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By Wednesday morning, April 29, the cryptocurrency had clawed back some ground, but reversed sharply near $79,000 after the US Federal Reserve\u2019s policy-rate decision. Within hours it slumped to $75,000.<\/p>\n
The regulator kept<\/a> the rate in a 3.5\u20133.75% range for the third consecutive meeting. The Fed cited inflationary pressure from rising global energy prices and warned that the situation in the Middle East creates \u201ca high degree of uncertainty\u201d for forecasts.<\/p>\n Even so, several analysts reckon the rate decision is not the key driver of the \u201cdigital gold\u201d price at present. Market attention is fixed on the US CLARITY Act bill.<\/p>\n Through Thursday bitcoin recovered slowly and by Friday it had settled near $78,000. Over the weekend it traded in a narrow $78,000\u201379,000 range.<\/p>\n At press time the cryptocurrency changes hands around $78,800 (+1.3% on the week).<\/p>\n A psychological salve for investors may have been April\u2019s positive close. For the first time in a year bitcoin posted a notable monthly gain, up 11.8%.<\/p>\n Yet CryptoQuant analysts noted<\/a> the speculative nature of April\u2019s rally. In their view, perpetual futures drove the rebound from $66,000 to $79,000, while spot demand stayed negative.<\/p>\n They compared today\u2019s demand structure with the start of 2022\u2019s bear phase: then, growth in derivatives volumes likewise coincided with shrinking spot activity, followed by a months-long correction.<\/p>\n Other top-10 coins broadly tracked the bellwether. Ethereum still hovers around $2300, Solana near $85.<\/p>\n In US spot bitcoin-ETFs<\/a>, inflows have persisted for a fifth consecutive week, though volumes are fading. From April 27 to May 1 investors added a net $153m.<\/p>\n Ethereum funds broke a three-week run, shedding $82m.<\/p>\n The crypto fear and greed index<\/a> returned to neutral for the first time since mid-January, at 47.<\/p>\n Total crypto market capitalisation is $2.69trn. BTC dominance stands at 58.5%, ETH at 10.4%.<\/p>\n The number of active addresses on Ethereum reached<\/a> an all-time high\u2014the 100\u2011day moving average crossed 587,000.<\/p>\n A CryptoQuant analyst under the pseudonym CryptoOnchain flagged a record divergence between the asset\u2019s market price and the protocol\u2019s fundamentals. Historically, growth in active addresses has correlated with price increases.<\/p>\n Today\u2019s set-up is a rare exception to that pattern.<\/p>\n CryptoOnchain added that an influx of new users and robust blockchain demand point to Ethereum being undervalued. The analyst called this \u201ca hidden bullish signal\u201d.<\/p>\n At the same time, other researchers recorded<\/a> anomalous readings in derivatives on the second-largest cryptocurrency. An analyst known as Arab Chain noted a drop in Ethereum open interest on Binance.<\/p>\n The metric fell to $4.99bn versus an average $5.31bn.<\/p>\n A negative MVRV Z-Score<\/a> (\u22120.91) corroborates the outflow of liquidity. It suggests traders are unwilling to open new positions\u2014the market does not believe in a quick rally.<\/p>\n Analyst Darkfost pointed to signs of a possible short squeeze: since the local low on February 6 the price of Ethereum has risen by more than 30%; at the trough the asset had lost about 65% of its value; and altcoin market capitalisation halved.<\/p>\n Meanwhile, the exit queue from staking<\/a> has swelled. On May 2 the metric hit a local high above 530,000 ETH.<\/p>\n Forbes journalists estimated <\/a>investors\u2019 losses at mining company American Bitcoin at $500m. The firm belongs to the US president\u2019s son\u2014Eric Trump.<\/p>\n Since the company\u2019s Nasdaq debut in September 2025 at a $13.2bn valuation, Trump\u2019s wealth has risen from roughly $190m to $280m\u2014he did not invest his own funds to build the business. Meanwhile, American Bitcoin\u2019s shares have fallen by 92%.<\/p>\n Forbes highlighted the miner\u2019s unprofitability. Its all-in cost to produce 1 BTC is about $90,000.