While most market participants were resting, the cryptocurrency industry took a confident step forward. Singapore introduced an ambitious regulatory plan for stablecoins, and institutional money continues to flow into digital assets. I am breaking down the key events of the past 24 hours that will set the tone for the coming weeks.
Bitcoin and Altcoins: Bullish Sentiment Returns
The leading cryptocurrency demonstrated confident growth, reaching the $79,151 mark. Over the day, the asset gained 1.53%, although volatility persisted: the trading range was $77,700 – $79,200. Ethereum also showed positive momentum, rising 1.91% to $2,482. This indicates that buyers are gradually regaining control of the market.
Among the top-100 gainers, Arbitrum (ARB) stood out with an impressive jump of 28.88%. Curve DAO Token (CRV) and Dash (DASH) also distinguished themselves, adding 17.61% and 11.40%, respectively. Among altcoins in the top twenty, Uniswap (UNI) (+7.24%) and Zcash (ZEC) (+4.45%) looked confident. The only notable laggard was TRON (TRX), which lost 1.44%.
Institutional Inflows and a Shift in Sentiment
Spot crypto ETFs continue to attract capital. Over the day, bitcoin funds collected $216.7 million, while Ethereum-based products brought in $87.68 million. This confirms the growing appetite of institutional investors for digital assets. The Fear and Greed Index jumped to 69 points, returning to the "greed" zone. For comparison: a month ago, the indicator was at 27 points, corresponding to extreme fear. Such dynamics demonstrate a radical shift in market sentiment.
Over the past 24 hours, positions worth $146.24 million were liquidated. Notably, the main impact fell on short positions — $102.63 million versus $43.61 million for longs. This is a classic scenario for a rising market when short sellers come under pressure.
Regulatory News: Singapore Tightens Control
Singapore's central bank has proposed introducing a separate license for stablecoin issuers. The new rules would require companies to hold reserves of at least 100% of the issuance volume and would also ban the payment of interest to token holders. The regulator also intends to require issuers to conduct quarterly stress tests and implement mechanisms for freezing and burning tokens associated with illegal activity. This is a significant step toward legitimizing the sector, but it will create additional barriers to market entry.
Meanwhile, prediction platform Kalshi permanently blocked former congressman George Santos for market manipulation. He earned about $18,000 on bets about his own absence from President Trump's address to Congress, misleading the public. This is the first such case in the platform's history, highlighting the seriousness of its approach to maintaining trading integrity.
In another landmark event, 1789 Capital, a fund partnered with Donald Trump Jr., is investing an additional approximately $300 million into Polymarket. The fund's total investments will reach $500 million, making it one of the platform's largest investors. The funding round values Polymarket at $21 billion, with Intercontinental Exchange remaining the largest shareholder with a stake of about 22%.
My take: The market has clearly entered a recovery phase, but institutional flows remain the key driver. The tightening of stablecoin regulation in Singapore is a positive signal for the sector's long-term sustainability, although it may cause volatility in the short term. Attention should be paid to the $80,000 level for bitcoin: breaking through it will open the path to new highs.