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    Core Scientific Q1 Loss Hits $347M As Mining Revenue Falls

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    Core Scientific Q1 Loss Hits 7M As Mining Revenue Falls

    Core Scientific (CORZ) reported a $347.2 million first-quarter net loss as its Bitcoin self-mining revenue fell sharply and high-density colocation became its largest revenue source. 

    In its earnings report published Wednesday, the company reported a net loss of $1.06 per diluted share for the quarter. A year earlier, Core Scientific reported diluted earnings of $1.24 per share.

    Core Scientific said the loss included $266.5 million in non-cash impairment charges and a $30.8 million non-cash loss from changes in the fair value of warrants and contingent value rights.

    Revenue rose to $115.2 million from $79.5 million a year earlier, but fell short of analyst expectations. Zacks Equity Research said analysts expected $120.2 million in revenue, with Core Scientific’s results coming in about 4.1% below expectations.

    The results show Core Scientific’s transition from a Bitcoin miner into an AI infrastructure company, with high-density colocation now generating most of its revenue. The shift gives the company a larger business, but it also highlights how its legacy mining operations have weakened.

    Bitcoin mining revenue falls

    Core Scientific’s digital asset self-mining revenue fell to $30.1 million from $67.2 million a year earlier, with the company mining 279 Bitcoin (BTC) during the quarter, down 45% from the same period in 2025. According to its 10-Q filing, Core Scientific sold 2,385 Bitcoin during the quarter for $208.3 million to fund planned capital expenditures and other cash needs.

    Core Scientific’s six-month price chart. Source: Yahoo Finance

    Despite the weaker mining results, Core Scientific’s shares have gained over the past six months. Yahoo Finance data shows CORZ closed at $24.63 on Wednesday, up about 19.6% over six months, before falling 7.43% to $22.80 in pre-market trading at the time of writing.

    In a separate announcement, Core Scientific said it plans to scale its Muskogee, Oklahoma, campus to about 1.5 gigawatts of gross power, or about 1.0 gigawatt of leasable power, partly through the planned acquisition of Polaris DS. The company has also started construction on a second, unleased 82.5-megawatt building at the campus.

    Related: Trump-linked American Bitcoin reports $82M Q1 loss, revenue miss

    Core Scientific expands AI-linked colocation business 

    Core Scientific’s first-quarter growth came from high-density colocation rather than Bitcoin production, with the company’s mining revenue and Bitcoin output falling while its AI-linked hosting business generated most of its revenue.

    The company said its colocation revenue rose to $77.5 million in the first quarter from $8.6 million a year earlier, driven by additional billable customer power capacity delivered during the quarter.

    The company said it was billing for 243 megawatts of capacity as of March 31, representing about $350 million in average annualized colocation revenue.

    The revenue shift follows a series of hosting agreements with CoreWeave. In June 2024, Core Scientific said it signed 12-year contracts to deliver about 200 megawatts of infrastructure to host CoreWeave’s high-performance computing operations. 

    The companies later expanded the relationship. In an SEC filing in February 2025, the companies said CoreWeave’s total contracted high-performance computing infrastructure with Core Scientific had increased to about 590 megawatts across six sites.

    Magazine: Guide to the top and emerging global crypto hubs: Mid-2026

    Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.

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    Aave Liquidates Kelp DAO Hacker’s rsETH Collateral, $30M Recovered

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    Aave Liquidates Kelp DAO Hacker’s rsETH Collateral, M Recovered


    Timothy Morano
    May 07, 2026 04:36

    Aave liquidates Kelp DAO hacker’s rsETH collateral on Ethereum and Arbitrum, recovering $30M. DeFi United inches closer to restoring rsETH backing.

    Aave Labs has successfully liquidated the Kelp DAO hacker’s remaining rsETH collateral across Ethereum and Arbitrum, recovering approximately 13,000 ETH worth $30.2 million. This liquidation represents a significant milestone in the DeFi United recovery effort aimed at restoring the backing for Kelp DAO’s restaked ETH (rsETH) token and compensating affected users.

    The Kelp DAO exploit on April 18, which involved the minting of unbacked rsETH tokens, resulted in $293 million in losses. The attacker used these tokens as collateral on Aave to borrow wrapped Ether (wETH), creating over $190 million in bad debt and triggering a wave of withdrawals. Aave’s total value locked (TVL) plummeted by $12 billion in the days following the breach, though data from DeFiLlama indicates that Aave’s TVL has since stabilized, recovering to over $15 billion as of May 6.

