Corporate Bitcoin Treasuries: A Double-Edged Sword for Market Stability

Coinbase's head of research, David Duong, has issued a warning about the increasing trend of publicly traded companies accumulating Bitcoin as part of their treasury assets. While this trend has provided short-term bullish momentum for Bitcoin, Duong highlights the potential systemic risks it poses. The concentration of Bitcoin holdings among corporations could lead to cascading sell-offs during market downturns, exacerbating volatility. The report notes that 126 public companies now hold Bitcoin in their treasuries, following the lead of early adopters like MicroStrategy. This growing corporate involvement underscores Bitcoin's evolving role as a treasury asset but also raises questions about market stability and long-term sustainability.

Coinbase Warns of Systemic Risks in Corporate Bitcoin Treasury Trend

Coinbase's head of research David Duong has raised alarms about the growing trend of publicly traded companies amassing bitcoin treasuries. While acknowledging the short-term bullish impact, Duong cautions that concentrated corporate holdings could trigger cascading sell-offs during market downturns.

The report highlights how 126 public companies now hold Bitcoin as treasury assets, following early adopters like MicroStrategy and Tesla. This creates systemic risk where coordinated divestment could exacerbate price declines across crypto markets.

Despite these warnings, Coinbase maintains confidence in Bitcoin's long-term appreciation trajectory. The exchange views current institutional adoption as structurally different from previous cycles, though potentially creating new vulnerabilities.

GameStop Expands Convertible Notes Offering to $2.25B Amid Bitcoin Strategy Speculation

GameStop Corp. has increased its convertible senior notes offering from $1.75 billion to $2.25 billion, with an additional $450 million option for purchasers. The MOVE could potentially raise $2.68 billion by the closing date of June 17, 2025. Funds are earmarked for strategic investments and acquisitions, aligning with the company's long-term objectives.

Market observers speculate whether GameStop is positioning for further Bitcoin accumulation, given its disclosed holdings of 4,710 BTC acquired in Q1 2025. The gaming retailer appears to be betting on Bitcoin's long-term growth, supported by evolving U.S. crypto regulations. This trend mirrors broader corporate interest in cryptocurrency as a strategic asset.

Bitcoin Selling Pressure to Fade After $130K, Says Bitwise CEO

Bitcoin may be approaching a pivotal shift in market dynamics as Bitwise CEO Hunter Horsley predicts a significant reduction in selling pressure once the cryptocurrency surpasses the $130,000 to $150,000 range. Horsley asserts that long-term holders, currently taking profits at NEAR all-time highs, will cease selling altogether at these levels, potentially creating unprecedented scarcity on the open market.

The flagship cryptocurrency has maintained strength near record territory, trading around $108,700—just shy of its May peak of $111,970. A 6% monthly gain brings the psychologically crucial $100,000 threshold into focus. Early adopters capitalizing on multi-year gains presently drive profit-taking activity, but Horsley anticipates this trend will diminish as Bitcoin establishes new price paradigms.

Bitcoin’s Cycle Top: Will 2025 or 2026 Mark the Peak?

Bitcoin faces critical technical tests as analysts debate whether its next cycle peak will arrive in September 2025 or March 2026. The cryptocurrency currently hovers near decisive Fibonacci support levels at $104,180 and $102,435—breaches below these could signal further downside.

A decisive breakout above $100,000 WOULD likely trigger a robust rally, with traders eyeing successive targets at $109,787, $113,071, and $115,966. Market observers note Bitcoin's position within a falling wedge formation, emphasizing that any sustained upward move requires confirmation through heavy trading volume.

The 200-week simple moving average continues to serve as a key cyclical indicator, with historical patterns suggesting the current bull run may extend into late 2025 or early 2026. As institutional interest grows and technical patterns develop, Bitcoin's next major price inflection point remains the focal point of crypto markets.

Centralized Entities Now Hold 31% of Bitcoin's Circulating Supply

Institutional and governmental control of Bitcoin has reached a historic milestone. A Gemini-Glassnode report reveals centralized entities—including sovereign treasuries, public companies, ETFs, and exchanges—now custody 6.1 million BTC, valued at $668 billion. This represents 30.9% of circulating supply, marking a 924% accumulation surge over the past decade.

The trend coincides with Bitcoin's price ascent from sub-$1,000 to six figures, reflecting a fundamental shift in perception. Volatility-prone speculation is giving way to institutional conviction, with these players treating BTC as a strategic reserve asset. Market behavior shows stabilizing patterns as whale movements increasingly offset retail-driven swings.

Exchange wallets dominate holdings, but the growth of spot Bitcoin ETFs and corporate treasuries—like MicroStrategy's $14 billion stash—proves particularly telling. Governments have also entered the fray, with the U.S. and China collectively seizing over 400,000 BTC through enforcement actions.

Bitcoin Dips Over 4% Amid Escalating Middle East Tensions

Bitcoin fell sharply following Israeli airstrikes near Tehran, dropping 4% to $103,556 as geopolitical risks triggered a flight from risk assets. The selloff mirrored declines in oil and equities, while gold rallied 1.7% as a traditional SAFE haven.

Israel's strike on Iranian military infrastructure marks a significant escalation, coming days after high-level US-Israel defense talks. Market volatility indicators spiked as traders priced in potential supply chain disruptions and broader regional conflict.

The cryptocurrency market's sensitivity to macro shocks was underscored by the rapid $5,000 BTC price swing. Trading volumes surged across major exchanges during the event, with derivatives markets showing increased hedging activity.