Bitcoin’s transformative journey continues as its illiquid supply reaches a historic milestone of 14 million BTC, reflecting a shift in investor sentiment. This unprecedented surge marks the largest 30-day increase
Bitcoin’s price ascent came to a halt yesterday at almost $106,000, where the asset faced a violent rejection that pushed it south to under $101,000 before it staged a minor recovery. Most altcoins have turned red today after the recent gains, led by a massive price slump from PI. BTC Stopped at $106K After trading sideways for about a week at around $94,000 and $96,000, bitcoin finally broke above the upper boundary last week and quickly shot above $100,000. Since that date (May 8), the cryptocurrency has remained well within six-digit territory. Its price climb continued in the past few days, even during the calm weekend, perhaps due to the positive developments on the US-China trade front. The culmination came yesterday as both countries announced a pause in the tariffs, and BTC spiked to a new four-month peak of just under $106,000. However, the bears finally reemerged at that point and stopped the asset’s rise. In a matter of a few hours, BTC slumped hard and dropped below $101,000 for the first time in almost a week. Nevertheless, it has bounced off and now trades close to $103,000. Its market cap has remained at around $2.040 trillion, while its dominance over the alts has recovered some ground and is up to 59.8% on CG. BTCUSD. Source: TradingView Alts Back in Red Most altcoins registered massive gains in the past week or so, and expectedly, have corrected over the past day. Some of the biggest price drops come from the meme coin space, with DOGE, SHIB, PEPE, and WIF dropping by around 10%. PI has dumped the most from the largest 100 alts, having lost 25% of value and trading below $1.15 now. In contrast, XRP is the only exception with minor daily gains, having tapped $2.5. Ripple’s cross-border token neared $2.7 yesterday but was rejected at that point. The total crypto market cap has lost almost $100 billion since yesterday’s peak and is down to $3.42 trillion on CG. Cryptocurrency Market Overview. Source: QuantifyCrypto The post XRP Defies Market Correction Trend, BTC Price Slips Below $103K (Market Watch) appeared first on CryptoPotato .
The analyst who accurately called Bitcoin’s pre-halving correction last year believes BTC is on the verge of igniting rallies en route to new all-time highs. Pseudonymous analyst Rekt Capital tells his 546,700 followers on the social media platform X that Bitcoin needs to take out its last resistance area at around $105,000 to trigger a breakout into price discovery. “Can Bitcoin Weekly Close above the Range High of its recently reclaimed Re-Accumulation Range to kickstart the breakout process? Bitcoin is on the cusp of beginning Price Discovery Uptrend two.” Source: Rekt Capital/X In crypto trading, price discovery generally refers to an asset soaring to uncharted territory and new all-time high levels. With Bitcoin struggling to take out the resistance for now, Rekt says that BTC may need to first revisit a key level below $100,000 and flip it into support before the crypto king erupts. “That means that unless BTC is able to break $104,500 Range High resistance, then anything within that price range would be fair game [this] week. And if the Lower High needs to be turned into support (like in the Post-Halving period; blue circle), dips into $97,000 would satisfy that retest.” Source: Rekt Capital/X At time of writing, Bitcoin is worth $102,473. Looking at Ethereum, Rekt says that ETH has surged into a new trading range after last week’s 40% eruption. According to the trader, the doors are now open for ETH to attack its 2024 highs close to $4,000. “Ethereum [has printed a] Weekly Close in its $2,200-$3,900 Macro Range. Weekly Closes above $2,200 have historically set off uptrends across the Range (blue circle). Any dips, if needed at all, would solidify $2,200 as Range Low support.” Source: Rekt Capital/X At time of writing, ETH is worth $2,469. 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 Crypto Trader Says Bitcoin on Cusp of Price Discovery Phase, Sees Ethereum Attacking December Highs appeared first on The Daily Hodl .
