Bitcoin's Prolonged Sideways Trading Challenges Perceptions of a Bearish Trend

Avalanche Treasury Co., backed by the Avalanche Foundation, is set to acquire a significant amount of AVAX through a merger with Mountain Lake Acquisition Corp. The company plans to focus on institutional AVAX exposure, with an initial $200 million token purchase at a discounted price.

Lighter, a new entrant in the perpetuals race, has launched its public mainnet as an Ethereum-settled alternative with custom zero-knowledge circuits for verification and asset custody on Ethereum. The platform aims to offer centralized-style performance while anchoring settlement and finality to Ethereum.

The DoubleZero Foundation has launched its mainnet-beta, providing a private highway system for blockchains to communicate faster and more efficiently. By using DoubleZero's fiber routes, Solana validators can process transactions with reduced lag, improving performance and reliability for end users.

GSR, a major crypto market maker, is acquiring Equilibrium Capital Services to fast-track its entry into U.S.-regulated securities activity. This move allows GSR to offer investment banking services to traditional companies and crypto startups seeking to raise funds.

Bitcoin ETFs saw a surge in inflows, with BlackRock's IBIT fund leading with $405.5 million. Ethereum ETFs also attracted investors, with ETH funds receiving $80.9 million on Wednesday alone. Analysts attribute the increased inflows to various macro and market-specific factors.

Polymarket is set to reopen to U.S. users after acquiring a CFTC-licensed exchange and clearinghouse, with the platform potentially launching as early as today. The self-certification of event contracts has cleared the way for the U.S. platform to go live.

Crypto.com plans to introduce DeFi-backed loans for customers through a partnership with Morpho, a decentralized finance lending protocol. The collaboration aims to allow customers to borrow against their crypto holdings without selling them, expanding the DeFi lending market.

Thailand's SEC plans to expand ETFs beyond bitcoin, allowing local institutions to issue funds under new rules. The country aims to include a basket of cryptocurrencies in ETFs to attract young investors seeking diversification.

Bitcoin U.S. ETFs saw a significant inflow of $675.8 million, with BlackRock's iShares Bitcoin Trust leading with $405.5 million, pushing its total net inflows to $61.376 billion. The surge coincided with Bitcoin's 4% gain, climbing over $119,000.

A motion submitted by two Sweden Democrats members proposes examining the creation of a national Bitcoin reserve to diversify state holdings and provide inflation protection. The lawmakers argue that Bitcoin could complement gold and foreign exchange reserves, positioning Sweden for a potential shift in the global financial infrastructure.