Retail traders are betting against Bitcoin’s rally, but rising short positions could trigger a squeeze. Could bearish sentiment backfire?
Based on reports, a long-dormant Bitcoin whale made a surprise move this week, snapping up 250 BTC for about $26.37 million. It’s the first time this wallet has shown activity in two years. Related Reading: Bitcoin To Hit $180,000 In 2025? Analyst Highlights The Trigger The purchase has stirred talk among traders and on-chain analysts alike. Some see it as a sign that big players are getting ready for more action in the weeks ahead. Whale Returns After Two Years According to Lookonchain data, the same whale pulled 500 BTC out of Gemini back in 2022 when Bitcoin was trading near $27,400, a move worth nearly $14 million at the time. Now, with BTC hovering around $105,000, the whale’s holdings sit on an unrealized gain of over $39 million. That kind of profit margin grabs attention. Other large holders often watch these moves closely. They wonder if this is the start of a wider trend or just one wallet’s play. A whale that had been dormant for 2 years bought another 250 $BTC($26.37M) 9 hours ago. 2 years ago, this whale withdrew 500 $BTC($13.7M) from Gemini at $27,401, now sitting on an unrealized profit of $39M.https://t.co/c0U92isSfc pic.twitter.com/vcb4V3M0Uz — Lookonchain (@lookonchain) June 8, 2025 Big Gains On Early Bet Early adopters have seen massive upside in Bitcoin over the years. This whale’s 2022 withdrawal came just before a multi-year price boom. Since then, Bitcoin has climbed nearly 300%. Not everyone can make moves like that. Small investors often feel left behind when a wallet this size shifts coins. Still, some traders say it can create a ripple of optimism. When big holders buy, retail traders sometimes pile in, chasing the same gains. Technical Indicators Show Mixed Signals On the charts, BTC seems to be shaping an inverse cup-and-handle pattern with a significant neckline at $100,800 serving as major support. The price has fallen into the handle stage, and a dip below $100,800 could propel Bitcoin to $91,000, which coincides with its 200-day exponential moving average (EMA). Bitcoin’s relative strength index (RSI) is 52, indicating the bullish momentum is fading. A fall below 50 could introduce additional selling pressure. For the bulls to regain control, BTC must recapture the 20-day EMA resistance, which is just above $105,000. Related Reading: Elon Musk ‘Will Do Anything’ To Make XRP King, Tech Mogul Says Market Volatility And Liquidations There were some wild price movements last week fueled in part by social media battles between US President Donald Trump and billionaire Elon Musk. The price of bitcoin fell below $101,000 for a moment, causing close to $1 billion in liquidations across futures markets, before recovering to above $105,000 within hours. The miner capitulation signal was also detected by CryptoQuant’s Hash Ribbons indicator, pointing to near-term pain for worse-off miners, but some potential rallies ahead once they pulled through. Featured image from Unsplash, chart from TradingView
Uber CEO Dara Khosrowshahi says that the ride-sharing and delivery company is eyeing stablecoins as a tool for business. In an interview during the Bloomberg Tech Summit in San Francisco, Khosrowshahi says that Uber is looking at the use cases for stablecoins – cryptocurrencies whose value is pegged to other assets such as the US dollar. “We’re still in the study phase, but I think stablecoin is one of the, for me, more interesting instantiations of crypto that has a practical benefit other than crypto as a store of value. Obviously, you can have your opinions on Bitcoin, but it’s a proven commodity, and people have different opinions on where it’s going.” One stablecoin use case that Khosrowshahi believes could benefit Uber and other companies is its potential to reduce the costs associated with transferring money internationally. “I do think that stablecoin is quite promising, especially for global companies that are moving money around globally to create a mechanism for us to essentially reduce costs in terms of moving money internationally. So that’s super interesting to us. And we’re definitely going to take a look.” Khosrowshani’s statements come following stablecoin giant Circle’s debut as a public company on Thursday. The USDC and Euro Coin ( EURC ) issuer is now listed on the New York Stock Exchange (NYSE) under the ticker symbol CRCL. Follow us on X , Facebook and Telegram Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox Check Price Action Surf The Daily Hodl Mix Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing. Featured Image: Shutterstock/Tuso chakma/Salamahin The post Uber CEO Says Stablecoins ‘Super Interesting’ Play for Transportation Giant As Circle Debuts on US Stock Market appeared first on The Daily Hodl .
The escalating feud between Donald Trump and Elon Musk has triggered a notable surge in memecoin trading, particularly impacting Solana-based tokens and shaking up the crypto market dynamics. This rivalry
As the U.S. national debt continues to soar, traditional finance players are increasingly voicing their concerns about the possibility of a future market crash. Notably, prominent cryptocurrency personalities are highlighting the many ways in which the leading cryptocurrency Bitcoin could benefit from any future meltdown recorded in the global finance market as a result of the increasing national debt in the United States. According to data from USAfacts , the federal debt as of April 2025 is $36.2 trillion, marking a 2% increase from April 2024 and a 31% increase from 2019. In response to the newly released data, Brian Armstrong, the CEO of Coinbase, took to X to share his prediction for the near future. The crypto founder explained the need for the U.S. electorate to persuade the U.S. Congress to decrease the federal government’s spending. Convinced that Bitcoin could go on to replace the U.S. dollar as a national reserve currency if the national deficit continues to skyrocket, Brian Armstrong wrote; “If the electorate doesn’t hold Congress accountable to reducing the deficit and start paying down the debt, Bitcoin is going to take over as a reserve currency.” Armstrong, whose cryptocurrency exchange—the largest in the country—is bound to benefit from the U.S. government’s adoption of Bitcoin, emphasized the need for stability, suggesting that Bitcoin might not yet be fit to replace the U.S. dollar as national reserve currency. “I love Bitcoin, but a strong America is also super important for the world. We need to get our finances under control.” He added . While Bitcoin might not be replacing the U.S. dollar in the U.S. central bank as a currency held in the largest quantity, President Trump’s executive order for the “Establishment of the Strategic Bitcoin Reserve and United States Digital Asset Stockpile,” will allow the Federal government to manage the cryptocurrency as a U.S. reserve asset.
