Bitcoin maintains a steady position above the $85,000 mark, indicating a subtle upward inclination post a period of price stagnation. The asset has seen an increase of 2.2% on the daily chart today, sparking optimism in some traders about a potential stronger rally. However, a more comprehensive timeframe suggests a contrasting scenario.

Over the past month, Bitcoin has suffered a dip of over 8%, and the decrease from its January 2025 peak of over $109,000 stands at a substantial 20%.

Corporate Bitcoin Accumulation Rises as Long-Term Holders Sell

Contrary to the market downturn, CryptoQuant, a blockchain data provider, has released information about corporate Bitcoin accumulation during Q1 of 2025. The data reveals an assertive accumulation trend among public companies, with these firms adding a total of 91,781 BTC to their balance sheets from January to March. This suggests an enduring belief in the long-term value of Bitcoin.

Among the most prominent buyers were Tether, who added 8,888 BTC, bringing its total to 92,646 BTC, and MicroStrategy, who purchased 81,785 BTC valued at over $8 billion. Other significant participants included Semler Scientific (+1,108 BTC), Metaplanet (+2,285 BTC), and The Blockchain Company (+605 BTC).

Further, it was reported that Marathon Digital is planning a $2 billion stock sale to fund future Bitcoin purchases. Similarly, GameStop is considering a $1.3 billion convertible note offering to facilitate its entry into Bitcoin investment.

Nonetheless, these substantial acquisitions were not sufficient to sustain Bitcoin’s price. CryptoQuant noted that long-term holders sold around 178,000 BTC during the same period, contributing to significant sell pressure. This situation was aggravated by outflows of approximately $4.8 billion from spot Bitcoin ETFs, which further pressured the price.

Bitcoin’s Significant Support Levels Identified

A CryptoQuant analyst, BorisVest, has identified a vital support zone for Bitcoin between $65,000 and $71,000. Derived from two specific metrics – the Active Realized Price and the True Market Mean Price – this range could indicate potential strong demand from long-term holders and institutional buyers if Bitcoin’s price falls within this zone. This could serve as a foundation for further accumulation and possibly trigger a new upward phase.

Despite some market participants exiting their positions, others are leveraging this consolidation period to accumulate.

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According to market research analyst Sara Gherghelas at DappRadar, NFT trading volume in December 2024 reached a high of $1.36 billion. However, it experienced a 26% plunge in January and a further 50% in February this year.

Gherghelas noted, “While there has been an anticipated resurgence in NFTs, the pace has notably slackened since the year began.” She attributed the devaluation of NFTs to their strong correlation with cryptocurrency prices.

The overall crypto market achieved its highest-ever capitalization of $3.71 trillion on December 9, 2024. CoinMarketCap reported significant price gains for several cryptocurrencies during this period. Bitcoin, for instance, briefly peaked above $109,000 on January 20, surpassing its previous high of over $108,000 recorded on December 17, just before the inauguration of US President Donald Trump.

Unfortunately, the crypto market saw most of its gains wiped out in February, amid growing macroeconomic concerns about Trump’s trade tariffs. Decentralized app activity also dipped in the same month, with an estimated 8% decrease in daily unique active wallets, bringing the count down to 24 million.

Interestingly, DappRadar observed a divergence in the NFT sector, which witnessed a 6% uptick in activity or 3.5 million users engaging with NFT platforms in February. This surge is attributed to a growing interest in AI-powered assets.

Gherghelas pointed out, “The rising incorporation of artificial intelligence in NFT projects indicates a transformation towards dynamic, interactive digital assets with enhanced utility.” She further emphasized that while speculative trading might fluctuate, NFTs with robust utility and real-world applications will catalyze long-term adoption in the Web3 ecosystem.

Profile picture NFTs emerged as the most traded, with $243 million in volume across 76,385 transactions. Gaming NFTs came in second, recording $41 million with 421,853 assets traded. Sports NFTs led in terms of transactions, with 659,097 deals amounting to $7.7 million in volume.

DappRadar’s January report revealed a grim picture for 2024, marking it as the worst year for NFTs since 2020 due to volatility and soaring token prices. The year saw $13.7 billion in trading volume with less than 50 million sales. In contrast, NFTs had their most successful year in 2022, registering $57.2 billion in trading volume and 121.7 million sales.

The post Dramatic 63% Drop in NFT Trading Volume Since December Unveiled appeared first on Crypto Market Insights: Dive In with CryptoUpdate.io.

The top ten non-exchange against the exchange addresses usually maintain the high level of ratio of $ETH which is owned for more than top 10 whales of non-exchange. With the huge 3.4x additional coins held, usually it appears to be the true belief where the prices may get stabilize.

On the other hand, even the traders anticipate the fact that price of Ethereum may very soon stabilize. It is as non-exchange addresses against the exchange addresses that usually own about 3.4 times additional ETH.

Key sentiments of the Ethereum traders

The fact is that ETH has tested with support at almost $1,725 on 07^th June subsequent to reaching the highs of $1918. Also, price is recently constricted between down sloping and daily MA 50 and $1,700.

Such kind of situation may also lead to the range of expansion, that may also pave the way exclusively for next direction move. When the buyers push price which is more than $1,918 high, Ethereum might also face crucial barrier at $2,261. It is where the bears might also mount the much strong defense. When there is a fall in price, the pair might also stay inside the recent range for some while.

A break that is more than $2,261 can also signal the beginning of the bottoming process, though a break less than $1,700 can mark the beginning of fresh downturn.

Ropsten Ethereum with successfully merge

Here, ETH has passed a main test ahead of highly anticipated transition for proof-of-stake. As per the developers, Ropsten testnet is merged successfully.

This kind of merge is approaching. The community has completed such kind of the merge to Ropsten testnet. With approaching of mainnet, there is also a currently staked that represent 10.78% of circulate supply with the recent value.

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