Bitcoin’s recent price action has shown signs of fading momentum three weeks after reaching a new all-time high of $111,814. The leading cryptocurrency climbed back above $110,000 on Monday off the back of cooling U.S. inflation data and a temporarily weaker dollar. However, the rally was short-lived. Profit-taking, compounded by geopolitical tensions between Israel and Iran, has contributed to a risk-off environment that pushed Bitcoin down below $105,000 in the past 24 hours. This sharp reversal highlights a significant technical level that could decide whether Bitcoin sustains its uptrend or enters a crash towards $94,000. Final Fibonacci Resistance Holding The Line According to a new analysis shared by pseudonymous crypto analyst XForceGlobal on the social media platform X, Bitcoin’s current corrective structure could deepen if it fails to overcome the 88.6% Fibonacci resistance level. The analyst highlighted that the bullish impulse that carried Bitcoin now appears to be losing steam. Related Reading: Bitcoin Risks Pullback To $105,000 After Facing Rejection Above $110,000 The price zone around $110,500, which is marked by the 88.6% Fibonacci resistance, has not been convincingly breached, casting doubt on the strength of the current wave structure. Bitcoin tested this level twice earlier this week, and, as noted by the analyst, if this resistance level fails to break soon, there is a slight possibility of a deeper pullback. If this pullback does occur, this would lead to the formation of a corrective wave C, and with distinct symmetry in an ABC corrective pattern. In this case of the corrective Wave C playing out, the next central area of interest lies around the $94,000 level, an area that aligns with the completion of a larger impulse Wave 2. Wave 2 Dip To $96,000 Before Bullish Wave 3 Begins The rundown of a corrective Wave 2 and a bearish impulse Wave 2 is based on the outlook of Bitcoin failing to clear the 88.6% Fibonacci resistance at $110,000. Applying the Elliott wave count on the current price action shows that the recent push to $111,814 all-time high was a larger bullish impulse Wave 1. However, the ensuing correction since then has also played out in the form of a sub-wave 123 structure, and an ABC corrective pattern. Altogether, these are expected to make up a larger corrective impulse Wave 2. Related Reading: Bitcoin Price Risks Crash To $31,000 Amid 5-Wave Impulse Completion Nevertheless, XForceGlobal noted that Bitcoin is still in a highly bullish structure on the macro level. If the price action plays out this way, the next move after the impulse Wave 2 to $94,000 would be a reversal upwards with bullish impulse Wave 3. In this case, the analyst projected an expansion move that would send Bitcoin to another all-time high. Notably, the price target in this case would be a surge above $118,500. At the time of writing, Bitcoin is trading at $105,000, down by 2.5% in the past 24 hours. Featured image from Getty Images, chart from Tradingview.com
NewsBTC 2025-06-13 20:00
Here's why Peter Schiff's BTC 'major top' call may be premature.
AMB Crypto 2025-06-13 20:00
Andrew Kang, a partner at Mechanism Capital, recently highlighted that the regulatory actions implemented during the Trump administration’s trade war represented a critical low point for Bitcoin. According to Kang,
CoinOtag 2025-06-13 19:48
SharpLink Gaming Inc. has made a significant strategic move by acquiring $463 million worth of Ethereum, positioning itself as the second-largest ETH holder globally. This acquisition underscores SharpLink’s commitment to
CoinOtag 2025-06-13 19:35
Summary BITX offers strong short-term returns and liquidity, but is not suitable for long-term holding due to leverage decay and high fees. Compared to peers, BITX leads in assets and volume, but lower-fee competitors like BITU and BTCL have outperformed on total return since July 2024. MSTR stock has delivered better long-term Bitcoin leverage than any 2x ETF, without the high management fees of BITX. While still bullish on Bitcoin, I advise caution with leverage now, as rising global conflict may pressure risk assets, including BTC. When I first covered the Volatility Shares 2x Bitcoin Strategy ETF (BATS: BITX ) for Seeking Alpha back in late 2023 , I noted the fund offered juicy returns but that buyers of the ticker should be careful. As a leveraged fund, BITX is not intended for long-term holding and is designed for shorter-term trading. Still, given the sustained uptrend that Bitcoin ( BTC-USD ) has been in since the launch of BITX back late-June 2023, the fund's total return has actually been quite impressive for holders who have been hanging on this entire time. Data by YCharts While holding BITX since inception hasn't generated double the 250% return of BTC since it has certainly outperformed the coin itself. I have to repeat again that holding BITX this long is not what the fund is intended for. And buying the fund during large price surges can actually be quite detrimental to investor returns. But as the chart above shows, there are times when going long BTX offers a sizable upside. Could we be at another one of those times right now? In this update, we'll look at BITX compared to several other 'leveraged Bitcoin' options that the market has to offer. We'll also get into my technical view of BTC at this point in time and look at how Bitcoin reacted to the escalation in the Middle East during the morning hours of June 13th. BITX vs. Peers BITX is not the only leveraged Bitcoin fund in the market. For this comparison, we'll stack BITX up against the following funds: Proshares Ultra Bitcoin ETF ( BITU ) T-Rex 2x Long Bitcoin Daily Target ETF ( BTCL ) CoinShares/Valkyrie Bitcoin Futures Leveraged Strategy ETF ( BTFX ) Fund Comparison BITX BITU BTCL BTFX Issuer Volatility Shares Trust ProShares Rex Valkyrie ETF Trust II Inception 06/27/2023 04/01/2024 07/09/2024 02/21/2024 Expense Ratio 1.90% 0.95% 0.95% 1.86% AUM $2.85B $1.17B $51.83M $16.91M Source: Seeking Alpha, June 13th In terms of assets under management, BITX is the clear winner of the four funds, with nearly $3 billion in AUM. BITU has just under $1.2 billion, while BTCL and BTFX don't even crack the $100 million threshold. BITX also happens to be the most expensive of the funds at 1.9%. My view is the expense matters more if you're planning to hold something for a long period of time. For leveraged funds like these, as long as the fees are somewhat close, holders shouldn't feel much of a difference in terms of total return. We'll get into that metric shortly. I think one of the reasons why BITX has such a large AUM advantage over the other funds - beyond simply benefiting from first mover advantage - is that it pays out monthly dividends: Dividends BITX BITU BTCL BTFX Dividend Yield (TTM) 11.61% 5.06% 3.96% - Dividend Rate (TTM) $6.32 $2.61 $2.12 - Consecutive Years of Dividend Growth 0 Years 0 Years 0 Years - Dividend Frequency Monthly Monthly None - Source: Seeking Alpha, June 13th At a trailing twelve-month yield of 11.6%, BITX might be more appealing to potential buyers due to its larger payout than each of the other funds. BTFX is the only one that doesn't pay a yield at all. Given three of these four funds pay out a yield and the varying expense ratios of the products, total return is an important consideration. In the chart below, I'm showing the total return of the four funds since the inception of the newest one, which is BTCL. If designed properly, these funds should generally perform in close tandem, and they do: Data by YCharts The out-performers are BITU and BTCL - given these are the two funds with the smallest expense ratios, this should not be surprising. What this tells us is that the yields offered by these funds are not strong enough reasons to hold leveraged funds longer than shareholders perhaps should. Another consideration is liquidity. As trading instruments, I would argue this matters far more than any dividend yield these products have to offer. Fund Liquidity BITX BITU BTCL BTFX AUM $2.85B $1.17B $51.83M $16.91M Average Daily Share Volume 7,499,749 2,231,130 82,910 6,615 Share Price $54.42 $51.53 $53.49 $52.78 Average Daily Dollar Volume $408.14M $114.97M $4.43M $349.16K Avg Vol/AUM* 14.3% 9.8% 7.7% 2.4% Source: Seeking Alpha, June 13th, *analyst's calculation Here, BITX has another large edge over the rest of the leveraged funds in the market. At 14.3% average daily volume to AUM, traders who buy BITX have a better chance of getting in and out of their trades at the prices they want due to the stronger level of liquidity that the fund has over peers. Just for kicks, we can also compare the total returns of these tickers to something like Strategy ( MSTR ) common stock. That company is using leverage to orchestrate a massive Bitcoin flywheel that is currently working quite well to positive feedback loop BTC prices higher. Data by YCharts Here we see that MSTR shares have actually worked better as 2x leverage on Bitcoin than any of the actual 2x leveraged funds have. While all of the leveraged funds have outperformed Bitcoin since the inception of BTCL in July 2024, only MSTR shares have generated price returns double that of BTC. In fact, the 190% return has actually been more than double the 83% return of Bitcoin. And the real kicker is, MSTR doesn't charge a 1.9% management fee. Price Action Indications While there are exceptions, I generally prefer to look at