More companies are embracing Bitcoin
Bitcoin’s price is currently steady, but there’s a lot going on beneath the surface. Market analysis points to a possible new phase of upward momentum, at a time when Bitcoin companies are in the spotlight around the world. From Japan to Brazil, and even in the world of football, Bitcoin’s role as a strategic asset is growing. More on that in this edition of Bitvavo Market News.
Market update
A lesser-known area of financial market study is cycle analysis. The idea is that markets move in a natural rhythm, with phases of ebb and flow – weakness and strength – alternating over time. These waves occur across different timeframes, with peaks and troughs lining up regularly.
On the highest timeframe, the yearly cycle, we see the familiar pattern of bull and bear markets. For Bitcoin, this cycle has lasted an average of 4 years so far. A yearly cycle is made up of several weekly cycles, which typically last about 20 weeks. In turn, a weekly cycle consists of a few daily cycles, each averaging around 60 days.
Technical analysis helps identify price levels, momentum, and support and resistance zones. Cycle analysis adds timing information to that picture, making it a strong combination. Like all forms of market analysis, it provides probabilities, not certainties. Cycle analysis only tells you where to expect headwinds, and not the exact timing of a low point.
On April 7, a new weekly cycle began for Bitcoin, and the rest of the crypto market followed suit thereafter. We’re now nearing the end of the first daily cycle within that weekly cycle. This phase typically involves some weakness as the market heads towards a local low point, closing the first daily cycle and kicking off the second. From a cycle analysis perspective, the expectation is that the second daily cycle will be upward again.
If that expectation proves correct, it could take us to new all-time highs.
Featured
Bitcoin companies take center stage
Five years ago, Michael Saylor was met with skepticism. The CEO of the company that was then MicroStrategy (now: Strategy) had made a bold move: he converted the company’s cash reserves from dollars into Bitcoin. Today, his company now owns more than 580,000 BTC. What was once seen as a gamble, now appears to have sparked a wider trend. In 2025, Saylor is no longer an outlier, but the figurehead of a growing movement.
More and more companies are building their own Bitcoin reserves. According to Jeff Park, asset manager at Bitwise, these ‘Bitcoin Treasury Companies’ have become some of the most important price drivers in the market. Not because they’re speculating, but because they view Bitcoin as the foundation of their business strategy.
Park highlights three ways companies are putting their Bitcoin treasuries to work:
Through smart financing. Strategy, for example, uses convertible bonds to acquire even more Bitcoin. Other companies are issuing BTC-backed bonds or building new financial products around their holdings.
Through active asset management. Companies are using their Bitcoin to generate returns; through loans, and more advanced strategies that carry higher risk but also potentially higher returns.
Through operational leverage. Firms like Nakamoto are tying their business models not only to the value of Bitcoin, but also to the stock performance of other Bitcoin-focused companies.
What began as a bold experiment is now going global. The past week alone has shown how quickly this movement is growing. In Japan, Metaplanet bought $117 million worth of Bitcoin, bringing its total holdings to 8,888 BTC. Brazilian fintech company Méliuz announced plans to raise new capital specifically to buy Bitcoin, and GameStop, once the poster child of Reddit investors, revealed it has added over 4,700 BTC to the balance sheet.
Interest is also growing beyond the financial sector. Football club Paris Saint-Germain said at Bitcoin 2025 (a major Bitcoin conference held in Las Vegas last week) that it has held Bitcoin since last year and is now actively investing in startups within the Bitcoin ecosystem. In Norway, broker K33 launched a new strategy to hold Bitcoin as a reserve asset. And even at a government level there is now movement; the Pakistani government announced the establishment of a national Bitcoin reserve, while in the US, Vice President JD Vance called Bitcoin a strategic priority for the American economy.
According to Park, Bitcoin companies with a treasure chest full of BTC stole the show in Las Vegas. They are now the largest buyers on the market, and that’s expected to continue. Estimates suggest that $30 billion worth of Bitcoin purchases are lined up for the year ahead.
Other news
The SEC will not step in on Memecoins like $TRUMP. Commissioner Hester Peirce has made it clear that investors should not count on regulator protection, even as these types of tokens see wild price swings. The warning comes at a time when President Trump’s influence in the crypto space is rapidly increasing. Peirce’s message was clear: “Buy at your own risk.”
Trading volume on decentralized exchanges hit $474 billion in May; the second highest monthly total ever. BNB Chain led the way with a record $178 billion, fueled by airdrops and promotional campaigns. Hyperliquid, a DEX for derivatives, listed a monthly volume of $248 billion and earned $70 million in fees. This surge underscores how quickly decentralized platforms are gaining market share.
Banco Santander plans to offer crypto services to users of its digital bank, Openbank. Spain's largest bank is also working on a stablecoin of its own, though those plans are still in their infancy. The move comes in the wake of new EU regulations on digital assets and puts Santander alongside other banks looking to strengthen their foothold in the crypto sector.
Kazakhstan launching pilot zone called CryptoCity, where you can pay with crypto, even for real estate. President Tokayev hopes this regulated testing ground will encourage the use of digital assets. The initiative reflects Kazakhstan’s broader ambition to become a crypto hub in Central Asia. Tokayev’s belief: a crypto economy doesn’t start with legislation, but with a place to experiment.
Satoshi Radio: In the latest episode of Satoshi Radio, the focus shifts to Las Vegas, where a major Bitcoin conference was just hosted. What was the hot topic on the ground? Find out. Listeners also raise other topics, such as Bitcoin's subsidy model and Carl Menger's perspective on HODLing. The episode wraps up with a market update: what can we expect from the coming weeks of trading?
This article is for informational purposes only and does not constitute a marketing communication or recommendation. None of the content herein should be considered as investment advice or a substitute for it. Bitvavo makes no guarantees regarding the accuracy or completeness of the provided information. Investments involve risks. There is a possibility of losing your entire invested capital.