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According to CoinDesk, Bitcoin is currently priced at $74,700, down 0.4% in the last 24 hours. News of ceasefire negotiations between the U.S. and Iran has boosted risk sentiment, with the S&P 500 index reaching a record high on Thursday. Trump stated that the prospects for a permanent ceasefire between the U.S. and Iran "look very optimistic," claiming that Iran has agreed to abandon its nuclear ambitions, hand over nuclear materials, and reopen the Strait of Hormuz, although Iran has not yet confirmed these concessions.Meanwhile, the market is closely monitoring the structural signals behind Bitcoin's price movements. ZeroStack CEO Daniel Reis-Faria stated, "The funding rate is so negative that it indicates the market is heavily short. If Bitcoin continues to rise in this context, a large number of short positions may be forced to close, further accelerating the price upward." He predicts that if the short base is forced to cover, Bitcoin could reach $125,000 within the next 30 to 60 days.On-chain analyst CryptoVizArt provided another perspective: Bitcoin's "True Market Mean" (TMM) shows that the average cost basis of active holders is currently above the market price, indicating that holders are overall in a state of unrealized losses. Since 2016, consistently falling below this mean has often coincided with Bitcoin's most severe downturns, including the bear market from 2018 to 2019 (with a maximum drop of 57%, lasting 282 days) and the decline following the Luna and FTX collapses from 2022 to 2023 (with a maximum drop of 56%, lasting 339 days).Analysts point out that these two judgments are not mutually exclusive—the short squeeze triggered by the extremely negative funding rate and the structural pressure of overall unrealized losses among active holders can coexist. The former may trigger a significant rise, but ultimately could be absorbed by selling from the latter. The future market direction may depend on whether the U.S.-Iran ceasefire can be sustained after its expiration next week.

According to Cointelegraph, stablecoin issuer Circle is facing a class-action lawsuit in the U.S. District Court for the District of Massachusetts for failing to freeze the stolen funds from the Drift Protocol during the attack incident.The plaintiffs claim that the attacker transferred approximately $230 million USDC from Solana to Ethereum within hours using Circle's Cross-Chain Transfer Protocol (CCTP), and Circle did not intervene. The lawsuit accuses Circle of complicity and incitement to misappropriation and negligence. Crypto analytics firm Elliptic previously suspected that the attack may be related to North Korean-backed hackers, and the related funds were subsequently exchanged for ETH and transferred via Tornado Cash.

Charles Hoskinson, the founder of Cardano, stated that Bitcoin's quantum defense proposal BIP-361 has been mischaracterized as a soft fork, and is actually closer to a hard fork, and it cannot protect approximately 1.7 million early BTC generated before 2013, including about 1 million bitcoins attributed to Satoshi Nakamoto.He mentioned that the zero-knowledge proof recovery scheme in the proposal relies on BIP-39 mnemonic phrases, while early wallets used different key generation methods that cannot provide the required proof, thus the relevant assets may be permanently frozen under the current scheme. Reports also indicated that BIP-361 co-author Jameson Lopp described it as a rough concept for an emergency plan, rather than a final specification.

The Ethereum Foundation announced that its jointly initiated ETH Rangers project has completed a 6-month operation. The project aims to fund independent researchers who contribute to public safety for the Ethereum ecosystem. Seventeen grantees have achieved multiple results in vulnerability research, security tool development, threat intelligence, and incident response, including: recovering or freezing over $5.8 million, reporting or documenting over 785 vulnerabilities and client issues, identifying about 100 attackers, providing security education content covering over 209,000 users, and handling over 36 security incidents.In addition, the project has also encouraged over 800 teams to participate in security challenges, produced over 80 technical sharing and training sessions, and developed or improved more than 7 open-source security tools. The Ethereum Foundation stated that the related results indicate that decentralized networks require "decentralized defense" and effectively enhance the overall security and resilience of the Ethereum ecosystem.

