{"id":54020,"date":"2025-06-11T03:22:54","date_gmt":"2025-06-11T03:22:54","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/bitcoin-reclaims-110k-defi-tokens-surge\/"},"modified":"2025-06-11T03:22:54","modified_gmt":"2025-06-11T03:22:54","slug":"bitcoin-reclaims-110k-defi-tokens-surge","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/bitcoin-reclaims-110k-defi-tokens-surge\/","title":{"rendered":"Bitcoin reclaims $110K; DeFi tokens surge"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Crypto News, Altcoin News and Cryptocurrency Comparison )<\/b><br \/>\n<\/p>\n<div data-site=\"CoinJournal\">\n<div class=\"-mt-16  mb-8  lg:-mt-20  rounded-md  shadow-md\">\n<div class=\"relative  z-10  post-article-image  rounded  overflow-hidden\" data-site=\"CoinJournal\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2025\/04\/image-17-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2025\/04\/image-17-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2025\/04\/image-17-smartcrop-750x375.png\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2025\/04\/image-17-smartcrop-363x181.png\" type=\"image\/jpeg\"\/>\n<\/picture>                            <\/div>\n<\/p><\/div>\n<ul>\n<li>Bitcoin (BTC) traded above $110,000 for a second day, up over 1% in 24 hours, buoyed by altcoin rally.<\/li>\n<li>DeFi tokens UNI (+24%) and AAVE (+13%) surged following optimistic comments from SEC Chair Paul Atkins.<\/li>\n<li>Despite price gains, market sentiment remains cautious, with low funding rates (1.3%) typically seen at bottoms.<\/li>\n<\/ul>\n<p><span class=\"ng-star-inserted\">Bitcoin (BTC) revisited the $110,000 level for the second day in a row on Tuesday, seemingly pulled higher by even more substantial gains among various altcoins. <\/span><\/p>\n<p class=\"ng-star-inserted\"><span class=\"ng-star-inserted\">However, despite this upward movement, a prevailing sense of caution and skepticism among traders suggests that the sustainability of this breakout remains in question.<\/span><\/p>\n<p class=\"ng-star-inserted\"><span class=\"ng-star-inserted\">Bitcoin was trading just above $110,000 shortly after the close of U.S. stock markets on Tuesday, marking a gain of over 1% in the preceding 24 hours. <\/span><\/p>\n<p class=\"ng-star-inserted\"><span class=\"ng-star-inserted\">The broader cryptocurrency market, as measured by the CoinDesk 20 index\u2014which tracks the top 20 cryptocurrencies by market capitalization (excluding stablecoins, exchange coins, and memecoins)\u2014had risen by a more significant 3.3% over the same period. <\/span><\/p>\n<p class=\"ng-star-inserted\"><span class=\"ng-star-inserted\">This broader rally was largely attributed to strong performances from major altcoins such as Ether (ETH), Solana (SOL), and Chainlink (LINK), all of which posted gains in the 5%-7% range.<\/span><\/p>\n<p class=\"ng-star-inserted\"><span class=\"ng-star-inserted\">The most impressive performances of the day, however, came from decentralized finance (DeFi) tokens Uniswap (UNI) and Aave (AAVE). <\/span><\/p>\n<p class=\"ng-star-inserted\"><span class=\"ng-star-inserted\">These tokens soared by a remarkable 24% and 13%, respectively. <\/span><\/p>\n<p class=\"ng-star-inserted\"><span class=\"ng-star-inserted\">This surge was reportedly prompted by optimistic comments regarding DeFi made by Securities and Exchange Commission (SEC) Chair Paul Atkins on Monday, which appeared to inject fresh enthusiasm into the DeFi sector.<\/span><\/p>\n<p class=\"ng-star-inserted\"><span class=\"ng-star-inserted\">In contrast, the traditional equity markets linked to cryptocurrency showed a more subdued picture, with most crypto stocks trading flat on the day. <\/span><\/p>\n<p class=\"ng-star-inserted\"><span class=\"ng-star-inserted\">A notable exception was Semler Scientific (SMLR), a company aiming to emulate MicroStrategy\u2019s (MSTR) strategy of accumulating significant Bitcoin holdings. <\/span><\/p>\n<p class=\"ng-star-inserted\"><span class=\"ng-star-inserted\">Semler Scientific\u2019s shares fell another 10% on Tuesday, with the stock now trading for less than the value of the Bitcoin on its balance sheet, highlighting the risks associated with such strategies.<\/span><\/p>\n<h2 class=\"ng-star-inserted\"><span class=\"ng-star-inserted\">Defensive posturing despite proximity to highs<\/span><\/h2>\n<p class=\"ng-star-inserted\"><span class=\"ng-star-inserted\">Despite Bitcoin\u2019s recent gains and its proximity to previous all-time highs, positioning across cryptocurrency markets continues to reflect a largely defensive and cautious sentiment among traders.<\/span><\/p>\n<p class=\"ng-star-inserted\"><span class=\"ng-star-inserted\">\u201cFunding rates and other leverage proxies point toward a steadily cautious sentiment in the market,\u201d Vetle Lunde, head of research at K33 Research, pointed out in a Tuesday report. <\/span><\/p>\n<p class=\"ng-star-inserted\"><span class=\"ng-star-inserted\">\u201cThe broad risk appetite is remarkably weak, given that BTC is trading close to former all-time highs.