Author: BTCLFGTEAM

  • Bitcoin falls to $103K, options skew hits 3-month low as mideast tensions drive oil prices higher

    Bitcoin falls to $103K, options skew hits 3-month low as mideast tensions drive oil prices higher

    Bitcoin falls to $103K, options skew hits 3-month low as mideast tensions drive oil prices higher

    A sharp escalation in Middle East tensions sent shockwaves through global financial markets in the early Asian trading hours, triggering a significant spike in oil prices and prompting a flight to safety.

    Bitcoin (BTC) was not immune to the turmoil, experiencing a notable price drop as traders scrambled for downside protection, evidenced by a dramatic crash in short-term options skew.

    The seven-day skew for Bitcoin options, a key metric that measures the relative cost of bullish calls versus bearish puts listed on Deribit, plummeted to -3.84%.

    This marked its lowest point since April 16, according to data from Amberdata.

    In practical terms, this means put options, which offer traders protection against price declines, became the most expensive relative to call options in three months.

    The surge in demand for these protective puts also dragged the 30-day and 60-day skews into negative territory, signaling a broader shift towards caution among market participants.

    Traders typically purchase put options either to hedge existing long positions in the spot or futures markets or to directly profit from an anticipated fall in prices.

    The clear preference for puts indicates a growing unease about Bitcoin’s near-term trajectory amidst the heightened geopolitical uncertainty.

    Bitcoin’s price reflected this nervousness, falling to its 50-day simple moving average (SMA) at $103,150, extending its 24-hour losses to 4.59%, according to CoinDesk data.

    This decline represented a significant retreat from earlier in the week when prices had briefly topped the $110,000 mark.

    Market bulls are now likely hoping that the 50-day SMA will provide a crucial support level, as a sustained break below it could attract further selling pressure, a pattern observed when this support level failed back in February.

    Oil surges as geopolitical cauldron boils over

    The catalyst for this market turbulence was a dramatic escalation in the Middle East.

    The per-barrel price of WTI crude oil surged by over 6% to $74.30, reaching its highest level since February 3 and extending its weekly gain to an impressive 13%, according to data from TradingView.

    This sharp upward movement in oil prices reportedly followed news of Israeli airstrikes on Iran, which supposedly drew retaliatory missile action from Tehran, though details remained fluid.

    Inflationary shadows and Fed policy under scrutiny

    Sudden and significant spikes in oil prices tend to have a global inflationary impact, and this latest surge is no exception.

    Concerns are now mounting that this could inject fresh inflationary pressures into economies worldwide, at a time when President Donald Trump’s ongoing trade war already threatens to disrupt economic stability and fuel inflation, particularly in net-importer countries.

    This confluence of factors could significantly dent market expectations for Federal Reserve rate cuts.

    If inflation re-accelerates, the Fed may be less inclined to ease monetary policy, potentially adding to downside volatility in both stocks and cryptocurrencies.

    As of writing, futures tied to the S&P 500 were trading 1.5% lower on the day, reflecting the broader risk-off sentiment.

    Traditional markets reel from geopolitical shock

    The reaction in traditional markets was swift and pronounced. US stock index futures were down approximately 1.5% across the board following the news from the Middle East.

    European market futures mirrored this decline, also trading down by roughly the same margin.

    In a classic flight to safety, bond prices moved higher as investors sought refuge from the volatility.

    Gold, another traditional safe-haven asset, also saw increased demand, adding about 0.75% in the past hour to trade at $3,428 per ounce.

    Crude oil, as previously noted, had soared by an even more dramatic 9% to $74 per barrel in the immediate aftermath of the reports.

    The 10-year Treasury yield dipped two basis points to 4.32%, indicating increased demand for US government debt.

    Currency markets also reflected the shifting risk landscape, with the US dollar gaining against the euro and the British pound, but losing ground against traditional safe-haven currencies like the Japanese yen and the Swiss franc.

