Crypto hub: Bitcoin retreats below $95K

Bitcoin dipped below the critical $95,000 mark, shedding over 4% in the past 24 hours, despite news of MicroStrategy’s continued investment. The company, led by Michael Saylor, announced a purchase of $5.5 billion worth of Bitcoin, bringing its total holdings to 386,500 BTC, valued at nearly $22 billion.

Market analysts point to liquidity clustering around the $100,000 level, particularly at $99,700, where a potential short squeeze could drive prices higher if Bitcoin breaches this threshold. However, resistance at $100,000 suggests Bitcoin may remain in a consolidation phase in the near term before a potential breakout.

MicroStrategy expands Bitcoin holdings with $5.4 Billion purchase

MicroStrategy, spearheaded by Michael Saylor, has significantly boosted its Bitcoin reserves, acquiring 55,500 BTC at an average price of $97,862 per coin. This latest purchase, valued at $5.4 billion, brings the company’s total Bitcoin stash to 386,700 BTC. The company’s average acquisition price now stands at $56,761 per Bitcoin, with a total investment of approximately $21.9 billion.

Year-to-date, MicroStrategy’s Bitcoin holdings have yielded a return of 59.3%, underscoring the firm’s strategic bet on cryptocurrency as a long-term store of value.

Ripple partners with Archax, ABRDN for tokenized fund on XRP ledger

Ripple is advancing its push into tokenized assets through a partnership with UK-based digital marketplace Archax and financial services giant ABRDN PLC. The collaboration has led to the creation of the first tokenized money market fund on the XRP Ledger.

The news coincides with a dramatic price rally for Ripple’s native token, XRP, which surged by nearly 200% in recent weeks. Following the announcement, XRP climbed 33% in just seven days, reaching $1.49. The initiative highlights Ripple’s growing influence and the increasing adoption of tokenized financial products within the cryptocurrency ecosystem.

Elon Musk’s Dogecoin posts spark questions over price manipulation

Dogecoin’s price movements continue to mirror Elon Musk’s social media activity, fueling speculation over potential market manipulation. The meme coin saw a brief uptick after Musk posted a meme referencing the “Department of Government Efficiency” (D.O.G.E.), only for its price gains to quickly fade.

Musk has faced accusations of manipulating Dogecoin prices in the past, with a recent class-action lawsuit alleging fraud and insider trading dropped just last week. Critics argue Musk’s frequent references to DOGE—both as a political project and a cryptocurrency—create ambiguity around his intentions.

Some analysts suggest Musk’s playful use of DOGE-related memes offers him plausible deniability while maintaining his role as a prominent meme advocate. Despite this, Dogecoin’s price movements often align with Musk’s posts, sparking ongoing debate over his influence on the asset’s value.

Dogecoin whales accumulate amid weekend dip

Large Dogecoin investors, commonly referred to as “whales,” appear to be capitalizing on recent price dips. According to data from Santiment, addresses holding between 1 million and 10 million DOGE accumulated 200 million coins over the weekend.

At Dogecoin’s current price of $0.42, this equates to $84 million in purchases. The accumulation suggests reduced selling pressure, potentially setting the stage for further price stability or gains. Such whale activity is often interpreted as a signal of confidence in the asset’s long-term prospects.