Daily Crypto Signals: Bitcoin Tests $106K Resistance, Solana Sees Corporate Adoption Surge
Bitcoin struggles to break through key resistance levels as institutional interest in Solana grows, with education company Classover
Quick overview
- Bitcoin is struggling to surpass the $106,000 resistance level, with signs of profit-taking among holders.
- Classover has announced a $500 million convertible note deal to build strategic reserves in Solana, indicating growing institutional interest.
- The BNB Chain ecosystem continues to thrive, processing over 100 million transactions weekly and boasting a total value locked of $6.1 billion.
- Institutional adoption of digital assets is on the rise, as evidenced by new ETF filings and significant acquisitions by companies like Robinhood.
Bitcoin struggles to break through key resistance levels as institutional interest in Solana grows, with education company Classover announcing a massive $500 million convertible note deal to build strategic SOL reserves. Meanwhile, major acquisitions and new ETF filings signal continued institutional expansion into digital assets.
Crypto Market Developments
The cryptocurrency industry is going through a time of consolidation and institutional growth. Bitcoin is having trouble breaking through the $106,000 level, while other cryptocurrencies are becoming more popular with corporate investors. Recent events reveal a strong trend toward institutional adoption. For example, Classover is switching to crypto treasury strategies, while traditional financial services companies like Robinhood are making big purchases to add more digital assets to their products.
Market dynamics show a mixed mood, with Bitcoin holders selling off their holdings to take profits and fresh money flowing into Solana-focused projects. The rise of Trump-related crypto projects, such as a proposed Truth Social Bitcoin ETF, adds a political element to the changing rules. Trading volumes on key networks are still high, with BNB Chain processing more than 100 million transactions each week and the ecosystem continuing to grow quickly.
Bitcoin Testing Key Resistance at $106,000
Bitcoin BTC/USD is currently testing important resistance levels around $106,000. It has bounced back about 3% from its weekend lows. There are a lot of technical problems with the cryptocurrency. There is a supply congestion zone between $106,000 and the previous all-time high of $109,000 that is very hard to get through. Bitcoin was turned down from this level on January 31, and it dropped 27% to $78,000, showing how important this price range is.
On-chain data shows worrying signs for Bitcoin’s short-term path. According to Glassnode research, the number of momentum buyers has dropped a lot, with their RSI falling to 20. On the other hand, the number of profit-takers has risen, with an RSI of 77. This difference generally means that local market tops are near since traders are starting to lock in profits instead of building up positions. Also, 96% of Bitcoin’s supply is still making money, which is a sign of a market that is too hot and is about to correct itself.
Market structure study suggests that there is about $263 million in bid liquidity below $97,750. This could help during a big drop. But analysts are doubtful that Bitcoin can reach new all-time highs in the foreseeable future without a big change in price. The spent output profit ratio (SOPR) shows that the average coin is making a 16% profit. Historically, less than 8% of trading days have been more rewarding for investors.
Even while more people are taking profits, the market hasn’t reached the euphoric state that usually happens at the end of a long-term price top. NYSE Arca submitted a proposed Truth Social Bitcoin ETF on behalf of Yorkville America Digital. This is another step in Bitcoin’s story of being adopted by institutions, but the SEC has up to 240 days to look over the proposal.
Classover Plans Strategic Solana Reserve
Solana SOL/USD is seeing more companies use it than ever before, thanks to Classover’s breakthrough announcement of a $500 million strategic reserve project. The K-12 education corporation aims to use 80% of the money it makes from senior convertible notes to buy SOL tokens. This is a big change in how companies manage their money. Classover has already bought 6,472 SOL tokens, which are worth almost $1.1 million, as its first stake.
Classover could use the convertible note issuance, which was made possible by a partnership with Solana Growth Ventures, to add to its current $400 million stock purchase deal. Together, these ways of getting money give the corporation up to $900 million in Solana buying power. This is one of the biggest corporate pledges to SOL tokens so far.
SOL Strategies is trying to get regulatory approval to raise up to $1 billion for SOL staking activities, while Nasdaq-listed Upexi’s shares jumped 630% after the company announced a $100 million raise with 90% of the money going to SOL acquisitions. The increasing demand from publicly traded firms shows that Solana is a good alternative to traditional treasury assets.
The market has reacted quite positively, with Classover shares reaching $5.45 on Nasdaq, a 46.5% rise in value during the day after the announcement. This approval of Solana’s value proposition as a treasury asset by a business could lead to similar actions by other businesses looking for a wider range of digital assets.
BNB Chain Ecosystem TVL on the Rise
BNB Chain BNB/USD is still showing amazing growth in its ecosystem. As of June 2, 2025, there were more than 7.2 million active addresses and 102 million transactions each week. The network has more than $6.1 billion in total value locked (TVL), and the BNB token saw $1.52 billion in trade volume in 24 hours. This shows that the network is being used a lot.
The ecosystem is strong because it has a wide range of projects. For example, decentralized applications handle 14.16 million transactions every day in areas like DeFi, gaming, AI, and real-world assets. BUILDon (B) is a notable project that has turned from a memecoin into a DeFi asset linked to Trump-backed World Liberty Financial’s USD1 stablecoin. It has a 24-hour volume of $536.7 million.
BSquared Network (B2) is a new Bitcoin layer-2 technology that uses zero-knowledge rollups and runs on BNB Chain. It has more than 26,000 active traders and a daily volume of $371 million. The 48 Club Token (KOGE) is one of the oldest organized investment groups on the chain. It is in charge of the BNB48 Club DAO and has a trading volume of $209.9 million.
Projects like Allo (RWA) help new areas like real-world asset tokenization grow, while AI infrastructure projects like SkyAI show how the chain can adapt to new technology. BNB Chain is a full blockchain environment that supports both classic DeFi apps and new Web3 innovations. This is because it works with a wide range of verticals.
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