The 50-day moving average, which has become a support level for the market and Bitcoin, has not proved an obstacle for Ethereum sellers, with its price falling back to 2.1K. The second-largest cryptocurrency has remained in a sell-off since the start of the month, encountering more significant resistance at the 200-week MA. Failure to break above this line is a new development for ETH. This is the fifth instance of a dip below this ultra-long-term curve, but previously, a reversal from lows signaled a sustained bull market.

Retail investor demand for Bitcoin has fallen by 73% over the last 30 days, CryptoQuant notes. The market structure continues to shift towards large capital, whilst small investors are gradually ‘disappearing from observable on-chain activity’.

The total market capitalisation of tokenised assets is set to reach $4 trillion by 2028, according to Standard Chartered Bank. The development of this market will facilitate wider adoption of decentralised finance (DeFi) protocols.

The Bitcoin-focused DeFi protocol Echo has suspended cross-chain operations following an attack on the Monad network bridge. The actual loss amounted to approximately $816,000.

Around 10% of adult US residents have used cryptocurrency for payments or invested in digital assets, according to a Fed report. In 2021, amid the crypto market boom, the figure reached 12%.