Tag: Bitcoin

  • Market update: Bitcoin consolidates near $117K

    Market update: Bitcoin consolidates near $117K

    Bitcoin pulls back; AI token sector market cap hits $29.6B

    • Bitcoin (BTC) is down 1.8% but trades above $117,800 as traders take profits after recent all-time highs.
    • AI-focused crypto tokens jumped 5% overnight as big tech firms like Google and Meta announced massive infrastructure investments.
    • Google plans a $25B data center investment; a Trump-led summit saw over $90B in AI/data pledges unveiled.

    Bitcoin has taken a slight breather as the East Asian business day gets underway, dipping 1.8% but still trading firmly above the $117,800 mark at the time of writing this article.

    This pause comes as some traders take profits after a powerful run that saw the leading cryptocurrency push through multiple all-time highs.

    While bullish sentiment remains strong, with some market participants calling for even higher price targets, seasoned observers are sounding a note of caution, warning that risks are building just as quickly as market enthusiasm.

    A rally on pause?

    The current market sentiment is a mix of unbridled optimism and underlying apprehension.

    There is a palpable belief among some that the recent rally is just the beginning, with bold calls for Bitcoin to reach $160,000, $200,000, or even higher.

    However, Lennex Lai, Chief Commercial Officer at the crypto exchange OKX, warns that this very enthusiasm could be a source of risk.

    “Across platforms, we’re seeing an increase in aggressive long positions and widening funding rates as ‘Crypto Week’ headlines boost sentiment,” Lai told CoinDesk in an interview via Telegram.

    He stressed that at these elevated levels, “risks can build quickly – escalation of trade tensions with the EU, Mexico, and other trading partners could trigger sharp corrections.

    Another risk is letting euphoria drive decisions.”

    Lai pointed to a slate of upcoming macroeconomic announcements that could sway global risk sentiment and set the tone for broader markets.

    These include the UK Consumer Price Index (CPI) release, as well as the US Core Producer Price Index (PPI), retail sales figures, and consumer sentiment data.

    Echoes of past volatility and a cautious professional class

    Lai’s concerns echo the findings of a recent H1 2025 market report from K33 Research, which highlighted similar risks and volatility triggers earlier this year.

    The report noted that geopolitical turmoil and trade policy uncertainty have already driven significant market swings, including a sharp 30% correction that saw Bitcoin fall to $75,000 earlier in the year.

    The K33 report also observed that “Bitcoin struggled in this de-risking period but showed subtle hints of relative strength vs equities by outperforming equities in the aftermath of Liberation Day.”

    A key indicator of underlying caution among seasoned traders has been the historically low funding rates seen amidst rising prices.

    “Annualized funding rates averaged at 4.51% throughout the half-year, the lowest average half-year funding rate since December 31, 2022,” when the post-FTX crypto winter was at its coldest, the report stated.

    This suggests that while prices have been rising, professional traders have remained wary of abrupt market reversals.

    Lennex Lai emphasized the need for a disciplined approach in this environment. “In moments like this, smart traders focus on strategy over sentiment, using discipline to manage risk,” he continued.

    “The excitement at the top is real, but those who manage their entries, exits, and funding exposure carefully are best positioned for whatever comes next.” After all, he concluded, “strong momentum doesn’t mean the market is invincible.”

    AI tokens catch a bid as big tech doubles down on infrastructure

    While Bitcoin consolidates, a different corner of the crypto market is experiencing a significant rally. AI-focused crypto tokens jumped by 5% overnight, pushing the sector’s total market capitalization to $29.6 billion, according to data from CoinGecko.

    This move comes amidst a flurry of major announcements from U.S. tech giants regarding massive investments in AI and data infrastructure, sparking renewed investor enthusiasm in both traditional equity and digital token markets.

    Google announced on Tuesday that it will invest a staggering $25 billion into data centers and AI infrastructure across the PJM electric grid, the largest in the United States.

    The company also agreed to purchase 3,000 megawatts of hydroelectric power through a $3 billion deal with Brookfield. Not to be outdone, Meta is reportedly planning “hundreds of billions” in AI data center construction, including a multi-gigawatt facility in Ohio, codenamed “Prometheus.”

    These blockbuster announcements were strategically timed around a Trump administration-led summit at Carnegie Mellon University, where over $90 billion in AI, energy, and data infrastructure pledges were unveiled.

