醫療公司Semler Scientific更新其比特幣持有量，目前爲3,808 BTC，價值3.95億美金，年初至今比特幣收益率爲22%。盡管淨虧損，該公司仍在繼續發展其比特幣國庫戰略。其他企業如Tether和Michael Saylor的戰略也在增加其比特幣持有量，積極影響現貨價格。

在5月13日，這家醫療保健公司對其比特幣持有情況和其他關鍵績效指標(KPIs)進行了更新，報告稱目前持有3,808 BTC，年初至今的比特幣收益率爲22%。

該公司的比特幣持有價值在當前市場價格下爲3.95億美元。


> “我們繼續利用運營現金流以及債務和股權融資的收益來不斷增加我們的比特幣儲備，”Semler Scientific的董事長Eric Semler說道。
> 
> 

他補充說，該公司推出了一個儀表盤，以向公衆提供定期更新的關於其BTC持有量和其他關鍵指標的信息。


> 
> $SMLR 報告 2025 年第一季度財務結果，並以 1780 萬美元收購 174 #比特幣，年初至今生成 BTC 收益率 22.2%。現在死拿 3,808 $BTC.
> 
> 
> — 埃裏克·塞姆勒 (@SemlerEric) May 13， 2025
> 
> 

## Semler 報告淨虧損 6500 萬美元

Semler在第一季度增加了894個比特幣，價值約9100萬美元，並在5月12日之前又增加了616個，比特幣價值近6000萬美元。該公司於2024年5月開始其BTC收購策略。最近一次購買是在5月12日，當時它購買了174個BTC。其平均收購價格爲每個BTC 89,277美元。

該公司是第十二大上市公司BTC持有者，僅次於德國的Bitcoin Group SE，依據BiTBO。


> Semler首席執行官Doug Murphy-Chutorian表示：“我們期待來自FDA批準的產品和服務的增長和現金生成，這將有助於我們的比特幣金庫戰略。”
> 
> 

然而，其收入數字並不美觀，報告的收入爲880萬美元，同比下降44%。Semler報告的淨虧損爲6470萬美元，每股虧損6.74美元，而2024年第一季度則實現了610萬美元的利潤。

公司股價(SMLR)當天小幅漲，但在盤後交易中跌至36美元。自2025年初以來，Semler股票已下跌32%。

該公司還報告與美國司法部達成了一項3000萬美元的和解協議，涉及一項民事調查要求。

## 企業大舉押注比特幣

本週，比特幣投資公司River報告稱，企業和公司今年迄今爲止以比機構資金和政府更快的速度收購BTC。

穩定幣發行商Tether本週爲其新合資企業Twenty One Capital購買了4,812個比特幣，總計4.587億美元。

與此同時，Michael Saylor的策略在5月12日以13.39億美元的價格增持了13,390比特幣。

因此，現貨價格有所上升，該資產在周三亞洲交易時段觸及了104,836美元的盤中高點，然後稍微回落。

Healthcare company Semler Scientific updates its Bitcoin holdings, now at 3,808 BTC valued at $395 million, with a 22% Bitcoin Yield YTD. Despite a net loss, the company continues to grow its Bitcoin treasury strategy. Other businesses like Tether and Michael Saylor's Strategy are also increasing their Bitcoin holdings, impacting spot prices positively.

On May 13, the healthcare company provided an update on its Bitcoin holdings and other key performance indicators (KPIs), reporting that it currently holds 3,808 BTC and has a Bitcoin Yield of 22% year to date.

The firm’s Bitcoin holdings are valued at $395 million at current market prices.


> “We continue to accretively grow our Bitcoin arsenal using operating cash flow and proceeds from debt and equity financings,” said Eric Semler, chairman of Semler Scientific.
> 
> 

He added that the firm has launched a dashboard to provide the public with regularly updated information on its BTC holdings and other key metrics.


