News linked to both this project and an event.
According to The Block, Alex Svanevik, CEO of on-chain data platform Nansen, stated that AI trading agents are expected to surpass human traders within the next two years. To this end, Nansen is expanding its platform from on-chain data analysis to direct trade execution, aiming to achieve "all-asset on-chain trading via agents." He mentioned that the platform has launched relevant trading features, with cumulative trading volume exceeding $500 million.
According to a post by Alex Thorn (@intangiblecoins), Head of Research at Galaxy Research, metrics related to Bitcoin long-term holders have all reached all-time highs: Supply held for ≥10 years accounts for 17.7% Long-term holder holdings reach 16.75 million coins Long-term holder Realized Market Cap reaches $836.4 billion Long-term holder average cost basis reaches $50,000 The above data indicates that a large amount of holdings are firmly locked by long-term holders; even though the average price has reached $50,000, they refuse to sell. The market's actual circulating supply continues to tighten, and long-term holder behavior is building solid bottom support for Bitcoin prices.
According to Cointelegraph, Bitcoin address "1KV47" recently completed its first transfer operation in nearly 15 years, moving 30 BTC (approximately $1.88 million) out of the wallet. The address initially received the aforementioned Bitcoin in August 2011. This address is one of 39,069 listed addresses in a New York lawsuit, where plaintiff "Noah Doe" and two Wyoming companies are attempting to claim ownership of these dormant Bitcoins under New York State lost property law. According to data from Galaxy Digital Head of Research Alex Thorn, 31 related addresses have transferred 17,527 BTC in June, a significant increase compared to 4,834 in February. Legal experts point out that address dormancy is not equivalent to abandonment of ownership, and in the absence of proof of private keys, the basis of this lawsuit is "extremely weak".
Bitcoin (BTC) has been trading narrowly between $59,000 and $60,000 for the fifth consecutive day. However, analysts warn that this "calm" market condition may conceal greater risks, with the key issue being that this oscillation is occurring within a downtrend.FxPro's Chief Market Analyst, Alex Kuptsikevich, stated that the current price action resembles Bitcoin's consolidation between $55,000 and $70,000 from March to October 2024, but the contexts differ. The previous consolidation occurred in a rising market, whereas the current oscillation is below support levels. Additionally, both the 50-day and 200-day moving averages are trending downward, indicating the market remains bearish.Kuptsikevich noted that if this consolidation pattern breaks to the downside, rather than forming a base for a rebound, Bitcoin's next significant support zone could be near the $40,000 level.On-chain data is also signaling pressure. CryptoQuant analyst Darkfost indicated that long-term holders may be engaging in loss-making selling behavior. In historical cycles, this phase is typically accompanied by short-term pressure, but it may also become a long-term buying opportunity.Meanwhile, market demand remains relatively weak, with active address counts and on-chain transaction activity both at recent lows. Financial pressure on corporate Bitcoin giant Strategy has also heightened market concerns. Its preferred stock, STRC, recently fell to around $71, while its common stock dropped approximately 25% in a week, hitting its lowest level since February 2024.Strategy previously stated that it might sell over $1 billion worth of its Bitcoin reserves to improve its financial situation. This is seen as a significant shift from founder Michael Saylor's "never sell" strategy.Additionally, a strengthening US dollar and continued capital flows into AI-related assets in the US stock market are exerting pressure on dollar-denominated risk assets like Bitcoin. BTC is currently on track to end the second quarter with a decline of approximately 13%, while US stocks remain strong due to the AI investment boom. (CoinDesk)
Odaily News Alex Svanevik, CEO of on-chain analytics platform Nansen, stated that when enterprises begin effectively using Chinese large language models, the bubble in the AI industry may burst. While the U.S. regulatory environment could limit this process, the overall trend remains that Chinese models are continuously becoming more efficient, capable of running on non-cutting-edge hardware, while global GPU supply (including non-Nvidia chips) is increasing.Alex Svanevik also pointed out that the recent decline in H100 and H200 GPU rental prices reflects a shift in the supply-demand structure of computing power. He raised the question of how to interpret the market signal of declining GPU rental prices. As model efficiency improves alongside expanding computing power supply, the AI infrastructure market may be entering a phase of repricing.
