Newsletter

CCM Blockchain Newsletter (May 27, 2025)

Bitcoin surged to an all-time high last week while stocks fell slightly.

Christian Lopez

27 May 2025 — 5 min read

Happy Tuesday, everyone. Hope you all had a great Memorial Day weekend. Welcome back to this week’s market newsletter. Please see below this week’s market data.

CCM Digital Weekly Market Update (2025.05.23)

CCM Digital Weekly Market Update (2025.05.23).pdf

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Bitcoin Market Update and News

Bitcoin surges to all-time high near $112,000: Bitcoin climbed to a new all-time high last week, nearly topping out at $112,000. At the time of publication, bitcoin is up 4.5% week-over-week to $109,700, 17.5% year-to-date, and 60.8% year-over-year.
J.P. Morgan will now allow clients to buy bitcoin: J.P. Morgan CEO Jamie Dimon announced at the bank’s annual investor day that it will now allow clients to buy bitcoin, but it will not offer custody services. "We are going to allow you to buy it. We're not going to custody it. We're going to put it in statements for clients,” the CEO said. This marks a stark departure from Dimon’s historically sharp opposition to the cryptocurrency.
Bybit exchange now offers stock trading: Crypto exchange Bybit has rolled out stock trading pairs with USDT. The integration allows users to purchase 78 major global stocks, including Apple, Tesla, Meta, Nvidia, and Amazon. Bybit stock trading will adhere to the U.S. stock market business hours (weekdays 9:30am to 4:00pm).

Interesting Reads and Videos

Bitcoin Treasury Updates

Metaplanet adds 1,004 BTC to treasury, rockets to all-time high: The Japanese Microstrategy, Metaplanet, hit an all-time high of $15.35 last week and closed the week up 44.5%. Year-to-date, Metaplanet is up 213%. The company increased its bitcoin holdings last week with a 1,004 BTC purchase for $104.3 million, its second largest ever, which increased its total holdings to 7,800 BTC. Metaplanet financed its most recent purchase with zero-coupon bonds and equity offerings.
Smarter Web Company hits all-time high as it adds to bitcoin treasury: The recently christened bitcoin treasury company, Smarter Web Company, closed last week up 110% after hitting an all-time high of $68.20. The company purchased 39.51 BTC last week to add to its bitcoin treasury, which now stands at 58.71 BTC. The Smarter Web Company is a web development and design company that IPOed on the Aquis exchange in the U.K. in April.

Market Overview

Equities pare back prior week’s gains, fall slightly: Stocks fell last week, with major indices declining almost in lock step with each other. The declines forfeited some of the gains these indices made the week prior, which was one of the strong showing for stocks in recent memory.
- S&P 500: $5,802.82 (-2.6%)
- Dow: $41,603.07 (-2.5%)
- Nasdaq: $18,737.21 (-2.5%)
- Russell 2000: $2,039.85 (-3.5%)

U.S. House passes One Beautiful Bill Act: The Big Beautiful Bill is on its way to the Senate after the House of Representatives passed the budget and tax bill by a 215-214 vote on May 22. The bill extends tax cuts from 2017, neutralizes taxes on tips and overtime, includes an enhanced standard deduction up to $4,000 for seniors, and raises the state and local tax deduction cap from $10,000 to $40,000. The bill also increases the defense budget by $150 billion and includes $70 billion for border security. The Congressional Budget Offices forecasts that the bill could increase the Federal budget deficit by $3 billion over the next decade.

U.S. 30-year spikes: 30-year U.S. Treasury Bonds surged above 5% last week to as high as 5.15%, the highest since October 2023, before closing the week at 5.03%. The 10-year-, 5-year, and 2-year also rose but more modestly. The rally in bond yields isn’t contained to the U.S. – major government bonds have been on the up-and-up since the beginning of May.

Dollar continues to decline: As bond yields rise, the dollar is getting dinged. The DXY fell 2% last week to 99.10. Year-to-date, the DXY is down nearly 10% as the dollar depreciates against other major currencies.
Average U.S. 30-year mortgage nears 7%: According to Freddie Mac, the average 30-year mortgage in the U.S. is now 6.86%. Rates increased last week amid a rally in yields for U.S. treasuries, most notably the 30-year. In October 2023, the average 30-year mortgage rose to 7.79%, the highest since December 1999.

Existing-home sales in April slowest for month since 2009: The National Association (NAR) of Realtors reported that existing-home sales dropped 0.5% in April to 4 million, a 2% increase year-over-year and the slowest rate for the month of April since 2009. The median existing-home price rose to $414,000, a 1.8% increase year-over-year and a record high for the month of April. Housing inventory increased by 9.0% from March and 20.8% from a year ago, totaling 1.45 million units. This represents a 4.4-month supply at the current sales pace, the highest in nearly five years. NAR Chief Economist Lawrence Yun said that home sales have been approximately 75% of pre-pandemic levels for the past three years.
New-home sales rise substantially in April: The U.S. Census Bureau reported that sales for new homes rose 10.9% in April from March at a seasonally adjusted annual rate of 743,000 units. This is the highest read since February 2022. The median new home sales price increased to $407,200 in April from $403,700 in March but fell 2.0% year-over-year. New home inventory fell slightly from March to 504,000. Approximately 34% of builders reduced home prices in May, the highest share since December 2023, with an average price reduction of 5%.
Gold bounces back: Gold rose roughly 6% last week, closing at $3,350/oz as the precious metal rebounds from a dip to $3,180 two weeks ago. Gold is up 26% year-to-date and 41% year-over-year.
Oil falls slightly: Oil prices declined marginally last week amid concerns over demand and an anticipated increase in output from OPEC+ members. WTI Crude closed down 1.5% to $62.49/barrel while Brent Crude fell 1% to $65.41/barrel.

The week ahead in data:

S&P-Case Shiller 20-City Composite Home Price Index (Tuesday)
Conference Board Consumer Confidence Index (Tuesday)
U.S. Census Bureau durable goods orders report (Tuesday)
May 6-7 Federal Reserve meeting minutes (Wednesday)
U.S. Bureau of Economic Analysis second estimate of Q1 GDP (Thursday)
U.S. Department of Labor weekly unemployment report (Thursday)
National Association of Realtors pending home sales report (Thursday)
U.S. Bureau of Economic Analysis Personal Consumption Expenditure Price Index (Friday)
University of Michigan Consumer Sentiment Index (Friday)

Notable corporate earnings this week: