Key takeaways: Possible de-risking ahead of the May 13 CPI print could be playing a role in today’s BTC price correction. Bitcoin market structure and qualitative fundamentals remain bullish, suggesting today’s correction could be short-lived. Bitcoin ( BTC ) price briefly stumbled on May 12, falling to $102,388 after hitting an intraday high at $105,819 during the US trading session. At first glance, the abrupt correction seemed unexpected given the positive news of the day. Since Sunday evening (May 11), mainstream media headlines have reported on the positive headway made in the US-China trade talks occurring in Switzerland, and throughout the evening, President Trump ran his victory lab via Truth Social posts heralding the positives of the deal. BREAKING: U.S. Announces China Trade Deal in Geneva pic.twitter.com/JjgvYAvAGe — The White House (@WhiteHouse) May 11, 2025 As news of the tentative deal broke, US equity futures markets soared, and these gains materialized into a 1,000-point rally in the Dow at the opening bell. Looking beyond the temporary resolution of the US-China trade war, Bitcoin has racked up back-to-back wins over the past two weeks. On May 12, Strategy CEO Michael Saylor announced that the company had acquired 13,390 Bitcoin , bringing its total balance to 568,840 BTC. On the same day, shares of healthcare company KindlyMD surged up to 600% after announcing the merger with Nakamoto Holdings, a Bitcoin investment company founded by David Bailey, who is Trump’s current crypto adviser. The month of April followed a similar trajectory to today, where frequent Bitcoin treasury creation announcements were made by an assortment of US-based and international companies. Related: US real estate asset manager launches $100M tokenized fund with institutional backing Profit taking and de-risking drive the current Bitcoin price correction While Bitcoin's mass adoption appears to be accelerating, data from Glassnode suggests that BTC price could be in for a brief period of consolidation after gaining 9% in the last week. The onchain analytics firm posted the following chart and warned that: “ BTC Supply Mapping shows sustained strength in new demand. First-Time Buyers RSI has held at 100 all week. But Momentum Buyers remain weak (RSI ~11), and Profit Takers are rising. If fresh inflows slow, lack of follow-through could lead to consolidation.” At major crypto exchanges, there was an uptick in selling in perpetual futures markets, and selling was also seen in spot markets as BTC price rallied into a sell wall near $106,000. From a trader's point of view, a portion of the selling could be possible derisking ahead of the May 13 Consumer Price Index (CPI) inflation report, along with the view that the Trump trade deal with China is now priced in after BTC failed to rally and hold above $104,000 on such momentous news. BTC/USD spot and futures CVD. Source: TRDR.io Leading into the trade war news, the US Dollar Index (DXY) rallied and stock indexes soared. Seeing Bitcoin failing to break and hold $104,000 to $105,000 prior to stock futures opening and then BTC being unable to follow equities opening bell gains in the NY session suggests some traders elected to close profitable longs ahead of tomorrow’s CPI or before the current bid appetite shifts to lower price levels. BTC/USDT futures 1-hour chart. Source: Velo This view can be interpreted by the chart above, showing open interest rising hour-over-hour, along with an abrupt spike in the funding rate as short positions opened and longs were liquidated. Spot purchasing played a significant role in last week’s Bitcoin price rally, and the May 12 announcement from Strategy and spot BTC ETF inflows of the past 7 days raises more immediate concerns of whether the type of buying appetite seen since late April will spill over into another week. Spot Bitcoin ETF net inflows (weekly). Source: SoSoValue Considering the accelerating pace of Bitcoin adoption within traditional finance and the rapidly improving crypto regulatory environment, the current price action appears to be a short-term technical correction. Perhaps, dependent upon tomorrow’s CPI print, spot and margin longs will return in force once the market digests the details of the report. This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
An under-the-radar stock has skyrocketed over 700% after the company merged with a Trump-linked Bitcoin firm to start a BTC treasury strategy. In a press release, KindlyMD (KDLY), a provider of integrated healthcare services, says it’s entering into a definitive merger agreement with Nakamoto Holdings Inc, a firm that aims to establish a global network of Bitcoin treasury companies. Nakamoto Holdings’ CEO, David Bailey, was a crypto advisor for President Donald Trump during the 2024 presidential campaign. Says Bailey in the press release, “Traditional finance and Bitcoin-native markets are converging. The securitization of Bitcoin will redraw the world’s economic map. We believe a future is coming where every balance sheet – public or private – holds Bitcoin. Nakamoto seeks to be the first publicly traded conglomerate designed to accelerate that… Nakamoto is building the first publicly traded conglomerate designed to accelerate that future. The financial institutions who defined their chapter in history have all carried the names of their founders: Medici, Rothschild, Morgan, Goldman. Today, we stake that legacy on Nakamoto.” Following the announcement of the merger, KDLY stock went parabolic, running from $3.83 to $31.41, a 719% gain. At time of writing, KDLY is trading at $15.49 after a substantial sell-off from the highs. Tim Pickett, CEO of KindlyMD, said the merger represented a “strategic leap” for the company, allowing it to expand on its goals. “Nakamoto brings in a team with deep expertise in Bitcoin strategy and unparalleled access to the leading experts in Bitcoin treasury management.” 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 Healthcare Stock Explodes 719% After Sudden Merger With Bitcoin Firm Owned by President Trump’s Crypto Advisor appeared first on The Daily Hodl .
