News

Jinse Finance reported that renowned trader and chart analyst Peter Brandt, based on the power law model chart from technical analysis firm JDK Analysis, believes that Bitcoin may bottom out at $60,000. According to Cointelegraph's analysis, BTC's weekly chart has confirmed a descending wedge pattern after the price lost support from the trendline at $114,550 under this pattern. Bulls are currently striving to keep the price above the 50-week simple moving average (SMA), which is now at $103,300. Other key support levels include the psychological threshold of $100,000 and the 100-week moving average at $82,000. If Bitcoin's weekly closing price falls below this area, Bitcoin will move toward the wedge target price of $72,000, representing a 30% drop from the current price.

ChainCatcher news, UBS Group has announced that it has completed an end-to-end instant tokenized fund transaction in a production environment using the Chainlink Digital Transfer Agent (DTA) technical standard. This transaction was jointly executed by UBS Tokenize and DigiFT, involving the first on-chain subscription and redemption of the UBS US Dollar Money Market Investment Fund token, uMINT. It is reported that the process covers all aspects of the fund lifecycle, including order receipt, execution, settlement, and data synchronization between on-chain and off-chain systems. As the on-chain fund distributor, DigiFT completed the automated settlement of uMINT shares based on the Chainlink DTA standard. Mike Dargan, Chief Operations and Technology Officer at UBS, stated that this transaction demonstrates the potential of smart contracts and standardized technology to enhance fund operational efficiency and investor experience. Sergey Nazarov, co-founder of Chainlink, said that this achievement sets a new industry benchmark for institutional-grade tokenized finance. Henry Zhang, founder of DigiFT, added that using the Chainlink DTA standard enables real-time subscription and redemption operations that can be directly integrated with institutional custody systems.