News

ChainCatcher news, Glassnode released a market report stating that Bitcoin rebounded to $116,000 last week driven by expectations of a Federal Reserve rate cut, but is now facing a new round of selling pressure. Although the RSI has entered the overbought zone and spot market momentum remains strong, buyer confidence is limited. Futures market participation is rising, and US spot ETF inflows have significantly increased, indicating robust institutional demand. On-chain data shows that active addresses are near cyclical lows, but transfer volume has increased, suggesting active capital flows while user activity declines. Investor profitability indicators have generally improved, but increased profit-taking may lead to weaker demand. Analysts believe the market is at a critical crossroads, with $114,000 as the key upside level, while a drop below $108,000 could bring greater downward pressure. Bitcoin is currently consolidating in the $104,000-$116,000 range, ETF demand is cooling, and market sentiment is cautiously optimistic but remains fragile.

ChainCatcher news, Pendle announced on its social platform the launch of cross-chain PT, with the first product being PT-USDe deployed on Avalanche. As a source of fixed income, PT has already become an indispensable part of DeFi, supporting over $5.8 billions worth of PT as collateral on Ethereum through major lending markets such as Aave, Morpho, and Euler. Pendle plans to continue expanding its fixed income landscape by utilizing PT on different public blockchains, and even extending to off-chain yields in the future.