The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
The Bitcoin price crash is in focus following the flagship crypto’s recent drop to as low as $103,700. Crypto analyst Captain Faibik has commented on why $107,500 and $103,500 are the most important levels to watch as BTC looks to decide its next move. Why $107,500 & $103,500 Are Key For The Bitcoin Price In an X post, Captain Faibik explained that $107,500 and $103,500 are key as the bulls and bears battle to dictate the next move for the Bitcoin price. The analyst noted that later this week, BTC bulls will attempt to reclaim the $107,500 resistance and regain momentum. Related Reading: Bitcoin Price Risks Break Down To $92,000 As It Enters Accumulation Phase He predicted that a clean break and hold above $107,500 could trigger a bullish leg toward the $117,000 level, which would mark a new all-time high (ATH) for the flagship crypto. Meanwhile, on the other hand, $103,500 is an important support level which the bulls must defend as the Bitcoin price eyes new highs. Captain Faibik warned that a breakdown below could shift momentum back in favor of the bears. The Bitcoin price had surged above $106,000 on May 2 following news about the US decision to extend its pause of tariffs on some Chinese goods to August. This provided a bullish outlook for the flagship crypto after Donald Trump stated last week that China had violated the trade deal with the US. Trump and China’s president are set to have a call later this week, which could further boost the Bitcoin price if both sides could resolve any dispute regarding the current trade deal. Meanwhile, Fed Chair Jerome Powell failed to discuss the economy during his speech at the International Finance Division Anniversary Conference, which also continues to fuel market uncertainty. First Step For BTC Is To Get Back Above $106,500 In an X post, crypto analyst Kevin Capital indicated that the first step is for the Bitcoin price to successfully reclaim $106,500. He noted that BTC had recorded a weekly close below this level, which puts the flagship crypto back in the danger zone. The analyst further remarked that BTC needs to get back above this level in the coming days or things can get “sketchy looking.” Kevin Capital added that this has been a key level for months, and nothing has changed. Related Reading: Bitcoin Rise To $111,000 ATH Doesn’t Mean The Market Is Bullish, Certified Expert Says Meanwhile, crypto analyst Titan of Crypto revealed that a Katana is forming on the weekly chart for the Bitcoin price. He explained that in Ichimoku analysis, a Katana forms when Tenkan and Kijun overlap. This signals low momentum and market equilibrium. He added that this development also precedes strong directional moves, with an expansion or pullback on the horizon. At the time of writing, the Bitcoin price is trading at around $105,435, up in the last 24 hours, according to data from CoinMarketCap. Featured image from Getty Images, chart from Tradingview.com
K33 also announced an initial purchase of 10 BTC ($1 million) on Tuesday after raising $6.2 million to launch its bitcoin treasury strategy.
The acquisition helps Robinhood expand outside the U.S., accessing Bitstamp's customers across the EU, UK, and Asia.
Jamie Raskin, the ranking Democrat on the House panel overseeing the legal system, asked the president to produce the guest list of his private event.
The crypto market wobbled after Trump accused China of violating a tariff truce.
The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
In an interview with CoinDesk, Fastex’s chief legal officer said that the crypto regulatory shift under President Donald Trump has made it possible for the exchange to expand in the U.S.
Ulbricht was sentenced to double life imprisonment without parole for operating Silk Road, and was pardoned by President Trump this year.
The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
Samson Mow, a Bitcoin expert and the Chief Executive Officer (CEO) of JAN3, a BTC-focused infrastructure firm, has shared a striking take on the current valuation of the flagship cryptocurrency. According to Mow, Bitcoin is still far from its full potential and, in his view, should already be priced at $10 million per coin. Why Bitcoin Is Not Worth $10 Million Yet In a recent post on X (formerly Twitter), Mow stated, “If the world understood Bitcoin, we would be at $10 million a coin now.” This comment reflects his belief that Bitcoin’s true value is heavily undervalued and underestimated. Related Reading: Massive $200 Million Sell Wall Holds Bitcoin At $111,000 And $113,000 – Here’s What We Know For Mow, BTC is more than just a coin to trade; it is a revolutionary asset that could shake up the foundations of the current financial system. With its capped supply, decentralized nature, and consistently growing value, many even believe that BTC has the potential to act as a global reserve currency. Yet despite growing adoption and visibility, Mow argues that most people in the world, including institutions, policymakers, and retailers, still do not fully comprehend Bitcoin and its implications. According to the JAN3 CEO, this knowledge gap is what is holding Bitcoin back from achieving the massive price surge that he and many other long-term advocates anticipate. While the $10 million mark remains speculative for now, Mow’s remarks reflect a wider sentiment among Bitcoin enthusiasts who see the current price as just the beginning. For example, top Bitcoin supporters and investors like Michael J. Saylor, the founder of MicroStrategy, have shared similar views, predicting an explosive rise in Bitcoin’s value to $10 million by 2035. Likewise, Matt Hougan, Bitwise’s Chief Investment Officer (CIO), has voiced strong confidence in Bitcoin reaching the $1 million mark. He believes this milestone could realistically be achieved within the next five years. Demand For BTC Surges Among Institutions And The Wealthy With the growing belief that the Bitcoin price will only continue to rise in the long term, social media reports indicate a significant surge in interest and demand among financial institutions and the wealthy. Notably, Saylor, one of the biggest advocates for Bitcoin, has long been accumulating the cryptocurrency in hundreds of thousands. Related Reading: Is The Bitcoin Rally Over After $111,900 ATH? Global M2 Money Supply Is Still Going Donald Trump, the United States (US) President, has also been a public supporter of Bitcoin, with reports revealing that he is actively buying the flagship cryptocurrency. Even investing legend and hedge fund manager Hugh Henry disclosed earlier this month that he intends to sell his $35 million house to buy $10 million worth of Bitcoin. Binance CEO Richard Teng also announced that the wealthy are showing significant interest in the leading cryptocurrency. He revealed that sovereign funds and high-net-worth individuals are now purchasing BTC like never before. This growing accumulation by institutions and the rich signals strong confidence in BTC’s long-term value and sustainability. Featured image from Getty Images, chart from Tradingview.com
The agency had once called for retirement-plan officials to exercise "extreme care" over crypto investments, but it's now withdrawn that elevated concern.
