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JPMorgan’s Dimon says he will allow clients to buy Bitcoin

by admin May 20, 2025

Jamie Dimon, the chief executive officer of JPMorgan, has said that the bank will allow its clients to buy Bitcoin.

JPMorgan CEO Jamie Dimon, a longtime crypto skeptic who has previously labelled Bitcoin (BTC) as worthless, now says the bank’s customers can buy the benchmark digital asset. Dimon announced the move during a speech at the banking giant’s annual investor day on May 19, 2025.

However, while JPMorgan bids to join other leading banks and financial institutions, including Morgan Stanley, in bringing BTC to their clients, Dimon remains skeptical. He also noted that while JPMorgan will allow its customers to buy Bitcoin, the bank will not custody it.

On his personal view about Bitcoin, Dimon has said:

“I don’t think you should smoke, but I defend your right to smoke. I defend your right to buy Bitcoin.”

After calling Bitcoin worthless in 2021, Dimon reiterated the take during a Senate hearing in 2023 and again in 2024 at the World Economic Forum in Davos. Earlier this year, Dimon likened Bitcoin to a “fraud.”

In his remarks about crypto and the ecosystem to lawmakers, the JPMorgan chief said he has always been “opposed to crypto, Bitcoin.” He noted that the only true use case of cryptocurrencies remains by criminals, money laundering, and tax evasion.

He has previously said he would shut Bitcoin down if it was all down to him.

“If I was the government, I’d close it down,” he noted in remarks in December 2023.

While Dimon has maintained a negative view of BTC and crypto, the broader banking ecosysem has increasingly warmed up to it.

Banks such as Morgan Stanley have shown greater ambition in tapping into the crypto market for their clients.

This has come as the launch of Bitcoin spot exchange-traded funds continues to shine a spotlight on institutional demand. Also taking a more upward trajectory is the tokenized assets market, with players such as BlackRock key cogs.

Notable shifts in regulatory approach by the U.S. Securities and Exchange Commission, banking regulators and others are also pushing crypto into widespread adoption across the globe. This positive outlook has gathered pace under President Donald Trump’s pro-crypto stance.

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May 20, 2025 0 comments

GameFi Guides

Bitcoin Whipsaws From $107,000 To $103,000: What Went Wrong?

by admin May 19, 2025

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Bitcoin surrendered a weekend burst above $107,000 and was last changing hands near $103,200 in European trade, a $4,000 round-trip that unfolded in less than twelve hours. The leading cryptocurrency printed an intraday high of $107,111 during thin Asian hours before liquidity evaporated and spot markets on Binance and Coinbase slid to $102,000.

Bitcoin’s Violent Swing Explained

The volatility landed on the heels of Moody’s decision late Friday to cut the sovereign credit rating of the United States to Aa1, stripping the world’s largest economy of the last triple-A crown it still retained after downgrades by S&P (2011) and Fitch (2023). Moody’s cited an “uninterrupted rise in debt and interest costs” as the main driver. US 30-year Treasury yields poked above 5% for the first time since April, deepening the risk-off tone across equities and high-beta assets.

Treasury Secretary Scott Bessent dismissed the ratings move in a televised interview on Sunday: “Moody’s is a lagging indicator. We didn’t get here in the past 100 days. We inherited a 6.7 percent deficit-to-GDP, the highest ever outside a recession or war. We are determined to bring spending down and grow the economy.”

Macro anxiety, rather than any crypto-specific headline, explains most of the pull-back, yet derivatives positioning amplified the swing. Coinglass data shows more than $665 million worth of leveraged positions were liquidated on the entire crypto market as perpetual funding flipped sharply positive into the spike and then reversed.

Dealers long gamma “seized the opportunity to lock in profits,” Singapore-based QCP Capital wrote in its Monday note, adding that the weekend pop owed much to “Metaplanet’s $104 million BTC purchase, alongside Strategy Inc.’s usual accumulation.” Still, QCP argued that Bitcoin’s ability to rally while equities softened “reinforces BTC’s positioning as a legitimate store of value.”

