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Based on reports from analyst Moustache, Bitcoin may be gearing up for its next big move. The world’s largest cryptocurrency climbed above $105,000 for the second time this week. At press time, it was trading at nearly $104,000, up 0.50% over the past 24 hours. Related Reading: Bitcoin Nears Climax, But A Twist Awaits—Analyst Reveals Key Insight Historical RSI Breakouts Could Signal New Push According to the charts shared by Moustache, Bitcoin’s monthly Relative Strength Index (RSI) tends to surge into overbought territory just before major rallies. Back in July 2013, Bitcoin sat at $66, then jumped to nearly $1,120 by November as the RSI hit high levels. A similar spike happened in May 2017, when BTC rose from about $1,300 to $19,700 by December. On April 1, 2021, Bitcoin reached $64,800 while the RSI again climbed beyond its usual range. In 2024, those RSI peaks came on March 1 at $73,800 and again in November when it cleared $100,000. #Bitcoin$BTC monthly RSI is so close to entering overbought territory. The real run starts with this. Look at the past and you know why. pic.twitter.com/8O1Z8RDuNs — ????????????????????????????ⓗ???? ???? (@el_crypto_prof) June 19, 2025 Whales Stack Up Bitcoin While Retail Pulls Back Based on reports from on‑chain data provider Santiment, large holders are scooping up coins even as smaller investors step aside. Over the last 10 days, wallets with at least 10 BTC rose by 231 addresses. At the same time, retail wallets holding between 0.001 and 10 BTC fell by 37,460 addresses. That shift suggests big players are using recent dips as a buying chance. In past cycles, similar moves by whales have come before sustained price gains. ???? Bitcoin’s elite vs. mortal wallets are moving in two different directions as its market value sits just north of $104.3K. ???? Wallets with 10+ $BTC: +231 Wallets in 10 Days (+0.15%) ???? Wallets with 0.001 to 10 $BTC: -37,465 Wallets in 10 Days (+0.15%) When large wallets… pic.twitter.com/uhZf6rPYvq — Santiment (@santimentfeed) June 19, 2025 Overbought But Not Out Analysts warn that an overbought RSI doesn’t always mean an instant surge. In past runs, Bitcoin often paused or pulled back for days or even weeks before the real rally got underway. Sometimes the RSI stayed elevated while prices drifted sideways. In 2017, for example, a correction followed the high RSI but the broader uptrend kept going. Today’s RSI is near those same levels—and could linger there for a while. Related Reading: Dogecoin Breaks Free—Could Soar 60%, Analyst Says What Comes Next For Bitcoin Investors will be looking beyond technical cues. Macro events, ETF moves and regulatory announcements may guide the next direction. If institutions continue to accumulate and retail continues to avoid, price pressure will develop. But a surprise headline or policy change might go the other direction. For now, the intersection of high RSI and increasing whale demand suggests a setup that has fueled previous bull frenzies. Featured image from Unsplash, chart from TradingView

Bitcoin has resumed a slow climb upward after a recent period of consolidation, briefly breaking back above the $106,000 mark earlier today. At the time of writing, the cryptocurrency is trading at $105,383, reflecting a 0.8% increase over the past 24 hours. While this upward move has not sparked a major breakout, analysts are paying close attention to on-chain and market structure indicators that suggest a cautiously balanced environment. Related Reading: Analyst Warns Of Bitcoin Breakdown—’If This Continues, It Snaps’ On-Chain Data Points to Equilibrium, But Demand Wanes According to CryptoQuant analyst Darkfost, the market currently lacks extreme signals of profit-taking or panic. In a recent analysis, Darkfost explained that realized profits over a seven-day moving average remain below $1 billion. This is in line with figures observed during the market correction in late 2024 and significantly below peaks seen in early 2025. The analyst suggests that the current realized profit levels point to a market that is not under pressure from large-scale investor exits, supporting the ongoing consolidation. In the same report, Darkfost also discussed how a decline in demand may be limiting further upward momentum. By analyzing the ratio of new supply to the supply held inactive for over a year, the study observed that while demand remains positive, it has been weakening since Bitcoin’s local high in May. This suggests that although the market is absorbing existing selling pressure, fresh buying interest is not strong enough to trigger a new rally. As a result, the market appears to be in a state of temporary equilibrium, a phase where both sellers and buyers are relatively inactive. Bitcoin Traders Brace for Volatility in a Crowded Range Another CryptoQuant analyst, BorisVest, echoed the sentiment of a tightly contested market by analyzing Binance order flow and position data. He noted that Bitcoin has traded within a range of $100,000 to $110,000 for nearly a month. Within this band, both long and short positions have been building, and traders are watching the extremes of this zone closely. According to BorisVest, any breakout beyond $110,000 or drop below $100,000 could set the tone for the next significant price movement. The $100K–$110K price range has become a battleground for both bulls and bears. BorisVest observed that short positions are currently increasing, indicating that a significant portion of market participants expect a downward correction. Related Reading: Is Bitcoin Gearing Up for a Breakout? On-Chain Signals Say ‘Watch This Level’ However, he also pointed out that when shorts dominate, the risk of a sudden reversal, known as a short squeeze, becomes more likely. This behavior is consistent with recent funding rate trends, which show a fairly balanced distribution of long and short bets. Featured image created with DALL-E, Chart from TradingView

Bitcoin continues to trade below its recent all-time high as selling pressure and macroeconomic developments keep the asset in consolidation. At the time of writing, BTC is priced at $104,835, down 2.1% over the past week and around 6.3% off from its peak of $111,814 recorded last month. Despite the broader trend, on-chain data reveals emerging patterns that may signal what could come next in the market. Following the Federal Reserve’s decision to keep interest rates unchanged in its latest policy meeting, analysts have noted diverging trends in Bitcoin’s price and derivatives market activity. Related Reading: Bitcoin’s Momentum Wobbles—Analyst Predicts Correction Below $94K Derivatives Deleveraging and Liquidation Clusters Shape Price Structure According to Amr Taha, a contributor on CryptoQuant’s QuickTake platform, BTC has been hovering above the $104,000 support zone, where strong demand appears to be absorbing sell pressure. However, Taha pointed out that open interest on Binance has declined, forming lower lows, a sign that the derivatives market is undergoing progressive deleveraging. Taha’s analysis emphasized a technical divergence: while price has remained relatively stable around the $104,000 level, open interest has been falling. This divergence suggests that traders are reducing leveraged positions, possibly due to market uncertainty or as a response to the Fed’s cautious stance. Notably, the $104K region has emerged as a critical liquidity pocket, with data showing long positions being liquidated massively in this area. The dominance of long-side liquidations, with few short liquidations, reflects a flush-out of recent entrants attempting to ride the previous rally. The analyst argued that this deleveraging phase could pave the way for a price rebound if macro conditions remain favorable. Historically, Bitcoin has responded positively to rate pauses, often resuming upward movement when signs of seller exhaustion appear. The stabilization of open interest, combined with reduced liquidations, might act as a foundation for a new upward push in the near term. Bitcoin Whale Activity on Binance and Shifts in Market Behavior In a separate analysis, another CryptoQuant analyst, Oinonen, highlighted growing whale activity on Binance. Since 2023, the whale ratio metric on the exchange has surged dramatically, climbing from 0.08 in mid-2023 to as high as 0.77 in 2025. This shift marks a 400% increase and indicates significant accumulation behavior among large holders. Whale inflows and retention on Binance have generally coincided with longer-term confidence during periods of market volatility. Related Reading: Bitcoin Channel Break Below $105,000 Sparks Panic, Analysts Predict Further Crashes Moreover, the data shows that during recent episodes of elevated volatility, Binance users have leaned toward holding rather than exiting positions. Inflows to the platform have remained low, particularly from both whales and retail participants, suggesting that market participants are refraining from panic selling and instead are anticipating future price appreciation. Featured image created with DALLE, Chart from TradingView

Ethereum has struggled to maintain upward momentum following a brief rally that pushed its price above $2,800 last week. Currently, ETH is trading at $2,511, reflecting a 9.4% decline over the past week. This retreat comes amid a broader period of consolidation across the digital asset market, with Ethereum seeing both technical resistance levels and on-chain trends that could shape its price action in the coming weeks. Related Reading: Ethereum Golden Cross Approaching – Will History Repeat? Ethereum Faces Technical Resistance The latest analysis from İbrahim COŞAR, a contributor to CryptoQuant’s QuickTake platform, highlights the significance of the 50-week exponential moving average (EMA) as a resistance level for ETH. Historically, successful breakouts above this technical marker have been followed by substantial price gains. COŞAR notes that in prior cycles, once ETH crossed above the 50-week EMA, price increases ranged from 25% to 135%. Averaging those moves suggests a breakout could see Ethereum targeting the $4,000 range. The EMA is a trend-following indicator that places more weight on recent price action, often used to identify potential breakout or breakdown zones in asset movements. Staking and Accumulation Metrics Show Investor Conviction In parallel to price action, Ethereum’s staking metrics continue to show steady growth. On-chain analyst OnChainSchool reported that more than 500,000 ETH were staked in the first half of June, bringing the total staked to over 35 million ETH. This milestone represents the highest amount ever locked in Ethereum’s proof-of-stake contract and reflects a growing trend toward network participation and supply reduction. Staking, in ETH’s case, involves locking ETH to help secure the network and validate transactions in return for staking rewards. As the amount of ETH staked rises, the liquid circulating supply shrinks, potentially tightening available supply on exchanges. Additionally, accumulation wallets, or addresses with no history of selling, have also reached an all-time high, now holding 22.8 million ETH. Combined, these metrics point toward long-term holding behavior, rather than speculative trading. Ethereum Hits ATH in Staking: Over 35 Million ETH Locked “Alongside this, Accumulation Addresses (holders with no history of selling) have also reached an all-time high, now holding 22.8 million ETH.” – By @onchainschool Read more ⤵️https://t.co/WYoX9qpODZ pic.twitter.com/6MAlK0sCfJ — CryptoQuant.com (@cryptoquant_com) June 17, 2025 These on-chain developments coincide with ongoing interest in Ethereum-based financial products. The Ethereum ecosystem has seen renewed institutional and retail engagement, particularly after the US Securities and Exchange Commission approved the first spot ETH ETFs. Related Reading: Ethereum Price at Risk of Downside Break as Bears Test Key Support Just recently, SharpLink Gaming, a Nasdaq-listed firm, also a marketing partner to sportsbooks and online casino gaming operators, unveiled a $425M Ethereum reserve strategy led by ConsenSys. Featured image created with DALL-E, Chart from TradingView

