Whales hold as BTC edges yet again to an all-time high

Industry landscape

• German cosmetics company Evertz Pharma invested 10 million euros in May to increase its Bitcoin holdings by 100 BTC.
• Web3 fashion tech company LEGENDARY HUMANITY has announced the launch of its Bitcoin strategic reserve plan.
• The Financial Services Development Council (FSDC) in Hong Kong has signed a Memorandum of Understanding (MoU) with TheCityUK (the UK Financial District Association) to enhance collaboration in the financial sector, particularly focusing on areas like virtual assets. 
• Stablecoin project Plasma has announced plans to sell $50 million worth of XPL tokens at a fully diluted valuation of $500 million.
• According to Cointelegraph, US Senators Elizabeth Warren and Richard Blumenthal jointly wrote to Meta CEO Mark Zuckerberg, requesting an explanation of the company's potential stablecoin plan amid the debate over the GENIUS Act.
• Alternative investment and private credit institution F Street has begun making daily purchases of bitcoin using business proceeds and treasury holdings, with a near-term objective of accumulating $10 million in BTC.
• US Senate has voted to invoke cloture on the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act, a procedural move that paves the way for further debate on the bill.
• Digital payments platform PayPal has deployed PYUSD on the Stellar blockchain, advancing cross-border payments and financing applications.
• Justin Sun has tweeted that the first USD1 has been minted on the TRON blockchain.

Exchange updates

• Coinbase has listed Fartcoin (FARTCOIN), Subsquid (SQD), and PancakeSwap (CAKE).
• Binance has launched the Alpha Wealth Management Center, supporting liquidity earnings and Alpha points collection, the HODLer airdrop with Resolv (RESOLV), Futures contracts for TAIKO/USDT and SQD/USDT with up to 50x leverage, and MEET48 (IDOL) on Binance Alpha.

Mainstream data observations

1. BTC core liquidation positions: Long positions at $107,900 with a liquidation amount of $516 million. Short positions at $110,692 with a liquidation amount of $1.372 billion. The current BTC price: $107,900. Significant liquidation pressure on short positions, concentrated near $110,800, where there is strong liquidation intensity.
2. ETH core liquidation positions: Long positions at $2,742.7 with a liquidation amount of $250 million. Short positions at $2,799.7 with a liquidation amount of $274 million. The current Ethereum price: $2,774. Significant liquidation pressure on long positions, with substantial liquidation amounts near $2,740, which can be seen as a key support price level to watch.
3. Total stablecoin market cap: $251.263B. The total market cap saw a slight increase on June 12. All top 8 stablecoins by market cap saw an increase in supply, with USDT issuing 360.96M, and 17.35M of USDT issued on Unichain. USDC issued 199.32 M.
4. BTC market share: 64.06%. TOTAL 3 market cap: $868.71B. BTC market share continues to fluctuate above 64%. News continues to report that institutions/companies are preparing to or have already bought Bitcoin, further increasing Bitcoin's penetration among institutions/companies.
5. Bitcoin MVRV-Z score: 2.56 MVRV is the ratio of the minimum market value (current market cap) to the realized value (the total value of all BTC at their last movement). BTC’s market valuation remains in the "optimistically rational" range. It is possible to participate in a rebound under favorable trends, but a clear stop-loss line must be set.
6. Bitcoin BVIV score: 44.04 BVIV score is currently in the "moderate volatility range." Watch for the synchronization of price behavior and volatility expansion. If BVIV continues to rise above 47, it may signal a large price movement.

[Market rating]

On the morning of June 12, Bitcoin approached its historical high, but no significant profit-taking by large whales was observed, with some whales still waiting for the market to significantly overheat. The market expects CPI data to rise, which may affect US Fed's interest rate decisions. Also, pay attention to changes in the BTC and ETH exchange rates. The current market bull/bear sentiment score is 85 (Bullish).

[0-40 Bearish; 40-50 Cautiously Bearish; 50-70 Neutral; 70-80 Cautiously Bullish; 80-100 Bullish]

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