    DeFi United, which is spearheading the recovery of rsETH, has now closed 90% of the gap required to fully back the token, according to Thaddeus Pinakiewicz, VP of Galaxy Digital’s research team. However, an additional 30,765 ETH remains frozen by Arbitrum DAO, currently subject to legal proceedings. Aave has filed an emergency motion to lift a restraining notice placed on these funds by the U.S. law firm Gerstein Harrow LLP. Meanwhile, Arbitrum DAO’s governance vote on whether to release the frozen ETH is ongoing, with over 90% of participants reportedly in favor. Voting is set to conclude on May 8.

    Market Context: rsETH and DeFi Recovery

    rsETH, a liquid restaking token launched by Kelp DAO in 2023, allows users to restake Ethereum or liquid staking tokens (LSTs) and earn additional rewards while maintaining liquidity. The recent exploit has shaken confidence in the token and the broader DeFi ecosystem.

    As of May 7, rsETH is trading at $2,415.32, reflecting a 3.18% decline over the past 24 hours. Its market cap stands at $1.39 billion, underscoring the token’s importance in the DeFi space despite the exploit’s fallout. Aave’s swift liquidation of the hacker’s collateral is seen as a critical step toward restoring trust in both rsETH and the wider DeFi market.

    Pinakiewicz highlighted that DeFi United is seeking commitments from key stablecoin issuers, including Circle, Ethena, and Frax, as well as Kraken’s Ethereum Layer 2 project, Ink, to finalize the recovery plan. “These commitments are essential to plug the remaining hole and fully restore rsETH’s backing,” he said.

    Aave’s Resilience Post-Exploit

    While the Kelp DAO exploit significantly impacted Aave, the protocol’s insurance mechanism, Umbrella, was not engaged during the liquidation process. Aave has reassured users that no direct funds were affected, a move likely aimed at maintaining user confidence.

    Following the exploit, Aave has taken a proactive approach to mitigate further risks and stabilize its platform. Net outflows have eased in recent weeks, and the protocol’s TVL has rebounded from a local low of $14.2 billion to over $15 billion.

    The recovery of $30 million from the hacker’s collateral provides a financial boost to DeFi United’s efforts and signals a turning point in the aftermath of one of 2026’s most significant crypto exploits. However, the legal and governance hurdles surrounding the frozen ETH on Arbitrum could still pose delays to a full recovery.

    All eyes are now on Arbitrum DAO’s final vote and the outcome of Aave’s emergency court motion. A resolution on these fronts could pave the way for a more robust recovery of rsETH and potentially restore market confidence in liquid restaking tokens.

    Image source: Shutterstock


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    Iran Peace Deal Talk Costs Bitcoin a Trip to $83,000 After New 13-Week Highs

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    Iran Peace Deal Talk Costs Bitcoin a Trip to ,000 After New 13-Week Highs

    Bitcoin (BTC) cooled from new 13-week highs at Wednesday’s Wall Street open amid mixed signals over a US-Iran peace deal.

    Key points:

    • Bitcoin stops short of tapping $83,000 as momentum becomes guided by geopolitical developments.
    • Oil sees flash volatility around rumors of the Strait of Hormuz opening.
    • Bitcoin trader sees a price reset to a $78,400 trend line.

    Iran deal let-down sours Bitcoin’s attack on $83,000

    Data from TradingView showed a new local peak for BTC/USD of $82,833 on Bitstamp.

    BTC/USD one-hour chart. Source: Cointelegraph/TradingView

    The pair made fresh gains amid reports of a 14-point ceasefire agreement potentially coming into effect — one that would include resumption of oil traffic through the Strait of Hormuz.

    Hours later, however, US President Donald Trump said that Iran’s agreement to the terms of the truce was “perhaps, a big assumption.”

    “If they don’t agree, the bombing starts, and it will be, sadly, at a much higher level and intensity than it was before,” he added in a post on Truth Social.

    Source: Truth Social

    Bitcoin reacted by erasing its upside to circle $81,500 at the time of writing, still up around 1% on the day.

    Oil also saw volatility, with WTI dropping over 10% in a matter of hours before rebounding to $96 per barrel.

    CFDs on WTI crude oil one-hour chart. Source: Cointelegraph/TradingView

    Commenting on X, trading resource The Kobeissi Letter reported what it called “unusually large” short interest on WTI, which totaled nearly $1 billion, immediately before the drop.

