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US Bitcoin supply fell over 10% in the past year

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Bitcoin is increasingly active in Asia as U.S. supply share dwindles over the past two years. Bitcoin abandoned the United States during the 2022 bear market, new research suggests. In a tweet on June 8, on-chain analytics firm Glassnode revealed some surprising conclusions about who is now using Bitcoin.

BTC supply moves to Asia

The past year has seen some seismic shifts in where Bitcoin is held and traded. In its latest analysis of the BTC supply, Glassnode measured its migration around the world — notably, away from the U.S. and toward Asia. Since mid-2022, the amount of the supply held and traded by U.S. entities has decreased by more than 10%.

At the same time, Europe’s share has stayed roughly equal, translating to a redistribution from west to east.

“A clear divergence is visible in the year-over-year BTC supply change based on geographical regions. The extreme dominance of US entities in 2020-21 has clearly reversed, with US supply dominance falling by 11% since mid-2022,” Glassnode researchers commented.

“European markets have been fairly neutral over the last year, whilst a significant increase in supply dominance is visible across Asian trading hours.”

The metric used to measure the phenomenon, Year-over-Year Supply Change, is a probabilistic tool that makes assumptions over BTC supply ownership based on the time at which it moves.

“Geolocation of Bitcoin supply is performed probabilistically at the entity level. The timestamps of all transactions created by an entity are correlated with the working hours of different geographical regions to determine the probabilities for each entity being located in the US, Europe, or Asia,” Glassnode explains in its guidance notes.

TheYear-over-year Supply Change shows the U.S. share beginning to decline in March 2021 but accelerating beginning in May this year.

Coinbase CEO says U.S. must “seize” crypto opportunities

The findings come as the geopolitical landscape around crypto sees major upheaval of its own. Hong Kong began allowing exchanges to offer trading this month, while in the West, U.S. legal proceedings against major exchanges marked something of a watershed moment for the industry.

In an opinion piece for MarketWatch, Brian Armstrong, CEO of Coinbase — one of the targets of the legal action — warned that poor regulation would disadvantage the United States.

“Smart—and bespoke—regulation in the 1990s and early 2000s enabled the U.S. to define the Internet Age,” he wrote.

“Just like then, now is the time for Congress to seize the historic opportunity presented by crypto, and pass comprehensive legislation that safeguards consumers and fosters innovation.”

On the topic of Hong Kong, Armstrong added that China pushing the crypto narrative was “no surprise.”

Cryptocurrency

Bitcoin (BTC) Decoupling From Wall Street: A Signal for New Records in 2025?

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2025 has kicked off on a positive note, with Bitcoin back to six figures, trading above $100,000. Despite climbing by almost 8% over the past week, BTC is yet to reclaim its recently established all-time high above $108,000.

However, Bitcoin’s divergence from equities suggests a reduced correlation, raising hopes for a bullish 2025 and new all-time highs.

Weakening Bitcoin-Equity Correlation

There has been a notable shift in the correlation between cryptocurrency and equities, particularly Bitcoin and the S&P 500. Since Donald Trump was elected as the 47th US President in November 2024, the two markets have been closely tied.

However, data from Santiment demonstrated Bitcoin gaining momentum, surging by over 3% in a single day compared to the S&P 500’s modest 0.4% rise.

This divergence is significant, as it suggests Bitcoin might be decoupling from its perceived role as a “high-leveraged tech stock,” a reputation it has held for much of the past three years. Historically, Bitcoin and the broader crypto market have achieved their strongest bull runs during periods of low correlation with traditional equity markets.

Experts also suggest that Bitcoin is ripe for the next leg up, with a crucial milestone being $140,000 in the coming months.

Crypto Market in Later Stages of Bull Cycle?

This decoupling coincides with broader market indicators suggesting that the cryptocurrency market has entered the later stages of its current bull cycle, which began in January 2023.

As noted by CryptoQuant data, Bitcoin has seen significant growth in both price and duration, supported by a substantial influx of new and existing investments. The percentage of Bitcoin traded for less than a month, measured by realized market cap (UTXO), has reached 36%.

While this is lower than past cycle peaks, the long-term trend remains downward, indicating the market may peak by the first or the second quarter of 2025. In fact, analysts predict a sharp rise in this ratio 2-4 times before the market overheats, likely triggering the next bear cycle.

