Bitcoin (BTC) Trades at $109,637 as $11 Billion in Short-Term Holder Profits Weigh on Momentum

Bitcoin (BTC) traded at $109,637 at press time, after gaining 4.38% in the past seven days. The asset remains just below its record high

Bitcoin (BTC) traded at $109,637 at press time, following a 4.38% gain over the past seven days. The asset remained just below its record high, as $11 billion in short-term holder profits and macro uncertainty limited further momentum.

Bitfinex analysts noted that short-term holders realized $11.4 billion in profits over 30 days, a stark contrast to the $1.2 billion in the previous month. Without a substantial influx of new capital, this might restrict further upside potential in the near term.

Moreover, U.S. spot bitcoin ETFs absorbed over $5.3 billion in May, but the accelerated pace of profit realization suggested a pause. A key level to watch was $95,000, the cost basis for short-term holders.

The day’s advances followed President Donald Trump’s decision to delay proposed 50% tariffs on EU goods until July 9, which helped global stocks and risk assets recover from last week’s volatility.

ETF Inflows Hit $2.7B Despite Macro Turmoil

U.S. spot bitcoin ETFs reported a collective inflow of $2.7 billion during the past week. The current holdings of these institutional products amounted to 1.2 million BTC, which represented about 5.76% of the total supply.

Among the market leaders, BlackRock’s IBIT fund attracted $2.4 billion.

According to Bitfinex, the market was experiencing “healthy consolidation,” supported by strong ETF inflows and low trading volatility. Expert analysts highlighted the burgeoning on-chain activity and a steady increase in realized capital as signs of structural growth rather than short-term speculative activity.

In the broader digital asset landscape, investment products clocked up year-to-date inflows of $10.8 billion, setting a new record. Weekly inflows reached $3.3 billion, ultimately pushing assets under management to a peak of $187.5 billion, according to data from CoinShares on Monday.

The U.S. contributed the majority of last week’s inflows with $3.2 billion, followed by Germany and Hong Kong. Bitcoin absorbed $2.9 billion, while BlackRock’s IBIT now held $71.42 billion in assets, equivalent to 3.32% of BTC’s market cap. Products shorting bitcoin and Ethereum ETFs also saw notable capital flows, but XRP products reported outflows of $37.2 million.

Bitcoin Conference 2025 Commences Amid Heightened Interest

The Bitcoin 2025 Conference is set for May 27 in Las Vegas, gathering top industry figures like Michael Saylor, Justin Sun, and JD Vance, the Vice President. The sixth annual event is expected to draw over 30,000 attendees.

According to the organizers, the conference will delve into topics such as adoption, regulation, and innovation in the cryptocurrency space.

In other news, Trump Media & Technology Group (TRMTG) has denied reports that it plans to raise $3 billion to buy bitcoin.

The company, founded by former President Donald Trump, refuted a Financial Times article claiming that Trump Media is planning to sell $2 billion in equity and $1 billion in convertible bonds to fund a bitcoin purchase.

"The sources for the Financial Times article appear to be completely wrong and fabricating the story," a Trump Media spokesperson told CoinDesk in an email on Monday.

The report, published on Monday, stated that Trump Media is aiming to capitalize on the success of firms like MicroStrategy and Metaplanet, both of which have used equity offerings to fund bitcoin purchases.

However, the spokesperson asserted that the company has no immediate plans to sell any equity securities.

"We are not planning to sell any equity securities in the near term and do not have any interest in being written up in the Financial Times," the spokesperson added.

Despite the denial, rumors of Trump-linked crypto ventures have been circulating.

Earlier this year, Trump Jr. hinted at the possibility of launching a crypto project in an interview with Blockchains News.

"We're looking at a lot of different things, and we're really excited about what the future holds," Trump Jr. said in March.

Moreover, Trump's recent transfer of a 53% stake in the media firm to a trust managed by Donald Trump Jr. has sparked speculation, especially given the growing involvement of his family members in blockchain and token projects.