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Bitcoin.com News

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Bitcoin.com News

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  • Bitcoin Liquidations Surge to $1.16 Billion; Economist Claims BTC Is 15% Lower vs. Gold Economist Peter Schiff has renewed his criticism of bitcoin, questioning its status as “digital gold” after the cryptocurrency marginally dropped following Israel’s military strike on Iranian nuclear facilities. Gold Surges After Israeli Strikes Economist and bitcoin critic Peter Schiff appeared to reignite a feud with bitcoin maximalists by questioning bitcoin ( BTC)’s “digital gold” credentials after it plummeted 2% just moments following Israel’s strike on alleged Iranian nuclear facilities. According to data, bitcoin at one point traded at $103,081 late on June 12 before it appeared to stage a recovery. Bitcoin Liquidations Surge to $1.16 Billion; Economist Claims BTC Is 15% Lower vs. Gold Although the top digital asset and indeed the entire crypto economy were already in the red prior to Israel’s strike, the action appeared to exacerbate matters for BTC, with oil and stock markets also taking a hit. At the time of writing (June 13, 5 a.m. CAT), BTC traded around $103,327, down 4.5% from 24 hours earlier. The drop saw more than $1.16 billion in long and short positions liquidated within 24 hours. Writing on social media, Schiff pointed to how BTC appeared to take a cue from traditional markets while gold, which is up more than 30% in 2025, went the opposite direction after the attack. “Israel attacks Iran. Oil prices jump 5% while S&P futures fall 1.5%,” Schiff wrote. “In response, investors seeking a safe haven buy gold, sending its price up 0.85%. Meanwhile, investors dump Bitcoin, pushing its price down 2%. How can anyone consider Bitcoin to be a digital version of gold?” ‘Latecomers Left Holding the Bag’ According to Schiff, if bitcoin was indeed a digital version of gold, its price should have risen in line with that of the precious metal. Meanwhile, in an earlier post, the economist claimed that BTC was “now more than 15% below its Nov. 2021 peak” — that is, when priced in gold. He argued that BTC’s failure to rise against gold despite the hype that has lasted three and half years “is strong evidence that the bubble has peaked.” Bitcoin Liquidations Surge to $1.16 Billion; Economist Claims BTC Is 15% Lower vs. Gold For context, in November 2021, BTC reached its then all-time high of just under $68,000, while gold was below $1,800 per ounce, as shown by data from financial data provider Goldprice.org. While gold continued to make incremental gains in the two years that followed, BTC trended downwards, and by November of the following year, it had dropped to a low of just under $16,000. Since then, BTC has trended upwards, with the top digital asset hitting a new all-time high of $111,814 on May 22. Gold, on the other hand, commenced its rally in the last quarter of 2023, with the precious metal reaching its peak of around $3,500 in April. However, despite BTC nearly doubling its price since its November 2021 peak, Schiff insisted that the cryptocurrency is 15% lower, when “priced in gold.” He ended the post stating: “A major top has been formed, as Bitcoin has been distributed from strong to weak hands. The whales have been cashing out to latecomers who will be left holding the bag.”
  • Crypto ETF Surge: Bitcoin and Ether Funds Attract Over $550 Million as Inflows Continue Bitcoin ETFs recorded another impressive inflow of $431 million, solidifying their recovery streak, while ether exchange-traded funds (ETFs) celebrated their 17th consecutive day of gains with a fresh $124.93 million inflow, pushing total net assets beyond the $10 billion milestone. Bitcoin ETFs Post Second Day of Strong Gains As Ether ETFs Mark 17 Days of Inflows and Break $10 Billion Barrier The crypto ETF market lit up green again on Tuesday, June 10, as bitcoin and ether funds kept their upward momentum alive. Investors continued piling into bitcoin ETFs with a $431.12 million net inflow, marking the 2nd straight day of robust fund entries. Leading the charge was Blackrock’s IBIT, soaking up $336.74 million, followed by Fidelity’s FBTC with $67.07 million and Ark 21shares’ ARKB adding $20.25 million. Even Invesco’s BTCO saw a decent $7.65 million inflow. Only Bitwise’s BITB experienced a minor outflow of $597k, which barely dented the bullish flow. Total trading volume hit $2.63 billion, and net assets surged to $132.83 billion. Crypto ETF Surge: Bitcoin and Ether Funds Attract Over $550 Million As Inflows Continue Ether ETFs 17-Day Inflow Run. Source: Sosovalue Meanwhile, ether ETFs extended their unstoppable streak to 17 consecutive days of inflows, this time pulling in a hefty $124.93 million, one of their largest daily haul in weeks. Blackrock’s ETHA led with $80.59 million, while Fidelity’s FETH attracted $26.32 million. Grayscale’s Ether Mini Trust and Bitwise’s ETHW contributed $9.67 million and $8.35 million, respectively. Total ether ETF trading volume soared to an impressive $849.04 million, with total net assets finally breaking past the $10 billion threshold, closing the day at $10.65 billion. With rising inflows and investor confidence building, the crypto ETF market is sending clear signals of sustained institutional interest.
