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Anglo American (LON: AAL) is edging closer to launching a formal sale process for De Beers after reportedly receiving expressions of interest from several potential buyers, including two former chief executives of the diamond miner. De Beers, the world’s leading diamond producer by value, has been on the chopping block since May 2024, when Anglo announced plans to either sell the unit or launch an initial public offering (IPO). This decision came as part of a corporate overhaul triggered by Anglo’s successful defence against a £39 billion ($49 billion) takeover bid by Australian rival BHP (ASX: BHP). Former De Beers bosses Gareth Penny and Bruce Cleaver are both leading groups that are potential buyers, as is Australian mining veteran Michael O’Keeffe, according to anonymous sources quoted by Bloomberg. Penny is chair of Ninety One, an investment firm with over $175 billion of assets under management. Cleaver has served for nearly a year as chair and independent non-executive director at Gemfields (LON: GEM) (JSE: GML), which mines emeralds and rubies. O’Keeffe, who orchestrated the $3.7-billion sale of Riversdale Mining to Rio Tinto in 2011, currently sits on several mining boards, including Burgundy Diamond Mines (ASX: BDM), which operates Canada’s Ekati mine. Anglo American declined MINING.COM’s request for comments. Penny, Cleaver and O’Keeffe could not be reached. Cracking under pressure The sale of De Beers comes amid unfavourable market conditions. Prices have fallen amid rising competition from lab-grown precious stones and weakening demand in China. In February, Anglo slashed the unit’s valuation for a second time, bringing it down to $4.1 billion. CEO Duncan Wanblad said at the time that De Beers might remain under Anglo’s ownership into 2026, depending on market conditions. Recent figures highlight the severity of the crisis. De Beers reported a 44% revenue drop in the first quarter of the year and is sitting on $2 billion worth of unsold stock. The company also plans to cut more than 1,000 jobs at its Debswana joint venture, according to the mine workers union, even though the operation is the backbone of Botswana’s economy.

Mastercard has revealed that almost half of its e-commerce transactions in Europe are now tokenised. In its 3 June 2025 press release, the company said that its goal is to support 100% tokenised e-commerce transactions by 2030. Brice van de Walle, Executive Vice President, Core Payments Europe Mastercard, said, “One year into our 100% tokenisation and authentication journey, Europe is gaining strong momentum. We’re working with partners to make digital payments more secure and seamless, through Click to Pay, passkeys, and tokens.” Notably, 50% of Mastercard e-commerce transactions tokenised in Europe include Secure Card on File (SCOF), Click to Pay, and digital wallets, have increased by over one third in the past year. Mastercard’s’ Merchant tokenisation, known as SCOF, is available in 45 European countries and territories. The move comes after Mastercard through its research found that 54% of Europeans feel irritated when asked to create an account at checkout, and 82% report some level of frustration navigating friction-heavy processes. DISCOVER: 10+ Crypto Tokens That Can Hit 1000x in 2025 Critical Partners For tokenisation, Mastercard has partnered with Checkout.com, Delivery Hero (eFood, Foody, Foodora, and Glovo), Global Collect (Worldline), Monext, and Santander. Matias Sanchez, Global Head of Cards and Digital Solutions at Santander said, “With tokenisation, their card details are better protected, making checkout easier, faster, and more secure. Partnering with Mastercard allows us to bring this extra layer of safety, therefore Click to Pay is one of our top priorities.” Meanwhile for Click to Pay, Mastercard partnered with Autopay, Consors Finanz BNP Paribas, Fiserv, ICA Banken, Lendable, Nickel, N26, Ogone (Worldline), PayU, SaferPay (Worldline), SIX, and tPay For payment passkeys, Mastercard partnered with Dintero, Netopia, Solidgate. As the first European processor to combine this with Click to Pay, we’re proud to offer a faster, safer, password-free experience, setting a new standard for digital commerce and building on our strong partnership with Mastercard.” said Marius Costin, Netopia CEO. DISCOVER: 9+ Best High-Risk, High-Reward Crypto to Buy in May 2025 Recent Crypto Expansion Moves By Mastercard Just last month, MoonPay teamed up with Mastercard to launch a new suite of stablecoin payment cards. This move enables seamless digital asset spending at over 150 million merchants worldwide. The MoonPay Mastercard global stablecoin payment card will allow users to pay with stablecoins such as USDC, USDT, DAI. For Mastercard, this is another move in crypto expansion. Recently Mastercard also announced that it will provide a “360-degree approach where consumers can spend stablecoins and merchants can receive them.” This approach included partnerships with crypto wallets like MetaMask, Kraken, Gemini, Bybit, Crypto.com, Binance, Monavate, and Bleap to allow consumers to buy stablecoins easily with their credit/debit cards, as well as withdraw them into their bank accounts easily. Kraken and Mastercard have also announced a new partnership. It focuses on digital assets in everyday transactions across the UK and Europe. At the core of the Kraken-Mastercard partnership was a simple goal: to make crypto spending as seamless as using traditional currency. In January 2025, the company launched Crypto Credential solution for the people of UAE and Kazakhstan in the EMEA region. DISCOVER: 20+ Next Crypto to Explode in 2025 Key Takeaways Mastercard said that its goal is to support 100% tokenised e-commerce transactions in Europe by 2030. 50% of its e-commerce transactions in Europe are already tokenised. To focus on crypto expansion, the company is focusing on many new partnerships. Recently, it partnered with MoonPay, Kraken and more. The post Mastercard Ready To Abandon Manual Card Transactions For Tokenized Transactions By 2030 appeared first on 99Bitcoins.

