Bitcoin recovered to $64.5K weekly despite volatility; Ripple obtained full MiCA licensing in Europe; Ethereum and Solana see mixed sentiment ahead of protocol upgrades.
Regulation & Gov ·
Bitcoin recovered to $64,500 during the week, marking a 3.5% gain despite sharp intraweek swings that saw the asset dip to $61,200 and $61,600 at different points. The volatility was triggered by a major corporate holder's sale of over 3,500 units and escalating US-Iran tensions in the Middle East. Ethereum held steady near $1,800 with a 2.7% weekly advance, while Solana struggled around the $80 level and XRP defended support near $1.10.
In regulatory news, Ripple secured full authorization from Luxembourg's regulator to operate as a Crypto Asset Service Provider across the European Economic Area, a substantial milestone for the payments platform's European operations. Meanwhile, the upcoming Glamsterdam upgrade for Ethereum has drawn analyst attention as a potential catalyst, though social media engagement remains subdued relative to on-chain activity metrics. For Solana, a surge in negative commentary and low trading volumes may paradoxically signal a setup for a market reversal based on historical precedent.
What remains unclear is whether the corporate bitcoin sales represent broader capitulation or portfolio rebalancing, and whether the regulatory clarity Ripple obtained will translate into competitive advantage within the European market. The timing and impact of Ethereum's upgrade execution also remain to be tested once the protocol changes go live.