As geopolitical tensions in the Middle East continue to impact cryptocurrency prices, with Bitcoin (BTC) recently dipping below the $105,000 mark, market analyst VirtualBacon has shared insights suggesting that altcoins are gearing up for a potentially robust summer.  Emerging AI Memecoins In a recent update on social media platform X (formerly Twitter), he highlighted several promising developments within the altcoin space. VirtualBacon pointed to an emerging wave of AI-focused Layer-1 blockchain projects, many backed by prominent figures in both the cryptocurrency and traditional finance sectors.  He mentioned several names to watch, including Sahara Labs, Sentient AGI, and Gaianet, among others. While these projects have yet to release tokens, many are expected to conduct airdrops or early access rounds, presenting opportunities for early investors. Related Reading: On-Chain Analyst Warns: Bitcoin Peak Expected, Altcoins Facing -95% Plunge For those seeking “higher-risk, high-reward investments,” VirtualBacon noted the impressive performance of artificial intelligence (AI) agent memecoins. He cited the launch of IRIS, which skyrocketed from a $220,000 fully diluted valuation (FDV) to $120 million, representing a 600x return.  Platforms such as Virtuals, CreatorBid, and SeedifyFund are turning user engagement into allocation opportunities, likening this phenomenon to a form of airdrop farming on steroids. In addition, VirtualBacon highlighted a relatively overlooked area: Bittensor subnet tokens. He mentioned that seasoned investors can now acquire early-stage subnets directly on Bittensor’s chain, with projects like SN65_TPN and inference_labs raising capital through token auctions at valuations below $4 million. Stablecoins Take Center Stage Turning to real-world assets (RWAs), VirtualBacon advised focusing on mid-cap infrastructure projects with tangible revenue streams. He pointed to CHEX and CPOOL, which has shown consistent upward movement, as examples of promising investments. Another emerging narrative is the merger and acquisition activity involving public companies and crypto projects. VirtualBacon noted that Tron is set to go public through a Nasdaq reverse merger, while Mixie has been acquired by Netcapital, which boasts a team that includes notable figures like Tim Draper and a co-founder of Helium.  A particularly intriguing development is World Liberty Financial (WLF), co-founded by Eric and Donald Jr. Trump, which aims to become a major player in the decentralized finance (DeFi) space.  With plans for its own stablecoin, USD1, and expected to launch in October, the token could have an estimated FDV of $10–15 billion, a conservative projection given its potential. VirtualBacon also pointed out that stablecoins are becoming central to macroeconomic strategies. Tether now ranks as the fifth-largest holder of US Treasuries, highlighting the increasing need for buyers in the market.  The analyst urged investors to keep an eye on stablecoin projects that integrate artificial intelligence technology and yield generation, such as USD1, Circle’s USDC, and others. Liquidity Shifts To Altcoin Platforms In the gaming sector, liquidity is coalescing around BlackholeDex, a decentralized exchange (DEX) backed by the AVAX Foundation. With a fee-sharing model similar to Aerodrome and Shadow, BlackholeDex has launched veNFT staking, aligning long-term incentives for users. Related Reading: Ethereum Slows Down In June: Historical Data Says More Losses To Come Lastly, in the Solana ecosystem, Saros DLMM is emerging as a strong competitor to existing platforms like Jupiter and Meteora, utilizing similar bucket-based liquidity pools but with lower fees.  It also plans a RADY meme airdrop for SAROS stakers, which could attract early adopters and fuel rapid growth, thus closing the list of highlighted altcoins. As of this writing, Ethereum, the market’s leading altcoin, is trading at $2,521. It has consolidated above this level after dropping sharply from its two-week high of $2,878. Featured image from DALL-E, chart from TradingView.com 

Crypto analyst Cyclop has made a potentially significant statement, claiming that the ongoing crisis between Israel and Iran may inadvertently boost the performance of digital assets.  Despite recent volatility, which saw a sell-off of approximately $140 billion in the crypto market, Cyclop’s long-term analysis reveals a more optimistic outlook for the broader digital asset industry. Analyst Predicts Bullish Trends For Crypto Amid Conflicts In a recent post on X (formerly Twitter), Cyclop pointed to historical patterns that suggest geopolitical tensions often lead to bullish trends in cryptocurrency.  Citing specific instances from April and October 2024, he noted that Bitcoin (BTC) experienced an initial decline of 18% and 10% respectively during these conflicts, only to rebound with impressive gains of 28% and 62% shortly thereafter.  This trend, he argues, indicates a recurring cycle where war-related dips in crypto prices eventually transform into significant growth, as can be depicted in the chart below shared by Cyclop. Related Reading: On-Chain Analyst Warns: Bitcoin Peak Expected, Altcoins Facing -95% Plunge The analyst explains that while such conflicts can trigger short-term bearish movements, the overarching impact tends to be favorable for cryptocurrencies.  As wars ignite fears of inflation and instability, Cyclop has noted that many investors for the traditional finance arena turn to crypto as a hedge against weakening fiat currencies.  Unlike traditional bank accounts, cryptocurrencies are not subject to freezing, he said, making them appealing during times of geopolitical unrest. Increasingly, digital currencies are being viewed as a form of “digital gold,” a safe haven in tumultuous times. Favorable Macroeconomic Factors The current market dynamics echo previous events, such as the Russia-Ukraine conflict and US-Iran tensions in 2020, which similarly resulted in temporary dips followed by recoveries. Cyclop remains confident that the present situation will yield similar outcomes, despite the typical summer slowdown that often affects market activity. Supporting this bullish sentiment are favorable macroeconomic factors. Recent developments indicate that the US and China have reached a compromise, easing tariffs and aiming to stabilize global supply chains. This move is expected to help cool inflation and restore investor confidence.  Moreover, President Donald Trump’s decision to delay new tariffs has contributed to a more risk-friendly environment, allowing liquidity to flow back into crypto markets. Related Reading: Dogecoin Sets The Stage For A Liftoff With Key Reversal Pattern Further aiding this positive outlook is the latest Consumer Price Index (CPI) report, which showed a modest increase of just 0.1% month-over-month, slightly below forecasts.  With year-over-year inflation at 2.4%—down from an expected 2.5%—the Federal Reserve (Fed) is now anticipated to cut interest rates twice by the end of the year. Historically, such rate cuts have been bullish for cryptocurrencies, as they often lead to increased liquidity in the markets. While the immediate aftermath of the Israel-Iran conflict may present challenges, historical data suggests that cryptocurrencies have the potential to thrive in such environments.  Featured image from DALL-E, chart from TradingView.com 

Ethereum (ETH) has experienced a notable pullback after a brief period of upward momentum earlier this month. The asset, which surged past the $2,800 level in mid-June, has since declined by 8.7% over the past week, now trading at around $2,498. This retreat follows broader market consolidation, as Ethereum struggles to maintain upward pressure despite strong on-chain activity. Related Reading: Ethereum Consolidation Continues – Altseason May Follow A Clean Break Above Resistance Ethereum Staking and Accumulation Trends While ETH’s price action has turned negative, on-chain indicators suggest a contrasting narrative of growing investor conviction. According to insights shared by on-chain analyst OnChainSchool via CryptoQuant’s QuickTake platform, Ethereum has set a new record in staking activity. In the first half of June alone, more than 500,000 ETH were staked, pushing the total locked amount to over 35 million ETH. This growth in staked ETH not only reflects rising validator participation but also contributes to reducing the circulating supply, a dynamic that may influence future price movements. The report also highlights a rise in accumulation addresses, wallets that have received ETH but have never transferred any out. These addresses now collectively hold 22.8 million ETH, another all-time high. This trend is often interpreted as a sign of long-term holding behavior and suggests that certain investor cohorts are positioning themselves for future price appreciation rather than short-term gains. Taken together, the record levels of staking and accumulation point toward an increasingly illiquid supply, which, if demand increases, could amplify upward price pressure. Ethereum Hits ATH in Staking: Over 35 Million ETH Locked “Alongside this, Accumulation Addresses (holders with no history of selling) have also reached an all-time high, now holding 22.8 million ETH.” – By @onchainschool Read more ⤵️https://t.co/WYoX9qpODZ pic.twitter.com/6MAlK0sCfJ — CryptoQuant.com (@cryptoquant_com) June 17, 2025 A Technical Look: Price Explosion on the Horizon? In addition to the on-chain data, market participants are also analyzing Ethereum from a technical perspective. A crypto analyst on X operating under the pseudonym “Bitcoinsensus” has drawn attention to a multi-year “bullish flag” pattern forming on ETH charts since 2021. A bullish flag is a technical chart formation that typically follows a strong price move upward, marked by a period of consolidation in a downward-sloping channel. If the asset breaks out of the flag to the upside, it can signal a continuation of the prior bullish trend. Related Reading: Ethereum Holds Key Range Support – Bulls Set Sights on Higher Levels Bitcoinsensus suggests that if the pattern completes, Ethereum could target a move toward the $8,000 range. This potential breakout would depend on several factors, including macroeconomic sentiment, ETF flows, and on-chain fundamentals. Featured image created with DALL-E, Chart from TradingView

