Bitcoin (BTC) is inches away from all-time highs after it seals another record weekly close.

• Bitcoin traders are eyeing both a return to price discovery and a “false move” to take liquidity at $105,000.

• The weekly close sealed July as a month for the record books, with “final resistance” now next on bulls’ to-do list.

• US trade tariffs are the macro talking point of the week, while dollar weakness continues to fuel risk-asset relief.

• Bitcoin funding rates are declining while price rises, setting up a potential short squeeze.

• Investor greed is rising, with the Fear & Greed Index in “extreme” territory despite macro risks.

Bitcoin liquidity targets include $105,000 dip

After a late-week bout of weakness thanks to long-dormant BTC wallets reactivating after 14 years, Bitcoin is back on form as the week begins.

Data from Cointelegraph Markets Pro and TradingView shows price action focusing on the $109,000 mark as Wall Street returns.

Having flipped the key $108,000 level to support, BTC/USD is increasingly giving traders cause to believe that new all-time highs are around the corner.

$BTC / $USD – Update

Holding the highs. Just waiting now for the ATH push .. pic.twitter.com/JRyhA4XEOv

— Crypto Tony (@CryptoTony__) July 7, 2025

Feel it in my flippers that we see $BTC at ath this week

The market, especially ETH and BTC both have a lot of tailwinds so far (barring anything unexpected) pic.twitter.com/oYUcDdxsiv

— Pentoshi (@Pentosh1) July 6, 2025

“$BTC Sets its high or low of the month within its first 12 days over 80% of the time,” popular trader Daan Crypto Trades noted in part of his latest analysis on X. 

“It then usually proceeds to trend in the other direction for a sizeable 20%+ move from that high or low.”

Trading resource Material Indicators notes that a return to price discovery is currently being blocked by a band of ask liquidity at $110,000.

Monitoring resource CoinGlass confirms $110,000 as the key level to break through to the upside, while bid support is lining up at $107,800.

“When price consolidates, liquidation targets are vey powerful. They tend to act as price magnets,” fellow trader CrypNuevo continued in an X thread on July 6.

CrypNuevo unearthed another liquidation target near $105,000, making a trip there a likelihood thanks to that level coinciding with the 50-day exponential moving average (EMA).

“The main individual liquidation level is at $105.2k. So it wouldn’t surprise me to see a false move to this zone first, confluence with the 1D50EMA,” he explained, describing such a low as a “good entry point.”

Weekly close keeps the records coming

After some last-minute gains on the back of US macroeconomic headlines, Bitcoin achieved another record weekly close on July 6.

At around $109,240 on Bitstamp, the close saw BTC/USD build on a previous rebound, which erased an entire week’s downside.

The pair is thus up by 1.8% in the first week of July, adding to 2.8% gains from the month prior.

Reacting, some crypto market participants were highly optimistic, with popular commentator Matthew Hyland arguing that bulls were now “in control.”

#BTC completes highest weekly candle close ever

Bulls are in control pic.twitter.com/Og4YzCFiQm

— Matthew Hyland (@MatthewHyland_) July 7, 2025

In separate X analysis, Hyland concluded that he “has to favor a continuation to all time highs here in July.”

Prior to the event, meanwhile, popular trader and analyst Rekt Capital said that a new record close would be “truly pivotal.”

“Bitcoin has done it,” he subsequently confirmed.

“Bitcoin has just about Weekly Closed above the final major Weekly resistance (red), registering its highest ever Weekly Close. The goal for Bitcoin now is to turn this final resistance into support to springboard price to new All time Highs.”

Tariff talk returns with risk assets riding high

Fed interest-rate watchers will gain further insight into recent decisions to hold rates at current levels as the minutes of its June meeting are released this week.

In what is a broadly quiet week for US macroeconomic data, attention remains focused on Fed policy, which has diverged significantly from government demands.

