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Согласно данным аналитической платформы Chainalysis, по состоянию на июнь 2025 года участники российского крипторынка увеличили вложения в цифровые активы до $25,4 млрд, что эквивалентно 2,3 трлн рублей.

As Bitcoin (BTC) continues to hold above the psychologically important $100,000 price level, a “true paradigm shift” is emerging among investors. Notably, exchange deposit activity is declining, signalling growing confidence in BTC as a reliable store of value.

Bitcoin Deposit Address Activity Plunges To Historic Lows

According to a recent CryptoQuant Quicktake post by on-chain contributor Darkfost, there has been a noticeable shift in the number of BTC wallet addresses depositing to exchanges since the 2021 bull cycle.

The analyst shared the following chart to support their analysis. It shows a steady increase in the number of addresses depositing BTC on exchanges between 2015 and 2021, peaking at an annual average of approximately 180,000.

However, this trend has sharply reversed since then and has shown no signs of recovery. Notably, the 10-year average for the number of addresses depositing BTC to exchanges currently sits around 90,000.

Shorter-term metrics reinforce this decline. The 30-day moving average (MA) is hovering around 48,000, while the daily figure has dropped to just 37,000. This drastic behavioral shift among investors can be attributed to two key factors.

First, the emergence of BTC exchange-traded funds (ETFs) has redirected a significant portion of demand away from spot exchanges. ETFs allow exposure to Bitcoin’s price performance without the complexity or risk of self-custody.

Second, retail participation has been relatively subdued in the current market cycle, naturally reducing the number of active deposit addresses.The analyst noted:

More investors, and now even companies, are adopting a long-term vision for BTC, choosing to hold it as savings or treasury reserves rather than actively trading it.

Is BTC Preparing For A New High?

As the number of addresses depositing BTC to exchanges continues to decline, several indicators point toward the potential for a new all-time high (ATH). Recent analysis by crypto analyst CryptoGoos suggests that short-term sellers are “getting exhausted,” implying that selling pressure may ease soon.

Similarly, the Bitcoin Rainbow Chart – a long-term valuation model used to identify overvaluation and undervaluation zones – recently flashed a “buy” signal. Although, the wider market demand remains weak.

Macroeconomic conditions are also turning favorable. An increase in the global M2 money supply is expected to benefit risk-on assets like Bitcoin. Some experts now predict BTC could rise as high as $150,000 as liquidity expands.

That said, not all signs are bullish. Miner-to-exchange transfers have recently spiked to historic highs, potentially signalling increased selling pressure from BTC miners. At press time, BTC is trading at $105,141, up 2.6% in the past 24 hours.

A steady drumbeat of policy updates and big-money moves has kept Bitcoin in the headlines this month. According to keynotes delivered at BTC Prague 2025, the cryptocurrency’s path is now being drawn in decades—rather than days.

Geopolitical And Regulatory Push

Based on reports from Strategy’s executive offices, US regulators have taken a friendlier turn since July 2024. New cabinet roles now include digital asset advisers. The SEC, OCC, and Federal Reserve have each signaled that Bitcoin plays a role in modern finance. Congress has also weighed the Bitcoin Act and Clarity Act, and those talks are still underway.

Institutions Pile In With Billions

According to recent filings, more than $150 billion of fresh capital has flowed into crypto holdings. Institutional wallets now hold around 1.4 million BTC. Public companies in the “Bitcoin 100” club include US President’s Donald Trump Media, GameStop, SmarterWeb, and Metaplanet. ETF approvals have added 10 new ways for both small investors and big firms to buy Bitcoin.

Long-Term Forecast Anchored In Math

Now, here’s the most interesting part: Michael Saylor outlined a 21-year outlook that ties BTC value to global money trends instead of quick trades. He set a target of $21 million per coin by 2046.

By that time, owning 4.8 Bitcoin could turn someone into a centaillionaire, based on simple math. Saylor pointed out a 56% annual return over the last five years. He compared that to a 13% cost of capital for many firms.

DCA Strategies Vs. Traditional Holding

Based on reports from Strategy’s research team, a $2 million dollar-cost averaging plan in Bitcoin would have grown to $40 million. The same $2 million parked in the S&P500 would be worth about $6 million today.

Add in smart borrowing through equity issuance, Saylor said, and the upside climbs to $760 million—if markets cooperate.

Volatility, he noted, is part of Bitcoin’s early life cycle. Companies should lock in low-rate funding and plan for price swings. Markets can move fast, and falling values often trigger margin calls.

The coming months will test whether policy stays warm and big investors keep their faith. For now, Bitcoin’s story is shifting toward a multi-decade saga of adoption, regulation, and big bets.

Will It Happen?

