Bitcoin's supply on exchanges dropped to 5.6%, its lowest level since 2018, while net flows show a balance between deposits and withdrawals. Ethereum raised its exchange supply from 4.2% to 4.6% in ten days, driven by the inflow of approximately 240,000 ETH.
Bitcoin faces resistance above $82,000 again, though analyst Michaël van de Poppe projects a move toward $90,000 in the coming days. The 21-day moving average has acted as key support since early April; a break below it would confirm a medium-term correction.
Sellers have pulled Bitcoin back below the $79,000 level, but buying may emerge as the price nears the $76,000 support.
Strategy bonds worth $1.5 billion are being repurchased as Michael Saylor's firm lists Bitcoin sales as a potential funding source. Strategy filed a Form 8-K on Friday announcing it has agreed to repurchase approximately $1.
MARA inclusion within $220 million-$750 million trade flow raises questions over indirect Bitcoin exposure via crypto-linked equities.
Bitcoin's (CRYPTO: BTC) recent rally toward the $74,000-$87,000 region fits a classic counter trend bounce rather than the start of a new bull market, according to a prominent analyst. Why Is A Summer Weakness Predicted Crypto analyst Kevin who earlier called Bitcoin's rejection near $120,000-$125,000 says the market may still face another major leg lower before the next true bull cycle begins.
IREN, a prominent Bitcoin mining firm, completed a $3 billion convertible notes offering to accelerate its AI cloud infrastructure buildout.
Kraken is moving its wrapped Bitcoin (kBTC) to Chainlink CCIP as bridge-security fears continue spreading across DeFi, turning the bridge-security debate into a decision about wrapped-Bitcoin infrastructure. In a recent announcement, the exchange said it is deprecating its existing cross-chain provider and moving all Kraken Wrapped Bitcoin to Chainlink's Cross-Chain Interoperability Protocol.
Bitcoin (CRYPTO: BTC) is battling the 200-day moving average at $82,400, the same resistance level that capped bear market rallies in 2014, 2018, and 2022 before major crashes. 200-Day MA: The Line Between $95,000 And $70,000 Analyst Benjamin Cowen pointed out that Bitcoin rallied 37% from $60,000 in February to $82,000, mirroring the 2022 bear market when a 43% rally stalled at the identical technical level between March and May.
Strategy (NASDAQ: MSTR), the largest corporate holder of bitcoin, announced plans to repurchase approximately $1.5 billion of its outstanding 0% Convertible Senior Notes due 2029 through privately negotiated deals with select investors. The move was disclosed in a regulatory filing released Friday and highlights the companys ongoing efforts to manage its debt structure while navigating volatile cryptocurrency markets.
Strategy, the world's first and largest Bitcoin Treasury led by its founder Michael Saylor, recently resumed its weekly BTC buying spree after pausing purchases ahead of its earnings call on May 5. With the company now in buying mode, Saylor predicts Bitcoin's price will rise 30% annually over the next 20 years.
While Bitcoin has pulled a strong price move following its latest rally, it appears that whales are repositioning their funds ahead of what may be coming.