Bitcoin hovered near the $70,000 mark on renewed risk appetite after roughly $1 billion in net institutional inflows, with the price edging toward the key level around $69,000. Ethereum also rose, helping lift the broader crypto market as total capitalization climbed about 4.3% to roughly $2.46 trillion.
MicroStrategy added 3,015 BTC to its reserves, lifting its total holdings to 720,737 BTC — about 3.4% of the Bitcoin supply. Circle’s USDC surged 15.22% to $96.14 as USDC’s share of global stablecoin trading expanded, now accounting for more than half of the volume. The rally also supported major crypto equities: Coinbase rose 5.34% to $185.24, Robinhood gained 3.86% to $78.78, and mining-related stocks like BMNR advanced about 7.5% with the Ethereum-treasury segment Quantum up roughly 9.6%.
Meanwhile, concerns persisted over capital outflows from Nobitex, Iran’s largest crypto exchange, amounting to around $3 million amid broader geopolitical tensions. Market participants noted that whether Bitcoin can decisively break the $70,000 resistance would likely set the course for further upside in related stocks. Pantera Capital warned that Bitcoin is about 50% undervalued, suggesting a rising cycle if the $70,000 threshold is cleared. A notable portion of the rally appeared to be driven by short-covering rather than new buying.
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