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Crypto Price Today: Bitcoin crosses $108,000 as bulls regain control; Altcoins trade mixed
Crypto Price Today: Bitcoin crosses $108,000 as bulls regain control; Altcoins trade mixed

Time of India

time26-06-2025

  • Business
  • Time of India

Crypto Price Today: Bitcoin crosses $108,000 as bulls regain control; Altcoins trade mixed

Bitcoin extended its upward momentum on Thursday, briefly climbing past the $108,000 mark amid easing geopolitical tensions and signs of renewed institutional interest. As of 11:50 am IST, the world's largest cryptocurrency was trading at $107,800, up 1.5%, after hitting an intraday high of $108,305. Ethereum, the second-largest digital asset, also posted gains, rising 1.8% to $2,481. The overall crypto market capitalisation advanced by 1% to touch $3.3 trillion, according to CoinMarketCap data. Crypto Tracker TOP COIN SETS Crypto Blue Chip - 5 1.50% Buy NFT & Metaverse Tracker -0.80% Buy DeFi Tracker -1.97% Buy AI Tracker -2.17% Buy Web3 Tracker -3.93% Buy TOP COINS (₹) Ethereum 213,130 ( 1.61% ) Buy Bitcoin 9,249,460 ( 1.21% ) Buy BNB 55,474 ( 0.19% ) Buy XRP 188 ( 0.08% ) Buy Solana 12,429 ( -1.18% ) Buy Among major altcoins, XRP, BNB, Chainlink, and Litecoin registered marginal gains of up to 1%. However, Solana, Tron, Dogecoin, Cardano, Hyperliquid, Sui, Avalanche, and Toncoin slipped by as much as 2.5%, reflecting cautious sentiment among retail traders. Did you Know? The world of cryptocurrencies is very dynamic. Prices can go up or down in a matter of seconds. Thus, having reliable answers to such questions is crucial for investors. View Details » 'The crypto market is finding its footing with a cautiously optimistic undertone,' said Avinash Shekhar, Co-Founder & CEO, Pi42. 'Bitcoin has climbed over 3% in the past seven days, showing firm support from market participants. A retest of the $110,000 level seems likely if current levels hold.' Sathvik Vishwanath, Co-Founder & CEO of Unocoin, highlighted that Bitcoin appears primed for a breakout, with open interest elevated and funding rates near neutral. 'Liquidation clusters between $106K and $110K suggest potential for stop-hunts. A decisive move above $108.5K could trigger momentum toward $112K–$115K,' he noted. Vikram Subburaj, CEO of Giottus, added that the upcoming $20 billion options expiry on Friday could inject further volatility. 'Order book data shows rising interest near $111,000. However, $104,000 remains the key level to watch on the downside,' he said. Recent data points to growing institutional interest in crypto assets. BlackRock ETFs reportedly added 3,210 BTC and 22,550 ETH, while Japanese firm Metaplanet purchased 1,234 BTC worth $132.7 million, overtaking Tesla's Bitcoin holdings. Meanwhile, GameStop raised another $450 million via zero-interest notes and plans to allocate some funds to Bitcoin as a reserve asset. However, the regulatory environment remains complex. Barclays Bank has announced a ban on credit card crypto purchases effective 27 June, raising concerns about access restrictions for retail investors. The CoinDCX research team observed that Bitcoin's strength is bolstering broader market sentiment, with some altcoins like Pi, Kaspa, and Bitcoin Cash registering notable gains. 'The overall market trend remains largely stable, setting the stage for the next bullish wave,' the team said. On the flip side, recent high-fliers such as Sei, Fartcoin, Stacks, and Curve DAO Token saw sharp pullbacks of 8–10%, pointing to profit booking in select segments. Ethereum continued to trade steadily above $2,470, with analysts noting growing optimism over a potential breakout toward the $2,800 level. 'ETF flows for Ether have been strong, though futures data shows some caution among traders,' Shekhar of Pi42 added. With no major macroeconomic triggers expected until fresh inflation data, analysts believe the crypto market will likely trade in a tight range in the near term, driven by technicals and liquidity dynamics. "Stay alert for volatility expansion,' Vishwanath advised. 'The market is coiled for a breakout.' ( Disclaimer : Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)

Crypto Price Today: Bitcoin crosses $108,000 as bulls regain control; Altcoins trade mixed
Crypto Price Today: Bitcoin crosses $108,000 as bulls regain control; Altcoins trade mixed

