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Ethereum Flashes Golden Cross Signal – Can Bulls Push ETH To $3,000?

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Crypto Magazine
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Ethereum is now trading at a pivotal juncture after days of consistent selling pressure that have pushed the price down by more than 12% since last Tuesday. Currently hovering around the $2,400 mark, ETH is struggling to maintain bullish momentum, and many analysts warn that a deeper correction could follow if bulls fail to defend this crucial support zone. The recent drop reflects broader market uncertainty, with rising volatility shaking investor confidence just as ETH appeared ready to join a wider altcoin breakout.

Despite this weakness, there’s growing optimism in some corners of the market. Top analyst Ted Pillows shared a technical analysis showing that a Golden Cross has been confirmed on Ethereum’s 12-hour chart — a signal traditionally viewed as a precursor to major bullish moves. This crossover, which occurs when the 50-period moving average crosses above the 200-period moving average, often marks the beginning of an extended uptrend.

If bulls manage to hold current levels and reclaim higher resistance near $2,600, the Golden Cross could become a turning point. Until then, the coming days will be critical in determining whether Ethereum can bounce or sink into a longer consolidation phase.

Volatility Hits Ethereum Amid Golden Cross Signal

Ethereum saw sharp volatility over the weekend, surging past $2,550 before rapidly reversing and falling back into the $2,400 zone within hours. This sudden move has sparked renewed uncertainty, as analysts grow cautious about the fading bullish momentum and rising selling pressure. While ETH remains one of the stronger performers in the broader altcoin market, it is still down 36% from its December high of around $4,100. This leaves bulls with a clear challenge: hold current levels and regain control by pushing prices above $2,800 to ignite a sustained rally.

The $2,400 level is now acting as a critical support zone. A break below it could trigger a deeper retracement, likely dragging Ethereum into a consolidation range or even toward lower support levels. Still, technical signals offer a glimmer of hope.

According to Pillows, Ethereum recently confirmed a Golden Cross on the 12-hour chart — a bullish pattern that occurs when the 50-period moving average crosses above the 200-period moving average. Historically, such signals have preceded strong upside moves, and Pillow believes this one could pave the way for Ethereum to reach $3,000 in the near term.

Ethereum golden cross confirmed | Source: Ted Pillows on X

However, for that to happen, buyers must step in decisively. Volume has tapered off, and sentiment appears fragile after last week’s breakdown. If bulls can defend the $2,400 region and reclaim higher resistance quickly, the Golden Cross might mark the beginning of Ethereum’s next leg up. Until then, the market remains in a wait-and-see mode, watching whether the bullish signal can outweigh the growing pressure from sellers.

ETH Tests Key Support After Drop From Local Highs

Ethereum is trading at $2,402 after a sharp Sunday sell-off, where the price spiked to $2,670 before retracing more than 10% in less than 24 hours. As seen in the 4-hour chart, ETH is now consolidating right above the $2,390–$2,400 zone, a level that is proving critical for bulls to hold. This area coincides with a prior consolidation zone and could act as a short-term support base.

ETH testing local range lows | Source: ETHUSDT chart on TradingView

The 200-period EMA on the 4H chart is currently at $2,130, and the 200 SMA is near $1,991 — both are significantly below the current price and offer long-term trend support. However, the volume profile shows a spike in sell-side activity during the pullback, suggesting that short-term traders are locking in profits. If price breaks below $2,390, a deeper retrace toward the $2,200–$2,300 range becomes likely.

On the upside, ETH must reclaim $2,550 to reestablish momentum. Failure to do so could confirm a local top. The price action is clearly indecisive, and this range-bound structure could persist unless bulls reassert strength with a decisive move above $2,600. Until then, the $2,400 level remains a battleground between buyers and sellers amid elevated volatility.

Featured image from Dall-E, chart from TradingView

JPMorgan To Allow Clients To Buy Bitcoin, Jamie Dimon Says

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Crypto Magazine
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Bitcoin Magazine

JPMorgan To Allow Clients To Buy Bitcoin, Jamie Dimon Says

Today, Chairman and CEO of JPMorgan Chase Jamie Dimon reiterated his personal disapproval of Bitcoin during the bank’s annual Investor Day event. Despite the bank’s decision to provide clients with access to Bitcoin investments, Dimon emphasized his personal disapproval of Bitcoin.

