like ETFs are surging, it’s noteworthy, as U.Today reported, that retail participation has remained relatively limited compared to previous bull cycles. This dynamic suggests that the current rally is heavily institutionally driven, which can impact market structure and volatility differently than a retail-fueled surge. Since the activation of the Golden Cross on April 7th, the Bitcoin price has seen a remarkable increase of approximately 33%. This powerful upward move propelled Bitcoin to a new all-time high of $111,814. However, like any volatile asset, Bitcoin experienced a pullback, dropping to around $108,622 at the time of the report. This recent dip was partially attributed to rising U.S.-EU trade tensions, illustrating how broader macroeconomic and geopolitical factors can still influence the crypto market, even amidst strong underlying bullish trends. This highlights an inherent challenge for investors: navigating Bitcoin’s price movements requires not only understanding crypto-specific factors but also keeping an eye on the global economic landscape. Key price levels to watch based on the analysis include: The ability of the Bitcoin price to sustain itself above key technical and psychological levels will be critical in determining the short-to-medium term trajectory. The increasing focus on Institutional Bitcoin investment is not just a current trend; it’s a fundamental shift that could shape the market for years to come. As more large funds and corporations allocate portions of their portfolios to Bitcoin, the market gains deeper liquidity and potentially reduced volatility over the long term (though short-term swings remain likely). For readers interested in this space, understanding the drivers and impact of Institutional Bitcoin investment is key. These large players often have longer investment horizons and perform extensive due diligence, which can lend credibility to Bitcoin as an asset class. Their continued entry, facilitated by products like ETFs and the insights provided by firms like Fidelity Digital Assets, could provide sustained buying pressure independent of retail sentiment. While the path won’t be without its pullbacks and challenges, the structural change brought about by significant institutional adoption suggests a maturing market with potentially larger upside potential over time, supported by strong technical signals like a validated Golden Cross. Fidelity Digital Assets’ focus on the Bitcoin Golden Cross and the critical $93,000 level underscores the growing intersection of traditional financial analysis and the cryptocurrency market. Coupled with robust ETF inflows and increasing institutional interest, the outlook appears bullish, contingent on Bitcoin holding key support levels. While recent price action has seen Bitcoin pull back slightly from its all-time high, the underlying drivers, particularly from the institutional side, remain strong. The $110,000 level is eyed as a potential catalyst for the next phase of growth. As the market evolves, monitoring both technical indicators and the flow of institutional capital will be essential for understanding Bitcoin’s future trajectory. To learn more about the latest Bitcoin market trends, explore our article on key developments shaping Bitcoin institutional adoption . Disclaimer: The information provided is not trading advice, Bitcoinworld.co.in holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

Whale follows $20.4M $WBTC sale with $15M $AAVE purchase A whale that sold 184.4 WBTC ($20.4 million) through Wintermute OTC yesterday has shifted focus to AAVE, purchasing $15 million worth of the token via the same trading desk today, according to on-chain analyst @EmberCN on