According to a statement released on May 26, Strategy funded this significant Bitcoin purchase through the sale of several equity instruments between May 19 and 25. The company sold 847,000 shares of its Class A common stock (MSTR), bringing in $348.7 million in net proceeds. Additional capital was raised by selling 678,970 shares of its perpetual strike preferred stock (STRK) for $67.9 million and 104,423 shares of its Series A perpetual strife preferred stock (STRF) for another $10.4 million.

This latest buy is Strategy’s fourth Bitcoin accumulation in May, representing around nine days’ worth of new BTC supply. It also marks the company’s first major purchase since Bitcoin set its new record price. With this acquisition, Strategy now holds a staggering 580,250 BTC—about 2.76% of the total 21 million coins that will ever exist.

In total, the company has spent an estimated $40.6 billion to amass its Bitcoin reserves, with an average cost per coin of $69,979. Given Bitcoin’s current market value, the company’s holdings are now worth $63.8 billion, putting its unrealized gains above $23 billion.

Strategy’s aggressive accumulation strategy continues to cement its position as a major institutional force in the Bitcoin ecosystem, and its moves are closely watched by both crypto investors and traditional markets.

The post Strategy Buys Another 4,020 BTC After Bitcoin’s Record High, Now Holds Over 2.7% of Total Supply first appeared on Crypto Corus - Your Daily Dose of Crypto Clarity.

This article covers the scale and causes of the liquidations, key data from top exchanges, what’s driving the volatility, and what traders are watching next as Bitcoin’s record run meets macro headwinds.

Record-Breaking Volatility and Massive Position Wipeout

According to Coinglass data, crypto derivatives traders saw $551 million in positions liquidated over the past day, with long trades accounting for roughly $395.5 million — nearly three-quarters of the losses. Shorts were not spared either, tallying $155.8 million in forced liquidations. The single biggest liquidation was a $9.53 million BTC-USDT swap on OKX.

• Total crypto liquidations: $551 million in 24 hours.
• Number of traders liquidated: 162,994.
• Largest single liquidation: $9.53 million BTC-USDT swap on OKX.
• Share of long liquidations: 72 percent.

Bybit traders suffered the most ($197.1 million in liquidations, 79% long), followed by Binance ($161.1 million) and OKX ($81.1 million). Ethereum futures added another $140.2 million to the margin call tally, as broad volatility swept through the altcoin market.

What Triggered the Bitcoin Reversal?

Bitcoin soared to a new all-time high above $111,000 on May 22, only to drop sharply to $107,000 and recover to $110,000 during London trading hours on Friday. The volatility was amplified by a combination of factors:

• Global macro tensions, as U.S. President Donald Trump threatened a 50% tariff on EU imports. The news rattled equity markets and spilled over into crypto, sending risk assets lower.
• Elevated funding rates and aggressive long positioning, with many traders betting on further upside ahead of the record print. When the market reversed, these crowded trades were rapidly unwound.

What’s Next for Bitcoin and Crypto Markets?

With funding rates still elevated, traders are now watching closely to see if these flip negative — often a signal of short-term capitulation. The $105,000–$107,000 support zone, carved out during early May trading, remains a key level for Bitcoin. Should prices drop below, further liquidations and volatility could follow.

Macro events continue to loom large: traders are eyeing the upcoming U.S. PCE inflation data due May 30 and potential developments in the ongoing U.S.-EU tariff dispute for clues on risk sentiment and market direction.

“The unwind followed Bitcoin’s surge to a fresh all-time high above $111,000… and then back to $110,000 during London trading on Friday.”

• Longs remain vulnerable if the market fails to reclaim recent highs.
• Shorts could be squeezed if risk appetite returns and macro headwinds ease.
• Market eyes are fixed on both technical support and global economic headlines for the next major move.

As crypto volatility remains elevated and macro risks persist, traders should brace for more wild swings — and manage risk accordingly.

The post Bitcoin’s $111,000 Whiplash Triggers $550 Million in Crypto Liquidations first appeared on Crypto Corus - Your Daily Dose of Crypto Clarity.

