Treasure (MAGIC) - Arbitrum Migration Ends - 30 May 2025

The vote on HIP 144 to introduce a Rewards Escrow period for Helium Mobile is noteworthy. If approved, it could delay rewards and affect liquidity in the short term, as holders might react negatively to waiting 30 days for rewards. On the positive side, it can stabilize prices and reduce immediate sell-offs, adding value in the long run. The vote result might be a key driving factor for HNT's price movement in the coming days, making it essential for traders to monitor. source

Geodnet's AMA with ROVR could spark interest. This meeting discusses a new partnership aiming to merge geospatial networks, which might boost the demand and awareness of GEOD tokens. The sense of community engagement and information flow can enhance trust in the project, potentially leading to price appreciation. However, if the AMA does not meet expectations or provide convincing details, it may deter potential investors. Traders might find short-term trading opportunities based on community reaction. source

As Bitcoin (BTC) inches closer to the coveted $100,000 mark, optimism in the broader cryptocurrency market is palpable. Following a recovery that saw Bitcoin rise to approximately $97,800 last week, it has since retraced to around $94,340, reflecting a slight 0.4% decrease over the last 24 hours, according to CoinGecko data. 

This comes on the heels of a significant sell-off in April, when Bitcoin dipped to as low as $74,000. However, renewed hopes for a new all-time high are emerging among investors and analysts of the market.

Bitcoin Bullishness Grows 

The bullish sentiment surrounding Bitcoin has been further emphasized by crypto analyst Doctor Profit, who suggests that the cryptocurrency is on a strong upward trajectory. He confidently states that in a year, Bitcoin will likely not fall below the $100,000 threshold again.

Last week, Doctor Profit noted that Bitcoin has surged over 25% since his entry point at $77,000. He highlighted a critical breakout above the “Hammer Line,” a key resistance level he had previously identified at around $85,000, asserting that this breakout would pave the way for further gains.

One of the primary catalysts for this recent surge, according to the analyst, has been the aggressive accumulation of Bitcoin by US-listed exchange-traded funds (ETFs). 

On Tuesday of the past week, these ETFs recorded nearly $1 billion in net inflows, marking one of the highest daily totals for the year. In just three trading days, a staggering $1.4 billion has been poured into Bitcoin ETFs, indicating a strong institutional appetite for the cryptocurrency during a period of market uncertainty.

Adding to the bullish narrative, Bitcoin’s liquid supply is dwindling at an alarming rate. Recent days have seen a significant decline in exchange reserves, as large buyers withdraw coins from centralized platforms to store them in cold wallets. 

Reports from OTC desks indicate thin supply levels, suggesting that major accumulation is taking place behind the scenes. Even established financial giants like Fidelity have issued warnings about an impending Bitcoin supply shock, further fueling investor interest.

$100,000 Target Within Reach?

Doctor Profit also highlighted a notable development not only for BTC, but for the broader digital asset industry as Binance recently disclosed that it has received inquiries from multiple governments worldwide regarding strategic reserves of Bitcoin. 

This signals a growing recognition among sovereign entities of Bitcoin’s potential role as a strategic asset, akin to gold. As countries contemplate their own Bitcoin reserves, questions arise about the availability of Bitcoin in the market and the implications of a supply shock.

Looking ahead, the analyst remains optimistic about Bitcoin’s trajectory. Following its recent momentum and the breakout above the Hammer Line, the $100,000 target appears increasingly achievable. 

Doctor Profit maintains that there is no change to his previous assessment and anticipates that the Federal Open Market Committee (FOMC) meeting this week will further influence market dynamics. He continues to express confidence that Bitcoin could not only reach $100,000 but also establish a new all-time high in the coming weeks.

Featured image from DALL-E, chart from TradingView.com 

Analytics account @lookonchain spread the word about the astounding cumulative acquisition of Bitcoin made by the BlackRock behemoth over the past two weeks.