Bitcoin continues to trade in a range just below its recent all-time high, maintaining a relatively stable price structure despite broader market fluctuations. As of the time of writing, BTC is priced at approximately $105,756, reflecting a 1% drop in the past 24 hours and a 5.4% decline from its record peak of over $111,000 reached last month. The asset has been consolidating within this band for several weeks, with no clear breakout yet in sight, indicating a moment of uncertainty or possible transition in market direction. A CryptoQuany analyst known as Gaah has offered insights into this phase of the cycle. Related Reading: On-Chain Analyst Warns: Bitcoin Peak Expected, Altcoins Facing -95% Plunge Bitcoin IBCI Suggests Cycle Is Ongoing, Not Exhausted Gaah recently published an analysis on the QuickTake platform, focusing on Bitcoin’s IBCI (Index Bitcoin Cycle Indicators). According to the post, the IBCI surged above 75% earlier this year during Bitcoin’s rally from late 2023 to early 2024, entering what’s known as the “distribution region.” Following the correction in BTC price, the IBCI has now leveled around the 50% mark, traditionally viewed as a neutral zone that often precedes major trend changes. The IBCI’s current position, according to Gaah, may signal a transitional point in the ongoing market cycle. Historically, when the indicator stabilizes in the mid-range, it often reflects the end of a market pullback and the potential beginning of a new upward phase. Gaah noted that over the past decade, Bitcoin’s bullish phases typically concluded only when the IBCI reached and remained in the 100% zone. As this condition has not yet been met, the present consolidation could be laying the groundwork for another leg up, contingent on supportive on-chain metrics and broader ecosystem momentum. The analyst also suggested that the lack of extreme sentiment, whether bullish or bearish, reinforces the view that the market is still evolving rather than nearing a peak. Suppose BTC price manages to push higher while the IBCI trends back toward the 75%–100 % region. In that case, it may indicate a return to the distribution zone and a continuation of the current bull cycle. Exchange Activity Remains Subdued as Retail Interest Stalls In a separate analysis shared on CryptoQuant by another contributor, caueconomy, recent trends in trading activity were examined. Despite Bitcoin trading near historical highs, spot volume across centralized exchanges has dropped to multi-year lows. While the rise of spot Bitcoin ETFs has shifted some volume away from exchanges, the data also reflects limited retail engagement, especially with altcoins. This pattern suggests that current market participation is more aligned with institutional players or long-term holders, rather than speculative retail traders. Caueconomy concluded that these subdued volumes are not typical of euphoric market phases. Instead, they indicate a more measured participation in the market, which may delay the formation of a local top. However, should there be a renewed surge in trading activity, especially from retail investors, it could serve as a signal of a maturing cycle or the onset of another significant price move. Featured image created with DALL-E, Chart from TradingView

As Bitcoin (BTC) and the broader cryptocurrency market show tentative signs of recovery following the most recent correction, a crypto analyst has made a bold statement suggesting that the market may have already reached its peak.  BladeDeFi, in a recent post on X (formerly Twitter), warned followers that a significant downturn could be on the horizon, predicting a challenging summer ahead for the crypto space. Crypto Pump Or Trap? In his post, BladeDeFi emphasized that “crypto has already PEAKED” and forecasted a potential slump where alternative cryptocurrencies could see declines of up to 95%. He indicated that most indicators are flashing red, suggesting that the market is on the brink of a significant downturn.  According to him, Bitcoin has already hit its all-time high early in the current cycle and is now trapped in a “slow-motion downtrend,” with each subsequent bounce becoming weaker than the last. Related Reading: Bitcoin Gold Rush 2.0? Treasuries Swell With 60 New Players The analyst pointed out a concerning trend: retail investors are becoming exhausted, while larger institutional players have begun to exit the market. Major firms like BlackRock, Fidelity, and MicroStrategy are reportedly rotating their investments and hedging their positions, often without making their actions overtly public.  The analyst suggests that this shift leaves retail investors vulnerable, potentially left holding depreciating assets as liquidity in the market continues to dwindle. BladeDeFi also criticized the current market dynamics, warning that sudden price increases or “green candles” are often deceptive, serving only to entice late buyers into traps that lead to further losses.  He noted that without new capital inflows—such as fresh stimulus or significant investment—the recent price pumps lack sustainability. The absence of liquidity means that any upward movements are likely to be fleeting, and the overall trend remains downward. Bitcoin Poised For Year-End Peak? Adding to the bearish sentiment, another analyst, Peppeso, echoed similar concerns, suggesting that the top of the 2025 bull market has already been established.  Peppeso observed historical patterns in previous market cycles, noting that while bull markets have become longer, bear markets have shortened and softened in their impact.  Despite this, Bitcoin has consistently reached all-time highs in the final months of each cycle, reinforcing Peppeso’s expectation of a peak around November or December 2025. Related Reading: Ethereum Consolidation Continues – Altseason May Follow A Clean Break Above Resistance The current market environment is further complicated by macroeconomic factors, including rising interest rates and increasing geopolitical risks. With uncertainty clouding the outlook, many investors are adopting a risk-off approach, leading to a sustained downtrend in the crypto market.  Even popular memecoins like Dogecoin (DOGE) and Shiba Inu (SHIB) have experienced significant declines of 9% and 7% in the past week alone respectively, indicating that the hype surrounding these assets is fading. Featured image from DALL-E, chart from TradingView.com 

Crypto asset investment products experienced another challenging week as capital outflows continued for a second consecutive period. According to the latest report from CoinShares, a total of $584 million exited crypto-focused investment vehicles, pushing the two-week cumulative outflows to $1.2 billion. This movement coincides with investor uncertainty surrounding the likelihood of interest rate cuts by the US Federal Reserve this year, which James Butterfill, Head of Research at CoinShares, believes is contributing to waning sentiment in the market. Butterfill attributed the investor pullback to growing skepticism about macroeconomic policy shifts, particularly rate reductions. At the same time, exchange-traded product (ETP) activity hit a new low, with global ETP volumes falling to just $6.9 billion, marking the weakest weekly trading volume since the launch of spot Bitcoin ETFs in the United States earlier this year. Related Reading: Ethereum Whales Feast While Retail Flees—ETH Ocean Just Got Hungrier Bitcoin and Ethereum Bear the Brunt of The Crypto Outflows Bitcoin accounted for the majority of this week’s outflows, with $630 million leaving BTC investment products. Despite the significant movement of funds out of long Bitcoin positions, short Bitcoin products also recorded outflows totaling $1.2 million. This suggests that investors are not currently betting heavily on downside exposure, opting instead to stay on the sidelines amid uncertain market conditions. Ethereum similarly saw negative flow activity, with $58 million in outflows, continuing the trend of cautious investor behavior across major assets. The report also highlighted geographical breakdowns, noting that the United States led all regions with $475 million in outflows, followed by Canada at $109 million. Germany and Hong Kong recorded smaller outflows at $24 million and $19 million, respectively. In contrast, Switzerland and Brazil stood out as exceptions to the broader trend, bringing in net inflows of $39 million and $48.5 million, respectively. This divergence suggests that local factors or institutional strategies in those regions may be driving different investment behaviors. Altcoins Draw Selective Support While sentiment remained bearish for large-cap assets, some altcoins managed to attract capital inflows. Solana, Litecoin, and Polygon saw modest but notable gains of $2.7 million, $1.3 million, and $1 million, respectively. These inflows may reflect opportunistic positioning by investors seeking exposure to assets that have underperformed recently. Additionally, multi-asset investment products, which spread exposure across various cryptocurrencies, recorded $98 million in inflows. This signals that some investors are using recent price weaknesses to gain diversified access to the market rather than concentrating bets on single tokens. Related Reading: Still Sleeping On XRP? Analyst Says $8 Breakout Is ‘Just Waiting’ The continued divergence in fund flows highlights the complex sentiment currently influencing crypto markets. With macroeconomic uncertainty still dominating investor outlooks, digital asset markets remain reactive to both global monetary policy signals and evolving regional investment trends. Featured image created with DALL-E, Chart from TradingView

Shiba Inu has seen a surge in burn activity, with the burn rate climbing by 3,194% in the last 24 hours. According to data from burn tracker Shibburn, over 521.6 million SHIB tokens were permanently removed from circulation during this period. This sudden and sharp rise in burn rate has raised optimism within the SHIB community, although the token’s price action is struggling with bullish sentiment. Large Transactions Dominate SHIB Burn Activity As shown by data from Shiba Inu’s burn tracking website Shibburn.com, the latest burn wave was dominated by a few large transactions. A notable contributor was the wallet address beginning with “0xdb6,” which alone facilitated burns totaling over 500 million SHIB across multiple transactions to the BA-1 burn address. One of its largest single burns reached 310,744,788 SHIB, followed closely by another 107,333,061 SHIB, and then another 103,276,575 SHIB. Related Reading: Billionaire Snaps Up $100 Million Of Trump Coin – Details Other wallets also participated, including “0x28be” and “0x6176,” with each sending SHIB tokens into various burn addresses such as CA and BA-2. These contributions, although not on the same scale as the primary whale wallet, collectively helped elevate the day’s total burn count to over 521 million SHIB. Together, these burn events reflect a push within the Shiba Inu community to increase SHIB burns, which had otherwise been short of noteworthy burns in recent weeks. Despite Burn Efforts, SHIB Supply Still Faces Uphill Battle Although 521 million SHIB tokens is a significant figure for a single day, it barely makes a dent in the meme token’s vast circulating supply, which currently sits above 589 trillion SHIB tokens. This context relays the challenge faced by the current Shiba Inu tokenomics. Despite periods of aggressive burns like the one witnessed in the past 24 hours, the token’s massive supply continues to weigh on its long-term price appreciation goals. However, the spike in burn rate is still a positive signal, particularly from a sentiment standpoint, especially now that the Shiba Inu price is struggling with sentiment. With SHIB currently trading within a tight range between $0.00001225 and $0.0000119, more Shib burns in the rest of the new week could bode well for its price action moving forward. As of the time of writing, Shiba Inu is trading at $0.00001192, down by 1.7% in the last 24 hours. Despite the massive uptick in burn activity, market response is somewhat muted. However, there may be more happening behind the scenes.  Related Reading: $57 Million In Crypto And Counting: Trump’s World Liberty Connection A Shiba Inu community member recently posted on the social media platform X, hinting that the project’s lead developer, Shytoshi Kusama, still has “several aces up his sleeve” for the Shiba Inu community. Although no further details were shared, past developments like the launch of Shibarium have influenced price trends. Hopefully, any new announcements could reignite interest and drive the Shiba Inu price token to new highs. Featured image from Unsplash, chart from TradingView

