Bitcoin currently has a $4.4 billion supply overhang, with weak institutional demand weighing on its rebound prospects.

StarkWare has unveiled a quantum-resistant roadmap for Starknet, divided into three phases to counter future quantum computing attack risks. The first phase involves replacing part of the existing Pedersen hash (a security mathematical mechanism) with quantum-resistant versions, and adding quantum-resistant signatures. The second phase focuses on migration tools that enable upgrades to existing smart contracts without requiring developers to manually rebuild their applications. The third phase covers dependencies that Starknet cannot resolve independently, and is primarily contingent on Ethereum’s quantum upgrade roadmap.

CME Group announced the launch of products including standard and micro contracts for more than 50 leading U.S. stocks. The new offerings will consist of 55 large-scale contracts and 22 micro futures contracts, with tradable underlying assets covering Alphabet, Amazon, Apple, Meta, Nvidia, and SpaceX.

Wall Street investment bank TD Cowen has cut its price target for Bitcoin-focused firm Strategy (STRC) from $400 to $260, a roughly 35% reduction, while retaining its "Buy" rating. The firm described the digital credit capital framework unveiled by the company on Monday as a "gradual positive" for credit visibility and capital flexibility. Analysts clarified that the target cut stems primarily from adjustments to Bitcoin price forecasts, not the framework itself. TD Cowen lowered its end-2026 Bitcoin price projection from ~$140,000 to ~$100,000, and its end-2027 forecast from $190,000 to ~$135,000. The $260 price target still implies over 200% upside from Strategy’s Monday closing price of $92.68, a gap analysts admit "may appear unrealistic." Regarding the new framework, Strategy has rebuilt its U.S. dollar reserves to $2.55 billion. The company issued over 12 million common shares in the past week and did not purchase any Bitcoin. TD Cowen said this move helps restore investor confidence in the company’s ability to weather long-term Bitcoin downturns. Current reserves cover more than 17 months of minimum preferred stock dividend and interest obligations; adding the authorized Bitcoin monetization capacity brings that coverage to roughly 26 months. The firm also approved up to $1 billion in preferred stock repurchases and $1 billion in common stock repurchases. TD Cowen noted this marks a shift for Strategy from one-way share issuance to active capital structure optimization. The Bitcoin monetization plan is capped at $1.25 billion, with proceeds earmarked to replenish U.S. dollar reserves. Additionally, STRC’s preferred stock dividend rate was raised from 11.5% to 12% to stabilize its trading price near its $100 par value. The security recently traded at a 26% discount to par due to Bitcoin’s price decline.

According to HTX market data, SYN has rallied more than 67% in the past 24 hours, currently priced at $0.68, with its market capitalization climbing to $152 million, surging 14-fold over the past 30 days. BlockBeats reported yesterday that Arthur Hayes took to social media to express bullishness on the Hyperliquid ecosystem, specifically highlighting Hypercall—SYN’s options DEX project—and stating it has the potential to challenge legacy options trading platform Deribit. On-chain data ahead of his post revealed that Arthur Hayes’ address acquired 6.16 million SYN tokens via FlowDesk, for a transaction value of roughly $2.2 million.

According to The New York Times, Iranian negotiator and Deputy Foreign Minister Ali Garibabadi this week reaffirmed Iran’s permanent control over shipping in the Strait of Hormuz, rejecting the internationally recognized shipping lane arrangement established in 1968—a stance that has sparked new tensions in the fragile ceasefire between the U.S. and Iran. The 1968 lane agreement, negotiated by then-officials from Iran and Oman and approved by the UN International Maritime Organization (IMO), was primarily designed to address collision risks for supertankers navigating the 24-mile-wide waterway. It also carries legal significance given the overlapping territorial waters of Iran and Oman and the absence of neutral international waters in the central part of the strait. Garibabadi noted that the agreement predates the 1979 Islamic Revolution, stating, “We have now informed Oman that these shipping lanes must be changed,” and added that the two sides have decided to launch expert and technical-level negotiations on adjusting the lanes. Ali Vaez, director of the Iran Project at the International Crisis Group, analyzed that Iran, as a regional military power at that time, did not need to use its geographic location as leverage, but now officials believe traditional shipping lanes allowing warships to pass through the strait pose a threat to Iran’s security. Jennifer Parker, an expert at the University of Western Australia’s Defence and Security Institute, said Iran is framing its position with more legal arguments to maximize its leverage at the negotiating table. Notably, Iran has previously laid mines in the strait, effectively blocking the 1968-established lanes; the U.S. and Oman have recently attempted to establish an alternative route in Omani waters south of the strait with U.S. military escort, but Garibabadi reiterated on Monday that Iran will refuse to recognize any such parallel lanes.

According to HTX market data, Bitcoin has fallen below $59,000, posting a 2.80% decline over the past 24 hours.