Bitcoin Long-Term Holder Supply Decline: A Signal of Market Top?
Recent data from Glassnode indicates a decline in Bitcoin’s long-term holder supply, potentially signaling an early warning of a market top. This development comes as Bitcoin’s price hovers around $102,243.76 USDT, raising questions about the sustainability of the current bullish trend.
Bitcoin’s Long-Term Holder Supply Decline Signals Potential Market Top
Bitcoin’s long-term holder supply has shown a notable decline, suggesting early warning signs of a market top, according to Glassnode’s on-chain data. The analytics firm observed that LTH supply—wallets holding BTC for at least 155 days—peaked at 14.29 million BTC after rising from 13.66 million BTC in mid-March but has since dipped twice in May.
Concurrently, LTH spending, which tracks coins moving out of long-held wallets, has increased to 0.43, a level historically associated with local price tops. This inflection point could signal heightened selling pressure among seasoned investors.
Bitcoin’s New Era: Corporations Take the Lead
In a striking shift, corporations have emerged as the dominant buyers of Bitcoin in 2025, outpacing individual investors and ETFs. This trend marks a significant departure from Bitcoin’s decentralized ethos, as centralized entities now control substantial portions of the asset. The crypto queen faces an existential question: Can it remain a populist alternative amid growing corporate consolidation?
Since the start of 2025, companies have acquired 157,000 BTC, turning bitcoin into a speculative treasury strategy rather than a tool for financial liberation. This accumulation contradicts Satoshi Nakamoto’s original vision of a decentralized currency. The risk of a crypto oligopoly looms large, threatening Bitcoin’s antifragile nature and its role as a hedge against traditional financial systems.
Ukraine Set to Create Europe’s First Sovereign Bitcoin Reserve
Ukraine is poised to establish Europe’s inaugural national Bitcoin reserve, with pivotal legislation advancing toward parliamentary ratification. The bill will codify digital asset definitions, exchange regulations, and taxation frameworks—effectively bridging cryptocurrency with traditional finance.
Binance has endorsed the initiative while emphasizing necessary legal adjustments. This development places Ukraine alongside forward-thinking jurisdictions like Brazil and Switzerland exploring sovereign crypto reserves.
Yaroslav Zhelezniak, Deputy Chairman of Ukraine’s Finance Committee, confirms the groundbreaking proposal will reach parliament within weeks. The MOVE signals Kyiv’s strategic embrace of digital assets as core financial infrastructure.
Trillion-Dollar Gap: Why Your Bitcoin Is Never Fully Insured, BitGo CEO Warns
BitGo CEO Mike Belshe delivered a sobering message to crypto investors during a recent interview on the David Lin Report: insurance coverage for digital assets remains woefully inadequate. The executive, whose firm custodies over $100 billion in crypto, revealed that even institutional clients with $250 million in coverage are exposed to significant risk.
"Insurance is not something you can commercially expect to cover 100% of digital assets," Belshe stated, emphasizing the trillion-dollar valuation gap between crypto markets and available insurance capacity. The FDIC remains the only entity capable of providing uncapped protection—a privilege currently unavailable to cryptocurrency holders.
Bitfarms Reports 33% Revenue Growth but Mining Margins Shrink Post-Halving
Bitfarms posted a 33% year-over-year revenue increase to $67 million in Q1 2025, yet gross mining margins plummeted to 43% from 63% in the same period last year. The April 2024 Bitcoin halving drove up production costs, squeezing profitability despite top-line growth.
The miner secured a $300 million private debt facility with Macquarie Group to fund high-performance computing development at its Panther Creek site, signaling strategic diversification. Its energy pipeline now stands at 1.4 GW, with 80% U.S.-based operations.
