The Big Picture
Crypto markets showed a familiar split overnight, with strong flows into Bitcoin products and stablecoins offset by rising regulatory heat and a dramatic theft allegation. You saw fresh buying interest lift BTC above $73,000 briefly, while lawmakers pushed to curb prediction markets tied to government actions.
That combination matters because it puts momentum and policy risk on the same stage. If you own crypto or related stocks, you'll want to weigh the flow-driven price moves against the likelihood of tighter rules and headline risk today.
Market Highlights
Quick facts and movers to watch this morning.
- Bitcoin price action: BTC briefly topped $73,000 on Wednesday, as traders tested a multi-year resistance band referenced by analysts.
- ETF flows: US spot Bitcoin ETFs drew $462 million in inflows on Wednesday, led by BlackRock's $IBIT with about $307 million of that total, extending a three-day inflow streak to roughly $1.1 billion.
- Stablecoins: Weekly stablecoin inflows rebounded 414% to $1.7 billion, according to Messari, underscoring renewed demand for on-ramps and cash-like crypto assets.
- Mining and infrastructure: $IREN ordered more than 50,000 Nvidia GPUs and filed for a potential $6 billion at-the-market share sale, which sent its stock lower in