PDAXScope: BTC near $75K, ETF debut, Tether recovery

Bitcoin rally is taking a breather near $75,000. Onchain data shows why (CoinDesk)

Bitcoin’s rally is slowing down near the $75,000 level as some investors begin selling after recent gains, as reported by CoinDesk. The upward rally has slowed as on-chain data reportedly shows that holders are taking profits at elevated prices, creating resistance and causing the rally to temporarily pause rather than continue upward.

Morgan Stanley Bitcoin ETF rakes in $100m as Wall Street follows suit: ‘Excellent number’ (DL News)

Morgan Stanley’s new Bitcoin ETF pulled in about $100 million within its first week of trading, as reported by DL News. Analysts described the figure as a strong start, showing solid demand from investors and signaling that major Wall Street firms are increasingly moving into crypto products to keep up with growing interest.

Tether announces $150M recovery program for Drift Protocol (Cointelegraph)

Tether is helping fund a $150 million recovery plan to support users affected by the Drift Protocol hack, as reported by Cointelegraph. The move follows a major exploit that resulted in roughly $285 million in losses, with the fund aimed at helping users recover funds and stabilizing the platform as it works toward relaunching.

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