    Light crude oil futures chart. Source: The Kobeissi Letter/X

    BTC price focus switches to $78,000 and higher

    Bitcoin traders, meanwhile, looked to patches of potential liquidations on exchange order books for clues as to where price might head next.

    Related: Bitcoin can crash to $50K if ‘most critical’ bear market test fails: Analysis

    “Above, the $82.4K area still has some left. But price did take out most of the local liquidity from the past day. With price at 3 month highs, we would need to zoom out to see the other major levels,” trader Daan Crypto Trades told X followers. 

    “Below, the $80.1K & $78.2K levels are good to watch if price were to trade into them.”

    Crypto liquidation history (screenshot). Source: CoinGlass

    Data from CoinGlass put total crypto liquidations over the past 24 hours at more than $550 million, with shorts accounting for $400 million of the total.

    Trader CrypNuevo called BTC/USD “overextended” on short time frames, seeking a retracement to the 50-period simple moving average (SMA) on the four-hour chart. That stood at $78,432.

    “Ideally it continues pushing straight higher without any exhaustion signs and it will overextend price even more so the short will be more atractive and worth it when we see those signs at higher prices,” he wrote on X.

    BTC/USD four-hour chart with 50SMA. Source: Cointelegraph/TradingView

    Earlier, Cointelegraph reported on concerns that historical precedent called for the failure of Bitcoin’s current breakout attempt.

    This article is produced in accordance with Cointelegraph’s Editorial Policy and is intended for informational purposes only. It does not constitute investment advice or recommendations. All investments and trades carry risk; readers are encouraged to conduct independent research.

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    Stablecoin Industry Opposes Bank of England’s Unhosted Wallet Ban

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    Stablecoin Industry Opposes Bank of England’s Unhosted Wallet Ban

    As the UK considers options to attract and develop the crypto industry at home, the Bank of England (BOE) has put forward several proposals for how it might regulate stablecoins to mitigate perceived financial risks.

    These have included a ban on custodial wallets for stablecoin holdings. The UK crypto industry, from stablecoin issuers to Bitcoin hardliners, has predictably taken issue with the ban.

    “This would be a serious misstep for the UK, risking long-term damage that is hard to unwind,” said Benoit Marzouk, CEO of stablecoin issuer tGBP told Cointelegraph.

    Ban could hamper operability and competitiveness 

    At the heart of the BOE’s approach to stablecoins, which it recently discussed in a series of inquiries before the House of Lords, is protecting the UK banking system. 

    The bank argues that unhindered access to stablecoins, which can offer higher yields than traditional banking products, could lead to a run on deposits, and therefore on credit availability from UK banks. 

    In March, Bank of England Deputy Governor Sarah Breeden told the House of Lords Financial Services Regulation Committee that BOE is “open to other ways of achieving the objective” of credit availability. 

    Breeden speaks before Parliament. Source: Parliament 

    “But I think you would expect us as the financial stability authority to ensure that there isn’t a precipitous drop in credit to the businesses and households in the UK,” she said.

    One way it believes it can affect this is through banning unhosted wallets. “There is this concept of an unhosted wallet, where you haven’t got a wallet provider who is a regulated entity ensuring that AML [Anti-Money Laundering], KYC [Know Your Customer] criteria are complied with. Unhosted wallets will not be permissible in the UK. They are permissible in the US regime,” Breeden told the committee. 

    For the crypto industry, it would be two steps backward. According to Marzouk, it would “wipe out hard-earned network effects.”

    “If transfers are limited to registered VASPs or custodial wallets, existing GBP stablecoins […] would become in breach of regulations with holding on self-hosted or issuers would be forced into whitelisting models and re-issuing new tokens.”

    Related: UK central bank is warming up to stablecoins, but says industry input is lacking

    Joey Garcia, chief strategy, policy, and regulatory affairs officer at Xapo Bank, told Cointelegraph that, instead of being an update to the financial system, “this ban essentially restricts any attempt to understand and mitigate the perceived risks.”

    “This would be interpreted as a signal of a hostile regulatory environment, discouraging developers and investment in the UK’s fintech sector.”

    Marzouk said that it also undermines an important use case for stablecoins, namely remittances. Under the BOE’s regime, “recipients couldn’t access funds unless fully onboarded with a regulated exchange.” 

    Source: ORF America

    “A plane without wings is no longer a plane. Likewise, a stablecoin or blockchain asset that can only be transferred to a predefined list of wallets is not truly blockchain, it is effectively e-money within a closed ecosystem and then you don’t need a separate regulation.”

