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BitMine staked over 1.53 million ETH, accounting for nearly 4% of all Ethereum staked, while Bitcoin spot ETFs attracted over $750 million in a single day.
Bitcoin’s breakout above $96,000 triggered over $500 million in liquidations, weakened BTC dominance, and fueled a broader altcoin rally.
Regulatory pressure increased globally, with JPMorgan warning against yield-bearing stablecoins and France flagging 90 crypto firms ahead of the MiCA compliance deadline.
The crypto market witnessed developments in institutional participation, regulatory scrutiny, and renewed price momentum across major assets. From record Ethereum staking by corporate treasuries to Bitcoin’s breakout above key resistance levels.
BitMine Immersion Technologies further staked 186,560 ETH worth around $625 million, raising the total of its staked assets to 1.53 million ETH, worth around $5.1 billion.
This accounts for almost 4% of the entire Ether staked on the Ethereum Beacon Chain currently, which has 36 million ETH in total.
BitMine has more than 4.1 million ETH, meaning roughly 37% of its Ether reserves are now staked. The action was taken after the company had just days before reached the 1 million ETH staking milestone.
The surge comes as Ethereum’s validator entry queue climbed to 2.3 million ETH, its highest level since August 2023.
Also Read: Bank of Italy Warns ETH Death Spiral Could Freeze $800 Billion in Assets
JPMorgan Chase, in its recent earnings call, issued a warning against yield-bearing stablecoins, claiming that the introduction of such products may lead to the re-establishment of core banking functions without suitable control.
The financial institution believed that interest-bearing stablecoins and deposits are quite similar, but the former ones lack the three main safety features: capital requirements, liquidity buffers, and supervision.
Executives warned this could lead to a parallel, lightly regulated banking system, increasing systemic risks.
A draft update to US digital asset legislation proposes banning interest paid solely for holding stablecoins, while still allowing rewards tied to active participation.
Zcash is showing early signs of recovery after a sharp 30% decline in late December. On-chain data indicates that whale wallets holding over $1 million in crypto assets increased their ZEC holdings by nearly 13% over the past week.
ZEC has successfully reclaimed the $403 support level and is currently trading around $421, an increase of about 13% in three days.
Technical indicators have shown a positive trend with the MACD almost reaching a bullish cross and the Parabolic SAR changing to a positive signal.
If ZEC breaks the resistance at $443, it could reach $500, while a failure to hold the $403 level would weaken the upward structure.
France’s financial regulator has flagged 90 crypto companies operating without a MiCA license ahead of the June 30 transition deadline.
Around 40% have said they do not plan to apply, while 30% have not responded to regulatory outreach.
Companies that fail to comply will be required to cease operations by July.
The move highlights growing enforcement pressure across the EU as regulators prepare to tighten oversight under the MiCA framework.
According to SoSoValue, the Bitcoin spot ETF saw a total net inflow of $753.73 million yesterday.
Fidelity's ETF FBTC saw the highest net inflow of $351.36 million, and the total historical net inflow of FBTC currently stands at $12.19 billion.
Bitwise's ETF BITB saw $159.42 million in net inflows.
The total net asset value of Bitcoin Spot ETFs is $123 billion, with an ETF net asset ratio of 6.52%.
Also Read: BTC Gains Strategic Relevance Beyond Price During Venezuela Shock
Bitcoin broke past $96,000 for the first time in more than two months. The breakout above the key $94,500 resistance level sparked significant liquidations in futures markets, with more than $500 million worth of short positions wiped out.
Bitcoin’s futures open interest fell from $31.5 billion to around $30.6 billion, suggesting aggressive short-covering.
Analysts now see $94,500 as a critical support, with the resistance near $99,000, a level that acted as both support and resistance throughout 2025.
A notable trend accompanying Bitcoin’s rally has been the weakening of Bitcoin dominance, which slid to 58.6% from 59.3%, as altcoins outperformed during the breakout.
1. Why did Bitcoin surge above $96,000 today?
Bitcoin broke above the key $94,500 resistance level, triggering large-scale short liquidations and aggressive short covering in futures markets, pushing prices to a two-month high.
2. Why is BitMine’s Ethereum staking important?
BitMine now controls nearly 4% of all staked ETH, highlighting growing institutional participation in Ethereum’s security and yield ecosystem.
3. What does JPMorgan’s warning on stablecoins mean?
JPMorgan cautioned that interest-bearing stablecoins could mimic bank deposits without regulatory safeguards, raising systemic risk concerns and influencing upcoming legislation.
4. Why are regulators in France flagging crypto companies?
France is enforcing the EU’s MiCA framework, warning unlicensed crypto firms they must comply or shut down operations by July 2026.
5. What do the ETF inflows signal for Bitcoin’s outlook?
Strong ETF inflows suggest sustained institutional demand, reinforcing Bitcoin’s bullish momentum and supporting higher price levels if key support holds.
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