Overview: The dollar is mostly softer today in narrow trading ranges, though it is firmer against the yen and Swiss franc. The weakness of US data (ADP, ISM services, and anecdotal Beige Book) lifted the market confidence of at least two Fed cuts this year. Most emerging market currencies are also trading higher against the dollar today. Still, overall, the foreign exchange market is relatively calm, and ranges are mostly narrow. The outcome of ECB meeting today (rate cut and reductions in this year's growth and inflation forecasts are likely) and tomorrow's US employment report are awaited. Equities are generally firmer. Among the large markets in the Asia Pacific region, Japan and Australia did not participate in today's advance. Europe's Stoxx 600 is rising for the third consecutive session. US index futures are firm. Bond markets are also bid. Japan's 30-year bond auction was alright. The bid-cover of 2.92 though is not regarded as inspiring. Still, the 10-year yield fell almost four basis points to 1.45%. European benchmark yields are mostly 3-4 bp lower. The 10-year Treasury yield is slightly softer near 4.34%. Gold is firm in the upper end of this week's range, which is a little below $3400. July WTI is trading quietly in a $62.50-$63.15 range. It has been capped this week below $64. Last month's high was closer to $64.20. USD: The dollar traded poorly yesterday. Weighed down by a surprisingly poor ADP private sector jobs estimate (37k vs. 114k expected), a softer than expected ISM services (the first sub-50 reading since June 2024), and a Beige Book that underscored drag of the economic and policy uncertainty, the Dollar Index trended lower in North America. Tuesday's low was slightly below 98.60 and this was approached yesterday. The more important level is 97.90-98.00, the three-year low set last month. It is trading quietly today in a narrow range below 99.00. We already know that the US April goods deficit narrowed dramatically to $87.6 bln from the rush to get ahead of the tariffs that ballooned the deficit to $162.3 bln in March. Goods imports in April tumbled by almost 20%, a record. Exports rose 3.4%. The overall April trade balance will be reported today an dis is seen narrowing to around $66 bln from $140.50 bln. The US reports Q1 productivity and unit labor costs. These are among the economic phenomena that are not observed directly but deduced from the GDP data. Productivity contracted (-0.8%) after growing by an average of 2.1% in 2024 and 3.1% in 2023. Unit labor costs are a mirror image. They rose by an average of slightly less than 2% last year and a little more than 2% in 2023. They jumped 5.7% in Q1 25, pending today's revision. Weekly jobless claims may draw some attention after last week's report (week through May 23) showed a 14k job to 240k, the first increase in four weeks, and the second highest since early last October. Still, the national jobs report tomorrow is more important. Slower nonfarm payroll growth is expected (~130k vs 177k) but the key may be the unemployment rate. It was at 4.2% in March and April, matching last year's high. The Atlanta Fed's GDP tracker will be updated later today. On Monday, it was raised to 4.6% from 3.8%. EURO: The euro settled firmly yesterday and above $1.14. Options for 2.4 bln euros struck there expire today. It is holding above $1.1400 so far today and has been unable to rise above $1.1435. A move above $1.1455 re-targets the 3 1/2-year high set last month near $1.1575. Above there, the initial scope may extend another cent. There is practically no doubt that the ECB will deliver another quarter-point cut today. The sub-2% aggregate May CPI removes whatever lingering doubt there may have been. There seems to be two issues. First are the updated forecasts. It is reasonable to expect growth and inflation forecasts to be trimmed. In March, the ECB saw the economy expanding by 0.9% this year, 1.2% next, and 1.3% in 2027. It had CPI at 2.3% this year, 1.9% in 2026, and 2.0% in 2027. For comparison purposes, note that the IMF's updated forecasts are for 0.8% growth this year and shares the ECB's outlook for the next two year. Its CPI projection is 2.1% this year and again converges with the ECB for 2026 and 2027. The second issue is forward guidance. We suspect ECB President Lagarde to be circumspect and non-committal. Barring a new shock, a pause seems to be in order. So, no cut in July, while September, which sees new forecasts, may be a closer call. CNY: The greenback's broad weakness saw it fall for the second consecutive session against the Chinese yuan. The dollar was sold to an eight-day low near CNH7.1700. It is holding today, and the dollar has pushed up to about CNH7.1820. Last week's low, the lowest since last November, was near CNH7.1615. The PBOC lowered the dollar's reference rate after increasing it for the past two sessions (CNY7.1865 vs. CNY7.1886). Caixin's services PMI ticked up to 51.1 from 50.7 but the much weaker than expected manufacturing PMI (48.3 vs 50.4 in April) was sufficient to drag the composite PMI lower to 49.6 from 51.1. It is the first break of 50 since the end of 2022. The headwinds from the trade dispute with the US appear to be growing again as container shipment to the US have fallen again. The facture of the agreement struck in Geneva seems to be over chips and critical minerals and magnets. Yet, it seems that China is progressing with its largely domestic chip industry, which is being forced to innovate somewhat differently. At the same time, the replacement of China's capacity in critical minerals (and their processing) and magnets seems more challenging for the US to replace in the short- to medium-term. JPY: The dollar initially rose to a three-day high yesterday near JPY144.40 but the softer US data and the 10 bp pullback in the US 10-year yield provided too much, even if the correlation has slackened lately. The dollar was sold to almost JPY142.60. It made a marginal new low today near JPY142.50 before recovering to JPY143.40. Tuesday's low was closer to JPY142.40. The JPY142 area offers support. Labor cash earnings were steady at 2.3% year-over-year in April. Consider that in April 2024, they had risen by 1.6% year-over-year. Yet, adjusted for inflation, real cash earnings continue to fall. They fell 1.8% in the year through April. In April 2024, they had fallen by 1.2% on a year-over-year basis, and in April 2023, they were off 3.2%. This is likely one of the factors that constrain household spending, which will be reported tomorrow. It is seen slowing to 1.5% in April from 2.1% in March. GBP: Sterling rose to $1.3580 on the back of the weaker dollar. It is trading in a narrow range slightly below there today (~GBP1.3540-$1.3575). The high in late May was near $1.3595. Above $1.3600, the next highs from March 2022 come into view near $1.3645. The upper Bollinger Band is slightly above there today. The 2022 high was recorded in January (~$1.3750). The UK reported a small increase in auto registrations (a proxy for auto sales) and the third consecutive rise in the construction PMI, which remains below 50 as it has since the end of last year. CAD: The Bank of Canada held policy steady yesterday, but it seems clear that the easing cycle is not over. Still, in the face of the greenback's heavier today, the Canadian dollar rose to its best level since last October. The US dollar approached CAD1.3650. It has held today but looks vulnerable as the upside has been capped near CAD1.3685. The lower Bollinger Band is near CAD1.3625 today. From a technical perspective, there is little to hang one's hat on until closer to CAD1.3600, and even then, the "support" does not look particularly strong. Canada reports its April merchandise trade balance today. Although it reported a nearly C$2 bln trade deficit in February and March combined, the nearly $3.1 bln surplus in January offset it in full. The means in Q1 25, Canada recorded slightly more than a C$1 bln goods surplus. In Q1 24, a small deficit was reported. Canada's IVEY PMI is also due. It typically is more volatile and runs hotter than the PMI composite. It was at 47.9 in April, down from 51.30 in March, which was the first back-to-back decline since July-August 2024. AUD: The Australian dollar pushed above $0.6500 in North America yesterday and again failed to close above it. It is trying again today and is bid around $0.6515 in late European morning turnover. Last week's high was slightly above $0.6535, a little shy of the $0.6550 area we targeted, which corresponds to the (61.8%) retracement of the losses from last October (~$0.6940) to the April low (~$0.5915). Australia reported its goods trade surplus earlier today. It narrowed from March's A$6.9 bln, which was the largest since January 2024 to A$5.4 bln. That is still above last year's average (~A$5.7 bln). Exports slowed. They slipped by about 2.4% after jumping 7.2% in March (the largest gain since April 2022). Imports rose by 1.1% after tumbling 2.4% in March. Separately, household spending rose by 0.1% in April after falling 0.3% in March. At an annualized rate, it is rising at a 2.4% pace. In the first four months of 2024, household spending rose at an annualized rate of around 3.3%. MXN: The weaker greenback, lower US rates, and equity gains helped underpin the peso yesterday. The peso rose to its best level since last October. The US dollar approached MXN19.1625 before stabilizing. It is in a narrow range between MXN19.1895 and MXN19.2135. It has been a slow but steady grind lower from May's high set on May 6 near MXN19.7820. We continue to see potential toward the MXN19.00 area initially. Yesterday, Mexico reported a dramatic 10.8% surge in May auto sales. The reality may not be as impressive. The report is not seasonally adjusted, and auto sales have risen every May beginning in 2006. It was the sixth time that May auto sales rose by more than 10%. May auto sales were about 0.4% lower than sales in May 2024. Separately, Brazil's composite PMI slipped lower and remained under 50 for the second consecutive month. Disappointing real sector data and the recent softer PMI print may give the market reason to re-think the likelihood of a rate hike at the June 18 central bank meeting. The dollar approached BRL5.61 yesterday, with BRL5.60 offering important support. It has been frayed on an intraday basis a few times here in Q2 but has not settled below it once. Disclaimer

Bitcoin is drifting just above $105,000 on June 5, its lowest realized volatility in almost two years, yet Swan, the Los-Angeles-based “Bitcoin-only” financial services firm, contends the market is on the verge of its most radical re-pricing ever. The Last Chance To Buy? In a X thread on Wednesday night, the company argued that the familiar four-year boom-and-bust cadence is giving way to “the last rotation”—a silent transfer of coins from retail speculators to institutions whose investment horizons stretch decades. “People less committed to the long term are exiting […] and a whole new class of investors is entering,” Swan is quoting Michael Saylor, framing the hand-off from retail traders to corporate treasuries, ETFs and multinationals such as BlackRock and Fidelity. So far, 2025 has defied the script. The third calendar year of every prior cycle—2013, 2017 and 2021—delivered the vertical moves that defined those eras. This year has offered “big moves, but also shallower corrections and longer periods of sideways chop,” Swan writes, conceding that the price action “is boring people.” The firm’s thesis is that boredom masks an invisible supply squeeze: long-time holders taking profits above $100,000 while “long-only buyers,” in Swan’s words, methodically absorb the float. “These corporations, they’re long-only buyers. Not traders of Bitcoin,” Swan argues, underscoring the firm’s view that coins migrating into corporate vaults are effectively removed from circulation. The thread portrays three intertwined rotations: Between entities – Trustees, lawyers and early adopters are exiting; ETFs, corporations and “sovereign-grade balance sheets” are stepping in. Between intentions – Speculation gives way to allocation. “This new wave of buyers isn’t speculating,” Swan writes. “They’re allocating.” Between generations. The Silent Generation hoarded gold; Boomers compounded in equities; Gen X surfed tech; now Millennials, “entering their peak accumulation years,” are “inheriting trillions—and they’re choosing Bitcoin.” Supply dynamics, Swan contends, make those rotations irreversible. “When long-term capital meets inelastic supply, the float starts vanishing,” the firm warns. “That’s when things get explosive.” The macro backdrop adds pressure: Swan points to a “rare and dangerous split” in which the US dollar is weakening even as bond yields surge—an environment, it says, that could funnel excess capital toward a neutral store of value. “This isn’t just the next cycle. It’s the end of an era,” Swan concludes. “If you’re selling now, understand you’re likely handing your Bitcoin to an institution that plans to hold it indefinitely. Once it’s gone, you’re probably never getting it back.” For Swan, the implication is stark. The apparent tranquility near $105,000 is less a sign of exhaustion than the quiet before a permanent liquidity event—one in which the marginal seller disappears, the marginal buyer never sells, and price must eventually mark higher to find equilibrium. “Think twice,” Swan advises would-be profit-takers. “The float is drying up. The buyers are built different. This is the last Bitcoin rotation.” If the firm is right, history is not repeating so much as culminating, and the market’s current stillness may soon be remembered as the eye of a generational storm. At press time, BTC traded at $104,605.

