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  • Bitcoin whale shifts $76m into Ethereum with leveraged bets amid ‘Ethereum season’

    Bitcoin whale shifts $76m into Ethereum with leveraged bets amid ‘Ethereum season’

    Bitcoin whale shifts $76m into Ethereum with leveraged bets amid ‘Ethereum season’

    • Whale opened $295m ETH longs with up to 10x leverage.
    • ETH ETFs attracted one year’s worth of inflows in six weeks.
    • Institutional ETH reserves surged from $6bn to $17bn in a month.

    An old Bitcoin (BTC) whale has moved millions into Ethereum (ETH), marking one of the largest visible portfolio shifts this quarter.

    Blockchain data shows the whale deposited $76 million worth of BTC into Hyperliquid, sold it, and then opened leveraged long positions in ETH across multiple wallets.

    This transition comes at a time when Ethereum is outperforming Bitcoin, both in returns and institutional inflows, a trend some are calling the start of an “Ethereum season.”

    The move also coincides with surging ETH exchange-traded fund (ETF) inflows and growing treasury allocations to altcoins.

    Whale repositions holdings into Ethereum

    According to blockchain analytics firm Lookonchain, the whale originally acquired 14,837 BTC seven years ago from HTX and Binance at an average cost of $7,242 per coin.

    That purchase, worth $107.5 million at the time, has since grown to more than $1.6 billion.

    Recent transactions show the whale deposited 670.1 BTC, valued at $76 million, into the decentralised trading platform Hyperliquid.

    Following the sale, they initiated long positions worth 68,130 ETH (around $295 million) across four wallets.

    Most trades were executed with leverage of up to 10x, amplifying potential gains or losses.

    Latest HypurrScan data revealed that all of the whale’s wallets are now facing unrealised losses totalling $1.8 million.

    Despite that, the large-scale diversification highlights a clear shift towards ETH during a period when its performance is outpacing BTC.

    Market data from Coinglass shows ETH has delivered a 71.91% return so far in the third quarter, compared to just 6.28% for BTC.

    Ethereum’s gains have pushed analysts to identify the current period as “Ethereum season,” where capital is increasingly flowing into ETH instead of Bitcoin.

    The momentum has been mirrored in market activity, with Ethereum consistently outpacing Bitcoin in daily returns since the start of the quarter.

    Institutional shift fuels Ethereum demand

    Institutional interest in Ethereum has risen sharply. Corporate purchases of Bitcoin for treasury reserves have declined, with just 2.8 companies per day adding BTC to their holdings. By contrast, Ethereum is seeing sustained inflows.

    The Strategic ETH Reserve website reported that ETH holdings by institutional entities rose from $6 billion to $17 billion in the past month, representing an 183% increase.

    This accumulation points to confidence in Ethereum’s market trajectory and its positioning in the broader crypto cycle.

    The whale’s leveraged entry into ETH aligns with this wider trend, suggesting individual and institutional strategies are converging on Ethereum as the asset leading the altcoin phase of the cycle.

    Ethereum season signals next altcoin cycle phase

    Ethereum’s surge is widely viewed as part of the broader “altseason” cycle. In this framework, capital first flows into Bitcoin, then Ethereum, and eventually spreads across other altcoins before a peak.

    With ETH already outperforming BTC in both Q2 and Q3, and institutional investment accelerating, analysts suggest the market may now be entering the second phase of the altcoin cycle.

    The whale’s move to convert part of its BTC into ETH reflects this trend, with its $76 million bet highlighting how long-term holders are adapting to market shifts.

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  • Bitcoin hits new all-time high as Fed easing bets and favorable US policy align

    Bitcoin hits new all-time high as Fed easing bets and favorable US policy align

    Bitcoin hits new all-time high as Fed easing bets and favorable US policy align

    • Bitcoin smashes its record, climbing to a new all-time high of $124,002.
    • Hopes for a significant Federal Reserve rate cut are fueling the rally.
    • A new executive order opens the door for crypto in 401(k) retirement plans.

    Bitcoin blasted through to a new all-time high on Thursday, as a perfect storm of roaring optimism over Federal Reserve policy and a series of powerful pro-crypto reforms converged to send the digital asset into uncharted territory.

    The move signals a dramatic new phase for a market that has been supercharged by a seismic shift in the US political and regulatory landscape.