> 
> $SMLR reports first quarter 2025 financial results and acquires 174 #Bitcoins for $17.8 million and has generated BTC Yield of 22.2% YTD. Now holding 3,808 $BTC.
> 
> 
> — Eric Semler (@SemlerEric) May 13, 2025
> 
> 

## Semler Reports $65M Net Loss

Semler added 894 bitcoins in Q1, worth around $91 million, and 616 more by May 12, worth almost $60 million. The firm began its BTC acquisition strategy in May 2024 Its most recent purchase was on May 12 when it bought 174 BTC. Its average acquisition price is $89,277 per BTC.

The firm is the twelfth-largest public company BTC holder, just behind Germany’s Bitcoin Group SE, according to BiTBO.


> Semler CEO Doug Murphy-Chutorian said, “We are expecting growth and cash generation from FDA-cleared products and services, which will add to our Bitcoin treasury strategy.”
> 
> 

However, its revenue figures were not as pretty, with $8.8 million in revenue reported, representing a 44% decrease year-over-year Semler reported a net loss of $64.7 million or $6.74 per share compared to a $6.1 million profit in Q1, 2024.

Company share prices (SMLR) were up marginally on the day but fell to $36 in after-hours trading. Semler stock has declined 32% since the beginning of 2025.

The firm also reported reaching a $30 million settlement agreement with the US Department of Justice regarding a civil investigative demand.

## Businesses Bet Big on Bitcoin

This week, Bitcoin investment firm River reported that businesses and corporations were acquiring BTC at a much faster pace than institutional funds and governments so far this year.

Stablecoin issuer Tether purchased 4,812 Bitcoin for a total of $458.7 million for its new venture partnership, Twenty One Capital, this week.

Meanwhile, Michael Saylor’s Strategy scooped up an additional 13,390 Bitcoin for $1.34 billion on May 12.

Spot prices have inched up as a result, with the asset hitting an intraday high of $104,836 before retreating slightly during the Wednesday Asian trading session.

Semler Scientific Posts $65M Loss But Grows Bitcoin Holdings to 3,808 BTC

Semler Scientific 發布6500萬美元虧損，但比特幣持倉增長至3808 BTC

Aurora Labs推出Aurora區塊，一個孵化器項目，支撐團隊在Near上構建AVM兼容的虛擬鏈，提供資金費用、指導和與Web3公司合作的機會，以在2025年之前推出1,000條虛擬鏈。

AURORA

NEAR

區塊

資金費

Web3

Aurora Labs，Aurora 協議的開發公司，一個可定制的，以太坊虛擬機(EVM)兼容的鏈的網路，作爲智能合約在 Near 區塊鏈上運行，已推出一個開發者孵化器計劃。

根據發送給 *CryptoPotato* 的新聞稿，這個爲期六周的孵化器項目被命名爲 Aurora Blocks。它的目的是幫助建立和快速推進在 Near 上構建 AVM 兼容虛擬鏈的早期團隊。

## Aurora Labs 發布孵化器項目

Aurora Blocks旨在爲五個選定團隊提供總計$250,000、技術指導、市場推廣支持和商業顧問服務。該計劃與多家專注於基礎設施、安全、增長和融資的Web3公司合作。

這些公司包括區塊鏈風險投資公司，如CV VC、Lemniscap，以及Web3去中心化雲服務提供商Aleph Cloud和Cere Network。區塊鏈公關和媒體營銷實體MarketAcross、安全審計公司Hacken、AuditOne，以及加密市場做市商Peanut Trade也與Aurora Blocks合作。

此外，該程序包括鏈上加密數據聚合器Mobula、去中心化身份驗證平台Privado ID，以及Cookie DAO，一個用於人工智能(AI)代理索引的去中心化自治組織(DAO)。

這些公司，包括 Near，將在整個項目中提供 1:1 的指導、研討會、諮詢會和基礎設施支持。Aurora Blocks 的目標是去中心化金融 (DeFi)、人工智能以及去中心化金融加人工智能 (DeFAI) 等領域。該項目還專注於比特幣第 2 層網路、現實世界資產 (RWAs) 和去中心化物理基礎設施網路 (DePIN) 等領域。

