crypto

Yaël Bizouati-Kennedy4/28/25

Bitcoin crosses $95,000 for first time since February

It’s off to the races this Monday for bitcoin, which crossed $95,000 for the first time since February 24.

As Michael Saylor tends to do, following a teasing post on X, “Stay humble. Stack sats,” the Strategy cofounder said Monday morning the company acquired “15,355 BTC for ~$1.42 billion at ~$92,737 per bitcoin and has achieved BTC Yield of 13.7% YTD 2025.”

Strategy, the largest corporate bitcoin holder, now has 553,555 bitcoin, worth roughly $52 billion at today’s prices.

Things are shaping up well for bitcoin, which has been on an upward trajectory since last week.

Geoff Kendrick, global head of digital assets research at Standard Chartered Bank, wrote in a Monday note that bitcoin “is headed for the next leg higher.”

“We expect a strategic asset reallocation away from US assets to trigger the next sharp upswing in bitcoin in the coming months,” he said.

He predicts bitcoin will reach a “fresh all-time high of $120k in Q2. Then onto my $200k end-year forecast,” which isn’t quite as bullish as Cathie Wood’s Ark Invest projection of $2.4 million by 2023, but still more than double its current price.

According to him, several factors are supporting the bullish view:

“US Treasury term premium (which has a close correlation to BTC) is at a 12-year high. Time-of-day analysis suggests that US-based investors may be seeking non-US assets. Meanwhile, Bitcoin accumulation by ‘whales’ (major holders) has been strong.”

The record ETF flows from last week is another bullish indicator for bitcoin.

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Sage D. Young4h

BitMine, the largest ethereum treasury firm, will slow down pace of accumulation

After acquiring more than 5.2 million ethereum tokens, worth $12 billion at current prices, BitMine Immersion Technologies announced it will dial back its weekly buying.

The company commands 4.3% of the total supply of ethereum and will likely meet its target of 5% this year.

“If ETH closes above $2,100 at the end of May 2026, this would be the third consecutive monthly gain — this has never been seen in a crypto bear market,” according to BitMine Chairman Tom Lee. “Thus, a close above $2,100 would validate ‘crypto spring’ has arrived,” Lee continued in a statement.

Meanwhile, SharpLink Gaming, the second-largest ethereum treasury company, announced a nonbinding agreement with Galaxy Digital to roll out a $125 million liquidity fund that will deploy capital into on-chain yield strategies.

“This marks an extension of our treasury strategy into more active strategies, aimed at providing sustainable term structures to great projects,” SharpLink CIO Matthew Sheffield said in a press release.

SharpLink also released its Q1 earnings results Monday morning, reporting total quarterly revenue of $12.1 million and a net loss of $685.6 million, below analyst expectations, “primarily driven by non-cash unrealized losses and impairments offset by net realized gains.”

In other ethereum ecosystem news, Ronin, a gaming-based blockchain known for Axie Infinity, will be migrating on Tuesday to a layer 2 network on ethereum. Ronin was previously exploited for around $625 million by North Korea’s Lazarus Group in March 2022.

Yaël Bizouati-Kennedy

This week’s CLARITY Act markup could be the catalyst bitcoin has been waiting for

The asset has been fairly resilient amid geopolitical uncertainty, holding the key $80,000 level.

Trump Bitcoin Advertisement Hong Kong March 2025

crypto

Yaël Bizouati-Kennedy9h

Circle posts mixed earnings for Q1 2026

Circle, the stablecoin giant that had a mammoth IPO in June 2025, reported its first-quarter earnings early Monday, beating analysts’ estimates on earnings per share but missing on revenue.

Shares initially were up more than 8% at one point in premarket trading, but have since pared some of those gains; they were up 46% year to date before today’s results.

For the first three months of 2026, Circle reported:

Revenue of $694 million, a 20% increase year over year, but below analysts’ expectations of $715 million, according to FactSet.
Earnings per share of $0.21, above analysts’ predictions of $0.19.

Circle also said it raised $222 million in the presale of its ARC token, at a $3 billion fully diluted valuation, from investors including a16z Crypto, Apollo Funds, ARK Invest, BlackRock, Bullish, General Catalyst, Haun Ventures, Intercontinental Exchange, IDG Capital, and Janus Henderson Investors.

Circle issues USDC, the second-largest stablecoin pegged to the US dollar, with a $78.3 billion market cap. Its circulation grew 28% to $77 billion, the earnings report shows.

Last week, JPMorgan analysts raised their price target for December 2026 to $112 (in line with where the stock stands now) from $89. The analysts cited USDC growth as well as progress toward a compromise on the CLARITY Act allowing stablecoin rewards.

“As a reminder, we think passage of CLARITY would remove a key terminal risk overhang for Circle’s ability to grow USDC market cap via its distribution partners’ reward programs,” they said.

According to Benchmark Managing Director Mark Palmer, the markup on the bill is expected this week. At CoinDesk’s Consensus conference last week, Patrick Witt, executive director of the president’s Council of Advisors for Digital Assets, said the administration was targeting a July 4 passage.

Yaël Bizouati-Kennedy

Bitcoin oscillates around $80,000 as it fights to extend rally

The market is trapped in a pronounced tug-of-war between bullish and bearish positioning in the short term, one analyst said.

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crypto

Sage D. Young5/8/26

TeraWulf rises after reporting Q1 earnings

TeraWulf, the bitcoin mining company transitioning into data center development, posted Q1 results that were essentially on par with expectations, but investors seemed to like the future transition from volatile bitcoin mining to a “more stable, contracted revenue model” revenue stream driven by “higher-value HPC workloads.”

TeraWulf reported:

Revenue of $34 million, just missing analyst expectations of $34.7 million.
An adjusted loss per share of $0.09, exactly meeting the consensus estimate from analysts polled by FactSet.

Around 62% of the firm’s Q1 revenue stemmed from high-performance computing lease revenue, “representing the initial ramp of long-term customer agreements,” TeraWulf CFO Patrick Fleury said.

“As we continue to scale, we expect the business to be increasingly driven by recurring, contracted revenue, reducing exposure to the volatility historically associated with bitcoin mining,” Fleury continued.

Fleury noted TeraWulf had $3.1 billion of cash to support its continued transition.

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