Investors will be watching each Fed statement and corporate balance sheet near as much as they watch price charts. They may take the proverbial grain of salt on Saylor’s $21 million per Bitcoin by 2046.

But many say the real story isn’t the $21 million figure itself. It’s the steady march of new rules and big names piling into Bitcoin that could shape its future far more than any single price forecast.

Investors will be tuning in to every policy update and balance-sheet reveal, looking for signs that this decades-long experiment can keep gaining ground.

Featured image from Sony Pictures, chart from TradingView

 

After setting a new all-time high (ATH) earlier in the month, the Bitcoin Hashrate has seen a crash. Here’s what this could mean for the asset.

7-Day Average Bitcoin Hashrate Has Plummeted Since The Record

The “Hashrate” refers to an indicator that measures the total amount of computing power that miners have connected to the Bitcoin network for the purpose of mining. The metric’s value is measured in terms of hashes per second (H/s), or the more practical exahashes per second (EH/s).

When the value of this indicator rises, it means the miners are adding more power to the blockchain. Such a trend suggests BTC mining is looking profitable to these chain validators.

On the other hand, the metric going down can imply some of the cohort’s members are coming under pressure, so they have decided to scale back on their facilities.

Now, here is a chart from Blockchain.com that shows the trend in the 7-day average of the Bitcoin Hashrate over the past year:

As displayed in the above graph, the 7-day average Bitcoin Hashrate saw a rapid increase to a new ATH of about 943.6 EH/s on June 15th. Since this peak, however, the indicator has witnessed a sharp reversal. Today, the miners’ computing power amounts to 834.8 EH/s, more than 11% down compared to the record.

Considering the fast decline, it’s possible that miners are feeling financial pressure. And indeed, according to an on-chain model, this group can currently be classified as extremely underpaid.

The miners may also be feeling bearish about the cryptocurrency, considering all the geopolitical events that have occurred since the high in the Hashrate, feeding into market uncertainty.

Miners depend on growth in the asset’s price to improve their margins, so their behavior is often linked to the trend in the coin itself. Sometimes, miners do expand or decommission operations anticipating future action, though these bets don’t always pay off.

From the chart, it’s visible that this isn’t the first time this year that the indicator has seen a quick top followed by a rapid decline. Since April, the metric has now displayed this pattern four times, with the peak setting a slightly bigger record in each instance.

Considering this trend, it’s possible that the latest drawdown may also just be similar, and the 7-day average Hashrate would rebound before long. That said, in the scenario that the decline does elongate beyond the current point, which is already close to the low of the metric’s recent range, then it could potentially signal that a real shift may be taking place among the miners.

Generally, though, miners changing the Hashrate doesn’t impact the Bitcoin price, at least not directly. What a decline can signal, however, is distress among the group, which can force them into selling.

BTC Price

At the time of writing, Bitcoin is floating around $105,100, down 0.3% in the last seven days.

South Korea is on the verge of setting clear rules for stablecoins. Lawmakers are moving fast. If passed, the Digital Asset Innovation Act could reshape how people pay for goods and services. It will also test the strength of banks and card companies.

High Capital Barriers For Issuers

According to reports, any stablecoin issuer must hold at least ₩1 billion (about USD 720 258) in equity capital. That rule will leave small startups on the sidelines. Only big players or deep-pocketed firms will qualify.

The move comes as Democratic Party members on the National Assembly’s Political Affairs Committee prepare to roll out the bill next month. It aims to define stablecoins as “value-stable digital assets” and to lay down clear ground rules.

Pressure On Card Companies

Card providers could feel the squeeze. Based on reports from New Daily Kyungjae, experts warn that stablecoins may weaken the payment base for credit cards. That could threaten the industry’s long-term health.

Card companies are already coping with a rising loan default rate of 1.93% in Q1, nearly brushing against the 2% danger mark. Three of the biggest firms—KB Kookmin, Hana, and BC Card—have already passed 2% this year. Those figures point to trouble if some transactions shift to tokens.

Bank Concerns Rise

The Bank of Korea isn’t sold on stablecoins. It has urged caution and warned that digital tokens might hurt the banking sector. If people start using stablecoins for daily spending, banks could lose fees and deposits.

According to the central bank, that could undercut commercial banking profits. Banks may have to rethink their plans or build their own digital services to keep customers.

Tech Firms Ready To Act

While banks and card issuers fret, tech giants are lining up. Naver and Kakao have been working on blockchain projects for years. They see a chance to plug a won-backed token into their apps and services.

Hyundai HT and Hyundai Mobis are also watching closely. Other names on the list include Kocom, MediaZen, Kaon Media, and Bridgetec. Analysts suggest that a Naver stablecoin, linked with web3 services or even the Line chat app in Japan, could open new markets.

