Aleksei Andriunin, founder and CEO of Gotbit, has been sentenced to 8 months imprisonment by the U.S. District Court for the District of Massachusetts for orchestrating crypto market manipulation and
Here we go again. Hot on the heels of Polkadot’s proposal to diversify into Bitcoin, Cardano (ADA-USD) co-founder Charles Hoskinson just floated hi...
Bitcoin (BTC) extended its losses for a third consecutive day, plunging to a low of $102,832 as markets turned bearish thanks to escalating tensions in the Middle East. Tensions flared up after Israel conducted preemptive strikes on Iranian military facilities, worsening market sentiment. Traders hopeful of a move past $111,000 were stunned as geopolitical realities meant bullish sentiment around BTC evaporated. The flagship cryptocurrency has rebounded to reclaim $105,000 but remains trading in the red. Bitcoin (BTC) Traders Prepare For Volatility Bitcoin (BTC) traders and holders are bracing for increased volatility after on-chain data revealed a steady decline in exchange and OTC balances, indicating a tightening supply as traders begin accumulating the asset. Retail investor activity is also subdued, making it an unusual backdrop for an asset pushing towards all-time highs. As demand grows, centralized exchanges have reported substantial declines in their Bitcoin balance. Balances have plunged over 14% since the beginning of 2025 to 2.5 million BTC , a level last seen in August 2022. A declining supply of Bitcoin on centralized exchanges typically indicates growing investor confidence as they move their assets into cold storage. However, this also reduces the liquid supply of the asset, leading to a spike in prices. Over-the-counter (OTC) Bitcoin numbers are also showing a drop in supply. While OTC desks operate by matching buyers and sellers, they rely on BTC reserves to facilitate quick and credible transactions. However, these reserves are also at historic lows, with CryptoQuant data revealing OTC addresses associated with miners have reported a 19% drop in Bitcoin balances since January. With exchange and OTC reserves drying up, the supply is shrinking rapidly. This could amplify price movements as demand for an increasingly scarce asset rises. Liquidations Rattle Crypto Bitcoin (BTC) slumped below $106,000 on Thursday as bearish sentiment intensified. The decline continued on Friday, falling to an intraday low of $102,832 before rebounding. Bitcoin’s sudden decline sent alarm bells ringing across crypto, with the mood gloomy as sellers hold a distinct advantage. The drop dragged the crypto market down as well, with its market cap plummeting to $3.24 trillion. A total of $645 million in long and short positions were wiped out in the past 24 hours, with $297 million tied to Bitcoin longs alone. Data from Coinglass highlighted a massive $201 million liquidation on a BTC /USDT trade. GameStop’s Bitcoin Bid Sends Shares Into Freefall GameStop’s plan to add more Bitcoin to its balance sheet by boosting its private convertible note offering to $2.25 billion sent its share tanking 22%. The move by the video game and consumer electronics retailer indicates a firm commitment to building its corporate Bitcoin treasury. The sale of the boosted convertible note offering is expected to conclude on Tuesday. GameStop expects to raise $2.23 billion from the offering or $2.68 billion if the purchasers exercise their right to purchase additional notes in full. The boosted offering is a $500 million increase from the initial $1.75 billion announced on Wednesday. The funding round comes after the retailer announced the purchase of 4,710 BTC , valued at around $513 million. The purchase came two months after the company announced plans to build a Bitcoin treasury. GameStop plans to use the funds raised from the offering for general corporate purposes, including investments consistent with GameStop’s investment policy, hinting at more Bitcoin purchases in the future. The video game retailer is currently the 11th largest corporate holder of Bitcoin. However, the company's shareholders are unhappy with the pivot towards Bitcoin, with the share price plunging 22% following the announcement. The firm's share price has struggled to maintain its upside momentum since it announced mixed earnings for the first quarter of 2025. GameStop reported a revenue of $732.4 million, slightly lower than the expected $754.2 million. Czech Government Faces No-confidence Vote After Bitcoin Scandal The Czech Republic's main opposition party has called for a No-confidence Vote against the ruling party, accusing it of corruption over a $45 million Bitcoin payment from a convicted criminal. Alena Schillerova, Vice