Market capitalisation has changed little over the last day, hovering around the $3.42 trillion mark. Cryptocurrencies prefer not to notice positive stock market movements as they are related to tariffs and company reports, not money supply. In addition, the dollar’s exchange rate is rising for the third day.

The day before, Bitcoin retreated from the trading range’s upper boundary at 110k to its lower boundary at 107k. This rest at previous highs effectively removes the local overheating of the market. As the institutional presence in Bitcoin expands, its dynamics are becoming more similar to the behaviour of stock and commodity market instruments, with less pronounced FOMO periods.

Ethereum was briefly above $2780 on Thursday morning, hitting new highs from February and the 200-day moving average. A consolidation above $2700 has the potential to attract the attention of broader traders, kick-starting momentum to $3300 or even $4000.

Bitcoin options maturing in June-July have been dominated by activity in calls with strikes of $115,000 and $120,000, Kaiko notes. The highest turnover was in contracts with expiry at $110,000, suggesting consolidation at established levels in the coming weeks.

Trump Media, a company linked to US President Donald Trump’s family, will raise $2.5bn through the sale of stocks and bonds to build a bitcoin reserve. The company has signed private placement agreements with about 50 institutional investors to raise the funds.

Circle, which issues the USDC stablecoin, has updated documents for an IPO on the NYSE. The goal is to raise about $600m with the firm’s valuation of $5.4bn.

Cardano founder Charles Hoskinson announced a willingness to integrate Ripple’s stablecoin RLUSD into its blockchain without charging fees, as a gesture of support for the XRP community.

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