Bitcoin price has broken into uncharted territory, hitting a fresh all-time high of above $124,000. BTC is now up nearly 8% over the past week.
The move comes as a key on-chain shift line up in the bulls’ favor. Aggressive buying in perpetual futures has been building for days. But this time, the bulls might just aim higher than the current all-time high zone, as a key plot twist has turned in favor of the Bitcoin price action.
Miner Reserves Retreat As Sell Pressure Eases
Earlier this month, miner reserves swelled from 1,806,790 BTC on August 2 to 1,808,488 BTC on August 10. This raised the risk of a supply wave hitting the market. This uptick reflected higher sell-side pressure from miners—a move often seen as a headwind for rallies.
But as the Bitcoin price tried breaking out, reserves fell to 1,806,630 BTC and have since held steady, signaling that the immediate selling risk has eased. This plot twist retreat has cleared the runway for buyers to push the market higher without heavy miner liquidation overhead.
Miner Reserves: The total BTC held by miners. Rising reserves can signal incoming sell pressure; falling reserves often remove a major supply-side threat.
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Taker Buy Volume Shows Bulls Were Ready
Taker Buy Volume; the total notional value of market buy orders lifting sell-side liquidity, surged to $14.31 billion on August 11 during a failed breakout attempt.
Here’s the key part — in order for a market buy order to get filled, it has to “hit” the sell orders already sitting on the order book. So even though they’re buying, they’re doing it immediately at the seller’s price, not waiting for a dip or a better deal.
In other words, high Taker Buy Volume means aggressive buyers are removing liquidity from the sell side of the order book — they’re clearing out sellers quickly, which can drive the price higher if the pressure keeps up.
This metric has remained elevated at $12.24 billion, showing traders are still chasing price at the ask instead of waiting for dips.
Historically, such sustained buy-side aggression often precedes successful breakouts. In this case, it was less a question of if the rally would break to new highs and more a question of when.
Key Bitcoin Price Levels to Watch
With momentum now tilted heavily toward the bulls, the immediate test lies at $124,300, which stands as the last significant barrier before higher targets come into play.
A clean break and daily close above this level could open the Bitcoin price path toward $127,600, aligning with the 1.0 Fibonacci extension and representing the next major upside objective.
On the flip side, if Bitcoin fails to hold above $121,600, especially in combination with a rebound in miner reserves, the bullish setup could face a sharper pullback.
Solana has posted a 7% increase in the past 24 hours, aligning with the broader market’s recovery. While this surge may appear promising, technical and on-chain data suggest that the coin could face significant resistance.
Despite the recent rally, SOL risks shedding these gains and could fall below the $100 mark if bearish pressures dominate.
Solana’s Price Surge Lacks Momentum
While impressive, SOL’s current rally largely reflects the broader market trend rather than demand for the altcoin. The bearish divergence formed by its Chaikin Money Flow (CMF) shows this.
At press time, SOL’s CMF is below the zero line at -0.09, indicating a lack of buying momentum among SOL market participants.
The CMF indicator measures money flow into and out of an asset. A bearish divergence emerges when the CMF is negative while the price is climbing. The divergence signals that despite the upward movement, there is more selling pressure than buying interest, suggesting weak bullish momentum.
This indicates that SOL’s current price rally may lack sustainability and could be at risk of reversing or stalling as new demand remains scarce.
Further, the coin’s long/short ratio highlights that its market participants lean more heavily toward the short side. At press time, this stands at 0.97.
The long/short ratio measures the balance between long positions (betting on price increases) and short positions (betting on price decreases) in the market. When the ratio is below zero like this, it indicates that there are more short positions than long positions.
This suggests that bearish sentiment remains dominant in the SOL market, and its futures traders are anticipating a decline in the asset’s price.
Solana in Crucial Zone: Will $95 Hold or Lead to a Steeper Decline?
During Monday’s intraday trading session, SOL plummeted to a 12-month low of $95.26. Although it has since rebounded to trade at $108.77 at press time, the lingering bearish bias leaves the coin at risk of shedding these gains.
If SOL witnesses a pullback, it could break below the support at $107.88. If it falls back below $100, the coin’s price could fall toward $79.
On the other hand, if the uptrend continues, backed by a surge in new demand, SOL’s price could breach the resistance at $111.06 and climb toward $130.82.
The creators of the TRUMP meme coin have moved over $52 million worth of tokens to centralized exchanges, sparking debate about the project’s motives and transparency.
The token, themed after US President Donald Trump, has gained massive attention since its launch, but now faces scrutiny over insider activity and market impact.
TRUMP Team Describes $52 Million Token Transfer as ‘Liquidity Operations’
On May 10, on-chain analytics platform Lookonchain revealed that the team behind TRUMP deposited 3.5 million tokens, valued at more than $52 million, across three major exchanges—Binance, OKX, and Bybit.
According to the firm, Binance received the largest share at 1.5 million tokens, estimated at $22 million. OKX followed with 1 million tokens worth $15 million, while Bybit received just over 500,000 tokens valued at $7.5 million.
However, the TRUMP token team claimed the transfer aimed to strengthen liquidity and maintain stable market access.
