Son Min

Bitcoin (BTC) has surpassed $90,000. As of 10:41 PM on the 22nd (local time), Bitcoin is trading at $90,180 on the Binance USDT market, up 3.13% from 24 hours ago. The rise in Bitcoin is attributed to the sell-off of U.S. assets due to the conflict between President Trump and the Federal Reserve (Fed). QCP Capital reported, "Due to Trump's persistent demands for rate cuts and rumors of Fed Chair Jerome Powell's dismissal, there is a massive outflow of funds from U.S. stocks, bonds, and dollars," and "Funds withdrawn from U.S. assets are flowing into Bitcoin." The record high of gold prices (at $3,500 per ounce) and the increase in global liquidity are also acting as favorable factors for Bitcoin. Virtual asset analyst Cas Aave said, "Historically, after gold hits a new high, Bitcoin tends to follow suit," and "The record high in global M2 (a liquidity indicator including cash, demand deposits, and time deposits under two years) will also be a significant positive for Bitcoin fund inflows."

Bitcoin (BTC) has exceeded $89,000. As of 10 PM on the 22nd (local time), Bitcoin is trading at $89,075 on the Binance USDT market, up 2.35% from 24 hours ago. The rise in Bitcoin is attributed to the conflict between US President Trump and the Federal Reserve (Fed). Additionally, with rumors of the dismissal of Jerome Powell, the Fed Chairman, market uncertainty is increasing, and funds flowing out of US assets are interpreted as flowing into Bitcoin.

Global cryptocurrency exchange Binance is listing perpetual futures for Hyperrain (HYPER). On the 22nd (local time), Binance announced on its official website, "We will list HYPER/USDT perpetual futures at 22:00 (KST) today." Up to 75x leverage is supported.

Last week, global virtual asset (cryptocurrency) investment products saw a net inflow of $6 million. This marks a shift to inflows after recording net outflows for the previous two weeks. On the 31st (local time), CoinShares reported this in a report, stating, "Inflow of funds into virtual asset products from countries other than the United States led to the net inflow." According to the data, there was a net outflow of $71 million from U.S. virtual asset investment products last week. However, large inflows from countries such as Switzerland ($43.7 million), Germany ($22.3 million), and Canada ($940,000) are believed to have offset the outflows. Global Bitcoin (BTC) products recorded a net outflow of $6 million. Ethereum (ETH) products also saw an outflow of $26.7 million, continuing a negative trend. However, the flow of XRP products is positive. Last week, XRP products saw an inflow of $37.7 million, recording the largest inflow among all products. The total inflow this year amounts to $214 million.

As U.S. President Donald Trump continues to pressure the Federal Reserve (Fed), an analysis has emerged suggesting that Bitcoin (BTC), along with gold, will benefit. On the 22nd (local time), QCP Capital stated via Telegram, "Due to Trump's persistent demands for rate cuts and rumors of Federal Reserve Chairman Jerome Powell's dismissal, there is a massive outflow of funds from U.S. stocks, bonds, and dollars," adding, "As market anxiety grows, Bitcoin, along with gold, is emerging as a risk hedge." Furthermore, it was noted that funds exiting U.S. assets are flowing into Bitcoin. QCP mentioned, "During U.S. stock market hours, Bitcoin spot trading volume is at its highest level since early April," and "Coinbase premium has hit a multi-month high, and the previous day, Bitcoin spot Exchange-Traded Fund (ETF) recorded the largest net inflow ($381.9 million) since January." This indicates that, along with gold, Bitcoin is also experiencing capital inflows. As of 7:46 PM, Bitcoin is trading at $88,516 on the Binance USDT market, up 1.44% from 24 hours ago.

The BTC/Nasdaq ratio, which represents the price of Bitcoin (BTC) relative to the U.S. Nasdaq index, has reached its highest level since January. Despite macroeconomic uncertainties, Bitcoin is interpreted to be performing more positively than Nasdaq. According to CoinDesk on the 22nd (local time), the current BTC/Nasdaq ratio is 4.96, marking the highest level since January. This figure is close to the all-time high of 5.08 recorded in January when Bitcoin hit its all-time high, suggesting that Bitcoin is showing strength compared to Nasdaq despite recent uncertainties. The media stated, "Bitcoin shows superior performance in both rises and falls compared to Nasdaq as it goes through bullish cycles," and explained, "Since the beginning of the year, Bitcoin has only fallen by 6%, while Nasdaq has fallen by about 15%." Meanwhile, companies holding Bitcoin also showed relative strength in declines. Strategy rose by 6% compared to the beginning of the year, but the technology-focused ETF QQQ fell by about 15%.

