Bitcoin is trading at $63,671.32, up 1.60% over the past 24 hours, while Ethereum has climbed to $1,723.81, up 1.64% over the same period — a modest rebound following the four-day decline that took Bitcoin below $62,400 in the wake of Wednesday's hawkish Fed dot plot and the STRC-driven credit market stress.What funding rates reveal beneath the price actionDespite the price recovery, funding rates across major trading platforms tell a more cautious story. BTC funding rates are below the bullish threshold on all platforms, with roughly half turning negative — indicating that the price increase has not been accompanied by a corresponding recovery in bullish sentiment among leveraged traders. ETH funding rates are similarly in bearish territory across platforms, though most remain positive, suggesting Ethereum sentiment is comparatively less negative than Bitcoin's at this moment.A funding rate of 0.01% represents the neutral benchmark. Rates above that threshold typically indicate bullish positioning, where long traders are paying shorts to maintain leveraged positions. Rates below approximately 0.005% indicate bearish positioning, where the balance of leveraged demand has shifted toward shorts or simply away from aggressive long conviction.Why this divergence mattersThe gap between rising spot prices and weak funding rates is a meaningful signal in itself. When price rises but funding rates stay low or negative, it typically suggests the rally is being driven by short covering or spot buying rather than fresh leveraged long conviction — a pattern consistent with what derivatives data showed during Monday's earlier short-squeeze-driven bounce to $66,000 following the initial US-Iran deal confirmation.This pattern also lines up with the broader market structure described throughout the week: more than $450 million in long liquidations following Wednesday's Fed meeting, elevated put option demand targeting a potential slide to $52,000, and persistent negative cumulative volume delta across most major tokens. Traders who were burned by the post-FOMC selloff and the STRC credit scare appear to be treating today's bounce with caution rather than re-leveraging aggressively into long positions.The broader contextToday's modest recovery arrives against a backdrop of accumulating structural signals — Glassnode's Accumulation Trend Score at its maximum reading, K33's record 79% long-term holder supply share, and CryptoQuant's Sharpe ratio hitting historical cycle-bottom levels — all of which suggest underlying demand conditions have been improving even through the week's volatility. The disconnect between that accumulation picture and today's tepid funding rates may simply reflect the lag between spot-level accumulation by long-term holders and the return of confidence among shorter-term leveraged traders, who tend to be the last cohort to re-engage after a sharp selloff.Whether today's bounce extends or fades will likely depend on whether funding rates begin normalizing toward the bullish threshold in the coming sessions — a shift that would indicate leveraged traders are starting to share the conviction reflected in the broader on-chain accumulation data, rather than remaining skeptical of the recovery's durability.

The Algorand Foundation has released a roadmap for quantum-resistant upgrades, planning to begin a series of protocol changes in 2026 and aiming to achieve network-wide “quantum security” between the end of 2027 and 2028 to address potential future threats from quantum computing to current cryptographic systems. According to ChainCatcher, the roadmap’s first phase will introduce a post-quantum account system, multisignature wallets, and staking support. Later phases are expected to progressively upgrade core protocol components, moving toward a comprehensive cryptographic migration spanning from the wallet layer to underlying infrastructure. The report also noted that other blockchain ecosystems, including the Ethereum Foundation and Solana, have started similar research and migration planning related to quantum-resistant cryptography.

Spot gold extended its pullback this week, marking a third consecutive weekly decline. According to PANews, gold was among the assets facing the most pressure as market sentiment shifted between easing geopolitical risks and a more hawkish turn from the U.S. Federal Reserve. PANews attributed the continued weakness in spot gold to a stronger U.S. dollar, rising real yields on U.S. Treasury bonds, and hawkish signals from the Fed.

QCP Capital said Strategy’s runway before it runs out of cash for dividend payments has been extended to about 7.5 months. According to Odaily, QCP Capital added that in the short term, this pressure may continue to limit Bitcoin’s ability to fully participate in broader macro optimism.

ウォッシュ氏がFRB議長に就任した後、直面する最大の課題は、金利を引き上げるべきか引き下げるべきかということではなく、より根本的な判断、すなわち「現在のAIブームは、一体どのようなブームなのか」という点にある。この判断がFRBの政策の方向性を決定づけるだけでなく、ウォッシュ氏の歴史的な評価をも左右することになるだろう。

「金色週刊」は、金色財経が提供するブロックチェーン業界の週間まとめコーナーであり、その内容は、その週の注目ニュース、相場や先物データ、マイニング情報、プロジェクトの動向、技術の進展など、業界の最新動向を網羅しています。

グーグルは、自社開発チップの販売拡大を図るためデータセンターに保証を提供し、850億ドルの資金調達計画を背景に演算能力の顧客獲得競争に参入している。一方、ブロードコムはアポロ・マネジメントおよびブラックストーンと提携し、350億ドルのAI演算能力プラットフォームを設立するとともに、信用保証を提供している。

AllianceDAO、Cursor、プロジェクト、Alliance 創業チームから起業家への手紙：Cursorが600億ドルで売却されたことを受けて　金色財経、偉大な企業は、その存在が明らかになる前に、長い苦難の時期を乗り越えてきたものである。

ドイツ銀行は、AIによる高帯域幅メモリ（HBM）への構造的な需要が、従来の生産能力を猛烈な勢いで圧迫しており、2027年までに供給不足を解消することは困難だと見ている。

スケールアップは短期的なコストを押し下げると同時に、イーサリアムの決済におけるネットワーク効果を拡大させている。

同氏は、米国政府が懸念を表明した後、同局が迅速に対応し、「非常に責任ある」姿勢を示したと述べた。同局を閉鎖するつもりはないが、法律で認められた緊急権限を行使して介入せざるを得ないかどうかは定かではないとした。

相場、BTC、株価が1ヶ月で32％急落：世界で最も多くのビットコインを保有する企業に何が起きたのか？ 金色財経、株価は1ヶ月で3割下落、致命的な欠陥ではない。

40万件の対話データから、AIがプログラミングの参入障壁を下げると同時に、分野ごとの判断の価値を高めていることが明らかになった。

新たな成長の道筋を見出すため、ますます多くの鉱業企業がAI分野への参入を加速させており、この変革の動きは資本市場から急速に支持を集め、多くの鉱業企業の株価が大幅に上昇し、過去最高値を更新するケースさえ見られる。