Solana’s out to rebuild a digital empire, and it’s doing it from an office building in Lower Manhattan. Having a physical headquarters might seem a bit counter-intuitive for a company focused on digital assets. But the move is fueling an ongoing shift at Solana Labs, from Solana the meme coin chain to Solana as a serious, ‘Wall-Street-ready’ DeFi chain. The offices opened back in 2023, and Solana Labs uses them as a staging board where potential partners and investors can come visit and chat directly with Solana’s devs. The move is paying off; even as more and more companies adapt a ‘Bitcoin reserve’ strategy to use with $SOL. What does it all mean? Even as Solana takes aim at becoming the go-to blockchain for finance, top crypto presales set out to build on the blend of memes and finance provided by the Solana chain. Solana: Go-To Blockchain for Finance? Major companies like Upexi, Inc ($UPXI) are taking Michael Saylor’s Bitcoin reserve strategy and applying it to Solana. Upexi purchased 77,879 $SOL, giving it a total of 679,677 $SOL valued at $121M. The company has gained roughly $24.5M from token appreciation so far, aided by a good month, performance-wise, from $SOL itself. Upexi isn’t the only company looking to capitalize on Solana’s success: SkyBridge Capital, led by Anthony Scaramucci, poured $50M into a Solana Staking ETF in Canada Apollo and Securitize partnered to launch tokenized credit funds on Solana and other blockchains SOL Strategies announced a $500M investment to facilitate SOL token acquisitions and partnerships Classover, an education company, will issue up to $500M in convertible notes to build a SOL treasury That’s a lot of money starting to pour into Solana’s potential as a financial tool, instead of a simple platform for spamming new meme coins. Of course, degens being what they are, meme coins are still being spammed. A lot of them. A million of them, actually, just in May alone on Solana. Most of those launches fail almost immediately. But the sheer volume of new tokens launched demonstrates continued interest in Solana’s speed and low fees, ideal factors for meme coin success. With a pump.fun token launch likely incoming, it’s not like Solana’s abandoning the meme coin world altogether. Instead, some of the most promising new crypto projects bring both sectors together. Snorter Token ($SNORT): Find 100x Opportunities On Telegram with Snorter Bot With so many tokens launching all the time, the question isn’t ‘will there be a 100x token.’ The real question is – how do you find it? That’s where the Snorter Token ($SNORT) and the Snorter Bot come in. Tons of Solana meme coins never make it to big CEX listings or major news coverage. Instead, they’re traded on Telegram groups. If they do make it big, the best opportunities for buying low and selling high are long gone. Finding these underground opportunities takes a lot of effort, but thankfully, the Snorter Bot simplifies it all. Safety features like honeypot detection and rugpull alerts help minimize losses, while automated sniping and copy trading let you sniff out and snag the best opportunities. It’s all powered by the $SNORT token, the native utility token for the Snorter Bot. This isn’t a meme coin; it’s a sophisticated trading bot designed to sort through the millions of Solana memes and find the real winners. That utility is driving a wave of interest in $SNORT, with well over $400K raised so far. The presale is in the early days, which makes it the perfect time to buy and stake your $SNORT tokens for an estimated 735% dynamic APY. Buy and stake now, claim your rewards at the token launch, and they’ll be disbursed block-by-block over the next year. A full quarter of the token supply is reserved for product development, powering $SNORT into the future of Solana’s meme coin development. Will the Snorter Bot Bridge the Gap Between Memes and Finance? With millions of dollars flowing into Solana and the $SOL token as a strategic reserve, there’s room for a token that stays true to Solana’s meme coin roots while also looking to the finance future. Do your own research – you’ll need to decide for yourself. But given Solana’s trajectory, $SNORT could be positioned perfectly. Don’t miss out.

Following the Bitcoin price sweep down below the $104,000 level over the weekend, the Dogecoin price was pushed back down below $0.2 once again. This move understandably shocked the community as the $0.2 has held for a long time. However, using the 4-hour order block (OB), a crypto analyst has explained what is going on with the Dogecoin price, why the decline happened, and where it could be headed next. Dogecoin Price Experienced A Liquidity Sweep Crypto analyst Smart Flows, on the TradingView website, pointed out an interesting development on the Dogecoin price chart. This showed a clear delineation for why the meme coin’s price dropped below the $0.2 psychological support level, and it came down to something as clean as a liquidity sweep. The crypto analyst uses the 4-Hour order block on the Dogecoin price chart to explain this, starting just above the $0.22 price level. This saw a liquidity sweep through the Fair Value Gap (FVG) at the 0.5 Fibonacci level, breaking through the $0.2 support. This move, Smart Flows explains, was in no way emotional and was more of a ‘mechanical’ move, suggesting it was engineered to happen. The outcome of this liquidity sweep is that there has now been a reset of sentiment surrounding the Dogecoin price, setting the stage for a potential reversal. If this is the case, then Dogecoin may be sitting on the cusp of what could be the next major rally above $0.2. What To Expect Next From Here According to the crypto analyst, Dogecoin is now sitting in a 4-Hour demand order block zone that is in confluence with the Fair Value Gap (FVG) above $0.2. This makes the $0.20928 level the first “key reaction point,” and the analyst points out two possibilities for the meme coin here: either the price continues to stall or consolidation begins at this level. Basically, the Dogecoin price has to be able to beat the first major test at $0.209 before moving higher from here. This means it must complete a clean clearance of the FVG to grab liquidity above. After this, the real test begins at $0.22094, where the next major 4-Hour order block sits. The analyst explains that being able to clear the FVG will mean a continuation model is in play. However, there is still the possibility that the Dogecoin price is rejected before it is able to clear the FVG above $0.2. In this case, it could signal a further downtrend for the altcoin. “If we reject early — that tells me distribution is starting, and I’ll prep for a secondary sweep below 0.18 to retest the deeper 4H OB near 0.16387,” the analyst concluded.

On-chain data shows the large Bitcoin investors have added to their holdings in the past week, a sign that could be bullish for BTC’s price. Bitcoin Investors With 10 To 10,000 BTC Have Added To Their Holdings In a new post on X, the on-chain analytics firm Santiment has talked about the latest trend in the Bitcoin supply held by the 10 to 10,000 BTC investors. The on-chain indicator of relevance here is the “Supply Distribution,” which tells us about the total number of tokens that a particular wallet group is carrying right now. Addresses or investors are placed into these cohorts based on the size of their balance. For example, the 1 to 10 coins group includes all holders owning between 1 and 10 tokens of the cryptocurrency. In the context of the current discussion, the groups lying inside the 10 to 10,000 BTC range are of interest. This wide range includes some of the key holders of the sector like the sharks and whales. These investors own significant holdings, so their behavior can often be worth keeping an eye on. Now, here is the chart shared by the analytics firm that shows the trend in the Bitcoin Supply Distribution of the 10 to 10,000 BTC holders over the last few months: As is visible in the above graph, the Bitcoin supply held by the 10 to 10,000 BTC investors has registered a significant jump over the past week, implying this group has purchased a net number of coins. More specifically, the members of the cohort have collectively added 79,244 BTC to their wallets in this period. At the current exchange rate, this amount converts to a whopping $8.3 billion. From the chart, it’s visible that this accumulation from the key investors has arrived while BTC has been going down after forming a new all-time high (ATH). This could be a potential indication that these holders still believe in the rally and see this drawdown as just a dip opportunity. That said, the 10 to 10,000 range is a bit wide, so while it does include the big-money investors, it also mixes up their behavior with some of the less-significant hands. Fortunately for Bitcoin, it would appear that the whales (1,000 to 10,000 BTC) agree with this trend of buying, as the chart shared by analyst Ali Martinez implies. As displayed in the graph, the whales of the cryptocurrency have added around 30,000 tokens to their holdings during the past few days, meaning that it’s not just the mid-sized hands buying this dip. BTC Price At the time of writing, Bitcoin is floating around $105,200, down over 2% in the last seven days.