This article explains the reasoning behind Timmer’s allocation rule, examines recent market performance for both assets, and highlights key risks and tactical considerations for investors looking to blend traditional and digital stores of value.

Bitcoin’s Rally Spurs New Allocation Framework

As of May 16, 2025, Bitcoin traded near $103,600 while gold hit $3,213 per ounce. Notably, both assets’ 52-week Sharpe ratios—a measure of risk-adjusted returns—have drawn closer: gold at 1.33 and Bitcoin at –0.40. While gold has delivered 67 record closes since early 2024 and is up 33% year-to-date, Bitcoin has climbed roughly 25% from its April low of $76,000. This convergence in risk and return profiles prompted Timmer’s fresh look at portfolio construction.

Why 4:1? The Volatility Match

According to Timmer, scaling gold exposure to four times that of Bitcoin closely aligns the two assets’ historical volatility and cumulative returns. This means that a portfolio with 80% gold and 20% Bitcoin can achieve a risk level similar to holding just gold, while still capturing some of Bitcoin’s upside potential. This approach reframes gold and Bitcoin as complementary, rather than rival, stores of value.

“At a 4:1 ratio, gold’s volatility has been roughly equal to Bitcoin, as has its relative performance.”
— Jurrien Timmer, Fidelity (X post, May 16, 2025)

• Gold price: $3,213 per ounce (May 16, 2025).
• Bitcoin price: $103,600 (May 16, 2025).
• Sharpe ratio (52 weeks): Gold 1.33, Bitcoin –0.40.
• Recommended allocation: 4 parts gold, 1 part Bitcoin.

Portfolio Benefits and Tactical Opportunities

Blending gold and Bitcoin can temper the volatility typical of crypto investing, while retaining a strong long-term return profile. Timmer’s model suggests:

• The “sleeve” of gold buffers against Bitcoin’s sharper drawdowns.
• The combination offers exposure to both inflation protection and digital asset growth.
• Investors can tactically rebalance: as Bitcoin’s Sharpe ratio improves and gold’s trend softens, a larger allocation to crypto may be justified.

This balanced approach may appeal to institutional and individual investors seeking store-of-value alternatives to fiat currencies and bonds, particularly in a high-inflation, uncertain macro environment.

Risks Remain: Why Not All-in on Crypto

Despite the promise of this blended allocation, Timmer cautions that Bitcoin’s Sharpe ratio remains negative and its volatility is still high. Regulatory uncertainty, liquidity shocks, or adverse macro events could widen the performance gap once again, especially if crypto markets turn sharply lower or face new crackdowns.

Summary Table: Gold and Bitcoin Store-of-Value Comparison

Key Takeaway: A Modern Store-of-Value Playbook

Jurrien Timmer’s 4:1 gold-to-Bitcoin heuristic marks a new phase in portfolio strategy for store-of-value seekers. By pairing the stability of gold with the growth potential of Bitcoin, investors may find a more balanced way to hedge inflation, participate in crypto gains, and manage risk in an uncertain financial world. As Sharpe ratios and market trends evolve, this allocation model offers a flexible foundation for ongoing portfolio rebalancing.

The post Fidelity’s Timmer: Balance Gold and Bitcoin 4:1 for Smoother Store-of-Value Returns first appeared on Crypto Corus - Your Daily Dose of Crypto Clarity.

This article breaks down the rapid rise in open interest, contrasts spot and futures activity, highlights which exchanges drove the surge, and analyzes what this means for Ethereum’s next big move.

Open Interest Climbs as Ethereum Price Breaks Out

On May 8, Ethereum broke out above $2,000 for the first time since March, ending weeks of sideways trading below the psychological threshold. The move unleashed a wave of speculative activity: futures open interest soared from $20.77 billion at the start of May to $31.16 billion by mid-month, a 50% increase.

The timing is crucial. Open interest ramped up after the breakout, suggesting that traders were not anticipating the move, but instead rushed to add leveraged exposure once ETH showed real strength. This points to a reactive market, with momentum chasers crowding in after confirmation of an uptrend.