Bitcoin through the weekly chart rather than anything shorter when I'm assessing directional cues: Bitcoin Weekly Chart (TrendSpider) Something that I've been pointing out for years is the relationship between the 8 and 20-week simple MAs. These levels are still favoring bulls in my view, but the conviction is becoming concerning in the 20-week MA. Unlike the 8 weeks, the 20 is no longer in a clear uptrend. This could indicate that we're getting closer to a short-term top in the coin. I should also point out the fairly obvious negative divergence in the weekly RSI. New highs in coin price are accompanied by lower highs in RSI. This is typically viewed as bearish behavior. As was the early morning action on June 13th: 5-day BTC vs XAU (Seeking Alpha) As tribal as these investment communities can be, I'll reiterate that I've long been of the view that investors with an anti-fiat philosophy haven't had to choose between Bitcoin and Gold ( XAUUSD:CUR ) when they can simply buy both. Though I've primarily covered Bitcoin and Digital Assets for Seeking Alpha over the last several years, I've been an advocate for Gold for longer. The escalation between Israel and Iran was met with action in the financial markets. For better or worse, Gold was viewed as the safe, risk-off asset, while Bitcoin was viewed as the opposite. Closing Summary BITX will work perfectly fine as a short-term trade for Bitcoiners or speculators who want leverage on Bitcoin's price moves. Despite the fund not experiencing the level of decay that has been seen in other leveraged ETF products, I maintain that BITX is not a product that should be held long-term. For long-term Bitcoin leverage, MSTR has been a far better alternative. Whether that remains the case is unknowable. Finally, while I'm still bullish on Bitcoin and have my core position, I don't think this is the time to be playing around with leverage on top of what is already a volatile asset. Given the increasing level of global conflict, I suspect we'll see pressure on risk assets broadly. I doubt Bitcoin will be immune from that.
Seeking Alpha 2025-06-13 19:22
Institutional Bitcoin adoption is accelerating, driven by growing regulatory clarity in the U.S. and significant corporate accumulation totaling $11.3 billion last month. Public companies like GameStop and international firms such
CoinOtag 2025-06-13 19:14
Bitwise CEO Hunter Horsley just explained why and how Bitcoin can reach astronomical $30 trillion market cap figure
U.Today 2025-06-13 19:12
BitcoinWorld Anthony Pompliano’s ProCapBTC Pursues Massive $750M Bitcoin Investment via SPAC Big news is circulating in the crypto world, and it involves a familiar name: Anthony Pompliano . The founder of Pomp Investments is reportedly embarking on an ambitious venture aimed squarely at acquiring a substantial amount of Bitcoin. This development signals a potential new avenue for significant Bitcoin investment , particularly through traditional financial structures. Who is Anthony Pompliano and What’s ProCapBTC’s Plan? Anthony Pompliano, widely known as “Pomp,” is a prominent figure in the cryptocurrency space. He’s an entrepreneur, investor, and commentator who has been a vocal advocate for Bitcoin and digital assets for years. His firm, Pomp Investments, focuses on building and investing in companies within the crypto industry. Now, according to a report by the Financial Times, Pomp is set to take the helm as CEO of a new public entity called ProCapBTC . The core mission of ProCapBTC is straightforward yet significant: to raise a substantial war chest specifically for purchasing Bitcoin. The target amount is a staggering $750 million. This move positions ProCapBTC as a dedicated vehicle for large-scale exposure to the leading cryptocurrency, potentially attracting investors who prefer accessing digital assets through publicly traded companies. Leveraging a Crypto SPAC for the Bitcoin Investment How does ProCapBTC plan to raise this considerable sum? The strategy involves merging with a special purpose acquisition company (SPAC) named Columbus Circle Capital 1. This mechanism is essentially a shortcut for a private company (ProCapBTC) to become publicly traded without going through the traditional initial public offering (IPO) process. The SPAC merger is intended to facilitate the capital raise in two parts: $500 million: Expected to be raised through equity, likely from investors participating in the SPAC transaction. $250 million: Planned through convertible debt, which can later be converted into equity under certain conditions. This approach highlights the increasing use of financial engineering, including the Crypto SPAC structure, to bridge the gap between traditional finance and