Summary
gm, Bitcoin reached a new all-time high above $123,000 before experiencing a slight pullback to around $117,000. Institutional interest continues to drive the market, highlighted by Strategy acquiring an additional 4,225 BTC worth $472 million and Metaplanet purchasing 797 BTC, while SharpLink Gaming made a substantial investment of $48.85 million in Ethereum. In regulatory developments, the U.S. House of Representatives is preparing for crucial votes on three crypto bills this week, including the CLARITY Act and GENIUS Act, which could establish comprehensive frameworks for digital assets and stablecoins. Meanwhile, institutional adoption is expanding as crypto ETFs saw record inflows of $3.7 billion last week, pushing total assets under management to an all-time high of $211 billion across crypto-linked funds.

News Headlines
🚀 Bitcoin Flips Amazon's $2.3T Market Cap, Becomes Fifth-Largest Asset

  • Bitcoin has surpassed Amazon to become the fifth-largest asset globally with a market cap of $2.43 trillion, following a surge to $122,600 and nearly 13% weekly growth.
  • Institutional adoption continues to strengthen with over 265 companies collectively holding 3.5 million BTC, while US spot Bitcoin ETFs experienced substantial inflows exceeding $1 billion in a single week.

🌎 Crypto Market Cap Hits $3.8T All-Time High, Approaching UK's GDP

  • The total cryptocurrency market capitalization has reached a record high of $3.8 trillion, marking a 16% increase over the past five days and approaching the GDP of the United Kingdom.
  • Analysts suggest the market could continue rising to potentially hit $4.45 trillion based on bullish technical setups, with the Supertrend indicator flashing a 'buy' signal indicating favorable price momentum.

🔄 Real-World Asset Tokens Are the New ETFs According to CoinFund President

  • Christopher Perkins of CoinFund asserts that real-world asset (RWA) tokens represent a transformative financial wrapper similar to ETFs, democratizing investor access to markets typically closed to retail traders.
  • Approximately 81% of US companies with over $100 million in revenue are privately held, limiting opportunities for ordinary investors, while RWA tokens could increase capital velocity and improve access to global capital markets.

🌐 El Salvador's Bitcoin Stash Tops $760M as BTC Breaks Above $122K

  • El Salvador's Bitcoin holdings have surpassed $760 million with over 6,237 BTC, now worth considerably more than their estimated purchase cost of $42,000 per unit.
  • Despite criticism from international institutions like the IMF, President Bukele's administration continues to increase the country's holdings and supports Bitcoin use since making it legal tender in 2021.

đŸ“± Solana Simplifies DApp Development with New Mobile Toolkit

  • Solana's new mobile toolkit enables the creation of iOS and Android apps using React Native within 15 minutes without requiring back-end code, featuring wallet adapters and transaction helpers.
  • The shift to a mobile-first paradigm eliminates the need for back-end infrastructure, reducing shipping cycles and maintenance burdens while improving user experience in the Web3 space.

Market Metrics

Fundraising & VC
No fundraising data today.

Regulatory
đŸš« Rep. Waters Warns Crypto Bills Favor Industry Over Consumers

  • Representative Maxine Waters criticized the CLARITY and GENIUS Acts in an MSNBC op-ed, warning they prioritize industry interests over consumer protection and could lead to widespread fraud.
  • Waters argued the CLARITY Act would limit the SEC's ability to act before investors are harmed, while the GENIUS Act lacks adequate regulation of stablecoins and DeFi.

🌐 China Explores Tiered Approach to Stablecoins

  • Shanghai's state asset regulator has initiated closed-door meetings to explore stablecoin technology for government projects despite China's strict crypto regulations.
  • The discussions focus on potential applications in cross-border trade and supply chain management while maintaining strict capital controls.

🚹 Hungary Criminalizes Unauthorized Crypto Trading

  • Hungary's updated Criminal Code now imposes up to two years imprisonment for using unauthorized crypto exchanges for transactions between 5-50 million forints ($14,600-$145,950).
  • Penalties escalate for larger transactions, with amounts over 500 million forints carrying potential five-year sentences.

đŸ“± Coinbase Sues Oregon Officials Over Public Records

  • Coinbase filed a lawsuit against Oregon state officials for allegedly violating public record laws by not responding to requests about digital asset enforcement actions.
  • The lawsuit claims state officials reversed their stance on digital assets without transparency, suddenly viewing more than 30 tokens offered by Coinbase as unregistered securities.

💰 Kazakhstan Plans to Include Crypto in National Reserves

  • Kazakhstan's central bank announced plans to invest part of its gold and foreign exchange reserves into crypto-related instruments, citing allocation strategies from Norway, the US, and the Middle East.
  • The initiative follows a governmental intention to develop a national crypto reserve and expand the digital asset sector through a pilot zone for crypto payments.

Technical Analysis
Bitcoin - Bitcoin has broken up from an approximate horizontal trend channel in the short term after investors have paid ever more. A positive signal has been triggered and further increase for the currency is indicated. The price has risen strongly since the positive signal from the rectangle formation at the break through resistance at 107710. The objective at 115727 is now met, but the formation still gives a signal in the same direction. There is no resistance in the price chart and further rise is indicated. In case of a negative reaction, the currency has support at approximately 109000 points. The currency is overall assessed as technically positive for the short term.

Ethereum - Ethereum has broken up from an approximate horizontal trend channel in the short term after investors have paid ever more. A positive signal has been triggered and further increase for the currency is indicated. There is no resistance in the price chart and further rise is indicated. In case of a negative reaction, the currency has support at approximately 2780 points. Positive volume balance indicates that buyers are aggressive while sellers are passive, and strengthens the currency. RSI is above 70 after a good price increase the past weeks. The currency has strong positive momentum and further increase is indicated. However, particularly for big stocks, high RSI may be a sign that the stock is overbought and that there is a chance of a reaction downwards. The currency is overall assessed as technically positive for the short term.