Over the past few days, Bitcoin and other top cryptocurrencies have seen their prices plummet as investors book profits following a brief rally on Friday triggered by comments from US Fed Chair Jerome Powell that hinted at a rate cut in the coming month.
Although the market is in the red, analysts at Coinbase remain optimistic about the future of digital currencies, especially stablecoins. Here is the full story and other developments that have caught the attention of crypto investors this week.
Coinbase Says Stablecoin Market Cap Could Rise to $1 Trillion in 3 Years
According to analysts from leading US-based crypto exchange Coinbase, the total market cap for stablecoins (digital currencies pegged to fiat currencies like USD and the euro) could reach $1 trillion by December 2028.
Their prediction is based on growing institutional interest in stablecoins as crypto regulations become clearer under the Donald Trump regime. As of August 2025, the total stablecoin market cap sits at $253 billion, according to data from Stablecoin.com.
Onchain Looker Links Kanye West YZY Sniper Wallet to LIBRA Extraction Scheme
Pseudonymous onchain observer Dethective revealed on Saturday that the same wallet that sniped millions of LIBRA tokens and made $21 million earlier this year, also managed to purchase Kanye West’s YZY coin early, pocketing nearly $1 million.
Dethective said the wallet bought YZY tokens at $0.20, way below the price that most investors paid. They also claimed that the operator behind the wallet in question could be someone with insider knowledge, given their timely entries in the two tokens.
Glassnode: BTC’s 4-Year Cycle Isn’t Dead
While some crypto enthusiasts argue that increased institutional involvement in the industry may have ended Bitcoin’s historical four-year cycle, analysts at Glassnode say the coin’s current price action is echoing prior patterns.
They claim that profit-booking among BTC long-term holders (wallets holding Bitcoin for at least 155 days) has intensified recently, suggesting that the bull cycle is in its late stage. Additionally, Glassnode has noted weakening demand at higher levels, indicating that investors may be leaving the market.
My “Bitcoin to $100” Prediction was Wrong, Economist Kenneth Rogoff Admits
Seven years ago, economist at Harvard, Kenneth Rogoff, said Bitcoin’s price was more likely to drop to $100 than rally to $100,000, arguing that governments around the world would impose unfavourable regulations, thus fueling the crash.
However, over the weekend, he wrote a post on X, admitting that he was wrong. Still, Rogoff appears uninterested in getting involved in the crypto space.
Philippine Lawmaker Introduces Bill Seeking to Create a National Bitcoin Reserve
Philippine lawmaker Migz Villafuerte has tabled a proposal aimed at establishing a national Bitcoin strategic reserve, which would put the Philippines among the first Southeast Asian countries to add BTC to their reserves.
If Villafuerte’s bill is approved, the Philippines’ Central Bank will be required to buy 2,000 Bitcoin yearly for five years. The purchased BTC will be locked for 20 years.
Analysts Notice “God Candle” on the ETH’s Price Chart, Predicts a Rally to $6,000
Crypto analysts at CoinTelegraph have said that Ethereum formed a “God Candle” on Friday after rallying from $4,190 to $4,700 within minutes following Powell’s dovish speech. Typically, when a price chart shows a God Candle, it suggests increased buying pressure. As such, cryptocurrencies tend to record massive gains. Now, CoinTelegraph analysts say Ethereum could be on its way to $6,000 if buyers maintain momentum.
Interpol Arrests Illegal Crypto Miners in Angola
On Thursday, Interpol (the International Criminal Police Organization) arrested several people in Angola accused of engaging in illegal crypto mining. During the crackdown, mining equipment worth $36 million was seized and handed to the Angolan government.
In its statement, Interpol revealed that the arrested individuals were Chinese, who operated 25 mining centers in Angola.
The latest crackdown on illegal crypto miners follows Angola’s move to ban mining in April 2024 to address power supply issues in the country.
