Retail brokerage Robinhood's business has gotten a boost from prediction markets, though its crypto trading revenue fell in Q1.
Three cryptocurrency wallets, mintblade, GRIMDRIP, and EndlessFate, collectively profited $24.25 million from World Cup prediction markets before consolidating their winnings to a single Binance deposit address. This raises questions about potential single-trader control and the source of their success.
The prominent MEV bot Jaredfromsubway.eth lost over $7.5 million due to an exploit involving attacker-controlled contracts tricking its automated systems into granting token approvals. This marks a rare instance of an MEV bot being targeted, as they typically profit from manipulating blockchain transactions.
Bitcoin's network activity is at its strongest since late 2024, driven by a surge in small transactions and data-related use cases like Runes and Ordinals. Despite this increased usage, the price of Bitcoin has fallen significantly this year, creating a divergence between network demand and market value.
Bitcoin (BTC) may reach a new "macro bottom" between $50,000 and $60,000 by September, according to trader Killa. This prediction is based on the potential for BTC to "front run" exchange order-book liquidity, similar to how it previously front-ran higher liquidity levels. Aggressive shorting on Binance also suggests a bearish short-term outlook.
Bitcoin and Ethereum prices are falling, leading to increased bearish sentiment on prediction markets. Odds favor dumps to $55,000 for BTC and $1,500 for ETH, with traders anticipating no rate cuts this year and potential hikes.
Bitcoin nears a potential bottom between $60,000-$70,000 as nearly 20% of its supply is concentrated in this range, indicating a redistribution phase. However, a bearish technical pattern suggests a risk of falling to $53,500 if key resistance isn't reclaimed.
