The BTC rally kept quiet in 105k as the analyst said the market looked ‘super hot’
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Bitcoin
is the trading above $ 105k as Asia begins the business week. The world’s largest digital assets remained relatively stable at the weekend, with a 0.4%movement, and the trading volume was compressing.
While general market conditions remain bullish, A new report from the cryptoquant suggests That some metrics indicate that the BTC market is “super hot.”
The report shows that Bitcoin’s demand has risen to 229,000 BTC over the past 30 days, approaching the climax of December 2024 of 279,000 BTC. At the same time, the balances held by the whale increased by 2.8 percent, a speed that often indicated the slowing of accumulation.
These indicators suggest the current rally, which pushed prices to a record of $ 112,000, could be near a short -term top.
The report features $ 120,000 as the next major resistance level, tied to the upper on-chain band of entrepreneurs who realized the price, where the uncertain income will hit 40 percent, a historical threshold marked the local tops.
While the “Bull Score Index” of the cryptoquant remains strong at 80, the signing of the ongoing bullish momentum, increasing revenue margins, and the growth of demand demand can deal with entrepreneurs can face a period of integration before the next leg higher.
News Roundup:
James Wynn gets a liquid, but says ‘he’ll run everything’
James Wynn, a businessman known for his aggressive, high-leverage bet on Hyperliquid, was completely liquid, leaving him only $ 23 on his account after maintaining losses worth more than $ 17 million, CoinDesk had earlier reported.
Wynn, who attracts significant attention to trading involving bitcoin, memecoins such as Pepe, and even non -obscure tokens such as Fartcoin, first faced with steep decline from a massive $ 1.25 billion long position at BTC, resulting in a loss of exceeding $ 37 million after price geopolitical turmoil.
Throughout the Moon’s Pabagu, Wynn quickly concluded through the trading, briefly netting an undeniable benefit of $ 85 million before market swings had wiped her off completely. An account associated with Wynn lowered the dramatic extermination, with no stop telling X: “I’ll run back, I always do. And I enjoy doing it. I want to play the game. I get a big and calculated choice in making billions -billions.”
Brazil’s Méliz sharing is sinking 8% after announcing $ 78m increasing equity to buy Bitcoin
Brazilian Fintech Méliz plans to raise up to $ 78 million through a public equity offer, planning to allocate all proceeds to buy bitcoin and cryptocurrency positions as a major strategic owner in its treasurery, CoinDesk had previously reported.
However, Méliz’s approach has not been impressed with the market, as shares dropped more than 8% following the announcement. The initial offer includes 17 million common shares, with potentially expanding up to 51 million, and investors will receive subscription warrants that allow future stock purchases at the appointed prices.
Known on the cashback and financial service platform that serves more than 30 million users, Méliz is currently holding 320.2 BTC, which previously made 10% of its cash reserves in Bitcoin in March. Trade for subscription warrants is expected to begin on June 16, with sharing and warrant issuance that will be finalized on June 18.
NYC Comptroller has denied mayor Adams’ ‘Bitbond’, warning the deviation from the dollar may disturb the city’s reputation
New York City Comptroller Brad Lander has strongly criticized Mayor Eric Adams’ plan to issue bonds in the municipality supported by Bitcoin, labeled the proposed “bitbond” as “legal weakness and no responsibility,” CoinDesk had earlier reported.
Lander rejected the idea just days after Adams introduced it to a Bitcoin conference in Las Vegas, emphasizing that the inconsistencies of cryptocurrency were not appropriate to reliably fund critical projects in the city such as infrastructure and affordable housing.
Mayor Adams has actively promoted cryptocurrency initiatives from entering the office, along with converting his own salaries to digital assets and establishing a digital asset advisory council.
However, the Comptroller Lander highlighted serious practical concerns in the Bitbond proposal, which noticing the federal tax laws and city financial regulations would make a proposal that could not be done, and warned that deviation from the borrowing system-based dollar-based borrowing system and the dollar-based reputation of New York City credit.
Market Movements:
- BTC: Bitcoin showed, setting a V -shaped recovery between $ 103,813.37 and $ 105,305.75 amid known volume spikes.
- Eth: The Ethereum has formed a reversal pattern of bullish, which returns from strong support to $ 2,472.84 to $ 2,527.53 in the middle of the high-purchase momentum purchase, according to CoinDesk’s Insight Bot Bot.
- Gold: The gold rose 0.6% to $ 3,311.66, as businessmen weighed its recent backdown from record highs against ongoing investors and central banks driven by uncertainty in US tariffs and greater economic risks.
- NIKKEI 225: Japan’s Nikkei 225 dropped 0.89% while Asian-Pacific markets exchanged mixed following Trump’s announcement of rising steel tariffs.
- S&P 500 Futures: Stock futures have sunk on Sunday to start June after the strongest S&P 500 months since November 2023, amid the uncertainty of President Trump’s tariffs following recent conflicting court decisions.