    Garcia also said that the utility of stablecoins would be diminished as they “derive much of their value from the ability to be held and transferred on a peer-to-peer basis on open networks.”

    “This is particularly relevant for the unbanked and underbanked around the globe, for whom self-custodial wallets and regulated on-ramps can be a primary gateway into digital financial services, and access to digital dollars or digital pounds.”

    Curbing such a major use case for stablecoins “kills a major strategic opportunity: Positioning the Pound Sterling, one of the strongest and most trusted currencies, as a credible alternative to USD stablecoins,” said Marzouk.

    Crypto industry questions feasibility of wallet ban

    Beyond the issue of competitiveness is the feasibility of implementing an unhosted wallet ban. 

    Susie Violet Ward, the director and co-founder of Bitcoin Policy UK, said that these rules would do little to address real illicit flows, but would rather “expand data collection, erode privacy, impose costs, and add friction and limit access through banks and intermediaries.”

    Freddie New, chief policy officer at the Bitcoin Policy UK, said that the proposed policy from BOE was of “such monumental, such overweening, stupidity, that it is hard to formulate a sensible response.”

    New said, “let everyone in the UK simply continue to use their ‘self-hosted wallets’ (ie ‘wallets’) without paying them a second’s more attention.”

    It may not be as simple as that. The central bank does have some levers it can pull that would be particularly relevant for stablecoins. But even then, “this is extremely challenging to monitor, let alone enforce,” said Garcia.

    The BOE could focus on Virtual Asset Service Providers (VASPs). Marzouk said that the bank could limit the issuance of new stablecoins into registered VASPs like crypto exchanges. In turn, these would only allow transfers to other VASPs or custodians “through the validation of existing tools that have been created for the Travel Rule regulation.”

    But even this, per Marzouk, stretches the intended purpose of the Travel Rule. “The Travel Rule is designed to enable VASPs to exchange information if there’s some complaints from clients of identity theft, for example: It was not intended to restrict or prohibit self-custody.”

    For Garcia, it’s neither “necessary nor feasible.” The underlying technology behind crypto wallets means that anyone can create one. “As long as the internet and public blockchains exist, a direct ban on wallet creation and use is not practically enforceable.” 

    It’s distinctly possible that the ban will not make it into the final version of the Bank of England’s regulations. The bank’s latest Consultation Paper on stablecoins, published in November, does not propose one explicitly.

    Any changes would have to go through the standard process, led by the Treasury under the Financial Conduct Authority’s framework as defined by the 2023 Financial Services and Markets Act. “This involves formal consultation, industry input, and iterative rulemaking before any measures can be finalised,” said Garcia. 

    The best the industry can do to circumvent a ban is to continue engaging with policymakers, per Garcia.

    “As participants within the sector, we must demonstrate the benefits of this technology clearly to address the concerns and risks that have been identified, to strengthen the case for proportionate regulation.”

    Magazine: AI-driven hacks could kill DeFi — unless projects act now

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    Samsung SDS To Build KSD Tokenized Securities Platform

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    Samsung SDS To Build KSD Tokenized Securities Platform

    Samsung SDS, Samsung’s information technology services subsidiary, will reportedly build a token securities platform for the Korea Securities Depository (KSD), moving South Korea’s central securities depository closer to operating blockchain-based securities infrastructure as the country prepares a legal framework for tokenized assets. 

    Samsung SDS won a contract to build and operate the platform for KSD, according to local reports from Yonhap News Agency and The Korea Times. The project is expected to be completed by February 2027 and will convert a technology verification testbed into a formal system capable of stable service operations. 

    KSD plans to link its existing electronic securities account system with blockchain-based distributed ledger data to strengthen tokenized securities issuance and rights management, according to the reports. 

    Samsung SDS previously worked on KSD’s tokenized securities efforts, including function-analysis consulting in 2024 and testbed platform construction in 2025, Seoul Economic Daily reported. 

    The news comes as South Korea is preparing the market infrastructure needed to support tokenized securities once its incoming legal framework takes effect.

    South Korea prepares its tokenized securities framework

    On Jan. 15, the Financial Services Commission (FSC) said amendments to the Electronic Registration Act and the Financial Investment Services and Capital Markets Act had passed the National Assembly, paving the way for the issuance and circulation of security tokens.