US President Donald Trump in particular has remained vocal about cutting rates to as little as 1% from the current 4.25%, leveling personal criticism at Fed Chair Jerome Powell.

Renewed buzz around US international trade tariffs at the weekend underscores the Trump-Fed divergence. At the June rates meeting and elsewhere, Powell repeatedly linked tariffs to inflationary pressures.

Now, with the deadline for reciprocal tariffs pushed to Aug. 1 from July 9, markets have only  brief respite from the issue.

“Markets have been pricing this in for weeks,” trading resource The Kobeissi Letter argued in part of recent X analysis, noting that a large number of countries had not reached out to the US to negotiate a trade deal.

In the latest edition of its regular newsletter, “The Market Mosaic,” trading firm Mosaic Asset meanwhile linked strong risk-asset performance in the face of inflation uncertainty to dollar weakness.

“Another catalyst behind the risk-on move in the stock market is the U.S. Dollar Index (DXY),” it told readers about the risk-asset “tailwind.”

“The dollar has fallen by over 10% this year, which makes 2025 the worst start for DXY since 1973.”

The week’s other key events include initial jobless claims and speaking appearances from senior Fed officials, among which is a speech on its balance sheet from Christopher Waller at the Federal Reserve Bank of Dallas and the World Affairs Council of Dallas/Fort Worth, Texas, on July 10.

Funding rates buck BTC price trend

Bitcoin’s record weekly close is being met with some familiar skepticism by some traders — and potentially setting up another uptick as a result.

Fresh commentary from onchain analytics platform CryptoQuant notes that funding rates are declining as BTC price action improves.

“As BTC enters a bullish trend, the declining funding rates indicate that Binance users are increasingly opening short positions. In other words, many traders are not buying into the rally and are instead betting against it,” contributor BorisVest wrote in a “Quicktake” blog post on July 6.

“This mismatch between price direction and market sentiment often leads to forced short liquidations or margin top-ups, adding fuel to the upward move.”

Mass liquidations of short BTC positions, as Cointelegraph reported, have characterized the market in recent months as BTC/USD hunts liquidity on either side of the order book.

“Short positions on Binance futures are increasing, signaling that many traders perceive the current rally as an opportunity to sell,” BorisVest acknowledged.

Last week, Cointelegraph noted that history has produced significant price upside as a result of negative funding rates.

Investor “greed” creeps back to extremes

Bitcoin at all-time highs mirrors exuberant US stocks — but the macro climate could hardly be more uncertain.

Related: Bitcoin ‘cup and handle’ breakout gives $230K target as SOL eyes 2800% gain

The growing gap between market mood and economic reality is highlighted in sentiment indices for both TradFi and crypto.

According to the latest data from CNN’s Fear & Greed Index, TradFi investors are currently in a state of “extreme greed” despite tariff woes, inflation risks and geopolitical tensions.

The index measured 78/100 at the time of writing on July 7.

“Investor sentiment and positioning reached extremely bearish levels during the April lows in the stock market. That was a key catalyst in driving a bottom and reversal higher in the stock market,” Mosaic Asset wrote on the phenomenon. 

“Sentiment has been slow to shift back in the other direction despite the S&P 500’s recovery to fresh record highs. That’s now starting to change based on several measures of investor fear and greed.”

The Index’s crypto equivalent shows a similar trend, with the Crypto Fear & Greed Index at 73/100, its highest since late May and up 6 points in 24 hours.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

The crypto market saw significant declines on July 1 despite Bitcoin’s record monthly close the day prior amid continued institutional and corporate accumulation.

Bitcoin (BTC) managed to maintain its footing above the $105,000, but altcoins experienced drastic declines, with some posting double-digit percentage losses for the day.

Bitcoin fell nearly 2% to a low of $105,182, while its daily trading volume rose 5.2% to $44.96 billion, indicating continued activity even as prices dipped. The flagship crypto was trading at $105,700 but remains in danger of further downside if the recovery loses steam.

