Bitcoin is barely holding $110,000 support after falling to about $111,000, down 11.8% from last week’s all-time high.
Short-dated options show heavy put buying. Bulk puts exceeded $1.15 billion and omprised 28% of trade flow while call interest remains concentrated at $115k–$130k.
Whales trimmed exposure (10–10k BTC cohort sold 17,554 BTC), though that cohort has still added 318,610 BTC year-to-date; distribution is selective, not panic.
Ethereum slipped under $4,000 and SOL and BNB both retreated; total crypto market cap fell to about $3.77 trillion and the Fear & Greed index sits at 32.
Macro flashpoints: tariff threats and an ongoing U.S. government shutdown are amplifying headline sensitivity and forcing short-term de-risking.
Chairman Park Hyeon-joo framed the newly acquired exchange as the foundation for a broader tokenization and stablecoin platform, not a standalone trading venue, days after Mirae Asset pushed its stake in the exchange to 97%.
The expansion starts with Hong Kong-listed equities and will extend to the UK, Europe and South Korea, using GTN's 90-market brokerage infrastructure to move xStocks beyond its US-stocks-only starting point.
The near-final text, circulated to industry groups before Senate Democrats saw it, would have the Justice Department enforce a conflict-of-interest rule that expires in 2029, a structure one Democratic co-sponsor already calls unserious.
A new Broadridge poll of 200 financial services executives finds near-unanimous conviction on tokenization broadly, but muted enthusiasm for stocks specifically, even as onchain data shows tokenized equity transfers up more than 170-fold in a year.
