Stable level above $100,000
Just a week ago #BTC surpassed $100,000 and has since been trading in the range of $104,000–$106,000. Institutional flows into spot ETFs remain high, supporting the long-term bullish trend.
Record inflows into spot ETFs
Over the past week, the net inflow into spot #bitcoin ETFs reached record levels: funds received hundreds of millions of dollars daily, with total investments exceeding $40 billion.
Accumulation by whales
On-chain metrics record an increase in holdings of large holders by tens of thousands of BTC over the past 30 days. At the same time, exchange balances show record outflows — about 10,000 BTC per week, reducing the supply available for trading on exchanges.
🌐 #Ethereum and altseason
ETH around $2,500
The ether has stabilized in the range of $2,450–$2,550, supported by large purchases from institutional funds.
Large institutional purchase
One of the leading hedge funds acquired over 185,000 ETH (~$400 million) in the price range of $1,800–$3,200 over three days, ensuring a price increase of over 7%.
Prospect of $10,000
If the pace of DeFi and Layer 2 solutions continues, the scenario of ETH moving to $10,000 remains possible.
🐧 Web3 games and NFT tokens
Pudgy Penguins: launch of PENGU Clash
The Pudgy Penguins team has opened beta access to the game PENGU Clash on TON, receiving over 350,000 applications for participation.
Listing #pengu on Upbit
On May 9, the PENGU token (capitalization around $900 million) became available for trading on the Korean exchange Upbit in KRW, BTC, and USDT pairs, causing a short-term price increase and market expansion.
💭 Thoughts on coins
📉 Short candidates:
— WIF — high volatility in the absence of significant announcements
— MEW — decreasing trading volumes, a bounce back to key support levels is possible
📈 Long candidates:
— LAYER — upcoming protocol updates and growing institutional interest
— #TRX — ecosystem expansion, new partnerships, and network activity