Bitcoin (BTC) has recorded its highest level of realized profits in five months as the cryptocurrency briefly surged above $80,000, signaling the market may still have room to extend its rally.
A trader closed a 700 bitcoin short position on Tuesday at a $1.94 million loss, erasing all $1.71 million in profits from 11 consecutive winning trades in a single position gone wrong. Key Takeaways: Wallet 0x004e closed a 700 BTC short on May 5, booking a $1.94M loss on a single trade.
ASST experiences pre-market gains following Strive's addition of 444 BTC to corporate reserves.
Bitcoin moved back above $80,000, which coincided with $532.21 million in net inflows into US spot Bitcoin ETFs on Monday.
As Bitcoin breaks the prolonged market rally seen in the previous months, dormant long-term holders are beginning to reactivate, moving large amounts of Bitcoin in one go.
Price is rising, but participation isn't, suggesting a small group is driving bitcoin higher.
Bitcoin stabilizes at $80,500 after a brief 81k breach as Iran-UAE tensions escalate. How are geopolitical risk and oil surges impacting the crypto market?
GameStop offered $125 per share for eBay in a deal that could require selling its $368 million bitcoin position, testing how corporate crypto treasuries behave under real M&A pressure.
Bitcoin and major cryptocurrencies have staged a notable recovery over the past two weeks, with BTC climbing back toward the $80,000 area from lows near $75,000 — a move underpinned by renewed institutional demand and easing geopolitical risk, according to the market insights team at QCP Capital, one of Asia's largest digital asset trading firms. Related Reading: TON Jumps 30% As Durov Says Telegram Will Take The Lead The broader crypto market has moved in step with the recovery.
U.S. spot bitcoin ETFs drew $532 million on Monday, marking a third straight day of inflows, led by BlackRock and Fidelity.
A trader with a track record of successful bearish calls exited a large Bitcoin (CRYPTO: BTC) short late Monday as the leading cryptocurrency climbed to $81,000. Traders Exits Before Shorts Get Wrecked The trader closed a 700 BTC position valued at $56.68 million at the time of reporting, incurring a $1.94 million loss after holding for nearly 70 hours.
Strive Asset Management reported a quarterly Bitcoin yield of 4.3% and a yearly performance of 18.7% — figures that came alongside its latest purchase announcement and paint a picture of a firm moving with quiet urgency.