Bitcoin price plunged below $65,500 on Friday, erasing midweek gains before settling at $67,494 by week’s end, with total market capitalization at $2.33 trillion. A bottom signal that appeared in 2023, ahead of a 130% rally in 2024, has triggered again this week, as Bitcoin logged 25 consecutive days in its extreme high risk zone, the longest stretch on record. PayPal announced the upcoming launch of PYUSDx, a platform allowing developers to create their own stablecoins backed by PayPal USD, partnering with MoonPay and M0 for the project slated for next month. Additionally, 11 US senators requested an investigation into Binance, citing allegations that approximately $1.7 billion in digital assets flowed through the exchange to Iranian entities linked to terrorism.
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