MicroStrategy, now known as Strategy and listed on NASDAQ as MSTR, has continued its aggressive acquisition of Bitcoin, purchasing an additional 13,390 BTC between May 5 and May 11 for approximately $1.34 billion at an average price of $99,856 per Bitcoin. This latest purchase increases the company's total Bitcoin holdings to 568,840 BTC, which represents 2.7% of the total Bitcoin supply, acquired for about $39.41 billion at an average price of $69,287 per coin. The company, headquartered in Tysons, Virginia, and led by Michael Saylor, has achieved a Bitcoin yield of 15.5% year-to-date in 2025. Strategy, formerly focused on data-analyzing software, has become the largest corporate holder of Bitcoin, a strategy initiated by Saylor during the COVID-19 pandemic to hedge against inflation and preserve capital for shareholders. To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io
Coinbase considered adopting a Bitcoin-heavy treasury strategy similar to that of MicroStrategy, which involved allocating up to 80% of its balance sheet to Bitcoin. According to CEO Brian Armstrong, the company discussed this approach multiple times since 2012 but ultimately decided against it due to concerns about financial risk and potential threats to its operational stability. Armstrong explained that such a strategy could have reduced the company's financial runway and jeopardized key milestones, especially during its early growth phase. He noted that excessive exposure to Bitcoin's volatility could have 'killed the company.' CFO Alesia Haas stated that Coinbase's main focus has been on developing new products and services rather than growing its investment portfolio. To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io
A major US city is now handing out cash to selected participants of a guaranteed income pilot weeks after the program was approved. The city of Albuquerque, New Mexico has started giving 80 households a guaranteed income of $750 per month for 36 months to use as they wish, reports KRQE News. The goal of the guaranteed income pilot program is to provide economic stability to struggling families in the low-income bracket. The pilot program is estimated to cost approximately $2.16 million, excluding administrative costs, is being funded from the Cannabis Equity Reinvestment Solution. The Cannabis Equity Reinvestment Solution is an initiative that was approved by the Albuquerque City Council and is supported by tax revenues from the cannabis industry. Eligible families will mostly be selected from the low-income demographic in two of the most underprivileged neighborhoods in Albuquerque – International District and Westside. “These two districts were chosen because they house the two elementary schools with some of the lowest academic outcomes and highest rates of chronic absenteeism.” Priority will be given to households that have been “negatively impacted by the criminalization of cannabis,” according to the City of Albuquerque’s Office of Equity and Inclusion. Earlier this year, after the guaranteed income pilot program was approved by the city council, the mayor of Albuquerque, Tim Keller, said the money would be used to “help families get the tools they need to succeed with dignity.” Besides the monthly cash payments, the selected participants of the guaranteed income initiative will receive financial advice from Albuquerque’s Office of Financial Empowerment. 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 $2,160,000 To Be Handed Out As US City Kicks Off Guaranteed Income Pilot Program appeared first on The Daily Hodl .
The president’s family has a growing crypto empire.