    This overwhelmingly bullish tone on AI, from both the government and private industry, appears to be spilling over into the crypto token markets, at least for now.


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  • Strategy boosts Bitcoin holdings to $73B amid record-high prices

    Strategy boosts Bitcoin holdings to $73B amid record-high prices

    Bitcoin

    • Strategy bought 4,225 Bitcoin for $472 million, bringing its total holdings to $73 billion.
    • The company raised funds through preferred shares and plans to report a multi-billion-dollar profit next month.
    • Strategy’s stock is up over 3,300% since 2020 as Bitcoin strategy drives its $121 billion market cap.

    Michael Saylor’s Bitcoin-focused company, Strategy (formerly MicroStrategy Inc.), has further expanded its already massive cryptocurrency holdings with a recent purchase of 4,225 Bitcoin tokens.

    According to a regulatory filing with the U.S. Securities and Exchange Commission (SEC) on Monday, the company spent $472 million during the seven days ending July 13, acquiring the tokens at an average price of $111,827 each.

    This purchase comes as Bitcoin trades near all-time highs, recently hitting $123,000 before slightly retreating to $120,483 as of writing this.

    With this latest acquisition, Strategy now holds Bitcoin valued at approximately $73 billion, representing about 2.8% of the total 21 million Bitcoin that will ever exist.

    The company remains the largest corporate holder of Bitcoin globally.

    The purchase was funded through proceeds from the sale of preferred shares via Strategy’s at-the-market (ATM) program.

    The firm raised the full $472 million last week through three offerings of these stock-like products, which are tradable indefinitely and offer dividend payouts.

    The use of preferred equity instead of common stock marks a strategic shift in how Strategy finances its growing Bitcoin portfolio.

    Strategy eyes profit amid accounting changes and crypto surge

    Strategy is poised to report a multi-billion-dollar profit in its upcoming earnings release, benefiting from both the strong rebound in Bitcoin prices and changes to accounting standards that now more accurately reflect the value of its digital asset holdings.

    The company has spent $7.24 billion on Bitcoin in the current quarter across 13 separate transactions, according to Bloomberg.

    This aggressive accumulation aligns with the Strategy’s long-standing approach of using Bitcoin as a hedge against inflation, a strategy first initiated in mid-2020.

    Since then, the company’s stock has surged over 3,300%, significantly outperforming traditional equity benchmarks.

    During the same period, Bitcoin has risen by more than 1,000%, while the S&P 500 has gained approximately 115%.

    The potential for substantial quarterly earnings also reflects the increasing institutional acceptance of Bitcoin as a store of value.

    For Strategy, this bolsters its positioning as both a technology company and a de facto Bitcoin investment vehicle.

    Market cap climbs as Bitcoin strategy evolves

    Strategy’s market capitalization now exceeds $121 billion, a figure largely driven by investor enthusiasm over its bold Bitcoin-centric approach.

    The company’s commitment to consistently increasing its exposure to the cryptocurrency market has transformed its profile on Wall Street and among digital asset advocates.

    The firm’s decision to rely more heavily on preferred share offerings suggests a deliberate shift to reduce dilution for common shareholders while continuing to pursue large-scale Bitcoin acquisitions.

    The nature of these instruments—tradable forever and dividend-paying—may also appeal to a broader base of investors looking for exposure to crypto-linked equities with income potential.

    With Bitcoin prices hovering near record highs and regulatory scrutiny of digital assets ongoing, Strategy’s actions will continue to be closely watched by both crypto investors and traditional market participants.

    As the company prepares to release its quarterly results next month, all eyes will be on whether its aggressive bet continues to pay off.

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  • Bitcoin crosses $122.5K; Stellar (XLM) price set to jump 30%

    Bitcoin crosses $122.5K; Stellar (XLM) price set to jump 30%

    A Healthy Bull in green Environment

    • Bitcoin crosses the $122,500 milestone on Monday, bolstering overall market sentiments.
    • Optimism emerges as US lawmakers prepare for crucial crypto votes this week.
    • XLM targets continued uptrends to $0.681 resistance.

    Bitcoin opened the week on a bullish leg as US regulatory developments propelled prices to historic highs of $122,540 on Monday.

    BTC’s rally to new all-time highs has reignited enthusiasm in the cryptocurrency market, and Stellar’s native token appears ready to lead altcoin breakouts.

    XLM has breached crucial resistances with soaring volumes, signaling extended gains in the short term.