Chair of the right-wing ANO Party, stated on X that her party felt there was no choice but to submit the no-confidence motion scheduled for Tuesday. The country's Justice Ministry announced on May 28 that it had sold almost 500 Bitcoin for 1 billion Czech koruna ($45 million) in an auction after receiving it from Tomas Jirikovsky. Jirikovsky ran an online black market and was convicted of embezzlement, drug trafficking, and weapons violations in 2017. The opposition has demanded a probe into the auction and the ministry's conduct. It has also asked for information about who sanctioned the transaction. They also alleged that the winners of the Bitcoin auction were demanding their funds back and wanted to know how they would be compensated. The Czech Justice Minister Pavel Blazek was forced to resign because of the scandal. However, he denied any wrongdoing, adding that he resigned to protect the government's reputation in an election year. Bitcoin (BTC) Price Analysis Bitcoin (BTC) extended its losses for a third consecutive day as escalating tensions in the Middle East plunged the markets into chaos. The flagship cryptocurrency surged past $110,000 at the beginning of the week, fueling speculations of a move past $111,000 and a new all-time high. However, global tensions flared after Israel launched preemptive strikes on Iran, targeting its military and nuclear facilities. As a result, BTC plunged below $105,000, falling to a low of $102,832. BTC’s sudden decline sent shockwaves through the market, dragging the broader crypto ecosystem down. As a result, the crypto market cap fell over 4% to $3.24 trillion. 10x Research discussed Bitcoin’s price action in a post on X, stating, “Bitcoin Just Lost Its Breakout — Here’s the Support Level That Matters Now. Bitcoin’s breakout above $106,000 didn’t hold, and that could mean more than just a failed rally. Bitcoin needed to hold above the $106,000 breakout level. Falling back below this threshold invalidates the Monday breakout signal and reinforces our cautious stance.” The decline caught an optimistic market, buoyed by recent positive price action, completely off guard. As a result, over $427 million in long positions were liquidated in the past 24 hours, according to data from CoinGlass. BTC was trading around $109,000-$110,000 a day prior, fueling speculations about a move to a new all-time high. While BTC has dropped substantially, gold and oil prices have surged. However, analysts believe this trend could reverse soon if historical trends are anything to go by. Bitcoin entrepreneur Anthony Pompliano highlighted the same in a post on X, stating that “Oil up. Gold up. Bitcoin down. The initial reaction follows exactly what happened when Iran shot 300 missiles at Israel. Bitcoin ended up outperforming the other two over the first 48 hours in that situation. Will be interesting to see what happens here.” BTC faced selling pressure and volatility on Monday (June 2), falling to an intraday low of $103,768 before recovering to reclaim $105,000 and settle at $105,902. The price fell back into the red on Tuesday, falling 0.44% to $015,436. Sellers retained control on Wednesday as BTC fell almost 1%, slipping below $105,000 and settling at $104,752. Bearish sentiment intensified on Thursday as BTC plunged 3%, falling to a low of $100,424 before settling at $101,614. It recovered on Friday, rising nearly 3% and settling at $104,378. Source: TradingView Buyers retained control over the weekend as BTC rose 1.15% on Saturday and registered a marginal increase on Sunday to reclaim $105,000 and settle at $105,784. Bullish sentiment intensified on Monday as BTC surged over 4%, crossing the 20-day SMA and $110,000 and settling at $110,251. Bulls lost momentum after reaching this level, and the price fell to an intraday low of $108,335 on Tuesday. However, it recovered to reclaim $110,000 and settle at $110,253. Bearish sentiment returned on Wednesday as BTC fell 1.42% to $108,687. Selling pressure intensified on Thursday as BTC plunged nearly 3%, slipping below the 20-day SMA and settling at 105,828. The price fell to a low of $102,832 during the ongoing session as markets turned bearish but has made a marginal recovery to move to $104,816. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
