The meme coin and micro-cap token mania keeps rolling through Solana-based venues like Pump Fun and PumpSwap. But there’s a slight problem: most of the trading volume is coming from bots. To be a little more precise, 93 of the top 100 wallets by trading volume on Pump Fun are trading for bots. The actual humans using the platforms aren’t even in the competition anymore. These are the key components of the on-chain trading narrative emerging in the Solana ecosystem. Even with the automated machines, a handful of remarkable human traders remain proof that the game isn’t entirely dominated by bots. Pump Fun may be a significant decentralized speculation hub, with over 3.7 million wallets trading in excess of $1,000, but the data highlights a faceless challenge for any human trader hoping to compete with the bots. Bots Reign Supreme Among High-Volume Traders Pump Fun is reshaping the current trading landscape with bots that are steadily scanning, sniping, and trading for the majority of the day. @Adam_Tehc has analyzed this and brings us the following: 93 out of the top 100 wallets by trading volume are likely automated, based on their stay-up-all-night, round-the-clock activity patterns. Turns out 93 out of the top 100 pumpfun/pumpswap wallets are bots. Adding some simple bot filtering. (which they'll certainly do for the airdrop) Here's the actual human leaderboard: • 2 wallets have traded over $100M+ volume ( @Cupseyy & @TheMisterFrog ) • 785 wallets have… https://t.co/td9lZN1vHZ pic.twitter.com/bG69K6v2gF — Adam (@Adam_Tehc) June 9, 2025 These wallets trade more than 18 hours per day—well beyond any human operator. There are effects of this bot activity that go beyond the just competitive aspect. They have bearing on liquidity, price discovery, and volatility for tokens that are newly launched—like the Pump Fun tokens, for instance. Bots—the automated kind, as well as the human kind—have the edge when it comes to speed and reaction time. They can front-run, arbitrate, or exit trades faster than you can click buy or sell. And if any trades get executed just as the token price is about to start skyrocketing, those trades can be epic in terms of returns. Having a significant number of bots raises issues of fairness and access for users on platforms like Pump Fun. Questions are being asked about the health of these platforms, which were initially cherished for their too-open-to-be-true-and-so-we-love-it (meme) aesthetic. Human Traders in a Bot-Dominated Arena Even with bots dominating the scene, human traders are still able to make it to the top. For instance, Winford’s two wallets—@Cupseyy and @TheMisterFrog—have more than $100 million in trading volume. They stand out not only for their commanding presence but also for being able to achieve that presence in a market where bots have a clear first-move advantage. Just behind are 785 human wallets that have passed trading volumes of $10 million and are now in the top 0.005% of all participants. At the next level down are 11,843 wallets that have crossed the $1 million threshold, now representing the top 0.078%. These two sections of the ranks are aglow with human wallets. Absent any large scale human wallet deletions, that’s a good sign for humans and their hard to algorithmically mimic skills. This circle of high-volume human traders attests to strategy, timing, and sheer persistence in an increasingly bot-centric space. According to @Adam_Tehc , 93 of the top 100 wallets by trading volume on Pump Fun/PumpSwap are bots—defined as wallets active more than 18 hours per day. Across all wallets, 2 have traded over $100M, 785 over $10M, 11,843 over $1M, 121,755 over $100K, 685,160 over $10K, and 3.7… — Wu Blockchain (@WuBlockchain) June 9, 2025 Millions Join the Frenzy, But Most Stay Small While the top volume echelon is increasingly inaccessible to casual users, Pump Fun still has millions of active wallets trading smaller amounts. Data shows that 121,755 wallets have traded over $100,000 in volume, making them the top 0.80% of our user base. Meanwhile, 685,160 wallets have crossed the $10,000 threshold, placing them in the top 4.49% of our user base. An impressive 3,725,559 wallets have crossed the $1,000 threshold, putting them in the top 24.4%. These statistics point to a substantial grassroots foundation on the site. Many novices and small-scale traders engage in the platform’s most basic activity: trading. And while trading by non-professionals might seem a recipe for market inefficiency (if not disaster), what we have here is a liquid ecosystem in which the evenings of speculation, meme-making, and opportune trades keep the pump pumping. While Pump Fun keeps developing, either the users or the developers may need to deal with a tension that is said not to exist. At issue is whether the platform is accessible—and to whom, in what circumstances, using which tools, and with what security—if bots are not caught and disabled in time. If the developers implement anti-bot measures, the problem of accessibility may become more pronounced than it is now. Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services. Follow us on Twitter @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news !