Despite Bitcoin bouncing after falling below $60,000, several market analysts believe this is more likely a technical correction following an oversold condition rather than the start of a new bull market.Analysts at HEX Trust stated that the market has entered an oversold territory. If US inflation data cools and the outflow from spot Bitcoin ETFs slows down, Bitcoin could see further upside. However, a true trend reversal depends on the market’s ability to firmly reclaim the $79,000 to $80,000 range. Until then, any upward movement should be viewed as a corrective rally within a bear market.Alex Kuptsikevich, Chief Analyst at FxPro, is relatively more optimistic. He believes that if Bitcoin can rebound to around $68,000, it could be considered a valid recovery from the downtrend observed between May 11 and June 5.Data shows that the net cumulative outflow from the 11 US spot Bitcoin ETFs over the past four weeks has exceeded $5 billion. On Monday alone, another $91 million flowed out. Analysts point out that ETF fund flows remain one of the key factors determining Bitcoin’s future trajectory.Additionally, the market is closely watching US inflation data scheduled for release on Wednesday. If the inflation figure comes in lower than expected, it could help ease market concerns about further interest rate hikes by the Federal Reserve, thereby providing support for risk assets like Bitcoin. The market currently expects the US inflation rate for May to remain above 4%, significantly higher than the Fed's long-term target of 2%. (CoinDesk)
Odaily An unknown trader sold approximately $1.3 billion worth of BlackRock’s spot Bitcoin ETF (IBIT) on a dark pool on Tuesday, sparking market attention.Data shows the trader sold 29.2 million shares of IBIT at $43.16 per share around 14:30 UTC. Consequently, Bitcoin’s price dropped from $77,875 to $76,720 within 10 minutes, a decline of about 1.5%, before further dipping to around $75,600.Alex Thorn, Head of Research at Galaxy Digital, stated this is the largest IBIT dark pool trade he has ever seen. Bloomberg ETF analyst Eric Balchunas noted that the trade size was 22 times larger than the second-largest IBIT sell order of the day.Additionally, U.S. spot Bitcoin ETFs have experienced net outflows for eight consecutive trading days. On Tuesday alone, net outflows totaled approximately $333.6 million, with IBIT seeing outflows of about $192.4 million. Since May 14, cumulative net outflows from Bitcoin ETFs have exceeded $2 billion. Reports indicate that Jane Street reduced its Bitcoin ETF holdings by about 70% in the first quarter, while Goldman Sachs also trimmed its positions by approximately 10%. (Cointelegraph)
Alex Thorn, Head of Research at Galaxy, stated on platform X that spot Bitcoin exchange-traded products continued to see capital outflows this week, with net outflows reaching $1.2 billion, making it the third most severe week of outflows since 2026.
Alex Thorn (@intangiblecoins), Head of Research at Galaxy Research, published a post revealing that Galaxy Research has released a new report refuting banking industry claims that the GENIUS Act would erode U.S. bank deposits—and providing quantitative estimates. Key findings from the report include: - Under the GENIUS Act framework, 60%–70% of new stablecoin issuance would originate overseas; inflows of foreign deposits would be approximately twice the volume of domestic deposit migration—indicating a net increase in total deposits rather than a zero-sum reallocation. - Each newly minted GENIUS stablecoin would generate approximately $0.32 in net credit for the U.S. economy. - In the base-case scenario, total credit expansion by 2030 would reach roughly $400 billion; under the optimistic scenario, it could reach $1.2 trillion. - Short-term U.S. Treasury yields (T-bills) would compress by 3–5 basis points, potentially saving taxpayers up to $3 billion annually in borrowing costs. - The report also notes that the interest pass-through mechanism does not pose an existential threat to U.S. banks—it merely represents a reallocation of profit margins and will not reduce overall credit capacity.
Bitcoin briefly approached the key 200-day simple moving average (SMA) around $83,300 on Wednesday but failed to achieve a decisive breakout, subsequently falling back below $81,000. Meanwhile, the broader crypto market weakened, with the CoinDesk Smart Contract Platform Index falling over 2% in the past 24 hours, making it the worst-performing major sector. The 200-day moving average is widely regarded by the market as a key indicator for measuring long-term trends. If BTC can hold above this level, it would further reinforce the market narrative that the bear market, which saw prices fall below $63,000 in February, has ended and a new bull market has begun.However, a similar situation occurred historically in March 2022, when Bitcoin briefly broke above and tested the 200-day moving average before ultimately falling to around $20,000 by June of that year. As a result, some analysts are warning of the risk of a "fakeout."Analytics firm Marex stated that Bitcoin's ability to continue its upward trajectory depends on three factors: sustained spot buying pressure, a continued tightening of exchange supply, and a derivatives market that remains healthy without overheating. If all three factors align positively, Bitcoin could quickly open up the path towards the $85,000 range. Alex Kuptsikevich, Chief Market Analyst at FxPro, noted that this pullback appears more like a brief consolidation within an uptrend rather than an end to the trend. However, he also cautioned that the daily RSI had previously entered overbought territory, and similar instances in the past were accompanied by significant corrections.Additionally, the 10-year US Treasury yield has fallen to 4.32% from its early-month high of 4.46%, which is viewed as a potential positive factor for risk assets. (CoinDesk)