“I am not a fan” of Bitcoin, stated Dimon.

JPMorgan is going to allow clients to buy Bitcoin, but the bank won’t custody it, according to Bloomberg. Dimon made clear that while JPMorgan will provide clients access to Bitcoin investments, the bank will not hold or manage the digital asset directly. 

In a January 2025 interview with CBS News, Dimon expressed continued skepticism toward Bitcoin. “Bitcoin itself has no intrinsic value. It’s used heavily by sex traffickers, money launderers, ransomware,” said Dimon. 

Although he acknowledged, “We are going to have some kind of digital currency at some point,” he added, “I just don’t feel great about bitcoin. I applaud your ability to wanna buy or sell it. Just like I think you have the right to smoke, but I don’t think you should smoke.”

These comments from Dimon contrast with recent optimism from JPMorgan analysts regarding Bitcoin’s market prospects. JPMorgan analysts reported that Bitcoin is likely to continue gaining ground at gold’s expense in the second half of the year, driven by rising corporate demand and growing support from U.S. states.

“Between mid-February and mid-April gold was rising at the expense of bitcoin, while of the past three weeks we have been observing the opposite, i.e. bitcoin rising at the expense of gold,” said JPMorgan analysts. “In all, we expect the YTD zero sum game between gold and bitcoin to extend to the remainder of the year, but are biased towards crypto-specific catalysts creating more upside for bitcoin over gold into the second half of the year.”

Since April 22, gold has dropped nearly 8%, while Bitcoin has surged 18%, reflecting a notable shift in investor sentiment. Capital has been moving out of gold ETFs and into Bitcoin. Several U.S. states are also warming to Bitcoin—New Hampshire now permits up to 5% of its reserves in Bitcoin, while Arizona is launching a Bitcoin reserve and has pledged not to raise taxes this year. At the corporate level, companies like Strategy and Metaplanet are expanding their Bitcoin holdings.

“As the list grows, with other U.S. states potentially considering adding bitcoin to their strategic reserves, this could turn out to be a more sustained positive catalyst for bitcoin,” said the analysts.

This post JPMorgan To Allow Clients To Buy Bitcoin, Jamie Dimon Says first appeared on Bitcoin Magazine and is written by Oscar Zarraga Perez.

Nebraska’s New Mining Rules: Infrastructure Safeguard or Soft Ban in Disguise?

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Crypto Magazine
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Bitcoin Magazine

Nebraska’s New Mining Rules: Infrastructure Safeguard or Soft Ban in Disguise?

Nebraska lawmakers have just passed Legislative Bill 526 (LB526), and while not explicitly anti-Bitcoin, its effects may be anything but neutral. With a unanimous 49-0 vote, the Legislature sent the bill to Governor Jim Pillen’s desk, where it’s expected to be signed into law. Supporters call it a commonsense infrastructure bill. Bitcoin miners call it a slow-motion exodus in the making.

On paper, LB526 is about large energy users. But in practice, it singles out Bitcoin mining facilities with one megawatt (MW) or greater loads and layers on operational constraints that look more like punishment than policy.

Cost Shifting, Public Shaming, and Curtailment

At the heart of LB526 is a mandate: miners must shoulder the costs of any infrastructure upgrades needed to support their demand. Utilities are empowered to demand direct payments or letters of credit after conducting a “load study.” And while the law pays lip service to “fairness” and non-discrimination, it’s clear who the target is. Bitcoin miners are the only industry named.

Further, mining operators must notify utilities in advance, submit to their interconnection requirements, and, critically, accept interruptible service. That means that when the grid gets tight, it’s miners who go dark first. Voluntary demand response, the hallmark of Bitcoin mining’s grid-friendly posture? Replaced with mandated curtailment and utility discretion.

And the kicker: public disclosure of energy consumption. Utilities must publish annual energy usage for each mining operation. No such requirement exists for other data-heavy sectors — not for cloud computing, not for AI clusters, not for Amazon data centers. Just Bitcoin. It’s not just surveillance, it’s signaling.

The Tax That Wasn’t, and the Costs That Remain

To its credit, the Legislature dropped an earlier provision that would’ve added a 2.5¢/kWh tax on mining. This punitive levy would’ve tacked 50% onto typical industrial rates. That tax would have been an open declaration of hostility. Removing it was necessary. But not sufficient.