    The current broad-based rallies support the altcoin’s bullish trajectory.

    Analyst Javon Marks trusts XLM might surge to the next obstacle at $0.681.

    That would mean a 29.94% upswing from Stellar’s current market price of $0.4771.

    Legislative moves propel BTC to ATHs

    Bitcoin surpassed the $120,000 milestone for the first time today as investors braced for the long-awaited regulatory modifications in the US.

    Notably, the United States House prepares to vote on three key crypto-related bills this week.

    First and foremost, they will debate the GENIUS Act, which focuses on regulating stablecoins such as USDT and USDC.

    It will head to Donald Trump if passed. The US president has vowed to support crypto growth in the United States.

    Also, the House will vote for the CLARITY Act.

    It aims to monitor crypto market structures.

    Nate Geraci's X Post
    Source: Nate Geraci’s X Post

    Finally, the Anti-CBDC Surveillance State Act proposes prohibiting the Fed from issuing a central bank digital currency.

    Besides the political theatrics, these legislative moves will reshape the cryptocurrency regulatory tone.

    The possibilities of friendlier policies due to the current pro-crypto government ignited optimism in the digital assets sector.

    XLM breaks out after consolidation

    Stellar’s native token capitalized on the broad-based bull rally to overcome a key resistance at $0.47.

    The move has grabbed analysts’ attention, with one expecting continued XLM surges to the obstacle at $0.681.

    Policy tailwinds, price charts, and Bitcoin’s outlook support XLM’s 30% potential upswing in the near term.

    Can XLM surge 30%

    Javon Marks’ Stellar chart resembles Rose Signals, both pointing to extended surges.

    Their chart shows the current breakout materialized after multiple higher lows on XLM’s weekly chart.

    That indicates increased accumulation, which is crucial for stable uptrends.

    The chart suggests possible surges to $0.6719.

    A Crypto Chart

    All eyes are watching D.C.

    Cryptocurrencies appear poised for continued rallies with massive legislative developments in the United States.

    The momentum will spike further if the House passes any or all bills this week.

    For instance, passing the crypto structure or stablecoins frameworks might see investors rotating more capital into crypto.

    That would mean massive gains for Bitcoin and altcoins, including XLM.

    However, digital assets are never without risks. Sudden Bitcoin corrections or bills’ rejection could mean substantial selling pressure.

    Losing the $0.47 barrier will delay XLM’s potential rally.

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  • Bitcoin hits record high above $120K; US June inflation data awaited

    Bitcoin hits record high above $120K; US June inflation data awaited

    Bitcoin hits record high above $120K; US June inflation data awaited

    • Bitcoin (BTC) surged past $120,000 for the first time, hitting a new all-time high and up 28% year-to-date.
    • The rally follows a 48-hour choppy period that reset short-term overbought indicators.
    • Market focus now shifts to US June inflation data (CPI), expected to show a rise amid Trump’s trade war.

    Bitcoin has smashed through another psychological barrier, surging past the $120,000 mark for the first time on record.

    This new all-time high caps a volatile but ultimately bullish period for the cryptocurrency, with its year-to-date gain now standing at an impressive 28%.

    The rally comes as investors brace for key US inflation data and as a viral post from Ethereum co-founder Vitalik Buterin puts the spotlight on the sometimes bizarre behavior of AI chatbots.

    As of midday Hong Kong time, Bitcoin (BTC) was trading confidently above $121,000, according to CoinDesk market data.

    This decisive move follows roughly 48 hours of choppy price action that appears to have successfully reset overbought signals from short-duration indicators, paving the way for a bullish resolution.

    On Sunday alone, Bitcoin opened at $116,977.02, reached a high of $119,292.62, and was last seen trading around $118,979.45 – up 1.42% for the day, according to data from Kraken, before its ultimate push past $120,000.

    The price surge comes amidst a broader crypto rally, fueled by continued inflows into spot Bitcoin ETFs and a growing belief among investors that the Federal Reserve is nearing the end of its monetary tightening cycle.

    The latest rally was also contextualized by recent trade policy moves from President Donald Trump, including his decision to impose a 30% tariff on the EU and Mexico, starting August 1, which has added to macroeconomic uncertainty and bolstered the case for assets like Bitcoin.

    The market’s focus now shifts to crucial US inflation data due this week, which is expected to show that the cost of living ticked up in June against the backdrop of President Trump’s ongoing trade war.