Economic Times

time26-06-2025

  • Business
  • Economic Times

Crypto Price Today: Bitcoin crosses $108,000 as bulls regain control; Altcoins trade mixed

Bitcoin extended its upward momentum on Thursday, briefly climbing past the $108,000 mark amid easing geopolitical tensions and signs of renewed institutional interest. ADVERTISEMENT As of 11:50 am IST, the world's largest cryptocurrency was trading at $107,800, up 1.5%, after hitting an intraday high of $108,305. Ethereum, the second-largest digital asset, also posted gains, rising 1.8% to $2,481. The overall crypto market capitalisation advanced by 1% to touch $3.3 trillion, according to CoinMarketCap data. Among major altcoins, XRP, BNB, Chainlink, and Litecoin registered marginal gains of up to 1%. However, Solana, Tron, Dogecoin, Cardano, Hyperliquid, Sui, Avalanche, and Toncoin slipped by as much as 2.5%, reflecting cautious sentiment among retail traders.'The crypto market is finding its footing with a cautiously optimistic undertone,' said Avinash Shekhar, Co-Founder & CEO, Pi42. 'Bitcoin has climbed over 3% in the past seven days, showing firm support from market participants. A retest of the $110,000 level seems likely if current levels hold.'Sathvik Vishwanath, Co-Founder & CEO of Unocoin, highlighted that Bitcoin appears primed for a breakout, with open interest elevated and funding rates near neutral. 'Liquidation clusters between $106K and $110K suggest potential for stop-hunts. A decisive move above $108.5K could trigger momentum toward $112K–$115K,' he noted. ADVERTISEMENT Vikram Subburaj, CEO of Giottus, added that the upcoming $20 billion options expiry on Friday could inject further volatility. 'Order book data shows rising interest near $111,000. However, $104,000 remains the key level to watch on the downside,' he said. Recent data points to growing institutional interest in crypto assets. BlackRock ETFs reportedly added 3,210 BTC and 22,550 ETH, while Japanese firm Metaplanet purchased 1,234 BTC worth $132.7 million, overtaking Tesla's Bitcoin holdings. Meanwhile, GameStop raised another $450 million via zero-interest notes and plans to allocate some funds to Bitcoin as a reserve asset. ADVERTISEMENT However, the regulatory environment remains complex. Barclays Bank has announced a ban on credit card crypto purchases effective 27 June, raising concerns about access restrictions for retail CoinDCX research team observed that Bitcoin's strength is bolstering broader market sentiment, with some altcoins like Pi, Kaspa, and Bitcoin Cash registering notable gains. 'The overall market trend remains largely stable, setting the stage for the next bullish wave,' the team said. ADVERTISEMENT On the flip side, recent high-fliers such as Sei, Fartcoin, Stacks, and Curve DAO Token saw sharp pullbacks of 8–10%, pointing to profit booking in select continued to trade steadily above $2,470, with analysts noting growing optimism over a potential breakout toward the $2,800 level. 'ETF flows for Ether have been strong, though futures data shows some caution among traders,' Shekhar of Pi42 added. ADVERTISEMENT With no major macroeconomic triggers expected until fresh inflation data, analysts believe the crypto market will likely trade in a tight range in the near term, driven by technicals and liquidity dynamics."Stay alert for volatility expansion,' Vishwanath advised. 'The market is coiled for a breakout.' (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times) (You can now subscribe to our ETMarkets WhatsApp channel)

Jaishankar's laser eyes meme hides how India blinded itself on crypto
Jaishankar's laser eyes meme hides how India blinded itself on crypto

