Bitcoin's recent breakout above $80,000 triggered significant profit-taking from both short-term and long-term holders, especially those who accumulated before the ETF launch, locking in gains of 60%-100%. Despite this selling pressure, Bitcoin's price remained stable around $78,500, supported by strong ETF inflows totaling $1.16 billion in May and nearly $2 billion in April, which absorb the selling pressure. The market shows a balanced battle between bulls and bears around the $78k-$81k zone, but the overall structure remains bullish as demand continues to absorb supply, encouraging holders to keep their positions. This setup suggests a potential upward move toward the $87,000–$92,000 range as profit-taking fuels further buying interest rather than panic selling.
Cryptocurrency markets saw a general decline with major coins like Bitcoin and Ethereum dropping by about 1.2% and 1.1% respectively. Bitcoin traded near $61,883 while Ethereum hovered around $1,748. Other altcoins also experienced losses, reflecting...
U.S. spot Bitcoin ETFs experienced $526.64 million in net outflows from June 29 to July 2, marking eight straight weeks of withdrawals as institutional investors reduce exposure amid market uncertainty. Despite this, Bitcoin remains above the $60K su...
Bitmine Immersion increased its Ethereum holdings by 42,197 ETH, worth about $74 million, raising its total to 5.74 million ETH or 4.8% of the circulating supply. Chairman Tom Lee credits this buying spree to rising investor optimism that the propose...
XRP's Binance Scarcity Index reached its highest level since 2024 as whales moved coins to non-custodial wallets, tightening supply and supporting price near $1.14. A BitGo whale transferred 114.9 billion Shiba Inu (SHIB) tokens to a new cold wallet,...
Cryptocurrency prices showed a general downward trend, with Bitcoin trading near $61,955, down 1.12%, and Ethereum at $1,747.46, down 0.88%. Other major coins like Binance Coin and Cardano also saw declines, while a few tokens experienced minor gains...
