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BNB has broken below a key ascending trendline support, dropping 10% to $697, with trading volume surging 40% to $3.75 billion. Analysts warn that if the closing price falls below $675, it could trigger a further 10% decline, with a target price of $610. On-chain data shows that major holders have not increased their positions, while derivatives traders are holding $21.21 million in leveraged short positions, indicating strong bearish sentiment in the market.

U.S. Treasury Secretary Scott Besant criticized some members of the cryptocurrency industry for obstructing the legislative process of the Digital Asset Market Clarity Act while testifying before the Senate Banking Committee. He stated that these market participants seem to have no desire for any regulation at all. He also suggested that those who do not support strong regulation could choose to move to El Salvador.

According to a report by Bijie Network: In a recent speech, Michael Lewis and Tom Lee from Fundstrat highlighted how extreme market volatility and AI-driven industry transformation are reshaping the investment landscape. Lewis cited a Fidelity study indicating that the best-performing retail accounts belonged to deceased clients, emphasizing that "inactivity" often outperforms "overtrading." Lee pointed out that hedge funds typically hold stocks for only a few seconds, while retail investors with "permanent capital" perform better. He noted that AI has led to a significant shrinkage in software stocks, with a related ETF recently losing about 100 billions USD. Lewis warned against conflating the potential of AI with guaranteed profitability, noting that AI could reduce corporate earnings. The two also discussed the existential risks faced by assets such as bitcoin and gold. Lewis revealed that he holds a "doomsday trade" defensive position in gold, reflecting his cautious investment approach.