Bitcoin News

Bitcoin’s price has barely moved in the last week, but other signs point to growing activity on the network. On June 5, Bitcoin traded around $104,300, down 0.50% in 24 hours and off 2.5% over the past seven days. Yet data shows more people are joining the network, and more coins are being passed around. Related Reading: Bitcoin Reserve Gets Military Nod, Senator Predicts Explosive 10-Year Surge Wallet Creation Jump According to Santiment, on May 29 nearly 557,000 new wallets appeared. That was the highest number since December 2023. It means thousands of people are opening wallets even though price has stayed just under $105,000. People normally open new wallets to send and receive bitcoins but they somehow come across the idea through new sources, increased talks among friends or create simple curiosity. In any case, an increased wallet holding indeed indicates a much wider usage. 📊 Bitcoin’s on-chain activity has seen sharp rises this week as its price hovers just below $105K: 📈 May 29th: 556,830 new $BTC wallets created (Highest since December 2, 2023) 🔄 June 2nd: 241,360 coins circulated (Highest since December 8, 2024) Growth in a network’s… pic.twitter.com/2DxknVXrKT — Santiment (@santimentfeed) June 5, 2025 Increased Token Movement On June 2, over 241,360 BTC changed hands. This was deemed the busiest day since December 2024. Reports from Santiment suggest that high coin turnover usually coincides with increased traffic. Traders might be moving coins in and out of exchanges, or investors could be shifting wallets. Big swings in daily token movement can point to a shift in sentiment—people either getting ready to buy or sell. Right now, it mostly looks like more users are sending coins to each other, which keeps the network busy even when price sits still. Big Holders Step In Data from IntoTheBlock shows that large holders—often called “whales”—are stocking up. Their coin inflows jumped by 145% over the last seven days, and by 214% over the past 30 days. When big players load up, it can tighten supply on exchanges. That makes it tougher for new buyers to get in without driving price higher. If whales keep buying at this rate, it could lead to more upward pressure on price once everyday investors step in again. Related Reading: Bitcoin Scarcity May Spark Explosive Surge, Bank Study Shows Mid Tier Investors Buy It’s not just the really big holders adding coins. Wallets holding between 10 and 10,000 BTC added more than 79,000 BTC in just one week. That means these mid-tier holders picked up around 11,320 BTC per day on average. As of June 2, they held over 13 million BTC in total. When both big whales and these mid-level holders keep stacking, it further cuts down the number of coins floating on exchanges. Fewer coins available often mean any shift in demand could move price more. Featured image from Imagen, chart from TradingView

Dogecoin started a fresh decline from the $0.20 zone against the US Dollar. DOGE is now consolidating losses and might recover if it clears $0.180. DOGE price started a fresh decline below the $0.1880 and $0.180 levels. The price is trading below the $0.1850 level and the 100-hourly simple moving average. There is a key bearish trend line forming with resistance at $0.1880 on the hourly chart of the DOGE/USD pair (data source from Kraken). The price could start a fresh decline if it declines below the $0.1680 zone. Dogecoin Price Dips Below Support Dogecoin price started a fresh decline after it failed to clear the $0.20 zone, like Bitcoin and Ethereum. DOGE declined below the $0.1920 and $0.1880 levels. The bears even pushed the price below the $0.1750 level. A low was formed at $0.1687 and the price is now consolidating losses below the 23.6% Fib retracement level of the downward move from the $0.2005 swing high to the $0.1687 low. Dogecoin price is now trading below the $0.1850 level and the 100-hourly simple moving average. There is also a key bearish trend line forming with resistance at $0.1880 on the hourly chart of the DOGE/USD pair. Immediate resistance on the upside is near the $0.1760 level. The first major resistance for the bulls could be near the $0.1840 level. It is close to the 50% Fib retracement level of the downward move from the $0.2005 swing high to the $0.1687 low. The next major resistance is near the $0.1880 level. A close above the $0.1880 resistance might send the price toward the $0.20 resistance. Any more gains might send the price toward the $0.2050 level. The next major stop for the bulls might be $0.2120. More Losses In DOGE? If DOGE’s price fails to climb above the $0.1850 level, it could start another decline. Initial support on the downside is near the $0.1685 level and the trend line. The next major support is near the $0.1650 level. The main support sits at $0.1550. If there is a downside break below the $0.1550 support, the price could decline further. In the stated case, the price might decline toward the $0.1350 level or even $0.1320 in the near term. Technical Indicators Hourly MACD – The MACD for DOGE/USD is now losing momentum in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for DOGE/USD is now below the 50 level. Major Support Levels – $0.1680 and $0.1650. Major Resistance Levels – $0.1760 and $0.1880.

