Bitcoin $BTC showed renewed signs of life, pushing up 4.30% this week, while Ethereum $ETH lagged slightly, rising only 1.83% in the same week. Total crypto market cap continued to climb, rising by 2.56% to $2.4T, up from $2.34T from the previous week.
Liquidations stayed within the $300-400M range daily, across both long and short positions as volatility picked up from geopolitical tensions. Funding rates across the board rose slightly from heavily negative rates the week before, possibly signalling a more optimistic outlook for the market.
📌 Michael Saylor’s Strategy acquires 3,015 BTC for $204.1M, bringing their total holdings to 720,737 BTC.
📌 ETH treasury company, BitMine, acquires an additional 50,928 ETH in the past week, bringing their total holdings to 4.473M ETH.
Why does it matter?
Crypto markets seemed to have temporarily decoupled from weakness in traditional equities and Gold, with Bitcoin $BTC and notable altcoins moving strongly against the choppy traditional market.