The Print

time24-06-2025

  • Business
  • The Print

Jaishankar's laser eyes meme hides how India blinded itself on crypto

The irony is stark: Jaishankar symbolises a state apparatus deeply suspicious of crypto. India's discomfort was clearly demonstrated in 2018 when Unocoin launched India's first Bitcoin ATM . Though technically not illegal, the machine was bold in timing and was swiftly shut down, and both co-founders were arrested on baseless charges. They were ultimately acquitted , but only after enduring two and a half years navigating India's notoriously slow courts. The arrests sent a chilling message: legality didn't matter, and innovation, particularly technology rooted in decentralisation and autonomy, was unwelcome. The laser eyes meme, initially a symbol for Bitcoin maximalism—'laser ray until 100K'—was popularised by crypto enthusiasts in early 2021. Over time, it evolved into a broader emblem of intensity and dominance, appearing in unexpected contexts, including Indian nationalist memes featuring Foreign Minister S Jaishankar. When asked about his laser-eyed depictions, Jaishankar simply remarked that it was ' a bit weird '. There are few things that irk Indians more than being upstaged by Pakistan, or even hearing such a claim, however dubious. An occasional Pakistani win in cricket triggers a wave of national grief. Rarely, Indians might comfortably acknowledge instances of Pakistani superiority, such as their Coke Studio. But these moments remain anomalies. In recent times, even memes have become arenas where these tensions play out symbolically. Bitcoin itself arose in direct response to centralised economic control. Sometime after the 2008 financial crisis, pseudonymous Satoshi Nakamoto proposed a decentralised financial alternative, a libertarian defiance against traditional banking. Bitcoin maximalists still reject the term 'crypto,' viewing Bitcoin as the only truly valuable digital asset. Yet, many crypto initiatives claim descent from Bitcoin's original ethos of decentralisation, autonomy, and freedom from oversight, albeit to varying degrees. Also read: India doesn't understand crypto enough to pass regulatory law. Here's all you need to know A brief history of crypto in India India's regulatory history with crypto underscores its centralised impulses. In April 2018, the Reserve Bank of India (RBI) issued a circular directing banks to stop servicing crypto exchanges, effectively blocking banking access for crypto businesses and forcing many to shut down. In March 2020, the Supreme Court of India overturned this circular, ruling the RBI action 'disproportionate' and restored banking ties to crypto platforms. However, the relief was short-lived. In the 2022 Union Budget, the government labelled cryptocurrencies as 'virtual digital assets' and introduced a flat 30 per cent tax on crypto profits, with no deductions or loss offsets allowed. A 1 per cent TDS on transfers (above threshold limits) took effect from July 1, 2022. As of the 2025 Budget, crypto tax rules remain unchanged, and mandatory reporting requirements for digital-asset transactions under Schedule VDA will be implemented in FY 2025–26. The net effect was devastating: crypto exchanges dried up, entrepreneurs relocated abroad, and Indian exchanges saw up to 97% of its crypto volume flee. The 2022 tax regime's treatment of crypto like gambling winnings with a 30% flat tax and no loss offsets, combined with ongoing regulatory uncertainty, created a hostile environment that drove away innovation. Many Indians missed out on significant wealth creation opportunities during recent crypto rallies, leaving them relatively poorer than global peers who benefited from more favourable policies. The government's paranoia about losing control trumped basic fiscal sense: India chose to lose Rs 6,000 crore in tax revenue rather than create a business-friendly crypto framework, with projections showing an additional Rs 17,700 crore loss over five years. Further reinforcing centralisation, India introduced the e-rupee, its Central Bank Digital Currency (CBDC). Designed with tight controls, including caps on wallet sizes and restrictions on usage and the capability to place limits on where money can be spent, CBDCs could enable mass surveillance. It represents centralised control masquerading as digital innovation. In stark contrast stands the United States under Donald Trump. In January 2025, Trump explicitly banned U.S. agencies from launching a CBDC, calling it a threat to 'individual privacy.' He instead created a strategic Bitcoin reserve, a 'Digital Fort Knox,' embracing Bitcoin as a sovereign asset. Also read: Why is Pakistan going all out on crypto? There's a Donald Trump angle Pakistan's strategic positioning vs India's missed opportunity Pakistan's crypto announcements at Bitcoin 2025 conference reveal a calculated geopolitical gambit rather than genuine policy innovation. The Las Vegas spectacle, complete with promises of Bitcoin reserves and 2,000 MW for mining, represents textbook diplomatic positioning aimed at currying favor with the Trump administration's crypto-friendly stance. This strategy became particularly evident through the Pakistan Crypto Council's Letter of Intent with World Liberty Financial (WLFI), a US-based firm reportedly 60% owned by Donald Trump's sons, Eric and Donald Jr., and son-in-law Jared Kushner. Donald Trump himself is listed as 'Chief Crypto Advocate' on WLFI's homepage, prominently featuring his portrait. Pakistan's Special Assistant to the Prime Minister on Crypto and Blockchain, Bilal Bin Saqib, made these headline-grabbing announcements, crafting a narrative perfectly aligned with Trump's 'Digital Fort Knox' vision. Adding further credibility to their crypto strategy, Pakistan appointed Changpeng 'CZ' Zhao, co-founder of Binance (the world's largest crypto exchange), as a strategic advisor to the Pakistan Crypto Council. This move signalled Pakistan's ability to attract top-tier crypto talent and expertise while demonstrating serious intent to international markets. Even the high priest of bitcoin, Michael Saylor, explicitly endorsed Pakistan's strategic move and offered to help Pakistan build a bitcoin reserve. The performative nature of these announcements was further underscored by domestic contradictions: shortly after the Bitcoin 2025 conference, Pakistani officials clarified that cryptocurrency remains illegal under current regulations in Pakistan. Meanwhile, India remained passive, treating crypto policy as a purely domestic regulatory matter rather than recognising its geopolitical dimensions. Policy warfare: Pakistan's strategic use of India's failures Perhaps the most damaging aspect of Pakistan's crypto diplomacy isn't what they promised to build, but how they systematically weaponised India's policy failures on the global stage. In a March 2025 Bloomberg interview, Pakistan Crypto Council CEO Bilal Bin Saqib explicitly used India as a