Bitcoin (BTC) perpetual futures open interest (OI) and spot trading volume have significantly increased compared to the previous day. On the 22nd (local time), Glassnode reported on X (formerly Twitter) that "Bitcoin futures open interest rose by $2.4 billion from the previous day ($36.2 billion) to reach $38.6 billion," evaluating it as "the highest level since the end of March." It further stated, "A large influx of new funds is also entering the spot market," and "during the same period, Bitcoin spot trading volume surged from $2.9 billion to $8.0 billion." As of 6:40 PM, Bitcoin is trading at $88,481 on the Binance USDT market, up 1.12% from 24 hours ago.

An analysis has emerged that a large amount of Chainlink (LINK) has been withdrawn from exchanges over the past month. On the 22nd (local time), IntoTheBlock stated on X (formerly Twitter) that "over $120 million worth of Chainlink has been withdrawn from exchanges in the last 30 days," indicating "a whale investor's accumulation movement." As of 6:24 PM, Chainlink is trading at $13.36 on the Binance USDT market, down 1.55% from 24 hours ago.

The court has dismissed the 'Bithumb delisting injunction request' filed by the Zebec Network (ZBCN) foundation. According to industry sources on the 22nd (local time), the court dismissed Zebec's 'Bithumb delisting injunction request'. As a result, Zebec is scheduled to be delisted from Bithumb at 3 PM on the 23rd as originally planned. Previously, on the 1st, the Zebec foundation applied for an injunction to suspend the delisting from Bithumb at the Seoul Central District Court. They claimed that despite providing sufficient explanation, the exchange did not fully accept it. The price of Zebec also plummeted. It is interpreted that the volume that was expecting the injunction to be granted is being released into the market a day before the delisting. As of 6:15 PM, Zebec is trading at 1.192 KRW on the Bithumb KRW market, down 14.31% from the previous day.

The CEO of MetaPlanet, regarded as a strategy in Japan, announced a goal to stockpile 10,000 Bitcoins (BTC) to further increase the company's value. On the 22nd (local time), Simon Gerovich, CEO of MetaPlanet, stated on X (formerly Twitter), "There are concerns from several shareholders about the recent stock price decline," but also said, "MetaPlanet's goal is to create long-term corporate value through Bitcoin accumulation, not short-term stock prices." He continued, "Over the past year, we have accumulated 4,855 BTC, becoming the number one Bitcoin holding company in Asia and the 10th globally," and added, "Our ultimate goal is to reach 10,000 BTC by the end of the year." He also reported on the achievements of MetaPlanet's Bitcoin accumulation. He said, "The growth rate of Bitcoin holdings per share recorded 119%. Shareholders who held one share of MetaPlanet at the beginning of the year have seen their Bitcoin holdings double," and "Through Bitcoin accumulation, we have gained an additional 2,174 BTC (approximately 273.8 billion KRW) in profits, increasing shareholder value." He also evaluated the increase in institutional investors and shareholders as a positive aspect of the Bitcoin strategy. At the end of December 2023, MetaPlanet's shareholders numbered less than 10,000, but as of last March, it increased to 65,000, attracting significant market interest. Furthermore, he added that the interest of institutional investors is increasing, leading to inclusion in major index funds and ETFs. Finally, CEO Simon reiterated, "We are just getting started," and emphasized, "We will maximize Bitcoin holdings and create long-term shareholder value."