The AI agent sector regained strength this week as the markets gained momentum and investor sentiment became bullish. In just the past 72 hours, the total market capitalization of AI agents rose 2.09% and hit $9.64 billion, according to the latest update from @virtuals_io. This rebound signals a potential turnaround for the sector, which had only recently seen minor corrections amid broader volatility in the digital asset space. The $VIRTUAL asset is the flagship in the Virtuals ecosystem, marking steady though minimal increases across key figures. It is up 1.28% in the last 24 hours and is currently trading at $1.7826. The performance of this token has not gone unnoticed, and it is sighted with increased mindshare and ecosystem market cap as a growing cryptocurrency. Its ascent carries a tinge of a confidence shift among traders. Virtuals Mindshare Grows, Market Shows Renewed Confidence The most impressive figure from the latest Virtuals Daily Update is the increase in mindshare—an indicator of brand and platform visibility across the AI agent sector. Virtuals’ mindshare has climbed 2.96% to now stand at 39.04%. This is, of course, an entirely arbitrary sector for which to keep tabs on the apparent reach and influence of a platform or brand, but it seems to be the best way to gauge the visibility of the Virtuals entity itself. Simultaneously, the total market cap of the Virtuals ecosystem blossomed by 1.11% to reach $2.21 billion. Although not as eye-catching as the surges experienced by certain individual assets, this upward trajectory showcases not only the continued growth of the Virtuals ecosystem but also the ecosystem’s robust structure following a period of volatility. This upward movement also underscores the positioning of the Virtuals ecosystem in the current broader AI-powered movement, as the ecosystem keeps pulling in builders, users, and traders that are interested in decentralized, AI-powered platforms. Virtuals appears to be a strong contender in the AI agent infrastructure space. Price increases have been modest. There is increasing awareness in the marketplace—or mindshare, as the industry calls it. But the most important indicator of Virtuals’ possible staying power and move toward commercialization is the increasing value of its ecosystem. Virtuals Combination of modest price increases, stronger mindshare in the marketplace, and a steady rise in ecosystem value suggests that it may soon be a serious contender for a sustaining base in the AI agent infrastructure space. Mid-Cap AI Agents Lead the Charge with Explosive Gains Although $VIRTUAL displayed continuous growth, it was not the day’s most impressive performer. That title belonged instead to our mid-cap AI agents, several of whom recorded double-digit gains that greatly outperformed the rest of the market. According to Virtuals’ latest report, momentum has heavily rotated into these mid-cap projects as our confidence in the sector has improved. At the head of the list of gainers is VCTRAI (@Aigent_Victorai), with a 44.17% jump in its market capitalization over the past 24 hours. Hot on its heels is H1DR4 (@H1DR4_agent), which recorded a 35.51% gain. BYTE (@Byte__AI) follows with a cool 29.79% upswing. LOKY (@0x_Loky) and AXR (@AlxVC_Axelrun) rounded out the top five gainers, with moves of 25.78% and 21.45%, respectively. These figures suggest that investors are rotating capital into the emerging names of the AI agent ecosystem. This is a very encouraging sign for those projects. Virtuals Daily Update | June 9th, 2025 Stay up to date on all news from the @virtuals_io ecosystem over the last 72 hours… pic.twitter.com/jmXu3xNmy7 — Graeme (@gkisokay) June 9, 2025 We are also seeing signs that the AI agent ecosystem is maturing, as traders are diversifying beyond core assets to find other things they can invest in. As usual, those watching the markets are advised to monitor these movements closely, as breakouts among mid-cap stocks often signal larger shifts in the overall market. Looking Ahead: Signs Point to Potential Consolidation and Breakouts Even though the short-term charts look good, analysts and traders are now looking for possible consolidation zones among AI-agent stocks. With the overall market showing signs of recovery, and with money flowing into mid-cap stocks, the next few days could be crucial. The increasing recognition, stable token performance, and rising market caps of the Virtuals ecosystem suggest that it is in a crucial accumulation phase. This might well be the setup for a fresh wave of breakouts, especially if the “risk-on” sentiment in the overall crypto market continues. As ever, people interested in participating are urged to use the referral links to enter the ecosystem and benefit from the swelling tide. When more than $9.6 billion is coursing through the AI agent space, Virtuals is one of the most observed and sited platforms in the sector. Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services. Follow us on Twitter @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news !
