We've successfully closed the bearish CME gap at $78k, but our attention now shifts to a bullish gap poised for closure at $84800, marking my next target. This pivotal moment may unfold as early as the end of this week.
Meanwhile, ETFs persist in their selling spree, having offloaded a substantial $270M yesterday.
Institutional $BTC and $ETH Services Launching Soon!
Big news for institutional investors! Clearstream, the post-trade services provider of Deutsche Boerse, is making its foray into the cryptocurrency space. As of next month, the company will begin offering custody and settlement services for $BTC and ETH to its extensive client base of 2,500, marking a significant milestone in bridging traditional finance with digital assets.
To facilitate this development, Clearstream has partnered with Crypto Finance, a subsidiary of Deutsche Boerse, to serve as a sub-custodian. This collaboration is merely the beginning, as Clearstream envisions expanding its crypto offerings to encompass additional cryptocurrencies, staking, lending, and brokerage services in the future.
This move underscores the growing mainstream acceptance of cryptocurrencies in Europe, with prominent financial institutions increasingly integrating digital assets into their existing infrastructure.
What are your thoughts? Will this development attract more institutional investment into the crypto space?
President Trump's executive order, establishing a strategic $BTC reserve, represents a significant milestone for the cryptocurrency market.
This reserve will hold $BTC confiscated from illicit activities, all without involving taxpayer funds. The primary objective of this initiative is to stabilize Bitcoin's value while maximizing the potential of seized assets, thereby avoiding the mistakes of premature sales that have occurred in the past.
As a cryptocurrency investor, I'm optimistic that this move will help reduce market volatility and pave the way for broader acceptance of $BTC as an institutional asset. The long-term implications of this decision on cryptocurrency regulation and altcoins will be fascinating to observe.
Reasoning: Breakout from the Inverse Cup and Handle pattern, coupled with a clear breach of the strong resistance zone. The chart exhibits a decidedly bullish tone, making it an attractive prospect for short-term gains.
New Hampshire has made a significant stride toward embracing $BTC reserves, as the New Hampshire $BTC Reserve bill (HB302) has successfully cleared the House committee with an impressive 16-1 vote. This milestone marks a substantial step forward in integrating Bitcoin into the state's financial reserves, potentially paving the way for broader adoption at the government level.
The growing interest in $BTC from institutional investors and governments has led to an increasing recognition of digital assets in financial strategy. This development underscores the expanding role of cryptocurrencies in shaping financial policies. As other states take note of this initiative, it will be fascinating to observe how they respond to this groundbreaking move.
The New Hampshire Bitcoin Reserve bill's progress highlights the state's willingness to explore innovative financial solutions. With Bitcoin's increasing popularity and acceptance, it's likely that other states will follow suit, potentially leading to a seismic shift in the way governments approach digital assets.
As anticipated, RAY/USDT has seen a robust bounce from the demand zone, confirming a strong bullish momentum. Steadily, the price is ascending towards TP#1 at $2.54. A successful breakout above this level could potentially propel it further to TP#2 at $2.90.
Buyers are increasingly taking positions, and if volume continues to support this trend, a strong continuation is highly likely. Maintaining a hold above the crucial support zone remains vital for further upside momentum.
$BTC has rebounded 4.5%, rising from $83,000 to $87,166, despite ongoing market uncertainty caused by Trump's tariffs. Investors are closely watching as $BTC stabilizes.
Metaplanet Expands Bitcoin Holdings
Japan's MetaPlanet has purchased an additional 497 BTC for $43.9M, increasing its total holdings to 2,888 BTC. The company remains bullish on Bitcoin, reinforcing its role as a store of value.
45% BTC Yield & Stock Surge
MetaPlanet's year-to-date Bitcoin yield has reached 45.1%, surpassing its quarterly target of 35%. As a result, its stock has surged 16.89% to 3,910 JPY, rebounding from a key support level.
Whales Accumulate Over 20,000 BTC
Crypto analyst Ali Martinez reports that since BTC fell below $88,000, whales have accumulated over 20,000 BTC. With Bitcoin's Sharpe ratio improving, analysts suggest this could be a prime accumulation phase.