Ethereum (ETH) is retesting a crucial resistance level amid its daily 3% recovery. The cryptocurrency has been rejected from this area since last month’s market recovery, failing to continue its bullish rally. As its price continues its sideways trajectory, an analyst suggests that a 15% move is coming. Ethereum Price Compressing Within Key Levels Since its early May breakout, Ethereum has been trading between the $2,475-$2,680 price range, failing to turn the range’s upper boundary as support for nearly a month. Amid last week’s market pullback, the cryptocurrency retraced around 11% from its three-month high of $2,788 to the range’s lower boundary, bouncing from this area on Monday. At the start of the week, ETH reclaimed the $2,500 mark and continued its recovery rally toward the $2,600 resistance. On Wednesday, the King of Altcoins saw a 3.2% daily surge toward the local range high resistance before retracing to the $2,635 level. Carl Runefelt from The Moon Show highlighted the cryptocurrency’s recent performance, affirming that Ethereum is “showing confidence” by staying inside a key formation in the daily timeframe. According to the chart, Ethereum has been forming an ascending triangle since the May rally, with the upper line around the $2,680-$2,700 mark. Moreover, ETH’s price has been compressing between the support and resistance lines, suggesting a potential 15% move if the price breaks out of the pattern. Runefelt forecasted a surge toward the $3,100 level if the Altcoin reclaims the crucial resistance level. However, if the price is rejected once again from this level, the analyst considers that Ethereum could drop to the $2,300 support zone. Crypto Bullet pointed out a similar pattern on multiple ETH charts, suggesting that a 15%-20% breakout is imminent for the cryptocurrency. Per the post, the ETH Dominance is “about to break out” from an ascending triangle pattern in the 12H chart, while the ETH/BTC and ETH/USD trading pairs are nearing the upper boundary of a one-month symmetrical pattern. ETH Preparing For Liftoff? Analyst Crypto Jelle asserted that once ETH reclaims the major resistance area, between $2,680-$2,850, “everything flies higher.” Notably, a reclaim of this zone would send the cryptocurrency above its multi-year ascending support trendline, which was along amid the Q1 2025 retraces, and set the stage for a surge toward the cycle highs. Meanwhile, Ted Pillows noted that ETH’s performance this cycle resembles Bitcoin’s (BTC) price action in 2020. According to the analyst, Ethereum has formed four consecutive 2-week candles since the April 7 bottom, which mimics BTC’s movement after the March 2020 crash. “The similarities between BTC 2020 and ETH 2025 are just mind-blowing,” he stated, suggesting that Ethereum could reach a new all-time high (ATH) in the coming months if it continues to follow BTC’s 2020-2021 trajectory. Market watcher Merlijn The Trader highlighted the same similarities between the flagship cryptocurrency and Ethereum, adding that the King of Altcoins also “just nailed the Spring & Test phase of Wyckoff.” According to the trader, ETH’s structure “screams one thing: Jump. Across. The. Creek. The breakout is coming.” As of this writing, Ethereum trades at $2,632, a 44.2% increase in the monthly timeframe.

Bitcoin is so far facing a notable pullback in price, with its price now down roughly 5.8% from its all-time high recorded last month. At the time of writing, the asset currently trades at $105,062, marking a 1.1% decrease in the past day. Despite the pullback, on-chain data indicates a significant change in market behavior among large investors. A new set of Bitcoin whales—wallets holding 1,000 BTC or more with coins aged less than six months—has been accumulating the asset at an accelerated pace. Young Whale Holdings Surge as Supply Share Tightens According to a recent analysis published by CryptoQuant contributor “onchained,” this accumulation trend may reflect renewed conviction among high-capital participants preparing for future catalysts. Between March 1 and June 4, 2025, the amount of Bitcoin held by this group of “new whales” more than doubled from approximately 500,000 BTC to over 1.1 million BTC. This represents an increase of around $63 billion in value. During the same period, their share of Bitcoin’s total circulating supply grew from 2.5% to 5.6%, effectively removing an amount equivalent to nearly ten months of Bitcoin mining output from active circulation. Notably, this measure excludes long-dormant wallets, helping isolate recent capital inflows. This trend suggests a combination of long-term positioning and active supply absorption, which historically has preceded significant price volatility. Analysts view the emergence of new whale activity as a signal of shifting market structure, especially when paired with tightening supply conditions. If these entities continue to withdraw BTC from circulation without signs of immediate distribution, it could signal a period of price compression followed by upside volatility. Technical Patterns Suggest Possible Breakout Levels From a technical analysis perspective, Bitcoin may be forming a new bullish pattern. According to a recent post by the analyst known as “Titan of Crypto,” the asset has broken out of a right-angled descending broadening wedge, a chart pattern that can imply a trend reversal or continuation depending on confirmation. If the price maintains levels above the wedge’s breakout zone, historical analysis suggests a potential upside target near $135,000 in 2025. This technical view aligns with the broader narrative of positioning ahead of expected macroeconomic catalysts. Featured image created with DALL-E, Chart from TradingView

Circle, the company behind the USDC stablecoin, just pulled off one of the most talked-about IPOs of the year. Priced at $31 per share, Circle’s public debut wasn’t just solid, it blew past the expected range of $27 to $29, and the Circle IPO raised over $1.1 billion. The company is now valued at around $6.9 billion based on shares outstanding, and that number could climb to $8.1 billion once everything’s fully diluted. This isn’t just a moment for Circle. It’s a moment for crypto companies trying to prove they belong in traditional financial markets. Wait, What Exactly Does Circle Do? Let’s break it down. Circle runs USDC, a stablecoin that mirrors the U.S. dollar. If you’ve sent crypto, used DeFi apps, or dabbled in NFTs, chances are you’ve used USDC without even realizing it. It’s designed to keep a stable value while letting people transact across blockchains in seconds. Even more impressive is how much activity Circle sees on-chain. By March 2025, USDC had been used for over $25 trillion worth of transactions. That’s not a typo. That’s trillion with a T. It shows how deeply USDC is embedded into the daily operations of crypto platforms, payment services, and institutional transfers. DISCOVER: 9+ Best High-Risk, High-Reward Crypto to Buy in May 2025 Why This IPO Actually Matters This isn’t just a company cashing out. It’s a signal that crypto firms can grow up, go legit, and enter the public markets the old-fashioned way. Circle tried going public through a SPAC deal in 2022, but that fell apart when the market went sideways and regulators got cold feet. This time, Circle did it the classic route and found plenty of buyers. - Price Market Cap - - - 24h 7d 30d 1y All Time Log And timing? Pretty ideal. Trump is back in office, and pro-crypto voices are gaining steam in Congress. Bills like the GENIUS Act are aiming to regulate stablecoins in a way that lets trusted players like Circle thrive. If the rules become more favorable, Circle could see a surge in business. Are More Crypto IPOs Coming? That’s the bet. If Circle’s launch goes smoothly, it could inspire others to follow. With the Circle IPO now complete, other crypto firms may feel more confident pursuing listings of their own. Companies like Ledger, Kraken, and even ConsenSys have flirted with the idea of going public. Now that Circle is walking the walk, it might be easier for the next wave to step up. Final Word Circle’s IPO isn’t just about stock tickers and share prices. It’s a window into how crypto is settling into the real world. No longer the loud outsider, Circle is showing what it looks like when a blockchain-based company plays by Wall Street’s rules, and wins. DISCOVER: 20+ Next Crypto to Explode in 2025 Join The 99Bitcoins News Discord Here For The Latest Market Updates Key Takeaways Circle raised over $1.1 billion in its IPO, pricing shares at $31 and exceeding expectations to reach a $6.9 billion valuation. The company operates USDC and EURC, two major fiat-backed stablecoins used across DeFi, NFTs, and institutional payments. Circle posted $1.76 billion in 2024 revenue with $779 million in operating income, proving its real-world financial strength. USDC has processed over $25 trillion in transactions, making it one of the most widely used assets in crypto infrastructure. Circle’s successful IPO may pave the way for other crypto firms like Kraken and ConsenSys to go public through traditional markets. The post Circle Cashes In Big With $1.1B IPO Ahead of NYSE Debut appeared first on 99Bitcoins.