    The FSC said the amended Electronic Registration Act legally recognizes blockchain-based distributed ledgers as securities registries. The regulator also said token security issuers will be required to follow legally mandated procedures and apply for electronic registration with KSD, placing the depository at the center of South Korea’s future token securities infrastructure. 

    Related: South Korea crypto sector warns AML proposal goes too far: Report

    On March 4, the FSC launched a public-private consultative body on security tokens. The consultative body will work on rules and infrastructure for security tokens across four areas: technology and infrastructure, issuance, circulation and payment and settlement. 

    In the announcement, the FSC also said that the framework is scheduled to take effect on Feb. 4, 2027, after updates to subordinate rules and the setup of relevant infrastructure. That timing closely matches Samsung SDS’s reported February 2027 target for completing the KSD platform.

    Magazine: North Korea denies crypto hacks, Upbit’s bank tests Ripple: Asia Express

    Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.

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    AAVE Price Prediction: $105 Target Within 10 Days as DeFi Revival Gains Steam

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    AAVE Price Prediction: 5 Target Within 10 Days as DeFi Revival Gains Steam


    Terrill Dicki
    May 06, 2026 08:44

    AAVE’s breakout above $95 resistance with whale positioning at 61.5% long suggests a swift move to $105 Bollinger upper band. RSI neutrality provides runway, but failure to hold $93.50 pivot risks …

    Market Context: Why AAVE is Moving Now

    AAVE’s 2.5% pump to $95.39 isn’t random noise—it’s positioning for the next DeFi cycle wave that Blockchain.news has been tracking across lending protocols. The token finally cracked above its 20-day SMA ($95.06) after weeks of sideways grinding, signaling that institutional money is rotating back into yield-generating assets as traditional markets show cracks.

    With AAVE sitting dead center in its Bollinger Bands at 0.52 position, there’s clear runway to the $105.39 upper band without hitting overbought territory. The technical setup shows a token ready to run higher on the next wave of DeFi momentum.

    Indicator Alignment

    RSI at 49.01 gives AAVE plenty of room to run before hitting resistance, while the MACD histogram at perfect zero suggests momentum is about to pick a direction. The key tell is volume—$10.7M in 24-hour spot trading shows real conviction behind this move, not just algorithmic chop.

    The 7-day SMA ($93.11) has become the new floor, creating an ascending staircase pattern that typically precedes explosive moves in DeFi tokens. Smart money recognizes this setup, which explains why Blockchain.news analytics show consistent accumulation patterns in the $92-95 range over the past week.

    Whales & Analyst Targets

    The derivatives market tells the real story: top traders are positioned 61.5% long versus retail’s balanced 53.7%, creating a classic smart money divergence. Open interest climbing 1.51% to 586k contracts means new money is entering, not just existing positions being shuffled.

    That 0.0057% funding rate stays neutral, preventing the typical long squeeze that kills DeFi rallies. When whales aren’t paying premium to hold positions, they’re planning to hold them longer. The balanced taker buy/sell ratio (1.04) suggests controlled accumulation rather than FOMO buying.

    Strategic Positioning

    Bull case triggers at $97.24 resistance breach: AAVE rockets to $105 Bollinger upper band within 7-10 trading sessions. The pathway is clear with minimal overhead supply, and DeFi narrative momentum supports continuation. Target probability: 65%.

    Bear case activates below $93.50 pivot support: immediate test of $91.76 strong support, with breakdown risk to $88 zone where longer-term moving averages won’t provide help. This scenario requires broader crypto weakness or protocol-specific developments. Probability: 35%.

    The trade is straightforward—AAVE breaks higher or it doesn’t. Current positioning favors the bulls, and institutional accumulation continues. Risk management at $93 stop, with $105 as primary target within 10 days.

    Blockchain.news Crypto Market

    Image source: Shutterstock


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    Microsoft-backed Space and Time Launches Virtual Vaults for Institutional Lending

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    Microsoft-backed Space and Time Launches Virtual Vaults for Institutional Lending

    Space and Time (SXT), a level-1 data blockchain that secures onchain finance projects, has launched a virtual vault platform that it says is purpose-built for institutional lending.

    The Microsoft-backed blockchain said on Tuesday that its new virtual vaults can be configured by institutional lenders and borrowers to their specific agreement, with cryptographically verified, continuously updated visibility into borrower collateral across the centralized exchanges and decentralized finance (DeFi) protocols where it actually sits.

    Real-time verification of collateral has long vexed the institutional lending sector, with generic solvency metrics falling short of practical needs.