According to market news, Blockstream CEO Adam Back stated at the Paris Blockchain Week that he supports the optional advancement of Bitcoin's quantum resistance upgrade and opposes the proposal to forcibly freeze quantum-vulnerable addresses. He emphasized that "preparation is much safer than hasty responses in a crisis" and pointed out that the Bitcoin community has the coordination ability to respond quickly to urgent vulnerabilities.Previously, the BIP-361 proposal ("Post-Quantum Migration and Legacy Signature Sunset") put forward by developers Jameson Lopp and five others advocated for the gradual elimination of quantum-vulnerable addresses over five years, ultimately freezing coins that have not completed migration— including approximately 1.7 million Bitcoins held by Satoshi Nakamoto.

According to CoinDesk, Blockstream CEO Adam Back stated at Paris Blockchain Week that Bitcoin developers should advance optional quantum-resistant upgrades as early as possible, even though practical quantum computers are still far from being realized.He pointed out that Taproot's flexible design can support the introduction of new quantum-resistant signature schemes without affecting existing users. Previously, Jameson Lopp and others proposed BIP - 361, which aims to gradually phase out addresses vulnerable to quantum attacks within 5 years and freeze Bitcoin that has not completed migration. Adam Back believes that the Bitcoin community can quickly coordinate responses in emergencies without the need for pre-established freezing arrangements.

According to official news, BitMEX Research has released a new research article proposing that in response to the risk of future quantum computers potentially breaking elliptic curve signatures, the Bitcoin network could adopt an alternative soft fork mechanism to "directly freeze" to reduce controversy and increase flexibility.The proposal revolves around "quantum-vulnerable fund freezing," but suggests avoiding the direct freezing of all related assets without evidence, instead gradually implementing security strategies through a verifiable condition-triggering mechanism. The core of the proposal is to establish a "signal vault," which contains special addresses generated using "accidental numbers" to prove that no one possesses their private keys. If passive spending occurs from that address, it will be regarded as on-chain evidence that quantum computing capabilities genuinely exist, thereby immediately triggering a comprehensive freeze of quantum-vulnerable assets.At the same time, the fund could attract capital through a multi-signature structure as a "quantum bounty," aimed at incentivizing potential attackers to expose their capabilities. The article also mentions that there is currently a BIP-361 proposal promoting the phased disabling of the old signature system and ultimately freezing risky assets, but this proposal is controversial due to its involvement in "mandatory freezing."The newly proposed "signal-trigger + security window" mechanism aims to replace the fixed-time freeze path, reducing potential system shocks while retaining Bitcoin's censorship-resistant characteristics, but it also brings complexity and execution risk trade-off issues.

Bitcoin core developer Jameson Lopp stated that, compared to the potential quantum computing attacks that may arise in the future, he prefers to "freeze" about 5.6 million long-dormant BTC from the network rather than let them be acquired by attackers. These Bitcoins have not moved for over 10 years and may be permanently lost, valued at approximately $42 billion at current prices. If future breakthroughs in quantum computing lead to the decryption of old address private keys, this portion of assets could be re-transferred, triggering severe market fluctuations or even a crisis of confidence.Although the community recently proposed BIP-361, the proposal is still in its early stages and is not an officially promoted plan, but rather more like a contingency plan to address "extreme risks."

According to market news, Cypherpunk Jameson Lopp and several experts in the field of Bitcoin quantum security have proposed Bitcoin Improvement Proposal BIP-361, which suggests freezing quantum-vulnerable addresses, including Satoshi Nakamoto's reserves, to prevent future quantum computers from stealing approximately 1.7 million Bitcoins.The proposal is to be implemented in three phases: first, prohibiting transfers to legacy addresses; second, invalidating legacy signatures and freezing untransferred assets after five years; and finally, allowing some users to recover frozen funds through a zero-knowledge proof mechanism. This proposal aims to promote the migration of the entire network to quantum-resistant addresses, but it has faced opposition from some community members who believe it contradicts the decentralized ethos of Bitcoin and has a predatory nature.

