As Asia opens the negotiation day on Wednesday, Bitcoin
It is changing hands above $ 105.5k, a slight correction of $ 107K, where it sat during the business day of the United States.
Despite the geopolitical agitation of the last weeks, with the United States strike over Iran, an event that surprised both geopolitical academics and polymelkal tractors, BTC has once again demonstrated a reserve of resistant value. Coendesk market data show that the asset class has been quite stable during the last month, 1%more.
But this return at a price that is seen centimeters from the historical maximum of BTC of $ 111k, which reached in May, feels more disciplined than euphoric, according to market observers.
Unlike the breakdown of December 2024 above $ 100K, which triggered a wave of earnings, long -term investors now seem happy to sit in their earnings, as Glassnode wrote in his weekly note.
“Hodling seems to be the dominant market mechanics,” wrote Glassnode analysts, citing an increase in the supply of long -term holders to 14.7 million BTC and historically low profits. The activity in the chain indicates a limited desire to sell, even when BTC quotes just below record levels.
Metrics such as the Gassed Production Gain Relationship (ASOPR) It also reflects this moderation, around the balance, according to Glassnode. This suggests that the coins spent are recent acquisitions. Think: tactical trades instead of wide distribution.
Meanwhile, Glassnode data shows that the metric of vivacity continues to decrease, reinforcing that the oldest currencies remain inactive.
This patience is being fulfilled by persistent institutional demand, as QCP wrote in its update of daily markets.
Market data indicates that $ 2.2 billion in net tickets to ETF Spot BTC occurred last week, with QCP that describes the tone as “constructive” and pointed out that players such as strategy and Metaplanet continue to accumulate.
These constant inputs are silently remodeling the structure of the market. Bitcoin’s limit, a measure of the price at which the coins moved for the last time, has grown to $ 955 billion, which is probably a sign that real capital, not only speculation, is moving to the asset.
Even so, not everything is calm under the surface. QCP points out that leverage long positions have increased, with positive financing rates in the main markets of perpetual futures.
Glassnode warns that “the market may need to move higher, or lower, to unlock the additional supply”, which suggests that this balance between long -term conviction and short -term leverage will not be maintained forever.
With BTC just moving after the Senate approved the ‘Big Beautiful Bill’ of the White House, the market feels less like a stampede and more as a confrontation between the long -term holders who refuse to sell and the merchants in the short term that accumulate in the leverage.
That fragile balance makes market observers wonder where the next catalyst will come and if you could make the next BTC movement explosive.
Figma has $ 70 million in ETF of BTC: presentation
The Figma design software firm has revealed a $ 70 million position in the Bitcoin Bitwise ETF (Bitb) as part of its IPO presentation.
The presentation shows that the Board approved a BTC investment of $ 55 million in March 2024, which has since been appreciated by 27%.
A separate resolution of a purchase of $ 30 million of USDC, aimed at a future conversion to BTC, raised by the total planned allocation to $ 100 million.
Recently, the Hong Kong DDC Enterprise -based food conglomerate announced a capital increase of $ 528 million this week, aimed at buying 5,000 BTC for three years.
DEFI DEVELOPMENT CORP. to raise $ 100 million in convertible notes, more sun accumulation eyes
DEFI DEVELOPMENT CORP., the first American company that publicly quotes with a treasure strategy built around Solana
He announced in a press release on Tuesday that he plans to raise $ 100 million through a private offer of convertible notes with expiration of 2030.
The offer, made under rule 144a to qualified institutional buyers, includes an option for initial buyers to acquire up to $ 25 million in notes within 13 days of the issuance.
Market movements:
BTC: Bitcoin has about $ 106k, with data in the Glassnode chain that shows the long -term holders to a large extent.
ETH: Ethereum faced a great sale after not breaking the resistance to $ 2,522, finishing a volatile 24 -hour session marked by a negotiation range of 4.5%.
Gold: Gold increased more than 1% on Tuesday, driven by a weaker dollar and global commercial uncertainty, with specific prices that reached $ 3,357.85 and the futures rise to $ 3,353.80.
S&P 500: US actions mixed on Tuesday when investors rotated outside technology, with the S&P 500 falling 0.11% to close at 6,198.01.
In another part of Crypto:
- Binance to keep hundreds of personnel in Singapore despite repression (Bloomberg)
- The New York Attorney General, Letitia James, warns Stablecoin Bills, puts Americans at risk, urges a stronger supervision (The block)
- High in doubt? Cannabis Company makes Dogecoin’s treasure (Decipher)
