Bitcoin price is struggling to settle above $113,500 and $114,000. BTC is now consolidating and might start another decline below $110,000.

• Bitcoin started a fresh decline after it failed to clear the $114,000 resistance level.
• The price is trading below $113,000 and the 100 hourly Simple moving average.
• There is a bearish trend line forming with resistance at $112,000 on the hourly chart of the BTC/USD pair (data feed from Kraken).
• The pair might continue to move down if it trades below the $110,200 zone.

Bitcoin Price Faces Hurdles

Bitcoin price started a recovery wave above the $112,500 resistance level. BTC recovered above the $112,800 and $113,000 resistance levels.

The price climbed above the 50% Fib retracement level of the recent decline from the $115,975 swing high to the $110,000 low. The bulls even pushed the price above the $113,500 resistance level. However, there are many hurdles on the upside.

Bitcoin is now trading below $113,000 and the 100 hourly Simple moving average. Besides, there is a bearish trend line forming with resistance at $112,000 on the hourly chart of the BTC/USD pair.

Immediate resistance on the upside is near the $112,000 level. The first key resistance is near the $113,000 level. The next resistance could be $113,700 and the 61.8% Fib retracement level of the recent decline from the $115,975 swing high to the $110,000 low.

A close above the $113,700 resistance might send the price further higher. In the stated case, the price could rise and test the $114,500 resistance. Any more gains might send the price toward the $115,250 level. The next barrier for the bulls could be $115,500.

Another Decline In BTC?

If Bitcoin fails to rise above the $113,000 resistance zone, it could start a fresh decline. Immediate support is near the $110,200 level. The first major support is near the $110,000 level.

The next support is now near the $109,500 zone. Any more losses might send the price toward the $108,500 support in the near term. The main support sits at $107,200, below which BTC might struggle to recover in the short term.

Technical indicators:

Hourly MACD – The MACD is now gaining pace in the bearish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level.

Major Support Levels – $110,200, followed by $110,000.

Major Resistance Levels – $112,000 and $113,000.

Bitcoin price is struggling to recover above the $116,200 zone. BTC is now consolidating and might decline further below the $112,500 zone.

• Bitcoin started a fresh decline from the $115,500 zone.
• The price is trading below $114,000 and the 100 hourly Simple moving average.
• There is a bearish trend line forming with resistance at $114,400 on the hourly chart of the BTC/USD pair (data feed from Kraken).
• The pair might start another increase if it clears the $115,500 resistance zone.

Bitcoin Price Faces Resistance

Bitcoin price found support near the $112,000 zone and started a recovery wave. BTC was able to climb above the $113,200 and $114,000 resistance levels.

The price climbed above the 23.6% Fib retracement level of the downward move from the $118,918 swing high to the $112,000 low. However, the bears were active near the $115,500 resistance and the price struggled to continue higher.

The 50% Fib retracement level of the downward move from the $118,918 swing high to the $112,000 low acted as a resistance. Bitcoin is now trading below $114,000 and the 100 hourly Simple moving average. There is also a bearish trend line forming with resistance at $114,400 on the hourly chart of the BTC/USD pair.

Immediate resistance on the upside is near the $114,000 level. The first key resistance is near the $115,000 level. The next resistance could be $115,500. A close above the $115,500 resistance might send the price further higher. In the stated case, the price could rise and test the $116,500 resistance level. Any more gains might send the price toward the $118,000 level. The main target could be $120,000.

Another Decline In BTC?

If Bitcoin fails to rise above the $115,000 resistance zone, it could start another decline. Immediate support is near the $113,200 level. The first major support is near the $112,500 level.

The next support is now near the $112,000 zone. Any more losses might send the price toward the $110,500 support in the near term. The main support sits at $108,500, below which BTC might continue to move down.

Technical indicators:

Hourly MACD – The MACD is now gaining pace in the bearish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level.

Major Support Levels – $112,600, followed by $112,000.

Major Resistance Levels – $115,000 and $115,500.

Metaplanet has again beefed up its Bitcoin holdings. According to the Tokyo-listed investment firm, it bought 1,111 BTC on Monday for about $118.2 million.

The average price paid was roughly $106,408 per coin. Bitcoin has fallen more than 5% over the last week, trading just above $101,000.

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Performance Metrics Climb Higher

Metaplanet’s own numbers show a quarter-to-date BTC yield of 108%, up from 96% in Q1 and a hefty 310% in Q4 2024. That metric tracks Bitcoin per fully diluted share, so it puts the firm’s strategy under a clear spotlight.