Ripple’s XRP has surged ahead of Tether for the first time since 2021, signaling a renewed wave of investor confidence in the cryptocurrency market. Market data reveals a significant increase
Bitcoin’s solid April performance has caught attention, with Galaxy Digital saying investors are starting to rethink its role in portfolios. As markets struggled to find direction in April amid fresh tariffs and growing policy concerns, Bitcoin ( BTC ) quietly climbed 11%, doing better than gold, tech stocks, and even the U.S. dollar, raising new questions about its role in today’s market, analysts at Galaxy Digital wrote in a recent research report . Galaxy Digital said this may be a sign that investors are beginning to treat Bitcoin “less as a speculative vehicle and more as a strategic, long-duration allocation.” “The shift is particularly evident when looking at fund flows. U.S.-listed spot Bitcoin ETFs saw $2.9 billion of net inflows in April, a sharp reversal from about $4.4 billion in outflows across February and March.” Galaxy Digital In early April, U.S. President Donald Trump announced the so-called “Liberation Day” tariffs, triggering market volatility. While the Nasdaq stayed flat and the Bloomberg Dollar Index fell nearly 4%, gold jumped 5.75% before pulling back. But Bitcoin led the pack with double-digit gains and showed lower volatility than the S&P 500 and Nasdaq 100. You might also like: Bitcoin price poised for breakout with $127k target if $106k cracks soon Ian Kolman, director & co-portfolio manager at Galaxy Digital says Bitcoin’s supply and demand dynamics are “solidifying its place as a mature digital store of value.” The New York-headquartered firm noted that Bitcoin’s 30-day correlations with the S&P 500 and Nasdaq remain elevated, but its beta has declined, suggesting that while it still moves somewhat with equities, its sensitivity to market stress is fading. Galaxy Digital suggests these trends reflect “broader recalibration” by investors who are now hedging against “systemic concerns — ranging from political interference in the Federal Reserve to the long-term sustainability of U.S. fiscal policy.” As of press time, Bitcoin is trading at $102,795, up 9.17% over the past week, per crypto.news’ price tracking page. Read more: Whale accumulation suggests Bitcoin could be eyeing $110K even as retail capitulates: Santiment
Key points: Bitcoin has seen its largest 30-day illiquid supply increase of the current bull market. Illiquid supply now stands at 14 million BTC, more than ever before. Whales are still accumulating as the price returns to six figures. Bitcoin ( BTC ) investors are turning the BTC supply more illiquid than at any point in its history Data from onchain analytics platform Glassnode shows that Bitcoin’s “illiquid supply” has reached a record 14 million BTC. Bitcoin illiquid supply returns to all-time highs Bitcoin is increasingly finding its way into the hands of entities that do not sell what they acquire. Glassnode, which charts the portion of the BTC supply owned by so-called “illiquid entities,” reveals that this has reached levels not seen during the current bull market. An entity is considered illiquid if the ratio between its cumulative BTC inflows and outflows is below a certain value. “This ratio yields a number L between zero and one, with larger values indicating higher liquidity,” it explained in a dedicated guide . “Liquidity is therefore the extent to which an entity spends the assets it receives. Illiquid entities are those that hoard coins in anticipation of a long-term BTC price appreciation.” Bitcoin illiquid supply. Source: Glassnode Illiquid supply stood at just over 14 million BTC this week, with the 30-day rolling increase coming in at 180,000 BTC, its largest jump since December 2022. At the time, the previous bear market was coming to an end, with BTC/USD declining 77% to hit long-term lows of just above $15,000 in the process. Bitcoin 30-day illiquid supply change. Source: Glassnode Whale BTC accumulation “significant” As Cointelegraph continues to report , this bull cycle stands out in terms of investment trends thanks to increasing institutional participation. Related: BTC bulls get ‘biggest signal’ — 5 things to know in Bitcoin this week Corporate treasuries, such as that of business intelligence firm Strategy, have combined with the US spot Bitcoin exchange-traded funds (ETFs) to make Bitcoin a mainstream investment target. Onchain data likewise shows that Bitcoin whales have accumulated throughout the recent BTC price rebound. Only retail investors appear to be panicking. “Bitcoin’s key whale & shark tier (holding 10-10K BTC) have now accumulated 83,105 more BTC in the past 30 days,” research firm Santiment reported in an X post this week. “Meanwhile, the smallest retail holders (holding Bitcoin whale and shark accumulation data. Source: Santiment/X 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.
Nasdaq-listed GD Culture Group announced that it has chosen Bitcoin (BTC) and US President Donald Trump's memecoin Official Trump (TRUMP) as part of its cryptocurrency holding strategy. According to the official statement, GD Culture Group announced that it has reached an agreement to sell $300 million worth of shares to finance its cryptocurrency strategy. At this point, the company has signed a stock purchase agreement with a British Virgin Islands-based company that has pledged to provide up to $300 million in financing to purchase Bitcoin and TRUMP as long-term reserve assets. GD Culture Group stated that the funds will be used to support its crypto treasury strategy, including the purchase of Bitcoin and TRUMP. Mr. Xiaojian Wang, Chairman of the company, said: “GDC’s adoption of crypto assets as treasury reserves is a deliberate strategy that reflects both current industry trends and our unique strengths in digital technologies and the livestream e-commerce ecosystem. Our significant partnership with the British Virgin Islands-based investor provides strong momentum for this initiative, reinforcing our leadership in pursuing growth opportunities and embracing blockchain-driven industrial transformation. We believe our forward-looking strategy will further strengthen our financial foundation and drive long-term value creation for our shareholders as decentralized finance continues to evolve.” *This is not investment advice. Continue Reading: A $300 Million Critical Move from a Giant Company Listed on Nasdaq! "Bitcoin (BTC) and TRUMP Elected!"
Ethereum's significant growth follows a challenging start to the year. Recovery aligns with expert observations on potential market catalysts. Continue Reading: Watch Ethereum Skyrocket: A Meteoric Rise Outshines Rivals The post Watch Ethereum Skyrocket: A Meteoric Rise Outshines Rivals appeared first on COINTURK NEWS .
Veteran Wall Street investor Jordi Visser posted via X that market news about tariffs masked
To add to things, whale outflows slow and long-dormant wallets are reawakening.