5 min readBitcoin has eased back from the 111.9K record high reached last week and is consolidating between 107 K and 110K as investors watch developments at the Bitcoin Conference 2025. Bitcoin has risen 15% so far this month.
The Bitcoin Conference, which started yesterday and runs until tomorrow, features several key speakers including US Vice President JD Vance, Michael Saylor, Donald Trump Junior, and Eric Trump.
So far, headlines have highlighted the Trump administration’s commitment to Bitcoin. Still, headline risk could spark volatility in the near term, fueling caution even as the broader stock market rallied.
Despite near-term caution, BTC ETFs continue to record impressive demand, booking net inflows for a 9th straight session. Meanwhile, corporate demand is also heating up. According to Bitcoin Treasuries.net, the number of listed companies holding Bitcoin jumped 25% from 89 at the start of April to 113.
Highlighting the point, (Micro) Strategy buys 4020 Bitcoin for $427 million, taking its total holdings to over 580,000, which equates to around 3% of the total market circulation. Should corporate demand continue to ramp up, this will increase demand, lifting the BTC price.
Is ETH set to break out towards $3000?
Bitwise data shows that the Ethereum network base layer is quietly transforming into a heavyweight settlement system for institutional money while retail money goes elsewhere. $127 billion in stablecoins are circulating on the Ethereum blockchain, pointing to institutions using the network for institutional treasury flows and on-chain dollars. Meanwhile, the DiFi frenzy and NFT mania, which once characterised Ethereum, have migrated to layer two solutions.
Upgrades like Petra and PeerDAS/Fusaka, which is coming, mean Ethereum is no longer scaling for smaller protocols; instead, the network is now aiming for billions of layer two transactions, tokenized treasuries and institutional settlement flows.
Sharplink launches its ETH Treasury Strategy.
Meanwhile, Sharplink has announced a $425 million private placement as it launches its Ethereum treasury strategy. Um announced through the issuance and sale of 69.1 million shares to investors and will begin its ETH purchases after the offering closes tomorrow. Should the ETH treasury strategy gain in popularity like the BTC treasury strategy, corporate demand could help support the price higher.
ETH tests a key resistance level
ETH rose 6% on Tuesday, rising from support around the 2500 level and hitting resistance at 2700. However, the price has so far been unable to cross this level, which it first hit 3 weeks ago.
The second-largest cryptocurrency by market cap has rallied 50% over the past month and has surged almost 100% from its April lows. Yet while Bitcoin has risen to fresh record highs, Ethereum has struggled to break above its 200 SMA. The tightening range is often a precursor to a breakout to the upside or down. A break above $2700 and the 200 SMA could fuel a breakout to the 3000 level, which is both a psychological and technical barrier.
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