\u201d <\/span><\/p>\n<p class=\"ng-star-inserted\"><span class=\"ng-star-inserted\">This observation suggests that traders are not fully convinced of the rally\u2019s strength and are hesitant to take on excessive risk.<\/span><\/p>\n<p class=\"ng-star-inserted\"><span class=\"ng-star-inserted\">Lunde further noted that Binance\u2019s BTC perpetual swaps posted negative funding rates on multiple days last week, with the average annualized funding rate now sitting at just 1.3%. <\/span><\/p>\n<p class=\"ng-star-inserted\"><span class=\"ng-star-inserted\">This level, he explained, is typically associated with local market bottoms rather than tops. <\/span><\/p>\n<p class=\"ng-star-inserted\"><span class=\"ng-star-inserted\">\u201cBitcoin does not usually peak in environments with negative funding rates,\u201d Lunde wrote, adding that past instances of such defensive positioning have more often preceded rallies than significant corrections.<\/span><\/p>\n<p class=\"ng-star-inserted\"><span class=\"ng-star-inserted\">Flows into leveraged Bitcoin ETFs paint a similar picture of cautious engagement. <\/span><\/p>\n<p class=\"ng-star-inserted\"><span class=\"ng-star-inserted\">The ProShares 2x Bitcoin ETF (BITX) currently holds exposure equivalent to 52,435 BTC, which is well below its December 2023 peak of 76,755 BTC. <\/span><\/p>\n<p class=\"ng-star-inserted\"><span class=\"ng-star-inserted\">Inflows into such products remain muted. <\/span><\/p>\n<p class=\"ng-star-inserted\"><span class=\"ng-star-inserted\">According to Lunde, this defensive positioning, paradoxically, leaves room for a potential \u201chealthy rally\u201d in BTC to develop, as it suggests the market is not overly leveraged or euphoric.<\/span><\/p>\n<h2 class=\"ng-star-inserted\"><span class=\"ng-star-inserted\">Skepticism greets potential breakout<\/span><\/h2>\n<p class=\"ng-star-inserted\"><span class=\"ng-star-inserted\">However, not all market watchers are convinced that the current price action signals the beginning of a sustainable upward trend. <\/span><\/p>\n<p class=\"ng-star-inserted\"><span class=\"ng-star-inserted\">Some analysts remain skeptical about the durability of any breakout above the $110,000 level.<\/span><\/p>\n<p class=\"ng-star-inserted\"><span class=\"ng-star-inserted\">\u201cIs this a true breakout that will continue? In my view, probably not,\u201d said Kirill Kretov, senior automation expert at CoinPanel. <\/span><\/p>\n<blockquote>\n<p class=\"ng-star-inserted\"><span class=\"ng-star-inserted\">More likely, it\u2019s part of the same volatility cycle where we see a rally now, followed by a sharp drop triggered by a negative announcement or some other narrative shift.<\/span><\/p>\n<\/blockquote>\n<p class=\"ng-star-inserted\"><span class=\"ng-star-inserted\">According to Kretov, the current market environment favors experienced traders who are adept at navigating volatility-driven market structures. <\/span><\/p>\n<p class=\"ng-star-inserted\"><span class=\"ng-star-inserted\">From a technical perspective, he identifies Bitcoin\u2019s next key support levels at $105,000 and $100,000. <\/span><\/p>\n<p class=\"ng-star-inserted\"><span class=\"ng-star-inserted\">These are zones that could be tested if selling pressure re-emerges and the current upward momentum falters. <\/span><\/p>\n<p class=\"ng-star-inserted\"><span class=\"ng-star-inserted\">The market now watches to see if Bitcoin can consolidate its gains and build a stronger foundation for a continued ascent, or if skepticism will be validated by a retreat from current levels.<\/span><\/p>\n<div class=\"ad-banner  container  pt-1\" data-partner=\"bitcoinpepe\">\n        <a href=\"https:\/\/bitcoinpepe.co\/en?utm_source=coinjournal&amp;utm_medium=banner&amp;utm_campaign=header\" target=\"_blank\" rel=\"nofollow sponsored noopener\"><br \/>\n            <img src=\"https:\/\/coinjournal.net\/wp-content\/themes\/c1-base\/dist\/img\/ad\/blockovate\/en-3.png\"\/><br \/>\n        <\/a>\n    <\/div>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this article<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Tags<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p><a href=\"https:\/\/coinjournal.net\/news\/bitcoin-tops-110k-for-2nd-day-altcoins-uni-aave-rally-on-sec-chair-comments\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Crypto News, Altcoin News and Cryptocurrency Comparison ) Bitcoin (BTC) traded above $110,000 for a second day, up over 1% in 24 hours, buoyed by altcoin rally. DeFi tokens UNI (+24%) and AAVE (+13%) surged following optimistic comments from SEC Chair Paul Atkins. Despite price gains, market sentiment remains [&hellip;]<\/p>\n","protected":false},"author":3947362378,"featured_media":54021,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/54020"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/3947362378"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=54020"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/54020\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/54021"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=54020"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=54020"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=54020"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}