cautionary tale: ' we've seen this mistake before. India putting a 30% tax on the crypto trades drastically reduced the exchange volume. Our approach will be different.' Pakistan positioned itself as having learned from India's regulatory missteps, promising a more business-friendly framework when they implement their own crypto policies. This was Pakistan's crypto minister, on one of the world's most influential financial platforms, telling international investors that Pakistan would avoid India's 'mistakes.' However, the ambitious international announcements faced a bitter reality check at home. Just days after Bilal Bin Saqib's high-profile Bitcoin 2025 presentation, Pakistani officials told their National Assembly that 'the use of crypto currencies was illegal and anyone dealing in these currencies was liable to be investigated.' The Finance Secretary confirmed that 'the work on the crypto currencies is at a very, very preliminary stage' with no legal framework in place, while the Pakistan Crypto Council itself was operating only 'under executive orders of the prime minister' without legal backing. Pakistan's own central bank maintained that crypto trading and holding remained illegal under 2018 instructions. Meanwhile, India's response to changing global dynamics remained stubbornly inward-looking. When recently asked whether India might reconsider its restrictive crypto stance given America's shift towards a more crypto-friendly policy, Finance Minister Nirmala Sitharaman encapsulated India's strategic blindness by responding, 'We are India. I will think about India.' The information warfare proved effective despite implementation uncertainties. Pakistan successfully pitched itself as the regional alternative to India's restrictive approach, even while their own regulatory framework remained non-existent. International crypto firms began viewing Pakistan as potentially more crypto-friendly than India, despite Pakistan's current legal prohibition and India's established (though heavily taxed) framework. Even Indian government advisors recognized the competitive threat, warning that 'Indians' financial data falling into the hands of Pakistani entities' was a national security concern. Diplomatic theatre that worked Pakistan's crypto diplomacy achieved concrete results that went far beyond ceremonial announcements. The World Liberty Financial delegation, led by Zachary Witkoff (son of Trump's special envoy Steve Witkoff), met with Pakistan's highest levels of leadership: Prime Minister Shehbaz Sharif, Army Chief General Asim Munir, and Deputy Prime Minister Ishaq Dar. This wasn't just business networking—it was full-fledged diplomatic engagement facilitated at the military level. The diplomatic windfall extended to Washington, where Bilal Bin Saqib met with over a dozen key U.S. government officials and lawmakers, including Senators Cynthia Lummis, Bill Hagerty, and Rick Scott. Pakistan's broader messaging was deliberate and aspirational. As Saqib had emphasized in meetings back home, '[PCC] exists because our youth demand a seat at the global tech table,' stressing that digital finance and decentralisation offer opportunities, not threats. Pakistan was engaging with senators who had authored key crypto legislation, while India remained absent from these conversations entirely. The contrast reveals a fundamental strategic blindness: Pakistan postured with promises it cannot deliver yet gained influence in Washington, while India, with actual power surplus, superior infrastructure, and genuine capabilities, imposed crippling taxes and restrictions on its own sector. Substance was penalised, while theatre was rewarded. The broader stakes Pakistan's approach offers India a strategic lesson, not a policy template. Recognising crypto's geopolitical dimensions and leveraging India's genuine capabilities is essential. India possesses the fundamentals Pakistan lacks: power surplus status with negligible deficit (0.1% in FY 2024-25), peak demand management exceeding 240 GW, sophisticated financial infrastructure, massive tech talent pools, and a stable economy. Where Pakistan promises 2,000 MW for mining while dealing with chronic energy shortages, India could actually deliver at scale. Rather than reactive regulation focused on control, India should pursue proactive engagement that positions the country as an indispensable partner in the global digital asset ecosystem. Countries like the UAE and Switzerland demonstrate success by embracing openness rather than suffocating innovation. India's pathway to progress is not through surveillance and tight controls but by stepping aside and allowing innovation to flourish. The stakes extend far beyond technological leadership. Recent weaponisation of SWIFT sanctions and economic conflicts suggest that the continued dominance of the U.S. dollar as the global reserve currency is not guaranteed. By proactively embracing crypto, India could strategically position itself within an emerging multipolar financial order, safeguarding its financial sovereignty and economic competitiveness. Even the United States, by establishing a strategic Bitcoin reserve, appears to be hedging against this potential shift, ensuring it remains economically dominant and influential regardless of how global finance evolves. India's current crypto restrictions risk sidelining the country from this strategic positioning precisely when financial sovereignty matters most. While other nations are building crypto capabilities as potential alternatives to existing systems, India's restrictive approach could leave it dependent on whatever financial architecture others construct. The ultimate irony Ultimately, the meme with Jaishankar's laser eyes reveals a deeper story, not about the man himself, but about India's uneasy relationship with innovation, autonomy, and the decentralised future. Pakistan's crypto announcements gained international attention through a well-coordinated influence campaign that included partnership opportunities with Trump family businesses, high-level diplomatic engagement, and systematic positioning as an emerging crypto power. Yet the particular irony stung: here was Pakistan's crypto minister on Bloomberg, publicly criticising India's crypto policies as 'mistakes' to avoid, while India's own foreign minister was being memed with laser eyes – the very symbol of bitcoin enthusiasm. The broader lesson extends beyond crypto: India must recognise that in a multipolar world, domestic policy decisions have international consequences that can be weaponised by strategic rivals. The laser eyes were supposed to represent strength and intensity. Instead, they became a symbol of blinded vision: projecting power while systematically undermining the very capabilities that could have made that projection real. Ajay Mallareddy is co-founder of Hyderabad-based Centre for Liberty. His X handle is @IndLibertarians. Views are personal. (Edited by Prashant)

