This week was a whirlwind of activity in the crypto world. From Blockchain Capital setting its sights on a hefty $700 million despite a struggling crypto market, to Senator Bernie Sanders blasting the Trump family’s crypto dealings, the news was buzzing.
Meanwhile, seasoned trader Peter Brandt made some bold predictions about Bitcoin’s future, Bitcoin ETFs saw a significant influx, and meme coins experienced a surprising rally. Let’s dive into the details.
Blockchain Capital’s Bold Move
Despite the broader downturn in the cryptocurrency market, Blockchain Capital is ambitiously aiming to raise $700 million for two new funds. The firm is targeting its seventh early-stage vehicle and a second growth fund, both of which are expected to close within the next five to six months. Interestingly, other crypto-focused VC firms have also managed to raise capital in recent months despite the market’s struggles.
Sanders Slams Trump Family’s Crypto Profiteering
Senator Bernie Sanders has sharply criticized the Trump family’s reported profiteering from cryptocurrency and other deals, denouncing these as an “unprecedented kleptocracy.” The White House has since responded to these allegations.
Bitcoin’s Future According To Peter Brandt
Veteran trader Peter Brandt has forecasted an “investable low” for Bitcoin later this year, followed by a major cyclical high in 2029. Brandt’s prediction is based on the historical accuracy of Bitcoin’s 15-year cyclical patterns.
Bitcoin ETFs On The Rise
ETFs have added $2.1 billion in just eight days, coinciding with Bitcoin’s climb from $68,000 to $77,000. The last time such an influx occurred, Bitcoin hit an all-time high. However, the next level poses a challenge as the Short-Term Holder Cost Basis sits at $80,100.
Meme Coins Rally
Meme coins have rallied nearly 20% in the past month, but analysts warn that the gains are concentrated in a few tokens and the sector remains down 75% from its December 2024 peak. The rally may “overstate the sector’s health” as much of the growth came from a few fast-rising assets that distort the real picture.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Image via Shutterstock
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