An analysis has emerged suggesting that Bitcoin (BTC) is poised for a significant rise after hitting a bottom. On the 21st (local time), virtual asset (cryptocurrency) analyst Cas Abbe stated on X, "Bitcoin's bottom was in the range of $74,000 to $75,000. Most altcoins have also hit their bottoms," adding, "A sustained rally of Bitcoin is expected to continue." The main reasons for Bitcoin's rebound include the accumulation movements of whale investors and the rise in the Coinbase premium. Cas Abbe analyzed, "At the end of last year, large investors (whales) aggressively sold Bitcoin, but in the past six weeks, they have repurchased about 100,000 BTC (approximately $8.75 billion)," suggesting that this is a signal indicating the potential for market rise. He further added, "The Coinbase premium has also turned positive in recent days," noting, "This premium is an important indicator for identifying institutional investors' accumulation, and there have been instances in the past where the market surged after turning positive." Additionally, the record-breaking gold price and the increase in global liquidity are also analyzed to be favorable for Bitcoin. On this day, the spot price of gold surpassed $3,500 per ounce, marking an all-time high. Cas Abbe explained, "Historically, after gold hits a new peak, Bitcoin tends to follow with a rise." Along with this, the global M2 (a liquidity indicator including cash, demand deposits, and time deposits under two years) reached a record high of $108.5 trillion. This can increase liquidity in the market and positively impact Bitcoin's price rise. Cas Abbe predicted, "There won't be a sharp rise until the Federal Reserve (FED) fully enters a quantitative easing (QE) mode, but the current range is likely to be the starting point for a long-term rally."

Global cryptocurrency exchange Binance is listing DeepBook Protocol (DEEP) perpetual futures. On the 22nd (local time), Binance announced on its official website, "We will list DEEP/USDT perpetual futures today at 17:30 (KST)." It supports up to 50x leverage.

The US Ethereum (ETH) spot exchange-traded fund (ETF) recorded a net outflow of $25.4 million. According to Farside Investor on the 21st (local time), the US Ethereum spot ETF saw a net outflow of $25.4 million the previous day. $25.4 million was withdrawn from Grayscale's ETHE, while the other ETFs saw no inflows or outflows. The Ethereum spot ETF has seen continuous outflows this month, with funds flowing in on only 2 out of 13 trading days.

It was observed that XRP network activity significantly increased the previous day. On the 21st (local time), cryptocurrency analyst Ali Martinez stated on X (formerly Twitter) that "XRP network activity is increasing," noting that the number of active XRP addresses recorded a 67.5% increase from 27,352 on the 19th to 40,366. As of 3:11 PM, XRP is trading at $2.0773 on the Binance USDT market, down 2.82% from 24 hours ago.

Elon Musk, CEO of Tesla, might mention a schedule for resigning from the Department of Government Efficiency (D.O.G.E) after the first-quarter earnings report, according to claims. On the 21st (local time), Charles Gasparino, a senior correspondent at Fox Business, stated on X (formerly Twitter) that "according to Wall Street sources, Elon Musk may announce a resignation schedule from D.O.G.E after Tesla's first-quarter earnings report." Meanwhile, Elon Musk has so far denied rumors of his resignation from D.O.G.E.

Bitcoin (BTC) has exceeded $88,000. As of 11:24 PM, Bitcoin is trading at $88,134 on the Binance USDT market, up 4.34% from 24 hours ago. This is attributed to U.S. President Donald Trump putting renewed pressure on Jerome Powell, the Federal Reserve Chair, leading to a decline in the dollar's value. Historically, Bitcoin is known to have an inverse relationship with the dollar.

Previously, MANTRA (OM), a Real World Asset (RWA) project that dropped 95% on Binance, announced plans to burn up to 300 million MANTRA tokens. On the 21st (local time), MANTRA stated through its official Medium that "150 million OM (approximately $87.7 million at current prices) allocated to the team will be burned," and "discussions are underway with major ecosystem partners to burn an additional 150 million OM." As a result, up to 300 million OM are expected to be burned. At current prices, this amounts to $175.4 million. It continued, "The process of unstaking 150 million OM has begun and is expected to expire on the 29th (local time)," adding that "these tokens will be permanently removed." Following the news, MANTRA, which was trading at $0.5, temporarily rose slightly to reach $0.6081. As of 9:51 PM, MANTRA is trading at $0.5829 on the Binance USDT market, up 1.06% from 24 hours ago.

