Ether $ETH relative to bitcoin $BTC is breaking out after a multi-month consolidation.
Is this bearish for bitcoin? No. It just means that we might be at the beginning of the so-called "altcoin season" where other cryptos start to outperform bitcoin. But it does NOT mean that bitcoin is heading south. The new all-time highs in Coinbase, Robinhood and other crypto-related stocks and assets like Galaxy Digital are additional evidence that the crypto bull market might actually gathering speed. Source. J-C Parets NB: this is not an investment recommendation. Do your own research
Will the -500 days / + 500 days hashtag#trading strategy on bitcoin work again this time?
At the time of this writing, hashtag#Bitcoin 500 day strategy is still on track. 1) Buy Bitcoins 500 days Before Halving 2) Hold & Do Nothing 3) Sell 500 Days After Halving 4) Repeat Last halving was on April 20th. This would imply an intermediary top on the 17th of August 2025. Source: Mags @thescalpingpro
Cost Basis Heatmap shows investors stepped in aggressively on the dip
They accumulated ~196.6K $BTC between $116K–$118K. That’s over $23B in value added near the local top, signalling strong conviction and possible positioning for further upside. Source: Glassnode
Cantor Fitzgerald close to $4 billion SPAC deal with Adam Back "to buy billions of dollars" of Bitcoin.
FT >>> "Brandon Lutnick, son of US commerce secretary Howard Lutnick, is nearing a roughly $4bn deal with an early bitcoin supporter to buy billions of dollars in the digital tokens using a vehicle backed by Cantor Fitzgerald. Cantor Equity Partners 1, a blank cheque vehicle that raised $200mn in cash in an initial public offering in January, is in late-stage talks with Adam Back, founder of crypto trading group Blockstream Capital, to buy more than $3bn in the digital currency, according to two people briefed on the talks. The deal, which mirrors a $3.6bn crypto buying venture Brandon Lutnick struck with SoftBank and Tether in April, would advance Cantor Fitzgerald’s strategy of using publicly listed shell companies to buy bitcoin as it aims to take advantage of a surge in digital currency prices amid US President Donald Trump’s deregulatory push. Howard Lutnick handed control of Cantor Fitzgerald to his children in May. Back is in discussions to contribute as much as 30,000 bitcoin to Cantor Equity Partners 1, worth more than $3bn. It would be part of a broader deal with the blank cheque company in which it would raise as much $800mn in outside capital to make further purchases of the digital currency, putting the overall deal at more than $4bn". Source: FT
Over the past 24 hours, Bitcoin investors realized $3.5B in profits.
🔹 Long-term holders took $1.96B (~56%) 🔹 Short-term holders took $1.54B (~44%) One of the largest $BTC profit realization days this year - driven mostly by long-term holders. Source: Glassnode
Here's a funny one...
Vanguard, via its funds, is now the single largest shareholder of Strategy. Still can NOT buy spot bitcoin ETFs on their brokerage platform... Source: Bloomberg, @NateGeraci on X
BofA forgot to include bitcoin in their "best performing asset of the decade" table.
Bitcoin $BTC is up almost 1600% this decade 📈📈
Federal Reserve just issued a joint statement with 2 regulators confirming that banks can offer Bitcoin and crypto custody.
Source: Bitcoin archive