Got crypto gains or gifts? Here's why the taxman could soon come calling
Got crypto gains or gifts? Here's why the taxman could soon come calling

Business Standard

time23-06-2025

  • Business
  • Business Standard

Got crypto gains or gifts? Here's why the taxman could soon come calling

If you've made money on Bitcoin, Ethereum, or any other cryptocurrency and skipped mentioning it in your income tax return (ITR), you might be in trouble, with the Income Tax Department now using AI and advanced tech to detect such undeclared gains. 'As per Section 115BBH introduced in FY22–23, any income from the transfer of virtual digital assets (VDAs) like Bitcoin, Ethereum, or NFTs is taxed at a flat 30 per cent, with no deductions allowed except the cost of acquisition,' explains Sathvik Vishwanath, co-founder and chief executive officer, Unocoin. This includes crypto-to-INR sales, crypto-to-crypto swaps, using crypto for purchases, and even gifting. Every crypto move is taxable 'Whether you're selling, swapping coins, receiving gifts, or using crypto for shopping, every such event is a taxable transfer,' notes Purvang Mashru, senior quantitative research analyst at 1 Finance. This flat 30 per cent tax is applicable across the board: · Crypto sold for INR · Crypto exchanged for another coin · Crypto gifted or received · Crypto spent on goods/services A 1 per cent TDS under Section 194S also applies on transactions exceeding ~10,000 a year, deducted by the exchange or payer, and reported to the government. Additionally, any airdrop, staking rewards, or crypto salaries are taxed at your slab rate, adds Sonu Jain, chief risk and compliance officer, 9Point Capital. Skipping crypto in ITR? 'Risky move', say experts 'The tax department has extensive mechanisms to track undeclared crypto activity,' warns Chartered Accountant Suresh Surana. Exchanges are mandated to deduct and report TDS, and from FY26–27, must file user-level reports under Section 285BAA. 'Failing to disclose crypto gains can lead to penalties under Section 270A or prosecution under Section 276C, with jail terms up to 7 years for willful evasion,' Surana adds. Purvang Mashru warns that unexplained crypto income could even be taxed at 60 per cent under anti-evasion rules. Swapping coins? Still taxed A common myth is that crypto-to-crypto trades are tax-free. That's incorrect. 'Whether you convert Bitcoin to Ethereum or buy an NFT using crypto, it is a taxable event,' clarifies Jain. The gain is calculated as the difference between your purchase price and the value of the crypto you received. No relief, no set-offs Indian tax rules offer no mercy when it comes to crypto. 'There are no exemptions, no expense deductions, no set-off against other income, and no carry-forward of losses,' says Siva Venkataraman, vice-president, Finance at CoinSwitch. 'Even transaction fees or electricity costs for mining are not allowed.' Surana adds, 'Rebates like Section 87A may help those with total income under Rs 5 lakh, but crypto gains remain taxed at 30 per cent, with surcharge and cess.' What should you do? Experts agree that one should declare their crypto gains transparently and file taxes accurately. 'Maintaining records, tracking acquisition cost, and using compliant platforms can help manage your tax liability,' advises Venkataraman. With rising regulatory scrutiny, experts stress that tax planning is as crucial as investment strategy in the crypto world.

