Son Min

The price difference between Bitcoin (BTC) spot and perpetual futures on the global cryptocurrency exchange Binance has recorded negative values, indicating an accumulation phase, according to analysis. On the 9th (local time), BorisVest, a contributor at CryptoQuant, stated in a report, "Since December last year, the price gap between Bitcoin spot and futures on Binance has consistently remained negative," adding, "This means the spot price is higher than the futures price, signaling weak participation from futures traders." He continued, "This tendency generally appears when the market enters an 'accumulation' phase." However, if this indicator turns positive, there may be a correction. The analyst noted, "When the Bitcoin futures price exceeds the spot price, it signals a significant influx of long leverage funds," and explained, "In such cases, downward pressure for leverage liquidation may intensify."

Canadian fintech company LQWD Technologies has announced that it will increase its funding for Bitcoin (BTC) reserves to 12.3 million Canadian dollars (about $9 million). On the 9th (local time), LQWD stated on its official website, "We plan to raise the funding for additional Bitcoin purchases to 12.3 million Canadian dollars." Meanwhile, the day before, LQWD purchased 10 BTC. The company currently holds 181 Bitcoins.

Swedish healthcare company 'H100 Group', which has adopted a Bitcoin (BTC) accumulation strategy, has secured an additional SEK 516 million (approximately $54 million). On the 9th (local time), H100 announced in a press release, "We have raised an additional SEK 516 million through the issuance of shares and convertible bonds," and added, "Total funds secured so far have reached SEK 921 million (about $96 million)." The funds raised are planned to be used for Bitcoin accumulation.

An analysis has shown that coverage of Bitcoin (BTC) by major US media outlets has remained low. On the 9th (local time), market analysis firm Perception reported, "In the past Q2, The New York Times, The Wall Street Journal, and Financial Times published a total of 13 articles about Bitcoin," adding, "This constitutes only 2% of all crypto asset (cryptocurrency) coverage in the media during Q2." The report went on to state, "Coverage of Bitcoin by traditional media is still at a very insufficient level." Meanwhile, it was found that in the past Q2, 18 media outlets in the United States published 1,116 Bitcoin-related articles. Of these, positive coverage accounted for 31%, while neutral and negative articles made up 41% and 28%, respectively.

In the past 24 hours, the liquidation volume of positions in the perpetual futures market for digital assets (cryptocurrencies) reached $140.08 million. According to CoinGlass data on the 9th (local time), a total of $140.08 million worth of futures positions were liquidated in the digital asset market over the last 24 hours. As Ethereum (ETH) surpassed $2,600, there were more liquidations of short (sell) positions. Specifically, $43.11 million in long positions were liquidated, and $96.97 million in short positions were liquidated. The largest liquidation took place in Ethereum. Over the 24-hour period, Ethereum saw liquidations totaling $46.74 million, with $8.19 million in long positions and $38.56 million in short positions. Bitcoin (BTC) ranked second in the same period with $24.59 million in liquidations. The liquidation volumes for long and short positions were $6.21 million and $18.39 million, respectively. As of 3:37 PM, based on the Binance USDT market, Bitcoin and Ethereum were up 0.44% and 2.79%, trading at $108,732 and $2,625, respectively.

It has been revealed that, over the past two weeks, whales have stocked up a large amount of Cardano (ADA). On the 9th (local time), cryptocurrency analyst Ali Martinez stated on X (formerly Twitter), "Over the past two weeks, whales have accumulated more than 120 million Cardano." This is equivalent to $71.28 million (about ₩9.8 billion) at the current Cardano price. As of 3:12 PM, Cardano is trading at $0.594 on Binance USDT market, up 3.63% from 24 hours ago.

The Spanish coffee chain 'Vanadi' has reportedly acquired an additional 1 Bitcoin (BTC). According to NLNico, a cryptocurrency news channel, on the 8th (local time), Vanadi announced in its official disclosure, "As part of our Bitcoin accumulation strategy, we have purchased an additional 1 BTC," adding, "We now hold a total of 70 BTC." Meanwhile, on June 30 (local time), Vanadi shareholders approved a Bitcoin investment plan worth up to €1 billion.

Tether (USDT), the issuer of the dollar-based stablecoin Tether, has reportedly made a strategic investment in the blockchain analytics company Crystal Intelligence. On the 8th (local time), Tether announced on its official website, "We have made a strategic investment in Crystal Intelligence," adding, "This investment is intended to prevent the illegal use of stablecoins." Previously, the two companies collaborated in developing the platform 'Scam Alert,' which discloses wallet addresses associated with scams or illegal activities. Paolo Ardoino, CEO of Tether, said, "Tether is working hard to fight against illegal activities," and added, "This strategic investment will further strengthen our ability to track illicit funds."