Because what remains in LB526 is a less visible, but no less potent deterrent: uncertainty. Miners already operate on razor-thin margins and seek jurisdictions with predictable power costs and clear rules. Instead, Nebraska is offering infrastructure tolls, discretionary curtailment, and regulatory spotlighting.

The Market Responds: Warning Shots from Miners

Industry leaders didn’t stay silent. Marathon Digital Holdings, one of the largest publicly traded mining firms, testified that it had invested nearly $200 million in Nebraska and paid over $6.5 million in taxes, and warned that if LB526 passed, further expansion would likely be scrapped.

Their message was clear: Nebraska had been a pro-mining, pro-growth jurisdiction. But LB526 sends a signal that miners aren’t welcome, or at best, are second-class citizens in the energy economy. As one executive put it, “If the same rules don’t apply to other energy-intensive industries, this isn’t about infrastructure, it’s about discrimination.”

Others warned that mandatory curtailment replaces cooperative grid services with coercion. Bitcoin miners can, and do, offer real-time load shedding that stabilizes grids during peak demand. But that value proposition only works when there’s a market signal. LB526 turns it into a liability.

Politics, Power, and Public Utilities

Senator Mike Jacobson, the bill’s sponsor, insisted LB526 is agnostic toward Bitcoin. “This is about electricity usage,” he said. But that’s hard to square with a bill that surgically targets one user class.

Jacobson pointed to Kearney, where half the city’s power goes to a single mining facility. But rather than view that as an opportunity, a dispatchable industrial customer willing to scale up or down based on grid needs, the Legislature opted for risk aversion and central planning.

And in Nebraska’s public power model, that matters. With every utility publicly owned, the regulatory posture of the state isn’t advisory, it’s existential. There is no retail competition. If Nebraska’s power authorities begin treating Bitcoin miners like unreliable freeloaders rather than willing partners, miners have no recourse. Just the exit.

For now, LB526 awaits only the governor’s signature. Given that LB526 was introduced at the behest of the governor, it is likely to be signed. Once enacted, it will take effect October 1, 2025. Miners have until then to decide: adapt, relocate, or fold.

States like Texas, Wyoming, and North Dakota have gone the opposite direction, offering tax clarity, grid integration, and legal protection. Nebraska, once on that shortlist, may find itself dropping off the radar.

Bitcoin mining doesn’t need handouts. But it does need equal footing. LB526 imposes costs, limits flexibility, and broadcasts suspicion. If the goal was to balance innovation with infrastructure, the execution leaves much to be desired.

Because when one industry is burdened while others are exempted, when voluntary partnerships are replaced with mandates, and when operational data is made public for no clear reason, it’s not hard to see why miners view LB526 not as regulation, but as retaliation.

This is a guest post by Colin Crossman. Opinions expressed are entirely their own and do not necessarily reflect those of BTC, Inc. or Bitcoin Magazine.

This post Nebraska’s New Mining Rules: Infrastructure Safeguard or Soft Ban in Disguise? first appeared on Bitcoin Magazine and is written by Colin Crossman.

Fold Unveils Bitcoin Gift Card, Pioneering Bitcoin in U.S. Retail Gift Card Market

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Crypto Magazine
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Bitcoin Magazine

Fold Unveils Bitcoin Gift Card, Pioneering Bitcoin in U.S. Retail Gift Card Market

Fold, a leading Bitcoin financial services company, recently announced the launch of its Bitcoin Gift Card, marking the first step in integrating Bitcoin into the $300 billion U.S. retail gift card market. This innovative product enables consumers to purchase and gift bitcoin through familiar retail channels, is available now at Fold’s website and is expected to expand to major retailers nationwide throughout the year.

The Fold Bitcoin Gift Card allows users to acquire bitcoin for personal savings or as a gift, redeemable via the Fold app. “Once you buy that gift card, you can give it to someone or use it yourself. You open the Fold app, and your bitcoin appears,” said Will Reeves, Chairman and CEO of Fold, in an interview with Bitcoin Magazine. Available initially at the Fold website, the product will soon reach physical and online retail shelves, bringing Bitcoin to everyday shopping experiences.

This launch positions Fold as a trailblazer in making Bitcoin accessible through gift cards, the most popular gift in America.

“We’re now talking about Bitcoin gift cards on sale on the racks of the largest retailers in the country. You can pick up Bitcoin at the checkout line, buy it for yourself, or share it as a gift,” Reeves told Bitcoin Magazine. 

