Bitcoin Drops Below $89,000

On May 14th, based on CoinGecko data, Upbit's trading volume in the past 24 hours reached $2.845 billion, and the 24-hour volume decreased by 37.7%. Among them, the XRP/KRW trading pair accounted for 16.85% of the trading volume and ranked first in the Korean Won market. The remaining top five were: ETH, KAITO, DOGE, BTC.

On May 14th, as of May 13th, the Australian Monochrome Physical Bitcoin ETF (IBTC) held 420 bitcoins, and its AUM reached $67.389 million.

On May 14th, according to the monitoring of ai_9684xtpa, Whale 0xF92...CD1f9 was reported to have swapped 2000 ETH for 51.821 WBTC about an hour ago. The value of this transaction is $5.4 million, and the swap price of ETH is $2709. Since May, they have already sold a total of 15,470 ETH. The total value of these sales is $37.69 million, and the average purchase price per ETH is $2436.

On May 14th, according to alternative data, the Crypto Fear and Greed Index for today increased to 73, which is higher than 70 yesterday (with the average of last week being 67), suggesting that the market sentiment is in a "Greed" state. Note: The threshold of the Fear Index is 0-100 and it encompasses the following indicators: Volatility (25%) + Market Trading Volume (25%) + Social Media Sentiment (15%) + Market Surveys (15%) + Bitcoin's Dominance (10%) + Google Trends Analysis (10%).

On May 14th, the U.S. listed company Semler Scientific announced its financial performance for the first quarter of 2025. The year-to-date BTC return is 22.2%. Currently, it holds 3,808 BTC with a fair value of $387.9 million. The total purchase amount is $340 million (with an average price of around $89,285). On April 15, 2025, Semler Scientific entered into a Master Loan Agreement with Coinbase Credit Inc. (serving as the lender) and Coinbase Inc. (collectively referred to as Coinbase). According to this Master Loan Agreement, the loan will be secured by a priority security interest in the Bitcoin held by Semler Scientific. As of now, Semler Scientific has not borrowed any funds from Coinbase under this loan. However, it plans to use the proceeds (if any) to pay the settlement to the Department of Justice.

On May 14th, according to Coinglass data, the current funding rates of mainstream CEX and DEX show that the market remains in a neutral position rather than being entirely bullish. The specific funding rates for mainstream coins are presented in the attached image. BlockBeats Note: The funding rate is a fee set by cryptocurrency trading platforms to maintain the balance between the contract price and the underlying asset price. It is usually applicable to perpetual contracts and is a fund exchange mechanism between long and short traders. The trading platform does not charge this fee. It is used to adjust the cost or profit of traders holding contracts to keep the contract price close to the underlying asset price. When the funding rate is 0.01%, it represents the baseline rate. When the funding rate is greater than 0.01%, it indicates a generally bullish market. When the funding rate is less than 0.005%, it indicates a generally bearish market.