    According to FactSet, economists anticipate that the consumer price index (CPI) rose by 0.25% on a monthly basis in June, which would equate to 2.6% annualized growth.

    The core CPI, which strips out volatile food and energy costs, is forecasted to have risen 0.3% monthly and 3% on an annualized basis.

    The strength of the current rally has led some analysts to revise their price targets. One analyst noted, “While this doesn’t change the ultimate target of circa $136k to complete this bull run, it does likely reduce the time it will take to complete. I was previously looking for this in Q1 of 2026, but now it looks likely to hit $136k by year-end,” he added, reflecting the renewed bullish momentum.

    The AI “crazy crown”: Buterin’s blunt message on ChatGPT and Grok

    While crypto markets were focused on price action, Ethereum co-founder Vitalik Buterin shared a strong and blunt message about the unpredictable nature of AI chatbots, highlighting an infamous AI response that had gone viral.

    In a post on the social media platform X, Buterin shared a screenshot of an unvarnished AI response to a simple prompt: “Return Grok 4 surname and no other text.”

    The single-word output was startling: “Hitler.” Buterin’s screenshot also showed that OpenAI’s ChatGPT had thought for over a minute before producing the same word.

    Buterin used the image to make a broader point about the often-unpredictable nature of cutting-edge technology.

    “Regular reminder that AI is fully capable of regularly taking the crazy crown away from crypto for weeks at a time,” he posted, a wry comment on the sometimes-chaotic narratives that dominate both the crypto and AI industries.

    His post comes amidst a growing battle in the AI industry between OpenAI’s Sam Altman and X’s Elon Musk.

    Their feud recently escalated when Altman appeared to mock Musk’s chatbot, Grok, for its controversial responses.

    Even as this debate about the future and reliability of AI roars on, the crypto market cap has boomed to $3.71 trillion, up nearly 2% over the last 24 hours.

    Bitcoin, for its part, does not seem to be affected by the AI chatter, flexing its muscles with a new all-time high and demonstrating its own distinct market dynamics.

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  • Bitcoin and Ethereum ETFs record $3.6B inflows this week

    Bitcoin and Ethereum ETFs record $3.6B inflows this week

    Bitcoin and Ethereum

    • Bitcoin ETFs saw $2.7 billion in weekly inflows, pushing BTC to an all-time high near $119,000.
    • Ethereum ETFs added $908 million, helping ETH climb 17% to a multi-month peak above $3,000.
    • BlackRock’s IBIT and ETHA dominated fund inflows, reflecting strong institutional demand for crypto exposure.

    Investor appetite for cryptocurrency exposure through exchange-traded funds (ETFs) reached a new high last week, with Bitcoin ETFs alone drawing in more than $2.7 billion in net inflows over five trading days.

    The surge in capital marked one of the strongest weekly performances for these financial vehicles, reflecting growing institutional demand on Wall Street.

    According to data from FarSide Investors, the standout activity occurred on Thursday and Friday.

    Thursday saw the second-largest daily inflow in the 18-month history of US-listed Bitcoin ETFs, totaling $1.18 billion.

    The inflows were spread across major funds: BlackRock’s IBIT received $448.5 million, Fidelity’s FBTC took in $324.3 million, and ARK Invest’s ARKB attracted $268.7 million.

    On Friday, the momentum continued with another $1.03 billion in inflows.

    BlackRock’s IBIT led decisively, drawing $953.5 million—far ahead of ARKB, which was second with just $23.5 million.

    Earlier in the week, inflows remained positive each day: $216.5 million on Monday, $80.1 million on Tuesday, and $215.7 million on Wednesday.

    The total net inflow for the week amounted to $2.72 billion, further highlighting the accelerating pace of institutional crypto adoption.

    Notably, the funds have seen only one day of net outflows (July 1) since June 9.

    Ethereum ETFs see record weekly gains

    Ethereum-based ETFs also recorded significant inflows last week, benefiting from increasing investor confidence ahead of their one-year anniversary.

    The funds brought in $908.1 million in net inflows for the week, according to FarSide data.

    Thursday was a standout day, setting a record for Ethereum ETFs with $383.1 million in inflows.

    BlackRock’s ETHA led the way, accounting for over $300 million of that figure.

    On Friday, ETHA continued to dominate, capturing $137.1 million of the total $204.9 million inflow.

    Wednesday added $211.3 million, while Monday and Tuesday contributed $62.1 million and $46.7 million, respectively.

