Canada plans to ban crypto political donations, Israel greenlights $BILS stablecoin, and $ETH hits triple-top resistance; BTC drops to $76K as market sentiment shifts to Fear. Today’s crypto market moved into a volatile pullback. The latest market data showed a broad correction across major crypto sectors over the past 24 hours. Bitcoin (BTC) retreated after failing to hold near recent highs and slipped back toward the $76K level. Ether (ETH) faced heavier selling pressure and fell toward $2,290. Market sentiment was weighed down by both macroeconomic data and geopolitical risks. Investors also remained cautious ahead of upcoming US tech earnings. In terms of capital flows, the market saw a large-scale leverage flush, and long positions suffered heavily during the rapid price swings, pushing total liquidations sharply higher. Even though most tokens stayed under pressure, the NFT sector moved higher against the broader trend, supported by projects such as Pudgy Penguins. This suggests that while risk appetite remained weak, some capital still rotated into selective narratives. The broader market structure showed Bitcoin consolidating, altcoins posting widespread losses, and a few niche sectors staying active. At the same time, the probability of the Federal Reserve keeping interest rates unchanged in April stood at 100%. The market is now closely watching how inflation data could affect June policy expectations. This wait-and-see macro backdrop continued to limit buying interest across risk assets.

Crypto Markets Overview

The current Crypto Fear & Greed Index stands at 33, with market sentiment shifting from Neutral to Fear. This reflects rising concern among investors over a possible short-term pullback. Over the past 24 hours, Bitcoin showed relatively better resilience. It was rejected after testing the $79,500 resistance level and fell back toward the $76K area, but it still showed some support near $76,500. The current average 8-hour funding rate across the market remains low at -0.0029%, which suggests that bearish positioning is gradually becoming more dominant. Ether showed weaker performance. After failing several times to break above $2,400, it has now fallen to around $2,290. Its funding rate declined further to -0.0049%, which points to fading confidence among speculative traders in a bullish ETH rebound. Total liquidations across the market reached USD 336 million over the past 24 hours. Long liquidations accounted for USD 275 million, which shows that the market is clearing out overly leveraged long positions. The largest single liquidation order took place on a BTC trading pair at a major CEX. If BTC breaks above $80,996, short liquidation pressure could rise to USD 2.504 billion. If ETH moves above $2,414, the market could face USD 1.271 billion in short liquidation risk. The market is now in a volatile bottoming phase after an intense round of leverage cleanup.

Source: Alternative

Key News Highlights:

Canada Advances Bill To Ban Crypto Political Donations And Strengthen Election Transparency

Canada’s House of Commons recently passed the second reading of Bill C-25, also known as the Strong and Free Elections Act. One of the bill’s core provisions would ban political parties and candidates from accepting cryptocurrency donations. This move is seen as an important part of Canada’s broader election law reform. Its goal is to improve transparency in political funding and reduce the risk of foreign interference. Regulators argued that the pseudo-anonymous nature of crypto and the difficulty of tracing some transactions could create loopholes in campaign finance rules. For that reason, they aim to remove crypto from legally accepted donation channels. The bill has now been sent to committee for detailed review, and amendments are still possible. Even so, the direction of the legislation clearly reflects the government’s cautious stance on allowing digital assets into sensitive political activities. At the same time, Canada is also moving forward with regulatory frameworks for stablecoins, crypto investment funds, and custody services. This shows that the government is trying to support financial innovation while also drawing stricter compliance boundaries to ensure digital assets are not used to disrupt the electoral process.