Flows into the ten US spot-Bitcoin exchange-traded funds underline that narrative. As of 29 April — the latest consolidated figure — the ETFs had drawn a cumulative $38.99 billion of net subscriptions and hold roughly 1.14 million BTC after another $591 million day of inflows, according to Farside Investors data.

Technical traders remain divided on what comes next. Adam Khoo, founder of Piranha Profits, reminded his 450,000 followers on X that previous US downgrades triggered 10% corrections in the S&P 500 but were fully erased within a year. “If the SPX drops another 10 percent this round, it would be another great opportunity for me to load up on high-quality businesses,” he wrote, musing whether markets will “panic a third time or be smarter now.”

For Bitcoin, the picture is less binary. On-chain data show exchange balances at multi-year lows, and options desks report persistent call-side skew — evidence, QCP says, of “structurally bullish” positioning despite the whipsaw. Yet traders eye the $101,000–$100,000 band as first-line support; a decisive break could expose the 50-day exponential moving average near $98,400, while reclaiming $107,000 would reopen January’s record high at $109,114.

Until then, the asset appears content to digest the Moody’s shock — and to let macro traders, not crypto die-hards, set the tempo of the next move.

At press time, BTC traded at $102,605.

BTC hovers above the 0.786 Fib, 1-day chart | Source: BTCUSDT on TradingView.com

Featured image created with DALL.E, chart from TradingView.com

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May 19, 2025 0 comments

Crypto Trends

Bitcoin ETFs Surpass $40 Billion in Cumulative Inflows

by admin May 19, 2025

Over $40 billion milestone
Bitcoin institutional demand rockets

Gracy Chen, CEO of the renowned cryptocurrency exchange Bitget, revealed a major milestone for the Bitcoin ecosystem in an X post on Monday.

According to the post, spot Bitcoin ETFs have surpassed a cumulative inflow of $40 billion as of May 19, building strong confidence among both retail and institutional Bitcoin investors.

Over $40 billion milestone

With 12 spot Bitcoin ETFs collectively amassing inflows worth tens of billions since their launch in early January 2024, institutional interest in Bitcoin remains strong despite periodic market volatility.

Following recent bullish moves in the leading cryptocurrencies, spot Bitcoin ETFs continue to attract significant capital. Data from popular crypto tracking platform SosoValue shows these ETFs brought in a total inflow of $260.27 million on May 16.

Source: SosoValue

BlackRock’s IBIT led the charge with a substantial $129.73 million inflow, followed by Fidelity’s FBTC and ARK & 21Shares’ ARKB, which posted $67.95 million and $57.98 million respectively.

As of May 16, total cumulative net inflows across all 12 ETFs have reached $41.77 billion.

This historic inflow signals Bitcoin’s transformation into a strategic asset class increasingly embraced by institutional giants and major financial firms.

Bitcoin institutional demand rockets

Gracy Chen emphasized the broader impact of this milestone on the crypto market, stating it reflects surging institutional confidence, particularly in Bitcoin.

She described the current trend as “the most institutionally anchored cycle in crypto history,” highlighting how this influx of institutional capital could lay the foundation for a long-term bull run.

While Bitcoin has shown mixed market signals recently, traders remain optimistic. Data from CoinMarketCap shows Bitcoin trading in the green, with a 1.74% price increase over the last 24 hours, pushing its current price to $105,450.90 as of press time.

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May 19, 2025 0 comments

GameFi Guides

JP Morgan Boss Jamie Dimon Says Bank Will Allow Clients to Buy Bitcoin

by admin May 19, 2025

In brief

JP Morgan CEO Jamie Dimon has long slammed Bitcoin, once calling the digital coin “worthless.”
But at the bank’s investor day, the billionaire said his institution would allow customers to buy Bitcoin, but not custody it.

JP Morgan boss Jamie Dimon said on Monday that his bank will allow its customers to buy Bitcoin—the latest sign of the bank’s increased openness to the asset, despite Dimon’s years of criticizing the largest crypto by market value and digital assets more widely.

In remarks during the investment bank’s investor day, Dimon said that JP Morgan clients would soon be able to buy BTC, although the bank wouldn’t custody it.

“We are going to allow you to buy it,” Dimon said at the bank’s annual investor day on Monday. “We’re not going to custody it. We’re going to put it in statements for clients.”