    “We built Space and Time so both institutions and onchain protocols could verify the data they act on, and Virtual Vaults are the clearest expression of that yet. Institutional lenders need to see exactly what collateral backs a loan, exactly when they need to see it,” said Nate Holiday, co-founder of Space and Time and CEO of MakeInfinite Labs, in a statement shared with Cointelegraph.

    Screenshot of SXT Chain Explained. Source: YouTube

    Each vault is configured to the specific terms of its lending agreement, that is, which venues to monitor, which assets qualify as eligible collateral and what thresholds trigger alerts, according to the statement.

    Related: Fireblocks launches tool for institutions to earn yield on stablecoins

    Virtual vaults extend the platform into onchain credit, bringing verifiable controls and reporting to the systems institutional lenders and borrowers actually need to operate at scale, the company said.

    Microsoft made VC investment, then integrated SXT with Fabric intelligent data platform

    M12, Microsoft’s venture capital arm, participated in Space and Time’s Series A funding round and led a 2022 strategic funding round, according to Token Terminal data.

    SXT’s most recent round, in August 2024, raised $20 million from investors including Lightspeed Faction and Arrington Capital, brought the total to $50 million. A company spokesperson declined to comment on current financing plans.

    Space and Time was integrated with Microsoft Fabric a year ago and was recently designated a Microsoft co-selling cloud solution. The software giant touts Fabric as an end-to-end “intelligent data platform” that its deployed across its cloud offerings. 

    Since then, the Space and Time Foundation has partnered with Southeast Asia’s Indomobil to onboard 50,000 students to the ecosystem. That program uses Space and Time to store proof of course completion and students pay for courses in SXT.

    Space and Time (SXT) market cap over last 12 months. Source: Token Terminal

    The blockchain’s native token, SXT, is deployed on multiple chains, including Ethereum and Base. At time of publication, CoinMarketCap data showed there were 368,350 token holders. SXT had a market cap of $21.92 million.

    Magazine: Crypto wanted to overthrow banks, now it’s becoming them in stablecoin fight

    Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.

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    Bitcoin price retakes $81K: Is BTC in bear market rally or a ‘supercycle’?

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    Bitcoin price retakes K: Is BTC in bear market rally or a ‘supercycle’?

    Bitcoin (BTC) climbed 3.5% this week to hit $81,325 on Tuesday, its highest level since January. But is Bitcoin’s multi-month highs just a bear-market rally, or has it already bottomed to resume the so-called “supercycle,” as some traders suggest?

    Key takeaways:

    • Bitcoin may rally to $180,000–$200,000 as institutional accumulation offsets bear-market pressure
    • Selling pressure remains firm near the $80,000–$82,000 area.

    BTC/USD daily price chart. Source: TradingView

    Bitcoin “supercycle” thesis targets $250,000 next

    Bitcoin’s rebound now stands at 35.70% from its February low of $59,930. Still, BTC remains roughly 36% below its October 2025 record high near $126,200. This has sparked debate among traders, with some analysts predicting a return to new all-time highs this year.

    Bitcoin is not in a typical boom-bust cycle but transitioning into its first “supercycle,” according to analyst PlanC.

    In a Tuesday post, he projected a move to above $250,000 by 2027–2028 from the $16,000 bear-market low in November 2022.

    His framework splits the current cycle into three phases: an initial rally to $126,000 (already achieved), a mid-cycle correction toward $60,000 (done, as well), and a final expansion phase targeting new highs above $250,000.

    Bitcoin supercycle illustration. Source: PlanC

    The key distinction, he noted, is that the recent ~50% drawdown resembles prior mid-cycle resets, such as 2020 and 2021, rather than the deeper 70%–90% bear markets seen in 2014, 2018, and 2022.

    In the current scenario, institutional demand is absorbing over 500% of the new daily BTC supply, turning sharp crashes into softer corrections.

    Still, the thesis hinges on Bitcoin holding above its mid-cycle floor near $60,000. A breakdown below that level would invalidate the supercycle theory and reopen the case for a prolonged bear phase.

    “I think once BTC clears the mid 80’s and holds the chances of seeing new highs are quite high,” analyst Pentoshi said in a Tuesday post, citing the ongoing supply squeeze.

    He added:

    “In terms of probabilities, I think the lows are in and we could see BTC trade as high as $180k between this year and next.”