  • Crypto ETF Surge: Bitcoin and Ether Funds Attract Over $550 Million as Inflows Continue Bitcoin ETFs recorded another impressive inflow of $431 million, solidifying their recovery streak, while ether exchange-traded funds (ETFs) celebrated their 17th consecutive day of gains with a fresh $124.93 million inflow, pushing total net assets beyond the $10 billion milestone. Bitcoin ETFs Post Second Day of Strong Gains As Ether ETFs Mark 17 Days of Inflows and Break $10 Billion Barrier The crypto ETF market lit up green again on Tuesday, June 10, as bitcoin and ether funds kept their upward momentum alive. Investors continued piling into bitcoin ETFs with a $431.12 million net inflow, marking the 2nd straight day of robust fund entries. Leading the charge was Blackrock’s IBIT, soaking up $336.74 million, followed by Fidelity’s FBTC with $67.07 million and Ark 21shares’ ARKB adding $20.25 million. Even Invesco’s BTCO saw a decent $7.65 million inflow. Only Bitwise’s BITB experienced a minor outflow of $597k, which barely dented the bullish flow. Total trading volume hit $2.63 billion, and net assets surged to $132.83 billion. Crypto ETF Surge: Bitcoin and Ether Funds Attract Over $550 Million As Inflows Continue Ether ETFs 17-Day Inflow Run. Source: Sosovalue Meanwhile, ether ETFs extended their unstoppable streak to 17 consecutive days of inflows, this time pulling in a hefty $124.93 million, one of their largest daily haul in weeks. Blackrock’s ETHA led with $80.59 million, while Fidelity’s FETH attracted $26.32 million. Grayscale’s Ether Mini Trust and Bitwise’s ETHW contributed $9.67 million and $8.35 million, respectively. Total ether ETF trading volume soared to an impressive $849.04 million, with total net assets finally breaking past the $10 billion threshold, closing the day at $10.65 billion. With rising inflows and investor confidence building, the crypto ETF market is sending clear signals of sustained institutional interest.
  • NEW: Tiger Royalties invested £250,000 in Standard Strategies, backing its portfolio of Bitcoin treasury companies including Strategy and Metaplanet.
