Bitcoin bounces off 200-week MA as TAO, HYPE, and ETH eye…

Bitcoin's price has held the 200-week moving average — a level that has historically marked the beginning of a bottoming process rather than a precise floor. The ABR CEO, appearing on Fox Business, noted that BTC volatility is compressing: peak-to-trough drawdowns have narrowed from 80% in prior cycles to roughly 50% this cycle, with the current pullback running from approximately $125K to around $60K. The next 90 days, he argued, should see a bottom form — with confirmation of a bull market requiring Bitcoin to reclaim and hold above the 200-day moving average, currently near $78K.

Why it matters

Three altcoins are drawing attention in this environment. Hyperliquid (HYPE) set a new open interest record every month since its October 2025 launch, with RWA open interest hitting $3 billion. Coinbase is now the official deployer of Hyperliquid's USDC treasury wallet, adding institutional legitimacy. Bittensor (TAO) is positioned as the decentralized AI network play — early AI startups are plugging into the network as OpenAI and SpaceX IPO excitement lifts risk appetite broadly. On the Ethereum side, 32.3% of total ETH supply is now staked at an all-time high, yet only 11% of the ETH supply sits in profit — the lowest level since February 2017 — suggesting a heavily underwater holder base that historically precedes mean-reversion rallies.

Market impact

The SpaceX IPO narrative is acting as a broader risk-appetite catalyst, with capital rotating toward crypto projects showing real product-market fit. Over 200 companies have urged the Senate to pass the Clarity Act, adding regulatory tailwind for Ethereum and the broader sector. The SBF pardon application adds headline noise but carries no direct market impact for now.