Bitcoin holds above $105K amid Middle East tensions, Fed cues awaited
Bitcoin holds above $105K amid Middle East tensions, Fed cues awaited

Time of India

time18-06-2025

  • Business
  • Time of India

Bitcoin holds above $105K amid Middle East tensions, Fed cues awaited

Bitcoin held firm above the $105,000 mark on Wednesday despite fresh geopolitical tensions and macroeconomic uncertainty that weighed on broader crypto sentiment. At 12:11 pm IST, Bitcoin was down 1.63% at $105,215, while Ethereum slipped 2% to $2,529. The global crypto market capitalisation fell by 1.7% to $3.27 trillion, according to CoinMarketCap. 'Bitcoin is trading near $105,000 as the crypto market reacts to the fresh escalations in the Middle East,' said Edul Patel, Co-founder and CEO of Mudrex. 'Retail investors remain cautious, but institutions are still buying—Bitcoin ETFs saw over $412 million in net inflows, indicating long-term conviction.' Sathvik Vishwanath, Co-Founder and CEO of Unocoin, added, 'Despite short-term pullbacks, the structure remains bullish with upside potential of $115K–$125K. On-chain signals and ETF inflows support the rally, but macro shifts could bring volatility.' The pressure was visible across major altcoins. XRP fell 3.5%, Solana 3.8%, Dogecoin 2%, Cardano 2.7%, Hyperliquid 5%, Sui 4.5%, Stellar 3%, and Chainlink 3.3%. Shivam Thakral, CEO of BuyUcoin, said, 'Bitcoin slipped to $105K after touching $107,645. The dip is driven by Middle East tensions , which are rattling global markets. Traders are avoiding fresh positions. Any clarity on Trump tariffs or Fed rate cuts may calm the nerves.' 'Bitcoin and Ethereum mirrored each other in recent declines, followed by partial recoveries,' noted Riya Sehgal, Research Analyst at Delta Exchange. She said Bitcoin's ability to hold higher lows above $105K signals strength, with key resistance at $106.5K. Ethereum, meanwhile, is stuck in a $2,450–$2,575 consolidation band. Sehgal also pointed to net inflows on June 17—$216.5 million for Bitcoin ETFs and $11.1 million for Ethereum—as a sign of sustained institutional interest. 'Global regulatory developments such as the Genius Act and Thailand's five-year crypto tax exemption are shaping a more mature market environment.' Meanwhile, Vikram Subburaj, CEO of Giottus, warned of growing profit-booking activity. 'Spot Bitcoin ETFs saw over $400 million in outflows—the first net redemptions in over a week. Mid-cycle holders booked $904 million in profits on Monday, accounting for 83% of total realized gains,' he said. Despite the selloff, he noted the Coinbase Premium Index remains positive, indicating robust US spot demand. According to Polymarket data, there's a 42% probability Bitcoin may revisit the $100,000 mark before June 30.

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