Bitcoin’s record high fueled gains in equity markets too.
The European Securities and Markets Authority (ESMA) has raised red flags over Malta’s handling of license approvals under the EU’s Markets in Crypto-Assets (MiCA) regulation. In a peer review report released on July 10, ESMA highlighted deficiencies in how the Malta Financial Services Authority (MFSA) approved a recent crypto asset service provider (CASP), urging tighter […]
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Grayscale is challenging the SEC's s decision to put a pause on its multi-crypto fund and says investors are "suffering harm."
SharpLink bought 10,000 ETH from the Ethereum Foundation for $25.7 million, expanding its treasury value to over $558 million.
Running a Lightning Network node in 2025 can generate passive Bitcoin income, but success depends on capital, uptime and dynamic fee strategies.
Solana-based memecoin platform Pump.fun is preparing for what could become one of the largest token sales in crypto history. The project aims to raise $1.32 billion through its upcoming PUMP token offering, potentially securing the third spot among the highest-ever fundraising events in the industry. According to data from Cryptorank, Pump.fun’s fundraising goal would put […]
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Bitcoin hit new all-time highs above $118,000 as investors tap the cryptocurrency as a hedge against U.S. fiscal expansion, a Nansen analysts said.
Bitcoin's bullish momentum may face potential resistance at the $120,000 level.
A sweeping new research report by Ben Harvey and Will Clemente III, commissioned by market maker Keyrock, projects that Bitcoin could reach $160,000 by the end of 2025—but only if the capital structure supporting Bitcoin Treasury Companies (BTC-TCs) remains intact. The research, “BTC Treasuries Uncovered: Premiums, Leverage, and the Sustainability of Proxy Exposure,” dissects the capital structures, market impact, and debt profiles of the fast-growing cohort of “Bitcoin Treasury Companies” (BTC-TCs), led by Strategy (the renamed MicroStrategy). The Impact Of Bitcoin Treasury Firms Harvey and Clemente open with a startling figure: “Bitcoin Treasury Companies have accumulated around 725,000 BTC, equivalent to 3.64 percent of the entire BTC supply.” Much of that hoard sits with Strategy’s 597,000-coin trove, but the analysts track more than a dozen follow-on players—from Marathon Digital and Metaplanet to newer entrants such as Twenty One Capital—whose combined exposure now outstrips US spot-ETF holdings by more than half. Related Reading: Bitcoin Is One Candle Away From $141,300 Breakout, Chart Master Warns Yet the report’s headline forecast is explicitly conditional. Keyrock’s bull case assigns a thirty-percent probability that global liquidity remains flush, institutional demand accelerates, and Bitcoin rallies fifty percent past today’s levels, “pushing BTC to over $160 k by EOY.” That outcome rests on the fragile flywheel of net-asset-value premiums: BTC-TC equities still trade, on average, at a seventy-three-percent premium to the dollar value of the coins they custody. Those premiums let boards issue new shares “accretively,” convert sentiment into fresh BTC, and—crucially—service the $33.7 billion in debt and preferred stock the sector has rung up to fund its buying binge. No company illustrates the reflexive loop better than Strategy. Since August 2020, Michael Saylor has driven Bitcoin-per-share (BPS) up eleven-fold, an annualized sixty-three-percent run rate that dwarfs the 6.7 percent CAGR needed to justify the firm’s current ninety-one-percent NAV premium. “If an investor believes that Strategy’s BPS growth rates will hold long-term,” the authors contend, “holding MSTR would be far more beneficial in BTC terms than holding spot BTC.” Still, that calculus assumes the equity premium stays afloat; if sentiment turns, dilution flips from accretive to punitive overnight. Debt maturities pose the next stress point. BTC-TCs owe a wall of convertible notes in 2027-28. Harvey and Clemente calculate that Strategy alone has issued $8.2 billion of the cohort’s $9.5 billion in debt; Marathon follows at $1.3 billion. Most instruments carry zero-to-low coupons and conversion prices well below current share levels, but a deep Bitcoin drawdown could drive equities under those strikes, forcing firms to repay in cash or refinance at far harsher terms. “Since many BTC-TC valuations are tightly correlated to Bitcoin price performance,” the authors warn, “a sharp BTC drawdown could drive down equity value, increasing the risk that conversion thresholds are breached.” Related Reading: Last Time This Happened, Bitcoin Jumped $50,000—Is History Repeating? The report splits the universe into cash-flow-generative names such as Metaplanet, CoinShares, and Boyaa Interactive—each with eight or more quarters of runway—and capital-dependent players like Marathon, Nakamoto, and DeFi Technologies, which could face dilution above three percent per quarter merely to stay solvent if premiums persist. Should those premiums compress, equity issuance “becomes purely dilutive,” and treasury companies could be forced to sell Bitcoin, undermining the proxy thesis that justifies their existence. The Base Case Keyrock’s base case, to which it assigns the highest probability, envisions Bitcoin finishing 2025 around $135,000, with NAV premiums cooling into a thirty-to-sixty-percent range. In that environment, well-managed treasuries still out-perform spot, but the leverage trade loses its shine. The bear scenario—assigned the lowest but non-trivial odds—combines a twenty-percent Bitcoin drawdown with a glut of new treasury listings that flood the market with supply. In that world, premiums vanish, refinancing windows slam shut, and “the entire investment case for BTC-TCs comes under pressure.” Harvey and Clemente do not dismiss the BTC-TC model; rather, they frame it as a high-beta overlay that amplifies both the upside and the solvency risk inherent in Bitcoin