BTC held $105,500, consolidating near critical inflection after rebounding from $100K.
ETH stayed steady at $3,500, while SOL and BNB dipped 1–2%, showing selective rotation into majors.
Spot volumes up 22.6% to $14.1 billion, signaling improving market participation and liquidity. Futures open interest fell 2.6%, confirming ongoing deleveraging and cleaner positioning.
ETF demand remains mixed, but spot accumulation is picking up, led by Strive’s $162 million BTC purchase, Strategy’s $50 million BTC addition, and Bitmine’s 34% increase in ETH holdings.
Macro backdrop stabilizes: U.S. government reopens, tariff deals progress, and Treasury offers clarity on crypto staking regulation.
Momentum building, but upside capped near $108.5K–$111K unless inflows accelerate.
The two treasuries fund their accumulation in very different ways, and a filing shows Strive holding a stake in Strategy's own preferred stock, so the two are not just parallel bets on bitcoin. They hold each other's paper.
The deal puts a bank-issued stablecoin on a major exchange while giving that exchange's institutional clients access to round-the-clock dollar settlement.
