Overall, despite WBTC recently facing cross-chain security incidents and rising leverage costs leading to a short-term pullback and a divergence in capital flows, its price remains above major moving averages, maintaining a bullish pattern. Protocol security upgrades and sustained institutional accumulation jointly reinforce its long-term value support. Resistance appears above $79,000, so short-term risk control is advisable while monitoring for market bottoming signals; in the medium to long term, WBTC still holds allocation value. It is recommended to accumulate in batches within the $70,000–$73,000 price range, awaiting confirmation of a new major upward trend.

Since the end of March, WBTC has steadily climbed from around $66,000 to near the $79,000 range, recording multiple new highs alongside a noticeable increase in trading volume, indicating major capital participation at mid-to-high price levels. Recently, the price saw a correction of about 3%, but with a significant drop in intraday volume, suggesting that the long-short divergence has not widened and the short-term pullback resembles a process of accumulation. From the perspective of medium- and long-term moving averages, the price remains firmly above the main moving averages, maintaining a bullish alignment and an overall positive technical outlook.

Recently, WBTC has faced multiple security challenges in cross-chain scenarios, especially after incidents where third-party protocols suffered fund thefts. In response, the community and core team quickly deployed multi-signature authentication and temporarily suspended some cross-chain functionalities. Although these measures have had some short-term negative impact on cross-chain liquidity, raising the threshold for decentralized validation networks (DVN) and multi-signature approval processes has significantly improved protocol security, helping restore market confidence and reduce future systemic risks.

Volo Protocol suffered a hack resulting in a loss of approximately $3.5 million from three vaults containing WBTC, XAUm, and USDC, occurring just days after the KelpDAO breach.

Another DeFi protocol loses millions in hack days after KelpDAO breach

Wrapped Bitcoin (wBTC), a leading Bitcoin derivative on Ethereum, is enhancing its cross-chain DVN security following the $293 million KelpDAO exploit via LayerZero. The upgrade includes moving to a multi-signature system requiring multiple verifiers and temporarily pausing LayerZero transfers. Despite broader DeFi outflows, wBTC remains resilient with net inflows and a $9.2 billion market supply, underscoring its crucial role in DeFi ecosystems.

‘Precautionary’ - Wrapped Bitcoin (wBTC) tightens security after KelpDAO $293M exploit

WBTC announced it is upgrading the cross-chain DVN (decentralized validation network) configuration as a preventive measure to enhance cross-chain integration security following the recent rsETH incident. The upgrade is expected to be completed by April 26, with further updates to be released as needed.

WBTC: Cross-chain DVN configuration upgrade expected to be completed by April 26.

On April 22, 2026, Volo Protocol, a liquid staking platform on the Sui blockchain, suffered a $3.5 million exploit affecting three vaults (WBTC, XAUm, USDC). While the cause remains under investigation, the breach raised concerns about potential systemic vulnerabilities in the rapidly growing Sui DeFi ecosystem, which holds over $1.2 billion TVL. Volo froze operations, secured unaffected vaults, and pledged full reimbursement, highlighting the need for stronger security measures.

Volo Exploit Raises Security Concerns Across Sui DeFi Ecosystem

At the derivatives market level, WBTC and related contracts have seen a continued decline in funding rates, reflecting rising costs for long positions and a cautious approach among traders. Meanwhile, leading exchanges have adjusted their margin requirements and leverage tiers for WBTC, moderately raising collateral ratios and curbing high-leverage entries to some extent. While some capital has shifted to the futures segment in search of higher yields, overall, risk appetite is heavily polarized, with short-term investor sentiment remaining defensive.

Glassnode's latest report highlights intensified market tug-of-war with spot CVD turning negative, indicating increased selling pressure and emerging bearish sentiment. Futures show rising risk appetite but declining long funding rates, reflecting growing bearishness. Options suggest reduced downside protection demand and neutralizing volatility. Meanwhile, US spot ETFs see rising MVRV and inflows, boosting investor interest and supporting cautious optimism amid stable long-term holder confidence.

Glassnode: Market bullish and bearish struggles intensify, spot CVD turns negative indicating increased selling pressure, but ETF inflows provide support.

Binance announced it will adjust the collateral ratios for multiple assets including WBTC and CAKE in Portfolio Margin and PMPro starting April 24, 2026, at 14:00 Beijing time. Additionally, Binance Futures will update the leverage and margin tiers for 19 USDT-margined perpetual contracts, such as ARKMUSDT and BOMEUSDT, effective April 24, 2026, at 14:30 Beijing time.

Binance Will Adjust Multi-Asset Margin Rates and USDⓈ-Margined Contract Leverage Tiers

On-chain and public market data shows that listed companies and long-term holder accounts are continuously accumulating Bitcoin, with large-scale purchases by major institutions further consolidating confidence in large-asset allocation. At the same time, WBTC has maintained positive net inflows within the Ethereum DeFi ecosystem, indicating that the asset retains sound liquidity and demand support even amid short-term fluctuations. Moreover, with current shorting costs elevated and short-term holders gradually recovering their positions, the market is poised for a new round of allocation opportunities following a period of consolidation.

According to SoSoValue data, global publicly listed companies (excluding mining firms) saw a strong rebound in Bitcoin purchases last week, with net buys reaching $2.542 billion, a 154.2% increase from the previous week. Strategy (formerly MicroStrategy) led with $2.54 billion spent on 34,164 BTC, bringing its total holdings to 815,061 BTC. Four other companies also increased their BTC holdings. Overall, these companies now hold 1,081,576 BTC, valued at approximately $81.65 billion, representing 5.4% of Bitcoin's circulating market.

Data: Global publicly listed companies' BTC buying power strongly rebounds, with weekly net purchases exceeding $2.5 billion, hitting a recent high.

Arbitrum Bridged WBTC (Arbitrum One)

Mitsubishi UFJ: If the Federal Reserve emphasizes inflation risks, the US dollar may rise.

Gold: Rising oil clouds Fed easing hopes – OCBC

The market is focused on the Federal Reserve's assessment of rising inflation and its policy path.

Reminder: Please pay close attention to the following (all times are in Beijing time).

Australia’s inflation remained above the Reserve Bank’s 2-3% target band as higher fuel costs from Middle East supply disruptions compounded already-elevated price pressures to keep policymakers on a tightening path.

Uncertainty around the economic outlook and a leadership transition at the US central bank loom large over this week’s meeting of Federal Reserve officials, who are expected to leave interest rates unchanged on Wednesday.

Economists: The Federal Reserve will keep interest rates unchanged, waiting for changes in employment and inflation.

Mexico’s central bank will consider one more interest rate cut at its May meeting that may bring an end to the easing cycle it started two years ago, Governor Victoria Rodriguez Ceja said.

The Fed is set to hold rates in what’s likely Powell’s last meeting as chair - then it’ll be Kevin Warsh’s turn in what has become a political hotseat under Donald Trump

UAE Quits OPEC After 59 Years, BTC Slides Below $76K Amid Hormuz Supply Shock

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