The gift card, a white Bitcoin “B,” adorned by vibrant orange, taps into the retail market’s demand for alternative assets, following the success of Costco’s $200 million monthly gold sales.

Fold’s partnership with Totus, a gift card issuance provider, enables distribution through over 150,000 points of sale nationwide.

“In our announcement, we reference one of our partners who has direct distribution into all primary retailers in the country,” Reeves said. While specific retailer names will be revealed later, Fold plans to expand throughout 2025, ensuring Bitcoin’s presence in stores like grocery chains and gas stations. “Throughout the rest of this year, we’ll announce distribution partners, including some of the largest retailers in the US,” Reeves added.

The Bitcoin Gift Card targets millions of Americans curious about Bitcoin but hesitant to navigate apps or exchanges.

“This gift card gives us distribution directly to millions of Americans who may not be buying Bitcoin because they haven’t downloaded a new app, don’t have a brokerage account, or haven’t seen the ETF,” Reeves explained. By leveraging trusted retail channels, Fold is opening a new avenue for Bitcoin adoption.

Since 2019, Fold has empowered over 600,000 users with Bitcoin-based financial tools, holding over 1,485 Bitcoin in its treasury.

“I think there’s a real chance by the end of 2025 that Bitcoin becomes the most popular gift in America because of this card,” Reeves predicted.

This post Fold Unveils Bitcoin Gift Card, Pioneering Bitcoin in U.S. Retail Gift Card Market first appeared on Bitcoin Magazine and is written by Juan Galt.

Large US Companies Witness Highest Number of Bankruptcy Filings in 15 Years Amid Souring Consumer Sentiment, According to Analyst

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Crypto Magazine
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A widely followed market analyst is sounding the alarm about the surging number of large US companies going bankrupt this year.

Citing data from S&P Global Market Intelligence, Adam Kobeissi, the founder and editor-in-chief of The Kobeissi Letter, tells his 898,600 followers on the social media platform X that 246 large US firms have gone bankrupt year-to-date, the highest number in 15 years.

According to Kobeissi, dozens of big companies filed for bankruptcy just last month amid the peak of President Trump’s trade war.

“[246] is up from 206 recorded last year and more than DOUBLE during the same period in 2022.

In April alone, the US saw 59 bankruptcy filings as tariffs ramped up.

So far this year, the industrials sector has seen 41 bankruptcies, followed by 31 in consumer discretionary, and 17 in healthcare.

According to S&P Global, consumer discretionary companies have been hit the hardest due to market volatility, tariffs, and inflation uncertainty.

We expect a surge in bankruptcies in 2025.”

Image
Source: The Kobeissi Letter/X

The wave of bankruptcies appears to coincide with a decline in consumer sentiment.

Kobeissi says the data suggests that American consumers are becoming increasingly concerned about the economy.

“US consumer sentiment is getting even worse:

The Consumer Sentiment index declined 1.4 points, to 52.2, the second-lowest reading in the history of the survey.

This is even lower than 2008 and the 1980s recession.

Current conditions fell 2.2 points, to 57.6, the second-weakest level on record.

Concerningly, consumer expectations decreased 0.8 points, to 46.5, the lowest in 45 years.

This survey took place between April 22 and May 13, concluding 2 days after the US-China trade deal.

Americans have rarely been this pessimistic about the economy.” 

Image
Source: The Kobeissi Letter/X

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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The post Large US Companies Witness Highest Number of Bankruptcy Filings in 15 Years Amid Souring Consumer Sentiment, According to Analyst appeared first on The Daily Hodl.

XRP Price Confirms Bullish Reversal Setup With This Demand Zone

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A new technical analysis reveals that the XRP price has just confirmed a bullish reversal set-up on the 1-hour chart, following a strong rebound from a critical demand zone. This development has raised expectations of a potential short-term rally, as a crypto analyst forecasts higher targets in the coming sessions. 

XRP Price Bullish Reversal In Sight

‘FrankFx14,’ a pseudonymous TradingView crypto analyst, has revealed that the XRP price has found solid footing between the $2.31246 and $2.37028 support area. The analyst also identified this range as a historically significant demand zone where previous buying pressure has consistently reversed price declines.  