Bitcoin slipped to a low of $103,100 in the past 36 hours, a 4.0% decline from its weekly high. The downturn coincided with a 10-point drop in the Crypto Fear & Greed Index, now sitting at 61, its lowest in the week. According to a poll conducted by market intelligence platform Santiment Feed on social platform X, more than 50% of respondents are in support of “buying the dip.” Meanwhile, 28% said they expect prices to fall further below $100,000 and are prepared to sell their holdings. Bitcoin Fear and Greed Index is 61. Greed Current price: $104,493 pic.twitter.com/u3EeLb7fhN — Bitcoin Fear and Greed Index (@BitcoinFear) June 13, 2025 Even after Friday’s sell-off, Bitcoin has recovered modestly to trade near $105,000, ahead of the expiration of roughly 28,000 Bitcoin options contracts, worth an estimated $3 billion. Similar expiries last week had minimal impact on the spot market, but BTC’s recent price action shows there could be a further pullback in prices. On-chain data mulls accumulation amid pullback On Tuesday, June 11, Bitcoin briefly surged back to $110,000, testing its all-time high last reached in late May. Yet, per CryptoQuant contributor Crypto Dan, whales refrained from profit-taking. On-chain data from the analytics platform showed that large holders added to their positions instead of exiting the market. That day alone, accumulation wallets received 30,784 BTC, worth approximately $3.3 billion, raising their collective holdings to 2.91 million BTC. The average entry price for these wallets now stands around $64,000. Amr Taha, an on-chain analyst, indicated a growing divergence between Bitcoin’s price and Binance’s Open Interest (OI). Although the price retested all-time highs on June 11, Binance’s OI failed to match levels seen during the previous peak in late May. This discrepancy hints at weakening participation in the futures market, often a precursor to short-term volatility. Stablecoin withdrawals and negative net taker volume spell red Over $750 million worth of stablecoins were removed in recent days, a move reminiscent of similar outflows on May 29. Analysts say such large-scale withdrawals often reflect de-risking behavior or capital rotation when they align with price highs. Binance’s Net Taker Volume, a measure of selling versus buying, spiked to -$197 million, the most negative reading since June 6. The metric shows traders could be dumping Bitcoin at market prices rather than placing passive orders, also deemed as panic-selling. BTC Net Taker Volume Chart | Source: CryptoQuant The seven-hour moving average of this indicator has remained negative since June 12. Still, looking at previous occurrences, such extreme net-taker sell-offs have also marked short-term bottoms. For instance, after a similar reading on June 6, Bitcoin rebounded by 4% within 24 hours. “ The net taker volume and geopolitical panic have created a high-risk, high-reward setup. While short-term volatility may persist, the conditions resemble past recovery scenarios ,” analyst Tah commented. Friday’s downturn was compounded by an early morning military strike by Israel on Iran, triggering sell-offs across global risk assets. Crypto markets were hit especially hard, with leveraged long positions unwound en masse as traders scrambled to exit positions. Analysts note that high-risk assets like Bitcoin are liquidity sources during times of crisis, which could be why exit positions and liquidations spiked during the early Asian trading sessions. The combination of fear and technical exhaustion may have driven Bitcoin’s drop from $110,000 to $103,000. Cryptopolitan Academy: Coming Soon - A New Way to Earn Passive Income with DeFi in 2025. Learn More
Invesco and Galaxy Digital have taken a significant step by filing for a Solana ETF, marking a pivotal development in crypto investment options. This move aims to provide investors with
On June 12, Fidelity dumped 1,820 Bitcoin ( BTC ), worth over $190 million in total, in one of the largest institutional Bitcoin moves in recent weeks. At the time of writing, the total daily volume for BTC is up 35%, sitting at $71.09 billion. The price, on the other hand, sits at $105,102, down -1.83%, suggesting short-term price volatility. BTC 24-hour price. Source: Finbold Ethereum ETFs At the same time, Fidelity bought another 3,900 ETH , amounting to over $9.8 million. While Ethereum is down -7.24% in the past 24 hours, ETH ETFs seem to be breaking records, witnessing inflows above $110 million today. Compared to Fidelity, BlackRock went the extra mile with no less than 36,640 ETH, more than $92.5 million in total. And this is just two days after its already enormous $80.6 million purchase . Whatever the numbers might suggest, all eyes seem to be on ETFs as institutional owners make unprecedented moves. What’s more, with the Ripple v. SEC case potentially nearing a settlement, altcoin ETFs are likely to become an even hotter topic in the following weeks. Featured image via Shutterstock The post Fidelity dumps 1,820 Bitcoin to buy this crypto appeared first on Finbold .
