Video-sharing platform Rumble has confirmed the purchase of a cache of BTC for $17 million, joining a growing list of firms embracing the asset. The purchase follows a blueprint to allocate a chunk of its corporate treasury to Bitcoin back in 2024.
Rumble Adds 188 BTC To Its Corporate Treasury For $17.1 Million
According to a press release, Rumble has purchased around 188 BTC to its treasury in line with its plans to diversify its holdings. Per the statement, the video-sharing company splurged 17.1 million on the purchase at an average price of $91,000 per token.
Back in 2024, Rumble disclosed plans to allocate 20 million from its corporate treasury to pursue a Bitcoin accumulation strategy. With around $3 million left, there are plans that the company will continue to bolster its holdings at the discretion of management.
“We are excited to announce these purchases and allocation of Bitcoin as part of our treasury strategy as well as a larger strategic move as we further expand our ties to the crypto industry,” said Rumble CEO Chris Pavlovski.”
The latest purchase will serve as an inflation hedge for Rumble while confirming a broader push to embrace cryptocurrencies. President Trump’s executive order for Strategic Bitcoin Reserve is tipped to trigger increased corporate interest in BTC.
“These holdings have the potential to serve as a valuable hedge against inflation and will not be subject to dilution like so many overprinted government-issued currencies,” added Pavlovski.
Corporate Interest in BTC Rises To An All-Time High
Rumble’s decision to add BTC to its balance sheets comes on the heels of frenetic accumulation activity by corporations. Over 70 publicly listed firms are holding 650,000 BTC in their corporate treasuries, confirming rising institutional interest.
Strategy, with its impressive holdings, is raising $21 billion for BTC purchases through share sales. MARA Holdings, Riot Platforms, and Metaplanet are steadily increasing the size of their Bitcoin holdings.
Aware of rising institutional interest, Bitwise OWNB ETF will provide exposure to companies holding at least 1,000 BTC via an index strategy.
As Bitcoin flirts with the key psychological threshold of $100,000, derivatives traders are closely watching for signals that could mark the final leg up—and are already positioning for what may follow.
Derivatives experts Gordon Grant and Joshua Lim told BeInCrypto that Bitcoin’s move past $100,000 now reflects a long-term holding strategy, unlike the speculative trading seen when it first crossed that threshold after Trump’s election victory.
Bitcoin Nears $100K: A Different Kind of Ascent?
At the time of press, Bitcoin’s price hovers just below $98,000. As it grows, traders anxiously watch for it to surpass the $100,000 threshold. When it does, it will be the second time in crypto history that this will happen.
According to Cryptocurrency Derivatives Trader Gordon Grant, the current move toward six figures lacks the euphoric energy of past rallies, such as the one after Trump won the US general election last November. However, that may be a good thing.
“This current bounce back feels much more of a low-key, lethargic reclamation of those highs,” Grant told BeInCrypto, referencing Bitcoin’s recovery from lows around $75,000 in early April. “The positioning rinsedown through all key moving averages… was a proper washout.”
He added that this washout, a sharp move lower that flushed out weak hands, cleared the decks for a healthier rebound. A “high-velocity bounce” followed, as Grant phrased it.
“[It] has since responsibly slowed down at the $95,000 pivot—a level at which Bitcoin has been centered, +/- 15%, for over five months now,” he added.
“Current complacency among vol sellers in fading the technical threshold at $100K is markedly different,” he said.
Grant added that, back in December, volatility spiked on expectations of a rapid moonshot toward $130,000–$150,000. Now, however, implied volatility has actually fallen by around 10 points during the final 10% of Bitcoin’s climb—an unusual dynamic that has punished traders holding out-of-the-money options who were betting on big price swings.
This time, the substantial loss of market optimism also contributes to the situation.
The Rise of Institutional Buyers
Market sentiment has shifted significantly since January. The excitement seen during Trump’s election has been replaced by uncertainty. According to Grant, souring macro conditions such as tariff-driven equity selloffs and growing caution among traders have contributed to this mood shift across markets.
“Whereas BTC on first launch to/through $100K was accompanied by euphoria about presidential policies… the re-approach has been marred by malaise,” Grant explained.
In short, the motivation to buy may now be driven more by fear than greed.
Joshua Lim, Global Co-Head of Markets at FalconX, agreed with this analysis, highlighting a notable shift in the primary source of Bitcoin demand.
“The dominant narrative is more around Microstrategy-type equities accumulating Bitcoin, that’s more consistent buyers than the retail swing traders,” Lim told BeInCrypto.
In other words, more speculative retail buying might have fueled earlier enthusiasm around Bitcoin’s price hitting $100,000. This time, the more consistent and significant buying is coming from large companies adopting a long-term Bitcoin holding strategy, similar to the one adopted by Michael Saylor’s Strategy.
The recent formation of 21 Capital, backed by mega companies like Tether and Softbank, further confirms this shift in motivation.
Consistent institutional buying can also sustain an increase in Bitcoin’s price over time.
Why Are Institutions Increasingly Bullish on Bitcoin?
With growing momentum from sovereign players and corporate treasuries, institutional buying may be critical in sustaining Bitcoin’s next upward trajectory.
Grant highlighted that developing countries seeking to move away from a weakening dollar and towards a more independent asset like Bitcoin could play a significant role. If this were to happen, it’d signify a potentially tectonic shift to global monetary policy.
