JH Kim

On the 14th (local time), on-chain analysis firm Glassnode announced on its official X (formerly Twitter) that the holdings of long-term holders (LTH) of Bitcoin (BTC), who have held for more than 155 days, have decreased for the second time this month, suggesting a potential market peak. According to Glassnode, the Bitcoin held by long-term holders increased from 13.66 million BTC in mid-March to 14.29 million BTC, but has turned to a slight decline since May. In particular, the indicator for the decrease in long-term holder holdings has currently risen to 0.43, which is interpreted as a signal that some long-term holders are selling their assets. Glassnode explained, "In past cases, a decrease in long-term holder holdings often tends to precede market peaks." This analysis suggests that investors need to prepare for the possibility of short-term price adjustments. Meanwhile, BTC is trading at $103,399.62, down 0.27% from the previous day, as of 00:09 on the 15th in the Binance Tether (USDT) market.

On the 14th (local time), cryptocurrency-focused media outlet CoinDesk reported that Bitcoin's (BTC) key technical indicators are signaling a mid-to-long term upward rally. Omkar Godbole, a CoinDesk analyst, stated, "Bitcoin's Moving Average Convergence Divergence (MACD) histogram has turned into the positive (+) territory," adding, "This is a technical structure similar to early 2023 and the second half of last year, during which Bitcoin showed a strong rebound using the 50-week Simple Moving Average (SMA) as support." He added, "In the past five years, there have been a total of five instances where the MACD histogram turned positive, and only in March 2022 did it not lead to an upward trend." This suggests that technically, Bitcoin is likely to continue its rally. A positive turn in the MACD histogram is generally interpreted as a major signal for strengthening buying momentum and trend reversal. Meanwhile, BTC is trading at $103,399.62, down 0.27% from the previous day, as of 00:09 on the 15th in the Binance Tether (USDT) market.

According to The Block, a cryptocurrency-focused media outlet, on the 13th (local time), the United States Securities and Exchange Commission (SEC) has delayed the final decision on whether to allow spot redemption for BlackRock's Bitcoin (BTC) Spot ETF (IBIT). Previously, when the Bitcoin Spot ETF was approved in January last year, the SEC had allowed cash redemption.

While Bitcoin (BTC) is showing strength, some market overheating signals have emerged, suggesting that an adjustment may come soon. On the 13th (local time), the cryptocurrency specialist media Cointelegraph reported that "the open interest size of BTC has approached an all-time high of $68 billion," indicating "excessive positioning in the market, which can lead to increased price volatility in such situations." Andre Dragos, head of Bitwise Research, warned that "the Cryptoasset Sentiment Index, which encompasses market sentiment, capital flows, and on-chain data, has reached its highest level since last November," signaling "a sign of market overheating. A short-term BTC adjustment may occur."

According to cryptocurrency-focused media U.Today on the 13th (local time), the U.S. Securities and Exchange Commission (SEC) has officially confirmed the receipt of an application from 21Shares for the launch of a Dogecoin (DOGE) spot Exchange-Traded Fund (ETF).

An analysis has emerged suggesting that an altcoin season is approaching as Bitcoin (BTC) and USDT dominance decline. On the 13th (local time), the cryptocurrency-focused media outlet Cointelegraph reported, "TOTAL2, which tracks the market capitalization of the top 125 cryptocurrencies excluding Bitcoin, has broken above the downtrend line maintained since January this year," adding, "If it decisively breaks through the resistance level of $1.25 trillion, it could support a clear upward trend." Furthermore, it stated, "This movement suggests the arrival of an altcoin season," explaining, "In addition, Bitcoin dominance has fallen by 4% over the past six days, and USDT dominance is at its lowest level since early February." It added, "If these major trends continue, the likelihood of an altseason starting is high."

According to the virtual asset (cryptocurrency) analysis platform Unfolded on the 13th (local time), the U.S. Securities and Exchange Commission (SEC) has delayed the decision on whether to approve the Grayscale Solana (SOL) spot exchange-traded fund (ETF).

Bitcoin (BTC) temporarily recovered to the $104,000 level. Meanwhile, BTC is trading at $104,158.74, up 1.15% from the previous day, based on the Binance Tether (USDT) market as of 1:31 on the 14th.

