$BTC Here's a sharp, up-to-date breakdown on **Bitcoin (BTC)** as of **June 2025** — covering essentials, trends, and critical context:

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### ⚡ **Bitcoin Fast Facts**

- **Price**: ~$67,200 (24h: **+1.8%**)

- **Market Cap**: $1.32T (#1 crypto, ~53% dominance)

- **Supply**: 19.72M BTC mined (cap: 21M)

- **Next Halving**: ~April 2028 (block reward ↓ to 1.5625 BTC)

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### 🔥 **2024-2025 Key Developments**

1. **Spot ETFs Dominate**:

- BlackRock, Fidelity ETFs hold **$62B+ BTC** collectively.

- Daily inflows avg. $200M — institutional adoption cemented.

2. **Ordinals Boom 2.0**:

- Bitcoin NFTs surge again (2025 sales: **$4B+**).

- Runes Protocol fuels new token experiments on BTC.

3. **Miner Shakeup**:

- Post-2024 halving: inefficient miners collapsed.

- Public miners (RIOT, MARA) now control 28% of hash rate.

4. **Layer-2 Explosion**:

- Lightning Network: **$360M+** capacity (↑82% YoY).

- Stacks, Rootstock drive DeFi on Bitcoin (TVL: $1.1B).

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### 📈 **Bull Case vs. Bear Case**

| **Bull Argument** 🐂 | **Bear Argument** 🐻 |

|----------------------|-----------------------|

| → **Digital Gold 2.0**: Global reserve asset status growing | → **Scalability Limits**: High fees during congestion |

| → **Institutional Anchor**: ETFs = gateway for trillions | → **Competition**: ETH, SOL capture DeFi/NFT innovation |

| → **Geopolitical Hedge**: Adoption spikes in currency-crisis nations (Turkey, Argentina) | → **Regulatory Risk**: US/UK pushing for stricter KYC on-chain |

| → **Programmability Leap**: BitVM, OP_CAT upgrades unlocking smart contracts | → **Energy FUD Persists**: Green mining still a PR battle |

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### 🌍 **Global Adoption Snapshot**

- **El Salvador**: 2,381 BTC held (national treasury) + Volcano bonds live.

- **US**: 52M holders (15% population) — ETFs now in 401(k)s.

- **Asia P2P Surge**: Vietnam, Philippines lead grassroots usage.

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### ⚠️ **Critical Risks to Watch