The investment firm said nation-states and central banks are increasingly turning to assets like Bitcoin and gold as alternative settlement systems outside of US control.
Paxos says its approval as a blockchain-focused clearing agency represents a “critical piece of financial market infrastructure” as Wall Street becomes more interested in crypto.
CryptoQuant says that the holding structure for large Bitcoin holders is deteriorating, a trend that has historically preceded “sustained price weakness.”
Investors selling across spot, futures and ETF markets pushed Bitcoin into its monthly range lows near $72,000 but data shows retail investors buying the dip and opening longs.