Cryptocurrency
Bitcoin Correction to $34K Predicted as Grayscale Dumping Continues

BTC has dropped to its lowest price level for seven weeks, hitting $39,500 during Tuesday morning’s Asian trading session.
The 3% daily decline has increased the size of the BTC pullback to 18.5% from its Jan. 10 high of $48,500. Moreover, analysts have predicted that the correction could continue and be as deep as 30%, which would drop Bitcoin prices back to $34,000.
Grayscale Selling Dumps Markets
On Jan. 23, on-chain analytics platform CoinGlass posted a liquidation heatmap with a bright spot at this $34,000 level. CoinGlass also reported that there have been $225 million in liquidations over the past 24 hours. The majority were in long positions for Bitcoin and Ethereum.
“Grayscale continues to dump the market,” it stated before adding that there was still more than 550,000 BTC in the company’s Bitcoin Trust (GBTC).
#Bitcoin liquidation heatmap (3 month)
Heatmap brighter liquidity cluster at $34005.
Grayscale continues to dump the market.
Total Bitcoin in Trust 552.68K
1d Change -14.29K
7d Change -39.42K👉https://t.co/Nu9kTJMzy2https://t.co/Blt2gsNRBx pic.twitter.com/pj2MvBGKo2
— CoinGlass (@coinglass_com) January 23, 2024
However, 27,717 BTC has been bought by fund issuers on a net basis since the spot ETFs launched, reported CC15Capital. That equates to around $1.1 billion at current prices despite the outflows from GBTC.
UPDATE
GBTC just announced 15K #BTC outflows.Down to 552K #BTC holdings.
Total ETF flows have been negative last two trading days.
Follow our ETF Tracker for live updates. pic.twitter.com/og47IwSe9i
— Thomas | heyapollo.com (@thomas_fahrer) January 23, 2024
Tether and VanEck strategist Gabor Gurbacs commented that Bitcoin ETFs absorbed the FTX GBTC estate sale pretty quickly and without a large impact. “Estate sales are no longer a catastrophe,” he said before adding:
“Bitcoin is flowing from weak hands to strong hands. Glad we made the ETFs possible. It changes the game and tames downside volatility.”
“Monday has been a bloodbath for most of the crypto sector,” reported Santiment on Jan. 23. The blockchain analytics provider added that there is 35% less discussion toward BTC and 21% less toward ETH compared to before the ETF approval week.
“FUD is beginning to enter the picture, which should create nice price bounce opportunities when it reaches its peak.”
Elsewhere on Crypto Markets
Total market capitalization has declined by 2.8% on the day to $1.65 trillion at the time of writing.
Moreover, Bitcoin has recovered slightly to reclaim $40,000, but the short-term outlook spells more pain.
The altcoins were a sea of red on Tuesday morning in Asia with Solana (SOL), Avalanche (AVAX), Chainlink (LINK), and Litecoin (LTC), absorbing the largest losses.
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Cryptocurrency
Can Ripple (XRP) Hit $10 in 2025? ChatGPT Answers

TL;DR
- The cryptocurrency space is full of bullish and sometimes relatively ridiculous price predictions for members’ favorite assets, so we decided to ask ChatGPT for its opinion on whether XRP has the legs to make a mind-blowing surge to double-digit territory.
- It believes such a whopping 320% pump from current levels will require some “substantial developments.”
$10 Mission Possible?
The XRP Army, one of the most vocal communities in crypto, has outlined some massive predictions for the underlying asset, ranging from describing it as a modern-day Manhattan real estate opportunity to putting a future price tag of $100.
While these might sound a bit far-fetched at the moment, given XRP’s price of $2.38, we asked ChatGPT for another popular target – $10. After all, it would require a more modest 320% surge by the end of the year, something that Ripple’s token has done in the past – the last time was in late 2024/early 2025, when it shot up by even bigger percentages.
The AI solution noted that the lawsuit resolution against the SEC, which is not officially over yet, even though both parties agreed to a $50 million settlement, has opened the door for XRP to gain further traction as it has “removed a significant uncertainty, potentially boosting investor confidence and institutional interest.”
In terms of that institutional adoption, ChatGPT said a potential approval of a spot Ripple ETF in the States could skyrocket the underlying token’s price. The odds are relatively high, with Polymarket predicting a 79% chance for such a product to hit the US markets by the end of the year.
Lastly, the AI chatbot outlined the overall crypto market dynamics. The arrival of the much-anticipated altseason, which has been highly speculated in the past few weeks, could be among the biggest gain drivers for the second-largest non-stablecoin alt.
But These Challenges…
ChatGPT believes reaching a $10 price tag is not an easy task and comes with its own set of challenges. One of them is the actual size of XRP in terms of market cap, as it would require the metric to shoot up to $580 billion or even more, given the billion tokens released every month. This would put it at levels almost twice as high as ETH’s current one.
XRP also faces a lot of competition not only in the cryptocurrency space where investors can choose from thousands of altcoins, but in the traditional payment system where it serves as a cross-border token. As such, ChatGPT concluded:
“While reaching $10 is within the realm of possibility, it would require a confluence of favorable factors, including increased adoption, positive market sentiment, and supportive regulatory developments. Investors should consider these factors and conduct thorough research when evaluating XRP’s potential.”
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Cryptocurrency
Metaplanet Hits All-Time High $6M Q1 Revenue as BTC Holdings Surge 3.9x