## 在Near協議上構建1,000條鏈

目標是在2025年推出1000條虛擬鏈，孵化器將幫助創始人從概念發展到完全運營的網路。這些鏈將專注於推動採用並展示實際效用。


> Aurora Labs 首席執行官 Alex Shevchenko 表示：“我們正在構建鏈上生態系統的未來——一次一個虛擬鏈。這個孵化器不僅僅是資金支持；我們還爲團隊提供基礎設施、指導和動力，使他們能夠推出真實產品、吸引用戶並實現規模化。Aurora Blocks 是將大膽想法變爲現實的關鍵。”
> 
> 

該項目的申請目前已開放，但將在5月28日後關閉。請在此申請，並有機會被選中獲得優質開發工具、指導、種子資金和法律支持。

值得注意的是，Aurora Blocks 將於 7 月 23 日舉行 Demo Day，屆時被選中的團隊將向投資者和 Near 協議首發他們的產品。

Aurora Labs introduces Aurora Blocks, an incubator program supporting teams building AVM-compatible Virtual Chains on Near, offering funding, mentorship, and partnership opportunities with Web3 firms to launch 1,000 Virtual Chains by 2025.

Aurora Labs, the developing company behind the Aurora protocol, a network of customizable, Ethereum Virtual Machine (EVM)-compatible chains that run as smart contracts on the Near blockchain, has unveiled an incubator program for developers.

According to a press release sent to *CryptoPotato*, the six-week incubator program is named Aurora Blocks. It has been created to help set up and fast-track early-stage teams building AVM-compatible Virtual Chains on Near.

## Aurora Labs Unveils Incubator Program

Aurora Blocks aims to offer five chosen teams a total of $250,000, technical mentorship, go-to-market support, and business advisory. The program is partnering with multiple Web3 firms focused on infrastructure, security, growth, and funding.

The firms include blockchain venture capital firms like CV VC, Lemniscap, and Web3 decentralized cloud services providers Aleph Cloud and Cere Network. Blockchain public relations and media marketing entity MarketAcross, security auditors Hacken, AuditOne, and crypto market maker Peanut Trade also partner with Aurora Blocks.

Additionally, the program includes the on-chain crypto data aggregator Mobula, the decentralized identity verification platform Privado ID, and Cookie DAO, a decentralised autonomous organisation (DAO) for artificial intelligence (AI) agents index.

These firms, including Near, will contribute 1:1 mentorship, workshops, advisory sessions, and infrastructure support throughout the program. Aurora Blocks targets sectors like Decentralized Finance (DeFi), AI, and DeFi plus AI (DeFAI). The program is also focusing on areas like Bitcoin layer-2 networks, real-world assets (RWAs), and decentralized physical infrastructure networks (DePIN).

## Building 1,000 Chains on Near Protocol

The goal is to launch 1,000 Virtual Chains in 2025, with the incubator helping founders evolve from concept to fully operational networks. The chains will be focused on driving adoption and showcasing real utility.


> Aurora Labs CEO Alex Shevchenko said, “We’re building the future of on-chain ecosystems—one Virtual Chain at a time. This incubator is about more than funding; we’re giving teams the infrastructure, guidance, and momentum they need to launch real products, attract users, and scale. Aurora Blocks is what allows us to turn bold ideas into reality.”
> 
> 

Applications for the program are currently open but will close after May 28. Apply here and stand a chance to be selected to receive premium developer tools, mentorship, seed funding, and legal support.

Notably, Aurora Blocks will have a Demo Day on July 23, during which the chosen teams will debut their products to investors and the Near protocol.