Ethereum (ETH) also fared better than the average, sliding 3.8% for the day to a low of $2,393, while other major tokens such as Solana (SOL) and Cardano (ADA) posted losses exceeding 7%, reflecting wider market weakness. The overall crypto market value dropped 2.5% to $3.25 trillion.

Over the past 24 hours, approximately 99,016 traders were liquidated, with total liquidations reaching $243.49 million. Long positions accounted for $207.14 million, while shorts represented $36.36 million, based on Coinglass data.

Bitcoin saw the highest liquidations at $57.93 million, followed by Ethereum at $33.04 million.

Broader economic uncertainty continues to weigh on market sentiment. Persistent inflation pressures remain despite prior rate increases, fueling concerns that the Federal Reserve may maintain elevated borrowing costs for longer than previously expected.

Meanwhile, geopolitical tensions, especially the upcoming July 9 tariff deadline, have added to investor caution, with worries about global supply chain disruptions and energy security impacting broader market confidence.

The US Senate also passed President Donald Trump’s “Big Beautiful Bill,” but it dropped the crypto tax amendments from the final draft, further exacerbating the negative sentiment in the market.

Traditional markets showed mixed results, with the Nasdaq and S&P 500 edging down while the Dow Jones Industrial Average rose 1%.

Bitcoin’s relative stability in the face of these declines emphasizes its position as the dominant digital asset, though its failure to break above key resistance levels has prompted some traders to lock in profits, adding to market pressure.

Investors are now awaiting upcoming US labor market data later this week, which could influence the Federal Reserve’s policy path and set the tone for risk assets in the days ahead.

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Sujha Sundararajan

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Sujha Sundararajan

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Sujha has been recognised as Women In Crypto 2024 by BeInCrypto for her leadership in crypto journalism.

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June 20, 2025

Healthcare infrastructure firm Semler Scientific is planning to accumulate 10,000 Bitcoin by this year and targets 105,000 Bitcoin by 2027. The company has appointed BTC expert Joe Burnett as Director of Bitcoin Strategy to help lead its ambitious plans.

Semler Scientific already holds 4,449 Bitcoin in its stash and is the second U.S. publicly traded company to adopt Bitcoin as its primary treasury reserve asset.

Per the Thursday announcement, the firm aims to use proceeds from equity and debt financings and cash flows from operations.

Former Director at Unchained to Lead Semler Scientific’s BTC Strategy

Bitcoin research expert Joe Burnett recently told Cryptonews that BTC is “more scarce and portable than gold.” He has been publicly making the case for Bitcoin as the world’s most advanced form of monetary tech.

Burnett served as the director of market research at Unchained before joining Semler Scientific, contributing to helping institutional Bitcoin adoption by offering collaborative custody solutions.

“We are excited to have Joe join our Bitcoin strategy team and help drive our three-year-plan to own 105,000 Bitcoins,” said Eric Semler, chairman of Semler Scientific.

“It’s time to build one of the most valuable companies in the world,” wrote Burnett on X.

Corporate Bitcoin Holders Maintain Similar Goals

Semler Scientific’s aim to accumulate 10,000 Bitcoin by 2025 mirrors some of the leading Bitcoin holders’ strategy.

For instance, Japanese investment giant Metaplanet has similar plans to accumulate 10,000 BTC by this year and has already reached its target this month. The Tokyo-listed firm aims to amass 210,000 BTC by 2027, targeting 1% of Bitcoin’s total supply.

Early this month, Semler Scientific publicly announced it has increased its Bitcoin holdings, acquiring 185 Bitcoin between May 23 and June 3 for $20 million.

SMLR Stock Surges Nearly 12%

Following the ambitious BTC accumulation announcement on Thursday, stocks of Semler Scientific (SMLR) surged 11.95%, to $31.94 during after hours.

“We continue to accretively grow our bitcoin arsenal using operating cash flow and proceeds from debt and equity financings,” said Eric Semler in May, disclosing the company’s first quarter financial results.