As XRP’s price dipped into this demand zone on May 17, bulls stepped in, defending the lower boundary and triggering a sharp rejection. According to the analyst, the confirmation came with a bullish engulfing candle — a widely recognized signal for a potential trend reversal. 

Trading at approximately $2.378 at the time of the chart analysis, XRP is now holding the top of this key demand zone, indicating renewed buying interest. The TradingView analyst has suggested that as long as the price remains above $2.37028, XRP’s bullish outlook remains intact. 

XRP

According to the TradingView expert, the presence of XRP’s bullish reversal setup is supported by the LuxAlgo Supply and the Demand Visible Range indicator. With XRP’s price action breaking upward from its local bottom, the analyst points to $2.4939 as the next key level to watch. This price marks the mid-level of a previous supply zone and a likely resistance area.

The next bullish target for XRP is $2.6031. The analyst has described this point as a major supply zone where sellers previously gained control. These price zones are now considered primary targets for short-term traders positioning for potential upside. 

FrankFx14 has urged traders to wait for further confirmation, highlighting that strong trading volume and candle closes above the $2.375 level would be the key to validating XRP’s bullish continuation. 

Analyst Forecasts Mega Rally For The Altcoin

XRP has officially broken out of a long-term Falling Wedge pattern, sparking optimism, with analysts like Crypto Avi believing that a mega rally could be on the horizon. According to his chart analysis, the token is now poised for a mid-term surge, targeting new all-time highs around $4.90. 

Presently trading at $2.29, a surge to this bullish target would represent a significant increase of 114% for the altcoin. The chart illustrates that the cryptocurrency has been trapped in a downward-sloping channel since late 2024, consolidating in a pattern seemingly recognized as bullish.

XRP is currently testing the Falling Wedge’s breakout level, which may now act as support. A sustained move above this level could confirm the analyst’s bullish thesis, paving the way for a potential climb toward $4.90.

XRP

Here’s What Can Trigger a Solana (SOL) Bull Run

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Crypto Magazine
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TL;DR

  • Analysts see potential for a new SOL rally in case the price reclaims certain resistance levels.

  • One popular trader sold their “spot bag” and is now looking for re-entry options.

The Necessary Condition

Solana’s SOL has been in a downtrend in the past week and is far from its all-time high registered in January this year. As of this writing, it trades at around $161, representing a 45% decline from the historic peak.

However, some analysts believe a renewed rally might be knocking on the door. The popular X user Ali Martinez claimed that a breakout above the resistance level of $176-$188 could ignite a fresh bull run.

Earlier this month, he disclosed that the number of wallets holding at least 0.1 SOL has soared above 11 million in the span of just two weeks. This development indicates growing participation in the ecosystem, while the minor threshold hints that most newcomers are likely retail investors.

Martinez isn’t the only renowned analyst to give his two cents on the topic. The X user Cas Abbe reminded about SOL’s crash in April, outlining that the price has climbed by over 50% since then, “while its fundamentals are getting better.” They think the ATH registered at the start of 2025 was not the cycle top for Solana, envisioning a new peak sometime this year. 

Mags chipped in, too, suggesting that SOL’s monthly chart “is forming a massive ascending triangle pattern.” That said, the analyst expects that a breakout beyond $267 could trigger “a massive leg up” to uncharted territory.

The Next Buying Opportunity?

Another X user who weighed in recently is XO. Earlier this month, they shared their trading history, which included a big sell-off approximately a week ago when the price was above $180. 

As it turned out, this was the trader’s entire “spot bag.” They now explore new buying opportunities that might occur in the next weeks or months. 

XO described the $140-$150 zone as an “immediate level of interest,” adding that $120 “isn’t out of the question.”

Subsequently, the trader assumed that Solana’s future price dynamics may heavily depend on what bitcoin does next. 

The post Here’s What Can Trigger a Solana (SOL) Bull Run appeared first on CryptoPotato.

Abraaj Restaurants Becomes First Bitcoin Treasury Company in the Middle East

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Crypto Magazine
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Bitcoin Magazine

Abraaj Restaurants Becomes First Bitcoin Treasury Company in the Middle East

Today it was announced that Al Abraaj Restaurants Group B.S.C. has become the first publicly traded company in the region to adopt Bitcoin as a treasury reserve asset. The Bahrain-based hospitality firm announced today it has acquired 5 Bitcoin for its balance sheet, with plans to significantly increase its allocation over time.