The Japanese hospitality firm Metaplanet has disclosed record-breaking earnings for the first quarter of the year, primarily attributing the success to its Bitcoin treasury strategy.
According to the firm’s Q1 Earnings Report, its Bitcoin strategy contributed 88% to its revenue of 877 million Japanese yen ($6 million). Metaplanet’s consistent BTC accumulation has also earned it the spot of the 11th-largest public company by bitcoin holdings globally and number one in Asia.
Metaplanet Posts Record Q1 Financials
From January 1 to date, Metaplanet has added 5,034 BTC to its balance sheet, increasing its holdings by 3.9x to 6,796 BTC. These purchases were funded by a moving-strike warrant program, which enabled the company to issue equity without setting a fixed discount or strike.
As of May 10, the hospitality entity had executed 87% of the program, raising 76.6 billion yen ($524.8 million) and becoming the largest public equity issuer in the country. With the funds raised, Metaplanet has achieved approximately 68% of its near-term 10,000 BTC goal at a cost basis of 13.27 million yen ($90,929) per BTC.
Although the company recorded a 7.4 billion yen ($50.7 million) unrealized loss on its BTC position by the end of the quarter due to market prices, bitcoin’s recent rally has fully reversed the losses. The firm reported unrealized BTC gains of 13.5 billion yen ($92.5 million) as of May 12.
Evaluating its treasury performance, Metaplanet reported a BTC yield of 170% and a BTC gain of 2,996 BTC. These metrics measure the growth in BTC per diluted share and the BTC per shareholder unit.
Embracing a Bitcoin Treasury
Metaplanet said last quarter’s report posted the strongest financial result in its 20-year corporate history. The company’s core operating metrics and Bitcoin treasury key performance indicators (KPIs) also broke its records for the first time.
The entity recorded an operating profit of 593 million yen (over $4 million) after an 11% uptick quarter-on-quarter. Revenue rose 8%, while total assets surged 81% to 55 billion yen (more than $376.8 million) within the same time frame.
Due to the success of its Bitcoin treasury strategy, Metaplanet is urging other companies to consider adopting Bitcoin, offering its capital strategy as a blueprint.
“Our results speak for themselves: we don’t set targets to feel safe—we set them to exceed them, quarter after quarter. The global feedback loop between capital markets and Bitcoin is just beginning. Metaplanet intends to be its premier conduit,” the company said.
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Cryptocurrency
Bitcoin Dominance Dives in May as Altcoins Form Golden Cross

It’s a sign of a bullish market for all crypto assets that are not called BTC. Last time this happened in 2021, a bevy of popular altcoins returned cryptocurrency buyers 28,000% by the end of the market cycle.
Bitcoin Dominance Takes 4% Spill
Bitcoin’s market share fell from 65% to 61% between May 7 and May 13, according to TradingView. Markets haven’t seen that 65% level of BTC dominance over altcoins since 2021.
That year was the altseason, as crypto veterans like to call it, that launched Dogecoin’s price tens of thousands of percent upward in under 12 months.
Meanwhile, in 2021, a $100 Shiba Inu investment went from Jan. 1, 2021, to over $14 million by Mar. 2023. Two unemployed Millennial brothers from Westchester, NY, invested $8,000 in Shiba Inu that year after a family friend told them about it.
There are hundreds of trillions of dollars out there.
There are only 21 million #Bitcoin.
Do the math.
— Samson Mow (@Excellion) May 8, 2025
As Bitcoin boosters like to say: Do the math.
While a 4% dip in Bitcoin dominance may seem like a small fraction, the numerator here is a global Internet currency with a two trillion dollar market cap on May 7.
That’s something like an $80 billion dip in market share against altcoins over six days in May. Furthermore, Bitcoin’s price and market cap grew by 7% during those six days, even as its wedge on the pie chart shrank.
Altcoins Form Bullish Golden Cross
Meanwhile, an index of altcoin prices formed a golden cross in May, potentially signaling bullish momentum into a prolonged bull run.
As one popular crypto YouTube analyst reported on May 13, the total altcoin market cap for major currencies has formed a golden cross. That’s when a shorter-term moving average crosses from below to above a longer-term moving average.
Altseason incoming. golden cross hit.
Last time this happened in 2021, alts went +28,000%
2025 just did the same.
if you fumble this run, you deserve to stay broke.Don’t fade the rotation.#crypto #altcoins #bullrun pic.twitter.com/ZZp7z2nrcT
— Bitcoin Duniya (@bitcoin_duniya) May 13, 2025
The moving average for a cryptocurrency is the periodically updated average of all its prices over a previous period. Traders use that to get a sense of the market’s inertia.
If the last market cycle’s performance repeats on this round, the total altcoin market cap could exceed $5 trillion sometime by 2026. Here are five more signals that altseason may soon commence.
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