News linked to both this project and an event.
据 CrowdFundInsider 报道，Bitfinex 分析师表示，比特币当前在 6 万美元下方持续承压，较历史高点 13 万美元以上已显著回落，市场此前押注的持续上涨趋势正面临明显逆转压力。现货市场出现“结构性撤离”，ETF 持续资金流出尚未结束，同时加密财库类需求渠道明显降温，使市场缺乏关键买盘支撑。
on-chain data analytics firm Glassnode has released its latest weekly market summary, noting that Bitcoin has briefly stabilized around the $60,000 level. However, the market is characterized by strong defensive traits and a lack of bullish confidence.The spot market is range-bound, with trading activity slightly increasing. Yet, capital continues to flow out on a net basis, and market liquidity is primarily driven by distribution, with no large-scale accumulation observed. The derivatives market is persistently deleveraging, with traders prioritizing downside hedging protection and showing low willingness for directional long positions. Funding rates remain low, indicating a generally weak risk appetite. Institutional pressure is significant, as US spot Bitcoin ETFs are collectively in a state of unrealized losses, with continued net capital outflows and low willingness among institutions to increase positions.Glassnode states that the current market is undergoing a period of structural adjustment and capital contraction. The $60,000 level provides only temporary support, and there are no signs of recovery in spot orders, derivatives positions, or institutional capital. For a sustained upward trend to emerge, a significant restoration of confidence among buyers is required.
on-chain analyst Ember CN posted on platform X, stating that MicroStrategy did not make any BTC purchases last week. Bitcoin treasury company Strategy (MSTR) currently holds a total of 847,363 BTC, valued at $50.842 billion, with an average cost price of $75,651, an unrealized loss of $13.262 billion, and an unrealized loss rate of 20.7%. Ethereum treasury company BitMine (BMNR) last week purchased 27,084 ETH at approximately $1,648 each, valued at $44.63 million. It currently holds a total of 5.70004 million ETH, valued at $8.978 billion, with an average cost price of $3,399, an unrealized loss of $10.397 billion, and an unrealized loss rate of 53.6%.
On-chain analyst Ember posted on X platform, stating that Strategy currently has $2.55 billion in dollar reserves, which can support interest payments for one and a half years. Strategy may sell some BTC at any time soon, raising up to $1.25 billion to replenish dollar reserves, which equates to approximately 20,600 BTC at current prices. Strategy may also conduct share buybacks of up to $1 billion.
CryptoQuant analyst Darkfost pointed out in a post that the Bitcoin S2F regression model is gradually approaching historically extreme undervalued zones. This model is used to measure the deviation of market price relative to S2F fair value, thereby identifying significant overvalued or undervalued phases.
According to Onchain Lens monitoring, a whale has withdrawn an additional 340 BTC, worth $20.34 million, from Binance. This whale currently holds 2,510 BTC across two wallets, valued at $150.3 million.
CryptoQuant 分析师 Darkfost 表示，比特币在再次测试 6 万美元关口后，币安与欧易相关存款地址出现大规模比特币流入，其中币安流入超过 22 万枚 BTC，欧易流入超过 33 万枚 BTC，合计超过 55 万枚 BTC，显著高于两平台年内平均水平。
CryptoQuant analyst MorenoDV_ pointed out in a post that the current reading of the Bitcoin UTXO Realized Profit/Loss model has fallen into the range commonly seen during historical bottoms, indicating the market is undergoing a deeper internal cleanup. However, the analyst emphasized that this does not mean the bottom has been confirmed—the 365-day moving average needs to decline further to prove that the market's long-term profit structure has been fully reset, rather than being merely a short-term oversold reaction. Although a brief rebound triggered by a short squeeze may occur currently, if the profit/loss ratio fails to rebuild sustainably, it should not be regarded as a signal of structural recovery. Overall, signs of BTC internal cleanup are emerging, but historical patterns indicate the market may still need to endure more pressure before fully exiting this bear market.
