Grant Cardone’s real estate investment firm has bought 1,000 Bitcoin as part of its new treasury strategy combining real estate and crypto.

$5.1B Cardone Capital buys 1,000 Bitcoin, eyes another 3,000 BTC

The controversy stems from a Fed renovation project that went over budget, but 
many suspect it may be a covert tactic designed to push Jerome Powell out of 
the central bank. Did Jerome Powell Commit Perjury? Lawmakers Demand 
Accountability Florida Republican Anna Paulina Luna accused Federal Reserve 
Chairman Jerome Powell of perjury in a Thursday […]

Luna Accuses Fed Chairman Jerome Powell of Perjury

Bitcoin’s recent price action has continued its upward trajectory, with the 
asset trading as high as above the $120,000 price mark in the past 24 hours. 
The move suggests persistent bullish momentum following a period of sharp 
decline earlier this week. As the price inches closer to its all-time high, 
on-chain data is starting to paint a picture of solid transactional support 
behind the price movement. In particular, analysts have begun highlighting a 
divergence between Bitcoin’s market value and its underlying network activity. 
One such observation comes from CryptoQuant analyst Sunflowr Quant, who shared 
insights in a recent QuickTake post examining the unusual behavior of the NVT 
Golden Cross indicator. This metric, typically expected to rise in tandem with 
price due to its function as a ratio between market cap and transaction 
volume, is currently declining, which Sunflowr attributes to a significant 
uptick in on-chain activity. Related Reading: Bitcoin Rally Not Over Yet? 
Short-Term Holder MVRV Suggests Further Upside Bitcoin On-Chain Growth 
Suggests Underlying Network Strength According to Sunflowr, this inverse 
correlation between the rising BTC price and falling NVT Golden Cross may 
indicate that the current rally is driven more by actual usage and real 
transactions on the Bitcoin network rather than speculative trading. “A 
decline in the NVT ratio during a price increase implies that the transaction 
volume is rising at a faster pace than the market cap,” he wrote. “This can be 
interpreted as a sign that the rally is supported by real economic activity.” 
This observation aligns with the broader sentiment that healthy on-chain 
growth can serve as a foundation for more sustainable price increases. If 
transaction volumes are growing organically and not solely from derivatives 
speculation, it suggests that user adoption and financial utility are 
contributing to the price strength. Investors closely watching these 
indicators may find this a favorable environment, though caution remains as 
other metrics hint at evolving market dynamics. Holder Rotation Signals 
Potential Shift in Market Participation A separate analysis from CryptoQuant 
analyst IT Tech sheds light on another dimension of Bitcoin’s current market 
structure: holder behavior. In a post titled “Holder Rotation,” IT Tech notes 
that long-term holders, those who have held BTC for more than 155 days, have 
recently begun net distribution, meaning they’re selling more than 
accumulating. Conversely, short-term holders are showing net accumulation 
behavior once again, a dynamic often seen in late-stage rallies. This shift 
between long-term and short-term holders has historically served as a warning 
signal. Similar handoffs were observed in April 2021 and November 2023, both 
of which preceded local tops or cooling phases. While this doesn’t necessarily 
confirm a reversal, it highlights the need to monitor supporting metrics such 
as exchange inflows and funding rates. Related Reading: Bitcoin Trades Above 
$117K as Whale Deposits Decline and Stablecoin Inflows Rise “It’s a classic 
profit-taking pattern from seasoned wallets, while newer market participants 
may be entering due to rising prices,” IT Tech wrote. Featured image created 
with DALL-E, Chart from TradingView

Bitcoin Climbs, But NVT Indicator Sends a Surprising Signal

The IMF has finally referred to the current status of the accumulation of 
bitcoin by the government of El Salvador in its latest compliance report, 
stating that the government had been consolidating its bitcoin stash from 
several addresses into one. El Salvador Bitcoin Accumulation Mystery Revealed: 
IMF Reveals Consolidation Scheme The most recent report on […]

IMF Bombshell Footnote Solves El Salvador’s Bitcoin Accumulation Mystery

The on-chain analytics firm Glassnode has revealed an Ethereum indicator that 
reliably flagged the price bottom in advance of the recent rally. Ethereum 
NUPL Fell Into Capitulation Zone Earlier In a new post on X, Glassnode has 
talked about an Ethereum indicator from its joint report with cryptocurrency 
exchange Coinbase. The metric in question is the &#8220;Net Unrealized Profit/Loss,&#8221; 
which measures, as its name suggests, the net amount of profit or loss that 
the investors of the asset as a whole are holding right now. Related Reading: 
XRP MVRV Ratio Flashes Signal That Last Led To 630% Surge The metric works by 
going through the transaction history of each coin on the network to see what 
price it was last moved at. If this previous transfer value was more than the 
current spot price for any token, then that particular token is assumed be in 
a state of net unrealized loss. Similarly, a coin with a cost basis below the 
latest price is considered in profit. The NUPL sums up the degree of 
profit/loss involved in both cases and calculates the difference between them. 
When the value of the indicator is positive, it means the investors as a whole 
are sitting in a state of net unrealized profit. On the other hand, it being 
under the zero mark implies the dominance of loss in the market. Now, here is 
the chart shared by the analytics firm that shows the trend in the Bitcoin 
NUPL over the past few years: As is visible in the above graph, the Ethereum 
NUPL observed a significant decline earlier in the year when the asset&#8217;s price 
plummeted. In this plunge, the indicator went down to around -0.2, which 
suggests investors dipped into a net state of loss. Not just that, the level 
of relative unrealized loss present on the network was notable enough for the 
sentiment to be flagged as &#8220;capitulation&#8221; under Glassnode&#8217;s methodology. 
Related Reading: Bitcoin Sees Influx Of New Capital: First-Time Buyers Add 
140,000 BTC Often, cryptocurrency markets move in the direction that the crowd 
least expects, so the presence of a high amount of loss can lead to a bottom. 
From the chart, this seems to be what occurred when the NUPL dropped into the 
capitulation zone. With the price surge that has followed since this low, 
sentiment among Ethereum investors has naturally marked an improvement. The 
NUPL may be to keep an eye on, however, as once the balance shifts 
overwhelmingly towards profit, another shift in the market could become 
probable: this one to a downtrend. ETH Price Ethereum has broken away from 
Bitcoin as its price has jumped by more than 20% over the past week, reaching 
the $3,600 level. Featured image from Dall-E, Glassnode.com, chart from 
TradingView.com

This Ethereum Metric Called The Bottom Ahead Of Rally, Says Analytics Firm

Thumzup Media Corp. has approved plans to hold up to $250 million in crypto, 
expanding its treasury beyond bitcoin to include ethereum, solana, ripple, and 
more. Bold $250 Million Expanded Crypto Treasury Strategy Authorized by 
Thumzup Media Thumzup Media Corporation (Nasdaq: TZUP) has received board 
approval to hold up to $250 million in digital assets. […]