the burgeoning digital asset market. SPACs offer speed and a degree of certainty compared to traditional IPOs, although they also come with their own set of risks and complexities. The Significance of a $750M Institutional Bitcoin Purchase A planned $750 million purchase of Bitcoin is a significant event, regardless of who is behind it. When a public company is specifically formed and capitalized with the explicit goal of holding Bitcoin, it underscores the growing trend of Institutional Bitcoin adoption. This isn’t just another fund allocating a small percentage; it’s a company built around the asset itself. Why is this happening? Several factors likely contribute: Demand: There is clear and growing demand from institutional investors and potentially retail investors via public markets for exposure to Bitcoin. Accessibility: A public company structure makes it easier for many types of investors, including institutions with strict mandates, to gain exposure compared to buying and holding Bitcoin directly. Belief in Bitcoin: Pomp and his associates are strong believers in Bitcoin’s long-term value proposition as a store of value and digital gold. If successful, ProCapBTC would join a growing list of publicly traded companies holding substantial amounts of Bitcoin on their balance sheets, although its model appears to be primarily focused on being a Bitcoin acquisition vehicle rather than an operating business that happens to hold Bitcoin. Challenges and Opportunities for ProCapBTC While the plan is ambitious, executing a $750 million Bitcoin investment through a SPAC merger isn’t without its hurdles. Potential challenges include: Market Volatility: The price of Bitcoin is notoriously volatile. The value of ProCapBTC’s holdings would fluctuate significantly, impacting its share price. Regulatory Environment: The regulatory landscape for cryptocurrencies and public companies dealing with them is still evolving. Execution Risk: Completing the SPAC merger and successfully raising the targeted $750 million requires navigating complex financial and legal processes. Premium to NAV: Publicly traded Bitcoin holding companies often trade at a premium or discount to the actual value of the Bitcoin they hold (Net Asset Value – NAV), which can add another layer of complexity for investors. However, the opportunities are also significant. If successful, ProCapBTC could become a major player providing accessible exposure to Bitcoin for a wide range of investors. The involvement of a well-known figure like Anthony Pompliano could lend credibility and attract investor interest. What to Watch For For those interested in this development, several key milestones are worth monitoring: Completion of the SPAC merger with Columbus Circle Capital 1. Successful execution of the $750 million capital raise (equity and debt). Confirmation of Pomp’s role as CEO. Details regarding the timing and strategy for the actual Bitcoin investment purchases. This initiative by ProCapBTC , led by Pomp, is a clear indicator of the continued drive to integrate digital assets into traditional financial frameworks and facilitate large-scale Institutional Bitcoin adoption. Conclusion The reported plan for Anthony Pompliano to lead ProCapBTC in a $750 million Bitcoin investment via a Crypto SPAC merger is a compelling development in the ongoing story of Institutional Bitcoin adoption. It represents a bold attempt to create a dedicated, publicly traded vehicle for significant Bitcoin exposure. While challenges exist, the potential for providing traditional investors with easier access to the world’s leading cryptocurrency is substantial. This move underscores the growing confidence in Bitcoin as a long-term asset and the innovative ways the market is finding to meet investor demand. To learn more about the latest Bitcoin trends, explore our article on key developments shaping Bitcoin institutional adoption. This post Anthony Pompliano’s ProCapBTC Pursues Massive $750M Bitcoin Investment via SPAC first appeared on BitcoinWorld and is written by Editorial Team
Bitcoin World 2025-06-13 19:10
Dogecoin (DOGE) is capturing renewed attention with ambitious $10 price targets amid growing ETF speculation and social media momentum. Meanwhile, Little Pepe (LILPEPE), a zero-tax meme token launching on a
CoinOtag 2025-06-13 19:07
The U.S. Securities and Exchange Commission (SEC) has recently appointed four senior executives, including two with significant expertise in digital assets, signaling a strategic shift under Chairman Paul Atkins. Effective
CoinOtag 2025-06-13 19:00