Meanwhile, Bitcoin is currently trading at $104,507 at press time, registering a 24-hour loss of 0.77%, per CoinMarketCap.

Good Morning, Asia. Here’s what’s making news in the markets:

Welcome to Asia Morning Briefing, a daily summary of top stories during U.S. hours and an overview of market moves and analysis. For a detailed overview of U.S. markets, see CoinDesk’s Crypto Daybook Americas.

As Asia opens the trading week,

is changing hands at around $ 105,000, stuck in this range due to market uncertainty about whether the Israel-Iran conflict will escalate into a broader regional war, according to a recent note from trading firm QCP.

QCP wrote in a Friday note published on Telegram that risk reversals have “flipped decisively,” with front-end BTC puts now commanding premiums of up to 5 volatility points over equivalent calls, a clear indicator of heightened investor anxiety and increased hedging against downside risks.

The firm said that despite this defensive shift in positioning, BTC has demonstrated notable resilience. Even amid recent volatility, which saw over $1 billion in long positions liquidated across major crypto assets, on-chain data shows that institutional buying continues to provide meaningful support.

QCP emphasizes that markets remain “stuck in a bind,” awaiting clarity on geopolitical outcomes, and warns that the digital asset complex will likely remain tightly linked to headline-driven sentiment shifts for the foreseeable future.

With all that in mind, however, Glassnode data provides some reassurance to investors concerned about longer-term directionality.

Although recent volatility underscores short-term anxiety, bitcoin’s current cycle gain of 656%, while lower than previous bull markets, is notably impressive given its significantly larger market capitalization today.

Previous cycles returned 1076% (2015–2018) and 1007% (2018–2022), suggesting investor demand is still pacing closely with BTC’s maturation, even as near-term macro jitters dominate market sentiment.

Galaxy Research Says OP_Return Debate Wasn’t That Important

The OP_Return debate was less important than what a “loud but small group of critics” wanted everyone to think, Galaxy Research’s Alex Thorn wrote in a recent note.

Thorn described critics’ reactions as “wild accusations of the ‘death of Bitcoin'” and argued that such hyperbole was misplaced given historically low mempool congestion.

On-chain data shows that the mempool is virtually empty compared to a year ago, and the notion that a congested blockchain is suffocating BTC, as was the prevailing narrative in 2023, now appears significantly overstated.

In the note, Thorn further highlighted the irony of labeling arbitrary data as “spam,” reminding observers that Bitcoin’s creator, Satoshi Nakamoto, famously included arbitrary text, the “chancellor on brink of second bailout” headline, in the Bitcoin’s blockchain’s very first block.

Instead, Thorn argued, Bitcoin’s community attention would be better focused on potential upgrades like CheckTemplateVerify (CTV), a proposed opcode enabling strict spending conditions (“covenants”).

“We continue to believe [CTV] is a conservative but powerful opcode that would greatly enhance the ability to build better, safer methods of custody,” he wrote, noting that around 20% of Bitcoin’s hashrate already signaled support for the upgrade.

Bitcoin upgrades require extensive consensus-building, reflecting its open-source ethos, and Thorn emphasized that cautious, deliberate evolution remains critical for broader adoption and scalability.

ByBit Launches Byreal, a Solana-Native Decentralized Exchange

Bybit is entering the decentralized exchange space with Byreal, an on-chain trading platform built on Solana, Ben Zhou, Bybit’s CEO announced via X over the weekend.

Byreal’s testnet is scheduled to launch on June 30, with the mainnet rollout expected later this year. Zhou said that Byreal is designed to combine centralized exchange features such as high liquidity and fast execution with the transparency and composability of DeFi. The platform will also include a fair launchpad system and curated yield vaults linked to Solana-native assets like bbSOL.