Bitcoin experienced a sharp decline amid escalating geopolitical tensions in the Middle East, reflecting the market’s sensitivity to global risk factors. While Bitcoin and Ethereum futures saw significant liquidations, traditional
According to CNBC’s Power Lunch, Galaxy Digital CEO Mike Novogratz thinks Bitcoin could climb all the way to $1 million per coin if big institutions keep piling in. The cryptocurrency hit a weekly peak of $110,290 on Tuesday. It slipped 4.5% to $104,300 by Thursday, but it’s still climbed 1.75% over the past seven days. Novogratz says this isn’t just hype. He points to firms moving cash from dollars and gold into crypto. Related Reading: BTC Is Just 0.2% Of Global Wealth — And That’s Why It’s Not Too Late: Analyst Institutional Moves Up Demand BlackRock’s iShares Bitcoin Trust (IBIT) went live in January 2024 after SEC approval. Based on reports, that fund now gives big investors a straightforward path to own Bitcoin without buying coins directly. BlackRock manages about $11.6 trillion in assets. When a player that size steps in, others notice. Novogratz says wealth managers and pension funds have started treating Bitcoin like a macro asset, on par with gold and the S&P 500. Growing Corporate Interest Treasury companies are adding Bitcoin to their balance sheets. Sovereign wealth funds have begun to follow suit. Retail investors keep buying, too, thanks to easier trading apps and ETFs like IBIT. A handful of public companies have raised millions to buy Bitcoin outright. Related Reading: TRX Price Up As Tron Rolls Out The Red Carpet For Trump-Backed Stablecoin According to filings, Metaplanet, the Blockchain Group, GameStop, and US President Donald Trump’s Media arm all announced major purchases this year. Their moves chip away at the 21 million-coin supply, making each remaining Bitcoin scarcer. Bitcoin Versus Gold Bitcoin’s 21 million supply cap is hard-wired into its code. Gold, by comparison, has a market worth north of $12 trillion and sees about 1–2% new supply each year through mining. Novogratz argues that younger investors will choose a capped digital asset over a metal bar. That switch isn’t guaranteed, but once people see Bitcoin as a store of value, its appeal could grow. At today’s $2 trillion market cap, Bitcoin has room to expand many times over if it ever rivals gold. Related Reading: Bitcoin To $1 Million? Michael Saylor Laughs Off Crypto Winter Fears Challenges Ahead Regulators remain a wildcard. The SEC green-lit IBIT, but future rules on taxes or derivatives could slow things down. Bitcoin’s price swings make it riskier than bonds or gold. Institutions often chase stable returns, and Bitcoin pays no dividends or interest. Finally, moving another $10 trillion into crypto would need a massive shift in asset allocations. That kind of inflow isn’t impossible, but it won’t happen overnight. Based on reports, Novogratz sees Bitcoin’s march toward gold’s market cap as a “ball rolling down a hill.” He predicts that, over time, Bitcoin will match gold and then outpace it. Featured image from Imagen, chart from TradingView
BitcoinWorld SWC Bitcoin Holdings Soar: The Smarter Web Company Advances Ambitious Digital Asset Initiative In a move signaling continued confidence in the digital asset space, The Smarter Web Company (SWC), a London-listed technology firm, recently announced a significant increase in its Bitcoin reserves. This strategic decision is part of the company’s long-term vision, dubbed “The 10 Year Plan,” which emphasizes the growing importance of digital assets in a modern corporate framework. For those tracking the intersection of traditional business and the evolving world of cryptocurrency, this development from The Smarter Web Company is a notable point of interest. What Does the Latest Bitcoin Acquisition Mean for SWC? On June 13, The Smarter Web Company confirmed it had acquired an additional 74.27 BTC. This latest Bitcoin acquisition is not an isolated event but rather a deliberate step within a predefined corporate strategy. The amount itself, while specific, adds substantially to their existing reserves, demonstrating a tangible commitment to their stated goals regarding digital assets. Understanding the context of this purchase requires looking at the company’s broader plan and their existing holdings. Understanding SWC