Spot vs. Futures: Diverging Sentiment

While spot prices climbed sharply — ETH reached $2,700 by May 13 — the surge in open interest far outpaced increases in spot trading volumes. In other words, the market’s enthusiasm was largely fueled by futures and derivatives, not by underlying spot demand.

Exchange Breakdown: Retail Drives the Move

Most of the action was concentrated on retail-friendly platforms like Binance and Bybit, where traders rushed to open new positions. In contrast, the CME — a key venue for institutional investors — posted a more muted response, even seeing a 5% decline in open interest over a 24-hour span. This divergence suggests the rally was retail-driven, with institutions taking a more cautious stance.

• Binance and Bybit: Large inflows and aggressive futures positioning.
• CME: Open interest decline, reflecting cautious or profit-taking institutional flows.

Risks: Rapid Buildup Raises Liquidation Threats

The explosive growth in leveraged futures positions introduces a potential risk for the market. When open interest builds quickly on a price rally without a comparable rise in spot buying, the market can become top-heavy. If ETH fails to defend key support levels, especially $2,000, a wave of forced liquidations could follow — accelerating any downside and shaking out overleveraged traders.

“A rapid buildup of open interest without continuous spot demand leaves the market vulnerable to deleveraging events.”

Outlook: Watch the $2,000 Level for Direction

Ethereum’s ability to hold above $2,000 will be critical in determining whether the bullish run has staying power. If spot demand picks up to match futures enthusiasm, the rally could extend higher. But if leveraged bets continue to dominate while spot interest lags, traders should prepare for potential volatility and sharp corrections.

• Ethereum futures open interest rose from $20.77B to $31.16B in two weeks.
• The surge followed — rather than anticipated — ETH’s breakout above $2,000.
• Retail-driven exchanges led the move, while institutional venues stayed cautious.
• Fragility remains if open interest isn’t backed by sustained spot demand.

For now, Ethereum’s next chapter will be written at the $2,000 level — and the interplay between spot buyers and leveraged traders will decide whether this surge leads to new highs or a swift reversal.

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This article unpacks the interplay between XRP’s liquidity growth, buy/sell ratio dynamics, and the resulting impact on price resilience throughout the volatile first half of May.

Liquidity Surge Cushions Early Speculation

XRP’s DEX liquidity soared after a sharp dip at the start of May, breaking above $21 billion by May 9 and maintaining high levels through mid-month. This liquidity influx coincided with a strong, albeit temporary, surge in speculative buying: on May 4, the DEX buy/sell ratio shot to 17.5, signaling aggressive accumulation. Yet, rather than sparking a dramatic breakout or fast reversal, the extra liquidity helped absorb order flow and kept price movements gradual.

Measured Price Gains Despite Buy Spike

Between May 7 and May 13, XRP climbed from roughly $2.15 to $2.51 on DEXs. During this window, the buy/sell ratio rapidly normalized, falling back below 1.5 by May 12. Notably, as the buy/sell ratio settled, the price continued its steady ascent—evidence that the rally was not just a product of short-term speculation but was instead supported by broader market structure improvements.

Balanced Markets Enable Steady Rally

After the initial speculative wave passed, XRP’s DEX buy/sell ratio stabilized in the 1.4–1.5 range. At the same time, liquidity remained robust above $19 billion, preventing abrupt price drops or whipsaw reversals. This indicates a healthy market environment: as short-term buying pressure eased, sufficient depth was present to accommodate shifts in order flow without destabilizing the market.

Why Liquidity Matters for XRP’s Path Forward

Rising and resilient liquidity can help reduce the risk of sharp corrections by allowing the market to better absorb large trades or order imbalances. For XRP, the liquidity cushion helped keep prices trending steadily upward even in the face of dramatic, short-lived surges in buy activity. This kind of environment tends to support sustainable rallies, as seen with XRP’s controlled rise above $2.5 rather than a classic pump-and-dump scenario.

“Robust liquidity like this reduces the risk of sudden reversals and can lead to a more sustainable rally in the short term.”

• DEX liquidity for XRP surpassed $21 billion by May 9 and stayed strong through May 14.
• The DEX buy/sell ratio peaked at 17.5 on May 4 but quickly retreated below 1.5 as buying cooled.
• XRP’s price climbed from $2.15 to $2.51 between May 7 and May 13, despite volatility in order flow.
• Consistent liquidity above $19 billion helped absorb market shocks and keep price action stable.