Market Movements:

• BTC: Bitcoin held near $105,000 after more than $1 billion in leveraged positions were liquidated, led by a $200 million long on Binance, as rising Israel-Iran tensions triggered a sharp selloff, a flight from altcoins, and a brief but intense bout of volatility.
• ETH: Ethereum rose 2% to around $2,550 after finding strong support at $2,510, showing resilience amid Israel-Iran tensions and broader market volatility, with continued institutional inflows supporting the uptrend.
• Nikkei 225: Asia-Pacific markets rose Monday, led by Japan’s Nikkei 225 gaining 0.87 percent, as investors weighed escalating Israel-Iran tensions, while oil and gold prices surged on safe haven demand.
• Gold: Gold climbed to $3,447 in early Asian trading Monday, hitting a one-month high as Middle East tensions and rising expectations of a September Fed rate cut outweighed strong U.S. consumer sentiment data.

Elsewhere in Crypto:

While the broader cryptocurrency market has experienced similar pullbacks, Bitcoin’s trajectory is attracting closer scrutiny due to its influence on overall sentiment and market structure.

Analysts are looking into how external factors, particularly geopolitical developments, are impacting trading behavior. One such development is the reported military engagement between Israel and Iran on June 13, which triggered sell pressure across high-risk assets, including digital currencies.

Amid these events, key metrics on Binance,  particularly Net Taker Volume, are showing increased sell-side dominance, suggesting short-term volatility may continue.

Binance Net Taker Volume Hits Multi-Week Low Amid Bitcoin Panic Selling

According to on-chain analyst Amr Taha on CryptoQuant’s QuickTake platform, Bitcoin’s Net Taker Volume on Binance fell to -$197 million, the most negative reading since June 6.

This metric, which compares aggressive selling to aggressive buying, indicates heightened urgency among traders to sell at market prices, bypassing limit orders. The seven-hour moving average (7HMA) has remained in negative territory since June 12, reinforcing the current downward pressure.

Historically, such extremes in net taker volume have been linked to local price bottoms, as they often signal panic-induced capitulation by retail and overleveraged traders.

Taha highlighted that a similar event occurred on June 6, followed by a 4% rebound in Bitcoin’s price within 24 hours. The implication is that, while aggressive selling may signal weakness, it also presents conditions that have previously preceded price reversals.

Geopolitical Shock Triggers Liquidation Cascade, May Signal Local Bottom

Taha also pointed to the geopolitical backdrop, specifically the sudden escalation between Israel and Iran, as a major catalyst for recent market behavior. News of the strike led to a surge in liquidation activity, especially among long-leveraged positions.

The correlation between the timing of the conflict and the spike in Binance sell volume suggests that traders are reacting to broader market uncertainty, contributing to downward momentum.

Despite this, Taha still views these conditions as potentially bullish in the medium term. Heavy selling often flushes out weaker hands, creating opportunities for long-term holders or institutional participants to accumulate positions at lower prices.

Taha suggests that while the short-term outlook remains volatile, the current setup resembles previous recovery phases, marked by contrarian buying and reduced selling pressure.

Featured image created with DALL-e, Chart from TradingView

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Arslan Butt

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Arslan Butt

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Arslan Butt is an experienced webinar speaker, market analyst, and content writer specializing in crypto, forex, and commodities. He provides expert insights, trading strategies, and in-depth analysis…

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June 3, 2025

Bitcoin (BTC)’s price action around the $105,000 level has market technicians buzzing. After its historic push into six figures, BTC has carved out a textbook symmetrical triangle formation that’s nearing completion. What makes this setup particularly compelling isn’t just the pattern itself, but the convergence of multiple technical factors suggesting we’re on the cusp of a breakout.

The triangle pattern, visible on the 2-hour chart, shows a series of lower highs meeting ascending lows, creating a compression zone that typically resolves with a powerful directional move. The trendlines are converging at around $105,500, forcing a decision point for traders within potentially the next 24-48 hours.