A US city is launching a financial assistance program that aims to distribute millions of dollars in the form of grants to eligible residents. The City of Richmond, Virginia says it will provide a one-time housing assistance grant of $1,200 to each of the successful applicants of the RVA Stay Gap Grant Program. According to the city, $3.9 million is available for the program and the grants will be handed out on a “first come, first serve basis.” Applicants of the RVA Stay Gap Grant Program must be residents of the City of Richmond and must prove that their annual housing costs are equal to or more than 30% of their total household income to qualify. Applicants must also be in the bottom 80% of the low-income category and must not be receiving other forms of housing assistance from the City of Richmond. If the applicant is a renter, they must possess a current lease bearing their name. If a homeowner, they must possess a current mortgage with their name on it. “Renter annual housing costs may include rent, tenant renter’s insurance for personal property, and utility costs. Owner annual housing costs may include mortgage payments and utility costs.” For successful applicants who are homeowners, the grant will first go towards paying their real estate taxes and the balance will then be sent to them in a check. In the case of successful applicants who are renters, the entire grant of $1,200 will be sent to their landlord. The deadline for applications is December 31st. Applicants will be notified within eight weeks whether they have been accepted or rejected for the City of Richmond’s RVA Stay Gap Grant Program. Follow us on X , Facebook and Telegram Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox Check Price Action Surf The Daily Hodl Mix Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing. Generated Image: Midjourney The post $3,900,000 To Be Handed Out on First Come, First Served Basis As US City Launches Income Assistance Program appeared first on The Daily Hodl .
GameStop stock price will be in the spotlight this week as the company publishes its first earnings since it started buying Bitcoin. GameStop stock ended the week at $29.58, down 16% from its highest point this year. Its market capitalization is over $13 billion. Wall Street analysts expect the company’s core business results to show sustained weakness as more customers pivot towards online games. Data compiled by Yahoo Finance show that revenue will be $754 million, down by 14.47% from the same period last year. Analysts also expect its guidance for the second quarter to be $748 million, down 6.28% year over year. The estimate for its annual revenue is $3.56 billion and $3.13 billion next year. These numbers will represent a continuation of what has been happening. GameStop’s annual revenue moved from $6 billion in 2022 to $5.27 billion in 2023 and $3.8 billion last year. You might also like: GameStop completes $1.5B sale, eyeing Bitcoin acquisition Analysts expect that GameStop’s core business may face extinction as the video game industry changes. This explains why the company decided to emulate Strategy, a company whose valuation has jumped to over $100 billion because of its Bitcoin ( BTC ) holdings. GameStop has become one of the biggest Bitcoin holders. It holds 4,710 coins valued at over $497 million, and the management hopes to continue purchasing. GameStop has room to boost its Bitcoin holdings because of its strong balance sheet. It ended the last quarter with over $4.7 billion in cash, short-term investments, and no debt. Its equity valuation of over $13 billion also gives itthe flexibility to sell shares to fund these purchases. The company’s Bitcoin holdings to market cap are 3.76% (in contrast, Michael Saylor’s Strategy is 58%). GME stock price analysis GameStop stock chart | Source: TradingView The daily chart shows that the GME share price has retreated since it started implementing its Bitcoin strategy. It moved from $35 in May to $29.58. This price is inside the ascending channel connecting the highest and lowest swings since May last year. The stock remains above the 50-day and 100-day moving averages, a bullish thing. GME stock’s outlook is neutral ahead of its first quarter fiscal 2025 results, set to be released after the market closes on Tuesday, June 10. The key levels to watch will be the psychological point at $20 and the resistance point at $35.78. Read more: Chart of the week: Solana indicators point north, bulls test $165 target
Bitcoin's value remains stable above $100,000, captivating the financial sector. Corporate Bitcoin investments boost market demand and reduce available supply. Continue Reading: Bitcoin Prices Soar as Corporate Giants Fuel Demand Surge The post Bitcoin Prices Soar as Corporate Giants Fuel Demand Surge appeared first on COINTURK NEWS .
Since late May—spanning the past 17 days—the price gap for bitcoin in South Korea has climbed, topping a 3% difference by month’s end. As of Sunday, June 8, bitcoin is trading in the country at more than $1,500 above the worldwide average. Crypto Prices Break Away in South Korea, Sparking Premium Frenzy Bitcoin is currently
Bitcoin’s market potential could reach an unprecedented $425 trillion within the next 20 years, according to leading crypto analyst Willy Woo. Fidelity estimates Bitcoin’s addressable market at $18.5 trillion, emphasizing