According to a report by Jinshi citing a reporter from Iranian state television, Iran's red lines include the Strait of Hormuz, the payment of war reparations, the unfreezing of Iran's frozen assets, and a ceasefire throughout the region.

According to Jinshi reports, the White House stated that U.S. officials deny that the U.S. has agreed to unfreeze Iranian assets.

Circle Chief Strategy Officer Dante Disparte published a response regarding the over $270 million theft incident involving Drift Protocol. Disparte stated that Circle only freezes USDC when legally mandated to do so, and this is not a unilateral decision, nor is it a backdoor or algorithmic monitoring. This reflects the rule of law in internet-native financial activities.He pointed out that the core issue facing open systems is that the legal framework's response speed lags behind technological development. Protocols, wallets, exchanges, and stablecoin issuers should regard security and accountability as a shared obligation, and DeFi protocols can develop on-chain technical protection measures by referencing the circuit breaker mechanisms of traditional markets.He also called for the legislative processes of the U.S. GENIUS Act and CLARITY Act to incorporate due process, property rights, and financial privacy protection standards into law before the next major security incident occurs.

According to Jinshi News, CITIC Securities pointed out that the U.S. non-farm payroll data showed that 178,000 new non-farm jobs were added in March, exceeding expectations, partly driven by the repair of short-term disturbances. Although the structure of employment growth has improved compared to February, many industries still show low growth. If the U.S.-Iran conflict continues, it is expected to put pressure on the global supply chain, and U.S. employment may still face pressure in the future. Currently, the upward risk of inflation is squeezing the Federal Reserve's space for interest rate cuts.

According to Cointelegraph, the joint law enforcement operation "Operation Atlantic" by the United States, the United Kingdom, and Canada was completed in March this year, led by the UK's National Crime Agency (NCA). Over $12 million in suspected fraud proceeds were frozen, and more than 20,000 victims were identified, with a total fraud amount exceeding $45 million.This operation focused on authorized phishing attacks—a scam technique that induces users to sign malicious authorizations, thereby allowing attackers to transfer tokens from the wallet. Binance participated by providing account screening and fraud intelligence support, but no funds were frozen from its platform.

The American law firm Gibbs Mura has officially announced a collective lawsuit investigation regarding the Drift Protocol theft incident, involving a fund scale of approximately $280 million to $285 million. It is reported that over $230 million USDC was transferred to Ethereum via Circle's Cross-Chain Transfer Protocol (CCTP).Gibbs Mura believes that although Circle has the technical capability to freeze funds, it did not take freezing action during this attack. The law firm is currently assessing whether investors can file claims against Circle for "failure to intervene in a timely manner," "insufficient monitoring," and "failure to fulfill stablecoin responsibilities," and is calling on affected users to participate in the lawsuit to advance fund recovery.

According to The Block, Bitcoin has fallen below $66,000, with a 24-hour decline of 3.7%, continuing to fluctuate between $60,000 and $70,000 in recent weeks.Glassnode states that spot demand is beginning to absorb selling pressure, but it is not yet enough to drive sustained upward movement. It is estimated that 8 to 9 million BTC have a holding cost above the current price, forming a persistent "resistance" that suppresses rebounds, while long-term holders are still realizing losses at high levels, indicating that the stage of chip redistribution has not yet ended.In terms of derivatives, the funding rate has remained negative for most of the first quarter to date, meaning traders are paying a premium to hold short positions.Bitfinex analysts point out that "traders are willing to pay a premium to maintain downside exposure," and this concentrated short position pattern could trigger a short squeeze if upward momentum occurs. Demand in the options market has also declined, with implied volatility contracting and skew slightly leaning towards downside protection, indicating that investors prefer to hedge risks rather than bet on a breakout.On the macro front, Bitunix analysts indicate that the market has entered a "supply chain disruption" phase, with energy and industrial metal production being hindered and beginning to transmit inflation. Currently, liquidity for Bitcoin is concentrated between $69,000 and $70,100, with a key testing level below around $65,500.K33 notes that traders are entering the typically calmer Easter holiday window with a "cautiously aggressive" stance. From a long-term perspective, Pantera Capital founder Dan Morehead stated in a recent podcast that Bitcoin may need another six to eight months to bottom out, but he also believes that Bitcoin has reached "escape velocity," with institutional participation still close to zero, and the next round of increases will be driven by broader adoption.