Bitcoin Key Technical Indicators Signals Flash Green

The current technical landscape strongly favors the bulls:

1. RSI divergence is unmistakable, with the indicator forming higher lows while price temporarily dipped, a classic sign of waning bearish momentum.
2. The MACD histogram which has shifted from negative (-8.218) to positive territory (+218) with the blue line crossing above the signal line, indicating building momentum.
3. 50-period EMA at $105,420 has repeatedly caught price drops, functioning as dynamic support

What’s particularly telling is the volume profile during this consolidation. Trading volume has steadily decreased as the pattern forms, exactly what technical analysts want to see before a breakout. This declining volume confirms the pattern’s validity and suggests accumulation rather than distribution.

Smart Money’s Triangle Trading Playbook: Bitcoin Breakout Ahead?

For the moment, Bitcoin price prediction remains neutral, given the symmetrical triangle pattern, keeping BTC in a narrow range. For traders looking to capitalize on this high-probability setup, the strategy is surprisingly straightforward, though timing is everything.

The classic entry point comes on a confirmed breakout above $106,767, with most professionals requiring both price action and volume confirmation. The typical target, measured by projecting the triangle’s height from the breakout point, suggests a move toward $109,000.

Smart money places stops just below the most recent swing low at $104,098, tight enough to quickly invalidate the trade if wrong, but with enough room to avoid getting shaken out by normal market noise.

With institutional players like Sber launching Bitcoin-linked bonds and Strategy (formerly MicroStrategy) raising another $250M for BTC purchases, the fundamental backdrop supports what the charts are telling us: Bitcoin’s next leg up may be closer than many realize.

BTC Bull Token Presale Nears $7.8M Cap as 61% APY Staking Attracts Investors

With BTC/USD trading near $105K, attention is rapidly shifting to altcoins, especially BTC Bull Token ($BTCBULL). As of today, the presale has raised $6,772,528.93 out of a $7,789,647 cap, with just over $1 million left before the next price hike.

BTC-Pegged Rewards and Supply Burns Drive Scarcity

BTC Bull Token’s innovative mechanism ties rewards directly to Bitcoin’s price. Here’s how it works:

• BTC Airdrops: Token holders receive BTC rewards, with presale participants enjoying priority.
• Supply Reductions: For every $50,000 increase in BTC’s price, a portion of $BTCBULL is burned, reducing overall supply and supporting token value.
• Current Token Price: $0.002545, poised to rise as the cap nears.

This approach blends dynamic rewards with built-in scarcity, aligning $BTCBULL’s value with Bitcoin’s performance.

61% APY Staking Pool Without Lockups

BTC Bull Token’s staking pool offers an enticing 61% APY, currently holding 1,731,936,103 $BTCBULL. The key benefits include:

• No Lockups or Fees: Investors can stake and unstake their tokens freely without incurring penalties.
• Full Liquidity: Access funds anytime, unlike typical DeFi lockups.
• Consistent Yields: Passive income for token holders, independent of market conditions.

This structure appeals to both seasoned DeFi investors and newcomers seeking yield without complex terms.

Momentum Builds Ahead of Presale Cap

With less than $1 million left before the presale closes, buyers are moving fast. BTCBULL’s combination of BTC-tied rewards, strategic burns, and high-yield staking is driving participation. The presale offers an opportunity to enter before the subsequent price increase, especially as BTC’s price action intensifies.

Key Highlights:

• USDT Raised: $6,772,528.93 / $7,789,647
• Token Price: $0.002545
• Total Staking Pool: 1.73 billion $BTCBULL
• Staking APY: ~61%

BTCBULL Token’s innovative model is attracting attention as it nears its hard cap. The presale window is closing quickly, making this the last chance to secure the current price before the subsequent price increase.

Good Morning, Asia. Here’s what’s making news in the markets:

Welcome to Asia Morning Briefing, a daily summary of top stories during U.S. hours and an overview of market moves and analysis. For a detailed overview of U.S. markets, see CoinDesk’s Crypto Daybook Americas.