The pronouncement represents a pivot for JP Morgan and wider embrace of the traditional finance world that once shunned Bitcoin.

Dimon has been particularly critical of Bitcoin, saying at one point that the biggest digital coin’s “true use case” was for criminals.

The billionaire banker has also called Bitcoin “a fraud,” and last year described it as a “pet rock,” before telling journalists he’d “shut it down” if he could.

“I’ve always been opposed to crypto, Bitcoin, etcetera,” he said in 2023.

But now—likely due to client demands—the bank will allow customers to buy it, Dimon said.

Decrypt reached out to the bank for comment.

Other top U.S. banks are also offering crypto-related products. Morgan Stanley boss Ted Pick said in January the bank would work with regulators to see how they could offer crypto safely and said in January that it would allow financial advisors to pitch some spot bitcoin exchange-traded funds to qualified customers.

Despite criticizing Bitcoin itself, Dimon, who’s been CEO of the world’s largest investment bank since 2006, has praised blockchain technology, and the bank has used the technology for its own projects.

U.S. regulators are now taking a more relaxed approach to the space since crypto-friendly Donald Trump became president last year.

Under the new commander in chief, the Securities and Exchange Commission in January rescinded the Staff Accounting Bulletin (SAB) No. 121, a bill that prevented banks from custodying digital assets.

Edited by James Rubin

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May 19, 2025 0 comments

NFT Gaming

Bitcoin Could Surpass $108,000 ATH This Month. Best Meme Coins like BTC Bull Token Next to Surge?

by admin May 19, 2025

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Who wants Bitcoin to hit a new all-time high? One of the new best meme coins does – and so does Arizona. But does Bitcoin itself?

The world’s leading crypto continues to waffle about, jumping at times to within range of the ATH, then falling back down.

The past 24 hours have been a case in point:

In the early morning hours, $BTC briefly traded near $107K, before falling back and eventually trading down nearly 2% from where it started.

Why?

Keeping Bitcoin down is general market uncertainty, stock market turmoil, and a crypto regulatory environment that only changes slowly in favor of $BTC.

On the plus side is the money – particularly from financial institutions with deep pockets. Here’s the current level of inflows into $BTC ETFs:

These are the eleven biggest Bitcoin spot ETFs, looking green across the board.

And despite the uncertainty, there are still positive signs on the regulatory front also. Let’s see, what else?

Arizona Puts Spare Digital Change Into Bitcoin Piggy Bank

Unclaimed digital assets are becoming a surprising problem. In an era when more and more people use digital currencies, some of those assets sit untouched in various exchanges and accounts.

Think of them as digital spare change and loose coins, falling down between the cracks of your electronic couch cushions. And Arizona’s coming around with the vacuum to hoover it all up.

It’s a surprisingly forward-thinking proposal from the US state, which has officially created the second state-level Bitcoin reserve. To fund that reserve, Arizona will include digital assets that go unclaimed for more than five years.

And if you shudder at the word ‘include,’ thinking it sounds a lot like ‘take,’ there’s actually a pleasant surprise in the legislation. Arizona plans to use a public ledger – the blockchain itself – to track all the funds included in the reserve.

If the original owners come forward to claim them, every penny should be accounted for.

In the meantime, Arizona will be able to leverage the funds for passive yield like staking rewards, potentially returning 10% of the reserve’s profit each year back into the state’s general fund.

If owners don’t come forward within three years of the assets being included in the fund, the assets can be liquidated entirely.

If successful, the plan could blaze a trail for state-level management of digital assets with full transparency. It could even set a precedent for the US digital reserve, or for more controversial measures like CBDCs (ouch).

And in the meantime, it adds more fuel to Bitcoin’s fire – and could push the crypto to at or near the all-time high.

It also sets the stage for a Bitcoin meme coin that’s blazing its own path to glory.

BTC Bull Token ($BTCBULL) – New Meme Coin Doubles Down on Bitcoin’s Rise

BTC Bull Token ($BTCBULL) doesn’t think $BTC will hit a new all-time high.

$BTCBULL thinks Bitcoin will utterly smash the new all-time high on its way to $250K – and beyond.