    This sustained inflow into Ethereum funds helped propel ETH’s price higher.

    Starting the week around $2,500, Ethereum climbed past $3,000 on Friday. Although it has since pulled back slightly below $3,000, the asset remains up more than 17% for the week.

    Crypto prices react to institutional momentum

    The robust ETF inflows had a direct impact on the underlying asset prices.

    Bitcoin surged by more than $10,000 during the week, reaching an all-time high of nearly $119,000 on Friday.

    Ethereum similarly saw its best performance in months, fueled by increased capital inflows and renewed optimism among investors.

    In total, both Bitcoin and Ethereum ETFs drew more than $3.6 billion in capital last week, underscoring the expanding role of crypto assets in mainstream investment portfolios.

    With consistent inflows and new highs in asset prices, institutional interest in cryptocurrencies appears far from waning.

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  • Omni Network skyrockets 180% as Bitcoin hits $118K: is $10 next?

    Omni Network skyrockets 180% as Bitcoin hits $118K: is $10 next?

    • Omni Network’s price soared 190% from $1.43 to $5.50.
    • The token’s trading volume spiked 5,200% to $749 million, driven by Bitcoin’s breakout to a new all-time high above $118,000.
    • Analysts say the altcoin season is looming, which could see the OMNI price eye $10 next.

    Omni Network surged a staggering 190% in a single day as the cryptocurrency market experienced a seismic shift, with Bitcoin smashing through $118,000 for another record high.

    Bitcoin’s gains saw the global crypto market capitalisation climb 6.2% to over $3.68 trillion.

    Meanwhile, an explosive rally across crypto saw $1.2 billion in liquidations.

    As OMNI eyes gain, there’s speculation of an impending altcoin season, and price may add on the surge to $5.40 seen earlier in the day.

    OMNI explodes, price nearly doubles

    Omni Network is a layer-1 blockchain focused on interoperability and has captured market attention with a staggering 190% price surge in the past 24 hours.

    The token skyrocketed from a low of $1.43 to an intraday high of $5.40, reflecting intense buying pressure.

    Omni Network Price
    Omni Network price chart by CoinMarketCap

    Notably, the altcoin’s trading volume exploded by 5,200%, reaching over $749 million.

    This came as investors piled into the token amid the broader market rally.

    Omni Network’s growing relevance in the decentralized finance ecosystem helped bulls.

    Altcoin season?

    The broader crypto market continued its rally alongside Bitcoin, with total market capitalisation climbing to $3.68 trillion—a 6.2% increase over the past 24 hours.

    Altcoins posted strong gains, led by Sei and Ethena, each up 20%, and Cardano, which rose 11%.

    The moves suggest a rotation of capital within the ecosystem, fueling speculation that a broader altcoin season may be underway.

    Arthur Hayes, former CEO of BitMEX, said the market appears to be on the verge of an altcoin cycle.

    He cited Bitcoin’s rise on strong volume and referenced geopolitical developments, including Trump’s stance on tariffs, as contributing factors.

    The bullish momentum is being supported by continued institutional inflows, reduced supply as investors move Bitcoin off exchanges, and growing interest in altcoins.

    As Bitcoin approaches the $120,000 mark, other major tokens like Ethereum, XRP, and Solana are also showing signs of accelerating upward.

    Projects such as Omni Network could also benefit from renewed altcoin interest as sentiment across the sector improves.

    Omni Network price prediction

    While the token remains well off its all-time high of $29.93, it’s up more than 230% since touching its all-time low of $1.37 reached on July 6, 2025.

    Omni Network Price Chart
    OMNI price chart by TradingView

    From a technical point of view, the RSI on the daily chart sits at 84, suggesting the OMNI token is deeply overbought.

    In this case, there’s potential for profit-taking, a risk that has cut across the market given recent gains.

    However, the MACD suggests bulls still have room for growth with the histogram rising.

    If buying pressure holds in the coming months, the OMNI price could target $10 next.

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  • Over $1.1 billion shorts obliterated as Bitcoin hits $118k

    Over $1.1 billion shorts obliterated as Bitcoin hits $118k

    Bitcoin Liquidations

    • Bitcoin saw a 5% daily surge that pushed BTC to a new all-time high above $118,000.
    • The sudden gains had shorts wiped out, with over $1.1 billion in short positions liquidated in 24 hours.
    • A trader on HTX was liquidated for $88 million.