A provocative claim by crypto researcher “Darkhorse” has reignited debate over whether Ripple Labs is quietly sidestepping a federal court injunction through a newly disclosed $300 million XRP treasury vehicle involving Asia-based mobility firm Webus International Ltd. “This new treasury setup allows @Ripple to bypass the injunction legally and cleanly,” Darkhorse declared in a post on X dated June 4. He contends that Ripple has found “the only route left by the Judge” by using an institutional structure that moves XRP through regulated intermediaries instead of selling it directly to investors. “It’s not just clever,” he wrote. “It’s compliant by design.” The setup in question was revealed in a recent Form 6-K filing by Webus, which outlined the creation of an XRP Treasury to be managed by Samara Alpha, an SEC-registered investment adviser. The program delegates full control of up to $300 million in XRP to Samara under a phased, regulated structure. While the filing stops short of stating where the XRP will come from, Darkhorse argues the intent is clear: Ripple can legally sell XRP to an SEC-facing intermediary like Samara, which then allocates it to a corporate client like Webus — all without violating the standing injunction. Related Reading: The Worst Case For XRP This Cycle? Just A Giga Rally To $19, Says Analyst “Ripple is enjoined from direct institutional sales without SEC clearance,” Darkhorse explained. “The workaround? Sell to regulated intermediaries (like Samara on behalf of Webus) with treasury agreements that are SEC-transparent and non-retail facing. It’s structured — not casual.” Is Ripple Bypassing The XRP Injunction? Veteran XRP commentator Jay Nisbett pushed back. “I just don’t see any of this as clever or bypassing anything — it’s just adoption,” he replied. Nisbett asserted that Ripple and Webus are not partners, that Webus is simply acquiring XRP like any other participant on the secondary market, and that the asset itself “has been ruled to be not a security in this context.” He added that holding XRP on a balance sheet isn’t the same as triggering a securities transaction. Darkhorse issued a sharp rebuttal. “You’re missing the mechanism,” he told Nisbett, laying out his argument in four parts. First, he emphasized that Webus did not just announce an intent to buy on the open market. “Webus filed via Form 6-K to publicly document a $300M XRP Treasury but not to simply buy on open markets. They delegated management to ‘Samara Alpha,’ an SEC-registered investment adviser, under a phased, regulated structure.” Related Reading: XRP Price Could Hit $21 This Bull Cycle With 1.618 Fib Level As Next Target Second, he argued that the core issue is Ripple’s inability to sell directly to institutions, which is where the intermediary comes in. “This structure is about creating compliant distance,” he wrote. “It’s not Ripple handing XRP to an investor — it’s routing via an SEC-registered manager who takes custody and executes under regulatory supervision.” Third, Darkhorse disputed Nisbett’s assertion that there’s no relationship between Ripple and Webus. “Check RippleNet corridors and prior Asia-Pacific mobility pilot cases,” he wrote. “Their ties to Ripple’s network and XRPL liquidity routes go back years. Just because it wasn’t front-page news doesn’t mean it didn’t happen.” Finally, he challenged the notion that Webus’s XRP holdings are merely passive. “ ‘Just holding on balance sheet’ is not automatic exemption,” he argued. “This is treasury deployment, not idle custody. The fact that Webus structured this through a delegated SEC-facing manager says they do consider XRP institutional risk a legal factor.” He concluded bluntly: “This isn’t Ripple dumping tokens on exchanges. It’s creating institutional conduits that comply while navigating around the injunction bottleneck.” Despite the detailed structure and SEC-facing components, Nisbett remained unmoved. “No I get what you’re saying… I just disagree in that mechanism being an unexpected event,” he wrote. “It’s just a natural maturation of the market and the market reacting to legislation hurdles as the market always has and will.” With Ripple still bound by Judge Torres’s 2024 permanent injunction — which prohibits direct institutional XRP sales unless registered — the debate hinges on whether the Webus structure constitutes indirect circumvention or lawful evolution. The SEC has yet to comment, and the court recently denied the parties’ request to vacate the injunction, calling it “procedurally improper.” At press time, XRP traded at $2.1989. Featured image created with DALL.E, chart from TradingView.com