    In early Asian trading, the world’s largest cryptocurrency climbed as much as 0.9% to touch $124,002.49, decisively surpassing the previous peak it set in July.

    The tidal wave of buying lifted the broader market, with the second−largest token, Ether, surging to 4,780.04—its highest level since the bull market of late 2021.

    The three-pronged catalyst: Fed, institutions, and the White House

    This record-setting rally isn’t a random surge; it’s being powered by a clear confluence of forces.

    According to IG market analyst Tony Sycamore, Bitcoin’s momentum is a direct result of “increasing certainty of Fed rate cuts, sustained institutional buying and moves by the Trump administration to ease investment in crypto assets.” 

    The technical picture is now just as bullish, with Sycamore noting that a decisive move could open the floodgates for a much larger run. “Technically a sustained break above $125k could propel BTC to $150,000,” he wrote in a note.

    The ‘crypto president’ and the $1.6 trillion surge

    Since President Donald Trump’s return to the White House, the regulatory environment in the United States has transformed from hostile to overtly favorable.

    Trump has proudly labeled himself the “crypto president,” and a series of long-sought regulatory wins for the industry have followed throughout 2025, from the passage of landmark stablecoin regulations to a broader overhaul by the securities regulator to accommodate digital assets.

    The market impact of this policy pivot has been staggering. Bitcoin itself has risen nearly 32% so far in 2025.

    More broadly, the entire crypto sector’s market capitalization has ballooned from about $2.5 trillion in November 2024, when Trump won the election, to over $4.18 trillion today, according to data from CoinMarketCap.

    Unlocking retirement billions: the 401(k) game-changer

    The latest and perhaps most significant tailwind came from an executive order signed last week on Thursday.

    The order paved the way for crypto assets to be included in 401(k) retirement accounts, a move that could unlock a colossal new wave of mainstream capital for the asset class.

    This is not just a win for investors; it’s a potential boon for asset management giants like BlackRock and Fidelity, whose crypto exchange-traded funds (ETFs) could become staples of American retirement planning.

    However, this push into long-term savings is not without its perils.

    The very volatility that creates spectacular rallies also poses significant risks, especially for retirement accounts that have historically relied on the relative stability of stocks and bonds.

    For now, though, the market is firmly focused on the upside, celebrating a new era of legitimacy that has sent its leading asset to heights once thought unreachable.

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  • BNB sets altcoin market abuzz amid major Wall Street treasury bets

    BNB sets altcoin market abuzz amid major Wall Street treasury bets

    BNB hits a new all-time high

    • BNB price rallied to new all-time highs amid major institutional interest.
    • After Nano Labs earlier in the day, CEA Industries Inc. (Nasdaq: VAPE) and 10X Capital are eyeing up to $1.25 billion to buy BNB.
    • Initiative could see BNB price explode in coming days.

    BNB price soared to a new all-time high of $859 on Monday as an unprecedented institutional interest and strategic corporate investment bet in the digital asset emerged.

    With Nano Labs doubling down on BNB earlier in the week, it was another Wall Street firm that added to the frenzy of publicly traded companies eyeing BNB.

    That initiative is the plan to raise up to $1.25 billion for BNB by CEA Industries Inc. and 10X Capital – backed by Binance founder Changpeng Zhao’s YZi Labs.

    BNB price hovered around $847 at the time of writing.

    CEA Industries and 10X Capital’s takes bold BNB bet

    On Friday, CEA Industries Inc. (Nasdaq: VAPE) and 10X Capital, backed by YZi Labs, announced a $500 million private placement.

    The companies are looking to establish the largest publicly-listed BNB treasury company in the U.S.

    The deal, which could reach $1.25 billion with exercised warrants, aims to acquire substantial BNB holdings, and will offer institutional and retail investors exposure to the BNB Chain ecosystem.

    Led by David Namdar, co-founder of Galaxy Digital, and Russell Read, former chief investment officer of CalPERS, the initiative comes as BNB stands out.

    The coin’s surge to a new all-time high puts these plans into sharper focus, bringing more attention to the cryptocurrency.

    “Treasury companies have proven to be the cleanest, most transparent gateway for institutions to access digital assets. With BNB powering hundreds of millions of users globally, this marks the right time for a well-capitalized BNB treasury company to enter the U.S. market,” said Hans Thomas, founder and CEO of 10X Capital.