    Elliott Wave setup hints that Bitcoin’s bottom is in

    Bitcoin’s latest rebound has strengthened the case that its correction from the January 2025 high has ended, according to trader Decode’s Elliott Wave analysis.

    The chart shows BTC likely completing a three-part A-B-C correction, with the final “C” wave bottoming near $60,000. In Elliott Wave terms, that usually marks the end of a corrective phase and can precede a new five-wave advance.

    BTC/USD weekly chart. Source: TradingView/Decode

    Decode notes that Bitcoin has now moved back above its November low, even if only slightly. That overlap invalidates bearish wave counts that expected “one more low” within the same downward impulse.

    As a result, the bearish case has narrowed. BTC could still be inside a larger correction, but the cleaner setup now suggests the recent $60,000 area was likely a cycle low.

    A decisive reclaim of the $78,000–$80,000 range as support would further boost the odds of a BTC price rally toward $90,000–$100,000 next.

    Sellers step in near a key resistance confluence

    Bitcoin’s rebound is running into a familiar resistance cluster, raising the risk of a short-term pullback.

    As of Tuesday, BTC is testing the confluence of its 200-day exponential moving average (200-day EMA, the blue line) and the upper boundary of a bear flag channel near the $80,000–$82,000 region.

    BTC/USD daily chart. Source: TradingView

    This resistance confluence increases the odds of a Bitcoin pullback in the coming days, with the downside target sitting around the flag’s lower trendline near the $70,000–$72,000 area.

    A breakdown below the bear flag’s lower trendline risks pushing the price under $50,000.

    A similar setup played out in January, when Bitcoin rallied into its 200-day EMA after a prolonged downtrend but failed to break higher. The rejection triggered another leg down before a more durable bottom eventually formed.

    Also, the 200-day EMA served as strong resistance to Bitcoin’s bear market rallies in the past, particularly in 2018 and 2022, as highlighted in the chart shared by analyst Jason Pizzino.

    Source: X

    BTC’s price dropped by an average of 40% after testing the 200-day EMA as resistance during the 2018 bear market. In 2022, the average drawdown was around 35.5%.

    Related: Bitcoin short-term cost basis approaches profitability, but $80K must flip to support first

    BTC price may decline to the $48,000–$52,000 range if the fractal repeats, aligning with the bear flag downside target.

    This article is produced in accordance with Cointelegraph’s Editorial Policy and is intended for informational purposes only. It does not constitute investment advice or recommendations. All investments and trades carry risk; readers are encouraged to conduct independent research.

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    AAVE Price Prediction: Bulls Testing $95 Breakout as Smart Money Positions for $110

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    AAVE Price Prediction: 5 Target Within 10 Days as DeFi Revival Gains Steam


    Darius Baruo
    May 05, 2026 08:49

    With whales holding 60.4% long positioning and aggressive buying pressure emerging, AAVE faces a critical $95 resistance test that could trigger a 15-20% rally to $110 within 10 days.

    Market Context: Why AAVE is Moving Now

    The DeFi lending giant finds itself at a technical crossroads as institutional positioning shifts notably bullish. Trading in a tight $91-$94 range with minimal volatility, AAVE is coiling for its next major directional move. The protocol’s fundamental strength in the lending space continues attracting institutional attention, even as the broader DeFi sector faces headwinds.

    Current price action shows classic accumulation patterns, with daily volume of $13.8 million indicating sustained interest rather than speculative froth. The token sits 36% below its 200-day average at $146.81, creating a compelling risk-reward setup for patient capital.

    Indicator Alignment

    Technical momentum tells a story of building pressure beneath the surface. With RSI at 45.03, buyers aren’t overextended but haven’t committed fully either. The MACD histogram sitting at absolute zero represents a perfect inflection point where either bulls or bears could seize control.

    More telling is AAVE’s position within the Bollinger Bands at 0.39, suggesting room for expansion toward the upper band at $109.69. The token trades below all major moving averages except the 7-day SMA at $92.77, indicating short-term buyers are stepping in despite longer-term weakness.

    Key resistance clusters at $95.73 represent the line in the sand. Breaking above this level with volume would likely trigger algorithmic buying and stop-loss covering from shorts.

    Whales & Smart Money Targets

    The derivatives data reveals where sophisticated money is positioning. Top traders maintain a 1.52 long-to-short ratio with 60.4% betting on upside, while the broader market sits more balanced at 1.13. This divergence typically precedes significant moves when smart money positioning proves prescient.

