This report covers Bitcoin's growth predictions, the Hyperliquid investigation, and Fidelity's crypto asset plans.
Bitcoin Price Analysis
Some analysts believe Bitcoin could reach $110,000 before a rollback to $76,500. BitMEX co-founder Arthur Hayes claims easing inflation and improved liquidity support price growth. Bitcoin closed the week above $86,000, backing Hayes' forecast of a new all-time high.
Hyperliquid Exploit: Details
An unidentified crypto whale earned over $6 million by exploiting Hyperliquid's algorithms. This whale manipulated the price of the Jelly my Jelly (JELLY) memecoin, holding about 10% of the JELLY tokens.
Fidelity’s Stablecoin Plans
Fidelity Investments is exploring launching a stablecoin amid improved crypto-regulation. The launch will happen through Fidelity Digital Assets. Additionally, an Ethereum-based 'OnChain' share class is planned to track transactions.
Positive forecasts for Bitcoin and actions by major players, such as the Hyperliquid exploitation and Fidelity's crypto-asset developments, continue to shape the crypto market environment.
