1. Home
  2. Markets

Markets

GameStop rallies overnight as Roaring Kitty reveals $180M GME position

Keith Gill, the trader linked to the 2021 GME short squeeze, has returned to Reddit claiming he’s made a big bet on GameStop, sending the stock’s price surging overnight markets.

GameStop (GME) surged over 19% in overnight trading after Keith Gill, known as “Roaring Kitty,” posted to Reddit that he’s holding $181.4 million worth of GME stock and call options. 

Gill, the trader widely cited as a major influence on the 2021 GME short squeeze, posted to Reddit on his “DeepFuckingValue” account on June 2 for the first time since April 2021.

He shared a screenshot apparently showing he purchased 5 million GME shares for $115.7 million and put $65.7 million into call options, betting that GME would be at least $20 a share on June 21.

Read more

Rapid Response and Transparency Key to Building Trust in Digital Assets, Says Kucoin MD

BNB, AR, XMR, and TIA set to rally — Will Bitcoin’s $70K breakout be the trigger?

Bitcoin price action could remain sideways for longer, but BNB, AR, XMR, and TIA may see some short-term gains.

Bitcoin (BTC) is facing resistance above the psychological barrier at $70,000, but a positive sign is that the bulls have not ceded much ground to the bears. Bitcoin is down marginally by just under one percent this week.

Bitcoin’s range-bound action over the past few days has not hampered investments into the spot Bitcoin exchange-traded funds. Farside Investors data shows more than $2.1 billion in net inflows into the Bitcoin ETFs since May 14. This suggests that the investors are accumulating Bitcoin, anticipating a breakout to the upside.

Veteran trader Peter Brandt is bullish on Bitcoin in relation to gold in the long term. In a post on X, Brandt said that the ratio of gold to Bitcoin is likely to remain volatile for another 12-18 months, but after that, the rally could hit a new high where 100 ounces of gold is needed to buy one Bitcoin. Currently, each Bitcoin is worth about 29 ounces of gold.

Read more

Rapid Response and Transparency Key to Building Trust in Digital Assets, Says Kucoin MD

Price analysis 5/31: BTC, ETH, BNB, SOL, XRP, DOGE, TON, SHIB, ADA, AVAX

Bitcoin and Ether may spend more time inside a range before starting a trending move.

Bitcoin (BTC) has been range-bound for several days, indicating a tussle between the bulls and the bears for supremacy. Trading firm Mosaic Asset believes that “loosening financial conditions” could boost a risk-on trade, and Bitcoin could be on the verge of a breakout to the upside.

CryptoQuant founder and CEO Ki Young Ju said in a post on X that Bitcoin remained near $10,000 for six months in 2020 with high on-chain activity before skyrocketing to $64,000 in 2021. A similar trend was being seen in 2024, with “$1B added daily to new whale wallets, likely custody.”

Although a breakout has eluded Bitcoin, the bulls have achieved nearly an 11% rally in May. That is the first positive close after three years of negative monthly performance in May. That gives positive momentum to the buyers to extend the bullish performance in June.

Read more

Rapid Response and Transparency Key to Building Trust in Digital Assets, Says Kucoin MD

TradFi execs say crypto derivatives will play larger role in Bitcoin’s future

Experts say BTC and ETH derivatives will be instrumental in integrating crypto to TradFi and sending each to new all-time highs.

Bedroom crypto traders and analysts have frequently expressed concern at Bitcoin’s (BTC) inability to overcome is all-time high, but professionals from the Chicago Mercantile Exchange (CME), TradingView and TJM Institutional Services believe that the launch of a spot Bitcoin ETF will play a key role in sending BTC’s price to the highs traders dream of. 

While speaking at Consensus on the role crypto derivatives will play in tomorrow’s market, TradingView general manager Pierce Crosby explained that derivatives have always been a integral part of the crypto traders’ experience, but trading at the centralized exchanges available from 2015 to 2022 meant many spot and margin traders had their “face ripped off” by high fees and slippage.

Crosby said,

Read more

Rapid Response and Transparency Key to Building Trust in Digital Assets, Says Kucoin MD

Price analysis 5/30: BTC, ETH, BNB, SOL, XRP, DOGE, TON, SHIB, ADA, AVAX

Bitcoin ETF inflows show that the investors are using the current consolidation to accumulate.

Bitcoin (BTC) remains in sideways price action, but a positive sign is that the investors have continued to buy the spot Bitcoin exchange-traded funds. Farside Investors data shows net positive inflows into the ETFs for the past 11 days. 

CoinShares data shows that Bitcoin investment products saw more than $1 billion in inflows last week. Along with institutional investors, whales also seem to be accumulating Bitcoin. Glassnode analysts said in The Week On-chain report that long-term investors were “beginning to re-accumulate coins for the first time since Dec 2023.”

According to the Securities and Exchange Commission filings, more than 600 United States investment firms have invested in spot Bitcoin ETFs since January. The ETFs have bought 855,619 Bitcoin since launch, with an average of 6,200 Bitcoin per day.

Read more

Rapid Response and Transparency Key to Building Trust in Digital Assets, Says Kucoin MD

Bitcoin and Ether ETF markets poised to reach $450B — Bernstein

Bernstein report projects Bitcoin and Ether ETF markets to reach $450B, driven by crypto price forecasts and ether's commodity classification, with positive implications for other tokens like Solana (SOL).

The post Bitcoin and Ether ETF markets poised to reach $450B — Bernstein appeared first on Crypto Briefing.

Rapid Response and Transparency Key to Building Trust in Digital Assets, Says Kucoin MD