Bitcoin (BTC) price action picked up during the ongoing session, with the flagship cryptocurrency up nearly 1% as buyers attempted to cross the crucial $110,000 mark.
BTC started the week in the red, dropping nearly 1% on Monday before recovering on Tuesday, rising from a low of $107,446 to $108,938. The price is up almost 1% during the ongoing session, trading around $109,516.
Remixpoint Moves To Align CEO With Bitcoin Strategy
Remixpoint has announced that new CEO Takashi Tashiro will be paid in Bitcoin as part of efforts to be “in the same boat” as shareholders. The company said it will calculate Tashiro’s salary and taxes, purchase the equivalent amount in BTC, and transfer it to a wallet Tashiro chooses. According to the company, the move is part of a “shareholder-oriented management.”
“The remuneration in this case will be paid in Japanese yen in format based on the appropriate organization of the Company Act and taxation. On top of that, we plan to acquire Bitcoin (BTC) equivalent to the same amount at the market price with Japanese yen, which is equivalent to the full amount of the payment, and deliver it to the crypto asset wallet designated by the President and CEO.”
Tashiro took over as Remixpoint CEO in June, stating the firm will put BTC at the heart of its financial strategy.
H100 Raises $54 Million For Bitcoin Treasury
H100 Group AB, a Swedish health-tech firm focusing on AI-driven health solutions, has closed two key funding rounds, raising $54 million. The firm raised capital via a directed share issue (Tranche 6, issuing 27.17 million shares at SEK 6.38), and a directed convertible debenture issue (Tranche 7, SEK 342.3 million. The directed share issue diluted existing shareholders by around 10%. However, if all convertible shares from Tranche 7 are converted, it could cause an additional dilution of around 14%. The company plans to use the funds for its Bitcoin treasury strategy.
The funding comes after H100 secured a $15.82 million convertible loan guarantee from Blockstream CEO Adam Beck to help accelerate its planned Bitcoin acquisitions. This followed a $2.2 million raise in May, also led by Beck. Other investors in this round included Crafoord Capital Partners and Morten Klein.
Bitcoin (BTC) Price Analysis
Bitcoin (BTC) is up almost 1% during the ongoing session as buyers eye a move past $110,000. The flagship cryptocurrency ended the weekend positively, rising nearly 1% on Sunday to settle at $109,231. Despite the positive close to the weekend, BTC lost momentum on Monday, dropping 0.88% and settling at $108,273. It fell to a low of $107,446 on Tuesday but rebounded, rising 0.61% to reclaim $108,000 and settle at $108,938 before reclaiming $109,000 during the ongoing session.
With momentum building, traders are optimistic about a move to $110,000. However, blockchain analytics platform Santiment has warned that optimism isn’t always a positive sign. Santiment analyst Brian Quinlivan stated,
“It’s pretty clear that the crowd is starting to salivate over a potential $110K+ Bitcoin market value.”
Santiment analyzed social media chatter about Bitcoin and found that for every bearish comment for the flagship cryptocurrency, there were 1.51 bullish comments. Santiment based its findings on data from several platforms, including X, Reddit, 4chan, Telegram, BitcoinTalk, and Farcaster. The analytics platform cautioned that similar optimism was followed by substantial declines on two previous occasions.
“As we know, prices move in the opposite direction of the crowd’s expectations as retail perpetually loses money from overly emotional decisions.”
Santiment believes BTC will experience a pullback before breaking through its all-time high of $111,970, set on May 22. Santiment analysts also highlighted that Bitcoin whale wallets have shown little activity in recent sessions, indicating caution.
“For now, these wallets have been somewhat suspiciously flat. When they accumulate, prices often follow closely. When they dump or even just temporarily stop accumulating, it often signals that market values across crypto may see some declines.”
BTC ended the previous weekend on a bullish note, rising nearly 1% to close at $108,350. Despite the positive weekend, it lost momentum on Monday, dropping 1.09% to $107,168. Selling pressure intensified on Tuesday as BTC fell 1.33%, slipping below $106,000 and settling at $105,740. Despite the selling pressure, the price recovered on Wednesday, rising nearly 3% to $108,845. Buyers retained control on Thursday as the price reached an intraday high of $110,583 before settling at $109,650, ultimately registering a 0.74% increase. Price action was back in bearish territory on Friday, dropping 1.42% to $108,097.
Source: TradingView
BTC recovered over the weekend, registering a marginal increase on Saturday and rising nearly 1% on Sunday to cross $109,000 and settle at $109,231. Despite the positive weekend, BTC lost momentum on Monday, dropping almost 1% to $108,273, but not before falling to a low of $108,273. BRC recovered on Tuesday, rising 0.61% to $108,938. Buyers have retained control during the ongoing session, with the price marginally up, trading around $109,434.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