According to The Block, Gnosis co-founder Friederike Ernst and Zisk founder Jordi Baylina jointly announced the "Ethereum Economic Zone" (EEZ) plan at the EthCC conference in Cannes on Sunday, which is co-funded by the Ethereum Foundation.The EEZ aims to create a framework for Rollups, allowing smart contracts on connected Rollups to perform synchronous composable calls with the Ethereum mainnet and other EEZ Rollups, with security guarantees equivalent to those directly deployed on Ethereum. The framework defaults to using ETH as the Gas token, eliminating the need for additional cross-chain bridge infrastructure. Ernst stated, "Ethereum does not have a scalability problem; it has a fragmentation problem. Every new L2 that goes live has its own liquidity pool and bridging, creating another isolated walled garden."Founding members of the EEZ alliance include the DeFi lending protocol Aave, block builders Titan and Beaver Build, the RWA platform Centrifuge, and the tokenized stock project xStocks. The project will operate as a Swiss non-profit organization, with all software released as open-source, aiming to minimize governance and ultimately achieve non-upgradability. Technical specifications and performance benchmarks are expected to be announced in the coming weeks.

On-chain detective ZachXBT stated on platform X that Circle has unfrozen two previously frozen hot wallets, marked as "500 Casino" and "Whale." Previously, due to the address being frozen, users were unable to withdraw from a certain centralized exchange to the affected business hot wallets.ZachXBT pointed out that, currently, the basic details of the case, such as the plaintiff, expert witnesses, and why Circle did not raise any objections, have not been disclosed. Earlier reports indicated that ZachXBT stated Circle, under public pressure, had unfrozen one of the 16 USDC wallets that were blacklisted.

The UK Foreign, Commonwealth & Development Office and the Home Office jointly announced sanctions against the illegal cryptocurrency market Xinbi and individuals related to Southeast Asian scam networks. According to data from blockchain analysis company Chainalysis, Xinbi processed over $19.9 billion in transactions from 2021 to 2025, involving illegal activities such as money laundering, unlicensed over-the-counter trading, and the sale of stolen personal data. The UK is the first country in the world to impose sanctions on Xinbi.The sanctions also involve the operator of the Cambodian "#8 Park" scam base, Legend Innovation Co., and its head Eang Soklim, who is believed to be holding up to 20,000 trafficked workers. Meanwhile, multiple properties in London have been frozen, with previously seized assets including an office building valued at £100 million, two luxury homes, and a helicopter. UK officials stated that this action aims to cut off the financial infrastructure of the scam networks and will promote broader international coordinated cooperation at the illegal finance summit in June this year.

According to The Block, "on-chain detective" ZachXBT revealed that Circle has unfrozen one of the 16 USDC wallets that were previously blacklisted. The wallet address is 0x61f...e543, associated with Goated.com, and currently holds approximately 130,966 USDC. ZachXBT stated that the remaining affected wallets are expected to be restored in the near future.This unfreezing occurred after strong criticism from the public. Earlier reports indicated that Circle had frozen the USDC balances in 16 hot wallets related to different businesses, and ZachXBT claimed that this action was related to an undisclosed civil case in the United States, which is under confidentiality.ZachXBT harshly criticized this freezing action, stating that the parties involved did not provide any basis for the freeze and described it as one of the most incompetent freezing operations he has seen in his five years of work. MetaMask security researcher Taylor Monahan also criticized Circle on social media for lacking accountability mechanisms. Currently, Circle has not issued a public statement regarding the specific wallet or the legal basis for the freeze.