Bitcoin Holds Above $100,000 for 11 Consecutive Days
The current financial landscape features notable developments regarding Bitcoin and other cryptocurrencies:
- Bitcoin has maintained stability above $100,000 for 11 days after rising from approximately $75,000 in early April.
- Strategy, a major BTC holding firm, purchased 7,630 BTC at an average price exceeding $103,000, aiming to establish the $100K level as a new support.
- ETF inflows have increased, indicating institutional interest in BTC.
- Market capitalization of Ethena Labs’ stablecoin USDe rose 35% to $5 billion within a week.
- The U.S. Senate advanced the GENUIS Act, which aims to regulate stablecoins, potentially enhancing market confidence.
- Yields on long-duration bonds are rising globally, reflecting concerns about fiscal sustainability; Japan's 30-year bond yield surpassed 3%.
Market Movements
- BTC is priced at $105,181.50, down 0.51% from the previous day.
- ETH remains unchanged at $2,519.42.
- CoinDesk 20 index is down 0.42% at 3,171.22.
Technical Analysis
- The chart indicates a bullish trend reversal for Monero (XMR) relative to Bitcoin (BTC).
Upcoming Events
Key events to monitor include:
- May 22: Bitcoin Pizza Day.
- May 30: Second round of FTX repayments begins.
Token Stats
- BTC Dominance: 63.86%
- ETH/BTC ratio: 0.02401
- Total CME Futures Open Interest: 157,875 BTC
Stay informed on these developments as they could influence investment decisions in the cryptocurrency markets.