Metalpha, a prominent player in the crypto asset management sector, executed a significant withdrawal of 18,000 ETH from Binance earlier today, as reported by LookIntoChain monitoring. This transaction, valued at
The wider crypto market is now in a bearish phase, but the price behavior of native tokens such as ETH, SOL, and TRX is showing some unexpected patterns—making us question some of our recent assessments models. Tokens, of course, are affected by sentiment and trading volume, and recent performance is more or less in line with what we might expect given the current overall market conditions. But when you start looking under the hood at what’s really going on at the most basic level—what’s coming in, what’s going out, and what’s being done with what’s been either issued or destroyed, you start seeing some really interesting things. The research shows that Tron, often viewed as the underdog in comparison to Ethereum and Solana, has sneakily outshone both rivals in vital areas like token destruction, net supply alterations, and even annual price expansion. Meanwhile, Ethereum hangs around, propelled by the still-thriving DeFi and LRT ecosystems. Solana, in contrast, has failed to build on its earlier buzz as an “Ethereum killer,” bogged down, inflationary, and with an almost 2018-style fading meme. Token Issuance Trends Reveal Supply Dynamics A primary aspect determining the worth of any native token is the quantity that is being given out or put into circulation. In the last year, Ethereum enjoyed a comparatively calm uptick in total supply, with 575,897 ETH converted into circulation—equal to an approximate $1.445 billion—representing a peaceful 0.47% growth rate. This issuance is in line with Ethereum’s current migration toward a more deflationary model post-Merge and EIP-1559. Even so, ETH did still see net issuance. On the contrary, Solana had a significantly higher issuance rate. Altogether, 24.82 million new SOL tokens started circulating, bringing in about $3.7 billion in freshly minted value—an inflation rate of 4.12%. That figure is particularly remarkable because it’s the exact opposite of what you’d expect from an Ethereum-based project that aims for deflation. Next is Tron, which delivered a surprising twist: it achieved a negative issuance rate. The total supply of TRX decreased by over 1.46 billion tokens, equating to a 1.55% contraction and approximately $420 million in value. This net reduction in supply positions Tron as the only one of the three networks to actually reduce circulating supply over the past year. In our assessment, this is a stronger commitment to controlling inflationary pressures than what the other two networks are doing. Token Destruction: Tron Leads the Pack Token supply management and value preservation don’t just hinge on token issuance; they also depend on what happens to tokens once they’re in circulation. For the past year, Ethereum has had a pretty good story to tell on this front. Its basic narrative could be summarized in a meme: “ETH good, NFTs better, or even memes best.” More seriously, if we look at ETH supply growth and the overall issuance of ETH in the context of a story of rising demand for network usage, the two graphs below tell a pretty decent story about the ETH supply and demand