Cell phones contains around 0.034 grams of gold

The BlackRock iShares Bitcoin (BTC) Trust ETF (IBIT) experienced a substantial influx of $970.9 million, making it the second-largest net inflow since its launch in January 2024, based on data from Farside. On Monday, there was a total of $591.2 million in new capital, resulting in significant outflows from rival ETFs such as Fidelity’s FBTC, Bitwise’s BITB, and ARK’s ARKB.

BTC has seen a 7.2% increase in the past seven days, reaching a trading price of $94,900. Since April 22, IBIT has accumulated over $4.5 billion in net inflows, defying market trends.

Industry experts, including Nate Geraci, President of The ETF Store, and Eric Balchunas, Senior Bloomberg ETF Analyst, have taken notice of this surge in investments. Geraci highlighted the nearly $1 billion inflow into iShares Bitcoin ETF, expressing his surprise at the increased demand. Balchunas commented on the positive momentum of ETFs following a setback.

In the derivatives markets, CME Bitcoin Futures’ open interest has been decreasing, currently at 132,750 BTC after four consecutive days of decline, according to CME data. However, there might be a turnaround soon, as the annualized basis yield has risen from 5% to 9% in April, as reported by Velo data. This increase in basis trade profitability could lead to renewed activity and a temporary rebound in open interest.

The significance of these developments lies in the impact on basis trades, where investors capitalize on the price gap between spot bitcoin and bitcoin futures. A high yield encourages more traders to participate in futures trading, thereby increasing open interest. Conversely, a shrinking yield results in reduced engagement in basis trades and signals lower market leverage.

At its peak, the DOGSHIT2 memecoin reached a market cap of over $23 million, though it has since dropped to approximately $2.4 million.

On February 3, 6:30 AM UTC, this article was updated to reflect the correct launch date of DOGSHIT2.

The law firm responsible for the class-action lawsuit against Solana memecoin creator Pump.fun is now tied to a controversial memecoin, DOGSHIT2. The coin, which gained significant attention after reaching a $23 million market cap, is believed to have been launched to help fund the lawsuit.

The lawsuit, filed on January 30 by Burwick Law and Wolf Popper on behalf of investors, accuses Pump.fun of creating unregistered securities and making nearly $500 million in fees. Observers quickly noticed that the wallet address listed in Exhibit C of the court documents matched the one behind DOGSHIT2, leading many to speculate that the law firms are connected to the token.

DOGSHIT2 has seen a surge in activity and value since the lawsuit’s filing, with its market cap reaching over $23 million before falling back to $2.4 million. The token’s price hit a high of $0.003968 on February 2, only to drop by 34%. It has since risen 6% in the past 24 hours.

Burwick Law and Wolf Popper have yet to comment on the connection.

By Johnathan Stevens

Bitcoin (BTC) continues to be on an upward trend, with the largest cryptocurrency reaching a record-high daily close at $106,830. This momentum has led to speculation around bitcoin-leveraged stocks, such as Japan’s MetaPlanet (3350), which has seen a 160% surge in 2025.

MetaPlanet’s aggressive accumulation of bitcoin has fueled investor frenzy, making it the most shorted stock in Japan with 25% of outstanding shares held short. It has repeatedly hit Japan’s daily limit-up threshold, causing a slow-motion short squeeze.

Amidst this, global yields are rising, with Japanese bond yields spiking and U.K. inflation hitting a 15-month high. With bitcoin approaching new highs amidst these economic conditions, markets are experiencing increased volatility.

Key events to watch in the coming days include Bitcoin Pizza Day on May 22 and the launch of FTX repayments on May 30. Additionally, macroeconomic events such as the G7 finance ministers and central bank governors meeting in Banff, Alberta, require close attention.

As the market continues to evolve, it is essential to stay informed and alert. Stay tuned for more updates and developments in the crypto and macroeconomic space.

Johnathan Stevens

The Parrot Press