Ethereum has been consolidating around the $2,500 price level over the past few days, showing little momentum in either direction. The second-largest cryptocurrency by market cap has struggled to sustain a breakout above the $2,600 resistance zone, despite the inflows into Ethereum Spot ETFs last week.  Related Reading: $57 Million In Crypto And Counting: Trump’s World Liberty Connection One event that has sparked interest, and possibly concern, among Ethereum holders is the reactivation of a dormant whale wallet holding millions worth of ETH. The sudden awakening of this long-inactive address raises questions about a potential selling pressure and its market impact. First Transaction From Dormant ETH Address Since 2015 On-chain tracker Whale Alerts was the first to report the reawakening of a pre-mined Ethereum address that had been inactive for nearly a decade. According to the large on-chain transaction tracker, the wallet, which held 2,000 ETH, initiated its last transaction 9.9 years ago. When the wallet last moved any funds in 2015, the entire stash was worth just $620. Today, that same amount is valued at over $5 million, making the owner’s profit roughly 820x based on current prices. At Ethereum’s all-time high price of $4,878 in 2021, the cryptocurrencies reached an unrealized gain of 1573x. ???? A dormant pre-mine address containing 2,000 #ETH (5,063,918 USD) has just been activated after 9.9 years (worth 620 USD in 2015)!https://t.co/G0i8Rif0XX — Whale Alert (@whale_alert) June 14, 2025 The alert by Whale Alerts, which noted the first transaction after 9.9 years, involved the transfer of 0.0001 ETH from the whale address “0xcF26” to address “0x2C12,” which is a newly created ETH address. However, Etherscan’s on-chain transaction data reveals that the whale address sent 500 ETH into the newly created address shortly afterward.  Following the string of transaction data from Etherscan shows that these 500 ETH eventually made their way into  address “0x28C6,” which is known to be owned and controlled by crypto exchange Binance. This means that the 500 ETH may have already been sold through the exchange or are currently being prepared for liquidation. Brace For Impact: Will The Remaining 1,500 ETH Be Sold? As of now, the original whale address still holds approximately 1,500 ETH, currently valued at $3.796 million. However, it opens up the question of whether the rest of the funds will also be sold. Although we cannot be sure of a planned full liquidation, the pattern of the 500 ETH transfer and the involvement of an exchange address indicate that the possibility cannot be dismissed. Right now, Ethereum is in a fragile price action around the $2,500 price level. If more ETH is offloaded by the whale, the added selling pressure could make it even harder for Ethereum to break out of its current consolidation phase, especially if there isn’t enough buying pressure to absorb the ETH sold off.  Related Reading: Billionaire Snaps Up $100 Million Of Trump Coin – Details At the time of writing, Ethereum is trading at $2,525. The past 24 hours were spent by Ethereum trading between $2,549 and $2,495. Featured image from Unsplash, chart from TradingView

Bitcoin is still trying to regain short-term bullish momentum, as shown by its price action in the past 24 hours. After briefly slipping below $104,500, the cryptocurrency bounced back to trade above $106,000, and technical analysis now shows a technical formation that could cause the start of a more extended rally.   Interestingly, as seen in the daily Ichimoku chart shared by analyst Titan of Crypto, Bitcoin is currently on the verge of confirming a golden cross, which is a bullish signal, within the coming days. Related Reading: Billionaire Snaps Up $100 Million Of Trump Coin – Details Ichimoku Cloud Builds Case For Bullish Breakout Taking to the social media platform X, crypto analyst Titan of Crypto highlighted the recent daily price close above the Tenkan line as a strong technical signal for Bitcoin. The Tenkan, also known as the conversion line, is an intriguing indicator for short-term trend strength in Ichimoku analysis. According to the analyst, the current setup on Bitcoin’s daily chart shows the conditions aligning for a golden cross where the shorter-term average overtakes the longer-term one, which is a potential long-term bullish shift. This crossover, if confirmed, would be one of the most reliable trend-reversal patterns in technical trading. Right now, Bitcoin’s price action is consolidating around $105,000. However, if this golden cross does play out well, Bitcoin could attempt another run toward the key resistance level around $111,600. However, current geopolitical instability, especially the rising tensions in the Middle East, could disrupt this technical picture at any moment and cause a reassessment of the bullish outlook. Image From X: Titan of Crypto Support And Whale Activity Clash With Bullish Setup Despite the bullish technical backdrop, other market signals are flashing warnings for Bitcoin. Notably, analyst Ali Martinez identified $104,124 as an important support level for Bitcoin. This price point is not just arbitrary, as it represents a heavy concentration of UTXO realized prices.  Many investors bought in at that level, and if Bitcoin falls below it, the next likely destination could be $97,405. The URPD chart confirms that the safety net between $104,000 and $97,000 is somewhat thin. This means that once $104,000 is breached to the downside, a swift and steep correction could follow due to the lack of strong buying interest in that gap. Image From X: Ali_charts Further complicating the picture is the behavior of large Bitcoin holders. On-chain data shows that some of the biggest whales, addresses holding over 1,000 BTC, have started reducing their holdings in recent days. This decline in whale wallet count initially began shortly after Bitcoin reached its new all-time high of $111,800 on May 22. The reduction in whale count resumed again after Bitcoin was rejected at the $110,000 region early last week.  Image From X: Ali_charts Related Reading: $57 Million In Crypto And Counting: Trump’s World Liberty Connection As such, whale addresses holding over 1,000 BTC have fallen from a recent peak of 2,114 to a recent reading of 2,094 addresses. At the time of writing, Bitcoin is trading at $105,505. Featured image from Unsplash, chart from TradingView

Bitcoin’s recent rally appears to have paused as the asset declined to just above $104,000 following a 2.1% drop over the past 24 hours. This latest movement signals a potential shift in short-term market momentum, with traders increasingly opting to exit positions. While the broader cryptocurrency market has experienced similar pullbacks, Bitcoin’s trajectory is attracting closer scrutiny due to its influence on overall sentiment and market structure. Analysts are looking into how external factors, particularly geopolitical developments, are impacting trading behavior. One such development is the reported military engagement between Israel and Iran on June 13, which triggered sell pressure across high-risk assets, including digital currencies. Amid these events, key metrics on Binance,  particularly Net Taker Volume, are showing increased sell-side dominance, suggesting short-term volatility may continue. Related Reading: Bitcoin Nears All-Time High as Whale Behavior Suggests Further Upside Binance Net Taker Volume Hits Multi-Week Low Amid Bitcoin Panic Selling According to on-chain analyst Amr Taha on CryptoQuant’s QuickTake platform, Bitcoin’s Net Taker Volume on Binance fell to -$197 million, the most negative reading since June 6. This metric, which compares aggressive selling to aggressive buying, indicates heightened urgency among traders to sell at market prices, bypassing limit orders. The seven-hour moving average (7HMA) has remained in negative territory since June 12, reinforcing the current downward pressure. Historically, such extremes in net taker volume have been linked to local price bottoms, as they often signal panic-induced capitulation by retail and overleveraged traders. Taha highlighted that a similar event occurred on June 6, followed by a 4% rebound in Bitcoin’s price within 24 hours. The implication is that, while aggressive selling may signal weakness, it also presents conditions that have previously preceded price reversals. Geopolitical Shock Triggers Liquidation Cascade, May Signal Local Bottom Taha also pointed to the geopolitical backdrop, specifically the sudden escalation between Israel and Iran, as a major catalyst for recent market behavior. News of the strike led to a surge in liquidation activity, especially among long-leveraged positions. The correlation between the timing of the conflict and the spike in Binance sell volume suggests that traders are reacting to broader market uncertainty, contributing to downward momentum. Related Reading: Bitcoin Funding Rate Flips Again And History Says A Rally Is Around The Corner Despite this, Taha still views these conditions as potentially bullish in the medium term. Heavy selling often flushes out weaker hands, creating opportunities for long-term holders or institutional participants to accumulate positions at lower prices. Taha suggests that while the short-term outlook remains volatile, the current setup resembles previous recovery phases, marked by contrarian buying and reduced selling pressure. Featured image created with DALL-e, Chart from TradingView

