Weekly Crypto Recap: Bitcoin Hits Yearly Highs and Bitget Suffers Major Hack

Bitcoin reached its highest level since January this week, closing above its 50-week moving average for the first time in 45 weeks. While the market showed signs of a potential altseason, Bitcoin's momentum faced pressure following the expiration of $15.6 billion in options on Deribit. Meanwhile, the NYSE announced plans to explore tokenized securities in partnership with Blockchain.com, and the Fed and CFTC advanced new regulatory frameworks for stablecoins and tokenized assets. Additionally, Bitget reported a $351.6 million theft, marking the largest crypto hack of the year, with investigations pointing toward North Korean involvement.