CoinDesk

Arthur Hayes, the former CEO of BitMEX, has predicted that the price of Bitcoin is likely to trade within a range of $60,000 to $70,000 over the next few months. Hayes, known for his insights into the cryptocurrency market, did not provide specific reasons for his forecast.

The cryptocurrency market experienced a bearish trend over the past week. According to CoinDesk's analysis, 16 out of the top 20 cryptocurrencies by market capitalization recorded losses. The biggest decliners were NEAR, Bitcoin Cash (BCH), and Dogecoin (DOGE). Only four cryptocurrencies managed to post gains during this period.

According to the report, both equities and gold have experienced a decline in trading activity since reaching their peak levels in mid-April.

A cryptocurrency user has suffered a significant loss of $68 million worth of wrapped bitcoin (WBTC) due to an 'address poisoning' exploit, as reported by blockchain security firm CertiK. The exploit allowed an attacker to gain control over the user's funds, resulting in a substantial financial loss.

Bitcoin prices remained stable as the U.S. dollar index declined in anticipation of the upcoming U.S. jobs report. The report is expected to show that the unemployment rate has remained below 4% for the 27th consecutive month, indicating a robust labor market.

Analysts have highlighted several positive catalysts for Coinbase, a leading cryptocurrency exchange platform. These include the company's smart wallet offering Coinbase Prime, its layer-2 network Base, and its expanding international presence. The analysts believe these factors position Coinbase favorably for future growth.

Sui Chung, CEO of a leading financial firm, has expressed interest in listing cryptocurrency exchange-traded funds (ETFs) in South Korea and Israel. This move would expand the availability of crypto investment products beyond the current markets where they are offered.

Friend.Tech, a prominent technology company, conducted an airdrop of its native token, FRIEND, on Friday morning. Concurrently, the company unveiled the second version of its platform, introducing new features and enhancements.

Tether, the company behind the USDT stablecoin, has announced plans to implement a monitoring system to identify potentially risky cryptocurrency addresses. The system aims to detect addresses that could be used for circumventing sanctions or facilitating illicit activities such as terrorist financing. This move by Tether underscores the growing emphasis on compliance and risk management within the cryptocurrency industry.

According to a recent report, the cryptocurrency markets have experienced substantial profit-taking activities in recent weeks, with retail investors playing a more prominent role compared to institutional investors. This development suggests a shift in market dynamics, where individual traders are exerting a greater influence on price movements and market sentiment.