KEYTAKEAWAYS
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Bitcoin is approaching a critical technical threshold near $81.3k, with a sustained break below this level likely to trigger broader selling pressure across large cap crypto assets.
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Regulatory and industry lines continue to blur as CFTC Acting Chair Caroline Pham prepares to join MoonPay, highlighting deeper integration between U.S. regulators and crypto infrastructure firms.
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Coinbase is accelerating its transition toward an “Everything Exchange” by expanding into stocks, prediction markets, derivatives and AI driven financial services under a single regulated platform.
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Bitcoin Tests Market Balance as $81.3k Emerges as Critical Technical Threshold
Bitcoin continued to drift lower in Asian trading hours, with on chain data highlighting $81,300 as a key market inflection point. Glassnode’s True Market Mean, which separates time based drawdowns from more aggressive loss realization, has become the level investors are watching most closely following October’s flash crash.
Large cap crypto assets remain tightly correlated with bitcoin, particularly since the October 10 volatility event. This correlation reinforces bitcoin’s role as the market’s anchor, meaning a sustained break below the True Market Mean could have market wide implications rather than remaining isolated to BTC.
Glassnode data shows that extended trading below this level has historically coincided with broader selling pressure across the crypto market. With high beta tokens already weakened and liquidity still thin, a failure to hold above $81.3k risks pulling weakness back into the market core rather than remaining confined to the periphery.
At the time of writing, bitcoin was trading near $86,400, down about 1% on the day and 6.5% over the past week. Ether continued to underperform, down roughly 15% on the week, while gold surged to new record highs above $4,300 per ounce amid central bank buying and geopolitical risk.
CFTC Acting Chair Caroline Pham Set to Join MoonPay Following Senate Confirmation
U.S. Commodity Futures Trading Commission Acting Chairman Caroline Pham is preparing to transition into the private sector, with plans to join crypto payments firm MoonPay once her successor is confirmed by the Senate.
President Donald Trump’s nominee for CFTC chair, Mike Selig, was scheduled for a Senate confirmation vote, clearing the way for Pham’s long anticipated move. Pham is expected to take on the role of chief legal officer and chief administrative officer at MoonPay, a crypto fintech firm that recently secured a New York trust charter and already holds a BitLicense.
Pham has been a vocal proponent of crypto friendly policy during her tenure, pushing multiple initiatives that have gone live in recent weeks. Her move underscores the increasingly fluid boundary between U.S. financial regulators and the digital asset industry as regulatory frameworks mature.
MoonPay CEO Ivan Soto Wright described Pham as one of the most influential figures in U.S. financial regulation, positioning her hire as a strategic step as the firm expands its regulatory engagement and compliance footprint in Washington.
Coinbase Expands Into Stocks and Prediction Markets in Bid to Become an “Everything Exchange”
Coinbase announced a sweeping expansion of its platform, rolling out stock trading, prediction markets, perpetual futures and additional services as part of its strategy to become what it calls the “Everything Exchange.”
The U.S. listed exchange plans to introduce trading for hundreds of top stocks based on market capitalization and liquidity, with thousands more stocks and ETFs expected to follow. Users will be able to manage crypto and traditional assets within a single Coinbase account, using either USD or USDC, and access zero commission trading outside traditional market hours.
Coinbase is also integrating prediction markets, starting with Kalshi, allowing users to trade on real world events such as elections, sports and economic indicators. On the derivatives side, the platform is expanding futures and perpetual offerings across crypto, commodities and equity indices, while continuing to simplify access for retail users.
Additional updates include expanded Solana DEX integration via Jupiter, global availability of the Base blockchain across more than 140 countries, and the launch of new services such as Coinbase Business and an AI powered wealth management tool called Coinbase Advisor. Despite speculation, Coinbase said there are currently no updates regarding a native Base token.