The Ethereum (ETH) 2x leverage short (sell) exchange-traded fund (ETF) has been ranked 2nd and 3rd in the US ETF returns this year. On the 21st (local time), Eric Balchunas, a Bloomberg ETF analyst, stated on X, "The Ethereum 2x Short ETF is one of the highest-yielding ETFs this year," adding, "ETHD and ETQ recorded returns of 176.18% and 151.17%, respectively, ranking 2nd and 3rd in this year's returns." ETHD and ETQ are Ethereum 2x leverage short ETFs launched by ProShares and Rex Shares. The 1st place was taken by MicroSectors' 3x leverage gold miners ETF (180.10%). Recently, Ethereum has been on a continuous decline, with negative outlooks prevailing. Previously, Binance Research reported, "Ethereum Layer 2 blockchains are threatening Ethereum's position. It could negatively impact Ethereum's price." Last month, global investment bank Standard Chartered also reported, "Due to Layer 2 blockchain issues, Ethereum's decline will continue," and "We are lowering this year's price forecast from $10,000 to $4,000." However, the fact that the Ethereum Foundation is aware of these issues could be a catalyst for a rebound. Today, Tomasz Stanczak, co-director of the Ethereum Foundation, said, "Vitalik Buterin, Ethereum co-founder, will spend more time on research and exploration rather than routine coordination or crisis response. We plan to create a long-term breakthrough for Ethereum." As of 9:41 PM, Ethereum is trading at $1,627, up 3.17% from 24 hours ago, based on Binance USDT market.

It has been revealed that Strategy has purchased an additional 6,556 Bitcoins (BTC). The purchase is worth approximately 789.1 billion won. On the 21st (local time), Michael Saylor, the founder of Strategy, announced on X, "Strategy has purchased an additional 6,556 BTC (worth $555.8 million)," adding, "The purchase price per BTC is approximately $84,785." He further stated, "We have achieved a 12.1% return this year." Currently, Strategy holds a total of 538,200 BTC. This amounts to approximately $36.47 billion, with an average purchase price of $67,766. Following the news, Bitcoin, which had been slightly declining, rebounded. As of 9:11 PM, Bitcoin is trading at $87,312, up 3.64% compared to 24 hours ago on the Binance USDT market.

If XRP completes the Wyckoff reaccumulation pattern, it could rise by 70% in the coming weeks, according to analysis. The Wyckoff reaccumulation pattern describes a technical analysis pattern where, after a temporary correction in an uptrend, large investors accumulate more holdings, leading to a subsequent price increase. On the 21st (local time), Cointelegraph stated, "XRP formed a support line at the end of last year and began to consolidate," adding, "Currently, the Wyckoff reaccumulation pattern is being observed on the XRP/USD daily chart. If the pattern completes, XRP could rise by up to 70% within a few weeks." According to the attached data, XRP successfully broke through the Test line after forming the Spring stage in early April. This suggests a decrease in selling pressure for XRP. The media stated, "Currently, XRP is attempting to break through the 'Creek' trendline of the descending parallel channel in the reaccumulation phase," adding, "If it breaks through this trendline, it could reach the E stage after passing through the D stage." In this case, XRP could soar to $3.55, a 70% increase from its current price. The descending wedge pattern observed on the daily chart also supports the possibility of a surge in XRP. If the upper trend resistance line located at $2.2-$2.4 is breached, a new rally could begin. The media explained, "The breakout of the descending wedge pattern is based on the premise that the price can rise by the maximum height formed within the wedge," adding, "If XRP breaks through the upper trendline, the target price is around $4, which coincides with the breakout area of the E stage of the Wyckoff reaccumulation pattern." Furthermore, the launch of XRP futures contracts is expected to be a positive factor for price increases. On the 21st (local time), Coinbase Derivatives Exchange is set to launch XRP futures contracts. This could significantly increase institutional investor interest and new liquidity in XRP. Meanwhile, as of 8:45 PM, XRP is trading at $2.1180 on the Binance USDT market, up 3.65% from 24 hours ago.

The realized market cap of Bitcoin (BTC) has reached an all-time high, indicating that there may still be room for further upside. On the 21st (local time), CryptoQuant stated on X, "On the 14th (local time), Bitcoin's realized market cap hit an all-time high," adding, "This is a positive signal that more investors are buying Bitcoin." They further added, "Considering this, it is likely that Bitcoin has not yet reached its peak." They continued, "Considering this indicator, the possibility of a short-term price increase for Bitcoin has grown," adding, "Even if it moves sideways, it can be interpreted as a period of preparation for a surge." Meanwhile, Bitcoin's realized market cap refers to the market cap calculated based on Bitcoin's realized price. The realized price is the average purchase price of Bitcoin by all investors.