Here’s the latest on Bitcoin ($BTC ) as of May 13, 2025:
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📉 Market Snapshot
Current Price: $104,012 #USDT
24h Change: +0.99%
Day’s Range: $101,065 – $104,159
Bitcoin experienced a dip below $102,400 earlier today due to profit-taking ahead of upcoming U.S. inflation data, reflecting broader market caution. Despite a brief rally to $105,500 following a U.S.-China tariff pause, the price quickly retraced, indicating investor hesitation.
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📰 Key Developments
Institutional Accumulation: Coinbase reported a $1 billion Bitcoin outflow in a single day, signaling strong institutional buying and potential supply constraints.
Record Illiquid Supply: The amount of Bitcoin held in illiquid wallets has reached 14 million BTC, suggesting long-term holders are accumulating and reducing market liquidity.
Regulatory Movements:
Missouri: A proposed bill aims to eliminate capital gains tax on Bitcoin transactions, potentially making it the first U.S. state to do so.
Arizona: Governor Katie Hobbs vetoed two crypto-related bills but approved stricter regulations on Bitcoin ATMs to enhance consumer protection.
Strategic Reserves: President Trump signed an executive order establishing a U.S. Strategic Bitcoin Reserve, utilizing forfeited assets to bolster national holdings.
Bold Predictions: Venture capitalist Tim Draper predicts Bitcoin will replace the U.S. dollar within a decade, citing its decentralized nature and technological advancements.
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📈 Institutional Adoption
London has launched its first regulated cryptocurrency derivatives trading platform, GFO-X, offering Bitcoin index futures and options. This development marks a significant step in mainstream financial integration of digital assets. $BTC