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Bitcoin Reclaims $102,000 as Best Wallet Token ICO Hits $6.5M Milestone

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2025 is shaping up to be another exciting and bullish year for the crypto markets, as Bitcoin has once again pushed above $102,000.

This achievement follows a highly positive first week of the year, during which BTC made a gain of more than 5%. Bitcoin’s total market cap is now hovering just below the $2 trillion mark, while the asset itself is pulling in 24-hour trading volumes of approximately $49.5 billion.

As investors and traders lock in and prepare their 2025 strategies, crypto self-custody wallets have become a hot topic. Best Wallet, one of the top-rated wallets on the market, has now raised $6.5 million through the ICO for its new ecosystem token $BEST, which could be a smart play ahead of the next bull run.

Bitcoin Breaks Into Six Figures Once Again

Bitcoin bears, who quickly declared the bull market over during BTC’s dip in December, have suddenly gone quiet as the leading cryptocurrency pumped beyond $102,000 yesterday.

As the chart analysis below demonstrates, a bullish double bottom was already all but confirmed on New Year’s Day:

At the time of writing, that double bottom has mostly played out as expected. Although a more textbook pattern would have seen a faster push towards $108,000, that level also happens to be Bitcoin’s all-time high.

Therefore, some extra resistance below $108,000 is a natural occurrence here. Some BTC holders will be looking to take some late profits, while whales try to suppress the price (and accumulate more Bitcoin while it’s below its all-time high). There will also be some bears left, making their last stand while shorting BTC to the best of their ability.

While all of this activity is occurring, and leading to some sideways chop for BTC, trading volumes have mostly remained at average levels. This indicates an overall lack of conviction and decisiveness – even though the bulls have indeed won out so far in 2025.

Another bullish factor is the presence of an ascending triangle pattern, firmly established during the creation of the double bottom. This pattern has until April to fully play out, leaving a lot of white space to fill within a gradually narrowing (and rising) price range.

A breakdown through the triangle’s green support line would open up the $82,000 region as a bearish price target for shorts – which would also be a key spot where bulls take their chances and buy the dip.

Taking the bullish side again, a new all-time high break will force Bitcoin bulls to try and establish $108,000 as a new support level.

As we enter the next bull run, new tokens are those that experience the highest growth. For traders on the lookout for those opportunities, the Web3 Best Wallet has created some useful tools to spot high potential tokens.

Best Wallet Token ($BEST) ICO Passes $6.5M – Smart Play for the Bull Run?

The potential gains available to Bitcoin buyers are relatively limited in comparison to the profits that can be made from new tokens – especially those in their early ICO stages. One exciting presale project is the Best Wallet Token ($BEST) presale, which has now raised more than $6.5 million.

The non-custodial wallet market is worth $11 billion, and Best Wallet is on track to capture 40% of it by 2026. Through the Best Wallet ecosystem, users have 24/7 access to all of their cryptos through a smartphone app (for iOS and Android), and also benefit from staking, trading swaps through the Best DEX, iGaming, and the latest crypto presales.

One of its most interesting tools is the Upcoming Tokens feature. This highlights new coins with high potential, and several tokens like Pepe Unchained and Catslap have gone on to see massive growth after being listed in Best Wallet.

$BEST token holders get even more exclusive benefits, including airdrops and earlier access to top crypto presales than other users to new token tips, lower transaction fees, staking rewards, ecosystem governance votes. Naturally, long-term investors can also simply hold a bag of $BEST as part of their crypto portfolios.

At the time of writing, investors interested in capitalizing on this market through a leading product only have a limited time to secure $BEST tokens, which are currently priced at $0.0235.

As the presale continues, the price will gradually rise – and it’s expected to explode when $BEST gets listed on some DEX and CEX platforms following its official launch later this year.

Visit Best Wallet Token Presale

Disclaimer: The above article is sponsored content; it’s written by a third party. CryptoPotato doesn’t endorse or assume responsibility for the content, advertising, products, quality, accuracy, or other materials on this page. Nothing in it should be construed as financial advice. Readers are strongly advised to verify the information independently and carefully before engaging with any company or project mentioned and do their own research. Investing in cryptocurrencies carries a risk of capital loss, and readers are also advised to consult a professional before making any decisions that may or may not be based on the above-sponsored content.