“Our initiative towards becoming a Bitcoin Treasury Company reflects our forward-thinking approach and dedication to maximizing shareholder value,” said Abdulla Isa, Chairman of the Bitcoin Treasury Committee at Al Abraaj. “We believe that Bitcoin will play a pivotal role in the future of finance, and we are excited to be at the forefront of this transformation in the Kingdom of Bahrain. 10X is a proven leader in advising and bringing capital to listed Bitcoin Treasury Companies, and we welcome their partnership in helping us build the MicroStrategy of the Middle East.”

The decision makes Abraaj not only the first in Bahrain, but also in the GCC and wider Middle East, to publicly hold Bitcoin on its balance sheet. The investment is a direct response to growing institutional interest in Bitcoin and comes amid what appears to be a regional shift toward digital assets.

Abraaj’s strategic partner in the transition is 10X Capital, a New York-based investment firm with a strong track record in digital asset treasury management. 10X previously advised companies like Nakamoto on its $710 million Bitcoin-focused financing round.

“I’d like to congratulate Abdalla Isa and the team at Al Abraaj for adopting Bitcoin at the corporate treasury level, finally enabling anyone in the GCC with a brokerage account to gain Bitcoin exposure,” said Hans Thomas, CEO of 10X Capital. “Bahrain continues to be a leader in the Middle East in Bitcoin adoption, backed by a forward-thinking regulatory framework.”

Thomas added, “The GCC, with a combined GDP of $2.2 trillion and over $6 trillion in sovereign wealth funds, has until now lacked a publicly listed Bitcoin treasury company like Strategy, Tesla, or Metaplanet. That changes today with ABRAAJ’s historic Bitcoin purchase.”

Abraaj said it will continue to work under the regulatory oversight of the Central Bank of Bahrain (CBB) and has pledged full compliance with all digital asset transaction laws. The company will adopt robust custody, risk management, and governance protocols for its Bitcoin holdings.

Disclosure: Nakamoto is in partnership with Bitcoin Magazine’s parent company BTC Inc to build the first global network of Bitcoin treasury companies, where BTC Inc provides certain marketing services to Nakamoto. More information on this can be found here.

This post Abraaj Restaurants Becomes First Bitcoin Treasury Company in the Middle East first appeared on Bitcoin Magazine and is written by Jenna Montgomery.

Metaplanet Acquires 1,004 Bitcoin, Raising Total Holdings to 7,800 BTC

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Crypto Magazine
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Bitcoin Magazine

Metaplanet Acquires 1,004 Bitcoin, Raising Total Holdings to 7,800 BTC

Metaplanet, known as Japan’s leading Bitcoin treasury company, has announced the acquisition of 1,004 Bitcoin for approximately $104.3 million, at an average price of around $103,873 per BTC. This latest purchase brings the company’s total Bitcoin holdings to 7,800 BTC.

Purchase of Additional Bitcoin.

Metaplanet started accumulating Bitcoin in April 2024 with about 98 BTC, costing around 1 billion yen. By the end of 2024, they had increased their holdings to nearly 1,762 BTC with a cost basis of about 20.9 billion yen. After officially launching their Bitcoin Treasury Operations on December 18, 2024, the company rapidly expanded their Bitcoin holdings, reaching 7,800 BTC by May 19, 2025. This growth was funded through capital market activities and operating income, increasing their total cost basis to over 105 billion yen.

BTC holdings have exploded, up 3.9x year-to-date with over 5,000 BTC added in 2025 alone. Since switching to a Bitcoin-focused strategy, Metaplanet has seen its BTC net asset value grow by 103.1x and its market cap by 138.1x.

Over the past 30 days alone, Metaplanet has added 3,275 BTC, aggressively expanding its Bitcoin treasury amid a 189.1% year-to-date yield on Bitcoin. Metaplanet’s Bitcoin strategy has delivered significant returns for shareholders, with BTC Yield reaching 47.8% quarter-to-date. Since July 2024, the firm has reported quarterly BTC Yields of 41.7%, 309.8%, 95.6%, and 47.8%, driving strong Bitcoin-based performance even amid capital market activities and dilution from share issuances.

Metaplanet also posted its best quarter yet. In Q1 FY2025, revenue hit ¥877 million (up 8% quarter-over-quarter), and operating profit hit a record ¥593 million (up 11%). Total assets jumped 81% to ¥55.0 billion, and net assets surged 197% to ¥50.4 billion.