JPMorgan is finally giving Bitcoin a bit more credit, literally. The banking giant has started allowing select clients to use spot Bitcoin ETFs as collateral for loans. The Bitcoin ETF loan program is designed for high-net-worth individuals and institutions looking for flexible credit solutions. A Conservative Embrace of Crypto This move doesn’t mean JPMorgan is suddenly holding Bitcoin or becoming a crypto-first institution. Instead, it’s accepting regulated financial products that track Bitcoin, such as BlackRock’s iShares Bitcoin Trust. These ETFs are approved by the SEC and can be priced, monitored, and risk-assessed within the bank’s existing systems. Only a small group of clients will qualify at first, mostly institutional or high-net-worth individuals. For these borrowers, pledging Bitcoin ETFs gives them a way to access cash without having to liquidate their crypto exposure. Crypto Holdings Now Count Toward Net Worth JPMorgan is also beginning to consider digital assets when evaluating a client’s overall financial position. That includes directly held crypto and crypto-linked ETFs. For people sitting on a decent stack of Bitcoin, this could improve their eligibility for certain credit and investment products. Treating crypto as a legitimate component of wealth is a small but important shift. Until now, many banks would ignore these assets entirely when assessing client profiles. This move acknowledges the role digital assets are playing in modern portfolios. DISCOVER: Top 20 Crypto to Buy in May 2025 Why It’s Happening Now The timing makes perfect sense. Since spot Bitcoin ETFs were approved in the United States earlier this year, institutional adoption has exploded. BlackRock’s ETF alone has attracted billions of dollars. Altogether, U.S.-listed Bitcoin ETFs are managing more than 55 billion dollars. - Price Market Cap - - - 24h 7d 30d 1y All Time Log Banks are following the money. JPMorgan, Goldman Sachs, BNY Mellon, and others have all launched or expanded crypto-related services in recent months. From custody and clearing to lending and research, traditional institutions are trying to offer crypto services while still staying within regulatory guardrails. Letting clients borrow against Bitcoin ETFs is a logical next step. It gives banks a controlled way to support demand without diving headfirst into the volatility of the underlying assets. Jamie Dimon’s Position Hasn’t Changed Much JPMorgan CEO Jamie Dimon remains publicly critical of Bitcoin. He’s called it worthless, unproductive, and even dangerous. But at the same time, he has acknowledged the bank must serve its clients, not just his personal views. This development doesn’t mean the bank is changing its stance on crypto’s long-term value. What it does mean is that client demand is strong enough to push even reluctant institutions toward practical solutions. DISCOVER: The 12+ Hottest Crypto Presales to Buy Right Now What This Means for the Industry Crypto is no longer sitting at the kids’ table. JPMorgan treating Bitcoin ETFs as viable collateral sends a strong message. Other banks are likely to follow, and the list of approved assets could expand beyond Bitcoin over time. This Bitcoin ETF loan initiative demonstrates how traditional banks are cautiously adapting to the growing demand for digital assets. It’s a small step in terms of functionality, but a big one for crypto’s reputation in finance. Whether you believe in Bitcoin or not, Wall Street is starting to make room for it. DISCOVER: 20+ Next Crypto to Explode in 2025 Join The 99Bitcoins News Discord Here For The Latest Market Updates Key Takeaways JPMorgan now accepts spot Bitcoin ETFs like BlackRock’s IBIT as loan collateral, signaling growing institutional acceptance of crypto assets. This service is limited to select institutional and high-net-worth clients, giving them access to liquidity without selling their Bitcoin exposure. The bank will now factor in both crypto ETFs and directly held digital assets when assessing client net worth and creditworthiness. The decision follows a wave of institutional adoption after U.S. approval of spot Bitcoin ETFs, with over $55B in assets already managed. Despite CEO Jamie Dimon’s ongoing criticism of Bitcoin, JPMorgan is responding to client demand and evolving market realities. The post JPMorgan Will Now Let Clients Borrow Against Bitcoin ETFs appeared first on 99Bitcoins.

Senator Cynthia Lummis, who leads the Senate Subcommittee on Digital Assets, says the US military backs a plan to create a Strategic Bitcoin Reserve. Jamie Dimon, the CEO of a major bank, recently called that plan a waste. Lummis pushed back. Lummis told Bloomberg the military thinks having Bitcoin on hand matters. She said it could be a tool in the economic contest with China. Some see that as a bold step. Others say it’s risky. Military Backs Bitcoin Reserve According to the senator, military leaders say Bitcoin could help in an economic showdown. They see it as a way to hold value if traditional assets get hit by sanctions or big moves from other nations. She spoke about weapons and ammunitions being part of national security, but she added that a Bitcoin reserve is also vital. Some military voices have warned that future conflicts won’t just be fought on battlefields. Money and digital assets could play a key role too. Legislative And Executive Moves Based on reports, Lummis introduced a bill to have the US buy and hold 1 million BTC. That would mirror what countries do with gold. The idea is to pull funds from the Treasury or Federal Reserve rather than use new budget money. It has not moved far in Congress. Still, US President Donald Trump issued an order on March 6, 2025, to set up a Bitcoin reserve plus a digital asset stockpile for other coins. He said the government would use assets seized in civil and criminal actions to start the fund. That means some 200,000 BTC the government already has could be part of it. Lummis Sees Bitcoin Price Rising In The Next Decade Lummis unveiled a proprietary model forecasting a dramatic rise in Bitcoin’s price over the next decade, citing factors such as its fixed supply, growing institutional adoption, and expanding network effects. Analysts caution that such long-term forecasts hinge on unpredictable factors like regulatory shifts, technological breakthroughs, and market sentiment, any of which could derail even the most optimistic projections. She also praised Trump for pushing simple rules for crypto and for using digital coins as part of national strategy. Trump’s family runs a DeFi platform, a stablecoin project, and even some meme coins. Lummis thinks everyone will end up in the crypto economy sooner or later. Skeptic Voices And Uncertain Path Jamie Dimon disagrees. He calls the Bitcoin reserve a waste of resources. Other experts worry about Bitcoin’s ups and downs. They say a strategic reserve shouldn’t ride on something that can swing 20% in a single day. Some economists at top universities give zero support to borrowing money to build a crypto stash. They argue it doesn’t make sense against the US’s nearly $36 trillion national debt. For now, the bill to buy 1 million BTC sits in committee. Featured image from Imagen, chart from TradingView

Cardano price started a fresh decline below the $0.70 zone. ADA is now consolidating and might aim decline further below the $0.650 zone. ADA price started a fresh decline below $0.720 and $0.700. The price is trading below $0.70 and the 100-hourly simple moving average. There was a break below a bullish trend line with support at $0.6840 on the hourly chart of the ADA/USD pair (data source from Kraken). The pair could start a fresh decline if it dips below the $0.650 support zone. Cardano Price Dips Further In the past few days, Cardano saw a fresh decline below the $0.750, unlike Bitcoin and Ethereum. ADA even declined below the $0.70 level to enter a bearish zone. Besides, there was a break below a bullish trend line with support at $0.6840 on the hourly chart of the ADA/USD pair. The bears even pushed the price below the $0.70 level. A low was formed at $0.6626 and the price is now consolidating losses. Cardano price is now trading below $0.70 and the 100-hourly simple moving average. On the upside, the price might face resistance near the $0.6720 zone. It is near the 23.6% Fib retracement level of the recent decline from the $0.7026 swing high to the $0.6626 low. The first resistance is near $0.6825 or the 50% Fib retracement level of the recent decline from the $0.7026 swing high to the $0.6626 low. The next key resistance might be $0.6920. If there is a close above the $0.6920 resistance, the price could start a strong rally. In the stated case, the price could rise toward the $0.7350 region. Any more gains might call for a move toward $0.750 in the near term. Another Decline In ADA? If Cardano’s price fails to climb above the $0.6825 resistance level, it could start another decline. Immediate support on the downside is near the $0.6625 level. The next major support is near the $0.650 level. A downside break below the $0.650 level could open the doors for a test of $0.620. The next major support is near the $0.60 level where the bulls might emerge. Technical Indicators Hourly MACD – The MACD for ADA/USD is gaining momentum in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for ADA/USD is now below the 50 level. Major Support Levels – $0.650 and $0.620. Major Resistance Levels – $0.6825 and $0.700.