XRP’s experience in early May shows that sustainable price rallies in crypto can be built on strong market structure, not just bursts of speculative activity. For traders and investors, the lesson is clear: watch liquidity as much as you watch the price chart.

The post XRP Rises Above $2.5 as Expanding DEX Liquidity Supports Price Stability first appeared on Crypto Corus - Your Daily Dose of Crypto Clarity.

Tether’s Treasury Holdings Surpass Global Competitors

Tether’s rise as a major holder of US Treasuries has positioned it as the seventh-largest purchaser of American government securities worldwide. This remarkable milestone places the company ahead of several developed economies, including:

• Canada
• Norway
• Germany
• South Korea
• Mexico
• Taiwan
• Hong Kong
• Saudi Arabia

While the Cayman Islands leads the global list with over $100 billion in US Treasury acquisitions, Ardoino emphasized that such jurisdictions often aggregate holdings from hedge funds and investment vehicles. In contrast, Tether’s portfolio is managed by a single entity, offering a clearer picture of its capital concentration and financial strategy.

Treasuries as a Cornerstone of Tether’s Reserve Model

The decision to anchor USDT reserves in US Treasuries reflects a commitment to stability and liquidity. These assets are widely regarded as among the safest in the world, with minimal risk and immediate convertibility — essential characteristics for a stablecoin issuer.

In its December 2024 reserve attestation, Tether disclosed total US Treasury holdings worth $94 billion, up from previous quarters. This figure not only secures user confidence but also strengthens Tether’s macroeconomic position as a non-sovereign financial force with deep exposure to American debt markets.

Tether’s Role in Supporting US Dollar Dominance

Paolo Ardoino has repeatedly highlighted Tether’s impact on maintaining US dollar supremacy in the global trade ecosystem. By acquiring massive quantities of Treasuries, Tether channels liquidity into US financial markets and enhances demand for the dollar — indirectly reinforcing American economic power abroad.

A Strategic Reserve Philosophy

Unlike algorithmic stablecoins or those backed by more volatile assets, USDT is rooted in conservative reserve management. Tether’s focus on cash equivalents and highly rated securities, like short-term Treasuries, allows the firm to:

• Provide reliable redemption for users
• Navigate market volatility with reduced systemic risk
• Contribute to the appeal of the dollar as a reserve currency

Implications for the Global Financial System

Tether’s expansion in the US Treasury market not only reflects its internal growth but also signals a broader transformation in financial influence. Non-state actors like Tether are beginning to rival traditional nations in economic weight — particularly in digital finance and global capital flows.

Looking Ahead

As crypto adoption accelerates and stablecoins become increasingly embedded in cross-border payments, lending, and trading, the influence of entities like Tether will likely grow. Its Treasury-backed model may serve as a benchmark for other digital asset firms seeking credibility and regulatory clarity.

Whether seen as a stabilizing force or a disruptor of conventional finance, Tether’s role in the global economy is becoming more significant — and its $33.1 billion stake in US Treasuries is a clear signal that the lines between nation-states and digital issuers are continuing to blur.

Disclaimer: Our writers’ opinions are solely their own and do not reflect the opinion of CryptoSlate. None of the information you read on CryptoSlate should be taken as investment advice, nor does CryptoSlate endorse any project that may be mentioned or linked to in this article. Buying and trading cryptocurrencies should be considered a high-risk activity. Please do your own due diligence before taking any action related to content within this article. Finally, CryptoSlate takes no responsibility should you lose money trading cryptocurrencies.

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Market Sentiment Turns Cautious

The current Bitcoin cycle appears to be teetering between consolidation and a possible deeper correction. According to a recent report from Compass Mining’s Anthony Power, historical halving cycles still point toward a potential upside by late 2025 or early 2026. However, the immediate indicators remain mixed, leaving room for both caution and optimism.