The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
Trump Media (TMTG) announced that it has successfully raised $2.5 billion from institutional investors, marking one of the largest allocations of Bitcoin treasury assets by a public company. However, the announcement was met with a mixed market response, as shares of Trump Media closed 10% lower on the same day. Trump Media Secures $2.5 Billion For Bitcoin Treasury The substantial funding includes $1.5 billion in common stock and $1 billion in convertible notes, with the proceeds designated for the purchase of bitcoin, which will now be a core asset in the company’s treasury. Trump Media confirmed that it has secured subscription agreements with approximately 50 institutional investors to facilitate this ambitious endeavor. Related Reading: On The Verge: Strategy’s Recent Purchase Positions Total Bitcoin Holdings Near 600,000 To manage these digital assets, the company will store its Bitcoin with Anchorage Digital and Crypto.com—platforms that recently collaborated with Trump Media to launch its first exchange-traded funds (ETFs). This announcement comes as BTC retraces from its recent record highs, coinciding with the Bitcoin 2025 conference on the Las Vegas Strip, which has highlighted President Donald Trump’s emerging identity as the nation’s first “crypto president.” Despite the excitement surrounding the IPO, Trump Media’s stock remains volatile, experiencing nearly a 30% decline this year. The company currently holds a market capitalization of about $5.3 billion, contrasted with reported revenues of just $3.6 million and a loss of $400 million in 2024. BTC As An ‘Apex Instrument’ Devin Nunes, CEO of Trump Media and former congressman, referred to BTC as an “apex instrument of financial freedom.” He framed this move as a necessary defense against what he described as “systemic discrimination” from financial institutions toward conservative businesses. In addition to this treasury initiative, Trump Media has partnered with Crypto.com to launch a series of ETFs and digital asset products, pending regulatory approval. These funds will include baskets of cryptocurrencies like Bitcoin and Crypto.com’s native token, Cronos (CRO). The offerings will be branded under the Trump Media name and made available to global investors through major brokerage platforms and the Crypto.com app, which boasts over 140 million users. Related Reading: Ethereum Nears Critical Price Level – Reclaiming $3,000 Would Spark A Market-Wide Rally The $2.5 billion BTC treasury initiative also follows a broader trend among politically aligned businesses converting their corporate treasuries to Bitcoin-heavy portfolios. Additionally, figures like Jack Mallers are emerging to rival established players, backed by significant investment from Tether and SoftBank. David Bailey, another major player in Trump-linked BTC initiatives, recently led a $710 million merger with KindlyMD, shifting the company’s focus from holistic opioid recovery to a crypto-first strategy. Bailey, a trusted advisor to the Trump administration, described this approach as “Strategy, squared,” emphasizing a commitment to increasing the BTC holdings per share. Featured image from DALL-E, chart from TradingView.com
Discussing the policies already enacted by the Trump administration, Sacks also claimed it could achieve its crypto agenda by August.
While Strategy continues to aggressively acquire bitcoin, the pace of its buys has been slowing in recent weeks.
Trump Media & Technology Group (TMTG), a company backed by US President Donald Trump, has announced plans to raise $2.5 billion through a mix of stock and convertible note offerings to purchase Bitcoin, according to a May 27 statement. This planned purchase would help the firm reach the top 10 corporate Bitcoin holders globally. Strategy (formerly […]
The post Trump Media aims for top 10 corporate Bitcoin holder spot with $2.5B investment plan appeared first on CryptoSlate.
The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
With the move, the operator of Truth Social is joining a growing roster of publicly-traded firms to raise capital for buying crypto assets like bitcoin.
The capital raise would see the Trump-linked firm joining a slew of public companies following the playbook of Michael Saylor's Strategy.
The Financial Times, citing six anonymous sources, said Trump's media group plans to raise and invest $3 billion into bitcoin and cryptocurrencies.
Though the U.S. stablecoin bill is widely expected to clear its biggest hurdle soon, Trump's crypto interests will be targeted with an attempted amendment.
The leverage flush happened as crypto prices quickly dropped on renewed trade war fears, with BTC slipping 3% from near record highs.
The president Friday morning threatened an imminent 50% tariff on all EU imports as well as a 25% levy on imported Apple iPhones.
Tron's Sun sees the President fueling a new American crypto boom.
Democratic lawmakers went through a flurry of actions to highlight concerns that Donald Trump's memecoin dinner is "corrupt."
Sun, a Chinese-born crypto billionaire, is also involved with the Trump-linked ecosystem through a $75 million investment in World Liberty Financial.
The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
The token had a market cap of just $40 million before the purchase.
Sacks did not directly respond to concerns that the legislation could benefit President Trump but emphasized the bill's bipartisan support.