Aurora Labs Launches Incubator Program For EVM Developers on Near Protocol

Aurora Labs推出了針對Near Protocol上的EVM開發者的孵化器項目

狗狗幣反彈至$0.24以上，瞄準$0.36的阻力。槓杆交易者在期貨未平倉合約超過$16億的情況下增加倉位，暗示潛在的波動性。

DOGE

狗狗幣

平倉

波動性

**TL;博士**

* OG meme幣已經恢復了昨天的損失，並重新回升至$0.24以上，一位受歡迎的分析師指出下一個主要阻力位比當前水平高50%。
* 同時，鏈上數據表明，槓杆交易者繼續建立大量的DOGE頭寸。


> 
> 鏈上數據表明 #狗狗幣 $DOGE 在 $0.36 面臨重大阻力，而關鍵支撐區位於 $0.21。 pic.twitter.com/qIABWXmkKd
> 
> 
> — Ali (@ali\_charts) 2025 年 5 月 14 日
> 
> 

爲了達到馬丁內斯所指出的第一個主要阻力位，DOGE必須在其每週價格飆升中表現出色，這一周漲幅達到了40%。回想一下，這個最古老的 meme 幣在大約 $0.165 的位置掙扎，直到上周這個時候，整體市場轉爲看漲，DOGE 以令人印象深刻的方式乘勢而上，飆升至多月高點 $0.26。

昨天的修正使其下跌至馬丁內斯關鍵支撐區的0.22美元以下，但這一跌幅在很大程度上被抹去，DOGE現在的價格爲0.245美元。

與此同時，Glassnode 昨天表示，DOGE 期貨未平倉合約在過去一周內激增了近 64%，遠超 16 億美元。這意味着未平倉的做空和做多槓杆頭寸數量激增，這發生在 DOGE 的反彈降溫的有趣時刻。

根據分析公司，價格回調期間開放興趣的快速增加意味着交易者繼續建立投機頭寸，這可能導致市場一旦朝任一方向明確發展時波動性增強。


> 
> 盡管$DOGE從近期高點回落，期貨未平倉合約仍在上升，過去一周漲63.9% ($989M → $1.62B)。這種脫鉤表明持續的投機性頭寸，即使價格動能減弱——這是一個值得關注的情況： pic.twitter.com/icOVcqDffA
> 
> 
> — Glassnode (@glassnode) 2025 年 5 月 13 日
> 
>

DOGE bounces back above $0.24, eyeing resistance at $0.36. Leveraged traders increase positions amid rising Futures Open Interest surpassing $1.6 billion, hinting at potential volatility.

**TL;DR**

* The OG meme coin has recovered yesterday’s losses and is back above $0.24, with a popular analyst pointing out that the next major resistance is 50% higher than its current levels.
* At the same time, on-chain data reveals that leveraged traders continue to build big DOGE positions.


> 
> On-chain data shows #Dogecoin $DOGE faces major resistance at $0.36, while the key support zone to watch sits at $0.21. pic.twitter.com/qIABWXmkKd
> 
> 
> — Ali (@ali\_charts) May 14, 2025
> 
> 

In order to reach the first major resistance outlined by Martinez, DOGE would have to outperform its weekly price surge, which saw it gain 40%. Recall that the oldest meme coin struggled at around $0.165 until this time last week, when the overall market turned bullish and DOGE rode the wave in an impressive manner, surging to a multi-month peak of $0.26.

Yesterday’s correction, which pushed it south to Martinez’s key support zone of under $0.22, has been erased to a large extent, and DOGE now sits at $0.245.

Meanwhile, Glassnode said yesterday that the DOGE Futures Open Interest surged by almost 64% in the past week, going well above $1.6 billion. This means that the amount of open short and long leveraged positions has skyrocketed, which comes at an intriguing time when DOGE’s rally cooled off.

According to the analytics company, such a rapid increase in the Open Interest during price pullbacks means that traders continue to build speculative positions, which could result in enhanced volatility once the market heads decisively in either direction.