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  • Ether outperforms Bitcoin in May; ETH derivatives volume surpasses BTC on OKX

    Ether outperforms Bitcoin in May; ETH derivatives volume surpasses BTC on OKX

    Ether outperforms Bitcoin in May; ETH derivatives volume surpasses BTC on OKX

    • Ether (ETH) at $2,770, up nearly 11% this month, outperforming Bitcoin’s (BTC) 5% rise.
    • ETH (45.2%) now overshadows BTC (38.1%) in trading volume on OKX’s perpetual futures market.
    • Despite BTC volatility, institutions are “buying the dips,” with long-term holder supply growing, per Glassnode.

    As Asian markets kicked off their Thursday trading, Ether (ETH) was changing hands at $2,770, having demonstrated robust performance throughout the month.

    This strength, particularly in derivatives markets where it’s reportedly overshadowing Bitcoin (BTC), signals a growing institutional appetite for Ethereum’s structural growth potential and its pivotal role in bridging decentralized finance (DeFi) with traditional finance (TradFi).

    Meanwhile, the broader crypto landscape is seeing a significant surge in stablecoin activity, with Tron emerging as a key beneficiary.

    Ether has notably outperformed Bitcoin this month, with CoinDesk market data showing an almost 11% rise for ETH compared to BTC’s 5% gain.

    This divergence is partly attributed to increasing institutional trading demand for Ethereum. Lennix Lai, Chief Commercial Officer at crypto exchange OKX, told CoinDesk in an interview that sophisticated investors are increasingly betting on ETH, a trend evident in its derivatives market activity.

    “Ethereum is overshadowing BTC on our perpetual futures market, with ETH accounting for 45.2% of trading volume over the past week. BTC, by comparison, sits at 38.1%,” Lai revealed.

    This finding aligns with similar trends observed on other major derivatives platforms like Deribit, as CoinDesk recently reported, suggesting a significant shift in how institutional players are allocating capital within the crypto space.

    This isn’t to say that institutional interest in Bitcoin has waned. A recent report from on-chain analytics firm Glassnode indicates that despite Bitcoin’s recent price volatility, institutions have been actively “buying the dips.”

    Glassnode’s analysis showed that long-term holders (LTHs) realized over $930 million in profits per day during recent BTC rallies, a distribution level rivaling those seen at previous market cycle peaks.

    Remarkably, instead of triggering a broader sell-off, the supply held by these LTHs actually grew.

    “This dynamic highlights that maturation and accumulation pressures are outweighing distribution behavior,” Glassnode analysts wrote, noting that this is “highly atypical for late-stage bull markets.”

    Despite these underlying strengths, both leading cryptocurrencies remain susceptible to geopolitical risks and unpredictable “black swan” events, such as the recent public dispute between US President Donald Trump and tech billionaire Elon Musk.

    Such episodes serve as stark reminders that market sentiment can shift rapidly, even within structurally strong markets.

    However, beneath this surface-level volatility, institutional conviction appears to remain intact.

    Ethereum is increasingly being viewed as the preferred vehicle for accessing regulated DeFi opportunities, while Bitcoin continues to benefit from long-term accumulation by institutions, often via Exchange Traded Funds (ETFs).

    “Macro uncertainties remain, but $3,000 ETH looks increasingly likely,” Lai concluded, offering a bullish outlook for Ethereum’s near-term price potential.

    Stablecoin surge: liquidity pours in, Tron leads the charge

    The stablecoin market is experiencing a significant boom, recently hitting an all-time high market capitalization of $228 billion, marking a 17% increase year-to-date, according to a new report from CryptoQuant.

    This surge in dollar-pegged liquidity is being driven by renewed investor confidence, buoyed by factors such as the blockbuster Initial Public Offering (IPO) of stablecoin issuer Circle, rising yields in DeFi protocols, and improving regulatory clarity in the US This influx of capital is quietly redrawing the map of where liquidity resides on-chain.