“The Global South, tiring of wonky and inconstant dollar policies, may be truly thinking about dumping dollars for BTC,” Grant explained, clarifying, “That’s a reserve manager decision, not a spec/leverage position.”
Increased institutional adoption strengthens the idea that Bitcoin now serves as a way to reduce risk against issues pertinent to financial systems, like inflation or currency devaluation.
“The proliferation of SMLR, 21Cap, and many others, including NVDA deciding they need to derisk their balance sheets by rerisking on BTC—even as it approaches the top decile of all-time prices,” Grant pointed to as evidence.
Simply put, even large institutions are choosing to take on the risk of Bitcoin’s price fluctuations as a potential offset to other, potentially larger financial risks.
Despite the excitement surrounding Bitcoin’s approach to $100,000, the true anticipation centers on its continuing development as an increasingly permanent component of the financial system.
Ethereum price eyes 30% gains in May as historical trends signal that it is one of the best months for the largest altcoin. Meanwhile, whales are actively accumulating ETH, amid renewed optimism that a new proposal will increase network throughput to achieve 2,000 TPS, and possibly restore Ethereum’s dominance among layer one networks.
ETH value today stands at $1,801 with a modest 0.9% gain in 24 hours. Buyers are attempting to turn the $1,800 resistance into support, and if they are successful, it could spark further gains.
Ethereum Price Targets 30% Gains in May as Whales Accumulate
Data from Coinglass shows that May is the best month for Ethereum price, with returns averaging around 30%. If history rhymes and Ethereum follows this trend in the coming months, it could surge from the current price of $1,800 to hit $2,300.
Ethereum Monthly Returns
Whales appear to be readying themselves for a potential upswing, with data from santiment showing that these large traders have purchased millions of Ethereum tokens in the last 24 hours. During this period, the addresses of traders holding between 1,000 and 10,000 ETH increased their holdings by 10M tokens, equivalent to around $18 billion at the current Ethereum price.
ETH Whale Activity
Whales are often known for buying the dip and selling at the top. Therefore, if these traders are buying now, it might signal that the Ethereum price is eyeing gains in the near term.
New Proposal Could Push Ethereum TPS to 2,000
Besides historical data and whale activity, a new Ethereum proposal might be another key driver for Ethereum price gains. The EIP 9698 proposal seeks to increase the Ethereum gas limit by 100x in the next four years, which might be a bullish catalyst for this altcoin.
According to popular analyst fabda.eth, this proposal will have a bullish impact on Ethereum scalability, noting that the network TPS may reach 2,000, while the total transactions will hit 6,000. If this happens, Ethereum could achieve scalability and rival Solana to attract dApp activity, which will bolster demand and support a bullish Ethereum price prediction.
Ethereum Price Analysis Amid Bullish Breakout
Ethereum price recently broke out of a descending parallel channel on the daily chart, which is often a sign that the altcoin has overcome the recent downtrend, and it is eyeing an upward trend. This breakout is also confirmed by the AO bars that have crossed above the zero line, suggesting that the bullish momentum is growing strong.
The RSI is tipping north, and it has crossed above 50, which is also an indication that bulls are in control and a rally is likely. If ETH can overcome the resistance at $2,025, its next target price is $2,700 and eventually $3,500.
ETH/USD: 1-day Chart
To sum up, Ethereum price is flashing several bullish signals, including whale accumulation and an ongoing network proposal to bolster network scalability. As these bullish factors align, traders should watch out for a rally of around 30%, which will match the average returns that ETH often sees in May.
Onyxcoin (XCN) has jumped 20% this week, marking a double-digit rally that has caught the attention of institutional investors.
As the altcoin’s price climbs, technical analysis reveals a rise in accumulation from large investors, often called “smart money,” signaling increased optimism about the token’s short-term price growth.
Institutional Confidence in XCN Grows
The surge in institutional interest is evident in XCN’s climbing Smart Money Index (SMI). As the token’s price rallied over the past week, its SMI has also climbed and currently stands at 0.91.
The SMI indicator tracks the trading activity of institutional investors, often considered the “smart money.” It analyzes intraday price movements, focusing on the first and last trading hours.
When the SMI rises alongside an asset’s price, major investors are accumulating positions, indicating confidence in the asset’s upward trend. This alignment between XCN’s SMI and its price rally is a bullish signal, reflecting strong market sentiment and the potential for a continued price increase.
Moreover, readings from XCN’s Moving Average Convergence Divergence (MACD) indicator support this bullish outlook. At press time, the token’s MACD line (blue) rests above the signal line (orange).
This crossover is typically interpreted as a bullish signal, suggesting upward momentum is gaining strength. It indicates that XCN’s recent buying pressure is outpacing historical averages, which could lead to continued price gains.
XCN Bulls Hold the Line
On the daily chart, the XCN token rests solidly above its 20-day exponential moving average (EMA). This key moving average forms dynamic support below the token’s price at $0.017.
An asset’s 20-day EMA measures an asset’s average price over the past 20 trading days, giving weight to recent prices. When an asset’s price trades above this indicator, the bulls have market control as buying pressure outweighs selloffs.
If this trend persists for XCN, its price could break above the resistance at $0.023 and climb toward $0.028. Should the bulls flip this level into a support floor, XCN could reclaim $0.033.
However, a surge in profit-taking activity will invalidate this bullish projection. In that scenario, the XCN token value could plunge below its 20-day EMA at $0.017 and fall toward $0.0075.
