BlackRock deposits $321M in Bitcoin and $102M in Ether to Coinbase Prime

Bitcoin's price recently dropped to nearly $80,000, which Arthur Hayes, the former CEO of BitMEX, believes marks a significant bottom for the cryptocurrency. This prediction comes amid ongoing market volatility and fluctuating investor sentiment regarding Bitcoin's future performance.

Bitcoin is undergoing a significant pullback in 2025, with prices recently retesting the $82,000 mark due to a massive sell-off by investors, particularly new whale buyers. This trend indicates a wave of capitulation among these large holders as market sentiment shifts negatively.

Bitcoin's market has suffered a significant downturn, with a reported $1 trillion loss, exposing its fragile market structure according to Deutsche Bank. The price of Bitcoin has plummeted from its all-time high of $126,000 to around $81,000, triggering panic among traders and raising concerns about the stability of the cryptocurrency market.

Bitcoin is experiencing a significant drawdown attributed to reversing ETF flows, weaker treasury demand, and a shrinking stablecoin supply, indicating a capital flight. Despite this volatility, the long-term demand for Bitcoin remains strong, bolstered by institutional adoption and sovereign interest. Bitcoin Hyper, a new initiative, aims to enhance Bitcoin's utility through a high-speed DeFi platform, raising over $28 million in its presale.

BitMine has significantly increased its Ethereum holdings by adding nearly 70,000 Ether last week, bringing its total to over 3% of the entire ETH supply. This acquisition, valued at approximately $60 million, comes during a period of market recovery despite the company facing substantial unrealized losses of around $4 billion.

Bitcoin's price has rebounded to $86,000 after hitting a low of $80,915 last week, as Deutsche Bank identifies five key factors contributing to the recent sell-off in the cryptocurrency market. This recovery follows a period of significant volatility, with notable commentary from figures like Anthony Popliano and Fed Governor Christopher Waller.

XRP has experienced a notable increase in investor demand during one of the largest outflow runs since 2018, indicating a potential resilience in the cryptocurrency amidst market volatility. This surge in demand highlights a growing confidence among investors despite the challenging conditions.

Bitcoin has experienced a significant price drop of over $40,000 in the past six weeks, leading to a negative shift in market structure, according to Jeff Park, CIO at ProCap BTC. He emphasizes that the focus should be on the volatility markets rather than just spot prices, noting a resurgence in implied volatility that resembles earlier Bitcoin market conditions.