  • Bitcoin Price Watch: Range-Bound Action Hints at Imminent Move Jamie Redman Bitcoin Price Watch: Range-Bound Action Hints at Imminent Move The price of bitcoin hovered at $105,384 on June 8, 2025, with a market capitalization of $2.09 trillion and a 24-hour trading volume of $15.81 billion. Throughout the session, it moved within a tight intraday range of $105,112 to $105,891, indicating relative short-term stability amid a broader consolidation. Bitcoin The 1-hour chart analysis reveals a consolidation phase for bitcoin between $105,000 and $106,000, suggesting indecision in the immediate market direction. The last peak at $106,000 created a rounded top pattern, hinting at weakening bullish momentum. With support forming at $104,500, a breakout above $106,000 backed by strong bullish volume could ignite a fresh upward leg. Conversely, a price dip to the $104,800 level accompanied by decreasing sell volume might serve as a scalp buy opportunity. An appropriate exit for short-term positions lies near $106,500–$107,000, with stop-loss placements advised below $104,500 to mitigate downside risk. Bitcoin Price Watch: Range-Bound Action Hints at Imminent Move BTC/USD 1-hour chart on June 8, 2025. On the 4-hour chart, bitcoin illustrated a V-shaped recovery after dipping to $100,426, with a series of higher highs and higher lows manifesting since June 6. Despite this bullish structure, resistance at $106,800 has formed, and recent candlestick patterns signal market hesitation near that level. A confirmed breakout above this resistance could validate a long entry, whereas rejection may lead to a pullback toward the $102,500–$103,000 zone. Traders eyeing this time frame should consider entries around $104,500–$105,000 and stagger exits between $107,000–$108,000, maintaining vigilance for false breakouts amid declining volume. Bitcoin Price Watch: Range-Bound Action Hints at Imminent Move BTC/USD 4-hour chart on June 8, 2025. Daily BTC/USD chart data supports a bullish macro trend from late May into early June, peaking at $112,000 before experiencing a corrective retracement. The pullback found stability within the $100,000–$102,000 support zone, which has been tested multiple times. The price is now consolidating near $106,000–$108,000, suggesting a period of accumulation. For swing traders, a return to the $104,000–$105,000 range—especially with a long lower wick or a volume spike—may present a high-probability entry point. Profitable exits could be targeted at $108,000–$110,000, with stops recommended just below $102,000. Bitcoin Price Watch: Range-Bound Action Hints at Imminent Move BTC/USD daily chart on June 8, 2025. Oscillator readings provide mixed signals, with most indicators aligning in neutral territory. The relative strength index (RSI) at 53, Stochastic at 46, and commodity channel index (CCI) at −39 all reflect an indecisive market stance. The average directional index (ADX) at 20 reinforces this by suggesting a weak trend. Meanwhile, the Awesome oscillator and moving average convergence divergence (MACD) also lean neutral to bearish, with MACD indicating a negative bias. The momentum indicator, however, suggests positivity, signaling a potential upward thrust if supported by broader market sentiment. Moving averages lend weight to the medium-to-long-term bullish outlook. Both the exponential moving average (EMA) and simple moving average (SMA) across 10, 20, 30, 50, 100, and 200-periods largely show buy signals. Notably, the 10-period EMA and SMA, standing at $105,142 and $104,756 respectively, support the current price, bolstering short-term bullishness. The 20-period EMA also confirms this with a value of $105,048, although the 20 and 30-period SMAs flash sell signals at $106,593 and $105,795. Longer-term averages—including the 100 and 200-period EMAs and SMAs—all favor buying, underlining structural strength beneath the price. Bull Verdict: Bitcoin remains structurally sound above critical support zones, with the majority of medium-to-long-term moving averages favoring further gains. A break above $106,800 with sustained volume would confirm bullish continuation, targeting $108,000 and beyond. Accumulation on dips to $104,500–$105,000 appears tactically favorable under current conditions. Bear Verdict: Despite its recent recovery, bitcoin faces mounting resistance near $106,800 and exhibits waning momentum on lower timeframes. Oscillators largely signal market indecision, and volume trends suggest a risk of false breakouts. Should support at $104,500 fail, a deeper pullback toward $102,000 or below remains a plausible scenario.