    “The amount of stablecoins on centralized exchanges has also reached record high levels, supporting crypto trading liquidity,” CryptoQuant reported.

    Their data indicates that the total value of ERC20 stablecoins (those built on Ethereum) on centralized exchanges has climbed to a record $50 billion.

    Interestingly, most of this growth in exchange stablecoin reserves has been a result of the increase in USDC reserves on these platforms, which have grown by 1.6 times so far in 2025 to reach $8 billion.

    When it comes to the blockchain protocols benefiting most from these stablecoin inflows, Tron has emerged as the clear leader.

    Tron’s combination of fast transaction finality and deep integrations with major stablecoin issuers like Tether is credited with making it a “liquidity magnet.”

    Presto Research, in a recently released report echoing these findings, noted that Tron notched over $6 billion in net stablecoin inflows in May alone.

    This figure topped all other chains and positioned Tron with the second-highest number of daily active users, just behind Solana.

    Tron was also the top performer in terms of native total value locked (TVL) growth.

    In contrast, both Ethereum and Solana experienced significant stablecoin outflows and losses in bridge volume during the same period, according to Presto’s data.

    This suggests a potential lack of new yield opportunities or major protocol upgrades attractive enough to retain or draw in fresh stablecoin capital on those networks.

    Presto’s data confirms a broader trend: institutional and retail capital alike are increasingly rotating towards alternative Layer 1 and Layer 2 solutions like Base, Solana (despite recent outflows, it still attracts users), and Tron.

    The common denominators among these favored chains appear to be faster execution speeds, more dynamic and evolving ecosystems, and, in some cases, more substantial incentive programs.

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  • XRP eyes fresh gains as Bitcoin correlation hits 0.91, RSI turns bullish

    XRP eyes fresh gains as Bitcoin correlation hits 0.91, RSI turns bullish

    • RSI remains above 50, indicating bullish momentum.
    • Resistance targets include $2.38 and $2.50.
    • A drop below $2.20 could invalidate the current rally.

    XRP appears to be aligning itself closely with Bitcoin’s performance, as fresh data shows a 0.91 correlation between the two cryptocurrencies.

    With Bitcoin hovering near $110,000, this unusually tight relationship is strengthening the case for a potential price surge in XRP.

    Technical indicators like the Relative Strength Index (RSI) also suggest a build-up of buying pressure.

    As broader market momentum improves, XRP’s price action is increasingly seen as part of a larger bullish wave across the crypto space, raising the possibility of a breakout beyond its current range.

    Strong Bitcoin correlation boosts XRP

    XRP’s 0.91 correlation with Bitcoin highlights a clear pattern: the altcoin tends to rally when Bitcoin moves upward.

    This current high correlation is particularly significant, given Bitcoin’s attempt to breach its previous all-time highs.

    Historically, XRP has often mirrored Bitcoin’s trends, especially during strong bull cycles.

    When the correlation weakens, XRP usually underperforms, but with the metric climbing again, traders are taking this as a potential bullish signal.

    Bitcoin’s recent stability near the $110,000 mark is reinforcing this sentiment.

    Market watchers note that when BTC remains strong at key levels, altcoins like XRP typically gain in both price and volume.

    This is setting the stage for XRP to maintain upward momentum in the near term, especially if Bitcoin continues to test resistance levels above $110,000.

    RSI supports a bullish trend for XRP

    One of the key indicators showing positive momentum for XRP is the Relative Strength Index (RSI), which currently remains above the neutral 50 mark.

    This signals an increase in buying activity, with bulls maintaining control over the asset.

    If the RSI continues in this direction, XRP could build up the strength needed to challenge higher resistance zones.

    Momentum-based traders are likely to keep a close eye on this trend.

    With the RSI staying above the halfway line, it reflects sustained interest in the token from both retail and institutional players.

    The technical structure now favours buyers, as the RSI has consistently held in the bullish range for several days.

