The bulls finally stepped up on Monday evening and didn’t allow a further breakdown. Instead, BTC started to recover some ground and returned to $110,000 yesterday. It climbed slightly again on Wednesday morning to almost $112,000, where it faced some pressure and was driven to the current $111,000. Its market capitalization has risen to just over $2.210 trillion on CG, while its dominance over the alts stands tall at 56.5%.
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Crypto treasury activity is accelerating as digital asset treasury companies (DATCOs) – a mix of crypto projects, funds, and even traditional finance firms – buy and hold tokens such as Bitcoin (BTC), Ethereum (ETH), Solana (SOL), Ethena (ENA), and Sui (SUI) as part of long-term investment strategies. DATCOs collectively hold over $100 billion in digital assets, led by publicly listed companies such as Strategy, Metaplanet, and SharpLink Gaming, according to a recent report by Galaxy. In fact, since June 1, at least 98 companies have announced plans to raise more than $43 billion to buy BTC and other cryptocurrencies, the Wall Street Journal reported.
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In comparison, Altcoins performed much worse. Ethereum nearly touched $4,800 a few days ago, just a step away from its historical high, but failed to break through and has now dropped below $4,500, falling 5% in the short term. Other mainstream Altcoins like SOL, LINK, AVAX, SUI, and HYPE have mostly declined between 3%-7%, almost universally experiencing setbacks. The only counter-trend performer was #MNT, surging over 10% in a single day, trading at $1.2.
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