  • If It Keeps the Pace, Blackrock’s IBIT Is on Track to Seize 1 Million BTC by Early 2026 Based on current data, the 12 U.S. spot bitcoin exchange-traded funds (ETFs) collectively manage over 1.2 million BTC. Yet, two in particular—Blackrock’s IBIT and Fidelity’s FBTC—command a striking majority, accounting for more than 71% of that aggregate. Wall Street’s Bitcoin Giants: IBIT, FBTC, MSTR Tighten Grip on Bitcoin’s Scarce Supply Blackrock’s IBIT debuted on Wall Street on Jan. 11, 2024—exactly 1 year, 4 months, and 26 days ago. As of data collected on June 5, 2025, the firm’s Ishares Bitcoin Trust ETF controls roughly 662,707.41 BTC, translating to $69.2 billion in value. This single ETF alone accounts for 55.23% of the 1.2 million BTC managed by the 12 publicly traded bitcoin funds. If It Keeps the Pace, Blackrock’s IBIT Is on Track to Seize 1 Million BTC by Early 2026 Blackrock’s cache of BTC is a staggering 662,707.41 BTC as of June 5. This reserve quote should lower following IBIT’s $130.49 million in outflows on Friday, June 6, 2025. IBIT’s holdings comprise 3.16% of bitcoin’s 21 million fixed supply and 3.34% of the 19,875,085.22 BTC in circulation at the time of publication. No other crypto exchange-traded product (ETP) has achieved this scale of accumulation this fast. Although IBIT and its peers trade five days a week, observing holidays and pauses, if IBIT had been acquiring BTC every calendar day since Jan. 11, 2024, its daily haul would be approximately 1,296.88 BTC over that stretch. If this cadence continues, Blackrock’s ETF is projected to reach 1 million BTC by Feb. 21, 2026—just 260 days from now—representing 4.76% of bitcoin’s hard cap. Fidelity’s FBTC, by contrast, has taken a more tempered route. Over the same 1 year, 4 months, and 26 days, it has gathered 196,264.34 BTC, currently worth just over $20 billion at prevailing rates. Applying identical calculations, FBTC has averaged 389.34 BTC per day since Jan. 11, 2024. While FBTC holds the distinction of being the second-largest U.S. bitcoin ETF, its trajectory has been far more measured than IBIT’s accumulation. Should it maintain this current rhythm, FBTC would hit the 500,000 BTC milestone by around July 18, 2027. Consider Strategy (formerly Microstrategy), which initiated its bitcoin (BTC) acquisitions on Aug. 11, 2020. Averaged out, this translates to a daily accumulation rate of 330.09 BTC. If that same trajectory holds steady, Strategy will not cross the 1 million BTC threshold until Oct. 27, 2028. The accelerating competition among major financial institutions for bitcoin dominance hints at a deeper strategic shift unfolding beneath the surface. With accumulation timelines now plotted years into the future, these ETFs are not merely chasing assets—they’re staking claims in a digital monetary order. What began as a race for returns may well evolve into a contest over monetary influence itself.
  • Eric Trump Shuts Down Magic Eden Memecoin Wallet, But Will Still Invest in the Creators Trump Memecoin Wallet Kiboshed, but Potential Investment May Be on the Horizon While mainstream media has been fixated on the ongoing war of words between U.S. President Donald Trump and Tesla CEO Elon Musk over the president’s “big, beautiful bill,” crypto enthusiasts have been following a different feud – the spat between the Trump family, Magic Eden, and Fight Fight Fight LLC (Fight), the company behind the $2 billion Trump memecoin. Fight, run by entrepreneur and Trump supporter Bill Zanker, who is reportedly also a friend of the president, launched the Trump memecoin in January. The token quickly became the most successful memecoin on the market. But things turned sour on Tuesday when Fight unveiled plans to launch a new wallet for the Trump memecoin in collaboration with Magic Eden, a popular NFT platform. The president’s sons, Eric Trump and Donald Trump Jr., both took to social media to disavow the project. According to the Trumps, their family’s crypto firm World Liberty Financial (WLFI) has plans to launch its own wallet at some point in the future. Then on Thursday Bloomberg reported that WLFI had sent a cease-and-desist letter to Fight. And now, Eric Trump has announced that Fight’s wallet launch has been canceled, but some form of reconciliation has also transpired, and WLFI will make a “substantial” investment in Fight’s Trump token. “I am proud to announce the $TRUMP memecoin has aligned with World Liberty Financial,” Eric Trump wrote in a post on X. “Although their meme wallet isn’t moving forward, they remain focused on building the most exciting meme on earth – $TRUMP. Moreover, we’re proud to announce that World Liberty Financial plans to acquire a substantial position in $TRUMP for their long-term treasury.” Bitcoin.com reached out to Magic Eden for commentary, but the firm has yet to respond.