    This upward pressure could catalyse a fresh move in the altcoin’s price.

    XRP stabilises above support, targets new resistance

    XRP is currently trading at $2.33. The altcoin has managed to hold above the $2.27 support level, a crucial zone for maintaining its bullish setup.

    XRP price
    Source: CoinMarketCap

    Should XRP continue to hold this level, the next target would be the $2.38 resistance, which has previously acted as a strong ceiling.

    A break above $2.38 and a successful retest as support could propel XRP towards $2.50, a level that would reinforce its bullish momentum.

    However, a failure to defend $2.27 could open the door to short-term weakness.

    Key downside targets include $2.20 and $2.13, with a move below these levels risking a complete invalidation of the recent uptrend.

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  • Bitcoin reclaims $110K; DeFi tokens surge

    Bitcoin reclaims $110K; DeFi tokens surge

    Bitcoin tops $110K for 2nd day; altcoins UNI, AAVE rally on SEC Chair comments

    • Bitcoin (BTC) traded above $110,000 for a second day, up over 1% in 24 hours, buoyed by altcoin rally.
    • DeFi tokens UNI (+24%) and AAVE (+13%) surged following optimistic comments from SEC Chair Paul Atkins.
    • Despite price gains, market sentiment remains cautious, with low funding rates (1.3%) typically seen at bottoms.

    Bitcoin (BTC) revisited the $110,000 level for the second day in a row on Tuesday, seemingly pulled higher by even more substantial gains among various altcoins.

    However, despite this upward movement, a prevailing sense of caution and skepticism among traders suggests that the sustainability of this breakout remains in question.

    Bitcoin was trading just above $110,000 shortly after the close of U.S. stock markets on Tuesday, marking a gain of over 1% in the preceding 24 hours.

    The broader cryptocurrency market, as measured by the CoinDesk 20 index—which tracks the top 20 cryptocurrencies by market capitalization (excluding stablecoins, exchange coins, and memecoins)—had risen by a more significant 3.3% over the same period.

    This broader rally was largely attributed to strong performances from major altcoins such as Ether (ETH), Solana (SOL), and Chainlink (LINK), all of which posted gains in the 5%-7% range.

    The most impressive performances of the day, however, came from decentralized finance (DeFi) tokens Uniswap (UNI) and Aave (AAVE).

    These tokens soared by a remarkable 24% and 13%, respectively.

    This surge was reportedly prompted by optimistic comments regarding DeFi made by Securities and Exchange Commission (SEC) Chair Paul Atkins on Monday, which appeared to inject fresh enthusiasm into the DeFi sector.

    In contrast, the traditional equity markets linked to cryptocurrency showed a more subdued picture, with most crypto stocks trading flat on the day.

    A notable exception was Semler Scientific (SMLR), a company aiming to emulate MicroStrategy’s (MSTR) strategy of accumulating significant Bitcoin holdings.

    Semler Scientific’s shares fell another 10% on Tuesday, with the stock now trading for less than the value of the Bitcoin on its balance sheet, highlighting the risks associated with such strategies.

    Defensive posturing despite proximity to highs

    Despite Bitcoin’s recent gains and its proximity to previous all-time highs, positioning across cryptocurrency markets continues to reflect a largely defensive and cautious sentiment among traders.

    “Funding rates and other leverage proxies point toward a steadily cautious sentiment in the market,” Vetle Lunde, head of research at K33 Research, pointed out in a Tuesday report.

    “The broad risk appetite is remarkably weak, given that BTC is trading close to former all-time highs.”

    This observation suggests that traders are not fully convinced of the rally’s strength and are hesitant to take on excessive risk.

    Lunde further noted that Binance’s BTC perpetual swaps posted negative funding rates on multiple days last week, with the average annualized funding rate now sitting at just 1.3%.

    This level, he explained, is typically associated with local market bottoms rather than tops.

