Bank of America says U.S. banks are heading for multi-year onchain future

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.

Filecoin (FIL) has seen a significant decline of 5%, dropping to $1.24 as the cryptocurrency market experiences a broader downturn, characterized by heavy trading volume that is 380% above average. This technical breakdown raises concerns about the stability of the asset.

Bank of America has forecasted that U.S. banks will begin integrating stablecoins and tokenized deposits by 2027, as the Office of the Comptroller of the Currency (OCC) and the Federal Deposit Insurance Corporation (FDIC) establish new regulations to facilitate this transition.

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.

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.