They explained that the tokens came from a pre-designated liquidity wallet created during the project’s launch. The team also assured users that all recently unlocked tokens had been relocked and would remain so for 90 days.
“Demand for $TRUMP has been tremendous. On May 10, 2025 at approximately 1:30 am UTC, 3.5 million $TRUMP will be moved onto exchanges to further support liquidity operations to help ensure continued availability of $TRUMP for both buyers and sellers. All of this liquidity is being provided from a liquidity wallet from the initial launch,” the team stated.
While the team maintains that the token transfers are part of routine liquidity management, recent findings suggest a different story.
A CNBC report, citing Chainalysis, revealed that the team behind TRUMP has earned over $320 million in trading fees.
Furthermore, there is a wide gap between investor outcomes. Of more than two million wallets holding TRUMP, roughly 760,000 are currently at a loss.
In sharp contrast, only 58 wallets have each made over $10 million, together netting about $1.1 billion in profits.
This stark imbalance suggests that a small group of insiders may have captured most of the value generated by the token.
According to BeInCrypto data, the token surged to $77 on its first trading day. However, it has since plummeted by 86%, trading near $14 at the time of writing.
Speculation about Nvidia adding Bitcoin to its treasury reserves has surfaced recently. These unconfirmed reports lead to questions about the potential for increased institutional adoption of Bitcoin and the possible performance of such a move for Nvidia, whose stock value has fallen considerably this year.
BeInCrypto interviewed representatives from Banxe, FINEQIA, CoinShares, Bitunix, and Acre BTC to discuss Bitcoin’s potential benefits for Nvidia and explore whether such an investment would ultimately benefit the company in the long run.
Rumors of Nvidia’s Potential Bitcoin Investment
Over the past few weeks, several reports have surfaced across social media suggesting that Nvidia, a pioneer in GPU-accelerated computing, is considering adding Bitcoin to its balance sheet.
These reports remain purely speculative at the time of press, given that Nvidia has not made any official statements on the topic. When BeInCrypto reached out for clarification, an Nvidia spokesperson declined to comment.
Even as rumors, these reports highlight the significant impact of such a decision on Bitcoin’s public perception. Given Nvidia’s current economic circumstances, marked by a substantial drop in stock value, an announcement of this nature would not be completely unexpected.
As such, Nvidia’s stock price has taken a hit. According to recent reports, Nvidia stock has fallen 35% since its latest price peak in January.
Nvidia’s stock reacted especially poorly to the news that China’s Huawei Technologies is testing a new AI chip potentially more powerful than Nvidia’s H100.
Given these circumstances, Nvidia can mitigate current economic challenges by diversifying its treasury assets.
Should Nvidia Consider Adding Bitcoin to Its Balance Sheet?
Such a move would significantly alter how other institutional investors view Bitcoin, potentially encouraging more companies to adopt a similar strategy. The crypto community would likely celebrate the news, believing it would solidify Bitcoin’s legitimacy as an asset class.
However, the extent to which Nvidia requires Bitcoin for stability remains controversial.
Risks of Adding Bitcoin to Nvidia’s Treasury
As it is, Nvidia already has other strategies that help the company hedge against volatility and inflation. Adding Bitcoin into the mix may seem excessive.
This becomes especially true when considering just how volatile Bitcoin itself can be. Though the asset can generate significant gains during bullish periods, the losses it can cause are equally severe.
As such, Bitcoin might not be the natural choice to defend Nvidia from its current stock declines. An investment of this kind would need to reflect a long-term strategy rather than an impulse decision.
Would BTC Even Make a Difference on Nvidia’s Share Price?
Bitcoin has demonstrated high returns over the long term, though with considerable volatility. For companies able to withstand the associated risks, including large price fluctuations, it offers the potential for significant future profits.
With its substantial financial resources, Nvidia could absorb Bitcoin’s volatility without a major impact on its balance sheet. In this sense, the company has little to lose, but also little to gain.
Ultimately, Nvidia’s decision to invest in Bitcoin hinges on timing and urgency, particularly given recent developments that have alleviated some pressures on the company.
Easing Export Restrictions: A Boost for Nvidia
Last week, the Trump administration announced its plans to roll back certain Biden-era export restrictions on advanced semiconductor chips.
Biden’s ‘AI Diffusion Rule’ established these restrictions to enhance US technological leadership by preventing advanced chips from being diverted to countries of concern, especially China. Given that China was Nvidia’s main buyer, the rule significantly hampered its sales.
A rollback would be highly advantageous for Nvidia’s sales, especially amid this new wave of chipmakers.
Similarly, the recent US-China tariff pause led to Nvidia’s stock price rise. Despite its temporary nature, the news is a positive sign for the company, promising reduced uncertainty and potential gains in sales and supply chain stability.
Considering these developments, adding Bitcoin to Nvidia’s balance sheet may no longer be urgent. If Nvidia were to make such a decision out of haste, it might also drive away traditional investors and long-time buyers.
Many areas of traditional finance remain highly skeptical of Bitcoin due to its short history and highly volatile nature. If Nvidia adds Bitcoin as a treasury asset, traditional investors might view it as a poor decision, potentially alienating long-time clients.