    “Bitcoin does not usually peak in environments with negative funding rates,” Lunde wrote, adding that past instances of such defensive positioning have more often preceded rallies than significant corrections.

    Flows into leveraged Bitcoin ETFs paint a similar picture of cautious engagement.

    The ProShares 2x Bitcoin ETF (BITX) currently holds exposure equivalent to 52,435 BTC, which is well below its December 2023 peak of 76,755 BTC.

    Inflows into such products remain muted.

    According to Lunde, this defensive positioning, paradoxically, leaves room for a potential “healthy rally” in BTC to develop, as it suggests the market is not overly leveraged or euphoric.

    Skepticism greets potential breakout

    However, not all market watchers are convinced that the current price action signals the beginning of a sustainable upward trend.

    Some analysts remain skeptical about the durability of any breakout above the $110,000 level.

    “Is this a true breakout that will continue? In my view, probably not,” said Kirill Kretov, senior automation expert at CoinPanel.

    More likely, it’s part of the same volatility cycle where we see a rally now, followed by a sharp drop triggered by a negative announcement or some other narrative shift.

    According to Kretov, the current market environment favors experienced traders who are adept at navigating volatility-driven market structures.

    From a technical perspective, he identifies Bitcoin’s next key support levels at $105,000 and $100,000.

    These are zones that could be tested if selling pressure re-emerges and the current upward momentum falters.

    The market now watches to see if Bitcoin can consolidate its gains and build a stronger foundation for a continued ascent, or if skepticism will be validated by a retreat from current levels.

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  • BTC trades at $109.7K after weekend surge; Ethereum’s Pectra upgrade boosts institutional staking

    BTC trades at $109.7K after weekend surge; Ethereum’s Pectra upgrade boosts institutional staking

    BTC trades at $109.7K after weekend surge; Ethereum's Pectra upgrade boosts institutional staking

    • Bitcoin (BTC) trades near $110K (at $109.7K), challenging recent “summer stagnation” predictions after a 3.26% weekend surge.
    • QCP Capital noted BTC was “stuck in a tight range,” with signs of fatigue like softening open interest and tapering ETF inflows.
    • Bitcoin’s breakout coincides with US-China trade talks and a $22B US Treasury bond auction, injecting market uncertainty.

    Bitcoin (BTC) is currently trading just shy of the $110,000 mark, changing hands at around $109,700 as the Asian trading week continues.

    This upward momentum challenges a prevailing market narrative that had anticipated a period of summer stagnation, and it comes even as analysts point to underlying signs of market fatigue.

    Meanwhile, developments in the Ethereum ecosystem suggest a significant shift towards institutional adoption, particularly in staking.

    Bitcoin’s surprise move: breaking out of the “tight range”

    The recent price action for Bitcoin has caught some market watchers by surprise. Over the weekend, the leading cryptocurrency surged 3.26%, climbing from $105,393 to $108,801.

    This move was accompanied by a significant spike in hourly volume, reaching 2.5 times the 24-hour average, according to CoinDesk Research’s technical analysis model.

    Bitcoin decisively broke above the $106,500 level, establishing new support at $107,600, and continued its ascent into Monday’s session, briefly touching $110,169.

    This rally comes on the heels of a recent note from QCP Capital which had emphasized suppressed volatility and a lack of immediate catalysts for a major price move.

    QCP’s Telegram note had pointed to one-year lows in implied volatility and a pattern of subdued price action, stating that BTC had been “stuck in a tight range” as summer approached.

    They suggested that a clean break below $100,000 or above $110,000 would be necessary to “reawaken broader market interest.”

    Even with this breakout, QCP had warned that recent macroeconomic developments had failed to spark strong directional conviction.

    “Even as US equities rallied and gold sold off in the wake of Friday’s stronger-than-expected jobs report, BTC remained conspicuously unmoved, caught in the cross-currents without a clear macro anchor,” the note stated.

