Daily Market BriefCrypto & Web3

Bitcoin Slides as Institutional Buyers Eye Discounts

BTC trades around $62,600 while Coinbase reports family offices and sovereign funds remain active. Strategy continues accumulating despite market pressure.

Money365.Market AI
3 min read
Market MoodCautious
Sentiment-15Mixed

Key DriverBitcoin weakness to $60,000 draws institutional buying interest while Strategy faces pressure on leveraged positions

Today in 30 Seconds

  • BTC traded at $62,642.55, down 1.04%; ETH fell 1.74% to $1,662.25
  • Coinbase exec: family offices and sovereign funds buying the dip
  • Strategy resumed BTC purchases despite $10.7B unrealized losses

Top Movers

$COIN▲ +5.8%

Coinbase Global

Bitcoin reclaimed $63,000 level

All Briefs

Bitcoin & Ethereum

Bearish

Bitcoin

$62,642.55-1.04%

Ethereum

$1,662.25-1.74%

BTC May Performance

-3.8%-3.8%

ETH May Performance

-11.0%-11.0%
$BTC$ETH$XRP$SOL$DOGE

Bitcoin ($BTC) traded at $62,642.55, down 1.04%, while Ethereum ($ETH) declined 1.74% to $1,662.25. $BTC wobbled between $62,000 and $64,000, with a brief dip below $60,000 earlier in the period. $XRP fell 0.49% to $1.15, Solana ($SOL) dropped 1.37% to $65.52, and Dogecoin ($DOGE) declined 1.37% to $0.08489. In May, $BTC lost 3.8% while $ETH dropped 11.0%, underperforming the Nasdaq 100's 10.5% gain and the S&P 500's 5.1% advance. Bitcoin later reclaimed the $63,000 level, triggering a rebound in crypto-related equities.

Institutional Activity

Bullish

Bitcoin level

$60,000
$COIN$BTC

John D'Agostino, Head of Institutional Strategy at Coinbase Global ($COIN), said that institutional investors who have spent considerable time studying Bitcoin are not dismayed by the cryptocurrency's price decline. D'Agostino told CNBC that family offices newly established in the UAE and government sovereign funds are happy to purchase $BTC at a discount. The comments came as $BTC struggled after briefly dipping below $60,000, a development D'Agostino characterized as an opportunity rather than a concern for institutions with conviction. The institutional buying appetite persists despite current market weakness, according to the $COIN executive.

Crypto Stocks

Neutral

COIN

$151.58+5.8%

MSTR unrealized losses

$10.7B

MSTR + BitMine losses

$23.1B
$COIN$MSTR$CLSK

Coinbase ($COIN) shares jumped 5.8% as the cryptocurrency market rebounded, though the stock has shed 44.7% of its value over the past six months, falling to $151.58 per share. Strategy ($MSTR) resumed buying Bitcoin, adding to a stockpile that was $10.7 billion underwater as of Monday morning after $BTC hit its lowest price since October 2024. $MSTR is now paying dividends twice a month on its preferred stock. DWF Labs co-founder warned that $MSTR and BitMine, holding a combined $23.1B in unrealized losses, could trigger a historic crypto crash. CleanSpark ($CLSK) shares surged after Chardan Capital raised its target price on the Bitcoin miner.

DeFi & Payments

Neutral

Polymarket payments

$350,000
$PYPL

SoFi Technologies attracted institutional buying tied to its new stablecoin, reshaping the risk-reward view on the fintech lender. Polymarket, the decentralized prediction market, allegedly paid controversial influencers $350,000 using a personal PayPal ($PYPL) account belonging to its chief marketing officer. Nick Shirley, Riley Gaines and Brian Krassenstein were among more than 800 people who allegedly received money from Polymarket's chief marketing officer through the personal $PYPL account, according to reports. The payments raise questions about the platform's marketing practices and compliance procedures.

Mining Sector

Bullish

NODE May return

+16.5%+16.5%

NODE starting price

$40.40

NODE ending price

$47.07

S&P 500 May

+5.1%+5.1%

Nasdaq 100 May

+10.5%+10.5%
$RIOT$CLSK

NODE returned 16.5% in May, with shares climbing from $40.40 to $47.07, topping the S&P 500's 5.1% gain, the Nasdaq 100's 10.5% advance, Bitcoin's 3.8% decline, and Ethereum's 11.0% drop. Riot Platforms ($RIOT), which is associated with the NODE commentary, outperformed both major crypto assets during a challenging month for digital assets. CleanSpark ($CLSK) shares jumped after Chardan Capital raised its price target, giving investors a reason to buy into one of the market's higher-beta names. The mining sector showed resilience amid broader crypto market weakness, with select operators outperforming underlying assets.

Risk Flags

AlertStrategy holds $10.7B in unrealized BTC losses; DWF Labs warns of potential crash risk
WatchCoinbase stock down 44.7% over six months despite institutional buying commentary

Important Disclaimer — Not Investment Advice

Disclaimer: This article is provided by Money365.Market for general information and educational purposes only. It is not financial advice, a personal recommendation, or an inducement to buy, sell, or invest in any security or product. Capital is at risk and the value of investments can go down as well as up; past performance does not indicate future results. You should seek independent advice from an FCA-authorised adviser before making any financial decision.

Nothing here is an offer or a solicitation to buy or sell anything, and reading it creates no advisory or fiduciary relationship between you and Money365.Market. Any decision you take is your own.

  • You can lose money — including all of it. Individual companies can and do fail, and some of the assets discussed can fall to zero. Only commit money you can afford to lose, and never borrow to invest on the strength of anything you read here.
  • Cryptoassets are high risk and largely unregulated. Do not invest unless you are prepared to lose all the money you put in. Prices are extremely volatile, and you should not expect protection from the UK Financial Services Compensation Scheme or the Financial Ombudsman Service if something goes wrong.
  • Forecasts are opinion, not fact. Any valuation model, scenario, fair-value range, estimate or other forward-looking statement is illustrative, rests on assumptions that may prove wrong, and is never a price target, a forecast of actual outcomes, or a promise of any return.
  • Published at a point in time. Figures were believed accurate on the publication or last-updated date shown above and are not maintained afterwards; we are under no obligation to update them. Market and company data comes from third-party sources and is provided without warranty of accuracy, completeness or timeliness.
  • Automated content. This brief was compiled by an automated pipeline from validated news and market-data sources and passed through editorial and compliance checks. Automated content can still contain errors — verify anything you intend to rely on.
  • We are not regulated. Money365.Market is not authorised or regulated by the UK Financial Conduct Authority, is not registered with the U.S. Securities and Exchange Commission or FINRA as an investment adviser or broker-dealer, and is not a tax adviser. We hold no licence to give personal financial advice and do not do so.
  • Interests and independence. Money365.Market is not affiliated with, endorsed by or sponsored by any company, fund, exchange or platform mentioned, and is not paid to feature them. The author may hold positions in securities or assets discussed. The site earns revenue from advertising, subscriptions and, where labelled, affiliate links; this does not influence what we publish.
  • Your jurisdiction matters. Tax treatment, contribution limits, product availability and investor protections differ by country and can change. Speak to a qualified tax professional for tax matters, and to a locally licensed adviser if you are outside the UK.

Full terms: Disclaimer · Terms of Service · Privacy Policy

Back to All Briefs