Market Updates: Bitcoin Rally Sparks $600M Liquidation Wave, HYPE Token Jumps on Arthur Hayes Endorsement, Swiss Banks Test CHF Stablecoin

Latest Market Updates: As of 8th April 2026.

Bitcoin Rally Sparks $600M Liquidation Wave

Bitcoin surged past the $71,000 mark on Wednesday, setting off a wave of liquidations across leveraged positions. Within just 24 hours, more than $600 million was wiped from the market, according to Coinglass.

Short traders bore the brunt of the losses, accounting for $430.88 million, while long positions made up $170.61 million. Bitcoin alone was responsible for $245.27 million in liquidations, followed by Ethereum at $128.22 million.

Swiss Banks Launch Stablecoin Testing Initiative

Amid the market turbulence, institutional players continue to focus on long-term infrastructure. UBS Group AG has partnered with five major Swiss financial institutions to test a Swiss franc-backed stablecoin within a regulated sandbox environment.

The initiative brings together Sygnum, PostFinance, Raiffeisen, Banque Cantonale Vaudoise, and Zürcher Kantonalbank, with technical support provided by Swiss Stablecoin AG.

Running through 2026, the sandbox will enable participants to explore real-world applications under controlled conditions. The primary objective is to assess client benefits while maintaining strict regulatory compliance.

Ark Invest Adds $13M Stake in Robinhood

In parallel with these developments, institutional capital continues to flow into crypto-linked platforms. Ark Invest recently acquired around $13 million worth of shares in Robinhood.

The move reflects sustained confidence from Cathie Wood’s firm in platforms that serve as key access points for crypto retail investors.

Fresh Speculation Over Bitcoin Creator

Beyond market activity, attention has once again turned to one of crypto’s longest-standing mysteries. A report from The New York Times has suggested that Adam Back could be Bitcoin’s creator, Satoshi Nakamoto.

Back, who leads Blockstream, is known for developing Hashcash, a system that influenced Bitcoin’s proof-of-work model.

However, he has repeatedly denied these claims. Consequently, the theory remains speculative and unconfirmed, continuing a long-standing debate.

HYPE Token Jumps After Arthur Hayes Endorsement

In the altcoin market, Hyperliquid’s HYPE token emerged as a standout performer. The token climbed 8% to $39.53 after receiving a public endorsement from Arthur Hayes, co-founder of BitMEX.

In a post on X, Hayes stated that HYPE is currently his primary investment focus. He also set a price target of $150 by August 2026, implying significant upside from current levels.

According to Hayes, Hyperliquid stands out due to its strong revenue generation among decentralized projects. His endorsement appears to have boosted market interest and short-term momentum.

The only thing we’re buying right now is $HYPE

— Arthur Hayes (@CryptoHayes) April 8, 2026