Bitcoin is experiencing a short-term price decline. In the past 24 hours, the asset has fallen by approximately 9.3% to a trading value of $105,062. This pullback places Bitcoin roughly 8% below its all-time high recorded last month. The dip comes amid broader market volatility, but on-chain indicators and exchange data suggest deeper structural trends that may influence the next phase of Bitcoin’s price trajectory. Recent market analysis points to renewed accumulation among long-term holders, a spike in exchange withdrawals, and rising spot trading activity on Binance. These developments are being interpreted as signals of underlying strength despite recent price weakness. CryptoQuant contributor Amr Taha has provided a detailed breakdown of these emerging patterns, offering a perspective on how long-term dynamics may be shaping Bitcoin’s current market behavior. Binance Trading Volume Rises, Long-Term Holders Accumulate Since early June, Binance has seen its share of Bitcoin spot trading volume increase from 26% to 35%, positioning it more firmly as the dominant platform in the market. This increase in trading activity has occurred as Bitcoin approaches and tests key price levels. According to Taha, this surge may indicate renewed interest from retail and institutional traders alike, particularly as volatility draws more short-term market participants to major exchanges. In addition to exchange volume shifts, on-chain data reveals growing confidence among long-term Bitcoin holders. The Long-Term Holder (LTH) Net Position Realized Cap, a metric that reflects the value of coins held by entities with a holding period of over 155 days, has returned above $20 billion. Historically, this type of accumulation pattern has preceded periods of price expansion, as long-term investors tend to hold through corrections and avoid frequent selling. The rise in LTH realized cap suggests these entities are not exiting positions during this market dip, which may reduce available supply and support future upward movement. Bitcoin Large Exchange Withdrawals Signal Tightening Supply Beyond trading activity and holder behavior, Taha pointed out that another notable trend is emerging on centralized exchanges. Over a two-day period, Kraken and Bitfinex recorded net Bitcoin outflows exceeding 20,000 BTC, among the largest short-term withdrawals in recent months. Such movements are often interpreted as signals of investors shifting assets into self-custody, possibly in anticipation of long-term holding or strategic redeployment. Combined, the rise in Binance’s market share, increased LTH accumulation, and exchange outflows present a picture of a market undergoing structural positioning rather than widespread exit activity. While the short-term price trend reflects a pullback from recent highs, the simultaneous withdrawal of supply and steady long-term holder confidence could act as foundational elements for potential future growth. Featured image created with DALL-E, Chart from TradingView

XRP price started a fresh increase above the $2.220 resistance zone. The price is now consolidating and might aim for a move above the $2.250 resistance. XRP price started a fresh increase above the $2.220 zone. The price is now trading above $2.220 and the 100-hourly Simple Moving Average. There is a key bullish trend line forming with support at $2.185 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair might start another increase if it clears the $2.250 resistance zone. XRP Price Holds Support XRP price remained stable above the $2.050 support and started a decent upward move, beating Bitcoin and Ethereum. There was a move above the $0.2150 and $0.20 levels. The bulls were able to clear the $2.25 resistance zone. A high was formed at $2.2816 and the price is now correcting gains. The price dipped below the $2.25 level and the 50% Fib retracement level of the upward move from the $2.137 swing low to the $2.2816 high. The price is now trading above $2.20 and the 100-hourly Simple Moving Average. There is also a key bullish trend line forming with support at $2.185 on the hourly chart of the XRP/USD pair. It is near the 61.8% Fib retracement level of the upward move from the $2.137 swing low to the $2.2816 high. On the upside, the price might face resistance near the $2.2320 level. The first major resistance is near the $2.250 level. The next resistance is $2.2850. A clear move above the $2.2850 resistance might send the price toward the $2.320 resistance. Any more gains might send the price toward the $2.350 resistance or even $2.380 in the near term. The next major hurdle for the bulls might be $2.40. Downside Break? If XRP fails to clear the $2.25 resistance zone, it could start another decline. Initial support on the downside is near the $2.20 level. The next major support is near the $2.1850 level. If there is a downside break and a close below the $2.1850 level, the price might continue to decline toward the $2.150 support. The next major support sits near the $2.120 zone. Technical Indicators Hourly MACD – The MACD for XRP/USD is now losing pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now below the 50 level. Major Support Levels – $2.20 and $2.1850. Major Resistance Levels – $2.250 and $2.30.

Ethereum price started a fresh increase above the $2,550 zone. ETH is now facing resistance near the $2,640 and $2,665 levels. Ethereum started a fresh increase above the $2,550 level. The price is trading above $2,550 and the 100-hourly Simple Moving Average. There is a key rising channel forming with support at $2,600 on the hourly chart of ETH/USD (data feed via Kraken). The pair could extend losses if it trades below the $2,600 support zone in the near term. Ethereum Price Consolidates Gains Ethereum price started a decent upward move above the $2,500 zone, beating Bitcoin. ETH price was able to climb above the $2,520 and $2,550 resistance levels. The price even cleared the $2,600 resistance zone and tested the $2,665 level. A high was formed at $2,677 and the price is now consolidating gains. There was a minor move below the $2,620 level. The price dipped below the $2,620 level and the 23.6% Fib retracement level of the upward move from the $2,476 swing low to the $2,677 high. Ethereum price is now trading above $2,550 and the 100-hourly Simple Moving Average. There is also a key rising channel forming with support at $2,600 on the hourly chart of ETH/USD. On the upside, the price could face resistance near the $2,640 level. The next key resistance is near the $2,665 level. The first major resistance is near the $2,720 level. A clear move above the $2,720 resistance might send the price toward the $2,780 resistance. An upside break above the $2,780 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $2,880 resistance zone or even $2,920 in the near term. Downside Break In ETH? If Ethereum fails to clear the $2,665 resistance, it could start a fresh decline. Initial support on the downside is near the $2,600 level. The first major support sits near the $2,575 zone and the 50% Fib retracement level of the upward move from the $2,476 swing low to the $2,677 high. A clear move below the $2,575 support might push the price toward the $2,500 support. Any more losses might send the price toward the $2,420 support level in the near term. The next key support sits at $2,350. Technical Indicators Hourly MACD – The MACD for ETH/USD is gaining momentum in the bearish zone. Hourly RSI – The RSI for ETH/USD is now below the 50 zone. Major Support Level – $2,575 Major Resistance Level – $2,665

Singapore-based trading desk QCP Capital says the options market is sending an unmistakable signal: large players are quietly positioning for a break to $130,000 by the end of Q3, even as spot Bitcoin languishes near $105,000. $130,000 Bitcoin Bets Heating Up In a note to clients on Wednesday, the firm highlighted “a surprise uptick in job openings” that lifted risk appetite across equities, nudging the S&P 500 toward the psychologically charged 6,000 mark. “A steady NFP would cement the Fed’s narrative of a resilient labour market, reinforcing expectations that rates will remain on hold,” QCP wrote, adding that front-end Bitcoin volatility has already “slipped below 40 vol” as traders park on the sidelines before Friday’s payroll print. Despite the calm surface, options flows tell a livelier story. “September $130K calls were lifted at 47 vol,” QCP observed, pointing to “pockets of topside interest heading into Q3.” With the one-month volatility term structure now flatter than at any point since May, opportunistic funds have found it inexpensive to buy long-dated vega while selling short-dated gamma. The dynamic mirrors a broader decline in equity volatility—VIX is plumbing its own three-month lows—and has left Bitcoin’s implied curve looking “wholly normalised,” QCP noted, with skew suggesting “little directional conviction” in the near term. That benign backdrop may not last. The desk warned that tariff frictions and Washington’s so-called “Big Beautiful Bill” could roil macro data just as the US debt-ceiling saga re-enters the headlines. “In the absence of a clear catalyst, BTC is unlikely to break materially out of its current range,” the note said, but Q3 “could prove more challenging” as fiscal risks and trade tensions “introduce potential headline volatility.” China has already flashed early signs of stress: futures volumes in 10- and 30-year Chinese government bonds have fallen to their lowest levels since February, a fact QCP attributes to “broader risk aversion and sidelined positioning.” Meanwhile, markets await any progress on an anticipated Xi-Trump dialogue—an event that could shift sentiment on tariffs. For now, however, Bitcoin remains pinned. Spot has hugged the $105,000 handle for five straight sessions, open interest is light, and realized volatility has compressed into a mid-teens annualized band—conditions that historically precede a sharp expansion. Whether that expansion resolves higher or lower hinges on the very catalysts traders are bracing for: payrolls data, central-bank rhetoric, and the tariff announcements that dominated headlines earlier in the year. Yet the willingness of sophisticated desks to pay up for September upside is hard to ignore. A cluster of large prints in the $130,000 strike, executed at implied vols roughly seven points above the prevailing curve, suggests at least some investors expect Bitcoin to test new highs before month-end September. QCP stops short of endorsing the trade outright but underscores the asymmetry: “With vols crushed and skew flat, the cost of owning topside gamma has rarely looked this attractive,” the firm writes. That calculus—cheap optionality against a potentially volatile macro backdrop—explains the growing divergence between spot lethargy and options optimism. If the payroll report arrives soft, the Fed pivot narrative could re-ignite; if tariff negotiations sour, Bitcoin’s digital-gold appeal may resurface. Either path feeds volatility, and volatility is precisely what long-vega buyers are banking on. At press time, BTC traded at $104,648.