Technical and On-Chain Indicators Send Mixed Messages

Several metrics reflect the market’s conflicted mood:

• MVRV Z-Score: Suggests Bitcoin may be in a deep value phase, signaling possible long-term upside.
• One-Year Unmoved Supply: Currently at 63%, it reveals strong investor conviction — or hesitation to sell.
• Fear & Greed Index: After reaching “Extreme Greed” near 90 in December 2024, it has now fallen to 15, deep into “Extreme Fear.”

These indicators collectively suggest a market waiting for direction, with neither bulls nor bears firmly in control.

Macroeconomic Forces Shape the Landscape

External factors have been playing an outsized role in Bitcoin’s recent moves. While the approval of Bitcoin ETFs in early 2024 sent prices soaring by 126%, that enthusiasm has waned, with early 2025 marking a record wave of ETF outflows — a signal that institutional enthusiasm has cooled, at least for now.

Policy and Politics Add New Variables

In contrast to sliding ETF inflows, political developments have added fresh complexity. President Trump’s recent executive order establishing a Strategic Bitcoin Reserve indicates federal interest in integrating Bitcoin into long-term economic policy. While the move sparked debate, it reinforces the growing role of crypto in national financial strategy.

Mining Economics Under Pressure

The halving of block rewards and growing network difficulty have made Bitcoin mining less profitable — even for the most efficient operators. The recent price dip has only worsened the situation. With rewards slashed and operating costs climbing, miners are facing tighter margins and looking for tools to stay afloat.

Miners Embrace Derivatives to Hedge Risk

To weather the storm, many miners are now leaning into financial products like Luxor’s Hashprice contracts. These derivative tools allow miners to lock in future revenue at predetermined rates, helping to manage volatility in hashprice — the value of hashrate in dollar terms.

By using derivatives, miners gain:

• Revenue predictability in uncertain market conditions
• Protection against falling Bitcoin prices and rising network difficulty
• Better capital planning for expansion or equipment upgrades

For an industry historically exposed to wild price swings, these financial instruments are quickly becoming essential to long-term survival.

Outlook: Long-Term Optimism Persists

Despite short-term headwinds, analysts remain optimistic. Anthony Power’s report and major institutions like Standard Chartered and Bitwise are still predicting bullish outcomes — with some expecting Bitcoin to hit $200,000 by the end of 2025, largely fueled by returning institutional capital and regulatory clarity.

While the current period may be testing miners’ resilience, the strategic pivot toward derivatives and risk management suggests the industry is adapting fast. As crypto markets mature, tools like these will likely play a larger role in helping miners — and the broader ecosystem — navigate the cycles ahead.

The post Bitcoin Miners Turn to Derivatives as Revenues Drop Amid Market Slump first appeared on Crypto Corus - Your Daily Dose of Crypto Clarity.

Meanwhile, Bitcoin — often touted as “digital gold” — is failing to keep pace. The top cryptocurrency has been trading sideways in recent weeks, as investors increasingly turn toward more traditional stores of value in response to market turbulence.

Gold’s Historic Surge Reflects Deepening Economic Anxiety

The recent rally in gold is being driven by a perfect storm of uncertainty. Among the key catalysts are the market jitters spurred by President Donald Trump’s economic and trade policies, which have rattled both domestic and international markets.

Confidence in Fiat Currencies on the Decline

Peter Spina, President of GoldSeek, interprets the $3,000 breakthrough as more than just a psychological milestone. According to Spina, the surge is a direct response to waning trust in fiat currencies — particularly the US dollar — which many believe are losing purchasing power due to inflation and political instability.

“This isn’t just about gold gaining value,” Spina noted. “It’s about fiat currencies — led by the dollar — losing their grip as reliable stores of wealth.”

Bitcoin Struggles to Gain Traction

While gold shines, Bitcoin has been stuck in a rut. The world’s largest digital asset has dropped approximately 15% over the past month, despite broader weakness in the US dollar and tech equities — assets that Bitcoin has closely tracked in recent years.

Trading in a Narrow Range

In the last few weeks, Bitcoin touched a yearly low of $78,942 before making a mild recovery to its current level around $83,364. The rebound offers little comfort to investors who have grown accustomed to high volatility and dramatic upward moves. The sideways action suggests market indecision — or perhaps, a pause as traders seek clarity on macroeconomic trends.