For that reason, the developers of one of the best meme coins tied $BTCBULL and $BTC together using an innovative combination of airdrops and token burns.

At key $BTC price milestones – namely $125K, $175K, and $225K – $BTCBULL tokens will be burned, exerting deflationary pressure on the token price.

At $150K and $200K, investors holding $BTCBULL in their Best Wallet app accounts will receive free $BTC airdrops. The more $BTCBULL they hold, the more $BTC they receive.

And when Bitcoin hits $250K, a massive $BTCBULL airdrop awAdded ‘token’ to BTC Bull name
Four ways to earn, not three (added staking APY)aits.

BTC Bull Token is a meme coin that rides the wave of Bitcoin’s success, but it also has a unique utility; Bitcoin believers can leverage $BTCBULL to earn even more from their crypto. With $BTCBULL, there are four ways to earn:

$BTCBULL price increase
$BTCBULL airdrop
$BTC airdrops
Staking APY (69% at the moment)

For a price – currently $0.00252 – that’s a mere fraction of Bitcoin’s, BTC Bull Token holders gain more ways to profit from Bitcoin’s rise.

Time to put that spare change to work. Learn how to buy BTC Bull Token, and see why our price prediction says $BTCBULL could reach $0.006467 by the end of the year, a full 156% increase.

Arizona Joins the Bulls to Run with Bitcoin

Arizona’s decision to establish a state reserve isn’t just an innovative public use of blockchain tech.

It’s actually an endorsement of a bullish attitude towards Bitcoin and crypto in general.

Always do your own research before investing – but don’t overlook Bitcoin and BTC Bull Token as they gain momentum.

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May 19, 2025 0 comments

Crypto Trends

Bitcoin Long-Term Holders Supply Back On The Rise After A Brief Decline

by admin May 19, 2025

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Positive sentiment has returned to the market as Bitcoin witnessed a surge above the $105,000 mark, a key resistance level in its ongoing upward trend. Even though BTC has briefly pulled back, many seasoned investors are exhibiting significant interest in the flagship asset, which is evidenced by a recent spike in long-term holders’ supply.

Long-Term Bitcoin holders Are Accumulating Again

Bitcoin’s renewed upward trend beyond the $100,000 milestone is being met with growing interest and confidence. On-chain expert and author Darkfost reports a notable shift in supply dynamics among long-term BTC holders, often regarded as seasoned investors.

Presently, the Bitcoin long-term holders’ supply has increased after experiencing a rare second consecutive decline, which triggered speculation about a potential distribution from these committed holders. It also raised concerns that the seasoned investors are starting to reassess their positions during the previous slight shake downs in BTC’s price last week. However, the renewed rise in long-term holders’ supply suggests a resurgence in conviction and demand among these investors as BTC surges toward key resistance levels.

BTC long-term holders go on a buying spree | Source: Darkfost on X

Following his thorough analysis of the key Bitcoin Long-Term Holder Binary Spending Indicator, the expert revealed that their supply has sharply increased from 14.3 million BTC to approximately 15.8 million BTC in the past few days.

Given the long-term holders’ underlying commitment, this rebound may support BTC’s ongoing uptrend, stabilizing and strengthening its current market cycle. If the supply continues to increase, it could provide the necessary momentum for BTC’s rally to extend since this development typically encourages higher price levels.

Two Key Points From The LTHs Supply Rise

Thus far, Darkfost has underlined two important points in the rise in LTHs supply. According to the expert, long-term holders who have accumulated BTC over time appear to be holding their coins currently rather than selling them.

Furthermore, some Bitcoin holders who purchased more coins recently, especially more than six months ago, now seem to be holding steadily. Together, these factors show a general desire to hang onto their coins throughout the long and medium terms.

With the current market performance, the expert noted that the rising supply among long-term holders without spending is a critical signal to observe. Another key observation outlined by Darkfost is that the amount of UTXOs spent by LTHs has drastically fallen since peaking in December 2024 and the brief panic in March when BTC fell below $80,000.

