Crypto Market Update: Bitcoin Consolidates Amid Mixed Whale Activity

Bitcoin price update

Bitcoin (BTC) was priced at US$78,451.20, down by one percent over the past 24 hours.

In a market report sent to the Investing News Network, Simon-Peter Massabni, head of business development at XS.com, noted that Bitcoin is recovering from a mild correction, experiencing a mix of inconsistent whale accumulation, strong support from spot Bitcoin ETFs and increased speculative activity in futures.

“The current bull run still needs stronger on-chain accumulation from whales and humpbacks to support a sustained advance,” Massabni wrote, adding that the current period could offer Bitcoin holders an opportunity to build positions as current geopolitical signals indicate reduced risk of another major shock to energy markets.

Today’s crypto news to know

Read on for a round-up of the biggest crypto market news:

• Crypto market flips to “extreme greed” as treasury buybacks fuel rally
• Grayscale launches first spot Zcash ETF on NYSE Arca
• Japan prepares blockchain network for instant stock, bond settlement
• Rayls launches Sovereign
• Bitwise launches ATPs powered by Coinbase and Glider
• Stable Sea expands WisdomTree relationship

Crypto market flips to “extreme greed” as treasury buybacks fuel rally

The cryptocurrency market entered “extreme greed” territory for the first time since late 2024 as the Crypto Fear and Greed Index on Coinmarketcap hit 81 late Sunday evening.

The index broke cleanly above the 80 threshold, signaling panicked buying and intense market conviction after spending nearly a year trapped in fear. This 45-point surge over the last 30 days marks the fastest sentiment shift between extremes since Coinmarketcap began tracking the metric.

The sentiment flip bottomed at an extreme fear score of 5 on February 5 before completing a full round trip to 81 in less than six months.

A massive Bitcoin rally drove the sentiment surge, with the asset gaining roughly 24 percent in a single week and expanding its market dominance over altcoins. The price breakout began when the US Treasury announced plans to double its long-bond buybacks to US$4 billion per operation starting September 9.

A forced short squeeze accelerated the price explosion, liquidating more than US$4 billion in bearish crypto positions as Bitcoin cleared US$70,000.

Grayscale launches first spot Zcash ETF on NYSE Arca

Grayscale launched the Zcash ETF under ticker ZCSH on NYSE Arca as an exchange-traded product.

The product marks the first ETP globally offering spot exposure to the Zcash token, a digital asset designed for private decentralized transactions.

Zcash combines Bitcoin’s 21-million coin supply cap and proof-of-work model with optional…