Bitcoin Holdings: A Growing Stack Following this recent purchase, SWC Bitcoin holdings have reached a total of 242.34 BTC. This figure represents the cumulative result of their acquisitions under their digital asset initiative. To put this into perspective, while not on the scale of major corporate holders like MicroStrategy or Tesla, it positions The Smarter Web Company as a technology firm actively integrating Bitcoin into its treasury strategy. The increase from previous holdings indicates a consistent approach to accumulating this asset over time, aligning with a long-term investment horizon. Exploring The Smarter Web Company’s Corporate Bitcoin Strategy The rationale behind holding Bitcoin as part of a corporate Bitcoin strategy is multifaceted. For companies like The Smarter Web Company, it can serve several potential purposes: Inflation Hedge: Viewing Bitcoin as a potential store of value in an environment of currency devaluation concerns. Balance Sheet Diversification: Adding a non-correlated asset (potentially) to traditional cash or bond holdings. Exposure to a New Asset Class: Gaining direct exposure to the growth potential of the cryptocurrency market. Signal to Market: Demonstrating forward-thinking and an understanding of technological trends to investors and customers. SWC’s public announcement frames this within their “The 10 Year Plan,” suggesting a long-term commitment rather than short-term speculation. This indicates a belief in Bitcoin’s enduring value and role in the future economy. Why Are Companies Pursuing a Digital Asset Initiative? The trend of companies adopting a digital asset initiative is gaining momentum across various sectors, particularly in technology. Beyond the specific case of The Smarter Web Company, the broader movement reflects a shift in how corporate treasuries and strategic planners view non-traditional assets. Key drivers include: Belief in the underlying technology (blockchain). Potential for significant returns, despite volatility. Increasing institutional acceptance and infrastructure. Exploring use cases beyond investment, such as payments or decentralized finance (though SWC’s focus appears to be treasury). However, this strategy is not without its challenges, including regulatory uncertainty, market volatility, security risks, and accounting complexities. Companies undertaking such initiatives must carefully weigh these factors. The Implications for The Smarter Web Company and the Market For The Smarter Web Company , this continued accumulation reinforces their stated commitment to their “The 10 Year Plan” and its digital asset component. It suggests that despite market fluctuations, the company sees long-term value in holding Bitcoin. For the wider market, such announcements from publicly listed technology firms contribute to the narrative of increasing corporate adoption, which is often viewed positively by crypto investors as it signals maturity and broader acceptance of the asset class. Key Takeaways: SWC made a notable Bitcoin acquisition of 74.27 BTC. Total SWC Bitcoin holdings now stand at 242.34 BTC. This is part of a defined corporate Bitcoin strategy under “The 10 Year Plan.” The move highlights the growing trend of companies pursuing a digital asset initiative . It signals The Smarter Web Company’s long-term view on Bitcoin’s role. Conclusion: A Strategic Step in a Digital Future The recent Bitcoin acquisition by The Smarter Web Company underscores a deliberate and ongoing strategic pivot towards integrating digital assets into its core financial planning. With SWC Bitcoin holdings growing, the company is actively pursuing its “The 10 Year Plan,” positioning itself within the evolving landscape where a robust digital asset initiative is seen as a potential driver of future value and stability. This move by The Smarter Web Company provides another data point in the broader trend of corporate adoption of Bitcoin, signaling a belief in its long-term potential despite the inherent volatility of the crypto market. To learn more about the latest corporate Bitcoin strategy trends, explore our article on key developments shaping Bitcoin institutional adoption . This post SWC Bitcoin Holdings Soar: The Smarter Web Company Advances Ambitious Digital Asset Initiative first appeared on BitcoinWorld and is written by Editorial Team