situation. Higher nominal destruction was recorded on Solana compared to Ethereum, which burned 2.25 million SOL; that would be worth around $337 million today. The burn rate was at its peak during January 2025, an episode that was obviously driven largely by what’s become an incredible speculative mania for trading meme coins. However, in terms of the issuance of Solana overall, the amount being burned relative to that was just way lower. And as the mania around meme coins has quieted down, so too has the burn rate. 决定 $ETH / $SOL / $TRX 这类公链原生代币涨跌的主要因素，除了市场买卖力量还有什么？ —— 增发与销毁情况 去年 11 月的上涨行情中我曾整理三条网络的相关数据，大半年后的今天，看看 Memecoin 热度消退且大盘走熊的现在，情况又如何吧 增发情况对比 Ethereum：总供应量 1.2 亿枚，近一年增发… pic.twitter.com/k7IAfVeXBN — Ai 姨 (@ai_9684xtpa) June 9, 2025 Once again, Tron stood apart. Over the past year, it burned 3.35 billion TRX, worth about $958 million—more than either Ethereum or Solana. Notably, over 96% of this burning was tied to TRC20-USDT activity, indicating a consistent and utility-driven source of token destruction. Unlike Ethereum and Solana, where destruction rates fluctuated with market trends, Tron’s burn activity peaked in August 2024 and remained relatively steady, thanks to the network’s integration with USDT and its delegated proof-of-stake consensus model. Price Performance Defies Expectations Good tokens and their performance: – Even though Ethereum and Solana dominate the narrative, token performance tells a different story. – Over the past year, the value of ETH increased by a respectable 32.36%. – SOL experienced a modest increase of 8.47%, which seems to hinge on meme coin activity—activity that has, thankfully, decreased. – TRX, on the other hand, surprised everyone with a staggering 151.69% increase in value over the past year, making it by far the best performer in this peer group. This unexpected result suggests that market stories don’t always match the underlying fundamentals. Ethereum’s worth is inextricably linked to DeFi and the utility of LRT, rendering it far more susceptible to the transaction volume than a typical crypto asset would be. And Solana, after being proclaimed as the future of high-speed blockchain apps, surged during the meme coin mania but is now sinking under the twin pressures of increased competition from BSC and others and a decline in its core altcoin narrative. Tron often escapes the notice of eminent discussions in the world of cryptocurrency. It largely maintains a silence that belies an effective and efficient strategy that keeps the Tron network a favorite among many. And its token, TRX, has performed in ways that have won it many fans. What are the main elements of this strategy? 1. Consistent supply reduction 2. Steady burn rates powered by USDT usage 3. Robust consensus mechanism All of these are executed in a disciplined manner that keeps Tron quietly humming along. In conclusion, trading activity may be the most visible price driver, but long-term performance in this bearish cycle is starting to be determined by how networks manage issuance and destruction. Based on our data, Tron may have just cracked the code on sustainable token economics. That’s pretty much it. Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services. Follow us on Twitter @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news !