itself. They credit Saylor’s “Bitcoin yield” thesis—using premium-funded share issuance to compound coin holdings—as a demonstrably effective strategy to date, but caution that it relies on a delicate equilibrium of bullish sentiment, cheap capital, and meticulous execution. “The premium to NAV is of the utmost importance here,” the study concludes, “assuming a BTC-TC doesn’t have a core operating business that can cover debt payments, or is entirely free of debt payments altogether.” Whether Bitcoin can sprint to $160,000 by 31 December hinges less on hash-rate projections or macro modeling than on the continued faith of equity investors willing to pay a dollar-fifty for a dollar of embedded BTC. If those investors blink—if premiums fade or convertible maturities collide with a broad risk-off shift—the leverage that has propelled treasury companies to date could flip, turning “one of the best performing equities on the planet” into the market’s most crowded exit. For now, Keyrock’s research leaves readers with a simple countdown: hold the line, and the path to price discovery remains intact; lose it, and the proxy trade could unwind long before the New Year’s fireworks. At press time, BTC traded at $117,788. Featured image created with DALL.E, chart from TradingView.com
Bitcoin broke above $118,000, but key resistance levels remain across other assets.
The company’s stock has soared 13,350% since launching its bitcoin treasury strategy in April as it closes in on the top 25 public holders.
Bitcoin surged to a new all-time high against the US dollar on July 10, hitting $111,683 on Binance before closing the day even higher at $115,244. The breakout marked another milestone for dollar-based investors in Bitcoin’s 2025 bull cycle. But while the headlines celebrated a fresh record, BTC told a different story when priced in […]
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BlackRock’s Bitcoin and Ether funds were the biggest beneficiaries of Thursday’s net inflows.
Japanese real estate investment company Gates Inc. has announced a large-scale tokenization project of $75 million. Gates aims to tokenize income-generating properties in Central Tokyo using the Oasys blockchain to make it easier for foreigners to gain access to the Japanese real estate market. Gates and Oasys Collaborate to Expand Tokenization in Japan Oasys, a …
XRP looks bullish right now. In the last seven days, the token has surged by 15.7%, with a 7% gain in the past 24 hours alone, pushing its price to $2.59. This upward momentum is turning heads across the crypto market, with analysts now hinting that $3 could be the next major target. CasiTrades, a …
Tasmanian police said they found victims were being directed to crypto ATMs by scammers after regular financial institutions flagged the transactions.
The crypto market has staged a powerful rally today, with the total market cap climbing over 5.24% in the past 24 hours to $3.65 trillion. Trading volumes exploded by 47.14%, reaching a staggering $208.23 billion, signaling massive participation behind the move. While the Fear & Greed Index holds at a neutral 67, momentum is clearly …
The Bitcoin open interest has risen rapidly once again, with the price pushing above previous peaks to new all-time highs. The BTC price has also stayed over the $100,000 mark for an extended period of time, triggering a new wave of confidence that the cryptocurrency has found its bottom. This has led to crypto traders making their bets and driving the open interest up, pushing it back above December 2024 levels and May 2025 peaks. Bitcoin Open Interest Crosses $70 Billion Again Back in December 2024, the Bitcoin open interest had recorded a new milestone after the volume rose to over $70 billion, marking a new all-time high at the time. The Bitcoin price had also risen sharply at this time and was able to hit $100,000 for the first time in history, triggering even more interest in the asset. Related Reading: Last Crash Before The Surge: Why Bitcoin Is Set To Drop Below $107,000 However, once both the price and the open interest hit these milestones, it wasn’t long before the shorters began to take over the market. The Bitcoin price quickly plummeted back down below $100,000, and over the next few months, open interest would crash back down to the $40 billion territory, resulting in a 40% loss by May 2025. Now, once again, the Bitcoin open interest has crossed the $70 billion mark, sitting close to the $77 billion peak recorded back in May 2025, data from Coinglass shows. In the same vein, the BTC price has been able to maintain above $100,000 and has hit a new all-time high of $117,000. Going by historical performance, it is likely that the Bitcoin price will continue to rise from here, but this break to new all-time highs could carry bearish implications. This is because it is possible that the trend from December 2024 could play out once again. If this happens, then the Bitcoin price could retrace after hitting new highs, an expected correction as shorts pile up. BTC Price Risks Another Crash As the Bitcoin open interest continues to rise and the price has already broken out to new highs, the expectations of a downtrend have become stronger. NewsBTC reported that crypto analyst FriendlyRox expects the Bitcoin price to crash by almost 50%, putting the target as low as $60,000 by the time it’s done. Related Reading: Pundit Says XRP’s Rise To $1,000 Will Happen A Lot Sooner Than Anticipated Crypto analyst and market expert Capo of Crypto has also joined the train, predicting a notable crash event that will send Bitcoin below $100,000 and obliterating altcoins in the process. This comes as institutions are piling into the crypto market, with Bitcoin in the lead, and Capo forecasts a possible ‘Black Swan’ event like the COVID crash. Featured image from Dall.E, chart from TradingView.com
Hayden Davis wants a New York lawsuit against him dismissed, arguing the LIBRA token was offered worldwide and didn’t specifically target the state or its residents.