<\/p>\n Reporters also pointed to the terms of a deal with Hut 8. American Bitcoin obtained access to mining equipment, while the other side retained data centres, real estate, operational control and part of the leadership. According to the annual report, American Bitcoin had only two full-time employees.<\/p>\n In August\u2013September 2025, the company bought ASIC miners for about $330m\u2014not for cash, but by pledging bitcoins with an option on how to settle. If the price rose it could pay cash and keep the coins; if it fell it would hand them to the supplier.<\/p>\n After the deal, digital gold fell by roughly 30%. Forbes believes that if the current trend persists American Bitcoin will lose the 3,090 BTC it pledged\u2014even though the company has mined only 1,800 BTC.<\/p>\n Moreover, about 70% of American Bitcoin\u2019s cryptocurrency came not from mining but from selling shares and then buying coins on the market.<\/p>\n From inception to end-March the firm spent about $525m on cryptocurrency now valued at roughly $390m. By Forbes\u2019s calculations, the company has \u201cburned\u201d about $135m of shareholders\u2019 funds.<\/p>\n Eric Trump called the publication \u201ca political weapon\u201d and \u201ca disgrace to journalism\u201d.<\/p>\n \u201cJust a year ago American Bitcoin did not exist. [\u2026] Today we own 9,000 BTC and are the 16th largest public bitcoin company in the world, backed by a fleet of 90,000 miners,\u201d wrote the president\u2019s son.\u00a0<\/p>\n<\/blockquote>\n Last month set a record for hacks in crypto\u2014DefiLlama analysts recorded<\/a> more than 20 incidents in April.<\/p>\n By CertiK\u2019s estimate, total losses from attacks reached $651m. In dollar terms the figure was not a record, but the number of separate breaches exceeded historical levels.<\/p>\n Analyst Stacy Moor counted 24 thefts in total. The biggest included:<\/p>\n According to CertiK, April\u2019s losses were the largest since March 2022, excluding the incident with the Bybit exchange<\/a>. About $3.5m of the total was due to phishing.<\/p>\n Also on ForkLog:<\/strong><\/p>\n Cursor chief Jer Crane said<\/a> their Opus 4.6-based assistant independently deleted the main database and all backups of the PocketOS startup in nine seconds, with no way to recover them.<\/p>\n The affected project positioned itself as a provider for rental services, mostly car hire. Some clients had worked with the company for more than five years. They use the software for booking, payments, management, vehicle tracking and other tasks.<\/p>\n When asked to explain its actions, the AI agent listed the security rules it had violated. While performing a task in a test environment, it ran into credential mismatches. To fix the issue, it deleted the persistent data store on the Railway platform.<\/p>\n The assistant began searching for an API<\/span> token and found it in a file unrelated to the current task. The token had been created to add and remove user domains via the Railway CLI.<\/p>\n The agent executed the delete command without asking for confirmation. Because Railway keeps backups in the same storage, they disappeared too.<\/p>\n \u201cI did not check. I did not make sure whether the identifier is used in all environments. I did not read Railway\u2019s documentation on how storage works across environments before running the command,\u201d the agent explained.<\/p>\n<\/blockquote>\n According to it, system rules forbid running destructive and irreversible commands without an explicit user request. The AI also admitted it had violated all safety protocols.<\/p>\n How prediction markets have turned<\/a> into corporate barbershops.<\/p>\n![\"image\"](\"https:\/\/u1f987.com\/wp-content\/uploads\/img-2906551e2bd80442-3417342564393922.webp\")
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Record activity<\/h2>\n
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What to discuss with friends?<\/h2>\n
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The Trump model<\/h2>\n
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Hacks hit a record<\/h2>\n
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A wayward AI agent<\/h2>\n
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What else to read?<\/h2>\n