Bitcoin price and the crypto market ended the week on shaky ground. Demand has cooled, ETF flows have flipped negative again, and funding rates continue to fade. Price remains stuck well below its long-term moving average, keeping traders cautious and sentiment pinned in fear. Some see room for another leg lower before any real bottom forms.
Still, it’s not all one-way traffic. Bitcoin’s valuation versus gold is hovering around a level that has marked major turning points in past cycles, and a few momentum signals are quietly stabilising. Elsewhere, regulation moved forward, macro pressures returned, and a handful of tokens rallied on real fundamentals rather than hype.
Here’s what moved the market this week.
Silver Outperforms Gold and Crypto in 2025, but Pullback Risks Emerge
Silver stole the spotlight in 2025, climbing more than 130% and leaving both gold and crypto behind. Investors piled in as rates fell, supply tightened, and the dollar weakened. That said, the rally is now stretched. Technicals are flashing overbought signals, raising the odds that 2026 brings a cooling-off phase rather than another straight-line move.
Zcash Jumps 11% as Institutions and Regulators Shift Stance
Zcash spiked double digits after signs that the regulatory mood around privacy tech may be softening. Institutional exposure is also picking up, with new disclosures and ETF ambitions helping push ZEC back into focus. The move lifted its market cap above $7 billion and reignited debate around privacy coins’ place in regulated markets.
Bybit Re-enters UK Market with 100+ Crypto Trading Pairs
After a two-year absence, Bybit is back in the UK. This time, it’s playing by stricter FCA-aligned rules, prioritising spot trading and tighter compliance. The relaunch signals growing confidence that, while restrictive, regulated frameworks are now the price of access to major financial markets.
Terraform Labs Seeks $4B From Jump Trading Over Terra Collapse
Terraform’s bankruptcy estate escalated its legal battle, filing a $4 billion lawsuit against Jump Trading. The complaint alleges undisclosed deals and market manipulation tied to Terra’s rise and eventual collapse. It’s one of the largest post-crash legal actions yet, and another reminder that the fallout from 2022 is far from over.
Crypto Slides Despite Cooling Inflation as Macro Fears Resurface
A softer U.S. inflation print failed to lift crypto markets. Instead, Bitcoin sank toward $85,000 as fears around global rates, miner selling, and institutional distribution took over. Broader risk appetite weakened, dragging total crypto market value sharply lower despite otherwise rate-friendly data.
UNI Jumps as Uniswap Moves Toward Token Burns and Fee Switch
Uniswap’s UNI token saw a bid after its long-discussed burn-and-fee proposal advanced to final voting. Traders reacted by repricing UNI less as a governance token and more as a value-linked asset tied to protocol revenue. Volume surged, and sentiment around Uniswap shifted materially.
SEC Sets Clearer Rules for Crypto Custody by Broker-Dealers
The SEC issued long-awaited guidance on crypto custody, clarifying how broker-dealers must handle client assets. While the rules reduce legal uncertainty, they also raise the bar operationally, bringing crypto custody closer to traditional securities standards.
Solana Risks Drop to $100 Despite ETF Inflows
Solana remains under pressure. The price is hovering near multi-month lows even as ETF inflows and network activity remain strong. With momentum indicators still pointing down, analysts warn that failure to reclaim key resistance could open the door to a move toward $100.
PayPal Applies for U.S. Banking License
PayPal took a major step toward becoming a full-scale financial institution, applying for a U.S. banking charter. If approved, it would gain direct access to deposits and lending—but also face much tighter oversight. The move could reshape competition across fintech and crypto rails alike.
Nasdaq Moves Toward 23-Hour Weekday Stock Trading
Nasdaq is pushing closer to crypto-style trading hours, proposing 23-hour weekday access to U.S. equities. The change aims to improve global price discovery but raises questions around liquidity quality, spreads, and infrastructure strain.
Bank of Japan Prepares $500B ETF Exit Starting 2026
Japan’s central bank is preparing to unwind more than $500 billion in ETF holdings beginning in 2026. The process will be gradual, but the scale is massive, and markets are already watching closely for knock-on effects across global equities and risk assets.
