Citi launches market-first tokenised depositary receipts.
After falling to a low of $59,100, bitcoin staged a modest relief rally last week, climbing as high as $66,000 as buyers stepped back in following the recent selloff.
U.S. spot bitcoin ETFs saw $85.9 million in net inflows on Friday, ending a five-session outflow streak, writes Simon Peters, cryptoasset market analyst at multi-asset investment platform eToro. .
From a technical analysis perspective, bitcoin is testing several important support levels, most notably its 200-week moving average, which has historically coincided with major market bottoms, and the beginning of new bull market cycles.
In addition, on-chain metrics such as the MVRV Z-score, which compares bitcoin’s market value with its realised value, or the average price at which all bitcoin last moved on-chain, have fallen to levels that have historically signalled attractive long-term entry points for investors.
It may be too early to call this the bottom, however. Macroeconomic factors such as rising inflation, along with the markets beginning to price in interest rate hikes, remain important headwinds that could limit any further rally.
Looking ahead to this week, attention will turn to Wednesday’s Federal Reserve interest rate decision, particularly the first press conference by new chairman Kevin Warsh. Markets will be watching closely for his views on the recent rise in inflation, labour market strength, and the future path of interest rates, all of which could affect risk assets, including crypto.
BIGGEST MOVERS
$TAO was among the strongest performers in the crypto market last week, rallying 36% after reports that the US government has directed Anthropic to suspend foreign access to its Fable 5 and Mythos 5 AI models.
This news highlighted the regulatory and geopolitical risks associated with centralised AI infrastructure, reinforcing concerns that access to leading models can be restricted by governments or corporate entities.
In response, investors rotated into the decentralised AI narrative, where Bittensor remains one of the sector’s most prominent projects.
Discover more here: https://www.etoro.com/discover/markets/cryptocurrencies/market-movers
EYE-CATCHING STORIES
Citi launches market-first tokenised depositary receipts to connect private companies and investors
Citi, one of the largest investment banks in the US, last week announced the launch of Digital Depositary Receipts on private shares, introducing a direct and transparent model designed to broaden access to private markets for both global issuers and investors.
The launch marks the first time a global financial institution has acted as both issuer and custodian of tokenised depositary receipts representing private companies.
As IPO timelines lengthen, private companies are increasingly seeking alternate routes to access liquidity. Existing private-share transactions often involve complex structures, multiple intermediaries, limited transparency and high costs. By tokenising private shares through a single institutional-grade platform, Citi aims to streamline access to private markets, reducing operational complexity and costs while improving transparency and efficiency.
The move represents another significant step toward the institutional adoption of tokenisation and the modernisation of private capital markets.
The press release went on to say Citi is considering future extensions of this offering to operate across both digital and traditional financial market infrastructures, as well as multiple blockchain networks.