  • MEXC Reports 200% Surge in Coordinated Fraud Attempts in Q1 2025 Cryptocurrency exchange MEXC reported a significant 200% increase in coordinated fraudulent trading activity in the first quarter of 2025. Most fraudulent activity is concentrated in Asia, with India accounting for nearly 27,000 or 33% of flagged accounts. Fraudulent Activity Concentrated in Asia Cryptocurrency exchange MEXC reported a sharp, 200% increase in coordinated fraudulent trading activity during the first quarter of 2025. MEXC attributes the surge in fraud attempts to its proactive listing strategy, which includes emerging market tokens, as well as its low fee structure. According to MEXC’s data, much of the activity is concentrated in Asia, with India accounting for nearly 27,000, or a third (33%), of flagged accounts. The Commonwealth of Independent States (CIS) had the next highest number with 6,404 flagged accounts, followed by Indonesia with 5,603. Indonesia saw by far the largest increase with a 1,303% rise in suspicious activity versus Q4 2024, while the CIS region experienced a 245% rise. Reflecting on how criminals have grown more sophisticated since 2021, when they seemingly focused on decentralized finance platforms, Tracy Jin, COO of MEXC, said: While 2021 was marked by DeFi exploits, 2025 is increasingly characterized by socially engineered market manipulation. We’ve observed a growing number of so-called ‘educational’ trading groups that appear to be coordinated efforts to mislead users. This trend highlights the importance of user education and proactive protection, especially for younger investors who may be more susceptible to persuasive but harmful narratives. As noted in a blog post, the surge in fraud across these regions exposes a broader structural issue: user growth in these markets is outpacing financial education and platform literacy. The post cites a report released by the National Centre for Financial Education in February 2025 that found only 27% of Indian adults meet basic financial literacy standards. This is even more pronounced among millennials. This mismatch, MEXC argues, not only exposes individuals to greater fraud risk but also undermines sustainable wealth creation and long-term trust in the ecosystem. The blog post also highlights the role played by influencers in convincing new users to make certain investment decisions. The post notes that some malicious individuals lure large numbers of users via social media channels promoting “pump groups” or “secret token launches.” In markets with large retail user bases and low financial literacy, these factors increase users’ vulnerability to syndicate recruitment and manipulation. To counter fraudsters and their schemes, MEXC said it has increased monitoring of small-cap tokens and strengthened risk-monitoring tools that flag anomalous behavior. The crypto exchange is also restricting accounts exhibiting suspicious activity under global anti-money laundering guidelines and internal protocols aligned with Financial Action Task Force recommendations.
  • From $100M Wipeout to $98M Gamble—Wynn’s Back and Betting Big on BTC Following last week’s liquidation event exceeding $100 million, the infamous Hyperliquid trader James Wynn has once again plunged into the deep end—this time reopening a 40x long position on bitcoin, now valued at more than $98 million. On Monday, June 2, 2025, the widely recognized Hyperliquid trader James Wynn initiated another high-leverage derivatives bet, going long on bitcoin ( BTC). On X, Wynn told followers to “ buy BTC right now” to “support the cause” and “fight the corruption.” He alleges that his position was targeted the moment it went live, asserting he was “hunted” and speculating about the existence of an “agenda,” even though he admits he’s unclear about its nature. From $100M Wipeout to $98M Gamble—Wynn’s Back and Betting Big on BTC Wynn’s perp trade. Some have posited that Wynn fell victim to “liquidation hunting,” a strategy designed to capitalize on the vulnerabilities of traders employing high leverage. As of Monday, Wynn’s fresh bitcoin long position carries 40x leverage, with the wager now valued at $98 million. His entry point was $105,890 per coin, placing the liquidation threshold at $103,640 per BTC, according to Hypurrscan data recorded at 8 a.m. Eastern on June 2. Roughly 40 minutes prior, Wynn took to X in an effort to galvanize buyers, calling on followers to accumulate more BTC. “ Buy BTC now,” he urged. “Buy their manipulation. Take their bitcoin from them. [I am] your bait to drive [the] price lower,” the Hyperliquid trader added. Social media reactions leaned sharply skeptical, with several suggesting that Wynn’s missteps stem not from market manipulation but from poor judgment. “Bro went from a hero to a beggar in just week,” quipped the X user known as ‘Psycho,’ replying bluntly to Wynn’s latest post.

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