Bitcoin is consolidating just below a major resistance level at $106,433, with bullish momentum building. If this level breaks with strong volume, a push toward $127,600 could follow swiftly. Despite giving up all of its gains made over the past 24 hours, Bitcoin ( BTC ) remains within striking distance of its all-time high, showing strong signs of a bullish continuation. After months of climbing through higher highs and higher lows, BTC now faces one final technical hurdle at $106,433, a level that has acted as a ceiling for price action since December 2024. The current structure suggests a potential breakout is forming, but one key ingredient remains: confirmation through volume. Key technical points, Major Resistance: $106,433 – final level before all-time highs Bullish Structure: Higher highs and higher lows remain intact Target Zone: $127,600 – the long-term channel high BTCUSDT (1D) Chart, Source: TradingView Bitcoin’s current price action continues to sit below $106,433, a resistance level that has consistently capped upward momentum for months. This area coincides with the midpoint of a long-term ascending channel, adding confluence and technical significance to this zone. It’s acting as both a psychological and structural barrier. Price is now compressing below this zone in what appears to be a tightening apex. This type of setup typically leads to a volatility squeeze. When support and resistance converge around a midpoint channel level, it creates pressure in price action. If the bullish structure, defined by higher highs and higher lows, continues to hold, the probability of a breakout increases. However, no breakout will be confirmed unless it is accompanied by an influx in volume, showing true demand. You might also like: SHIB, SUI remain volatile; BlockDAG’s special price offers up to 1,279% ROI overnight Volume has remained steady but not explosive in recent days. This hints that buyers are watching from the sidelines, waiting for clear confirmation. A strong daily or weekly close above $106,433, backed by rising volume, would mark a technical breakout, with the next logical target being the channel high at $127,600. Until that breakout occurs, price may continue to consolidate within this tightening range. As long as the bullish structure isn’t invalidated by a lower low, the bias remains to the upside. This current consolidation may last several more days or even weeks, but the pressure is building, and technicals suggest a breakout is more likely than a breakdown. What to expect in the coming price action If Bitcoin can hold this range and break above $106,433 with volume, it would confirm the next leg of the bull cycle. The next major target sits at $127,600, and a breakout could unfold quickly once resistance gives way. Read more: Cardano’s bullish reversal: will a break above $1.13 trigger the next big rally?
Bitcoin (BTC) stabilized above $104,000 and recovered to the $105,000 level for the first time. Based on price metrics, profit-taking may start happening at prices above $106K. Bitcoin (BTC) may start seeing profit-taking at prices above $106,000, based on Alphractal data. The metrics show price levels where profit-taking is probable, based on historical data. BTC easily recovered the $105,000 level but has not directly moved to the higher range, where whales may resume selling. At this point, over 97% of the BTC supply is profitable , with no pressure even for short-term holders to capitulate. The supply in profit returned to levels not seen since December 2024, suggesting a local market peak. At these price levels, BTC may continue with attempts to recover its all-time highs above $109,000. However, historically, the Alpha Price threshold has caused profit-taking from older wallets. Alphractal analysis warns BTC may face selling pressure and stall around those price levels. Bitcoin is at the Alpha Price. An ideal moment for OG Whales to take profits. I'm not saying the price will stop rising! But given the incredible accuracy of this Onchain pricing metric, everyone should be more cautious and wait for an oversold condition at some point in the… pic.twitter.com/XV3Ps8dgKo — Joao Wedson (@joao_wedson) May 12, 2025 BTC is also testing its support levels, sinking to the $102,000 range on Monday. The leading coin fell to a dominance of 59.4% as Ethereum (ETH) regained attention. The Bitcoin fear and greed index returned to indicating ‘greed’ at 70 points, up from fear territory under 40 points in the previous month. The rapid rise of the indicator suggests the rally may be peaking, leading at least to short-term profit-taking, even at a lower level. The $106,000 level is also critical in the derivative market. BTC sees the biggest accumulation of short positions at $106,515.86, with over $83M in liquidity. BTC’s short liquidity accumulated around the $106,500 range | Source: Coinglass On Monday, the price moved downward, sweeping the long positions all the way down to $102,000. The short positions, in turn, may create a squeeze and a rapid recovery. BTC open interest inched down to $31B from a recent peak at $32B. Derivative markets are more speculative, but they also reflect the caution of spot buyers and holders at these price levels. BTC moved down from its overbought relative strength index ( RSI ) and is currently in a neutral state. The asset still sees predominant outflows from exchanges on both spot and derivative markets. BTC still signals accumulation in the background The profit-taking signal diverges from the long-term rainbow chart, where BTC is still in the accumulation zone. However, with more of the supply in profit, spot selling may accelerate as some large-scale holders have set aside wallets for short-term trading. BTC accumulation may include purchases from ETF, as well as corporate buyers, including Strategy. Those assets may be held in custodial wallets, not creating or destroying more whales and not being transferred on-chain for safety. Whale wallets with over 10,000 BTC inched up, adding two more large-scale addresses. The biggest growth is for wallets with 100 to 1,000 BTC, rising by 2,000 new addresses in the past six months. This category is still growing during the first quarter of 2025, though at a slower pace. Your crypto news deserves attention - KEY Difference Wire puts you on 250+ top sites