Bitcoin price started a fresh decline and tested the $104,200 zone. BTC is now consolidating and might struggle to clear the $106,800 resistance zone. Bitcoin started a consolidation phase above the $104,000 zone. The price is trading below $106,000 and the 100 hourly Simple moving average. There is a bullish trend line forming with support at $104,450 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could start a fresh increase if it clears the $106,800 resistance zone. Bitcoin Price Dips To Support Bitcoin price started a fresh decline and traded below the $105,650 support zone. BTC even traded below the $105,200 level and tested the $104,200 zone. A low was formed at $104,279 and the price is now consolidating losses. There was a move above the $104,500 level and the 23.6% Fib retracement level of the recent decline from the $106,820 swing high to the $104,279 low. Bitcoin is now trading below $106,000 and the 100 hourly Simple moving average. There is also a connecting bullish trend line forming with support at $104,450 on the hourly chart of the BTC/USD pair. On the upside, immediate resistance is near the $105,500 level. It is close to the 50% Fib retracement level of the recent decline from the $106,820 swing high to the $104,279 low. The first key resistance is near the $106,220 level. The next key resistance could be $106,800. A close above the $106,800 resistance might send the price further higher. In the stated case, the price could rise and test the $107,500 resistance level. Any more gains might send the price toward the $110,000 level. More Losses In BTC? If Bitcoin fails to rise above the $106,000 resistance zone, it could start another decline. Immediate support is near the $104,500 level and the trend line. The first major support is near the $104,200 level. The next support is now near the $103,200 zone. Any more losses might send the price toward the $102,500 support in the near term. The main support sits at $101,200, below which BTC might gain bearish momentum. Technical indicators: Hourly MACD – The MACD is now losing pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level. Major Support Levels – $104,200, followed by $103,200. Major Resistance Levels – $105,500 and $106,800.

Despite recent volatility, several key indicators are pointing to a bullish undercurrent for Bitcoin (BTC). These include Binance’s rising market dominance, renewed accumulation by long-term holders (LTH), and significant BTC withdrawals from major crypto exchanges. Bitcoin Showing Signs Of Renewed Strength At the time of writing, Bitcoin is trading in the mid-$100,000 range – approximately 6.1% below its latest all-time high (ATH) recorded on May 22. The flagship cryptocurrency has declined more than 3.5% over the past seven days amid renewed concerns over global trade tensions and tariffs. However, according to a recent CryptoQuant Quicktake post by contributor Amr Taha, several bullish signals have emerged since the start of June. Most notably, the LTH Net Position Realized Cap recently crossed the $20 billion threshold, reflecting increased confidence among seasoned investors. For context, LTHs are entities that have held BTC for over 155 days. Often referred to as “smart money,” these investors typically follow long-term strategies and are less likely to sell during short-term market corrections. The Realized Cap metric tracks the total value of BTC held by LTHs, based on the price at which coins were last moved. A rising value in this metric implies accumulation by long-term investors – behavior that historically precedes bullish continuation phases. Meanwhile, major exchanges such as Kraken and Bitfinex have witnessed substantial BTC outflows. Over two consecutive days, more than 20,000 BTC exited these platforms – marking one of the largest short-term withdrawal spikes in recent months. Such major Bitcoin withdrawals from exchanges are considered bullish because they signal that investors intend to hold their BTC in private wallets rather than sell it, reducing the available supply for trading. This supply contraction can create upward pressure on price, especially when demand remains steady or increases. At the same time, Binance has strengthened its lead in spot market dominance. Since early June, its share of BTC spot trading volume has increased from 26% to 35%, signalling growing market activity. This uptick aligns with BTC testing key resistance levels. Taha remarked: The convergence of rising exchange dominance, long-term holder confidence, and supply tightening paints a bullish picture for Bitcoin. While short-term corrections are possible, the underlying demand and reduction in available BTC on exchanges suggest that the uptrend is far from over. BTC Benefitting From Neutral Funding Rates, Low Selling Pressure Recent on-chain data shows that the BTC derivatives market has undergone a complete reset, with its funding rates now hovering around zero, not showing any directional bias. Similarly, selling pressure on BTC has remained subdued, evident from low Binance inflows. That said, some caution is warranted. Fresh on-chain data suggests that cracks may be forming in the sustainability of the current bullish momentum. At press time, BTC trades at $105,022, down 0.3% in the past 24 hours.

The Province of British Columbia has announced that, in partnership with the Tahltan, Taku River Tlingit, Kaska Dena, Gitanyow and Nisga’a Nations, land-use planning will begin in the coming weeks in the northwestern corner of BC, engaging with industry to provide greater certainty for investors, First Nations and communities. Last week, Premier David Eby outlined the government’s vision for attracting mining investment to the province, particularly in the mineral-rich northwest. The vision, Eby emphasized, is to realize an opportunity for tens of billions of dollars in investment and thousands of jobs throughout the province. The plan involves partnering with First Nations to achieve large-scale conservation and strengthen reconciliation envisioned by the Declaration on the Rights of Indigenous Peoples Act (DRIPA), the BC government said in a news release. “These are foundations to establishing areas for Indigenous-led conservation for precious land and watersheds in some of the most pristine and rugged wilderness in Canada and for clearly identifying areas where critical minerals may be developed,” the release reads. Over the next year, the Province, Tahltan, Taku River Tlingit, Kaska Dena, Gitanyow and Nisga’a Nations will undertake expedited, inclusive land-use planning and essential stakeholder and public engagement. The project plan Land-use planning will be in an area covering about 16 million hectares in the northwestern corner of the province, near the Alaska and Yukon borders. The aim is completion of plan development within a year through engagement with and input from communities, First Nations, regional districts, industry, tenure holders, recreation users and conservation organizations through identification of areas for conservation of biodiversity, including wild salmon, caribou, sheep and other sensitive species, and cultural values. There will be clear identification of areas open to potential development, including mineral exploration and development, with clear sustainability and environmental safeguards supporting improved permitting efficiency and effectiveness, the provincial government said, adding that existing land-use plans and strategic engagement agreements that clarify requirements for expedited implementation of the northwest vision will be updated. There will be a one-year pause on new mining-tenure registrations in just under one-third of the land-use planning area to support the joint planning process, while allowing permitting and exploration for existing projects and mineral claims to take place. The plans created through these collaborative processes will define what can occur on the land base, identifying important areas for both Indigenous-led conservation and areas for potential natural resource development to create a wealth of new opportunities for economic development. AME response The Vancouver-based Association for Mineral Exploration (AME) issued a response to the project plan, saying it is encouraged by “earlier than normal” engagement with government in these land use planning processes and a commitment for AME to be at the table with the government, First Nations and other interested groups. “AME shares the government’s aspiration for certainty, including establishing clear areas for critical minerals and precious metals exploration and development,” Board Chair Trish Jacques said in the statement. “While there are good signs at this early stage – from the accelerated one-year land use planning process, to allowing Notice of Work permitting and existing tenures to continue throughout the planning area – mineral explorers have invested hard work and money in areas that may be considered sensitive,” Jacques said. “AME will continue to advocate to protect mineral exploration and development for the benefit of all British Columbians.”

