- The crypto market has shifted back into greed territory with Bitcoin reaching a new all-time high of US$126,198 before retreating.
- Michael Saylor’s Strategy unusually paused its Bitcoin purchases despite the rally, having reported US$3.9 billion in Bitcoin fair value appreciation for Q3 2025.
- US spot Bitcoin ETFs attracted record net inflows last week, with an additional US$220.1 million entering yesterday.
- Bitcoin mining stocks also surged sector-wide led by Hive Digital, driven by renewed optimism, improved fundamentals including expanded hashrate capacity.
Greed has returned to the crypto market. The CoinMarketCap Fear and Greed Index sits at 62, up from a neutral 59 yesterday. Meanwhile, most digital assets are in the green, with Ethereum, Dogecoin, and BNB among the biggest gainers over the past 24 hours.
Bitcoin hit a new all-time high of US$126,198 (AU$190,651) in the early hours of the morning (Australian time), but has since pulled back to US$124,575 (AU$188,199).
Still, despite the strong price action, Michael Saylor’s Strategy (formerly MicroStrategy) didn’t buy the top this time — as it so often does. Saylor didn’t give a reason for the pause in buying but said in one post on X that “MicroStrategy reports $3.9 billion in total Bitcoin fair value appreciation in Q3 2025.”
Instead of buying himself, in another post Saylor encouraged YouTuber MrBeast to buy Bitcoin.
Saylor’s comments came in response to a post by MrBeast, where the creator wondered what would happen to creators and YouTube if AI keeps evolving and AI-made videos continue to improve.
So, if Saylor wasn’t the one buying, many wondered who was. Entrepreneur and crypto commentator Mike Alfred said bears believed that “Saylor was the only person buying.”
Related: JPMorgan Says Bitcoin Could Hit US$165K by Year-End
ETF Inflows Take the Lead
Well, it turns out US spot Bitcoin ETFs were behind much of the price action. Last week, US$3.23 billion (AU$4.89 billion) in net inflows entered US funds alone — with another US$220.1 million (AU$332.2 million) added yesterday.
Bitcoin mining stocks also rallied sharply, with Hive Digital leading a sector-wide surge as peers like Bitfarms, Riot, Marathon, and CleanSpark also posted strong gains. The upswing reflects renewed Bitcoin optimism and improved miner fundamentals, driven by expanded hashrate capacity, rising production, and growing BTC reserves across major firms.
Jean-David Péquignot, chief commercial officer at Deribit by Coinbase, said the Bitcoin surge was driven by what he called a “perfect storm of macroeconomic tailwinds”, amid the US government shutdown, falling exchange supplies, and record ETF inflows.
“ETF demand is squeezing supply, while seasonal optimism and geopolitical agitation position BTC as a prime hedge against inflation,” he said.
Related: Coinbase Seeks Federal Trust Charter to Bolster Regulatory Standing
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