Bitcoin Returns Above $60K as Some Analysts Talk $100K Again, With Mutuum Finance in the Mix

Disclaimer: The below article is sponsored, and the views in it do not represent those of ZyCrypto. Readers should conduct independent research before taking any actions related to the project mentioned in this piece. This article should not be regarded as investment advice.

Bitcoin has been in the headlines almost nonstop over the past few years — sometimes for bullish runs, sometimes for sharp drops — but in the end, it has kept following its own path. Two years ago, many analysts and the broader market said a $60,000 Bitcoin price was out of reach. Since then, we’ve seen Bitcoin break above the $100,000 mark and, even after the recent pullback, it now trades around $68,000, with fresh calls for another push higher back on the table. As those $100,000 targets return to the conversation, some are also starting to look beyond Bitcoin itself, bringing projects like Mutuum Finance into the mix as potential beneficiaries if the market turns risk-on again.

Bitcoin’s Path

Bitcoin’s path over the past couple of years hasn’t been a straight line at all. After the last big top, when it first pushed past the $100,000 mark, the pullback that followed had many traders convinced the move was over and that those levels wouldn’t be seen again for a long time. Since then, though, Bitcoin has done what it usually does: ignored day-to-day noise and slowly worked its way into a new range. It’s now hovering around $70,000, a level that would have looked unrealistic to most people not too long ago, and once again forcing the market to rethink where the real “top” of this cycle might be.

With that in mind, the current debate isn’t just about whether Bitcoin can revisit $100,000, but what another strong leg higher would mean for the rest of the market. In previous cycles, once Bitcoin settled into higher price bands, liquidity and attention tended to spread outward into the rest of the ecosystem, particularly toward names that are building products, generating fees, or attracting steady user activity.

Mutuum Finance

Mutuum Finance is positioning itself as a structured, decentralised lending and borrowing protocol. The protocol allows users to earn yield by supplying assets or unlock liquidity by borrowing against their existing holdings, using smart contracts instead of centralized intermediaries. In practice, that means a long-term holder does not need to sell their coins to raise liquidity—they can use them as collateral, borrow what they need, and keep their market exposure while the loan is ongoing.

At the center of the ecosystem is Mutuum’s own token, MUTM. Deployed on Ethereum with a total supply of 4 billion tokens, MUTM is currently priced around $0.04. Holders can stake MUTM directly on the protocol and receive dividends funded by the fees Mutuum generates from its operations. A percentage of those fees is used to get MUTM on the open market at the current price, and the purchased tokens are then distributed to stakers. In practice, this means stakers steadily accumulate additional MUTM over time, while the buyback process itself creates ongoing pressure on the token, helping to support the price as protocol usage grows.

Mutuum’s lending layer is built around a dual structure that covers both everyday users and more specialized needs:

• Peer-to-Contract (P2C):
  Here, users deposit assets like ETH, USDC, or wrapped BTC into shared pools and start earning interest as soon as their funds are supplied. Borrowers tap into the same pool instantly at a floating rate that moves with demand. For example, someone can deposit $10,000 in USDC and passively earn yield, while another user can take an immediate loan from that pool without waiting for a specific lender to appear.
• Peer-to-Peer (P2P):
  This side is designed for custom arrangements and long-tail tokens. Lenders and borrowers post or accept individual offers and agree on the asset, collateral, duration, and interest rate. Once a deal is matched—say, a 90-day fixed-rate loan against a niche token—the position is isolated, meaning its performance has no impact on other lenders in the system. This makes P2P suitable for fixed-term, fixed-rate loans and assets that do not fit comfortably in a public pool.

On top of the lending engine, Mutuum is developing an overcollateralized stablecoin that is minted directly from collateral supplied within the protocol. Each unit is backed by on-chain assets, with its value aligned with the U.S. dollar through market mechanisms rather than centralized reserves. Users mint the stablecoin by locking collateral at a defined ratio; when they repay their loan—or if their position is liquidated—the stablecoin is returned and burned, so supply expands and contracts in line with real demand. Because there is no separate deposit pool for this asset, all interest from stablecoin loans flows into Mutuum’s treasury, strengthening the protocol’s reserves over time.

Mutuum also plans to support a stable interest-rate option for borrowers who prefer predictable repayment costs. In certain market conditions, users can lock in a borrowing rate when they open a position, accepting a slightly higher starting rate in exchange for protection against sharp increases in the variable rate. The protocol can rebalance these stable loans if market rates move too far away from the original level, and only selected, more liquid assets will qualify for this feature, reflecting their more reliable pricing and depth.

From a delivery standpoint, Mutuum has begun opening up its infrastructure to public testing. Version 1 of the protocol was recently released on Ethereum’s Sepolia testnet, allowing the community to try core features ahead of mainnet launch and giving the team a visible way to demonstrate progress. According to the project, more than $100 million in liquidity has already been supplied on the testnet, signalling early interest in how the dual-market design and upcoming stablecoin might perform once the protocol goes live on Ethereum’s main network.

Bitcoin’s return to the $70,000 area, after already having crossed $100,000 earlier in the cycle, has brought talk of six-figure targets back into the market and reminded traders how quickly sentiment can turn. As those discussions pick up again, some analysts are also looking at what this could mean for projects building around the edges of the majors. Mutuum Finance is one of the names now appearing in that context, with its v1 lending protocol live on Sepolia testnet, a dual P2C/P2P structure, an overcollateralized stablecoin in the works and the MUTM token tied to protocol fees and staking. Whether Bitcoin runs another rally to $100,000 or not, its latest recovery is already prompting a closer look at how more specialized DeFi protocols might fit into the next phase of the market.

_{Disclaimer: This is a sponsored article, and views in it do not represent those of, nor should they be attributed to, ZyCrypto. Readers should conduct independent research before taking any actions related to the company, product, or project mentioned in this piece; nor can this article be regarded as investment advice. Please be aware that trading cryptocurrencies involves substantial risk as the volatility of the crypto market can lead to significant losses.}