Readers are also advised to read CryptoPotato’s full disclaimer.

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Akuma Inu Price Pumps 110%, Could Meme Index be Next to Explode After Raising $2M?

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Akuma Inu (AKUMA), the anime-inspired meme coin, has rocketed 110% in the past 24 hours.

That makes AKUMA one of the hottest cryptos on the market right now.

Meanwhile, Meme Index (MEMEX) is beginning to go viral with its unique approach to meme coin investing – and some investors believe it could also be about to explode.

AKUMA Price Explodes – What’s Behind the Coin’s Rally?

Akuma Inu is blowing up right now.

The coin’s mascot, a fierce black Pomeranian, is taking over the meme coin space – offering something different from other dog-themed tokens.

AKUMA is hosted on the Base network, and its price has more than doubled since yesterday.

The coin is up 336% in the past week alone.

It’s now hovering around $0.0010, and over the last day, spot trading volume has exceeded $5.6 million.

That’s enough to get it a spot on CoinMarketCap’s trending cryptos list.

Not bad for a meme coin that’s still only available on Uniswap and Pancakeswap.

Interestingly, there is no apparent reason why Akuma Inu’s price has climbed in the past 24 hours.

It seems that AKUMA is simply benefiting from traders’ interest in new and unique meme coins, as evidenced by the recent rallies from AI16Z and PENGU.

Akuma Inu & The Bull Run – Is This the Final Stage?

There are mixed conditions in the crypto market right now.

Bitcoin passed $100,000 again yesterday, yet has dropped today, pulling down most major altcoins.

However, this indecisiveness doesn’t seem to have affected AKUMA.

Smaller meme coins like this tend to trade on their own momentum, often rising regardless of broader market trends.

And the coin’s timing might actually be perfect since CryptoQuant analysts believe the bull market is entering its final stages, with a potential peak in early-to-mid 2025.

Meme coins often see their biggest runs around this time of year.

But not everyone expects a market top to approach so soon.

VanEck’s team predicts Bitcoin could surge as high as $180,000 by year-end, while Steno Research expects 2025 to be crypto’s best year ever.

For AKUMA holders, either scenario could spell opportunity – meme coins often thrive during sustained bull runs and in the final stages of a cycle.

Plus, if AKUMA were to be listed on a top-tier CEX like Binance, its recent price action could just be the start of something much bigger.

It’s a meme coin to watch in the days and weeks ahead.

Meme Index Could be the Next Big Meme Coin After Raising Over $2M in Presale

Everyone’s talking about AKUMA, but there’s another meme coin that’s beginning to attract attention: Meme Index.

This project has now raised over $2 million in its presale.

But it’s not just a random meme coin – it’s creating a whole new way for retail traders to invest.

Meme Index will offer four different indexes, each with a unique selection of meme coins.

These indexes are similar to the S&P 500 in how they are structured.

You’ve got a low-risk index with established names, and then there’s a high-risk index for those with more of a risk appetite.

It’s an exciting concept – especially given all the hype around meme coins right now.

If that wasn’t enough, Meme Index also has a built-in staking protocol for the MEMEX token, offering APYs of 1,170%.

No wonder crypto YouTuber Michael Wrubel, who has over 314,000 subscribers, praised the project in a recent video.

Wrubel has a history of talking about presale cryptos before they explode, so his endorsement could be a signal that Meme Index might be on the verge of a breakout.

However, as it stands, the project’s presale is still ongoing.

The team has yet to announce an end date, but investors can grab MEMEX tokens at a discounted price of $0.0149831 each.

So, for those who missed the boat with AKUMA, Meme Index might be the next big opportunity.

Visit Meme Index Presale

Disclaimer: The above article is sponsored content; it’s written by a third party. CryptoPotato doesn’t endorse or assume responsibility for the content, advertising, products, quality, accuracy, or other materials on this page. Nothing in it should be construed as financial advice. Readers are strongly advised to verify the information independently and carefully before engaging with any company or project mentioned and do their own research. Investing in cryptocurrencies carries a risk of capital loss, and readers are also advised to consult a professional before making any decisions that may or may not be based on the above-sponsored content.

Readers are also advised to read CryptoPotato’s full disclaimer.

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