Bitcoin Consolidates After All Time High Break
Since last week, Bitcoin has broken through its all-time high, rallying to $111,000. Momentum had been building for weeks, driven by relentless institutional demand, Bitcoin ETFs posting strong inflows, and firms like Strategy accumulating millions in BTC weekly. The setup was clear, and the market delivered.
Volatility did hit over the weekend after Donald Trump announced a surprise 50% tariff on the EU, calling them “difficult to deal with.” Bitcoin briefly dropped to $106,000 on the news. However, sentiment recovered quickly after Trump agreed to postpone the tariffs until July, pushing BTC back up to $110,000.
In other bullish developments, Circle, the issuer of USDC, has filed for an IPO on the New York Stock Exchange. This move signals growing confidence in stablecoins and offers another gateway for traditional investors to tap into the expanding digital asset economy.
Weekly Price Update
UpTrade Alpha Does +200% Gain
What a month it’s been over in UpTrade Alpha, especially with Hyperliquid ($HYPE). Members know that we flagged its breakout back in April at $13. This week, it rallied to $39, a 200% move!
HYPE was showing dominant on-chain metrics, with its revenue ranking it among the top protocols in crypto. Its 97% token buyback model, paired with a rapidly growing perpetuals trading product that now controls 65% of all DEX volume and is closing in on major players like Binance, made it a clear high conviction play for us
Earlier this week, we also highlighted in UpTrade Alpha Virtuals Protocol, which was showing many of the same signs we saw in Hyperliquid before its breakout. Since then, it’s been the #1 performing coin across the top 200!
If you missed Hyperliquid, don’t let the next opportunity slip by.
We’ve already outlined the next potential setup for members. Join UpTrade Alpha to access the full breakdown and stay ahead of the curve
Cetus Protocol Exploit - SUI Ecosystem
Cetus, the top DEX on the Sui blockchain, was exploited on 22 May, with approximately $223 million drained from its liquidity pools due to a smart contract vulnerability. Sui validators managed to freeze $162 million of the stolen funds on-chain, limiting the damage. However, the move sparked a broader debate about decentralisation, as the ability to freeze assets raised concerns over censorship resistance.
Today, the Sui Foundation has issued a secured loan to Cetus to ensure all users are fully reimbursed, while the frozen funds remain locked pending a community vote.
Importantly, this was not a failure of the Sui blockchain itself, but of a third party application built on top of it. Similar incidents have shaken other ecosystems in the past, and many have bounced back stronger. Sui remains a technically impressive and rapidly growing chain, and for long term investors, this may ultimately prove to be a stress test that strengthens its position.
Bitcoin Conference Las Vegas 2025
The largest Bitcoin conference has just kicked off in Las Vegas, drawing over 30,000 attendees and a heavyweight lineup of speakers, including JD Vance, Ross Ulbricht, Eric Trump, Donald Trump Jr., Michael Saylor, and Senator Cynthia Lummis.
Day 1 has already delivered major headlines. Senator Lummis spoke about the The Bitcoin Act, a proposal that includes the purchase of 1 million Bitcoin for the US, which will soon be introduced to the Senate floor, with backing from Donald Trump. Meanwhile, BlackRock’s Managing Director made bullish comments by stating, “Bitcoin has much higher upside than gold,” very encouraging from the largest fund manager in the world.
Weekly Narrative Performance
AI continues to lead the market, gaining 7% this week and extending its strong two month run. AI agent tokens like Virtuals are seeing renewed interest and strong performance. Ethereum also had another solid week, up 3.1%, marking back to back positive weeks. As the usual first mover, ETH is now leading activity in sectors like DeFi (+1.6%) and Layer 2s (+2.0%), which often follow its momentum.
We’ve mentioned before that when ETH starts to move, capital tends to rotate into utility and DeFi tokens, given Ethereum’s central role in powering dApps. Meanwhile, GameFi (-3.5%) and RWA (-3.2%) continue to lag, with RWA still struggling to regain relevance after the Mantra crash. NFT apps, memecoins, and DePIN also posted losses, signalling a focus on utility plays this week.
Bitcoin Scarcity Narrative Grows Stronger
Recent headlines about scientists synthetically creating gold in a lab are stirring debate among investors, drawing clear parallels to the rise of lab grown diamonds, which disrupted pricing in the natural diamond market.
Reports that researchers briefly turned lead into gold atoms, though too unstable to be collected have reignited questions around gold’s long held scarcity narrative. While lab grown gold remains extremely expensive and commercially unviable today, the mere possibility challenges the perception of gold as a permanently scarce asset.
For crypto investors, this only reinforces the strength of Bitcoin’s design. With a hard cap of 21 million and a transparent, verifiable supply, Bitcoin’s scarcity isn’t vulnerable to scientific breakthroughs or industrial replication. This is exactly why Bitcoin continues to earn its title as digital gold, a scarce, secure store of value in a world where even the rarest elements may no longer be safe from imitation.
Uptrade New Token Listings
Game by Virtuals - $GAME
THORChain - $RUNE
peaq - $PEAQ
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