A prominent advancement for the digital asset ecosystem, total market cap of stablecoins has surged past $250 billion. This milestone marks a clear uptick in investor interest and confidence in crypto markets as the figure stood at a low of about $123 billion in mid-2023. More than a twofold increase has occurred in just half a year’s time. Stablecoins are often portrayed as the monetary base of the crypto economy. They are the bridge between traditional finance and decentralized networks. The increasing supply of stablecoins not only reflects user demand but also serves as the base liquidity layer for centralized exchanges, decentralized finance (DeFi) platforms, and emergent Web3 applications. The freshest statistics point to a return of capital that is widespread and well-distributed. Analysts see this return best reflected in the rapid rise and sharp uptick in the circulation of a specific type of digital asset: stablecoins. Stablecoins are now everywhere, and it is their health and the health of the businesses backing them that provides the most reassuring picture for anyone worried about what comes next for the digital asset space. USDT and USDC Maintain Dominance, But New Entrants Gain Ground Tether’s USDT stablecoin holds a commanding 62% market share and is far ahead of its nearest rival in the stablecoin sector. Tether has long occupied the position of being the most liquid and widely used stable asset not just in the crypto community but across exchanges that are centralized as well as those that are decentralized. Tether’s presence and use in emerging markets and in cross-border transactions is something that can hardly be matched by any other stablecoin. It tracks with Tether’s advancing footprint in the crypto scene. The next stablecoin after USDT is USDC, issued by Circle. USDC makes up 24% of the stablecoin supply. Though its share has dipped from earlier highs, USDC remains the preferred stablecoin in regulated environments and among U.S.-based institutional users because USDC has a strong reputation for transparency and a compliance-oriented business model. Stablecoins market cap surpasses $250B in a new milestone for crypto liquidity The total value of stablecoins in circulation has climbed past $250B, more than doubling from a ~$123B low in mid-2023. $USDT remains dominant at 62%, followed by $USDC at 24%, while a growing… pic.twitter.com/sxCNmrtNzv — CryptoRank.io (@CryptoRank_io) June 9, 2025 In addition to the two dominant players, the number of alternative stablecoins in the market is growing. Tokens like $USDe, $DAI, and $BUIDL enjoy adoption and offer utility on a level that is becoming too substantial to ignore. These stablecoins are different, each with its own approach to stability and design: —$USDe employs a decentralized autonomous organization with over 100,000 members to govern its monetary policy. —$DAI is a collateral-backed stablecoin that achieves real-world stability through over- and under-collateralizing processes and smart contracts. — $BUIDL, a product of the blockchain accelerator program at the University of Hong Kong, is a “shopping basket” stablecoin that utilizes 12 different cryptocurrencies to form its asset backing. While these newcomers don’t yet have the heft of USDT or USDC, the stablecoin ecosystem is varied enough that it can sustain different flavors and features of stablecoins. Stablecoin Growth Reflects Surging Crypto Liquidity In less than a year, the supply of stablecoins has doubled. This carries major implications for the crypto market at large. Stablecoins are typically not held for long-term gains like speculative assets. Instead, they serve as “dry powder”: ready capital that investors deploy into various digital assets, protocols, or financial products. Because of this, the stablecoin market’s size is often seen as a real-time measure of liquidity. The current $250 billion figure says that on-ramps are being built, that funds are coming back into crypto, and that the space is being set up for what investors hope will be some kind of return to normal trading volumes, project funding, and heightened development activity. The renewed interest in the issuance of stablecoins also indicates a mounting demand for safety and flexibility in today’s shaky marketplaces. To be sure, stablecoins are being sought for these purposes, but they are being looked at with an entirely different dynamic, one that is edging us ever closer to the idea of a digital dollar. Despite the Federal Reserve’s having no plans to take such a step, there is a market for fully reserved stablecoin assets—and that presents an opportunity to today’s lookalike, light version of the convertible dollar. A Barometer of Confidence and Market Readiness The growing stablecoin mcap allows us to gauge confidence in the blockchain ecosystem. Onlookers who are conferring resources to the ecosystem – be they individuals, institutions, or developers – rely on stablecoin mcap as an entry/exit gauge when allocating capital in either direction. The present macroeconomic conditions—characterized by a change in monetary policy, a regulatory examination, and a continued institutional trial of tokenized finance—have not stifled the growth of stablecoins. If anything, they seem to have accelerated it. In the future, the growing monetary base could serve as a launching pad for the next big thing in digital assets to happen, and for the next big thing in digital assets to also produce some nice price movements—a.k.a. springboard. That is because we are seeing once again that as capital flows back into the system, reliable alternative stablecoins are also flowing back into the system, and these two opening capital accounts are diversifying and rebuilding the crypto economy. At this point, getting past the $250 billion mark represents both a practical and a symbolic change—a change that says something very clear and very big: that stablecoins are the monetary structure of digital finance. When you look at their size, stablecoins are now the most substantial part of the structure of digital finance. Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services. Follow us on Twitter @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news !
