NiftyNoon: Bitcoin's Puzzling Drop: Why Did BTC Dip as Equities Pumped? 🧩📉🤔
Bitcoin's perplexing pullback amidst stock market euphoria underscores the complex interplay between macro rotation, technical profit-taking, and underlying institutional demand (May 13, 2025)
Nifty Thought:
Bitcoin took a surprising dive below $102,000 on May 12th, confusing traders as it sold off right after hitting a three-month high near $105,720 despite seemingly bullish news of a 90-day US-China tariff truce that sent stocks soaring. While positive fundamental news continued, including Strategy adding another 13,390 BTC and strong spot ETF inflows ($2B in early May), BTC lagged the equity market rally. Some speculate profit-taking kicked in after Bitcoin's recent +24% monthly gain, while others point to concerns about Strategy and BlackRock now holding ~6% of circulating supply, potentially concentrating price support. The failure to hold key levels ($104k-$105k) on positive macro news left many watching for the next directional cue. While some traders might be de-risking ahead of the May 13 CPI print, the strong underlying ETF demand suggests institutional adoption continues, potentially making this dip a short-term technical correction rather than a major trend reversal.
Highlighted News:
🇺🇸 The U.S. and China agreed to sharply reduce tariffs, signaling a shift from conflict to cooperation between the world’s top economies:
https://x.com/DeItaone/status/1921882663117308403
🔵 Coinbase just became the first and only crypto company to join the S&P 500:
https://x.com/brian_armstrong/status/1922048865395511477
📈 $2 trillion added to US stock market at open:
https://x.com/Cointelegraph/status/1921925906970337400
📉 $215,000,000 liquidated from the crypto market in the past 60 minutes:
https://x.com/watcherguru/status/19220022724410576hP82igIkse_w0CQcovQ
🎬 Today is @frankdegods’ last day as ceo of degods:
https://x.com/frankdegods/status/1921815468567912628
Project and Community News:
Strategy’s 12th acquisition of the year - 13,390 Bitcoin for ~$1.34 billion: https://x.com/cryptoquant_com/status/1921986175578870094
Coinbase, $COIN, is joining the S&P 500 with its stock is surging +5% on the announcement: https://x.com/kobeissiletter/status/19220387889743549S1J_fBcZR0xevgA
Trump Rallies GOP To Back 'Big, Beautiful Bill' As House Releases 389-Page Text: https://x.com/zerohedge/status/1922004128944832772
Amended S-1 just dropped for BlackRock's Ethereum ETF -- $ETHA: https://x.com/JSeyff/status/1920962621919924347
Chairman Paul Atkins' remarks at the Crypto Task Force roundtable on tokenization: https://x.com/secgov/status/1922001043832881513?s=46
According to the FT, Hong Kong crypto investment company Animoca Brands is planning to go public in New York: https://x.com/WuBlockchain/status/1922142762738319462
Businesses are the largest net buyer of bitcoin so far this year, lead by
@Strategy which makes up 77% of the growth: https://x.com/River/status/1921975227942043894
In the past 7 days, stablecoins(USDT&USDC) on Tron increased by $1.74B, and stablecoins(USDT&USDC) on Solana decreased by $1.38B: https://x.com/lookonchain/status/1921957603040432469
‘Crypto and the Evolution of the Capital Markets’: https://x.com/tuongvyle12/status/1921924136554897638?s=46
Retail bought the April "Liberation Day" dip: https://x.com/fejau_inc/status/1921900427307540840
@DonaldJTrumpJr claims there is no truth whatsoever about Truth Social launching a memecoin: https://x.com/DonaldJTrumpJr/status/1922076517145735520
Solana weekly DEX volume closed at a 9-week high of $35.6b, driving weekly REV to $25.9m: https://x.com/smyyguy/status/1921931310118899965
Introducing Looping Strategies - a smarter way to long yield-bearing tokens and multiply your returns on Wasabi: https://x.com/wasabi_protocol/status/1921989649129734537
Camp Network is excited to announce it has raised $30M to build the Autonomous IP Layer 1 Blockchain: https://x.com/fede_intern/status/1921958507651145987
Over 500,000 $DOOD goes to the last department standing in this interactive social-first game: https://x.com/doodles/status/1922021221270479rXA1h2aj9w&s=19
Brave is adding @Cardano support: https://x.com/brave/status/1921945493870874799
ACTAI Ventures, Danny Yang, and Simon Gerovich were all part of the $710M Nakamoto deal: https://x.com/Febers4/status/1921999964026372404
Ordinals and Runes are pumping: https://x.com/ord_io/status/1921939053240340597
$Fwog Up almost 500% since start of April: https://x.com/Tradermayne/status/1921950788512784827
$SPLAT token is now live: https://x.com/asksplat/status/1920371732747075889
@MeebitsNFTs Bits Rewards program is now LIVE: https://x.com/meebitsnfts/status/1922032566078464227?s=46
Quick Stats:
👾 Blur ETH Daily Volume: 1,005 ETH (▲ 86.05%)
🌊 OpenSea ETH Daily Volume: 1,016 ETH (▲ 23.65%)
🟠 BTC: $103,660.35 (▼ 0.25%)
🔷 ETH: $2,518.61 (▼ 1.00%)
🟣 Solana: $173.93 (▼ 0.57%)
🟪 Polygon: $0.25 (▼ 5.01%)
Top NFT Sales:
CryptoPunks #5864: 49.50 ETH
CryptoPunks #5989: 48.49 ETH
CryptoPunks #6340: 47.88 ETH
NFT Daily Winners:
🧦 Bitcoin Puppets: 0.05 BTC (▲ 11.32%)
🐱 Quantum Cats: 0.04 BTC (▲ 7.00%)
🧙♂️ Taproot Wizards: 0.19 BTC (▲ 6.16%)
👾 Tensorians: 2.96 SOL (▲ 5.71%)
🚬 CryptoPunks: 46.35 ETH (▲ 1.78%)
💼 Ordinal Maxi Biz: 0.03 BTC (▲ 0.35%)
👩🏻 Milady Maker: 3.18 ETH (► 0.00%)
🦧 Bored Ape Yacht Club: 12.30 ETH (► 0.00%)
🏳🌈 Chromie Squiggles: 4.39 ETH (► 0.00%)
⛩ Azuki: 2.50 ETH (► 0.00%)
🍭 Mocaverse: 2.15 ETH (► 0.00%)
NFT Daily Losers:
🐵 NodeMonkes: 0.04 BTC (▼ 0.17%)
🐧 Pudgy Penguins: 11.24 ETH (▼ 3.06%)
🏴☠ Captainz: 0.56 ETH (▼ 3.89%)
😡 Mad Lads: 37.46 SOL (▼ 6.35%)
Notes:
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