According to cryptocurrency media outlet The Block on the 13th (local time), cryptocurrency custody firm BitGo announced that it has formed a partnership with e-commerce company Upexi to support cryptocurrency custody and over-the-counter trading services. Upexi recently announced its intention to manage cryptocurrency assets with a focus on a Solana (SOL)-based financial strategy, increasing its SOL holdings to 595,000 (approximately $100 million). Upexi will manage its digital asset portfolio through BitGo and plans to expand its SOL holdings.

Eric Adams, the Mayor of New York City, emphasized his commitment to making NYC a global hub for cryptocurrencies. According to crypto-specialized media outlet CoinDesk on the 12th (local time), he stated at his official residence, Gracie Mansion, "From my first day in office until now, my goal has remained unchanged: to make New York City the global crypto capital," adding, "We will collaborate with both large corporations and startups to create a crypto-friendly environment." He further mentioned, "Next week, we plan to host the first-ever Crypto Summit in NYC, where public and private sectors will explore ways to utilize cryptocurrencies together."

An analysis has emerged that the US-China tariff agreement is more favorable to the stock market than Bitcoin (BTC). On the 12th (local time), the cryptocurrency media outlet Cointelegraph reported, "The macroeconomic situation played a role in Bitcoin's temporary halt in its upward trend around $105,000," adding, "The US-China trade negotiations are seen as providing more direct and immediate benefits to the stock market than to scarce assets like Bitcoin or gold." Furthermore, it stated, "The reduction in import tariffs is linked to increased corporate sales and improved profit margins, creating a favorable environment for the stock market," and "The lack of confidence among Bitcoin investors is related to the reduced demand for scarce assets due to the suspension of tariff measures." It went on to say, "In fact, after the tariff agreement announcement, the price of gold fell by 3.4%," adding, "However, considering that $2 billion has flowed into the US BTC spot exchange-traded funds (ETFs) from the 1st to the 9th of this month, the likelihood of Bitcoin falling below $100,000 is low." Finally, it added, "This indicates the influx of institutional investors, which is a positive signal for the price."

Charles Hoskinson, co-founder of Cardano (ADA), mentioned that he is planning a stablecoin that provides a level of privacy similar to cash. According to DL News, a cryptocurrency-focused media outlet, on the 12th (local time), he appeared on the eToro podcast, a mobile investment app supporting cryptocurrency trading, and said, "People may not want their transaction information to be tracked by anyone," adding, "Cardano is already operating a $31.5 million stablecoin on its own blockchain and could become the first ecosystem to develop a privacy-based stablecoin."

Bitcoin (BTC) has temporarily recovered the $102,000 level. Meanwhile, BTC is trading at $102,019.99, down 2.50% from the previous day, based on the Binance Tether (USDT) market as of 4:16 on the 13th.

Bitcoin (BTC) has fallen below $107,000, which is analyzed as a short-term technical adjustment. On the 12th (local time), cryptocurrency specialist media Cointelegraph reported, "There may have been selling pressure ahead of the Consumer Price Index (CPI) announcement on the 13th," adding, "However, the adoption speed of BTC in traditional financial sectors and the possibility of improving the regulatory environment for cryptocurrencies still show a bullish market structure and fundamentals." Meanwhile, BTC is trading at $101,722.70 on the Binance Tether (USDT) market as of 3:57 on the 13th, down 2.80% from the previous day.

Bitcoin (BTC) has temporarily returned to the $102,000 level. Meanwhile, BTC is trading at $101,980.02, down 1.85% from the previous day, based on the Binance Tether (USDT) market as of 3:09 on the 13th.

Major whale James Wynn stated on the 12th (local time) via X (formerly Twitter) that "Bitcoin (BTC) has fallen to $102,900 as expected," and "increased the long position to $135 million." He continued, "I am confident that this is the bottom," and "it will soon hit a new all-time high." Previously, he expressed hope that BTC would fall to $102,900 to clear the market once and then increase the long position, predicting that BTC would rise to $112,000~$116,000 today or tomorrow. Meanwhile, BTC is trading at $102,563.84, down 1.62% from the previous day, based on the Binance Tether (USDT) market as of 12:48 AM on the 13th.