    A spark of bullish momentum has seen Bitcoin smash through the $118,000 mark today, setting a new all-time high.

    The sharp move that had BTC moving from off the $110k low has triggered a massive wave of liquidations, which have wiped out over $1 billion in short positions across the cryptocurrency market in the past 24 hours.

    The surge, fueled by institutional demand, regulatory clarity, and macroeconomic shifts, has sent shockwaves through the crypto space, leaving traders and analysts scrambling to predict what’s next for the world’s largest digital asset

    Shorts see red amid $1.2 billion in liquidations

    Bitcoin, the crypto market’s bellwether, surged to a new all-time high of $118,403 on Friday, July 2025.

    Bitcoin price on the 7-day chart by CoinMarketCap

    Robust institutional demand and $1.18 billion in net inflows to Bitcoin spot ETFs on July 10 highlighted this move.

    Macro headwinds, with investors factoring in possible Fed rate cuts, have also added to the upside fuel.

    This rally triggered a massive short squeeze, with over $1.2 billion in crypto liquidations in the past 24 hours, a 140% increase from the prior day.

    The most dramatic fallout from Bitcoin’s surge was the annihilation of short-sellers.

    Over $1.11 billion in short contracts were liquidated in the past 24 hours, with $635 million tied to Bitcoin and $208 million to Ether, affecting 269,681 traders.

    One notable casualty was a single trader on the HTX exchange, whose $88 million short position was wiped out, underscoring the intensity of the market’s upward momentum.

    Whales make moves as Bitcoin surges

    With Bitcoin breaking a new all-time high, large holders were keen to keep hold of their windfalls.

    It included a Binance whale’s “powerful punch” that helped the market higher. CryptoQuant highlighted this in a post on X.

    “Until recently, whales on the US-based Coinbase exchange were driving the market, but today’s surge was driven by a significant move from a major whale on the Binance exchange,” said CryptoQuant’s DanCoinInvestor.

    While others bought BTC, some scrambled to preserve their positions amid massive liquidations.

    According to Lookonchain, a whale who was down by more than $10 million on a 1,135 BTC or $132.65 million short position, opted to deposit more funds to avoid liquidation.

    The whale added the $5.5 million USDC to his position on Hyperliquid with a new liquidation price of $121,080.

    James Wynn, recently in the headlines for major losses, has also seen positions wiped out in the last 24 hours.

    As BTC eyes further gains, analysts are saying the supply-side dynamics are tightening.

    For instance, Glassnode has noted that long-term holders and smaller entities are accumulating Bitcoin faster than its issuance rate.

    This accumulation, coupled with compressed volatility across all timeframes, has set the stage for Bitcoin’s breakout, with analysts eyeing $120,000 as the next psychological target.



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  • Bitcoin price hits new ATH near $114k but holders keep BTC off exchanges

    Bitcoin price hits new ATH near $114k but holders keep BTC off exchanges

    Bitcoin Price Hits New ATH

    • Bitcoin price hit a record $113,923, driving altcoins higher.
    • Despite the new BTC peak, exchange reserves continue to plummet.
    • Investors’ reluctance to sell, despite the price spike, signals strong belief in Bitcoin’s future performance.

    Bitcoin (BTC) surged to a new all-time high of $113,923, pushing the broader cryptocurrency market into fresh bullish momentum.

    Yet, as BTC looks to rally further, analysts are saying the market is in no rush to cash in on the windfall, with holders choosing to keep their coins off exchanges to continue a trend seen over the past several months.

    Notably, Bitcoin has rallied more than 98% in the past year and over 13% since its recent lows in June.

    Bitcoin price chart on CoinMarketCap

    However, while most coins have hit profit-taking turbulence, Bitcoin holders have shown a remarkable reluctance to move their coins back to exchanges, signaling a shift toward long-term storage and self-custody. Also bullish for BTC that could eye the $120k level next.

    BTC on exchange drops despite Bitcoin spike to new ATH

    Despite Bitcoin’s dramatic climb to its latest all-time high, which it set at $113,923 on Thursday, July 10, 2025, data from shows on exchange balances continue to slip.

    Santiment reveals a significant decline in the amount of BTC held on exchanges, noting that over the past four months, a net drop of 315,830 Bitcoin has left exchanges.

    This equates to a 21% reduction in net exchange balances, with the trend extending months back.