Ethereum faced intense selling pressure earlier today as geopolitical tensions flared following Israel’s attack on Iran, shaking global markets and triggering risk-off behavior across crypto. The sudden spike in volatility pushed Ethereum away from its recent highs, as it retraced after failing to break above the critical $3,000 resistance level. This marks a pivotal moment for ETH, which had shown strong momentum in recent sessions before being hit by the broader market downturn. Related Reading: Ethereum Repeats History – Key Support Holds Again Ahead Of Potential Rally Despite the sharp correction, top analyst Quinten Francois remains optimistic. He pointed to the ETH/BTC pair, which continues to look strong relative to other assets. According to Francois, this pair is currently testing the support line of an ascending triangle—a pattern that often precedes a breakout to the upside if support holds. With Bitcoin holding near its range highs, Ethereum’s performance against BTC could serve as a leading indicator for the broader altcoin market. Now, Ethereum stands at a crossroads. A bounce from current levels could renew bullish momentum and re-establish the $2,800–$3,000 range as the launchpad for higher prices. But failure to hold support may trigger another wave of downside pressure. All eyes are on ETH/BTC as markets brace for what comes next. Ethereum Holds Key Level Against BTC Ethereum has been leading the crypto market with impressive strength since April, posting a remarkable surge of over 100% from its lows near $1,400. This steep recovery highlights Ethereum’s growing momentum, positioning it as a potential frontrunner in triggering the next altseason. The asset’s consistent performance above key support levels and its resilience during market dips have renewed bullish sentiment, with traders increasingly focusing on ETH as the key asset to watch. Many analysts believe Ethereum could be the spark that reignites capital rotation into altcoins. Its breakout from a month-long range, combined with increasing DeFi activity and improving on-chain metrics, has added to the bullish case. However, caution remains. Ongoing geopolitical tensions—particularly the recent escalation between Israel and Iran—are injecting volatility into global markets, including crypto. These developments have disrupted otherwise promising technical setups across the board, leading to uncertainty and risk-off sentiment. Quinten Francois commented on the current climate, noting that “some charts don’t look good, others are holding on by a thread.” However, he singled out the ETH/BTC pair as a relative strength signal, stating that it “still looks good.” This pair is currently testing the support line of an ascending triangle—a structure that, if defended, could pave the way for a continuation of ETH’s dominance over Bitcoin. In this environment, Ethereum’s performance—especially relative to BTC—could determine the broader market’s next phase. If ETH/BTC holds and breaks higher, the door opens for a full altseason run. But a failure to hold could reinforce caution and signal a pause across the crypto market. For now, Ethereum remains the most important chart to watch. Related Reading: Ethereum Tests Previous Resistance As Support – Can Bulls Defend This Level? ETH Faces Sharp Rejection After Tagging Range Highs Ethereum is facing a crucial technical test after a strong rejection near the $2,830 resistance level. The chart shows ETH failing to hold above the highlighted supply zone between $2,700 and $2,830, where sellers stepped in aggressively. This resulted in a sharp breakdown that sliced through the 50, 100, and 200 simple moving averages (SMAs) on the 4-hour timeframe, now positioning ETH around $2,512. What’s more concerning is the spike in volume during the breakdown. This confirms the strength behind the move, signaling panic among bulls and potential distribution by short-term holders. ETH is now holding just above a previous support zone from early June, but the current setup suggests uncertainty and risk of further downside. Related Reading: Ethereum Price Tests Ascending Channel Resistance – Breakout Or Breakdown? Unless Ethereum can reclaim the $2,600–$2,620 area soon, the next likely target could be the $2,400 level, where the next strong demand cluster sits. However, if bulls defend current prices and manage a quick recovery back above the SMAs, this recent move could be interpreted as a liquidity sweep before continuation. Featured image from Dall-E, chart from TradingView
NewsBTC 2025-06-13 19:00
Bitcoin demonstrates resilience amid heightened Middle East tensions, with traders closely monitoring its price recovery alongside fluctuating oil markets. While geopolitical unrest has driven oil prices upward, Bitcoin’s recent rebound
CoinOtag 2025-06-13 18:44
2x Bitcoin Strategy ETF Vs Competing Bitcoin Leverage