Based on reports, the company gained 4,367 BTC valued at $451 million in this period, using prices from Bitflyer.

*Metaplanet Acquires Additional 1,111 $BTC, Total Holdings Reach 11,111 BTC* pic.twitter.com/7ceEeSh1X4

— Metaplanet Inc. (@Metaplanet_JP) June 23, 2025

Balance Sheet Swells to 11,111 BTC

With the new purchase, Metaplanet’s total stash now stands at 11,111 BTC, worth just over $1.07 billion. Its cost basis for those coins sits at about $95,869 each.

Metaplanet’s shares dipped 3.5% on the day of the announcement, a sign that investors may be worried about how the firm is funding its buy-ups.

Source: Metaplanet

Funding Through Bonds And Shares

Based on reports, the company has raised cash via zero-coupon bonds and equity rights since January. It issued over 210 million shares under a program it calls the “210 Million Plan.”

Evo Fund has snapped up many of those bonds and rights. Between May and June 2025, Metaplanet pulled in over $300 million, earmarking every dollar for more Bitcoin.

Ambitious Target Of 210,000 BTC

Metaplanet has set a goal to hold 210,000 BTC by the end of 2027. That is 10 times its current pile. To reach that number, it will need to keep tapping the capital markets—and it plans to.

The firm even created a dedicated Bitcoin Treasury Operations arm in December 2024, moving away from its hotel management roots.

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Dilution And Risk For Shareholders

Metaplanet’s fully diluted share count rose to close to 760 million as of June 23. That puts its Bitcoin per 1,000 shares at 0.0146 BTC. More bonds and shares mean more dilution for existing investors. If Bitcoin’s price slips, the cost of raising money could climb, eating into any gains from the crypto itself.

Metaplanet’s approach mirrors what some other big holders have done. It’s a bold stance. If Bitcoin holds up or heads higher, the firm could see big returns. But it will need to balance fresh capital raises against the risk of pushing down its own stock.

For now, Metaplanet shows no sign of slowing down its Bitcoin buying. The only real question is how far this strategy can run before the bills come due.

Featured image from Imagen, chart from TradingView

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Recent market dynamics have again brought Ethereum’s supply into the spotlight and reiterated concerns about its inflationary trend. Earlier this year, Ethereum reached a significant milestone in its circulating supply, surpassing 120 million ETH and the number continues to grow.

Unlike other prominent cryptocurrencies such as Bitcoin and Cardano, which have fixed supply caps, Ethereum was designed with an unlimited supply of tokens. This fundamental difference makes Ethereum an inherently inflationary asset, one that has a continuously increasing supply.

On-chain data from Ultrasound.money has shed light on the growing supply of ETH in recent months amidst notable price fluctuations for the cryptocurrency. The most recent data indicates that the total supply of Ethereum has now reached approximately 120.28 million ETH.

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Over the past seven days alone, 16,039 new ETH tokens have been issued. This pace of issuance corresponds to an annual inflation rate of 0.70%. Interestingly, this data shows that 243,886 ETH has been created in the past four months since the Dencan upgrade in March.

What Does This Mean For Ethereum?

Ethereum’s inflationary mechanism is mostly counteracted by burning tokens. This burn mechanism was introduced as part of Ethereum’s London Hard Fork in order to introduce a deflationary mechanism to Ethereum.  This mechanism aims to reduce the overall supply of ETH by burning a portion of the transaction fees, thereby introducing a deflationary counterbalance. 

However, data from Ultrasound.money shows the burns are currently lagging behind issuance, and Ethereum is now on an inflationary trajectory. Particularly, 2,028 ETH were burned in the past seven days, compared to 18,075 ETH issued in the same timeframe. Such a sustained uptrend in supply growth could cause downward pressure on the price of ETH in the case of a decline in demand.

At the time of writing, Ethereum is trading at $2,615 with no significant gains or losses in a 24-hour timeframe. Looking at a broader seven-day price action shows Ethereum has largely traded within a range of $2,750 on the upper end and $2,530 on the lower end. The latest price action saw Ethereum rebounding at $2,540 in the past 12 hours. If this continues, Ethereum could possibly push up and retest $2,750 in the next few hours.

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According to the latest figures from Greeks.live, approximately 184,000 ETH options are set to expire today. These options represent a substantial nominal value of $470 million and are characterized by a put-call ratio of 0.8 and a maximum pain point of $2,650. This high put-call ratio value means market participants are currently buying more put options than call options, which in turn suggests a bearish sentiment. 

Pictured image from Dall-E, chart from Tradingview.com