Even though Bitcoin’s price dip at the end of March caused a ¥7.4 billion valuation loss, the company bounced back fast. As of May 12, it reported ¥13.5 billion in unrealized gains thanks to the market rebound. Net income for the quarter came in at ¥5.0 billion, and core operations stayed strong.

“Guided by this conviction, we pivoted in 2024 to become Japan’s first dedicated Bitcoin Treasury Company,” said Metaplanet’s management in its Q1 earnings presentation. “In Q1 2025, we launched—and have already executed 87% of—a two-year, ¥116 billion “moving-strike” warrant program: the largest and lowest-cost equity financing of its kind ever placed in Japan.”

This post Metaplanet Acquires 1,004 Bitcoin, Raising Total Holdings to 7,800 BTC first appeared on Bitcoin Magazine and is written by Oscar Zarraga Perez.

Bitcoin ETF weekly inflows plunge 35% as BTC price slips below $104K

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Bitcoin ETF has seen a drop in weekly inflows as Bitcoin’s price has fallen below the $104,000 level.

According to SoSoValue data updated on May 16, 2025, weekly inflows to Bitcoin ETFs dropped to $603.74 million. This is a 35% decrease from the previous week’s $934.17 million.

Weekly Bitcoin ETF inflows drop 35%

Bitcoin spot ETFs experienced their third consecutive week of declining inflows. The week through May 16, 2025, registered $603.74 million in new money. That represents 35% less than last week’s $934.17 million and follows the downward trend from the April 25 high at $3.06 billion.

The weekly trend of inflows has been weakening steadily since late April, and the inflows have been weakening progressively: $3.06 billion (Apr 25), $1.81 billion (May 2), $934.17 million (May 9), and now $603.74 million (May 16). Although weakening, the past three months are much better compared to the first half of the year.

Source: SoSoValue

Weekly volume traded was $14.38 billion for the week ended May 16, higher than last week’s $11.93 billion but lower than the $18.76 billion for the week ended April 25. May 16 daily data brings more upbeat momentum with $260.27 million in net inflows and $2.70 billion in daily trading volume. This daily data shows weekly inflows have declined, but investor appetite is still there on a daily basis.

ETF provider performance shows concentration of inflows

A breakdown of Bitcoin ETF flows by issuer indicates that inflows remain dominated by a few top issuers. BlackRock’s IBIT remains on top with $129.73 million of daily inflows, as data from May 16 indicates. It accounted for nearly half the day’s total. Fidelity’s FBTC followed with $67.95 million and Ark’s ARKB with $57.98 million.

BlackRock’s IBIT remains in the lead with a net asset value of $65.72 billion. That is more than 53% of the combined assets of all Bitcoin ETFs. IBIT has total inflows of $45.55 billion from inception. Fidelity’s FBTC is at number two, with assets of $20.56 billion and total inflows of $11.59 billion.

Grayscale’s GBTC, while showing a slight positive price momentum of 0.05% on May 16, still has zero daily inflows. Its net total outflows have now increased to $22.99 billion. It still retains the third-highest asset size with $19.55 billion in net total assets.

Some smaller ETFs did not experience any inflows on May 16 despite the positive price action. They include Bitwise’s BITB (+0.29%), VanEck’s HODL (+0.24%), and Valkyrie’s BRRR (+0.28%). There was one, Hashdex’s DEFI, which experienced negative price action at -0.40% for the day.

Bitcoin price drop is synchronized with changing investor trends

Bitcoin’s price action below the $104,000 level appears to dictate investor sentiment in ETF markets. Bitcoin’s price volatility shows investors are becoming jittery as the market moves away from recent highs.

In spite of this volatility, overall net assets in all the Bitcoin ETFs have kept increasing. It stood at $122.67 billion as of May 16. That is above $121.23 billion on May 9 and $113.15 billion on May 2. The increase in overall assets in spite of declining inflows implies that new capital coming into the market has softened.

Bitcoin market capitalization in ETFs has also increased to 5.95% from earlier readings. Weekly inflows, while lower, remain positive for most of the large ETF providers. The week of March and early April was an exception, where Bitcoin ETFs experienced high outflows, for instance, -$713.30 million for the April 11 week and -$838.27 million for the March 14 week.

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