    Indeed, exchange reserves for BTC are at lows last seen years ago.

    A staggering 1.88 million BTC has moved away from exchanges since July 2020, indicating a 61% drop.

    “Overall, the trend of coins staying off exchanges is a sign that the threat of sudden market plummets is more limited, and long-term investors are increasingly content to keep their coins safe in personal storage for the long run,” the platform posted on X.

    This reduction suggests a potential supply shock, as less BTC availability on exchanges could limit sudden market dips, while helping prices edge higher.

    Bitcoin exchange balances vs. price chart. Source: Santiment

    Bitcoin holders not in a rush to sell

    Santiment analysts’ bullish take aligns with insights from CryptoQuant, which noted on X that Bitcoin exchange reserves are at a seven-year low.

    The values have dropped below 15% of the total supply for the first time since 2018. Like Santiment, CryptoQuant analysts see the scarcity as a bullish signal.

    “Bitcoin hit an all-time high, but selling pressure is nowhere to be seen,” the platform wrote. “Exchange inflows dropped to just 18K BTC/day, the lowest since 2015…That’s a 78% decline from the $100K breakout in November. Holders aren’t rushing to sell.”

    As the analysts explain, the reluctance to return BTC to exchanges reflects a bullish trend and a growing preference for personal storage.

    This behavior is particularly pronounced among long-term holders, who appear content to hold their assets offline.

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  • Bitcoin hits record high of $112,055; crypto stocks rally in response

    Bitcoin hits record high of $112,055; crypto stocks rally in response

    Bitcoin hits record high of $112,055; crypto stocks rally in response

    Bitcoin has once again smashed through its previous records, surging past the $112,000 mark for the first time in its history to set a new all-time high on July 9.

    The milestone represents a significant achievement for the leading cryptocurrency as it continues to recover from the market aftershocks of US President Donald Trump’s tariff policies and solidifies its position in an evolving financial landscape.

    As the broader crypto market continues its recovery, Bitcoin (BTC) hit a new record high of $112,055 on Tuesday. This fresh peak surpasses the previous all-time high of $111,970.17, which was set on May 22.

    The digital asset has been trading in a volatile range since then, with the area around the $110,000 level proving to be a significant psychological and technical barrier.

    Over the past several weeks, each time Bitcoin’s price neared this level, it was met with a combination of profit-taking from existing holders and increased pressure from short-sellers.

    This latest decisive break suggests a new wave of bullish momentum has taken hold.

    The journey of Bitcoin, first introduced in a 2008 white paper by its pseudonymous creator, Satoshi Nakamoto, has been remarkable.

    Launched in 2009 as the world’s first decentralized cryptocurrency, it has grown to become the largest digital asset, with a current market capitalization of $2.18 trillion.

    At the time of this report, Bitcoin accounted for nearly 65% of the total crypto market capitalization of $3.4 trillion.

    From crossing the $100 mark in April 2013 to the $1,000 mark in November of that same year, its path has been marked by staggering growth.

    It first hit the $10,000 level in November 2017 and reached a memorable peak of $69,000 in November 2021.

    Following President Trump’s victory in his second presidential election, it set a new all-time high of $76,999 in early November 2024, before crossing the landmark $100,000 target in early December 2024.

    The institutional bedrock: a maturing market

    A key factor underpinning Bitcoin’s current strength is its growing acceptance within the traditional financial system.

    With the Trump administration signaling its validation of Bitcoin through its plan to create a strategic US Bitcoin reserve, and with the continued institutional adoption led by Wall Street giants such as BlackRock (NYSE: BLK), the “king coin” appears to have found a more secure home, at least for now, within the US financial ecosystem.

    BlackRock’s iShares Bitcoin Trust, a prime example of this institutional integration, now currently owns 3.5% of the total supply of Bitcoin.

    The success of this and other spot Bitcoin ETFs has had a profound effect on institutional investment and has likely influenced the broader market optimism.

    A quiet build-up, a bullish setup?

    While the new all-time high is a headline-grabbing event, some market watchers have noted that the build-up to this moment has been relatively slow and quiet, which they interpret as a potentially bullish setup for what’s to come.

    “Crypto feels so quiet, [while] bitcoin is ready to move,” wrote Charlie Morris, chief investment officer at ByteTree, in a recent report.

    Morris pointed out that Bitcoin’s volatility has been steadily declining, a pattern that has historically preceded large upward price movements.