Bitcoin gave back all of its gains after soaring past the $105,000 mark early Monday morning amid encouraging trade deal developments. Gains across risk assets have accelerated in the past few days, with Bitcoin ( BTC ) surging after it crossed above $100k last week. Alongside stocks, Bitcoin surged to a multi-month high of $105,000. Like equities, BTC’s price jumped following progress in U.S.-China trade talks over the weekend. A White House announcement regarding a 90-day agreement to slash reciprocal tariffs added further tailwinds. But while the spike has fresh interest in Bitcoin on the upward, the benchmark cryptocurrency has revisited lows of $103k as analysts suggest profit takers have swung into action. According to on-chain analytics firm Glassnode, profit-taking is likely contributing to this short-term dip. The platform noted on X that BTC Supply Mapping shows continued strong demand, as the First-Time Buyers Relative Strength Index remains elevated. However, momentum buyers signal weakness, with no follow-through likely to hit prices. Amid this, there’s a BTC cohort coming to the party early: profit takers. $BTC Supply Mapping shows sustained strength in new demand. First-Time Buyers RSI has held at 100 all week. But Momentum Buyers remain weak (RSI ~11), and Profit Takers are rising. If fresh inflows slow, lack of follow-through could lead to consolidation: https://t.co/vHqbU4hrPt pic.twitter.com/Ghqynb296Y — glassnode (@glassnode) May 12, 2025 You might also like: Dow soars 1,000 points as markets cheer U.S.-China trade deal Glassnode says the pace of profit-taking has increased, and in the absence of new inflows, Bitcoin may enter a consolidation phase. However, analysts at Bitfinex maintain that macro tailwinds could help bulls absorb any short-term dips. Capital rotation into BTC looks strong, with the benchmark digital asset’s realised cap recently hitting a new all-time high, the analysts said in their Bitfinex Alpha report . Notable indicators such as exchange-traded funds inflows and dip in coins held at a loss also paint a bullish picture for BTC. “Coupled with rising spot volumes and institutional-led ETF flows, Bitcoin now sits on a structurally solid footing. As long as macro conditions remain supportive, short-term dips are likely to be absorbed quickly, reinforcing the upside bias and leaving BTC well-positioned for a potential new leg toward fresh highs,” they wrote. You might also like: Strategy buys $1.34b more Bitcoin, total holdings near $60b
XRP price has wavered this year, but its fundamentals and strong technicals point to more gains later this year. Ripple ( XRP ) rose to $2.60, its highest level since March 3 and 60% above its lowest level this year. XRP has numerous bullish catalysts. Donald Trump has mentioned it as a potential component of the U.S. strategic stockpile. On Monday, Amber, a Nasdaq-listed company, announced it would add XRP to its $100 million crypto ecosystem reserve. It will also add popular blue-chip coins like BNB, Solana ( SOL ), Bitcoin ( BTC ), and Ethereum ( ETH ). Amber joins companies like Worksport, BC Bud, and Wellgistics that have also added XRP to their strategic reserves. You might also like: Solana price prediction: rare pattern shows SOL rally is just starting The likely approval of spot ETFs by the Securities and Exchange Commission is another factor that could boost XRP’s price. The odds of approval have remained above 80% on Polymarket, the popular prediction platform. XRP price is also expected to benefit from the continued growth of Ripple USD ( RLUSD ), Ripple’s stablecoin. Its market cap has climbed to over $316 million, while its daily volume averages more than $100 million. This makes it one of the most actively used stablecoins in the crypto market. Another bullish factor is the conclusion of the SEC vs Ripple case . With legal clarity now established, Ripple is better positioned to ink new partnerships with financial institutions. CEO Brad Garlinghouse has expressed hope that more U.S. banks will adopt Ripple’s technology to disrupt the SWIFT payment system. Therefore, a potential XRP ETF approval, RLUSD growth, RippleNet growth, and the addition into strategic reserves will likely boost its token price. It will also benefit from the expected Bitcoin price rally. XRP price prediction XRP price chart | Source: crypto.news The weekly chart shows that XRP has formed several highly bullish technical patterns. One key structure is the bullish pennant, a continuation pattern made up of a vertical rally followed by a symmetrical triangle consolidation. XRP has already broken out above the triangle, signaling the start of a long-term rally. It has also completed the four phases of the Elliott Wave cycle and has now entered the fifth wave. This final wave is typically bullish and could propel the token to the key psychological resistance level at $5, approximately 100% above the current price. XRP has also remained above the 50-week Exponential Moving Average, a sign that bulls have remained in control since October last year. The bullish forecast will become invalid when it drops below the 50 EMA. You might also like: HBAR price prediction: Can Hedera hit 1$ in this bull market?