Bitcoin’s market price has experienced renewed downward pressure, falling to just under $106,000 in the last 24 hours. This marks a 1.8% dip over the past day and places the asset approximately 6% below its all-time high of over $111,000 reached last month. While the correction is not severe compared to historical volatility, it highlights ongoing uncertainty in the market as BTC consolidates near record highs without sustained upward momentum. One metric drawing attention amid this price movement is the Puell Multiple, a tool used to evaluate whether Bitcoin is overvalued or undervalued relative to miner income. Related Reading: Bitcoin’s Most Reliable Signal Just Flashed—Next Stop: $170,000 Bitcoin Puell Multiple Suggests Miner Revenues Have Yet to Catch Up CryptoQuant analyst Gaah highlighted that while prices recently surged above $108,000, the Puell Multiple remains below 1.40, a level typically associated with discounted or non-euphoric market phases. This decoupling between BTC price and miner revenue offers insight into how recent gains may be more demand-driven than organically supported by on-chain mining fundamentals. The Puell Multiple measures the daily issuance of BTC in USD terms relative to its 365-day moving average. Historically, readings below 1.0 are seen during market bottoms or accumulation phases, indicating undervaluation. Gaah points out that current readings hovering around 1.40 suggest miner profitability is still lagging, even as the asset trades near historic highs. This pattern contrasts with previous bull cycles where high prices were often accompanied by elevated miner earnings, driven by both network activity and block rewards. This disparity may be due in part to the April 2024 Bitcoin halving event, which reduced block rewards from 6.25 BTC to 3.125 BTC per block. While halving events typically drive price appreciation through reduced supply, they simultaneously put downward pressure on miner revenue. In this case, despite a climb in market price, the halving’s impact continues to suppress income for miners, implying that the price increase has not yet been accompanied by the kind of broader economic expansion that would traditionally drive a full-fledged bull market. Potential for Continued Growth as Institutional Forces Drive Demand Gaah also points to the possibility that external factors may be playing a more dominant role in driving recent price action. These include increasing institutional inflows through spot Bitcoin ETFs, as well as a tighter circulating supply as long-term holders reduce active selling. These forces could be supporting price without necessarily boosting miner profitability in the short term, especially if the uptick is concentrated in secondary market demand rather than new BTC issuance. The current environment may signal a unique window for participants analyzing Bitcoin’s valuation. A high market price combined with conservative fundamentals suggests the market is not yet in a speculative excess phase. Related Reading: Bitcoin Bears Back In Control After $110,000 Rejection, What Comes Next? If miner revenues eventually rise in line with growing demand, driven by either increased transaction fees or broader network usage, it could support further upside. As such, both technical and fundamental indicators may continue to evolve in the coming months, offering a clearer view of whether the current cycle has more room to run. Featured image created with DALL-E, Chart from TradingView

Crypto market capitulation refers to a point of extreme selling pressure when investors panic and sell off assets, often marking the bottom of a market cycle.

Tron (TRX) has experienced positive price action recently, aligning with the upward trend seen across the broader cryptocurrency market. In the past 24 hours, TRX climbed approximately 3.9%, reaching a trading value of $0.294. Despite these recent gains, Tron remains significantly below its all-time high of $0.43, set in December 2024, representing roughly a 31.8% decrease from that peak. This upward trajectory coincides with notable stablecoin activity on the Tron network, particularly involving Tether’s USDT token. Recently, a substantial minting event involving USDT occurred, signaling increased liquidity and potential market demand. Related Reading: TRON Surges Past 8 Million Daily Transactions as TRX Holds Above $0.27 Significant USDT Minting Event on Tron Amr Taha, an analyst from CryptoQuant’s QuickTake Platform, highlighted a significant event occurring on the Tron blockchain involving Tether’s stablecoin, USDT. According to Taha’s report titled “Tether Treasury mints $1 billion USDT on TRON prior to Bitcoin reaching $110,000,” the Tether Treasury recently issued 1 billion new USDT tokens on the Tron blockchain on June 9, 2025. This mint represents the largest single issuance of USDT on Tron for the month so far, emphasizing the network’s increasing relevance for stablecoin transactions. Taha noted that two primary factors likely drove this sizable minting event. First, it points toward elevated market demand for stablecoins, particularly within Tron’s ecosystem, known for low transaction fees and high-speed transfers. Second, the minting could signal significant institutional activity or preparations for substantial over-the-counter (OTC) crypto trades. Historically, such minting events tend to precede increased trading activity as investors leverage newly injected liquidity into the markets. The introduction of additional stablecoin liquidity typically boosts overall cryptocurrency market conditions, potentially providing support during periods when traditional financial markets are less robust. Divergent Trends: Rising TRX Price and Declining TVL Meanwhile, separate on-chain analysis by CryptoQuant contributor Joao Wedson noted a sharp decrease of nearly $2 billion in the total value locked (TVL) within lending protocols on Tron. This recent drop in TVL contrasts notably with the rising price of TRX, marking a divergence that raises intriguing questions for investors. Wedson pointed out that historically, reduced TVL in lending platforms on Tron has correlated with upward price movements for TRX, as previously observed in early 2024. Related Reading: Analyst Explains Reason Behind Tron Price Sluggishness — Are TRX Bears Now In Control? However, the current scenario, where TRX’s value continues to climb despite significant reductions in lending protocol engagement, may hint at underlying shifts in investor strategies or possible structural changes within the network’s financial ecosystem. Featured image created with dALL-E, Chart from TradingView

Bitcoin has returned to an upward trajectory, with the asset posting a 1.7% gain in the last 24 hours to reach $109,505. This marks a 4% increase in the past week, placing the cryptocurrency less than 2% below its all-time high of $111,000 set last month. The move follows a period of subdued market activity, with recent gains occurring in a relatively quiet trading environment. Analysts have looked into on-chain indicators for signals of whether the current price action is sustainable or approaching overheated levels. Particularly, unlike previous rallies driven by sharp price spikes and speculative retail demand, the latest growth appears more measured. This has prompted the assessment of metrics such as Binary Coin Days Destroyed (CDD), MVRV ratio, and exchange premium indexes to gauge underlying investor behavior and sentiment. Related Reading: BlackRock’s Bitcoin ETF Becomes Fastest Ever To Reach $70 Billion AUM Bitcoin Long-Term Holders and US Demand Drive Quiet Accumulation According to an analysis published on CryptoQuant’s QuickTake platform by contributor Avocado Onchain, Bitcoin’s current rally is taking shape under relatively stable conditions. The analyst points to a declining 30-day moving average of Binary CDD, a metric that tracks the spending behavior of long-term holders. The decrease suggests that these holders are not yet exiting the market, indicating a continued confidence in the asset’s potential for further gains. Another notable indicator cited in the analysis is the Coinbase Premium Index, which measures the difference between Bitcoin prices on US-based Coinbase and other global exchanges. This premium is increasing and nearing levels observed during Bitcoin’s prior peaks in March and December 2024. While elevated premiums can be a warning sign of overheating, Avocado notes that the Korea Premium Index remains low, suggesting muted activity from retail traders in Asia. This balance implies that institutional buying pressure, particularly from US-based investors, could be driving the recent momentum. In addition, the MVRV ratio, a comparison of Bitcoin’s market value to its realized value, has been rising gradually without any sharp jumps. This suggests that the market has not entered an extreme greed phase, further reinforcing the idea that the current uptrend may have more room to run.  Avocado wrote: In summary, rather than anticipating a correction, the current indicators suggest that Bitcoin may have further room to grow, and this could be a time to carefully monitor the potential for continued upside. Whale Activity and Institutional Inflows Signal Market Confidence In a separate post, another CryptoQuant contributor known as Crypto Dan highlighted consistent buying activity from larger market players. His report notes that the Coinbase Premium has been climbing steadily since April 21, indicating increased demand from US investors. This trend, combined with observations of whale accumulation, points to a strengthening market foundation despite the absence of exuberant price behavior. Related Reading: Why The Bitcoin Price Could See Another 70%-170% Jump From Here The analyst further noted that such patterns are characteristic of post-correction recovery phases in Bitcoin’s historical price cycles. So far, the combination of long-term holder conviction, institutional demand, and subdued retail activity suggests the rally may be advancing on more stable footing than prior surges. Featured image created with DALL-E, Chart from TradingView

The market’s leading cryptocurrency, Bitcoin (BTC), experienced a notable spike on Monday, surging past the $108,000 mark after a period of consolidation between $100,000 and $106,000 for the past week.  This surge comes as key officials from the United States and China prepare for critical trade negotiations in London, aimed at addressing ongoing tensions and salvaging “a fragile trade agreement.” US-China Trade Talks Spark Investor Optimism The cryptocurrency gained 2% on Monday, briefly touching a peak of $108,900 before settling back slightly. This uptick reflects growing investor optimism regarding the potential resolution of trade disputes between the US and China, one of its largest trading partners.  Treasury Secretary Scott Bessent and China’s Vice Premier for Economic Policy, He Lifeng, are set to lead their respective delegations in discussions that began Monday and are expected to continue into Tuesday, as reported by Fortune. Related Reading: Pundit Says Do Not Ignore Ethereum Amid New All-Time Highs In Major Metric These negotiations are part of President Donald Trump’s broader strategy to compel US trading partners to meet various demands, often through the threat of imposing significant tariffs on imports.  Following the announcement of a sweeping tariff policy in April, which impacted nearly all American trading partners, Trump authorized a 90-day pause for negotiations. However, this pause did not apply to tariffs on China, which were escalated to 145%. Trade Talks Resuming As Bitcoin Prices Rise The heightened tensions between the two nations had previously led to a significant drop in Bitcoin’s value, reaching a yearly low of $75,000 as fears of a trade war drove investors away from American markets.  However, optimism returned following a summit in Geneva last month, where Trump announced a temporary agreement that would lower tariffs and facilitate further discussions. In the wake of this news, Bitcoin surged to an all-time high of $111,800 on May 22. Yet, the truce was short-lived. Trump claimed that China had violated the agreement over a dispute regarding exports of rare earth magnets. On May 30, he expressed his frustrations on Truth Social, stating, “China, perhaps not surprisingly to some, HAS TOTALLY VIOLATED ITS AGREEMENT WITH US. So much for being Mr. NICE GUY!” In an urgent attempt to salvage the deteriorating trade deal, Trump and Chinese President Xi Jinping held a phone call last week, their first in months. Following this 90-minute conversation, it was announced that senior officials from both countries would meet in London this week to resume negotiations. In addition to trade-related factors, Bitcoin’s recent price surge may also be influenced by increased activity in the cryptocurrency initial public offering (IPO) market.  Wave Of Crypto IPO Activity Last week, the stablecoin giant Circle made its public debut on the New York Stock Exchange (NYSE), with its shares soaring by over 168%, jumping from an initial price of $31 to $69 on the first day of trading.  Additionally, Gemini, the cryptocurrency exchange founded by the Winklevoss twins, filed for an initial public offering, further demonstrating the crypto industry’s growing connection to traditional finance. Related Reading: Dogecoin Is Going To $1 With The ‘Next Impulse’, Analyst Predicts “While the IPO excitement may be short-lived, the long-term positioning of institutional investors suggests a bullish outlook for Bitcoin’s performance through 2025,” remarked David Siemer, CEO of Wave Digital Assets, in an interview with Fortune. When writing, BTC trades at $108,670, recording gains of 6% in the monthly time frame, little over 2.7% from its record high of $111,8000 reached in May.  Featured image from DALL-E, chart from TradingView.com 

