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By Omkar Godbole (All times ET unless indicated otherwise)
Big weekend buzz: Bitcoin BTC$124,341.98 shot up to record highs, and its dominance rate ticked up too, signaling fresh bias toward the top cryptocurrency.
But the headline wasn’t just about crypto — Japan’s new prime minister openly backing “Abenomics” was an even bigger deal. That means the world’s three largest economies — the U.S., China, and Japan — are now all leaning toward easing policies. That’s a strong tailwind for asset prices across the board.
If that’s not enough to stir excitement, on-chain data shows whales are slowing their coin spending. As Glassnode points out, “Mid-sized #BTC holders are accumulating strongly, whale distribution has moderated, and smaller entities remain neutral. This points to fresh structural demand emerging despite continued large holder selling.”
Put all that together, and it’s a pretty strong rebuttal to fears that bitcoin is on the brink of a year-long bear market, consistent with the so-called four year halving cycles.
Keep in mind, previous bear markets were sparked by counterparty risks. Is there one looming now? I’ll leave that for you to ponder.
Switching gears to altcoins, Timothy Misir, head of research at BRN, noted that “ether treasuries now own more circulating supply of the token versus bitcoin treasuries. The market is maturing and capital rotation is deliberate.”
On the investment front, digital asset products recorded a record $5.95 billion of inflows last week, according to CoinShares data — that’s the biggest weekly inflow ever.
Looking at individual tokens, Tron’s TRX aimed to break above its 50-day SMA, building on Wednesday’s rally, boosted by activity on the newly launched SunPerp platform. Meanwhile, Lido’s LDO token, which surged 7% late last week, lost steam over the weekend and slid 3% in the last 24 hours. Notably, on Friday, VanEck registered a statutory trust for an ETF tied to Lido Staked Ethereum.
Meanwhile, Tokenomics issued a warning about some major single unlocks ahead — over $5 million each for tokens like APT, ATH, LINEA, BABAY, BB, HOME, IO, and MOVE — which traders may want to watch closely.
In the traditional markets, the Japanese yen slipped against the U.S. dollar even as Japan’s Nikkei index hit record highs. Meanwhile, S&P 500 futures inched up 0.12% despite the ongoing U.S. government shutdown.
Stay alert!
For a more comprehensive list of events this week, see CoinDesk’s “Crypto Week Ahead”.
For a more comprehensive list of events this week, see CoinDesk’s “Crypto Week Ahead”.
For a more comprehensive list of events this week, see CoinDesk’s “Crypto Week Ahead”.