Miller Tabak strategist Matt Maley and 22V Research technical strategist John Roque believe Bitcoin is at a key technical indicator level.Matt Maley stated that if Bitcoin declines further from its current level of around $60,000, it could amplify negative investor sentiment. Although Wall Street firms continue to invest in digital assets, retail investors, who have historically been the main force driving cryptocurrency rallies, have shifted their focus to high-growth AI and tech stocks. Recent significant outflows from Bitcoin ETFs indicate waning investor enthusiasm. Cryptocurrencies are also showing signs of decoupling from the stock market.John Roque noted that Bitcoin is retesting its first downside target of $60,000. If it breaks below this level, it implies a potential drop to $400,000. Matt Maley added that Congress might pass a crypto structure bill with clearer rules, which would reduce uncertainty and encourage institutional participation in the long run. Furthermore, Bitcoin ETFs experienced their largest monthly outflow since 2024 recently. (CNBC)
The report states that this indicator suggests the market is entering a bottoming-out phase, possibly presenting a strategically significant accumulation opportunity.
According to Cointelegraph, Fidelity Digital Assets has rebutted concerns in a new research report that Bitcoin’s long-term security will deteriorate as mining rewards decline, asserting that the network’s economic incentives remain sufficient to secure the blockchain over the long term. Authored by Fidelity research analyst Daniel Gray, the report reiterates that Bitcoin’s security depends not only on block rewards but also on transaction fees and market-driven economic incentives, which will continue to motivate miners to protect the network—and render sustained attacks prohibitively costly. The report challenges a longstanding critique that Bitcoin’s security is weakened every four years by the halving event, which reduces new coin issuance. It notes that since April 20, 2024, Bitcoin miners have received a subsidy of 3.125 BTC per block—down from 6.25 BTC in the previous halving cycle—but this reduction in issuance has not translated into diminished miner incentives, as Bitcoin’s price appreciation has more than offset the decline in block rewards. Gray points out that average daily miner revenue has surged from approximately $26,300 during Bitcoin’s first halving cycle to over $40.2 million today. The report also notes that although Fidelity views the long-term incentive structure as sound, many publicly listed mining companies are currently facing financial pressure, with some diversifying into artificial intelligence and high-performance computing. VanEck recently
according to on-chain analyst Yu Jin’s monitoring, whale sat0shi777 (0x50b...9f20) opened a long position of 468 BTC at a price of $62,729 on the 24th, valued at $29.38 million. Subsequently, BTC dropped below $60,000. Yesterday morning, after the decline, it opened a short position of 47,500 ETH at a price of $1,536, valued at $72.94 million. After that, ETH did not continue to decline.Currently, its positions worth $102 million are simultaneously experiencing floating losses, with the BTC long position floating a loss of $1.86 million and the ETH short position floating a loss of $1.23 million.
The Kobeissi Letter posted an analysis pointing out that since April, US gold and Bitcoin-related ETFs have seen cumulative net outflows of approximately $12 billion, while semiconductor ETFs recorded net inflows of about $20 billion over the same period, with capital clearly concentrating on tech growth sectors. This trend accelerated further in mid-May: outflows from gold and Bitcoin ETFs more than tripled, while inflows into semiconductor ETFs doubled. In terms of market performance, the world's largest gold ETF, GLD, has fallen about 13% since early April, while the Bitcoin ETF IBIT has dropped approximately 12% over the same period. In contrast, semiconductor ETFs SOXX and SMH have risen by roughly 81% and 60%, respectively. The analysis suggests that the current market exhibits a clear "risk appetite shift," with retail capital accelerating its flow from safe-haven assets and crypto assets into high-growth semiconductor and AI-related sectors, driving the market in an unprecedented manner.
According to Farside Investors data, U.S. spot Bitcoin ETFs recorded a combined net outflow of $1.7873 billion this week. Specifically, BlackRock’s IBIT, Fidelity’s FBTC, and Grayscale’s GBTC saw net outflows of $1.304 billion, $315 million, and $135 million, respectively.