Ethereum has shown signs of regaining momentum after a recent period of decline. The asset is currently trading at approximately $2,540, reflecting a modest 1% daily increase. This upward move follows a notable dip to the $2,400 range last week, marking what appears to be a short-term rebound from recent bearish pressure. While price fluctuations continue, on-chain analysts closely monitor Ethereum’s market structure through various metrics that provide historical context and potential forecasting value. Recent insights from a CryptoQuant analyst have focused on how ETH’s long-term behavior aligns with certain key indicators, which may help define price floors and signal overheated market conditions. Related Reading: Bitcoin And Ethereum Defend Key Moving Averages – Bullish Signal Or Temporary Relief? Assessing Ethereum Price Floors Using On-Chain Data One of CryptoQuant’s analysts, writing under the name CryptoOnchain, shared a breakdown of Ethereum’s potential “price floors” using a composite of on-chain and market metrics. These floors represent statistical thresholds that have historically acted as support zones during market corrections. Among them is the realized price, which measures the average value at which all circulating ETH last moved on-chain. This metric is often used as a sentiment gauge to track when market participants are in profit or loss. Another benchmark, the mean_price_classic, reflects the average daily closing price of ETH since inception and serves as a cumulative market average. It is used in conjunction with the delta_price_classic, a figure derived from the difference between Ethereum’s realized capitalization and its historical average cap, adjusted for supply. According to the analyst, this delta price is frequently cited in Bitcoin analytics to highlight undervalued zones, and its adaptation for Ethereum provides a comparable lens for identifying periods when the market may be at or near a floor. Tracking Market Tops and Potential Resistance Zones In a separate analysis report, CryptoOnchain highlighted tools for identifying potential market tops. The indicators outlined include the realized_price_x2 and realized_price_x3, which are calculated by multiplying Ethereum’s realized price by two and three, respectively. Historically, these levels have coincided with overheated phases of the market, where prices reached temporary peaks before correcting. Related Reading: Ethereum Consolidates Below $2,800 – Bulls Need This Level To Trigger Next Leg Up Another tool, the price_top_stddev, incorporates volatility into the analysis by adding two times the historical standard deviation of ETH’s closing price to the realized price. This combination serves as a marker of statistically elevated prices, often aligning with periods of heightened euphoria and speculative activity. CryptoOnchain suggests that monitoring these zones can assist traders in managing risk during extended rallies, as these resistance levels have previously preceded major cycle reversals. Featured image created with DALL-E, Chart from TradingView

Bitcoin has resumed its upward trajectory, registering a modest 1.6% gain over the last 24 hours to trade at $107,428. The recovery comes after last week’s dip toward $100,000 levels, which had been triggered by market-wide volatility and profit-taking. While BTC remains approximately 4.2% below its all-time high of $111,000 reached last month, the weekly trend still reflects a 3.3% increase, suggesting buyers are gradually regaining confidence. This market behavior is mirrored in a set of on-chain indicators recently analyzed by CryptoQuant contributor Amr Taha. Related Reading: Bitcoin And Ethereum Defend Key Moving Averages – Bullish Signal Or Temporary Relief? Bitcoin On-Chain Metrics Reflect Accumulation Behavior In Taha’s analysis titled “On-Chain Data Hints at Bitcoin’s Next Leg Higher,” Taha examined several metrics that point to a potential continuation of the rally. These include the Binance Taker Buy/Sell Ratio, UTXO age bands, and the Long-Term Holder (LTH) realized cap. All three suggest that market participants are actively accumulating and that underlying sentiment is shifting toward renewed bullishness. One of the primary indicators Taha focused on is Binance’s Taker Buy/Sell Ratio, which has recently climbed to 1.1. This metric evaluates the volume of aggressive market buys versus market sells on the Binance exchange. A ratio above 1 typically implies that more participants are willing to pay the market price to buy than to sell, indicating stronger buyer conviction. According to Taha, such shifts historically precede continued price increases when supported by volume. Another key metric showing strength is the Buy/Sell Pressure Delta over the last 90 days. This indicator tracks the net difference between buying and selling pressure and is now halfway to its historical peak at 0.02. Taha explains that this suggests a market not yet overheated, with room for further accumulation. Combined with recent breakout behavior above the 1D–1W UTXO band, representing recently transacted coins, this hints that many new holders are currently in profit and choosing to hold rather than sell. LTH Conviction and Stablecoin Inflows Reinforce Bullish Case Taha also noted the Long-Term Holder (LTH) Realized Cap has now surpassed $56 billion, reflecting strong hands holding a larger share of Bitcoin supply. These coins have not moved in over 155 days and are considered to represent investors with higher conviction. The increase in this metric implies that fewer coins are being sold into the market, a signal that many investors are expecting higher valuations in the coming weeks or months. Related Reading: Bitcoin Leveraged Traders Are Back Betting On A Price Decline — What This Means In addition, more than $550 million in stablecoins have reportedly flowed into Binance in recent hours. Historically, such inflows to spot exchanges, as opposed to derivatives platforms, often suggest readiness to deploy capital for direct asset purchases. Notably, all of these indicators can be seen as a leading signal of potential volatility or buying pressure. If this pattern holds, Bitcoin’s short-term price activity may benefit from continued accumulation and institutional positioning. Featured image created with DALL-E, Chart from TradingView

Bitcoin prices have returned above $105,000 in the past 24 hours following a sharp price decline on Thursday triggered by macroeconomic pressures. Notably, US President Donald Trump and former political ally Elon Musk had engaged in a public spat which spiked the volatility in a crypto market already undergoing a corrective phase.  Amidst some level of renewed stability in the last two days, popular analytics firm Glassnode has now shared an important on-chain analysis highlighting the presently key price levels in the Bitcoin market.  Related Reading: Can Bitcoin Price Bounce To $120,000 Or Will It Break Below $100,000? Bitcoin Ready For Breakout As Traders Eye $114K And $83K Levels  In an X post on June 7, Glassnode provides an insight on potential Bitcoin price action using the Short-Term Holder (STH) cost basis model, derived from the Work of Cost (WOC) price framework. As the name implies, the STH cost basis represents the average purchased price of all coins belonging to short-term holders i.e. investors who acquired their Bitcoin within the last 155 days.  The STH cost basis is an important market metric as it reflects the risk appetite of newer market participants who are typically the most reactive to price change. It is also a strong indicator of market sentiment with an ability to act as resistance or support depending on the price direction.  According to the data by Glassnode, the current Bitcoin STH cost basis is estimated at $97,100. Using standard deviation bands in this WOC model, Glassnode has further identified the $114,800 price level as the +1STD level of this cost basis and a potentially heated market zone. Considering Bitcoin’s price, this $114,800 price zone represents the next major resistance, a break above which is expected to trigger a massive buying pressure and push the premier cryptocurrency further into uncharted price territory.  Glassnode’s WOC model also identifies the -1STD level at $83,200 to represent a critical support zone in the present bullish structure. A decisive price fall below this level would signal market weakness and is likely to cause a cascade of liquidations and further price corrections.  Related Reading: Crypto Analyst Says This Bitcoin Top Signal Hasn’t Gone Off Yet — What To Know Bitcoin Price Overview  At the time of writing, Bitcoin trades at $105,745 reflecting a 1.07% gain in the last 24 hours. Meanwhile, the asset’s daily trading volume is down by 34.27% and valued at $38.66 billion. Provided Bitcoin continues to consolidate above the STH cost basis at $97,100, there is a valid chance for a market bullish push towards resistance at $114,800. However, a loss of the critical support at $97,100 would points to a retest at $83,200 which holds strong potential bearish consequences. Featured image from iStock, chart from Tradingview

Bitcoin is showing signs of recovery after a brief but sharp dip triggered by recent market turbulence linked to public tensions between Donald Trump and Elon Musk. The price of BTC had dropped to nearly $100,000 during the height of the reaction, but has since rebounded. At the time of writing, Bitcoin is trading at $104,891, marking a steady recovery from the 24-hour low. While the broader crypto market continues to digest the fallout, new data suggests that another force, miner activity, is beginning to shape the near-term outlook. Related Reading: Bitcoin Pullback or Setup? On-Chain Metrics Hint at What’s Coming Next Bitcoin Surge in Miner Inflows Could Pressure Price Action According to on-chain analytics published by CryptoQuant contributor CryptoOnchain, Bitcoin miners have dramatically increased the volume of BTC transferred to exchanges. Between May 19 and May 28, miner-to-exchange inflows exceeded $1 billion per day, levels not seen in previous market cycles. These inflows are often viewed as a proxy for miners’ intent to sell, which could influence short-term supply dynamics and introduce added volatility to BTC’s spot market performance. The rise in realized inflows from miners to exchanges is interpreted as a sign of growing sell-side pressure. Since miners are key liquidity providers in the Bitcoin ecosystem, large-scale transfers to exchanges are typically seen as preparations to offload BTC. Historically, spikes in miner outflows have preceded periods of downward price pressure, particularly when they occur alongside fragile market conditions. CryptoOnchain emphasizes that while miner selling isn’t inherently negative, it can impact short-term price stability. As a result, traders and investors often monitor these flows to better assess potential risks. When miner inflows surge, it reflects the sector’s sentiment regarding profitability, operational stress, or anticipated price changes. CryptoOnchain noted: Paying close attention to these inflows—especially during historical peaks like the current phase—can help with risk management and more informed trading decisions. Hash Ribbon Signal Suggests Longer-Term Opportunity Amid rising sell pressure, another indicator is flashing a potential opportunity. CryptoQuant analyst Darkfost noted that Bitcoin’s Hash Ribbons indicator, a metric derived from comparing 30-day and 60-day moving averages of network hashrate, has recently produced a new buy signal. This metric is used to evaluate miner stress and recovery phases, and is generally interpreted as a signal that miners have gone through a period of capitulation and are now stabilizing or recovering. This signal has historically aligned with favorable long-term entry points, except in unique events like China’s 2021 mining ban. While the short-term effects of mining stress may contribute to price weakness, analysts suggest that these periods often set the stage for longer-term rallies. When miner capitulation resolves, it can clear excess supply from the market and establish stronger support levels. Featured image created with DALL-E, Chart from TradingView