> 
> Despite $DOGE pulling back from its recent high, Futures Open Interest continues to rise, up +63.9% over the past week ($989M → $1.62B). This decoupling suggests persistent speculative positioning, even as price momentum fades – a setup worth monitoring:  pic.twitter.com/icOVcqDffA
> 
> 
> — glassnode (@glassnode) May 13, 2025
> 
>

Is Dogecoin Poised for Another 50% Surge? (Analyst)

狗狗幣是否準備再次漲50%？ (分析師)

以太坊 (ETH) 在6天內衝鋒超過49%，超過$2,700，引發"大反轉"的討論。機構購買和低費用推動上衝行情；專家警告在$2,400-$2,700區間的整合。

以太坊 (姨太) 以猛烈的勢頭重新回到了聚光燈下，在短短6天內飆升超過49%，瞬間突破$2,700，這是自2月23日以來未見的價格點。

在以太坊接近$1,800觸底後，始於5月7日的反彈重新點燃了長期沉寂的“翻轉”話題，即以太坊可能在市值上超過比特幣(BTC)。

## 從恐懼、不確定性和懷疑到害怕錯過

根據Santiment 5月13日的報告，以太坊在六天內的表現，從低於$1,800飆升至超過$2,700，標志着近期記憶中最劇烈的反彈之一，並引發了情緒的戲劇性轉變。

分析師布萊恩·Q部分歸因於加密貨幣的極度非理性人羣行爲。他指出，就在一周前，社交媒體上充斥着關於以太坊表現不佳的笑話，5月6日至7日期間，對ETH的看跌價格預期主導了在線對話，因爲該資產落後於競爭對手。

然而，一旦5月8日的反彈開始，市場情緒發生了戲劇性的轉變，散戶交易者爭相尋找入場點，一些人甚至猜測這款替代幣將漲至3,500美元及以上。


> “我們確實可以看到社交媒體上的價格呼叫如何完全反轉，因爲懷疑者被以太的反彈所沉默，”布賴恩·Q寫道。
> 
> 

Santiment 還指出，多年的表現不佳使市場習慣於忽視以太坊，直到當市場最不期待的時候，這個市值第二大的加密貨幣才開始漲。


> “隨着人羣的解散，”報告指出，“伴隨而來的是讓懷疑者感到震驚的大規模拉升。”
> 
> 

## 機構動態與鏈上信號

有趣的是，這次反彈恰逢一些機構投資者的積極積累。鏈上追蹤者Lookonchain報告稱，在過去一周，總部位於倫敦的Abraxas Capital購買了242,652姨太，價值約爲5.61億美元，其中185,309姨太在短短72小時內從交易所提取，價值4億美元。

專家表示，姨太的價格走勢不僅僅是一次短期擠壓，分析師Rekt Capital指出，該加密貨幣上周收盤價爲2,514美元，正式重新奪回了在2025年第一季度失去的宏觀2,200美元到3,900美元的區間。

“如果有任何下跌，必要的話，只會鞏固$2,200作爲區間底部支撐，”他在5月12日寫道，同時還強調了該資產在$2,900和$3,350之間填補宏觀CME缺口的嘗試。

以太坊的優勢還在於網絡費用環境出人意料地低。之前，Santiment指出，平均交易費用保持在約$0.84，遠低於六個月前的$7+，消除了一個常見的採用障礙。

然而，謹慎的聲音警告說，目前在$2,400和$2,700之間的交易區間可能是下一輪漲前的整合階段，或者可能是一次洗盤。根據Daan Crypto Trades的說法，如果動能減弱，可能會重新測試$2,300甚至$2,100。

Ethereum (ETH) surges over 49% in 6 days to surpass $2,700, sparking "flippening" talk. Institutional buying and low fees fuel rally; experts caution on consolidation at $2,400-$2,700 range.

Ethereum (ETH) has roared back into the spotlight with a vengeance, surging over 49% in just 6 days to briefly flash past $2,700, a price point not seen since February 23.

