As Asia opens Wednesday’s trading day, Bitcoin
Change hands over $ 105.5K, a slight correction from $ 107k, where it sat during the US work day.
Despite the geopolitical upheaval of the past few weeks – with the US strike on Iran, an event that surprised both geopolitical scholars and the polyming field – BTC has proven to be a resistant value. Coindesk -Market Data shows that the asset class has been pretty stable over the past month, a 1%increase.
But this return to a price point that looks centimeters away from BTC’s highest height of $ 111K, as it hit in May, feels more disciplined than euphoric, according to market observers.
Unlike the December 2024 breakout over $ 100K, which triggered a wave of profit-take, long-term investors now see content to sit on their winnings, as Glassnode wrote in their weekly note.
“Hodling seems to be the dominant market mechanic,” Glassnode Analysts wrote, referring to an increase in the long-term holder supply to 14.7 million BTC and historically low-realized profits. On-chain activity indicates a limited desire to sell even when BTC acts just below record levels.
Metrics as the adjusted output profit ratio (asopr) Also reflect this restraint that hovers just above the Breakeven, according to Glassnode. This suggests that the coins used are recent acquisitions. Think: Tactical trades rather than broad distribution.
Meanwhile, Glassnode data shows that the vivity metration continues to fall, which strengthens that older coins remain dormant.
This patience is met with sustained institutional demand, as QCP wrote in its daily market update.
Market data shows that $ 2.2 billion in net flow to BTC -spot -TFs occurred last week when QCP described the tone as “constructive” and noted that players such as strategy and the metaplan continue to accumulate.
These stable influxes quietly reshape the market structure. Bitcoin’s Realized Cap, a measure of the price that coins last moved, has grown to $ 955 billion, which is probably a sign that real capital, not just speculation, moves into the asset.
Still, not everything is calm below the surface. QCP notes that the geared long positions have risen, with financing rates that turn positive across the most important eternal futures markets.
Glassnode warns that “the market may need to move higher or lower to unlock additional supply,” which suggests that this equilibrium between prolonged conviction and short -term leverage does not last forever.
When BTC hardly moved after the Senate approved the White House ‘Big Beautiful Bill’, the market feels less like a stamp and more like a standoff between long -term proprietors who refuse to sell and short -term dealers jumping into the gear.
The fragile equilibrium has market observers who wonder where the next catalyst comes from and whether it could make BTC’s next move explosive.
Figma owns $ 70 million. In BTC ETFS: Filing
Design Software Company Figma has revealed a position of $ 70 million in BitWise Bitcoin ETF (Bitb) As part of its IPO.
The filing shows that the board approved an investment of $ 55 million in March 2024, which has since appreciated by 27%.
A separate May resolution Greenlit a purchase of $ 30 million USDC, earmarked for future conversion to BTC, bringing the total planned allocation to $ 100 million.
Recently, Hong Kong-based Food Conglomerate DDC Enterprise announced a $ 528 million increase this week, earmarked to buy 5,000 BTC over three years.
Defi Development Corp. To raise $ 100 million
Defi Development Corp., the first publicly traded US company with a Treasury strategy built around Solana
Announced in a press release on Tuesday that it plans to raise $ 100 million through a private offer of convertible senior notes that are due to 2030.
The offer made in accordance with Rule 144A to qualified institutional buyers includes an opportunity for preliminary buyers to acquire up to an additional $ 25 million in notes within 13 days of issuing.
Market Movement:
BTC: Bitcoin holds about $ 106K, with data on the chain from Glassnode showing long -term owners virtually not moving.
ETH: Ethereum faced heavy sales after not breaking a $ 2,522 resistance and completing a fleeting 24-hour session marked with a 4.5% trading area.
Gold: Gold rose over 1% Tuesday, driven by a weaker dollar and global trade uncertainty, with spot prices hitting $ 3,357.85 and futures climbing $ 3,353.80.
S&P 500: US stocks were mixed on Tuesday when investors rotated out of Tech, with the S&P 500 sliding 0.11% to close on 6,198.01.
Elsewhere in crypto:
- Binance to keep hundreds of employees in Singapore in spite of crash (Bloomberg)
- New ATTORNEY GENERAL LETITIA JAMES WARNS STABLECOIN CLAIMS PUT AMERICES (The block)
- High on DOGE? Cannabis Company gets Dogecoin Treasury to play (Decryptter)