    The PIPE has attracted over 140 subscribers, with both institutional and crypto-natives joining in.

    Apart from YZi Labs, others are Pantera Capital, GSR, Borderless, Arrington Capital, Blockchain.com, Kenetic, and Protocol Ventures.

    BNB, SOL, and XRP gains amid treasury strategies

    BNB’s price surge aligns with broader market enthusiasm for digital asset treasuries.

    Trading at $847 with a 4.6% daily gain and $3.9 billion in trading volume, BNB is eyeing a potential breakout to $1,000 or higher.

    Much of the upside comes amid a surge in BNB treasury commitments- efforts also seen across Solana, XRP and Ethereum.

    For BNB, such efforts include Nano Labs and Windtree Therapeutics, which recently revealed a $700 million commitment towards a BNB treasury strategy.

    Elsewhere, VivoPower International has launched an XRP-focused treasury, while Upexi and DeFi Development Corp have its eyes on SOL as a treasury asset.
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  • Bitcoin’s surge to $104K liquidates nearly $400M in short bets

    Bitcoin’s surge to $104K liquidates nearly $400M in short bets

    Crypto news today: Bitcoin pushes past $102K as record ETF flows, trade news fuel rally

    • Bitcoin surged over 3% in 24 hours, topping $104,000 (highest since Jan 31).
    • Nearly $400 million in bearish BTC short positions were liquidated in 24 hours (highest since Nov).
    • The significant short squeeze suggests potential for further upside as bearish pressure eases.

    Bitcoin experienced a powerful upward surge in the last 24 hours, decisively breaking above key psychological levels and catching many bearish traders off guard, leading to substantial liquidations of short positions.

    The rally was underpinned by positive macroeconomic news and continued strong institutional interest in the leading cryptocurrency.

    The price of Bitcoin (BTC) climbed over 3% within a 24-hour period, trading around $102,500 and at one point surpassing the $104,000 mark – its highest level since January 31.

    This bullish momentum was not confined to Bitcoin; the broader cryptocurrency market also rallied significantly.

    The total market capitalization of all cryptocurrencies, excluding Bitcoin, surged by an impressive 10% to reach $1.14 trillion, a peak not seen since March 6, according to data from TradingView.

    Two key catalysts appear to have fueled this sharp upswing.

    Firstly, President Donald Trump announced a comprehensive trade deal had been reached with the United Kingdom, a development that generally boosts risk appetite in global markets.

    Secondly, cumulative inflows into US-listed spot Bitcoin exchange-traded funds (ETFs) reportedly hit a new record high, surpassing $40 billion, signaling sustained and growing institutional demand for direct Bitcoin exposure.

    Bearish bets decimated in short squeeze

    This rapid and strong price appreciation triggered a significant “short squeeze,” where traders who had bet on Bitcoin’s price falling were forced to close their positions at a loss as the market moved against them.

    According to data from Coinglass, nearly $400 million worth of bearish BTC short positions were liquidated over the past 24 hours.

    This represents the highest single-day total for short liquidations since at least November.

    A position is liquidated, or forcibly closed by an exchange, when adverse price movements cause a leveraged trader’s account balance to fall below the required margin level, preventing further losses.

    In contrast, a relatively modest $22 million in bullish long positions were wiped out during the same period.

    Implications of the imbalance: more upside ahead?

    The substantial imbalance between short and long liquidations provides a telling insight into recent market positioning.

    It indicates that leverage was heavily skewed towards the bearish side, meaning many traders were anticipating or positioned for a price decline.

    The rapid unwinding of these short positions, as traders were forced to buy Bitcoin to cover their losses, likely exacerbated the upward price movement.

    Market analysts often view such a significant liquidation of shorts as a potentially bullish signal for the near term.

    It suggests that a considerable amount of selling pressure has been removed from the market, potentially clearing the path for further price gains as the prevailing sentiment shifts and buyers gain more control.

    The combination of positive external catalysts and the internal market dynamics of a short squeeze could set the stage for continued upward momentum for Bitcoin and the broader crypto market.