NASDAQ-listed DeFi Development Corp has acquired additional Solana (SOL). On the 8th (local time), DeFi Development Corp announced on X (formerly Twitter) that it “purchased an additional 47,272 SOL, equivalent to $7.19 million,” adding, “Currently, we are holding 690,420 Solana.” It further stated that “the acquired Solana will be staked immediately to generate additional income.” As of 10:44 PM, Solana is trading at $152 on the Binance USDT market, up 0.39% from 24 hours ago.

It has been reported that Binance, a global cryptocurrency exchange, is nearing a 37% market share in Bitcoin spot trading. On the 8th (local time), CryptoQuant announced on X (formerly Twitter), "In the first half of this year, Binance accounted for 37.34% of the global Bitcoin spot trading volume." This amounts to approximately $344 billion, an overwhelming level compared to other exchanges. The combined market share of cryptocurrency exchanges such as Bybit, Coinbase, and OKX was only 29%.

The trading volume dominance of Bitcoin (BTC) spot Exchange-Traded Funds (ETFs) has reached an all-time high. On the 8th (local time), Unfolded announced through X (formerly Twitter) that "Bitcoin spot ETF trading volume share has set a record high." According to the attached data, the trading volume of Bitcoin spot ETFs compared to the total Bitcoin spot market volume has steadily increased and surpassed 30%.

NASDAQ-listed online technology company SharpLink Gaming has reportedly acquired an additional 7,689 Ethereum (ETH). On the 8th (local time), SharpLink Gaming announced on X (formerly Twitter), "From June 28 to the 4th, we purchased an additional 7,689 ETH," adding, "This amounts to approximately $19.2 million, with an average purchase price per coin of $2,501." They further explained, "All of our Ethereum holdings are being utilized for staking and restaking," and added, "Through this, we secured around 100 ETH last week." Currently, SharpLink Gaming holds 205,634 ETH.

Blockchain company BTCS, listed on NASDAQ, has announced a $100 million fundraising plan to acquire additional Ethereum (ETH). On the 8th (local time), BTCS stated on X (formerly Twitter), "We plan to raise $100 million this year to accumulate more Ethereum." The fundraising methods presented include: △convertible bonds △at-the-market (ATM) stock offering △staking rewards, among others. BTCS said, "Through this plan, we aim to increase the amount of Ethereum held per share, thereby enhancing shareholder value," adding, "We will take the lead in building a company focused on Ethereum infrastructure." Currently, BTCS holds 14,600 ETH.

Truth Social, the social media company owned by former U.S. President Donald Trump, has submitted an application (S-1 filing) for a virtual asset (cryptocurrency) blue chip exchange-traded fund (ETF). According to Bloomberg ETF analyst Eric Balchunas on the 8th (local time), Truth Social has filed an application for a 'Virtual Asset Blue Chip ETF' with the U.S. Securities and Exchange Commission (SEC). This ETF is comprised of Bitcoin (BTC), Ethereum (ETH), Solana (SOL), XRP, and Cronos (CRO). The specific allocation is Bitcoin (70%), Ethereum (15%), Solana (15%), Cronos (5%), and XRP (2%). Meanwhile, Truth Social has previously submitted applications for the Bitcoin ETF—'Truth Social Bitcoin ETF'—and the Ethereum ETF, known as the 'Truth Social Ethereum ETF.'

KULR Technology Group, a space technology company listed on the New York Stock Exchange, has reportedly secured a $20 million credit line. On the 8th (local time), KULR Technology announced via X (formerly Twitter) that it had secured a total $20 million credit line from Coinbase Credit, a subsidiary of Coinbase. The loan agreement was signed with a portion of the company’s existing Bitcoin holdings as collateral. The secured funds are planned to be used for Bitcoin investments. As of 9:18 PM, Bitcoin was trading at $108,775 on Binance’s USDT market, up 0.33% from 24 hours earlier.