The rally, which began on May 7 after ETH bottomed near $1,800, has reignited talk of the long-dormant “flippening” narrative, in which Ethereum could overtake Bitcoin (BTC) in market capitalization.

## From FUD to FOMO

According to a May 13 report from Santiment, Ethereum’s six-day run, which took it from under $1,800 to over $2,700, marked one of the sharpest rebounds in recent memory and triggered a dramatic shift in sentiment.

Analyst Brian Q partly attributed the turnaround to crypto’s deeply irrational crowd behavior. He noted that just a week ago, social media was rife with jokes about Ethereum’s underperformance, with bearish price calls for ETH dominating online conversations between May 6 and 7 as the asset lagged behind rivals.

However, once the rally started on May 8, the mood flipped dramatically, as retail traders scrambled to justify entry points, with some speculating on the altcoin going to $3,500 and beyond.


> “We can really see how price calls across social media have done a complete 180 as doubters have been silenced by Ether’s rally,” wrote Brian Q.
> 
> 

Santiment also noted how years of underperformance had conditioned the market to dismiss Ethereum, only for the world’s second-largest cryptocurrency by market cap to pump when least expected.


> “With dismissal from the crowd,” the report stated, “comes massive pumps that blindside the doubters.”
> 
> 

## Institutional Moves and On-Chain Signals

Interestingly, the rally coincided with aggressive accumulation by some institutional players. On-chain tracker Lookonchain reported that in the last week, London-based Abraxas Capital bought 242,652 ETH worth some $561 million, with 185,309 ETH valued at $400 million plucked from exchanges in just 72 hours.

Experts say ETH’s price action is more than just a short squeeze, with analyst Rekt Capital pointing out that the cryptocurrency closed last week at $2,514, officially reclaiming its macro $2,200 to $3,900 range lost in the first quarter of 2025.

“Any dips, if needed at all, would only solidify $2,200 as range-low support,” he wrote on May 12, while also highlighting the asset’s attempts to fill a macro CME gap between $2,900 and $3,350.

Adding to Ethereum’s strength is the surprisingly low network fee environment. Previously, Santiment noted that average transaction fees remain around $0.84, well below the $7+ seen six months ago, removing a common barrier to adoption.

However, cautious voices have warned that the current trading zone between $2,400 and $2,700 could be a consolidation phase before the next leg up or a possible shakeout. According to Daan Crypto Trades, if momentum falters, there may be a possible retest down to $2,300 or even $2,100.

Ethereum’s 49% Rally in 6 Days Catches Doubters Off Guard: Santiment

以太坊在6天內漲49%讓懷疑者措手不及：Santiment

比特幣正在顯示唱多信號，隨着實現價格上升、機構資金流入和流動性供應增加。分析師預測進一步上升趨勢，BTC接近其歷史最高價。

STRONG

流動性

比特幣 (BTC) 繼續閃爍唱多信號，鏈上數據和技術指標強化了盡管短線回吐，仍在持續漲的敘述。

這種樂觀情緒的核心是旗艦加密貨幣的實現價格的上升，這是一個關鍵的市場指標，反映了目前流通中的BTC的平均購買價格。

## 實現價格信號維持牛市動能

根據CryptoQuant貢獻者Crypto Dan的分析，實際價格正在穩步上升，這一趨勢通常出現在唱多勢頭之前，而不是市場下跌之前。


> “實現價格上升的原因是越來越多的市場參與者以更高的價格購買比特幣，”Dan解釋道，並將這一持續增長描述爲“證據表明比特幣仍在其當前週期內處於上升趨勢。”
> 
> 

他將這種上升走勢的很大一部分歸因於通過現貨BTC ETF和像Strategy這樣的公司所帶來的機構資金流入，該公司最近以超過13.3億美元的價格購買了13,390 BTC。像Metaplanet這樣的其他公司也有所貢獻，收購了1,271 BTC，價格約爲1.267億美元。