At the time of writing, BTC’s price was trading at $102,603, indicating a nearly 3% decrease in the past week. Despite the sudden drop to the $102,000 threshold, investors are still betting on the asset’s potential to continue rallying, as evidenced by a surge in its trading volume by over 79% in the past day.

BTC trading at $103,213 on the 1D chart | Source: BTCUSDT on Tradingview.com

Featured image from Pixabay, chart from Tradingview.com

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May 19, 2025 0 comments

GameFi Guides

Bitcoin surpassed gold per kilo, but gold still leads as a safe haven: MEXC COO

by admin May 19, 2025

Bitcoin is now worth more than one kilogram of gold, but gold is outperforming in this volatile economy, says MEXC COO Tracy Jin.

Bitcoin (BTC) is worth more than one kilogram of gold, but many investors still favor the latter. On Monday, May 19, MEXC COO Tracy Jin shared her insights about Bitcoin’s relative performance with crypto.news.

Jin pointed out that Bitcoin traded above $106,000, which is worth more than one kg of gold. The biggest crypto asset reached a daily high of $107,089 on May 19. However, she added that the volatile macroeconomic environment still favors gold.

“Since the beginning of 2025, gold has risen by 23%, outpacing Bitcoin’s 12% gain. This divergence highlights that, in times of heightened uncertainty, institutional capital continues to favor traditional safe-haven assets. Gold remains the preferred hedge — at least for now,” Tracy Jin, MEXC.

Still, gold’s strong performance could be good for Bitcoin. This is because the current macroeconomic imbalances favor assets that are seen as safe havens. What is more, Bitcoin has more space to grow, Jin points out.

Bitcoin could be at $150,000 by year’s end: Tracy Jin

Despite gold’s relatively strong performance, Jin believes that Bitcoin is in a good position to grow further. Compared to traditional markets, Bitcoin has shown resilience, and investors are increasingly starting to view it as a safe haven.

“Bitcoin, however, is showing resilience. The asset has posted six consecutive weeks of growth, closing near $106,500. The $105,800 level is a key resistance zone: a confirmed breakout could open the way toward $109,000, with optimistic projections reaching $130,000 in Q3 and potentially $150,000 by year-end,” Tracy Jin, MEXC.

Long term, there’s still significant potential for growth, especially if investors start using Bitcoin as a safe haven and a hedge against inflation. For instance, Jin pointed out that Bitcoin’s market cap is still well below gold’s, at $2 trillion compared to $21 trillion.

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May 19, 2025 0 comments

GameFi Guides

JPMorgan CEO Says He Will Allow Clients to Buy Bitcoin

by admin May 19, 2025

Jamie Dimon, chief executive officer at JPMorgan, has stated that the banking giant would allow its clients to purchase the leading cryptocurrency.

At the same time, Dimon has clarified that the bank itself would not engage in custody of their crypto.

Dimon has also reiterated that he himself is not a fan of the mercurial cryptocurrency.

In 2017, the JPMorgan boss famously stated that he would ban any employee from trading Bitcoin.

Bitcoin Taps $106,000 Before Tumbling as Ethereum Dips

by admin May 19, 2025

In brief

Bitcoin hit $106,000 before slipping 3.8% to $102,450 in a matter of hours
Ethereum tumbled 4.3% on Monday to $2,400, prompting $264.4 million worth of liquidations
The Federal Reserve warned that Trump’s tariffs could cause inflation to rise, with Walmart also increasing its prices due to the trade war.

Leading cryptocurrency Bitcoin has had a volatile start to the week as it rose 2.5% from $103,850 to $106,500 before slumping 3.8% to $102,450 on Monday.

With Bitcoin’s major moves $178.46 million worth of positions have been liquidated over the past 24 hours, according to CoinGlass, with a fairly equal split between long and short positions.

This comes as a class action lawsuit was filed against MicroStrategy, the firm led by Michael Saylor that is bullishly acquiring Bitcoin, claiming that the firm is misleading investors—a matter of hours later the company announced the acquisition of $764.9 million worth of BTC.

Plus, an Australian judge ruled that Bitcoin is a form of money, according to the Australian Financial Review. That will potentially open the door to Bitcoin being exempt from capital gains tax.