Bitcoin

is trading above $105K as Asia begins its business week. The world’s largest digital asset remained relatively stable over the weekend, with a 0.4% movement, and trading volume was compressed.

While overall market conditions remain bullish, a new report from CryptoQuant suggests that certain metrics indicate the BTC market is “overheating.”

The report shows bitcoin demand has climbed to 229,000 BTC over the past 30 days, approaching the December 2024 peak of 279,000 BTC. At the same time, whale-held balances have risen by 2.8 percent, a pace that often signals slowing accumulation.

These indicators suggest the current rally, which pushed prices to a record $112,000, may be nearing a short-term top.

The report highlights $120,000 as the next major resistance level, tied to the upper band of the Traders’ On-chain Realized Price, where unrealized profits would hit 40 percent, a threshold that has historically marked local tops.

While CryptoQuant’s “Bull Score Index” remains strong at 80, signaling continued bullish momentum, rising profit margins, and peaking demand growth suggest traders may face a period of consolidation before the next leg higher.

News Roundup:

James Wynn Gets Liquidated, But Says He’ll ‘Run it All Back’

James Wynn, a trader renowned for his aggressive, high-leverage bets on Hyperliquid, has been fully liquidated, leaving him with just $23 in his account after sustaining losses totaling more than $17 million, CoinDesk previously reported.

Wynn, who attracted significant attention with trades involving bitcoin, memecoins like PEPE, and even obscure tokens such as FARTCOIN, first faced steep declines from a massive $1.25 billion long position on BTC, resulting in a loss exceeding $37 million after prices dipped below $105,000 amid geopolitical turmoil.

Throughout the volatile month, Wynn rapidly cycled through trades, briefly netting an unrealized gain of $85 million before market swings wiped him out completely. An account associated with Wynn downplayed the dramatic liquidation, defiantly stating on X: “I’ll run it back, I always do. And I’ll enjoy doing it. I like playing the game. I took a large and calculated bet at making billions.”

Brazil’s Méliuz Shares Sink 8% After Announcing $78M Equity Raise to Buy Bitcoin

Brazilian fintech Méliuz plans to raise up to $78 million through a public equity offering, intending to allocate all proceeds to purchasing Bitcoin and positioning the cryptocurrency as a primary strategic asset in its treasury, CoinDesk previously reported.

However, Méliuz’s strategy hasn’t impressed the market yet, as shares dropped more than 8% following the announcement. The initial offering includes 17 million common shares, with the potential to expand up to 51 million, and investors will receive subscription warrants allowing future stock purchases at set prices.

Known for its cashback and financial services platform serving over 30 million users, Méliuz currently holds 320.2 BTC, having previously committed 10% of its cash reserves to Bitcoin in March. Trading for the subscription warrants is expected to commence on June 16, with share settlement and warrant issuance finalized by June 18.

NYC Comptroller Rejects Mayor Adams’ ‘BitBond’, Warns Deviating from Dollar Could Undermine City’s Credit Reputation

New York City’s Comptroller Brad Lander sharply criticized Mayor Eric Adams’ plan to issue municipal bonds backed by bitcoin, labeling the proposed “BitBond” as “legally dubious and fiscally irresponsible,” CoinDesk previously reported.

Lander rejected the idea just days after Adams introduced it at a bitcoin conference in Las Vegas, emphasizing that cryptocurrency’s instability makes it unsuitable to reliably fund critical city projects such as infrastructure and affordable housing.

Mayor Adams has actively promoted cryptocurrency initiatives since entering office, including converting his own paychecks into digital assets and establishing a digital asset advisory council.

However, Comptroller Lander highlighted serious practical concerns with the BitBond proposal, noting federal tax laws and city financial regulations would make the proposal unworkable, and warned that deviating from the dollar-based municipal borrowing system could undermine investor confidence and New York City’s credit reputation.