The size of open interest (OI) in Bitcoin (BTC) futures at the Chicago Mercantile Exchange (CME) has surpassed that of the global virtual asset (cryptocurrency) exchange Binance. On the 8th (local time), CoinGlass stated in its '2025 First Half Report' that "the size of open interest in Bitcoin futures hit an all-time high in the first half of this year," and added, "Particular attention should be paid to the increase in market share of CME, a traditional exchange, in the futures market." According to CoinGlass data, as of June 1st (local time), CME's Bitcoin futures open interest reached 158,300 BTC, overtaking Binance (118,700 BTC). This is the largest open interest among all Bitcoin futures exchanges. The report said, "This shows that the number of institutional investors participating in the virtual asset (cryptocurrency) market is increasing," and added, "CME and spot Bitcoin ETFs are serving as major gateways for institutional demand." It also stated, "Binance is still the largest exchange, but its market share has been partially diluted."

It has been revealed that the dollar-based stablecoin issuer Tether (USDT) and USDC issuer Circle earned $790 million over the past month. On the 8th (local time), Messari stated via X (formerly Twitter), "Tether and Circle recorded earnings of $790 million over the past 30 days," adding, "This amount is six times larger than the combined earnings of the bottom eight protocols." Messari further commented, "They are dominating the cryptocurrency industry."

It was revealed that MicroStrategy, a global Bitcoin (BTC) holding company, possesses cash equivalents at a level similar to NVIDIA. According to CoinDesk on the 8th (local time), MicroStrategy holds Bitcoin worth $6.5 billion and ranks 11th among U.S. companies in terms of cash and cash equivalents. This amount is on par with NVIDIA, which holds around $6.6 billion in cash equivalents. The media outlet stated, "MicroStrategy owns assets at a level similar to those of leading cash-holding companies," and added, "Positive outcomes are also being achieved from preferred stock issuances aimed at additional Bitcoin purchases." Meanwhile, the top spot went to Berkshire Hathaway, which holds cash assets worth $410 billion.

Metaplanet, regarded as a strategic player in Japan, is reportedly considering acquiring a local digital bank. On the 8th (local time), Simon Gerovich, CEO of Metaplanet, stated in an interview with the Financial Times, "We are currently focused on securing as much Bitcoin (BTC) as possible," adding, "The next goal is to acquire profitable businesses by raising funds collateralized with Bitcoin." He continued, "We are also considering acquiring a digital bank in Japan in order to provide much better financial services than the current ones." Meanwhile, Metaplanet currently holds 15,555 BTC.

There is an opinion that Bitcoin (BTC) investors’ unrealized profits have risen sharply, potentially leading to strong selling pressure in the future. On the 8th (local time), Cointelegraph stated via X (formerly Twitter), "The unrealized profits of Bitcoin investors total $1.2 trillion (approximately ₩1,643 trillion)," and, "If the market trend changes, there could be strong selling pressure." As of 5:53 p.m., based on the Binance USDT market, Bitcoin is trading at $108,290, down 0.65% from 24 hours ago.

Remixpoint, a listed Japanese company that has adopted a Bitcoin (BTC) investment strategy, has revealed plans to pay its Chief Executive Officer (CEO)'s monthly salary in BTC. On the 8th (local time), Remixpoint announced via X (formerly Twitter), "The company has decided to pay the CEO's salary entirely in Bitcoin," adding, "This is the first case among listed Japanese companies." Currently, Remixpoint holds 1051BTC.

It has been reported that whales accumulated a large quantity of Ethereum (ETH) over the past weekend. On the 8th (local time), cryptocurrency analyst Ali Martinez announced on X (formerly Twitter), "Over the weekend, whales accumulated more than 200,000 Ethereum." This amount is equivalent to $511.8 million (about ₩699.9 billion) at the current Ethereum price. As of 5:15 p.m., on the Binance USDT market, Ethereum is trading at $2,560, down 0.58% compared to 24 hours ago.

An analysis has come out suggesting that Bitcoin (BTC)'s Bollinger Bands are tightening, thereby increasing the likelihood of a bullish trend. On the 8th (local time), Axel Adler Jr., a contributor to CryptoQuant, stated via X (formerly Twitter), "Bitcoin is currently experiencing a typical Bollinger Bands squeeze," adding, "the probability of a breakout to the upside for Bitcoin is very high." He especially focused on the range between the upper and lower Bollinger Bands. The analyst commented, "Currently, the range between the upper and lower Bollinger Bands is 7.7%, the lowest level in this bull market," and remarked, "This signals that upward pressure is gradually accumulating in the market, which could soon result in strong price volatility." He also referenced past cases. The analyst said, "Of the six occurrences of a Bollinger Bands squeeze in this bull market, four resulted in immediate surges, while the other two led to advances following a brief correction," emphasizing, "It is highly likely that a similar pattern will occur this time as well."