Meanwhile, Ethereum has tumbled 4.3% on the day from $2,500 to $2,400 after what was considered a great month for the second largest cryptocurrency. As such $264.40 million worth of Ethereum positions have been liquidated, according to CoinGlass, with $205.28 million of these being longs.

This follows a month of green action for most of the crypto industry, as President Trump’s trade war appears to be coming to a close.

At the start of May, the U.S. and the UK agreed on a trade deal in what the UK Treasury minister called a “huge relief.” Then, last week, China reached an agreement with the States prompting a major roll back in tariffs between the countries.

However, inflation concerns have resurfaced following the Federal Reserve keeping its benchmark interest rate at 4.25% to 4.50%, with no sign of an immediate shift in policy—despite criticism from Trump. The Fed also warned that the risk of higher inflation and unemployment were rising due to Trump’s tariff war.

These concerns were compounded last week by Walmart announcing plans to raise prices this month, due to the impact that tariffs had on imports.

This may explain why Bitcoin has had such a surprisingly volatile week. It hit a weekly low of $101,750 on Tuesday followed by multiple peaks and troughs before hitting $106,500 high on Monday, and slumping back to $102,450 hours later.

Despite Bitcoin’s 1.4% drop on the day, according to CoinGecko, it remains just 5.8% from its all-time high of $108,786 hit in January of this year. Ethereum, by comparison, is still 50.9% from its all-time high of $4,878 achieved in 2021.

Edited by Stacy Elliott.

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May 19, 2025 0 comments

NFT Gaming

Bitcoin (BTC) Price Rebounds to $105K After Moody’s Downgrade; Crypto ETF Issuer Sees 35% Upside

by admin May 19, 2025

Cryptocurrencies regained footing on Monday after a rocky start to the trading session, mirroring a broader recovery in risk assets as traders digested Moody’s downgrade of U.S. government bonds.

Bitcoin

notched a strong rebound after slipping to as low as $102,000 early in the U.S. session, following its record weekly close at $106,600 overnight. The largest cryptocurrency by market cap climbed back to $105,000 in afternoon trading, up 0.4% over 24 hours. Ether rose 1.2%, reclaiming the $2,500 level.

DeFi lending platform Aave

outperformed most large-cap altcoins, while the majority of the broad-market CoinDesk 20 Index members still remained in the red despite advancing from their daily lows. Solana , Avalanche and Polkadot were down 2%-3%.

The bounce extended to U.S. stocks, too, with the S&P 500 and Nasdaq erasing their morning decline.

The early pullback in crypto and stocks came after Moody’s late Friday downgraded the U.S. credit rating from its AAA status. The move rattled bond markets, pushing 30-year Treasury yields above 5% and the 10-year note to over 4.5%.

Still, some analysts downplayed the downgrade’s long-term impact on asset prices.

“What does [the downgrade] mean for markets? Longer-term – really nothing,” said Ram Ahluwalia, CEO of wealth management firm Lumida Wealth. He added that in the short term there might be some selling pressure centered on U.S. Treasuries due to large institutional investors rebalancing, as some of them are mandated to hold assets only in AAA-rated securities.

“Moody’s is the last of the three major rating agencies to downgrade U.S. debt. This was the opposite of a surprise – it was a long time coming,” Callie Cox, chief market strategist at Ritholtz Wealth Management, said in an X post. “That’s why stock investors don’t seem to care.”

Bitcoin targets $138K this year

While BTC hovers just below its January record prices, digital asset ETF issuer 21Shares sees more upside for this year.

“Bitcoin is on the verge of a breakout,” research strategist Matt Mena wrote in a Monday report. He argued that BTC’s current rally is driven not by retail mania, but by a confluence of structural forces, including institutional inflows, a historic supply crunch and improving macro conditions that suggests a more durable and mature path to fresh all-time highs.

Spot Bitcoin ETFs have consistently absorbed more BTC than is mined daily, tightening supply while major institutions, corporations such as Strategy and newcomer Twenty One Capital accumulate and even states explore creating strategic reserves.

These factors combined could lift BTC to $138,500 this year, Mena forecasted, translating to a roughly 35% rally for the largest crypto.

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May 19, 2025 0 comments