Glassnode data reinforces this trend. On a seven-day moving average, realized profits are around $300 million per day, near twelve-month lows. This suggests that investors who accumulated bitcoin at $60,000 are now marginally in profit and beginning to take some gains.

Meanwhile, the realized profit-to-loss ratio has risen to 1.4, its highest level since January, according to Glassnode data. This metric, which compares the value of coins moved at a profit to those moved at a loss, shows that realized profits now outweigh losses.

These indicators point toward a market where selling pressure is fading, raising the likelihood that bitcoin is approaching a phase of seller exhaustion.

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Encryption Supremacy - Zcash and Privacy in the Age of Scale

Most crypto privacy models weaken as blockchain data grows. Encryption-based models like Zcash strengthen. CoinDesk Research maps the five privacy approaches and examines the widening gap.

Why it matters:

As blockchain adoption scales, the metadata available to machine learning models scales with it. Obfuscation-based privacy approaches are structurally degrading as a result. This report provides a comprehensive comparison of all five major crypto privacy architectures and a framework for evaluating which models remain durable as AI capabilities improve.

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(David Dee Delgado/Getty Images)

Several major investment firms have preemptively downgraded Coinbase and other platforms as a sharp drop in trading activity and falling token prices threaten to derail upcoming first-quarter earnings results.

What to know:

  • Wall Street analysts are cutting forecasts for Coinbase and other crypto firms as trading volumes and token prices slump to their weakest levels since late 2023.
  • Barclays downgraded Coinbase and now expects significantly lower profitability, while Oppenheimer trimmed its volume and revenue estimates but remains relatively more optimistic.
  • Pockets of…

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