On Tuesday, Bitcoin demonstrated resilience, trading above $74,500 and stabilizing in the mid-$70,000 range after a recent rebound from lows around $66,000. The recovery is attributed to steady spot demand and renewed institutional inflows, with spot Bitcoin ETFs recording significant investments, including a $199.4 million inflow on Monday alone. Data from Glassnode indicates improving momentum, returning buy-side pressure, and slowing capital outflows, though derivatives positioning remains cautious and on-chain activity subdued.
In a major development for the payments and stablecoin sector, Mastercard announced its acquisition of London-based stablecoin infrastructure firm BVNK for up to $1.8 billion. The deal, which includes $300 million in contingent performance-based payments, is Mastercard's largest push into digital currencies. It aims to bridge traditional payment systems with blockchain networks, enabling support for stablecoins and tokenized deposits. Mastercard's Chief Product Officer, Jorn Lambert, stated, "We expect that most financial institutions and fintechs will in time provide digital currency services." BVNK operates in over 130 countries and supports transactions on major blockchain networks.
Macroeconomic factors provided a complex backdrop. The Reserve Bank of Australia (RBA) raised its benchmark interest rate by 25 basis points to 4.1%, citing persistent inflation risks and the potential impact of higher oil prices from Middle East tensions. Oil prices surged, with Brent crude climbing 2.45% to $102 a barrel, driven by uncertainty around the Strait of Hormuz and the US-Iran conflict. US President Donald Trump criticized NATO allies for their reluctance to participate in the Iran conflict, adding to geopolitical strains.
