Bitcoin Surpasses $110,000, Institutional Demand Increases
Bitcoin has reached a new all-time high by exceeding the $110,000 level. This rise is driven by institutional BTC purchases, especially by firms such as Strategy, Metaplanet and Twenty One Capital. Roshan Robert stated that this rise was supported by ETF inflows, macroeconomic uncertainties and positive regulatory signals.
Presto Research analyst Min Jung emphasized that this rally, unlike previous bull markets, was driven by institutional capital, not individual capital. Presto maintains its $210,000 BTC price target for the end of 2025, which it published at the end of 2024. The company sees this as just the beginning, and sees a structural shift in how institutions value Bitcoin.
VanEck Launches Dedicated Fund for Avalanche Ecosystem
Asset manager VanEck announced in June that it will launch a dedicated digital asset fund based on Avalanche that will be available only to accredited investors. The new fund, called the “VanEck PurposeBuilt Fund,” aims to invest in Web3 gaming, finance, payments, and artificial intelligence projects, while redirecting idle capital into real-world assets (RWA) such as tokenized money market funds on Avalanche.
The fund will be managed by VanEck’s DAAF team, which already manages more than $100 million in net assets. VanEck says this move represents a shift from speculative investments to projects that generate real benefits. Avalanche, on the other hand, draws attention with its RWA products appealing to institutional investors, and there is $ 1.5 billion locked value on the network.
The First XRP Futures ETF in the US is Launching Tomorrow
Volatility Shares is launching the first XRP futures ETF (XRPI) in the US on Nasdaq on May 21, 2025. The fund will invest at least 80% of its assets in XRP-linked futures contracts and will receive a 0.94% annual net management fee.
In addition, a leveraged XRPT ETF targeting 2x the daily performance of XRP will be offered. With this move, the company becomes the second issuer to offer XRP-based investment products after Teucrium. XRP futures launched on CME this week showed investor interest by capturing $19 million in volume on its first day.
Hong Kong Makes Stablecoin Move
The Hong Kong Legislative Council has passed the “Stablecoins Act”, which imposes a licensing requirement on companies issuing stablecoins. Under this law, companies that issue stablecoins pegged to fiat currencies will be required to obtain a license from the Hong Kong Monetary Authority (HKMA). The new regulation stipulates strict requirements in many areas such as reserve management, redemption mechanisms, segregation of customer assets and combating money laundering.
The HKMA stated that the law will come into force within the year and that the sector will be given time to adapt. Financial Services Secretary Christopher Hui stated that the regulation was prepared with a risk-based approach and is based on the principle of “same activity, same risk, same regulation”. MP Johnny Ng emphasized that this law is the first step of the Web3 infrastructure and that stablecoins have great potential in real-world applications.
BTCS Strengthens the Treasury with $8.4 Million Ethereum Purchase
BTCS, a Maryland-based blockchain firm traded on Nasdaq, increased its Ethereum holdings to 12,500 ETH by purchasing 3,450 ETH. The company announced that it spent a total of $8.42 million for this purchase. CEO Charles Allen stated that Ethereum is at the center of the company’s infrastructure strategy and emphasized that this purchase aims to increase staking revenues and create long-term shareholder value.
Last week, BTCS announced that it would issue up to $57.8 million in convertible bonds as part of its agreement with investment firm ATW Partners and that these funds would be used only for the purchase of Ethereum. The Ethereum price increased by 53% in the last 30 days after the Pectra upgrade, reaching $2,532. BTCS shares rose 13.5% on these developments, and rose 8.58% to $2.91 in after-hours trading.
Texas House of Representatives Approves Bitcoin Reserve Act
The Texas House of Representatives approved a bill that would establish a state-level strategic Bitcoin reserve by a vote of 101-42. The bill, SB 21, will be sent back to the Senate with amendments. After Senate approval, the bill will go to Governor Greg Abbott’s desk.
The law allows Bitcoin purchases using the state’s excess general revenue funds and subjects these purchases to reporting rules similar to gold reserves. The custody requirement will only apply to qualified entities operating within Texas or in U.S. states that recognize Bitcoin as “property.”
If the governor signs the bill, Texas will become the third U.S. state, following Arizona and New Hampshire, to establish a Bitcoin reserve with public funds. The bill also includes research into payment systems over the Lightning network. The findings will be submitted to the Parliament in January 2026.
World Foundation Raises $135 Million
World Foundation’s subsidiary, World Assets, raised $135 million from a16z and Bain Capital through the WLD token sale. The fund will be used to expand the World ID system, which verifies identity with Orb devices, in the US and other countries. The sale increased the token supply in circulation, while the WLD price increased by about 4% in the last 24 hours.
World ID offers a system that allows users to prove they are human without sharing personal information. To date, 12.5 million people have undergone Orb verification. The company aims to increase its global presence, especially in regions with limited identity access, by scaling its digital identity infrastructure.
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BITCOIN (BTC)
BTC is trading at $ 111,490 as of the morning hours with a 1.84% gain in value. Bitcoin (BTC) continued its rise after a strong break above the Fibonacci 1.0 level of $ 106,457 and reached the level of 111,420. Following this move, the short-term resistance is at $ 115,074, which corresponds to the Fibonacci 1.27 level. An attack towards this level is possible for the continuation of the rise. However, if there is a profit realization at current levels, the level of 106,457 can be followed as support. If this level is broken, a correction potential may occur down to the previous horizontal consolidation zone of 98,000 – 100,000.
ETHEREUM(ETH)
ETH is priced at $2,630 with a 3.30% gain as of the morning hours. Ethereum (ETH) has broken through a significant resistance level by climbing above the $2,623 level, the upper band of the horizontal range it has been stuck in for a long time. This area also stands out as the 1.00 level of the short-term Fibonacci retracement. If the daily close comes above this level, acceleration towards levels of 2,700 and above can be expected. However, if the price drops below this zone again, the 2,532 (0.5 level) and 2,441 support levels should be monitored.
RIPPLE(XRP)
XRP is trading at $2.41 with a 0.76% increase in value as of the morning hours. Ripple (XRP) has risen to 2.4136 after managing to hold above 2.3630. This area acts as a resistance zone in the short term. If the upward movement continues, 2.4834 and then 2.6445 levels can be targeted. However, if there is a rejection from 2.4136, the price may fall back to the 2.3630 – 2.3300 support zone. In closings below this zone, 2.2330 and 2.1139 levels should be followed.
AVALANCHE(AVAX)
AVAX is traded at $23.96 with a 3.55% increase in value as of the morning hours. Avalanche (AVAX) tested the horizontal resistance zone at 23.03 and made a short-term break above this level by rising to 23.91. This level has worked as both support and resistance in the past and is a technically important area. If the price makes a daily close above this level, there is the potential for upward momentum to continue to the 25.00 – 25.50 area. Otherwise, it should be monitored whether the 23.03 level works as support again. In case of persistence below, the price may fall back to the green demand zone between 20.20 – 20.80.
SOLANA(SOL)
SOL is traded at $177 levels with a 2.03% increase in value as of the morning hours. Solana (SOL) continued its rise from 166.26 and reached 176.75 and started to test previous peaks. This level is an area that can work as resistance in the short term. If SOL manages to break this resistance, there is a potential for the price to rise towards the 184.00 – 190.00 range. However, in case of rejection, it will be critical whether the 166.26 level works as support. Below this level, 144.87 can be followed as the next support.