    Open interest climbing 2.28% to $56.6 million suggests fresh capital entering positions rather than existing longs adding size. The neutral funding rate of 0.0094% indicates no excessive leverage buildup that could create cascade liquidations.

    Analysts at Blockchain.news note that taker buy-sell ratios of 1.14 demonstrate aggressive buying behavior, with market orders consistently hitting ask prices rather than passive accumulation.

    Strategic Positioning

    The bull case centers on a clean break above $95.73 resistance, which would target the Bollinger upper band around $110 within 7-10 trading days. This represents a 18% upside move that aligns with whale positioning and technical breakout patterns.

    Aggressive bulls should wait for a decisive daily close above $95.73 with volume exceeding 20 million before committing. Conservative buyers can accumulate between $91-93 with stops below $89.75 support.

    The bear case activates if AAVE fails to reclaim $95 within the next 3-4 days, potentially triggering a test of $89.75 support and ultimately the lower Bollinger Band at $82.41. However, with smart money heavily positioned long and buying pressure intact, this scenario carries only 30% probability.

    Target the $110 level for profit-taking if the breakout materializes, as this coincides with both technical resistance and psychological barriers that typically generate selling pressure.

    Blockchain.news Crypto Market

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    Western Union Launches USDPT Stablecoin on Solana (SOL)

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    Western Union Launches USDPT Stablecoin on Solana (SOL)


    Tony Kim
    May 05, 2026 01:52

    Western Union debuts USDPT, a Solana-based stablecoin for cross-border payments, starting in Bolivia and the Philippines, with plans for global expansion.

    Western Union has officially entered the blockchain space, launching its U.S. dollar-pegged stablecoin, USDPT, on the Solana (SOL) blockchain. The stablecoin, designed to enhance cross-border remittances, was unveiled on May 4, 2026, and is initially being rolled out in Bolivia and the Philippines, targeting a combined market of 130 million people.

    USDPT represents Western Union’s first foray into on-chain settlement, leveraging Solana’s high-speed, low-cost infrastructure. The stablecoin is issued by Anchorage Digital Bank, the first federally regulated crypto bank in the U.S., and utilizes wallet and settlement technology provided by Fireblocks. Western Union plans to expand USDPT to over 40 countries by the end of 2026, integrating it with its global remittance network, which serves more than 150 million customers across 190 countries.

    “The launch of USDPT reflects a broader shift in how global payments are evolving,” Western Union stated, emphasizing its commitment to incorporating regulated digital assets into its infrastructure. The stablecoin is aimed at modernizing cross-border transfers by replacing slower, traditional settlement methods like correspondent banking.

    Why Solana?

    Solana’s blockchain, known for its high throughput and low transaction costs, provides a strong technical backbone for USDPT. As of May 5, 2026, Solana’s price stands at $83.96, with a market cap of $48.84 billion. The network’s performance has made it an attractive choice for financial institutions looking to improve the efficiency of payment systems.

    The move further underscores Solana’s growing role in the stablecoin sector, which currently boasts a market cap of $317.3 billion, according to CoinGecko. Analysts, including Citigroup and the U.S. Treasury, project this figure could exceed $2 trillion by 2030, signaling substantial upside potential for the ecosystem.

    Competition in the Stablecoin Market

    Western Union’s entrance into the stablecoin market follows similar moves by competitors. MoneyGram began offering USDC remittance services in Colombia in September 2025, and Zelle announced plans to launch stablecoin-powered cross-border transfers in October 2025. With remittance corridors in the Americas alone valued at $174 billion, USDPT positions Western Union to capture market share in both established and underserved regions.

    “Remittance routes between the U.S. and Central America are exploding,” said Claudia Wang, former CMO at Bybit, adding that corridors like Argentina-to-Bolivia remain largely untapped by crypto infrastructure.

    Future Plans

    Western Union intends to list USDPT on licensed crypto exchanges, allowing users to trade the stablecoin and integrate it into broader liquidity networks. The company is also set to launch ‘Stable by Western Union,’ a consumer-facing product that will utilize USDPT for seamless, regulated international transfers. This rollout is expected to bolster adoption in emerging markets and beyond.

    The strategic decision to use Solana and the issuance of USDPT by a federally regulated entity like Anchorage Digital underscores the growing convergence between traditional financial institutions and blockchain technology. With a clear roadmap for global expansion, Western Union’s move could help cement stablecoins as a cornerstone of the next-generation payment ecosystem.

    Image source: Shutterstock


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