“Plus: Another Publicly Listed Tech Company Is Building Out A Bitcoin Treasury.”, – WRITE: www.coindesk.com
Is Changing Hands Above $ 105.5k, A SLIGHT CORRECTION from $ 107k, WHERE IT SAT DURING The US BUSINESS DAY.
Despite the Geoplitical Upheaval of the Last Few Weeks – With The Us Strike on Iran, An Event That Surprized Both Geoplitical Scholars and Polymarket BetCh o Value. Coindesk Market Data Shows that Asset Class Has Been Fairly Stable Over the Last Month, up 1%.
But this return to a price point that look in inches from btc’s all-time High of $ 111k, WHICH IT HIT IN MAY, Feels More DisciplINED THAN Euphoric, Access.
Unlike The December 2024 Breakout Above $ 100k, WHICH TRIGGERED A WAVE OF PROFIT-Taking, Long-Term Investors Now Appear Content to Sit on Their Gains, AS GASNODE WROTE WROTE.
“Hodling appears to be the Dominant Market Mechanic,” Glassnode Analysts Wrote, City A surge in Long-Term Holder Supple to 14.7 Million BTC and Historical Low Realized. On -chain Activity Indicates A Limited Desire to Sell, Even As Btc Trades Just Below Record Levels.
Metrics Like the Adjusted Spenput Profit Ratio (ASopr) Also Reflect This Restraint, Hovering Just Above Breakeven, Accounting To Glassnode. This Suggests that the Coins Being Spen Are Recent Acquisitions. Think: Tactical Trades Rather Than Broad Distribution.
Meanwhile, Glassnode Data Shows the Lieliness Metric Continues to Deckline, Reinforcing that Older Coins Remain Dormont.
That patience is being Met with Persenti Institutional Demand, AS QCP Wrote In Itaily Markets Update.
Market Data Indicates that $ 2.2 Billion in Net Inflows to Btc Spot etfs Occurred Last Week, with QCP Describing The Tne As “Constructive” and Noting that Players Such as Strategy accountate.
These Steady Inflows Are Quietly Reshapping the Market’s Structure. Bitcoin’s Realized Cap, A Measure of the Price at Wich Coins Last Moved, Has Grown to $ 955 Billion, WHICH IS LIKELY A SIGN THAT REAL CAPITAL, NOT JUST SPECULATION, ISO MOZHTECULATION.
Still, not everything is calm underface. QCP Notes that levered long positions have been rising, with Funding Rates Turning Positive Across Majoor Perpetual Futures Markets.
Glassnode Warns that “The Market May Need to Move Higher, or Lower, to Unlock Additional Supple,” Suggesting this Equilibrum Between Long-Terem.
With btc barely moving after the Senate Approved The White House’s ‘Big Beautify Bill’, The Market Feels Less Like A Stampde and More Like A Standoff Between Long-TRIM HOLDERS WHO REFRI INTO LEVERAGE.
That fragile equilibrium have hket observers wondering whory the next catalyst will come come from and whather it could Make Btc’s Next Move Explosive.
(Coindesk)
Figma Holds $ 70m in BTC ETFS: FILINGDesign Software Firm FIRMA HAS DISCLOSED A $ 70 Million Position in the BitWise Bitcoin Etf (Bitb) As Part of ITS IPO Filing.
The Filing Shows That Board Approved A $ 55 Million BTC Investment in March 2024, Which Has Since Apprecated by 27%.
A Separate May Resolution GreenLit A $ 30 Million USDC Purchase, Earmarked for Future Conversion to BTC Bringing The Total Planed Allocation to $ 100 Million.
Recently, Hong Kong-Based Food Conglomerate DDC Enterprise Announced A $ 528 Million Capital Raise This Week, Earmarked to Buy 5,000 BTC Over Three Years.
Defi Development Corp. to raise $ 100m in convertible Notes, Eyes More Sol AcumulationDefi Development Corp. , The First Publicly Traded US Company With A Treasury Strategy Built AROUND SOLANA
Announced in a tuesday press release that it plans to raise $ 100 Million Through A Private Offering of Convertible Senior Notes Due 2030.
The Offering, Made Under Rule 144a to Qualified Institutional Buyers, Includes An Option for Initial Purchassers To Acquire Up To An Addrational
Market Movements:BTC: Bitcoin is Holding AROUND $ 106K, with on -chain Data from Glassnode Showing Long-Term Holders Largely Unmoved.
Eth: Ethereum Faced Heavy Selling After Failing to Break Resistance at $ 2,522, ENDING A VOLATILE 24-HOUR SESSION Marked by a 4.5% Trading Range.
GOLD: Gold Rose Over 1% Tuesday, Driven by a Weaker Dollar and Global Trade Uncertainty, with Spot Prices Hitting $ 3.357.85 and Futures Climbing to $ 3,353.80.
S&P 500: US Stocks Were Mixed Tuesday as Investors Rotated Out of Tech, with The S&P 500 Slipping 0.11% to Close at 6,198.01.
Elsewhere in Crypto:
- Binance to keep hunds of Staff in Singapore Despite Crackdown (Bloomberg)
- Ny Attorney General Letitia James Warns Stablecoin Bills Put Americans at Risk, Urges Stronger Oversight (The Block)
- High on Doge? Cannabis Company Makes Dogecoin Treasury Play (Decrypt)
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