Odaily Ripple CEO Brad Garlinghouse stated in a recent CNBC interview that he remains long-term bullish on Bitcoin, while strongly criticizing Michael Saylor and his strategy of continuously purchasing Bitcoin by financing through preferred stock, arguing that this "financial engineering" approach is negatively impacting the crypto market.Garlinghouse pointed out that Strategy's reliance on issuing preferred stock (such as STRC) to raise funds for Bitcoin purchases essentially acts as a distraction in the market rather than creating long-term value. He emphasized: "Financial engineering does not create long-term value; the long-term value of digital assets comes from real utility." He specifically noted that STRC's stock price has fallen to a discount of approximately 25% from its par value, which he described as a "strong vote of no confidence" in that financing structure. Against the backdrop of market pressure this week, Strategy's common stock hit its lowest level since February 2024, and Bitcoin briefly fell below $59,000.On the market front, a CryptoQuant report indicated that if the dividend structure continues, Strategy's cash buffer has decreased from over seven years to approximately 14 months, suggesting a pause in Bitcoin purchases and a rebuilding of reserve funds. Currently, STRC trading below $100 has also rendered its "issue tokens—buy Bitcoin" funding flywheel temporarily ineffective. However, Benchmark-StoneX analyst Mark Palmer believes this model reflects more of a "decline in efficiency" rather than a systemic breakdown. Meanwhile, Ripple continues to adopt an industry-contrarian perspective, reiterating the distinct value path of its ecosystem asset XRP compared to Bitcoin. (CoinDesk)
Analyst Ai pointed out that over the past decade, Bitcoin's 200-week simple moving average (200-week SMA) has been regarded as a core indicator for judging "cycle bottoms." Historically, every time the price touched or fell below this moving average, it was accompanied by a long-term macro accumulation window, followed by a strong upward cycle. Reviewing historical performance:August 2015: Touched the 200-week MA and then started a bull run, with cumulative gains exceeding 8,500%December 2018: Bounced approximately 267% after testing this moving averageMarch 2020: Confirmed support after bottoming out due to the pandemic liquidity shock, followed by a rise of 1,125%June 2022: Fell below for the first time and remained below the moving average for a long period until reclaiming it in December, which triggered a rally of approximately 680%In the current market, the 200-week MA is located around $63,500, while Bitcoin's current price is trading below $60,000. Analysts believe this has already entered a typical long-term value accumulation zone.At the same time, analysts also caution that potential downside risks remain. In the short term, a pullback to $54,000 is possible, and in extreme cases, testing the $40,000 range cannot be ruled out. However, overall, adopting a Dollar-Cost Averaging (DCA) strategy for gradual position building is more suitable.Regarding key observation points, the $63,500 level is seen as the "bull-bear dividing line." If Bitcoin can firmly reclaim and confirm the 200-week MA as macro support on a higher time frame, historical patterns suggest it could signal that the early stages of a new bull cycle have already begun.
Analyst Ali Charts believes that Bitcoin is currently in a historically significant long-term accumulation zone. He points out that the 200-week simple moving average has historically served as a key demarcation line between Bitcoin’s bull and bear cycles; regaining and holding above this level could signal the early stage of a new bull market.
the price of Bitcoin fell to around $59,400 today. On Thursday, spot Bitcoin ETFs in the U.S. saw net outflows of nearly $691 million, marking the largest single-day outflow since May 27.At the same time, approximately $10.6 billion worth of Bitcoin options are set to expire on Friday. Over the past 24 hours, the total value of liquidated leveraged cryptocurrency positions across exchanges exceeded $1.1 billion, with long position liquidations reaching $875 million. Bitcoin is currently down about 53% from its all-time high of $126,080 set in October 2025. Its price fluctuated between $58,189 and $60,724 over the past 24 hours, bringing its total market capitalization to around $1.18 trillion. (decrypt)
U.S. spot Bitcoin and Ethereum ETFs continued to experience net outflows yesterday, with Bitcoin ETFs seeing approximately $444.5 million in net outflows and Ethereum ETFs recording $12.8 million in net outflows.
according to monitoring by on-chain analyst Ai Yi, after closing a short position worth $165 million and taking a profit of $3.277 million, a whale opened another short position worth $70.76 million the same night. The whale currently holds short positions on 912.93 BTC ($54.98 million) and 10,000 ETH ($15.83 million), with entry prices of $59,137 and $1,532 respectively, resulting in an unrealized loss of $1.418 million.