Speculation Hits Stocks And Crypto

Investors have already leapt in before the vote. Home-based crypto and stock markets are abuzz. The shares of companies that have been known to look at stablecoins have surged. That indicates growing enthusiasm. But it also comes with danger—if the legislation becomes stalled or altered, prices might reverse direction.

Featured image from Unsplash, chart from TradingView

Bitcoin is once again at a critical juncture after reclaiming key levels above the $105,000 mark. Over the weekend, BTC experienced extreme volatility triggered by the US military’s strike on Iran’s nuclear facilities, sparking panic across global markets. However, yesterday’s announcement of a ceasefire between Israel and Iran brought relief, fueling a sharp recovery in Bitcoin’s price.

This week is expected to be decisive in determining Bitcoin’s short-term trajectory. While bulls have managed to regain control in the near term, uncertainty remains elevated due to global tensions and macroeconomic headwinds. On-chain data from CryptoQuant provides further insight into current market dynamics. Since mid-April, the Realized Cap of the 0–1 month age cohort has surged by $66 billion.

Despite this selling pressure, Bitcoin has held within a narrow range, suggesting that demand is strong enough to absorb recent profits. If bulls can build on current momentum, Bitcoin could be setting the stage for its next major move. All eyes are now on whether BTC can push beyond $109K to retest all-time highs.

Bitcoin Consolidates As Market Absorbs Profit-Taking Pressure

Bitcoin recently faced intense volatility, plunging to $98,000 before staging a sharp rebound above the $105,000 mark. This recovery comes amid growing concerns about a potential double top formation, which has fueled bearish sentiment among market participants. Despite this psychological pressure, on-chain data continues to show a resilient market structure with no major warning signs of an imminent collapse.

According to top analyst Axel Adler, since April 13, the Realized Cap of the 0–1 month age cohort has increased by $66 billion. This metric reflects significant profit-taking activity from short-term holders who entered positions during the rally. Approximately 720,000 BTC have been sold during this period, adding substantial supply pressure to the market.

However, what’s notable is how Bitcoin has managed to absorb this selling volume without collapsing. Prices have remained largely within a narrow consolidation range, suggesting that buyers are stepping in to match the outflow. This kind of accumulation often signals strength beneath the surface, even when price action appears uncertain.

The broader market is now watching closely to see whether Bitcoin can maintain momentum above $105K and push toward retesting the $109K–$112K resistance zone. Until then, consolidation remains the dominant trend, potentially a calm before the next major move.

BTC Tests Resistance After Reclaiming $105K

Bitcoin’s 4-hour chart shows a strong rebound from the $98,000 lows, with the price currently hovering around $105,300. This move follows a sharp surge in buying momentum that pushed BTC above the key $103,600 support-turned-resistance level. The reclaim of this level, combined with a decisive close above the 50 and 100-period moving averages, signals renewed bullish interest.

Volume has also spiked significantly during the latest bounce, indicating real market participation and not just a short squeeze. However, BTC is now approaching a major confluence zone between $105,500 and $106,000, where the 200-period moving average and a recent horizontal resistance zone converge. This range has acted as a rejection area several times in June, and price action here will determine if BTC can aim for the next resistance at $109,300.

Until BTC breaks above $106K with strong volume, the broader market structure remains neutral to slightly bullish. The higher low formed during the bounce from $98K gives bulls some confidence, but confirmation will come only if price consolidates above the 200-MA and pushes toward the May highs.

Featured image from Dall-E, chart from TradingView

The Federal Housing Finance Agency (FHFA) in the United States is exploring whether crypto assets like Bitcoin and stablecoins could be considered part of the asset base used to determine mortgage eligibility.

The move could significantly impact how financial institutions assess creditworthiness, especially if cryptocurrency becomes formally recognized in the mortgage underwriting process.

SEC Rule Change Paves Way for Crypto Integration

William Pulte, the current director of the FHFA, announced via a post on X that the agency will study the use of cryptocurrency holdings in relation to mortgage qualification.

We will study the usage pf cryptocurrency holdings as it relates to qualifying for mortgages.

— Pulte (@pulte) June 24, 2025

If approved, this would represent a structural shift in the way traditional lending institutions integrate with digital asset markets. The FHFA regulates government-sponsored entities such as Fannie Mae and Freddie Mac, which play a central role in the US mortgage market.

Prior to this development, banks were limited in their ability to provide crypto-backed loans due to US Securities and Exchange Commission (SEC) guidance known as SAB 121.

This rule required publicly listed firms to report crypto held on behalf of clients as liabilities, making it capital-intensive for banks to handle these assets. However, this guidance was rescinded in January 2025, creating a regulatory opening for more expansive crypto integration into financial services, including mortgage lending.