這一穩定的資金流入不僅提振了市場情緒，還在實質上推動了鏈上指標的上升。

此外，導致這一趨勢的還有比特幣供應動態的歷史性變化。Glassnode的數據表明，這種加密貨幣的非流動供應量，即由很少出售的實體持有的比特幣，已達到1400萬BTC的週期高點。

這意味着長期持有者正在鎖定他們的資產並減少市場流動性，Santiment 報告稱，鯨魚在過去一個月中累計了額外的 83,000 BTC。觀察者通常將這種囤積行爲視爲投資者對未來價格將漲的信心的標志。

## 比特幣接近歷史最高點

技術面進一步印證了這種唱多情緒。CQ分析師Crazzyblockk最近透露，幣安的買賣方比例保持高位，表明持續的買入壓力，而主要交易所的資金費率仍然保持正值。

匿名分析師華爾街先生甚至預測，BTC可能在本輪市場週期結束前漲至200,000美元。

目前，比特幣的交易價格約爲$103,468，比昨天的價格略微下跌了0.9%，根據CoinGecko的數據，其在盤中最高達$104,536，最低爲$101,109。

小幅回調並沒有影響BTC在過去七天近10%的漲幅以及過去一個月幾乎22%的躍升。此外，BTC在年度範圍內漲超過64%，並且正逐漸逼近其歷史最高價$108,786，目前價格低於該價位不到5%。

Bitcoin is showing bullish signals with rising realized prices, institutional inflows, and increasing illiquid supply. Analysts predict further uptrend with BTC closing in on its all-time high.

Bitcoin (BTC) has continued to flash bullish signals, with on-chain data and technical indicators reinforcing the narrative of an ongoing uptrend despite minor short-term pullbacks.

At the heart of this optimism is the rise in the flagship cryptocurrency’s realized price, a key market metric that reflects the average purchase price of BTC currently in circulation.

## Realized Price Signals Sustained Bullish Momentum

According to an analysis by CryptoQuant contributor Crypto Dan, the realized price is climbing steadily, a trend that typically comes before bullish momentum rather than market downturns.


> “The reason the realized price is rising is that more and more market participants are purchasing Bitcoin at higher prices,” Dan explained, describing the ongoing increase as “evidence that Bitcoin is still in an uptrend within its current cycle.”
> 
> 

He attributed much of this upward movement to institutional inflows through spot BTC ETFs and corporations like Strategy, which recently bought 13,390 BTC for more than $1.3 billion. Others like Metaplanet have also contributed, acquiring 1,271 BTC for about $126.7 million.

This steady capital inflow has not just buoyed sentiment but is tangibly pushing on-chain metrics higher.

Also complementing this trend is a historic shift in Bitcoin’s supply dynamics. Data from Glassnode shows that the cryptocurrency’s illiquid supply, held by entities that rarely sell, has hit a cycle high of 14 million BTC.

It means that long-term holders are locking up their stash and reducing market liquidity, with Santiment reporting that whales have accumulated an additional 83,000 BTC in the last month. Observers often view this hoarding behavior as a sign that investors are confident prices will appreciate in the future.

## Bitcoin Closing in on ATH

The technical picture further echoes this bullishness. CQ analyst Crazzyblockk recently revealed that the Binance Taker Buy-Sell Ratio remains elevated, indicating consistent buying pressure, while funding rates on major exchanges have stayed positive.

Pseudonymous analyst Mr. Wall Street has even forecast that BTC could push as high as $200,000 before the end of this market cycle.

Presently, Bitcoin is trading at around $103,468, a slight 0.9% drop from yesterday’s price, having oscillated between an intraday high of $104,536 and a low of $101,109 per CoinGecko data.

The small dent hasn’t taken much away from BTC’s almost 10% gain in the last seven days and nearly 22% jump over the past month. Additionally, it is up more than 64% on a yearly scale, and edging ever closer to its all-time high of $108,786, which exceeds the current price by less than 5%.

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