Cetus Protocol—the decentralized exchange (DEX) on the Sui blockchain—has made an official relaunch following a disastrous exploit, signaling what could be a strong comeback. The relaunch, which happened Sunday, comes with a number of strategic decisions that the company hopes will restore trust with the community, shore up security, and push forward decentralized development. A major exploit hit Cetus, a key player in the Sui DeFi ecosystem, disrupting operations and draining liquidity from several pools. In response, the team executed a full platform reboot and has managed to restore affected liquidity pools to between 85 and 99 percent of their original assets. This rapid recovery highlights both the tenacity of the protocol and the determination of the development team to come back stronger. Community-First Recovery and Compensation Plan In the recovery initiative, the Cetus team has set aside 15% of its native token, $CETUS, to make amends with users affected by the exploit. The reparation comes in two parts: first, they immediately distributed 5%, and they will unlock the remaining 10% over the next 12 months (starting on June 10). This staggered release respects the gesture’s intention while also attempting to keep the token’s price from suffering any adverse effects. DEX Comeback After Exploit – $CETUS Goes Open Source! After a major exploit, Cetus Protocol, $Sui DEX, is officially back online. The team relaunched the platform on Sunday, fully restoring functionality and replenishing affected pools with 85–99% of their original… pic.twitter.com/WFWE6tsKea — cryptophilip (@FaschingPhilip) June 9, 2025 Cetus is taking a community-first approach to restitution, one that not only repays losses but also strengthens user loyalty and aligns long-term incentives. By leveraging token-based compensation, the decentralized exchange is making amends for a multi-million dollar hack that lost user funds earlier this year. This move has been broadly well received across the Sui ecosystem, especially as it coincides with other proactive steps being taken to improve the platform’s transparency and resilience. At a moment when the DeFi space is seeing a rising number of exploits and rug pulls that are worryingly common, the speedy response and well-structured compensation plan drawn up by the Cetus team set a notable example for crisis management in our industry. Going Open Source: A Strategic Pivot Toward Transparency Cetus Protocol’s post-exploit strategy features perhaps its most consequential move: a decision to go open source. This was announced alongside the relaunch of the protocol. The decentralized exchange (DEX) will soon make its codebase publicly accessible, inviting any number of developers, auditors, and community members to review ostensibly the protocol’s weak spots, much as people do with bug reports for encrypted messaging apps. They will then strengthen these weak spots, piece by piece. Cetus is also starting a new white-hat bounty program at the same time that it is transitioning to a DAO. This program is intended to attract ethical hackers and security researchers. The job of those attracted to the program is to find and forthrightly report vulnerabilities that exist in the platform before the vulnerabilities can be exploited. By rewarding those who help in this way to secure the platform, Cetus can better handle would-be threats to its operational assurance. The open-source pivot represents a crucial reformation in how the protocol functions and presents itself to the populace. When one talks about doing a “pivot” (which has always been a part of the DeFi ecosystem), it usually signifies taking a step back to reassess what you’re doing and then altering your course based on that assessment. However, the protocol’s recent open-source shift also seems to radiate, across our own assessment in The Block, a core ethos of decentralized finance. Rebuilding credibility is especially important after the loss of user funds. Stakeholders in the cryptocurrency sector are still reeling from trust being broken. Until the powers that be in this industry can show to users and to the world that they are capable of not only policing but also of being transparent with their business operations, 24/7, in both good times and bad, then my hunch is that cryptocurrency will have another very hard hill to climb. Legal Action and Accountability on the Table Although the trust of the users has been compromised, the team is concentrating on a two-pronged approach. One prong is work on rebuilding the protocol, live with the necessary services maintained, and the path to regaining the user trust that has been lost. The other focuses on pursuing legal action against the perpetrator of the exploit. Investigations are confirmed as being underway across many places and with many persons. Even though the particulars of the attack have not been completely revealed, the ongoing legal pursuit makes it clear that Cetus is not taking this problem lightly. Often in DeFi-related exploits, we see a lack of commitment to the legal follow-through, but by Cetus’ pursuing the legal route, it could lend some seriousness to the situation and potentially help future victims of DeFi exploits. In the end, the Cetus Protocol recovery is about more than just restarting the protocol; it is a full-scale case study in how to respond to a protocol emergency. Cetus is doing many things right—restoring liquidity quickly, compensating users, embracing open-source development—and many of its moves indicate that the DEX will emerge from this crisis a more secure, transparent, and community-aligned platform. Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services. Follow us on Twitter @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news !