“The BTC breakout marks a regime shift, and we expect altcoin dispersion to rise from here,” one trader said, with several trading desks expecting higher moves in major tokens.
The Midas Project has filed a complaint with the IRS against OpenAI, alleging that CEO Sam Altman’s dual roles create conflicts violating nonprofit tax rules.
After weeks of slow movement, Pi Coin has finally shown some strength, jumping 11% in just 24 hours and moving above the $0.52 mark. While Bitcoin’s fresh all-time high helped, there’s more to this rally than just market momentum. According to popular crypto analyst Dr Altcoin, Pi may have already hit its lowest price, and …
Bitcoin's recent bull run has been characterized by steady price increases and declining volatility, aligning more with traditional financial markets.
China is showing fresh signs of interest in digital currencies. Although crypto is banned, the interest hasn’t faded. From regulators to tech giants, enthusiasm for digital currencies, especially stablecoins, is heating up fast. A recent report from Reuters shows that Chinese regulators are renewing their focus on the sector. Shanghai Officials Explore Stablecoin Strategy This …
The integration with Pump.fun could improve existing product features but also lay the groundwork for new trading experiences built around transparency, gamification, and social investing.
In the past 24 hours, more than $1 billion in crypto short positions were liquidated, according to data from Coinglass. The bulk of these liquidations came from traders betting against Bitcoin, just as the market saw another strong push upward, driven in part by continued ETF inflows and a supportive macro backdrop. Short positions worth …
In the 5th iteration of the Diva campaign, it is anticipated to provide cash transfers to pastoral communities in Kenya ahead of the drought through digital currencies. The campaign partnered with Ripple to utilize its new stablecoin, RLUSD concluded successfully. It impacted 517 pastoralists, with a notable proportion of 70% being women, highlighting a strong …
ETH has surpassed the $3,000 level for the first time in five months as new bitcoin all-time highs breathe fresh life into the crypto market.
Florida's AG said Robinhood's payment-for-order-flow model may mislead users by hiding true crypto costs behind marketing claims.
Solana has shown a potential breakout from a Symmetrical Triangle. Here’s where the next price target could lie, according to an analyst. Solana Has Surged Above Symmetrical Triangle Resistance In a new post on X, analyst Ali Martinez has talked about how Solana has just broken a resistance line. The level in question is part of a Symmetrical Triangle, a pattern from technical analysis (TA). This pattern belongs to the class of triangles, formations that involve the asset trading within two converging trendlines. The upper line acts as a source of resistance, while the lower one as that of support. A break out of either of these levels implies a continuation of trend in that direction. A surge above the triangle is a bullish sign and a drop under it a bearish one. Since the price’s range becomes narrower as it travels within a triangle, a breakout can become more likely as it approaches the apex. Related Reading: Bitcoin Breakout Not Just Hype—$4.4B Inflows Back The Move Generally, triangle breakouts are considered to be of the same length as the height of the formation (that is, the distance between the upper and lower trendlines at their widest). There are three popular triangle types: Ascending, Descending, and Symmetrical. The first and second variants have one trendline parallel to the time-axis. In the case of the Ascending type, it’s the upper level. This means that as Solana moves inside an Ascending Triangle, its range gets narrower toward a net upside. Similarly, the Descending Triangle involves the opposite setup, with the support line being parallel to the time-axis instead. The third type, the Symmetrical Triangle, is the middle ground between the two: it has the two trendlines approaching each other at a roughly equal and opposite slope. In other words, the Symmetrical Triangle represents a period of consolidation where the range gets narrower in true sideways fashion. Due to this fact, a breakout is more-or-less equally probable to occur in either direction. In contrast, there is a bias associated in Ascending and Descending Triangles. Now, here is the chart shared by Martinez that shows the Symmetrical Triangle Solana was trading inside just earlier: As is visible in the above graph, the Solana price was nearing in on the end of the triangle and as probability would dictate, a breakout was becoming likely. The asset indeed ended up finding a break and it seems to have been in the up direction. Related Reading: Bitcoin Moving With Stocks, But Ethereum’s Correlation Is Fading So what could be next for SOL? According to the analyst, the asset might target $164. This level corresponds to the 1.272 Fibonacci Extension line. Fibonacci Extension levels are defined based on ratios found in the popular Fibonacci series. The 1.272 level, in particular, corresponds to the square root of 1.618, which is the famous ‘Golden Ratio.’ SOL Price At the time of writing, Solana is floating around $158, up 3% in the last 24 hours. Featured image from Dall-E, charts from TradingView.com