Cardi B’s recent post about the meme token Wet A*s P*ssy (WAP) turned into a dramatic market shakeup. Within minutes, WAP’s market cap plunged from $2 million to just $150,000. The token’s price shot up to $0.0020 briefly, then tumbled over 90% back to $0.00019, wiping away almost all of this week’s gains. Celebrity Tweet Sparks Chaos According to reports, Cardi B shared a wallet address on her official X account with the caption “even wetter than last time.” That single message sent ripples through the crypto world. Prices leaped, then crashed. Market watchers were left scratching their heads as billions of dollars in value seemed to vanish in mere moments. Suspicious Wallet Activity Blockchain trackers spotted something odd. A handful of wallets bought big chunks of WAP just five days before the tweet. They offloaded their tokens almost immediately after Cardi B’s post, banking roughly 10 times their original stake. These sudden sells helped push the token’s price back down to around $0.00019. Based on reports, this pattern looks like a classic pump-and-dump. It raises questions about whether insiders planned the entire move. History Of WAP Controversies This isn’t the first time WAP caused trouble. Back in October 2024, Cardi B gave it a shout-out, and security firm PeckShield flagged the token for possible malicious deeds. That earlier buzz even led to an investigation by the UAE’s Securities and Commodities Authority after investors raised alarms over fraud and market manipulation. Many in the crypto community thought everyone would steer clear this time. Instead, the past slipped from memory, leading to heavy losses all over again. Investors Left Holding The Bag In the last 24 hours, WAP’s value dropped another 80%. Now it trades near the same levels it was at the end of May. Everyday traders who jumped on the hype found themselves staring at red numbers. Based on reports, some wallets walked away with tenfold returns in minutes. Meanwhile, others ended up with nearly worthless tokens. The speed of this rise-and-fall serves as a harsh reminder: if you buy a token right as it peaks, you might be stuck when the next crash hits. Cardi B’s follow-up post clarified that her account was not hacked, promising more from “$WAP space” soon. Yet this explanation did little to calm nerves. Critics say it’s hard to separate the artist’s genuine interest from a planned marketing push. Some point out that even if she didn’t directly benefit, her endorsement gave insiders exactly the spotlight they needed to unload their shares. Featured image from Andrew Kelly/Reuters/USA Today, chart from TradingView

Marimaca Copper (TSX: MARI) (ASX: MC2) surged by double digits on Wednesday after announcing a C$24.4 million ($17.7 million) private placement to fund its namesake project in northern Chile. The offering comprises approximately 5.31 million common shares priced at C$4.60 per share, issued exclusively to institutional investors. Two of Marimaca’s cornerstone shareholders, Assore International Holdings and Ithaki, will buy most of the shares at 2.25 million each. A blue chip fund is expected to purchase the remaining portion. The stock opened the trading day at C$4.88 apiece and closed at C$5.28 for an intraday gain of 10.2%. The rally takes the Toronto-based copper miner’s market capitalization to roughly C$534 million ($390 million). Net proceeds from the offering will be used to advance the company’s 100%-owned Marimaca copper project in Chile’s Antofagasta region, hailed as one of the most significant copper oxide discoveries in the world’s top copper-producing nation in years. Funds will also be allocated to support the company’s exploration efforts across its district-scale land package, which includes the 150-sq.-km Sierra de Medina property block located 25 km from the Marimaca deposit. Feasibility study Since its discovery in 2016, Marimaca has been consistently growing the project’s resource, which now totals 200 million tonnes in the measured and indicated categories grading 0.45% copper for 900,000 tonnes of contained copper, plus 37 million tonnes in the inferred category grading 0.38% copper for 141,000 tonnes. According to a 2022 preliminary economic assessment, the open-pit mine is expected to produce 40,000 tonnes of copper cathodes annually during its first six years of operation, starting in 2028. Over the 12-year mine life, total recovered copper is estimated at 430,000 tonnes. Marimaca is currently progressing the project through the definitive feasibility phase, with a technical report anticipated in the middle of this year. The company is also aiming to obtain environmental approval from the Chilean government by year-end for the mine, for which copper extraction is designed around the less carbon-intensive heap leaching method.

Despite the recent rally to a new all-time high (ATH) of $111,900, crypto analysts have warned that the Bitcoin price could still witness a massive crash that will send it below $100,000. These analysts highlighted fundamentals and technicals that could spark this price crash. Analysts Highlight Why Bitcoin Price Could Still Crash Below $100,000 In a TradingView post, crypto analyst Stephan mentioned the geopolitical tensions, with the Russia-Ukraine conflict intensifying as one of the factors that could spark the Bitcoin price crash. He explained how this conflict could drive investors toward safe-haven assets, such as gold. The analyst also noted that Bitcoin ETFs experienced modest outflows last week. Stephan’s accompanying chart showed that the Bitcoin price could drop to as low as $96,765 as it retests the psychological $100,000 support level. Crypto analyst Nova also warned that Bitcoin could drop to $100,000 while providing a technical analysis of the flagship crypto’s current price action. In a TradingView post, Nova stated that if the Bitcoin price faces resistance around the $106,406 daily level and continues to correct, it could extend the decline to retest the psychologically important $100,000 mark. She further revealed that the Relative Strength Index (RSI) on the daily chart is at 53, trending downwards to the neutral level of 50. This indicates weakening bullish momentum. Nova also stated that the Moving Average Convergence Divergence (MACD) showed a bearish crossover last week. Meanwhile, the analyst alluded to the increasing red histogram bars below the baseline, which she claimed further signal a potential correction ahead. Her accompanying chart showed that the Bitcoin price could drop to $99,000 as it retests the $100,000 level. Crypto analyst Kevin Capital also called for caution at the current Bitcoin price level. He stated that nothing has changed for the flagship crypto and indicated that there was no need to be ultra bullish at this current level. The analyst earlier warned that things could get sketchy looking for BTC if it fails to reclaim $106,800 soon enough. BTC Could Still Rally To $135,000 This Year In an X post, crypto analyst Titan of Crypto raised the possibility of the Bitcoin price rallying to $135,000 this year. He noted that BTC has broken out of a right-angled descending broadening wedge, and if the price holds above the breakout zone, $135,000 becomes a realistic target. The analyst added that the structure is clean. Crypto analyst Mikybull Crypto stated that the Bitcoin price is gearing up for a new all-time high. He further remarked that $120,000 remains a magnet for the flagship crypto in this market cycle. Meanwhile, veteran trader Peter Brandt predicted that BTC could reach $150,000 by late summer 2025. At the time of writing, the Bitcoin price is trading at around $105,400, down in the last 24 hours, according to data from CoinMarketCap.

On-chain data shows the retail interest in Bitcoin has been waning as small-holder volume has gone down during the past month. Bitcoin Retail Investor Demand Has Seen A Negative 30-Day Change In a CryptoQuant Quicktake post, an analyst has talked about the latest trend in the “Retail Investor Demand” of Bitcoin. This indicator provides an estimate for, as its name suggests, the amount of demand that the smallest of investors, the ‘retail,’ have toward the cryptocurrency right now. The metric does so by referring to the transaction volume associated with this cohort. Considering the small wallet size attached to these holders, their transfers would typically remain under a value of $10,000, so the volume related to them can be separated from the rest of the market by only restricting to transfers below this size. Now, here is the chart shared by the quant that shows the 30-day percentage change in the Bitcoin Retail Investor Demand over the past year: As is visible in the above graph, the Bitcoin Retail Investor Demand saw its 30-day change enter into the positive territory when the latest bull rally first started, suggesting that the small investors increased their transfer activity. The 30-day change continued a gradual rise as the run played out, but after the cryptocurrency set its new all-time high (ATH), it noted a reversal in direction. Today, the metric has declined enough to dip back into the negative territory, meaning that retail investor volume is now going down on the monthly timeframe. From the chart, it’s also apparent that even at its peak, the 30-day change in the Retail Investor Demand never actually touched a high level this rally, which is in sharp contrast to the run from the end of 2024. Thus, it would appear that the recent price surge not only failed to ignite any notable level of interest among the small hands but also failed to maintain the attention that it did gather. The switch to a negative monthly change for the Retail Investor Demand could be down to the bearish action that the coin’s price has seen since the ATH, but the fact of the matter is that Bitcoin is currently still very much in range of this record, so it’s interesting to see this sentiment among the group. Speaking of transaction volume, the institutional DeFi solutions provider Sentora (formerly IntoTheBlock) has talked about the latest trend in the volume share of the Bitcoin miners. As displayed in the chart, the Bitcoin miners have seen their volume share sharply go down recently and drop to the lowest level since 2022. This implies these chain validators have seen their activity plummet relative to the rest of the network. BTC Price Bitcoin has taken to sideways movement recently as its price is still trading around the $105,200 mark.

Log in to today's North American session recap - June 4, 2025 Indices are mixed all around, with European stocks closing up 0.70% and most other indices closing down except for the Nasdaq, led by Meta (+3.16%) and Google (+1.16%). US ISM Services missed on their 52 expectations, as the data enters contraction territory at 49.9 and the Bank of Canada held rates at 2.75% for the highest-tier of Economic Data releases. There hasn't been many headlines today except for Saudi Arabia announcing a 411K increase in their Oil production which contradicted a preceding rise in Oil - The commodity is closing down 1.12% on the day after rejecting the highs of its $60.5 to $64 range. Opinions are the authors'; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. The provided publication is for informational and educational purposes only. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please refer to the MarketPulse Terms of Use. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © {CURRENT_YEAR} OANDA Business Information & Services Inc.