Bakkt is acquiring a 30% stake in Japanese yarn maker Marusho Hotta as part of its pivot to crypto treasury services, with plans to rebrand the firm as bitcoin.jp.
Bitcoin’s tight consolidation and Ether’s shallow pullback suggest a directional move could be around the corner.
Bitcoin acquisition trends are leading to predictions of a major BTC supply shock, with bullish implications for price.
Paying rent in Bitcoin is easy, secure and gaining popularity among tenants. Many cities globally now have tech infrastructure to facilitate Bitcoin payments.
Crypto analysts echoed the positive sentiment around Bitcoin, with some speculating it could jump to $125,000 in the near term.
The Bitcoin market is in a “relatively balanced position” despite a recent price pullback from all-time highs, Glassnode said.
Fundstrat managing partner Tom Lee said Bitcoin should hit $1 million “over time” and isn’t ruling out $250,000 for 2025.
Bitcoin Indonesia said it recently pitched Bitcoin to the vice president’s office and discussed Bitcoin mining as a national reserve strategy.
Crypto derivatives volumes surged across major exchanges last month, with Binance leading at $2.55 trillion.
The performance of altcoins this week suggests “rapid derisking across the high-beta segments” of the crypto market.