Bitcoin broke above $107,000 on Monday in a notable respite and kept climbing to $110,500 on Tuesday morning, following last week’s turbulence sparked by the Trump-Musk fallout. The latest on-chain data now suggests that the crypto asset may be preparing for its next upward move, as several key indicators reflect growing bullish sentiment. Bitcoin Demand Strengthens According to CryptoQuant’s latest update , one of the primary signals comes from Binance’s Taker Buy/Sell Ratio, a metric that measures the volume of market buy orders relative to market sell orders. The metric has recently surged to 1.1, which means that traders on Binance are showing significantly more buying aggression than selling. Historically, values above 1 tend to reflect a shift toward increased demand and bullish market behavior. Another supportive indicator is the 90-day Buy/Sell Pressure Delta, which is climbing toward previous historical peaks of around 0.02. This delta represents the net accumulation behavior across the market. Although the current level is not yet excessive, it suggests sustained accumulation without signs of overheating. This environment could be conducive to gradual price expansion. Re-Accumulation Phase Bitcoin’s price has broken above the UTXO (Unspent Transaction Output) 1-day to 1-week band. This band tracks coins moved within the last week, and its breakout indicates that newer coins are now in profit and are being held rather than sold off. Such breakouts have previously preceded transitions from distribution to re-accumulation phases, and often indicated that a newer cohort of investors is entering the market with strong holding conviction. Further validating this narrative is the rise in the Realized Cap held by long-term holders (LTH), which has now surpassed $56 billion. This suggests that coins are increasingly moving into wallets that have historically held assets for over 155 days, which reflects a general lack of intent to sell. These wallets tend to represent “smart money” that accumulates rather than exits during bullish phases. Considering all these factors together, the data reflects a market that is neither in euphoria nor fear, but showing clear signs of strengthening fundamentals and increasing investor confidence, which could point to the possibility of Bitcoin’s next leg higher, despite June jitters . The post Signs of Accumulation Emerge as Bitcoin (BTC) Shipped to $110K appeared first on CryptoPotato .
The renewed energy in the markets at the week’s start has carried over nicely into the cryptocurrency space, with Bitcoin—BTC —making a dramatic return to the $108,000 level as we now head toward the weekend. Just four days ago, BTC was on the edge of dipping below the less-than-psychological $100,000 threshold. Retail traders in the space had been FOMOing heavily into Bitcoin, which had pushed its price so high that some were starting to call it a bubble. Panic selling in these same retail traders pulled the market downward, but now we are back on the way up. The price of Bitcoin surged from 105,000 dollars to 107,000 in a matter of hours on Monday, before further increasing to touch 108,000 dollars. The move, of course, came as a pleasant surprise to holders, but it was also something of a relief to soured market sentiment, which, only weeks earlier, had taken the nascent industry to new depths of despair. Monday’s surge led some observers to hypothesize about the return of a bull market, even if others pointed wryly to the nature of Bitcoin’s recent trading and the kinds of things that are often said before a major price drop. Monday has kicked off with a bang for crypto traders, as Bitcoin has quickly returned to $108K. After threatening to fall below $100K just 4 days ago, retail traders panic sold. Now, they are showing signs of flooding back in with the 2nd largest spike in FOMO in the past 2… pic.twitter.com/ZlPvHy8CGg — Santiment (@santimentfeed) June 9, 2025 Short Liquidations Spark Rally The most recent surge in the market seems to have been generated by overzealous short sellers being forced to cover their positions. One measurable effect of this was seen between 1 and 5 PM, on a Monday afternoon, when total liquidations of short positions jumped from $105,000 to $359,000. Rising prices were clearly doing their job, but it is also