The Bitcoin supply held by whale entities has declined by 40% over the past eight years as profit-taking continues.

Bitcoin profit-taking underway as ‘big whales’ continue sell-off

Vanadi Coffee, a Spanish coffee franchise, will discuss the possibility of 
allocating up to 1 billion euros (nearly $1.1 billion) to establish a bitcoin 
treasury. The proposal, still to be approved, would position the company among 
the largest holders of bitcoin in Europe. Vanadi Coffee Seeks Redemption With 
1B Euros Bitcoin Pivot The trend of […]

Hail Mary in Crypto: Spanish Coffee Chain Plans Massive Bitcoin Treasury—Will It Work?

Maple’s expansion to Solana is powered by Chainlink’s CCIP, which allows data 
transfer between EVM and SVM ecosystems.

Maple Finance expands to Solana, deploys yield-bearing stablecoin

Bitcoin (BTC) remains range-bound in the mid-$100,000s, showing no clear 
directional bias. However, the Hash Ribbons indicator is now flashing a fresh 
buy signal, suggesting that the top cryptocurrency may be gearing up for its 
next upward move. Bitcoin Hash Ribbons Flash Buy Signal According to a recent 
CryptoQuant Quicktake post by contributor Darkfost, Bitcoin’s Hash Ribbons are 
signalling a potential prime buying opportunity for the leading digital asset. 
This signal coincides with Bitcoin’s hashrate reaching new all-time highs 
(ATH). Related Reading: Bitcoin Mining Giant Abandons Full-Hold Strategy, 
Unloads $40M In Crypto For the uninitiated, Bitcoin Hash Ribbons is an on- 
chain indicator that analyzes miner stress by comparing the 30-day and 60-day 
moving averages of Bitcoin’s hashrate. When the short-term average crosses 
above the long-term average after a period of decline, it signals that miner 
capitulation is ending &#8211; often marking a strong long-term buying opportunity. 
Such signals can emerge when mining becomes unprofitable for certain miners, 
forcing them to sell their BTC holdings to stay afloat. These sell-offs may 
temporarily pressure the price, but historically they have created attractive 
long-term buying opportunities. In their analysis, Darkfost notes that while 
the current signal is bullish from a long-term perspective, it could lead to a 
short-term pullback in BTC price. However, he emphasizes that any dip should 
be viewed as a chance to accumulate. Darkfost also pointed out that the Hash 
Ribbons indicator has historically been reliable, with the exception of 2021 
during the China mining ban. They shared the following chart illustrating how 
the indicator is currently showing a strong buy signal. Is BTC Headed For A 
Crash? While the Hash Ribbons suggest a favorable long-term setup, some 
analysts warn that the short-term correction could be deeper than expected. 
For instance, crypto analyst Xanrox used the Fibonacci levels to forecast that 
BTC may tumble as low as $98,000. Related Reading: Bitcoin Warning Signs? 
Long-Term Holders Exit While Retail Buyers Rush In Similarly, analyst Jelle 
noted that Bitcoin may face “one last speed bump” before launching a major 
rally to $140,000. Meanwhile, more pessimistic voices continue to warn of a 
dramatic crash, with some speculating that BTC could fall below $10,000 &#8211; a 
view seen as increasingly unlikely by most market participants. Despite the 
varying predictions, fresh on-chain data points to a healthy BTC market in the 
near to medium term. For instance, CryptoQuant contributor Amr Taha recently 
highlighted that the derivatives market has undergone a reset, with funding 
rates stabilizing around neutral levels. Similarly, Fundstrat’s Head of 
Research, Tom Lee foresees BTC surging to as high as $250,000 by the end of 
the year. At press time, BTC trades at $105,367, up 0.5% in the past 24 hours. 
Featured image from Unsplash, charts from CryptoQuant and TradingView.com

Bitcoin Hash Ribbons Indicating Prime Buying Opportunity, Analyst Says

According to CoinShares, price depreciation, not selling pressure, was the 
main factor behind the drop in institutional BTC ETF exposure.

Institutional Bitcoin ETF holdings see first quarterly decline — Report

Circle had boosted its IPO to a range of $1.05 billion on June 4 as investor 
demand grew significantly.