News

Jinse Finance reported that Nasdaq-listed company Prenetics officially disclosed that it has increased its holdings by 6 bitcoins this week, bringing its total bitcoin holdings to 504. The year-to-date bitcoin yield is 435%. In addition, according to the company's CEO Danny Yeung, the executive team has invested $1.45 million to repurchase approximately 60,000 shares of the company from the open market.

Jinse Finance reported that after several weeks of strong sell-offs, Bitcoin may be forming a short-term bottom. A market analyst believes that market conditions are now in place to support a rebound in Bitcoin toward the $100,000–$110,000 range. Trader Mister Crypto stated that Bitcoin's short-term structure is showing signs of stabilization following what he described as "capitulation selling." He pointed out that indicators related to trader behavior show that as market sentiment plunged into extreme fear, large players have started to open new long positions—a combination that has historically signaled a rebound during downturns. One of the main technical signals he cited is the RSI (Relative Strength Index) on Bitcoin's weekly chart, which is currently approaching the 30 level. He said, "We are seeing the bottom for Bitcoin right here. RSI is already near 30. Boom (bottomed out)." The analyst noted that in previous cycles, this area has often closely coincided with market bottoms. Although he cautioned that this does not guarantee a new bull market has begun, it usually signals at least a short-term reversal. Another factor supporting the rebound view is the current distance between Bitcoin and the 50-week moving average (around $102,000). According to the analysis, in past cycles, after Bitcoin fell below this moving average, it often rebounded back to this level. The current expectation is that Bitcoin may see a rebound, pushing the price back into the six-figure range, before a deeper trend might develop in the future. The macro environment is also adding to short-term optimism. He pointed out that the market expects quantitative tightening (QT) may be coming to an end, and there is speculation that another rate cut could occur at the upcoming monetary policy meeting. These two developments typically ease financial conditions, which is favorable for risk assets like Bitcoin.