DeFi lenders are deleveraging but not retreating, with borrowing demand for majors like SOL and BTC staying firm and yields compressing across Maple and JitoSOL.
On-chain metrics shows BTC entering an “extremely bearish” phase, with potential downside to $91K or even $72K if key support fails, though Glassnode sees it as a mid-cycle correction rather than full capitulation.
At FinTech Week, the Standard Chartered CEO said Hong Kong’s digital asset pilots, including HKD-backed stablecoins and tokenized deposits, could transform cross-border trade, as regulators unveiled new rules allowing shared order books for crypto exchanges.
BTC holds near $110K and Ethereum trades around $3,900 as liquidations ease and market makers report clients slowly re-entering risk after the Fed-driven selloff.