Israeli Regulators Approve First Shekel-Pegged Stablecoin Pilot

Israel’s Capital Market, Insurance and Savings Authority recently approved virtual asset exchange Bits of Gold to launch a stablecoin called BILS. It is the country’s first digital asset pegged to the Israeli shekel (ILS). The approval came after a two-year pilot program conducted on the Solana blockchain, marking an important step forward in Israel’s regulation of digital currencies. According to the official statement, BILS reserve assets will be held in designated segregated accounts within Israel to ensure fund security and regulatory transparency. The project forms part of a broader strategy led jointly by Israel’s Finance Ministry and Tax Authority to bring the crypto industry into a standard regulatory framework. The stablecoin is designed to build a direct bridge between the Israeli shekel and the global digital asset economy. It is expected to support real-time payments, onchain trading, and a range of programmable financial applications. It also comes at a time when the local currency is trading at historically strong levels against the US dollar, giving the market a more diverse set of liquidity options.

Ether Faces Technical Resistance And A Large Liquidation Risk Zone

Ether is facing serious technical pressure. Over the past two weeks, the price has tried four times to break above the $2,400 resistance level and failed each time. This has formed a clear triple top pattern on the daily chart. Such a pattern often signals heavy supply overhead, with buyer momentum weakening around the same price area. As a result, ETH has pulled back below $2,300. Based on onchain data and market depth analysis, Ether’s funding rate has now dropped to its lowest level since February, while short positions are starting to gain the upper hand at current levels. Analysts have warned that the $2,150 area below has accumulated more than USD 2.5 billion in leveraged long liquidation risk. If the price breaks below that key support zone, it could trigger a chain reaction of forced liquidations and push ETH further down toward $2,050 or even lower. Ether is now at a key short-term deleveraging stage. The decline in open interest suggests that the market is going through a position reset, and investors should closely monitor how well this support zone holds.

Trending Tokens:

• $OPG (OpenGradient)

As OpenGradient gains sharply rising market attention, the decentralized AI infrastructure narrative continues to build momentum. OpenGradient operates as a native intelligence network focused on bringing global compute capacity on-chain. The platform supports open-source model hosting, secure execution, agent inference, and decentralized application deployment. Reflecting this specialized focus, the project recorded this 33.26% increase in its Growth Index over the past seven days, while its Heat Index rose by 36.61%. After successfully completing the USD 8.5 million funding round, investor confidence in the network has remained elevated. The round saw notable participation from Coinbase Ventures, Andreessen Horowitz CSX, and Balaji Srinivasan. Positioned within the BNB Chain ecosystem, the project has established itself as a foundational layer for AI infrastructure since its inception.

• $RSGP (Cambria)

After the close of Cambria’s token presale, the GameFi and high-stakes on-chain gaming narrative returned to market focus. The project raised about USD 1 million from 958 contributors at a fully diluted valuation of USD 30 million. Market discussion intensified after the team addressed a minor discrepancy around the actual closing time of the presale window. Due to a brief user interface buffer designed to protect transactions already being processed, the system accepted submissions for about one additional minute after the announced deadline. To maintain transparency and maximize participant certainty, the team recognized all commitments submitted during this short extension. The project has committed to using clear block-height cutoffs for all future campaigns to avoid ambiguity. Since the gameplay involves real commitments and high-risk decisions, strict adherence to publicly announced standards remains essential.

• $PRL (Perle Labs)

As the broader AI sector attracts significant capital and developer attention, the AI data segment is seeing renewed momentum. Recent industry developments, including advanced models and image generation system releases from major players such as OpenAI, highlight the urgent need for high-quality training datasets. Perle Labs operates as an AI data training protocol designed to bring expert-level human feedback on-chain and deliver enterprise-grade quality. By leveraging a specialized community of Web3 contributors, the platform provides verifiable training data while empowering data annotators through transparent mechanisms. The project was founded by veterans from Scale AI and has secured USD 17.5 million in total funding. Key investors and participants include CoinFund, Framework Ventures, and Big Brain Holdings. As model capabilities continue to expand, the protocol positions itself as a key value-capture node by providing the fundamental data layer that shapes system performance.

Disclaimer: The information provided in this section is for informational purposes only and doesn't represent any investment advice or FameEX's official view.