Bitcoin (BTC) dropped sharply over the past 24 hours, nearing the $100,000 mark with an intraday low of $100,984. This price movement reflects increased volatility across the crypto market following a public exchange on social media between US President Donald Trump and Tesla CEO Elon Musk. Their clash appears to have triggered a wave of risk-off sentiment among traders. In response, the global crypto market cap slipped 4%, falling from over $3.4 trillion yesterday to $3.33 trillion. Meanwhile, the broader market correction has not gone unnoticed in derivatives data. Related Reading: Crypto Analyst Warns: This Bitcoin Bull Cycle Looks Nothing Like 2017 or 2021 Derivative Metrics Reveal Bearish Sentiment Spike According to CryptoQuant analyst Darkfost, the Binance net taker volume, a metric that measures the difference between aggressive longs and shorts, fell dramatically from $20 million to -$135 million in under eight hours. This signals a sharp pivot in sentiment, as traders rushed to hedge or speculate on downside risk in response to the unfolding news. Darkfost emphasized that this was the largest intraday net taker volume reversal observed on Binance this year. The abrupt shift reflects how quickly sentiment can change when macro-level narratives or influential figures dominate headlines. In this case, the market responded swiftly to perceived uncertainty, leading to a concentration of short positions and significant selling pressure. The situation also led to a notable change in BTC perpetual futures funding rates. Funding on Binance turned negative after briefly trending toward positive territory, dropping from +0.003 to below -0.004. This indicates that short sellers were willing to pay a premium to maintain bearish positions, underscoring rising fear and potentially overextended downside bets. ????When Funding rates turns negative. ???? Buying or considering a long position is often wise when funding rates turn highly negative, especially if the price starts to trend upward. This typically signals a disbelief sentiment among traders, creating strong contrarian… pic.twitter.com/LGyHU9uNNK — Darkfost (@Darkfost_Coc) June 6, 2025 Bitcoin Past Patterns Suggest Potential for Reversal Historically, deeply negative funding rates have been followed by strong recoveries in Bitcoin’s price. Darkfost noted three previous events where similar funding shifts led to large rallies: October 2023 (BTC surged from $28,000 to $73,000), September 2024 (from $57,000 to $108,000), and May 2025 (from $97,000 to $111,000). Related Reading: Bitcoin’s Key Investors Double Down, Buy Another 79,000 BTC While not guaranteed, these patterns suggest that extreme pessimism can sometimes signal market turning points. The only recent exception occurred in March 2025 following trade tariff announcements, which led to a continued decline. Still, many traders are watching closely for signs of a short squeeze, where price rebounds force short sellers to cover, amplifying upward momentum. Featured image created with DALL-E, Chart from TreadingView

The Ethereum (ETH) price experienced a significant decline on Thursday, falling over 7% and approaching the $2,400 mark. However, expert analysis suggests that a new bullish trend may soon emerge for the second-largest cryptocurrency.  Key Metrics Indicate Accumulation By Larger Investors Market analyst Lark Davis took to social media platform X (formerly Twitter) to share insights on Ethereum’s potential. He noted that various on-chain metrics and market behaviors indicate an impending breakout for the ETH price.  Notably, Ethereum has been outperforming Bitcoin (BTC) in the second quarter of the year, suggesting growing investor confidence. The recent Pectra upgrade has improved Ethereum’s scalability and reduced its inflation rate, making it more attractive to investors.  Related Reading: Bitcoin Price Crash To $100,00 Loading: Next Targets Revealed As Bears Take Over Additionally, the expert highlights that with exchange balances hitting seven-year lows and substantial inflows into Ethereum exchange-traded funds (ETFs), it appears that larger investors are accumulating ETH for the long term. Despite these bullish indicators, Davis cautioned that not all market participants share this optimistic outlook. Betting markets on Polymarket currently assign only a 27% chance that Ethereum will reach a new all-time high by 2025.  Critical Support For Ethereum Amid Political Disputes The broader cryptocurrency market also faced challenges on Thursday, with total market capitalization dropping from $3.30 trillion to approximately $3.12 trillion. Bitcoin, XRP, and Solana (SOL) were among the notable cryptocurrencies experiencing losses, retracing by 3%, 5%, and 6%, respectively. In a separate but related development, tensions between US President Donald Trump and his former adviser Elon Musk have surfaced, adding to the day’s market volatility.  Trump expressed disappointment over Musk’s criticism of a key tax and spending bill from his administration, suggesting that their “great relationship” may be nearing its end. Musk retaliated by accusing Trump of ingratitude, claiming his support was instrumental in Trump’s election victory.  Related Reading: Crypto Analyst Warns: This Bitcoin Bull Cycle Looks Nothing Like 2017 or 2021 This public dispute has drawn attention to the intersection of US politics and cryptocurrency, a dynamic that market analyst Income Sharks noted in a recent post on Elon Musk’s social media site, X.  The analyst remarked on the swift impact of political conflicts on crypto markets, emphasizing that the Ethereum price has not yet lost critical support levels.  Income Sharks, in his analysis, identified the $2,390 mark as a crucial support point for the altcoin in the immediate term, which could determine the next upward targets of $3,000 and $4,000. While trading at $2,406 when writing, Ethereum finds itself well below its all-time high reached during the market’s last bullish cycle in 2021. As of now, the altcoin stands 50% below its record of $4,878, according to CoinGecko data. Featured image from DALL-E, chart from TradingView.com 

Shares of Circle Internet Group, the issuer of the market’s second-largest stablecoin, USDC, experienced a remarkable surge on Thursday, skyrocketing 168% as the company made its debut on the New York Stock Exchange (NYSE).  Circle’s IPO Exceeds Expectations Circle’s stock opened at $69, well above its IPO pricing of $31. Throughout the day, the shares reached a peak of $103.75, showcasing strong investor enthusiasm.  The IPO was priced late Wednesday, exceeding the anticipated range of $27 to $28, and substantially outpacing an earlier range of $24 to $26. This pricing strategy valued the company at approximately $6.8 billion before trading commenced. Related Reading: Messari Flags XRP’s Silent Rise As A Treasury Favorite—Here’s Why By the end of the trading session, Circle’s trading volume reached about 46 million shares, far surpassing the number of freely floating shares available. This impressive performance positions Circle alongside other cryptocurrency firms like Coinbase, Mara Holdings, and Riot Platforms as a notable player in the US market. CEO Jeremy Allaire emphasized the importance of building relationships with governments and policymakers, stating, “To realize our vision, we needed to forge relationships with governments… it’s got to work in mainstream society and you need to have those rules of the road.”  Allaire highlighted Circle’s commitment to compliance and transparency, which he believes has contributed to the company’s success in a challenging regulatory environment. Could Higher Prices Follow For Future Listings? The strong debut of Circle’s IPO could signal a shift in how institutional investors approach upcoming listings, potentially leading to higher initial public offering prices for future offerings. Notable companies preparing for IPOs include Omada Health, which is pricing on Thursday, and Klarna, a fintech firm set to list next week. While Circle’s IPO share price initially set its market value at $6.1 billion—below its last private market valuation of $7.7 billion from 2021—Thursday’s trading surge adjusted that figure.  Related Reading: Crypto Analyst Warns: This Bitcoin Bull Cycle Looks Nothing Like 2017 or 2021 By the close of trading, Circle’s market capitalization, excluding employee options, stood at an impressive $16.7 billion. The company successfully raised approximately $1.1 billion through the offering. Circle’s journey to this point has been marked by challenges, including its previous attempt to go public. Circle’s previous attempt to go public via a merger was with a special purpose acquisition company (SPAC), which collapsed in late 2022 due to regulatory hurdles.  The company’s largest outside shareholders include General Catalyst and IDG Capital, holding approximately 8.9% and 8.8% of all stock, respectively. Other significant backers such as Accel, Breyer Capital, and Oak Investment Partners continue to support Circle’s vision in the evolving crypto marketplace. Featured image from DALL-E, chart from TradingView.com 

