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  • Bitcoin is experiencing significant volatility, with analysts predicting potential for a short squeeze at around $89,000 while also monitoring bearish pressure as it dips below $88,000.
  • Ethereum maintains a bullish outlook above the $2,800 support level, even after dropping below $3,000, amid speculation of a potential recovery in the coming weeks.
  • Regulatory discussions are intensifying, with the SEC granting no-action relief to Fuse Energy Token and Spain proposing a steep 47% crypto tax, highlighting the ongoing scrutiny faced by the sector.
  • Traditional financial institutions are increasingly experimenting with crypto-related products; U.S. Bank is testing stablecoin issuance on the Stellar network, while Blockrise has secured a MiCA license to offer Bitcoin-backed loans in Europe.
  • Market sentiment remains cautious, with most cryptocurrencies in the "extreme fear" zone, yet selective capital rotation into altcoins like MON and XRP is occurring as some investors anticipate a recovery from the current downturn.

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