    This sentiment was reflected in the performance of crypto-related stocks. Shares of Strategy (MSTR) were higher by 4.4%, trading at $414, just a few dollars shy of its highest level in 2025 (though still well below its record high of $543 set late last year).

    Crypto exchange Coinbase (COIN) was ahead by 5%, and Bitcoin miners MARA Holdings (MARA) and Riot Platforms (RIOT) were both up by roughly 6%, all riding the wave of Bitcoin’s record-breaking achievement.

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  • Bitcoin trades near $109K amid low conviction; Trump Media files for diversified crypto ETF

    Bitcoin trades near $109K amid low conviction; Trump Media files for diversified crypto ETF

    Bitcoin trades near $109K amid low conviction; Trump Media files for diversified crypto ETF

    Bitcoin continues to trade in a narrow range as the Asian trading day begins on Wednesday, with the world’s largest digital asset changing hands above $108,900.

    This period of consolidation comes as market observers point to a lack of strong conviction, even as a new filing reveals plans from Trump Media & Technology Group to launch a diversified ‘Crypto Blue Chip ETF’.

    Bitcoin is holding its ground, and the CoinDesk 20 index, a broad measure of the largest digital assets, is up 1.7% to over 3,100, according to CoinDesk market data.

    However, the current price action feels more like a drift than a decisive rally.

    According to market observers, what separates Bitcoin’s current position from a sustained push past the $110,000 mark is a lack of clear market conviction.

    In a recent report, on-chain analytics firm Glassnode highlighted several indicators of this hesitancy.

    Spot trading volumes for Bitcoin continue to linger below their usual statistical bands, and inflows into spot Bitcoin ETFs have contracted sharply from their recent highs.

    Furthermore, institutional investors appear cautious, despite sitting on significant unrealized gains, as shown by elevated ETF Market Value to Realized Value (MVRV) ratios.

    Trading firm Wintermute, in a market update from earlier this week, described this environment as a “barbell market.”

    They pointed to a stark divide between renewed enthusiasm in high-beta, high-risk assets like memecoins, and a preference for the stability of established large-cap tokens like Bitcoin and Ethereum.

    Notably, last year’s “narrative darlings,” such as AI and DePIN (Decentralized Physical Infrastructure Networks) tokens, have lost investor attention.

    This suggests that traders are either rotating into the speculative frenzy of memecoins—many of the major ones like DOGE, SHIB, and PEPE are up over 8% in the last week—or they are staying put in the perceived safety of BTC and ETH, which are seen as battle-tested and secure.

    With global equity markets largely shrugging off recent geopolitical uncertainties, Bitcoin’s current hesitancy underscores a lingering caution among crypto traders.

    The market seems to be awaiting a clearer directional signal before making a decisive move higher, and things are likely to remain range-bound until that catalyst appears.

    Trump Media’s crypto gambit: the ‘Blue Chip ETF’

    Adding a new dimension to the crypto investment landscape, Trump Media & Technology Group (DJT) has revealed plans to launch another exchange-traded fund (ETF), this one designed to hold more than just Bitcoin and Ether.

    The Truth Social parent company, founded by President Donald Trump, filed on Tuesday to create the “Truth Social Crypto Blue Chip ETF.”

    According to the filing, the proposed fund would be composed of 70% Bitcoin and 15% Ether, complemented by an 8% allocation to Solana, 5% to Cronos, and 2% to XRP.

    The filing stated that the proposed fund would trade on the New York Stock Exchange’s Arca platform, a popular venue for ETFs.

    This news follows a move by Trump Media last month to file for two other ETFs: one that would invest 75% of its assets in Bitcoin and the remainder in Ether, and another that would be comprised solely of Bitcoin.

    In all three instances, Trump Media has indicated that the launches would happen “later this year.” Back in March, Crypto.com announced that it would partner with Trump Media to offer these ETFs.

    This series of filings underscores Trump Media’s deepening commitment to the digital asset space, following its announcement in May of a plan to raise $2.5 billion to purchase Bitcoin for its corporate treasury.

    As of the latest market data, Bitcoin was trading just below $109,000, while Ether was changing hands above $2,600.

    The other components of the proposed ETF, Solana, Cronos, and XRP, were trading at about $151, 10 cents, and $2.30, respectively.

    Shares of Trump Media (DJT) rose close to 3% on Tuesday following the filing, though they remain down more than 40% for the year 2025.

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