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  • Coinbase CTO bets Bitcoin to $1M in 90 days, but I’m not sure even he believes it

    Coinbase CTO bets Bitcoin to $1M in 90 days, but I’m not sure even he believes it

    Key Takeaways

    • Former Coinbase CTO Balaji Srinivasan bet an anonymous Twitter account $1 million that Bitcoin would trade at $1 million or greater in 90 days
    • Srinivasan is predicting imminent hyperinflation and a collapse of the US dollar
    • Bet is on wildly unfavourable terms, with the other side of the bet, James Medlock, able to lock in massive profit risk-free by simply buying a call option with a $1 million strike for insurance 
    • Bet comes nearly a year to the day after Do Kwon’s infamous bet with another anonymous Twitter account over LUNA price

    I’m no chemist, but one of the most potent mixtures known to humankind has to be that of ego and money. 

    In what may go down in the annals of Internet history, former Coinbase chief technology officer and prominent angel investor Balaji Srinivasan bet $1 million that the price of Bitcoin would be $1 million or greater in 90 days’ time. 

    The bet was confirmed over Twitter, with the other side taken by anonymous meme enthusiast James Medlock. “(My wife) is the only person who knows I am James Medlock”, he posted in another tweet. “And I immediately told her about the bet”. 

    What is the bet?

    The bet started when Medlock posted the below tweet, an innocuous tweet outlining his belief that the US would not experience hyperinflation, apparently in response to some crypto enthusiasts declaring that it was inevitable. 

    It should have ended there. But in came Srinivasan declaring he “will take that bet”. Not only that, but on wildly unfavourable terms. The setup is this: Medlock sends 1 BTC and Srinivasan sends $1 million to escrow today, with the latter denominated in the stablecoin USDC. 

    The logic is that, were hyperinflation to occur and the US dollar to collapse, Bitcoin would reap the gains and explode upwards. Hence, the bet turned from hyperinflation into the Bitcoin price. 

    If Bitcoin trades at $1 million or greater on June 17th, the kitty is Medlock’s. If it doesn’t Srinivasan takes the bounty.

    The bet makes no sense

    Obviously, this bet makes no sense for a variety of reasons. Firstly, the original tweet was a joke, as $1 million in the event of hyperinflation would become worthless. 

    But the crux of it is the terms. Looking at market odds, this is a longshot of almost impossible odds. So much so, in fact, that a massive chunk of the bet could be guaranteed to Medlock in a risk-free manner in about 30 seconds, should he so please. 

    All he would have to do is go to the market and buy a call option on Bitcoin with a strike price of $1 million dollars on the same expiry date of the bet (June 17th). This would cost pennies in comparison, and a massive chunk of the $1 million could be pocketed. 

    Of course, everybody knows this, and the bet is nothing more than a grab at publicity or some sort of self-marketing stunt by Srinivasan. He reportedly already holds a massive stash of Bitcoin in any case, with the bet not being overly material to him. Call me a cynic, but there is also the fact that Srinivasan launched a podcast a month ago. 

    The funny part is that Medlock didn’t have 1 BTC, worth $26,000 at the time, to hand. Poker player Isaac Haxton stepped in to cover the 1 BTC (without taking any upside). Medlock has also said he will donate a total of 70% of the winnings after taxes to charity – yet he will still pocket a cool $300,000 from a tweet which was a literal joke. 

    What would have to happen for the bet to win?

    Were this bet to win, it is hard to imagine what the world would look like. A 3600% increase to $1 million per Bitcoin in 90 days would place the market cap of Bitcoin at close to $20 trillion. That is a mind-boggling number – for one thing, it is more than all mortgage debt in the US. 

    For this to happen in 90 days would likely mean a total collapse of the economy and society as we know it. The banking sector evaporating into thin air and the US dollar collapsing would throw the world into chaos, with an almost unimaginable level of crime, unrest and anarchy. 

    People would lose their life savings and society would collapse near-instantly. And yet, there are Bitcoiners cheering on Srinivasan in this bet. Go figure. 

    In an amusing twist of fate, the bet comes nearly a year to the day that LUNA founder Do Kwon bet with another anonymous Twitter account that LUNA would be a lower price in one year than it was then. This week marked the one-year point, and I think any cryptocurrency investor knows what has happened to LUNA. 

    Some people have too much money and just don’t know what to do with it, I suppose. 

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