Market Movements:

• BTC: Bitcoin showed resilience, staging a V-shaped recovery between $103,813.37 and $105,305.75 amid notable volume spikes.
• ETH: Ethereum formed a bullish reversal pattern, rebounding from strong support at $2,472.84 to $2,527.53 amid high-volume buying momentum, according to CoinDesk’s Market Insight Bot.
• Gold: Gold climbed 0.6% to $3,311.66, as traders weighed its recent retreat from record highs against ongoing investor and central bank appetite driven by uncertainty over US tariffs and broader economic risks.
• Nikkei 225: Japan’s Nikkei 225 dropped 0.89% as Asia-Pacific markets traded mixed following Trump’s announcement of increased steel tariffs.
• S&P 500 Futures: Stock futures dipped Sunday to start June after the S&P 500’s strongest month since November 2023, amid uncertainty over President Trump’s tariffs following recent contradictory court rulings.

Elsewhere in Crypto:

Market sentiment shifted as reports emerged that the U.S. might reduce tariffs on Chinese imports, potentially easing global recession fears. This positive sentiment boosted Bitcoin’s appeal as a hedge against economic uncertainty, further supported by a stronger risk appetite among investors.

Key Market Drivers:

• U.S.-China trade optimism
• Strong support at $103,818 (50-day EMA)
• Bullish technical breakout above $105,000

Bitcoin (BTC/USD) Daily Technical Outlook – May 12, 2025

Bitcoin price prediction remains bullish amid BTC recent breakout above $105,000 signals a potential shift in market momentum. The 50-day Exponential Moving Average (EMA) at $103,818 provided strong support during the consolidation phase, reinforcing bullish sentiment as the price held above this critical level.

The breakout now sets the stage for a potential rally toward the next major resistance at $106,750, with a further upside target at $107,300, aligning closely with the psychological $107,000 mark.

The Moving Average Convergence Divergence (MACD) indicator is also turning bullish, with the histogram expanding and the MACD line crossing above the signal line.

This suggests growing buying pressure, reinforcing the breakout. However, traders should watch for a potential pullback if Bitcoin fails to hold above the $105,000 support.

Key Price Levels:

• Immediate Resistance: $106,750
• Next Resistance: $107,300
• Immediate Support: $105,000
• Next Support: $103,818
• Lower Support: $103,080

Market Risks and Potential Pullbacks; Bitcoin Gains

While the breakout above $105,000 is a positive sign, the market remains vulnerable to downside risks. If Bitcoin fails to sustain this momentum, a pullback toward the immediate support at $103,818 is possible.

A breach of this level could expose Bitcoin to a deeper correction toward $103,080, which coincides with a previous support zone and the lower boundary of the recent trading range.

Traders should also keep an eye on the Relative Strength Index (RSI), which is approaching overbought levels, potentially signaling a short-term correction.

BTC Bull Token Crosses $5.58M as Flexible 78% Staking Yield Draws Investors

BTC Bull Token ($BTCBULL) continues to gain traction, crossing $5.58 million in funds raised as it nears its $6.27 million presale cap.

Priced at $0.002505, the token has positioned itself as more than just a meme coin—offering real utility through flexible, high-yield staking.

Utility-Driven Tokenomics Fuel Demand

Unlike typical meme tokens, BTCBULL blends crypto culture appeal with tangible staking rewards. Investors can currently earn an estimated 78% APY while keeping their tokens fully liquid—unstaking is allowed at any time without penalties or lockup periods.

This model has resonated with investors who seek yield without sacrificing access, especially in a volatile crypto environment.

Current Presale Stats:

• USDT Raised: $5,581,603.93 of $6,272,266
• Current Price: $0.002505 per BTCBULL
• Staking Pool Total: 1,342,549,903 BTCBULL
• Estimated Yield: 78% annually

With less than $690K left before the next milestone, the presale window is narrowing fast. For investors chasing high yields with exit flexibility, BTCBULL is becoming an increasingly compelling contender in the 2025 crypto cycle.

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