Gate Cryptocurrency News and Market Analysis

SkyBridge Investment Company partner Scaramucci stated that Bitcoin's four-year halving cycle remains effective, with the current bear market representing a normal pullback, predicting another bull market for Bitcoin in 2026. The market's collective belief is self-fulfilling, and pessimistic sentiment similar to historical patterns could present entry opportunities. Although institutional investors influence cyclical volatility, the fundamental nature of the halving cycle has not changed.

USR stablecoin suffered an attack where an attacker exploited a vulnerability in the minting contract to mint over 80 million unsecured tokens from approximately 200,000 USD USDC, causing its collapse to 0.025 USD in the Curve Finance liquidity pool. This incident led to liquidity depletion, impacting multiple DeFi platforms and prompting renewed focus on stablecoin regulatory issues.

Bitcoin declined to $67,979.57 today, primarily affected by US-Iran tensions, higher-than-expected US PPI data, and whale short-selling activity. Global markets face stagflation pressure, with $70,000 serving as a key support level. If this level is breached, prices could potentially decline to $68,000.