According to the post shared on the social media platform X, over the past two weeks, the world’s largest wealth management company, BlackRock, has been stacking Sats, as Bitcoiners say, and has greatly expanded the BTC holdings of its spot Bitcoin exchange-traded fund (ETF) IBIT.

BlackRock leaves MSTR in dust by Bitcoin holdings

Over the past 14 days, IBIT has added 41,452 BTC to its stash. This amount of cryptocurrency is worth almost $4 billion in fiat. Now, the total BTC holdings of IBIT comprise 614,639 Bitcoins valued at an astonishing $58.07 billion.

BlackRock has been constantly ahead of another major company that has been actively accumulating the world’s flagship cryptocurrency – Strategy (formerly known as MicroStrategy). Strategy has been making BTC acquisitions quite frequently, sometimes every week thanks to large and successful fundraising campaigns.

Last week, the company founded and spearheaded by Michael Saylor announced a mammoth Bitcoin purchase of over $1.2 billion. On Monday this week, it spread the word about accumulating an additional 1,895 BTC, paying approximately $180 million for it.

In total, Strategy now holds 555,450 BTC, which is the equivalent of roughly $38 billion.

If Chris Burniske, a crypto analyst, is right, Solana might be headed for a collision with a meme-fueled milestone. According to Burniske, SOL could rise to $420, which would be in line with its previous cycle high in the pair if Bitcoin hits a cycle high of $142,069, an odd number with memetic connotations. 

Popular online jokes about various historical events that are not actually happening involve the numbers 69, 42 and 420. However, how likely is it that this meme prophecy will come true? In terms of price action, Solana has been gradually rising since its local bottom in late April. The 200 EMA, or $151 level, is the resistance it has been testing, and it has been difficult to move above it. Chart by TradingView">

The declining volume trend is a warning sign. Even with a solid structure, SOL needs actual demand to succeed. Macro tailwinds could push SOL into the upper $300s, possibly even approaching $420 if Bitcoin is able to rise to six figures, which would be more than a 50% increase from its current level.

The ratio must return to its previous highs, Bitcoin must regain parabolic momentum and Solana itself must avoid structural setbacks like outages or regulatory crackdowns. All of this depends on a number of factors coming into alignment. Though ambitious, these are not impossible. The short-term outlook is still unclear from a technical perspective.

The trend is still in place, but SOL needs to make a strong move to break through the $151 and $161 resistance levels in order to start gaining ground on targets like $200, let alone $420. The RSI for SOL is not overextended. In summary, Burniske's simulation thesis combines cyclical analysis and meme culture, and although the numbers appear jumbled, the math does add up — in the right circumstances. The goal is not fantasy if the market enters a genuine euphoric phase. At best it is speculative until then.

Bitcoin could reach between $500,000 and $1 million in the current market cycle, according to Binance founder Changpeng Zhao, or CZ, who shared his outlook during a recent interview that touched on both the state of crypto and his own role in the industry.

The entrepreneur pointed to growing institutional interest, changes in regulations and wider acceptance as the main reasons for his prediction. 

With Bitcoin ETFs approved in the U.S. and more involvement from sovereign wealth funds and traditional finance, he thinks the market is in a strong position to expand further. Zhao did not give a timeline but said the infrastructure and momentum are in place for a solid price move.

The conversation also covered the general direction of the crypto space. While meme coins have captured much of the attention, CZ noted that nearly all will likely fail.

He sees the long-term value instead coming from areas like artificial intelligence, decentralized science (DeSci) and real-world asset tokenization - segments that, in his view, are still underappreciated but gaining traction.

Now no longer the CEO of Binance, CZ described his current role as one of support rather than leadership. He remains a key shareholder and is focused on mentoring founders, investing in decentralized technologies and building educational platforms.

He said that centralized exchanges are still a major way for a lot of users to get involved, but in the long run, the future of trading is probably going to be more focused on decentralized infrastructure.

Reflecting on his four-month prison sentence, CZ described the experience as difficult but clarifying. It made him focus more on health, family and long-term impact instead of on running the business or being in the public eye.