Filecoin slides 5% alongside major decline in broader crypto market

Bitcoin's price has slid to $86,000, significantly below its recent trading range, as concerns over slower rate cuts and issues in the AI stock market weigh heavily on investor sentiment. This decline is part of a broader downturn affecting the cryptocurrency market, with many assets experiencing increased sell pressure.

The U.S. Senate has decided to postpone the markup hearing for a cryptocurrency market structure bill until next year, delaying any potential legislative progress in the crypto sector. This decision comes amid ongoing debates and opposition from various consumer groups and unions who are challenging the current versions of the bill.

Hedera's native token, HBAR, has slid to its lowest point in a year as the cryptocurrency market faces significant downturns, with trading volume surging 86% above average during a resistance rejection. Late-session breakout signals suggest a potential reversal from the current bearish trend.

BNB has fallen below key support levels, trading under $865, as the cryptocurrency market cap approaches $3 trillion. This decline appears to be driven by broader market pressures rather than specific negative news related to BNB itself.

Bank of America has indicated that U.S. banks are transitioning towards a multi-year on-chain future, driven by expedited stablecoin regulations and charter rules that are integrating cryptocurrency into the regulated banking sector. This shift suggests a significant evolution in how traditional banks are approaching digital assets.

Internet Computer (ICP) has experienced a decline, slipping back toward recent lows after failing to maintain intraday gains. The trading volume remains elevated, indicating ongoing distribution near resistance levels, which reflects bearish sentiment in the market.

The TON token has extended its decline, dropping significantly more than the broader cryptocurrency market, which is currently experiencing volatility and uncertainty. The trading range has been marked by above-average volume, indicating active repositioning among traders.

Citizens has reported that prediction markets are emerging as a new asset class, expanding beyond traditional sports betting into macroeconomic and policy-related risks. This growth indicates a significant shift in how investors are viewing these markets, which remain small compared to stocks but are gaining traction.