TRON (TRX) has experienced relatively stable price movement over the past week, fluctuating within a narrow range between $0.276 and $0.272. At the time of writing, the token is trading at $0.2729, reflecting a weekly decline of approximately 1.5%. However, zooming out reveals a broader uptrend, with TRX gaining nearly 12% over the past month, indicating growing market interest amid a backdrop of increased on-chain activity. An assessment of TRON’s network-level data suggests the blockchain is experiencing a surge in usage. According to a recent analysis published on CryptoQuant’s QuickTake platform by contributor Darkfost, daily transaction volume on the TRON network has crossed the 8 million mark, a notable increase from earlier this year. This growth in network transactions is considered a critical indicator of underlying demand and user engagement, which could influence market sentiment around the asset. Related Reading: TRON Activity Hits All-Time High, Is a TRX Price Breakout Coming? Transaction Volume and Address Activity Show Strong Network Engagement Darkfost noted that TRON’s monthly average for daily transactions has seen consistent growth, with recent data showing a roughly 2 million increase in average daily transactions since February. The network is now processing over 8 million transactions per day, marking a more than 30% rise over the past four months. Importantly, a large share of these transactions is occurring outside centralized exchanges, pointing to the growing utility of the blockchain for peer-to-peer transfers and decentralized application (dApp) usage. This shift away from centralized platforms may reflect increased interest in TRON’s native ecosystem services and its competitive yield offerings. As more users interact directly with the network, transaction-based liquidity grows, which can contribute to stronger economic activity across the TRON protocol. Darkfost emphasized that this trend of non-exchange transactions is a positive signal for the blockchain’s real-world usage and investor adoption. TRON Active Address Metrics Reach New Highs In a separate update, CryptoQuant analyst Cryptoonchain highlighted that both the 50-day and 100-day moving averages for active addresses on the TRON network have hit their highest levels to date. This sustained rise in active wallet participation suggests a growing user base that is consistently interacting with the blockchain. While TRX’s price has not fully kept pace with the uptick in address activity, historical trends suggest that increased user engagement often precedes upward price movement. Related Reading: Analyst Explains Reason Behind Tron Price Sluggishness — Are TRX Bears Now In Control? The correlation between active address growth and price performance continues to be an area of interest. With momentum building across multiple on-chain indicators, there is a likelihood that TRON may be positioned for further gains if current trends hold. Analysis of Daily Active Addresses and TRX Price on Tron Network – All-Time Highs in Moving Averages “Historically, changes in active address trends tend to precede major price movements.” – By @CryptoOnchain pic.twitter.com/7QXqP6g1Gh — CryptoQuant.com (@cryptoquant_com) June 4, 2025 Featured image created with DALL-E, Chart from TradingView

Bitcoin’s price continues to show signs of consolidation following its all-time high of over $111,000 recorded in May. At the time of writing, the asset is trading at $104,851, down 0.3% in the past 24 hours and roughly 6.3% below its recent peak. This period of relative price stability comes amid cautious sentiment across the broader crypto market, as analysts examine whether the current bull cycle is beginning to shift gears or simply experiencing a temporary pause. CryptoQuant contributor Crypto Dan has released a comparative analysis of current and past market cycles, noting several distinct behaviors in Bitcoin’s recent price action. Drawing parallels to the bull runs of 2017 and 2021, Dan suggests that while similarities exist, the current cycle has developed unique characteristics. These changes could signal a different structure in how the market plays out, particularly in terms of timing and investor participation. Related Reading: Bitcoin Scarcity May Spark Explosive Surge, Bank Study Shows Comparing Bitcoin Cycles: 2024–2025 Diverges from Historical Patterns According to Dan, previous cycles saw more predictable corrections and rallies. In 2017, Bitcoin experienced relatively short corrections before entering a prolonged rally that concluded in late December of that year. The 2021 cycle, affected early on by the COVID-19 pandemic, featured a longer initial correction before a strong upward surge. In both cases, once Bitcoin gained momentum, corrections became less frequent and shorter in duration. The current cycle, spanning 2024–2025, has so far been marked by alternating strong rallies and sudden declines, often occurring over short timeframes. These patterns have dampened broader market sentiment, particularly during periods when altcoins significantly underperformed Bitcoin. Dan posits that these repeated pullbacks may not be purely organic. Instead, they could indicate intentional suppression by large players aiming to extend the cycle’s duration and prevent overheating. If this interpretation holds, the bull cycle could end not with a gradual fade, but a sharp spike driven by euphoric buying behavior. Retail Activity Declines as Institutions Drive Market Structure A separate analysis by CryptoQuant’s Burak Kesmeci focuses on the behavior of retail investors since Bitcoin hit its $111,000 high in late May. Data shows that retail transfer volumes,  transactions valued between $0 and $10,000, have decreased from $423 million to $408 million. Additionally, the 30-day change in retail demand has slipped into negative territory, shifting from +5 points to -0.11 points. This reduction in retail activity suggests that smaller investors remain sensitive to short-term volatility, stepping back in response to recent price corrections. Related Reading: The Last Bitcoin Cycle? Swan Says History’s Turning Kesmeci argues that for the bull cycle to sustain momentum, consistent participation from retail segments is crucial. At present, institutional interest appears to be the primary source of demand. The divergence between these two investor classes may shape how the next leg of Bitcoin’s market cycle develops. Featured image created with DALL-E, Chart from TradingView

Bitcoin is experiencing a short-term price decline. In the past 24 hours, the asset has fallen by approximately 9.3% to a trading value of $105,062. This pullback places Bitcoin roughly 8% below its all-time high recorded last month. The dip comes amid broader market volatility, but on-chain indicators and exchange data suggest deeper structural trends that may influence the next phase of Bitcoin’s price trajectory. Recent market analysis points to renewed accumulation among long-term holders, a spike in exchange withdrawals, and rising spot trading activity on Binance. These developments are being interpreted as signals of underlying strength despite recent price weakness. CryptoQuant contributor Amr Taha has provided a detailed breakdown of these emerging patterns, offering a perspective on how long-term dynamics may be shaping Bitcoin’s current market behavior. Related Reading: Bitcoin 3–5 Year Holders Slow Selloff—Waiting for Higher Prices? Binance Trading Volume Rises, Long-Term Holders Accumulate Since early June, Binance has seen its share of Bitcoin spot trading volume increase from 26% to 35%, positioning it more firmly as the dominant platform in the market. This increase in trading activity has occurred as Bitcoin approaches and tests key price levels. According to Taha, this surge may indicate renewed interest from retail and institutional traders alike, particularly as volatility draws more short-term market participants to major exchanges. In addition to exchange volume shifts, on-chain data reveals growing confidence among long-term Bitcoin holders. The Long-Term Holder (LTH) Net Position Realized Cap, a metric that reflects the value of coins held by entities with a holding period of over 155 days, has returned above $20 billion. Historically, this type of accumulation pattern has preceded periods of price expansion, as long-term investors tend to hold through corrections and avoid frequent selling. The rise in LTH realized cap suggests these entities are not exiting positions during this market dip, which may reduce available supply and support future upward movement. Bitcoin Large Exchange Withdrawals Signal Tightening Supply Beyond trading activity and holder behavior, Taha pointed out that another notable trend is emerging on centralized exchanges. Over a two-day period, Kraken and Bitfinex recorded net Bitcoin outflows exceeding 20,000 BTC, among the largest short-term withdrawals in recent months. Such movements are often interpreted as signals of investors shifting assets into self-custody, possibly in anticipation of long-term holding or strategic redeployment. Related Reading: Bitcoin Could Go ‘Bananas’ If Price Closes Above This Level, Top Analyst Says Combined, the rise in Binance’s market share, increased LTH accumulation, and exchange outflows present a picture of a market undergoing structural positioning rather than widespread exit activity. While the short-term price trend reflects a pullback from recent highs, the simultaneous withdrawal of supply and steady long-term holder confidence could act as foundational elements for potential future growth. Featured image created with DALL-E, Chart from TradingView

Magic Eden, a non-fungible token (NFT) marketplace, has announced a partnership with the team behind President Donald Trump’s memecoin to create an official “TRUMP-branded cryptocurrency wallet.”  This new product, aptly named the TRUMP Wallet, will not only feature Trump’s likeness and name but will also support trading of the TRUMP token alongside other digital assets, including Bitcoin (BTC). TRUMP Wallet Opens Waitlist Amid Controversy  The waitlist for the TRUMP Wallet opened on Tuesday at TrumpWallet.com, with a broader launch expected later this summer, as confirmed by a spokesperson from Magic Eden.  In a promotional push, the project is being marketed as “the first and only crypto wallet for true Trump fans,” enticing users with the opportunity to share in $1 million worth of the memecoin rewards. Those who sign up and refer friends will be able to enhance their position on the waitlist. Related Reading: Crypto Analyst Says XRP Community Should Pay Attention To June 4-6, Here’s Why Interestingly, Eric Trump, who has been involved in various cryptocurrency initiatives linked to his father, expressed surprise at the project. He took to social media platform X (formerly Twitter) to assert, “I run @Trump and I know nothing about this project!” In a follow up social media post, Eric further said: This project is not authorized by @Trump. @MagicEden I would be extremely careful using our name in a project that has not been approved and is unknown to anyone in our organization.  KYC Details Still Unclear The announcement was shared by the official TrumpMeme account, but further details about the partnership, including terms of revenue-sharing and potential Know Your Customer (KYC) requirements for users, remain unclear.  This initiative is part of a larger strategy to boost engagement in Trump-related cryptocurrency ventures, which have been gaining momentum in recent months.  The Presidential family’s expanding crypto portfolio already encompasses a variety of digital assets, including non-fungible tokens, a stablecoin, a decentralized finance platform with its own virtual token, and memecoins named after both Donald Trump and the First Lady. Related Reading: Is $250K Bitcoin Possible This Year? This Research Chief Thinks So Magic Eden’s CEO recently attended a fundraiser dinner hosted by Trump for previous winners of a TRUMP coin contest, further solidifying the ties between the two entities. It appears that the TRUMP Wallet will be built on the Slingshot Finance platform, a self-custodial trading application acquired by Magic Eden in April.  Slingshot is known for featuring various meme tokens, such as Bonk Inu (BONK) and Fartcoin (FARTCOIN), and does not directly collect user identity information; instead, this is managed by MoonPay, the app’s fiat on-ramp provider. When writing, the official memecoin launched by the President’s team trades at $11, recording losses of 12% and 21% on the seven and fourteen days time frame respectively.  Featured image from NBC, chart from TradingView.com