• 30-day price drop: ~15%
• Recent low: $78,942
• Current price: $83,364

Bitcoin’s muted performance comes as the broader risk-on environment falters. Tech stocks — which Bitcoin often mirrors — have also experienced sharp corrections, as investors retreat from speculative positions in search of safer ground.

Gold vs. Bitcoin: Safe-Haven Showdown

Gold and Bitcoin have long been compared as rival safe-haven assets. But in the current macro landscape, gold is clearly outperforming. Its reputation as a crisis hedge appears to be holding firm, especially among institutional investors and central banks looking to de-risk.

Bitcoin, by contrast, continues to grapple with questions about its role in turbulent times. Once considered a hedge against inflation, it now trades more like a high-risk tech stock — prone to swings driven by liquidity, interest rates, and investor sentiment.

A Flight to Stability

The rush into gold suggests that investors are seeking time-tested refuge. With mounting concerns over debt levels, inflationary pressures, and geopolitical flashpoints, the instinct to protect capital is growing stronger — and gold, for now, is the preferred shield.

Looking Ahead

As gold surges and Bitcoin stagnates, the market seems to be re-evaluating its risk appetite. The divergence between the two assets highlights a deeper investor recalibration. Whether Bitcoin can reclaim its narrative as “digital gold” remains to be seen — but in the near term, all eyes are on the yellow metal as it sets new records amid global financial uncertainty.

The post Gold Surpasses $3,000 as Global Uncertainty Grows — While Bitcoin Stalls first appeared on Crypto Corus - Your Daily Dose of Crypto Clarity.

Market Share Tumbles in Wake of Hack

New data from crypto market intelligence firm Kaiko highlights the sharp fallout. On the day of the breach, Bybit held a nearly 20% share of global exchange volume. That figure dropped precipitously to just 5% by March 2. Though there has been a modest recovery to 9.04% as of March 9, the damage to the platform’s dominance is clear.

Binance Benefits as Traders Flee

As trust in Bybit eroded, traders quickly migrated to perceived safer havens. Binance, already the industry’s leading exchange, was the immediate beneficiary, with its market share ballooning to 62% following the attack. However, its dominance has since tapered back to 50% — suggesting users are now diversifying rather than consolidating their trades on a single platform.

The Attack: How Hackers Breached Cold Storage

On February 21, unknown attackers infiltrated Bybit’s cold wallet system — the very component designed to offer heightened security by keeping digital assets offline. The breach resulted in the loss of $1.5 billion worth of Ethereum, making it the most significant exchange hack in crypto history.

North Korea’s Lazarus Group Suspected

Cybersecurity investigators and government authorities believe the infamous Lazarus Group — a North Korean state-sponsored hacking syndicate — is behind the attack. Known for orchestrating high-profile digital heists and complex laundering operations, Lazarus has long been a thorn in the side of global financial systems.

Asset Recovery Efforts Face Uphill Battle

Since the breach, global authorities and blockchain analysts have scrambled to track the stolen funds. The task has proven formidable, particularly due to the laundering tactics employed by the Lazarus Group.

Hundreds of Millions Already Washed

According to blockchain forensics firm Elliptic, roughly $300 million of the stolen Ethereum has already been laundered, making recovery increasingly unlikely. The use of privacy mixers, cross-chain swaps, and decentralized platforms has significantly blurred the asset trail.

• Date of breach: February 21, 2025
• Stolen amount: $1.5 billion (Ethereum)
• Attributed group: Lazarus (North Korea)
• Funds laundered: $300 million (estimated)

Long-Term Implications for Bybit

While the exchange has taken immediate steps to patch its security systems and reassure users, the long-term implications are still unfolding. Trust — especially in the crypto space — is fragile, and restoring it will require more than improved infrastructure. Transparency, external audits, and user protections will likely become central to Bybit’s recovery strategy.

In a market increasingly shaped by regulatory scrutiny and user protection concerns, the Bybit breach serves as a cautionary tale. Even top exchanges are vulnerable — and in a decentralized world, security remains as vital as ever.

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