XRP price started a fresh decline below the $2.20 zone. The price is now consolidating and might aim for a recovery wave above the $2.120 resistance. XRP price started a fresh decline below the $2.20 zone. The price is now trading above $2.150 and the 100-hourly Simple Moving Average. There was a break below a key bullish trend line with support at $2.192 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair might start another increase if it clears the $2.120 resistance zone. XRP Price Dips To Support XRP price failed to gain pace for a move above the $2.220 level and started a fresh decline, like Bitcoin and Ethereum. There was a move below the $0.2150 and $0.2120 levels. Besides, there was a break below a key bullish trend line with support at $2.192 on the hourly chart of the XRP/USD pair. Finally, the price tested the $2.050 zone. It is now consolidating losses below the 23.6% Fib retracement level of the downward move from the $2.281 swing high to the $2.056 low. The price is now trading below $2.120 and the 100-hourly Simple Moving Average. On the upside, the price might face resistance near the $2.120 level. The first major resistance is near the $2.150 level. The next resistance is $2.1750. It is near the 50% Fib retracement level of the downward move from the $2.281 swing high to the $2.056 low. A clear move above the $2.1750 resistance might send the price toward the $2.20 resistance. Any more gains might send the price toward the $2.220 resistance or even $2.2420 in the near term. The next major hurdle for the bulls might be $2.250. More Losses? If XRP fails to clear the $2.15 resistance zone, it could start another decline. Initial support on the downside is near the $2.050 level. The next major support is near the $2.020 level. If there is a downside break and a close below the $2.020 level, the price might continue to decline toward the $2.00 support. The next major support sits near the $1.920 zone. Technical Indicators Hourly MACD – The MACD for XRP/USD is now gaining pace in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now below the 50 level. Major Support Levels – $2.050 and $2.020. Major Resistance Levels – $2.120 and $2.150.

On-chain data shows the Solana network has just seen a large movement of dormant coins. Here’s what this could mean for the cryptocurrency. Solana Coin Days Destroyed Has Witnessed A Huge Spike In a new post on X, the on-chain analytics firm Glassnode has talked about the latest trend in the “Coin Days Destroyed” (CDD) indicator for Solana. A ‘coin day’ is a quantity that one token of the asset accumulates after having stayed dormant (that is, not being involved in any transaction activity) for one day. When a token carrying some number of coin days is moved, its coin days counter resets back to zero, and the coin days that it was carrying are said to be ‘destroyed.’ The CDD measures the total number of coin days being reset in this manner across the network. Related Reading: Bitcoin’s Key Investors Double Down, Buy Another 79,000 BTC When the value of this indicator registers a spike, it means dormant coins are potentially on the move. Generally, this kind of trend is a sign of transaction activity from the long-term holders (LTHs). The LTHs are resolute entities who tend to hold for long periods, so they naturally hold a large number of coin days. As such, transfers from them usually result in the destruction of a significant number of coin days. Now, here is the chart for the Solana CDD shared by the analytics firm that shows the trend in its value during the past few months: As displayed in the above graph, the Solana CDD has observed a large spike recently, suggesting the LTHs have made some transactions. In total, this spike involved the destruction of a massive 3.55 billion coin days. From the chart, it’s visible that the indicator has seen only two spikes of a greater scale in 2025 so far. February 26th recorded a CDD value of 5.53 billion, while March 3rd saw a value of 4.64 billion. The LTHs usually only break their silence when they want to participate in selling, so movements from them can sometimes spell trouble for the cryptocurrency’s price. Large spikes like these can especially be worth taking note of, as they can point toward a possible shift in holder conviction . The aforementioned two larger spikes occurred one after the other, with a third, slightly smaller-scale spike following later in March. Therefore, it’s possible that more than a couple of diamond hands lost their belief during that period. Related Reading: Bitcoin ATH Fails To Hype Retail—Demand Is Actually Down It now remains to be seen whether the latest Solana CDD spike would also be followed up by another, or if this was just a one-off event. SOL Price At the time of writing, Solana is trading around $153.9, down more than 10% in the last week. Featured image from Shutterstock.com, Glassnode.com, chart from TradingView.com