Although crypto-backed mortgages already exist through niche financial companies, they are typically reserved for high-net-worth individuals or tech-savvy investors.

These offerings often involve borrowers securing loans in fiat currency while pledging digital assets as collateral, with strict requirements and the risk of margin calls if asset values fall.

If the FHFA moves forward with including digital currency in mortgage assessments, such services may become more accessible and could be offered by traditional banking institutions.

Potential Policy Implications and Changing Borrower Profiles

Inclusion of crypto holdings in mortgage assessments could have broader implications for both borrowers and lenders. A report released in late 2024 highlighted a trend where some low-income households had been using profits from cryptocurrency investments to pay down mortgage debt.

The same report noted a marked increase in borrowing in areas with high levels of digital currency adoption, suggesting that digital assets are becoming a financial tool across a wider socioeconomic spectrum.

The FHFA has not yet outlined a timeline for implementing any changes, nor has it specified which cryptocurrencies might qualify as eligible assets. However, the agency’s willingness to explore such an option indicates a growing acceptance of digital assets in regulatory circles.

Future policy discussions are expected to focus on risk assessment, asset volatility, and standardized guidelines for valuation. Whether this leads to the emergence of crypto-integrated mortgage products from major US banks remains to be seen, but the discussion signals an evolving view of what constitutes viable wealth in modern finance.

Featured image created with DALL-E, Chart from TradingView

Bitcoin has experienced sharp volatility in recent days, driven by escalating and de-escalating geopolitical tensions in the Middle East. Over the weekend, BTC broke below the key $100,000 psychological level following reports of US military strikes on Iranian nuclear facilities, sparking panic among investors. However, sentiment swiftly shifted when news of a ceasefire agreement between Israel and Iran broke, triggering a strong rally. Bitcoin surged back above $105,000, highlighting the market’s hypersensitivity to global conflict headlines.

Supporting this recovery is data from the UTXO Block P/L Count Ratio Model by CryptoQuant, which offers insight into investor behavior. At the $112K peak earlier this month, the model recorded a spike to 34,000 points, signaling a wave of profit-taking as many holders sold into strength. Since then, the metric has plunged to just 216 points, suggesting that profitable selling has dried up, and a growing portion of transactions are now being realized at a loss.

This shift indicates that sellers have largely stepped aside, and buyers are beginning to take control at these lower levels. As long as Bitcoin maintains strength above $100K, the path forward could favor a more stable recovery.

Bitcoin Eyes Stability After Volatile Surge

Bitcoin is once again at a pivotal moment, having surged more than 7% in under 25 hours to reclaim higher price levels above $105,000. While the bounce has renewed bullish hopes, Bitcoin remains firmly within the consolidation range that has defined price action since May. Despite the aggressive move, short-term direction remains unclear as global tensions—especially in the Middle East—and tightening macroeconomic conditions continue to inject volatility into the market.

Top analyst Axel Adler shared fresh insights that highlight a key shift in investor behavior. According to CryptoQuant’s UTXO Block P/L Count Ratio Model, when Bitcoin hit its $112,000 all-time high earlier this month, the model spiked to 34,000 points. This marked a wave of profit-taking, as many investors capitalized on peak valuations. However, the metric has since plummeted to just 216 points, indicating that profitable sales have virtually vanished and that more participants are now realizing losses.

This steep decline signals that sellers have largely exited the market, creating space for new buyers to accumulate at lower levels. The shift in behavior suggests that while downside risks still exist, a sharp price crash is less likely in the near term. With selling pressure cooling and long-term conviction returning, Bitcoin appears to be entering a more constructive phase.

BTC Holds Above Key Support Amid Rebound Attempt

The daily Bitcoin chart reveals a sharp bounce from the $98,200 low back toward the $105,000 region, reclaiming a critical support zone near $103,600. This level had previously acted as both support and resistance since March and is now a key battleground for bulls. Price briefly dropped below the 50-day simple moving average (SMA) but has quickly recovered above it, signaling renewed short-term strength.

The bounce also comes after Bitcoin tested the 100-day SMA (near $96,000), a historically reliable area of buyer interest during corrective phases. However, despite the bullish reaction, BTC has yet to reclaim the $109,300 resistance level that capped multiple rallies since early June.

The spike in volume on the most recent green candle suggests demand is returning at lower levels, validating on-chain data that indicated sellers are stepping aside. Still, Bitcoin remains in a broad consolidation pattern, and a failure to break above $109,300 would keep the current rangebound structure intact.

To signal a true trend reversal and renewed momentum toward all-time highs, BTC must close decisively above $109,300. Until then, traders should expect continued choppiness as macro uncertainty and geopolitical events weigh on short-term sentiment.

Featured image from Dall-E, chart from TradingView