possible that some market orders had hit certain key price levels, generating an uptick in price behavior that even more short sellers wanted to stay away from. All in all, something like $250 million worth of short positions were liquidated during this time. $BTC jumped from $105K to $107K today – likely fuelled by a wave of short liquidations. Over just 4 hours, total short liquidations spiked from $105K to $359K (24H SMA). Last week’s negative funding rates had pointed to rising short appetite, and today, those bets got squeezed. pic.twitter.com/TMkdyXjOUZ — glassnode (@glassnode) June 9, 2025 In the week leading up to today, the funding rates across the main derivatives exchanges swung negative and maintained that position. This was a clear signal that traders were heavily shorting Bitcoin. And when a trading environment is heavily short, it becomes increasingly ripe for a short squeeze, which is when the price unexpectedly moves upward and forces traders who are short (betting that the price will go down) to the buy side in order to cover their now losing position. Although rapid upward price spikes can result from a short squeeze, they are not necessarily long-lasting. Traders now must watch for sustained follow-through volume and for new buying pressure—especially from institutional investors—to step in and support these elevated price levels. Retail Sentiment Turns Euphoric Once Again Retail-driven enthusiasm is surging again, as seen on social media where the FOMO meter is registering its second-largest spike in the past two weeks. This is bringing previously sidelined retail investors back into the market. It is almost hard to believe after the plunge seen just days ago when Bitcoin was at a sub-$100,000 breakdown level, but this enthusiasm is the real deal. In the past, Bitcoin has had a tendency to move in the opposite direction of extreme retail sentiment. When FOMO (fear of missing out) reaches its highest levels, it coincides with local tops for Bitcoin. Likewise, when the crowd is in a state of capitulation (when everyone is throwing in the towel), it has frequently marked a bottom for Bitcoin. This sentiment dynamic is particularly intense in crypto, where price action is often driven by psychological and behavioral patterns. Particularly, social media has turned out to be a counter-indicator of sorts. When it is retail traders who are dominating the platforms, it is also the same time that experienced market participants are reducing their exposure. Given the intensity of today’s surge in retail sentiment, the next 24-48 hours should tell us a lot about the duration and sustainability of this current rally. #Bitcoin spot ETFs saw net outflows of -4.6K $BTC last week – first negative week in 8. Total holdings are now 1.20M #BTC , down ~11.5K #BTC from the late-May peak. A pause in demand after a strong run-up – watch for signs of re-acceleration. pic.twitter.com/TCVz5sL65Z — glassnode (@glassnode) June 9, 2025 ETF Outflows Raise Questions About Institutional Appetite Although captivated by recent short-term price movements, traders should also be mindful of emerging signs indicating a slowdown in institutional demand. Last week, Bitcoin spot exchange-traded funds (ETFs) experienced net outflows of 4,600 BTC; that marks the first negative week for ETFs in eight. Total ETF holdings now stand at approximately 1.20 million BTC. They are down roughly 11,500 BTC from their peak in late May. Institutional investors might be either taking profits or pausing to reassess after the recent strong run-up of several months in that they might be either taking profits or pausing to reassess after the recent strong run-up of several months in that they might be either taking profits or pausing to reassess. Signs of renewed ETF inflows would be clear evidence of continued institutional interest and, we think, could act as a strong confirmation of the more than just technically squeezed recent rally. At present, the market is experiencing a degree of optimism because of Monday’s rebound. But as always in the world of cryptocurrency, volatility is at a peak, sentiment is changeable, and the next big market move could come just as fast as the last one. Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services. 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