Consolidating in the 90's
CME open interest plunge post settlement, leveraged ETH ETF exposure surges further, MicroStrategy adds more BTC while the U.S. government reactivates wallets.
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Bitcoin consolidates above $90,000 with a moderate weekly gain of 2%. Trading volume remains high but on a steady decline for the past two weeks. MicroStrategy acquired another 15,400 BTC, a considerable amount but notably less than its recent purchases. The U.S. government began moving coins again with 10,000 BTC sent to Coinbase Prime, leading to concerns of oncoming sell pressure. ETH shows relative strength along with some select altcoins. XRP entered the top 3 coins by market cap after a huge 89% gain over the past week. On Monday, IBIT surpassed 500,000 BTC under management. As measured by YTD $AUM growth, IBIT is the third-best performing ETF globally.
