Les solutions layer-2 sur Bitcoin traversent une phase de remise en question sous l’effet d’un marché baissier, entre baisse des prix, recul des volumes et interrogations sur leur adoption. Investisseurs et développeurs réévaluent la viabilité de ces protocoles secondaires et leur capacité à s’imposer durablement. Cette situation pousse l’écosystème à ajuster ses priorités face à des conditions de marché changeantes.

Bitcoin traded above $64,000 on Saturday, briefly clearing $64,200 intraday and standing more than 8% above its June low near $59,000. The move followed $85.9 million of net inflows into U.S. spot bitcoin ETFs on Friday and market attention on Pakistan's prime minister saying a peace agreement is closer than ever, with finalisation expected within 24 hours.

Kalshi's rollout of CFTC-regulated crypto perpetual contracts has reopened a long-standing argument over how the instruments should be classified in U.S. markets. Market veterans are split on whether perpetuals align more with futures—exchange-traded and centrally cleared—or with swaps, given their funding-rate cash-flow mechanics. The answer could shape who can trade them and what rules apply, while concerns about manipulation around funding-rate calculations remain a key point of contention.