BTC stable above $105K, ETH ETF inflows extend streak, stablecoin bill gains traction, and meme tokens spark excitement
1. Bitcoin Firms Gain as Corporate Adoption Continues
Crypto-related stocks rose on Monday as companies continue to stack Bitcoin on their balance sheets. According to Cointelegraph, key players like MicroStrategy, CleanSpark, and Hive Digital saw strong gains as Bitcoin held firm above the US$ 105,000 level.
MicroStrategy now holds over 214,400 BTC, and CleanSpark revealed it mined 417 BTC in May, a 16% increase from the previous month. Hive Digital, which plans to rebrand as Hive Blockchain Technologies, is also expanding its BTC reserves after reporting 119 BTC mined in May.
📌 Market takeaway: Bitcoin continues to be treated as a strategic treasury reserve by major firms, reinforcing institutional trust and long-term holding sentiment. This also mirrors continued bullishness in BTC mining equities and crypto-related stocks.
2. US Senate to Vote on Key Stablecoin Bill This Week
A bipartisan effort to regulate stablecoins is gaining momentum. As reported by The Block, the U.S. Senate is preparing to vote on a stablecoin framework that would introduce strict rules for issuers, including:
- Mandatory 1:1 backing with cash or U.S. Treasuries
- Monthly reserve audits
- Issuer registration requirements with U.S. authorities
This move marks the most advanced stage of any stablecoin regulation effort in Congress to date and could set the tone for global regulatory alignment.
📌 Market takeaway: If passed, the bill could lend legitimacy to regulated stablecoins (like USDC) while tightening scrutiny on algorithmic and offshore-backed tokens.
3. South Korea Proposes Stablecoin Licensing Regime
Meanwhile, South Korea is also advancing stablecoin oversight. According to The Block, the Financial Services Commission (FSC) has submitted a draft to regulate stablecoin issuance.
The proposal includes:
- A licensing framework for stablecoin issuers
- A prohibition on algorithmic models (such as Terra’s failed UST)
- Reserve custody with domestic financial institutions
- Mandatory disclosure of auditing and collateral data
This follows growing concern about unchecked stablecoin risks and echoes the sentiment seen in the U.S. legislative efforts.
Market takeaway: As Asia’s second-largest crypto market, Korea’s regulatory clarity could encourage institutional participation and boost the legitimacy of regional projects tied to fiat-backed digital assets.
4. Hive Digital Ramps Up Bitcoin Mining
Hive Digital Technologies is scaling operations despite halving pressure. In a Yahoo Finance interview, the firm said it mined 119 BTC in May and plans to increase output via new data centre deployments and enhanced cooling tech.
The company also hinted at an upcoming rebranding and a possible expansion into green energy BTC mining, which could attract ESG-focused investors.
Market takeaway: Miners are adapting quickly post-halving, focusing on efficiency and long-term sustainability to stay profitable in a tightened reward landscape.
5. Quick Look: BTC & ETH Market Levels
| Asset | Price (approx.) | 24H Move | Key Support | Key Resistance |
|---|---|---|---|---|
| Bitcoin (BTC) | US$ 105,800 | +1.2% | US$ 104,000 | US$ 108,500 |
| Ethereum (ETH) | US$ 5,890 | +1.6% | US$ 5,750 | US$ 6,050 |
Trading outlook: Bitcoin remains range-bound but well supported by corporate demand, while Ethereum continues to benefit from ETF inflows and ETH/BTC ratio strength.
Closing Thoughts
As institutional interest in Bitcoin remains high and stablecoin regulation begins to mature both in the U.S. and Asia, market fundamentals look increasingly solid. Ethereum also holds firm as ETF inflows extend, and engagement in crypto culture through platforms like Hamster Kombat continues to draw new retail users into the ecosystem.
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