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Crypto

Adam Back revisits bitcoin indicator as long-term uptrend structure holds

Bitcoin’s 200-week moving average has moved above $61,000, prompting an assessment that its long-term uptrend structure remains intact. Blockstream CEO Adam Back highlighted the rise again on social media, pointing to it as a structural strength signal. The indicator, which reflects about four years of weekly closes, has risen about $1,000 in less than a month after crossing $60,000 in early May. Market watchers say further gains depend on sustained demand.

Finance

Berkshire sells entire stakes in Visa, Mastercard; not due to performance

Berkshire Hathaway has sold its entire stakes in Visa and Mastercard, prompting market focus on whether the move signals a broader portfolio reshuffle. A quarterly report showed Berkshire also fully exited some holdings such as Amazon. The sales are being read as the first major rebalancing under Greg Abel, who is effectively leading portfolio management, and may reflect a move away from positions linked to Todd Combs. Visa’s recent business indicators were described as solid.

Crypto

Bitcoin has 77 percent chance of new high within a year if past pattern repeats

Bitcoin has a 77 percent chance of setting a new record high within a year if its current pattern matches past moves, an analysis said. Network economist Timothy Peterson reviewed instances when Bitcoin recovered from a 50 percent drop to a 35 percent drop and found that 7 of 9 cases were followed by a new all-time high within a year. Market optimism has also continued this month, including a $160,000 per-coin estimate from VanEck’s Matthew Sigel.