    “Without a compelling narrative to spark the next leg higher, signs of fatigue are emerging. Perpetual open interest is softening, and spot BTC ETF inflows have started to taper.”

    This context makes Bitcoin’s current push towards $110,000 all the more noteworthy.

    The breakout also coincides with a tense macroeconomic backdrop, including ongoing US-China trade talks in London and a significant $22 billion US Treasury bond auction later this week, both of which have injected uncertainty into global markets.

    While these events could drive fresh volatility, QCP cautioned that recent headlines have mostly led to “knee-jerk reactions” that quickly fade.

    The pressing question now is whether Bitcoin’s move above $110,000 has genuine staying power or if the rally is running ahead of its underlying fundamentals.

    Ethereum’s institutional awakening: staking takes center stage

    While Bitcoin navigates its price dynamics, Ethereum (ETH) is experiencing a potentially transformative shift, with signs pointing towards accelerating institutional adoption, particularly in the realm of staking.

    Critics of Ethereum have often highlighted centralization risks within its ecosystem, but this narrative is reportedly fading as institutional infrastructure matures and recent protocol upgrades directly address past limitations.

    “Market participants will pay for decentralization because it’s in their economic interest from a security and principal protection standpoint,” Mara Schmiedt, CEO of institutional Ethereum staking platform Alluvial, told CoinDesk.

    “If you look at [decentralization metrics] all of these things have massively improved over the last couple of years.”

    Alluvial co-founded Liquid Collective, a protocol designed to facilitate institutional staking, which currently has $492 million worth of ETH staked.

    While this figure may seem modest compared to Ethereum’s total staked volume of around $93 billion, its significance lies in the fact that it originates predominantly from institutional investors.

    “We’re really on the cusp of a truly massive shift for Ethereum, driven by regulatory momentum and the ability to unlock the advantages of secure staking,” Schmiedt noted, highlighting a pivotal moment for the second-largest cryptocurrency.

    Central to Ethereum’s increasing institutional readiness is the recent Pectra upgrade, a development Schmiedt described as both “massive” and “underappreciated.”

    “I think Pectra has been a massive upgrade. I actually think it’s been underappreciated, just in terms of the tremendous amount of change it introduces into the staking mechanics,” Schmiedt said.

    A key component of Pectra, Execution Layer (EL) triggerable withdrawals, provides a crucial compatibility upgrade for institutional participants, including Exchange Traded Fund (ETF) issuers.

    This feature enables partial validator exits directly from Ethereum’s execution layer, aligning with institutional operational requirements such as T+1 redemption timelines.

    “EL triggerable withdrawals create a much more effective path to exit for large-scale market participants,” Schmiedt added.

    Ultimately, she expressed strong confidence in Ethereum’s institutional appeal, stating, “I think we’ll see that a lot more [ETH] in institutional portfolios going forward.”

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  • Bitcoin trades near $107K despite national guard deployment in Los Angeles

    Bitcoin trades near $107K despite national guard deployment in Los Angeles

    BTC price holds steady above $106K amid US domestic tensions, eyes $107K resistance

    • Bitcoin (BTC) climbed towards $107K over the weekend, trading around $106,332 despite U.S. domestic unrest.
    • President Trump deployed 2,000 National Guard troops to Los Angeles amid an immigration-related standoff.
    • BTC showed strong support at $105,400 and broke resistance around $106,100 with strong volume.

    Bitcoin (BTC) continued its steady ascent over the weekend, trading above $105,623.12 and pushing towards the $107,000 mark, even as domestic tensions escalated in the United States, notably in Los Angeles.

    The cryptocurrency market appeared largely unfazed by the unsettling headlines, showcasing a degree of resilience that underscores its growing perception as a hedge against uncertainty.

    The backdrop to Bitcoin’s steady performance was a significant immigration-related standoff in Los Angeles.

    According to a report by CNBC, the situation saw over 100 arrests as clashes persisted between protesters and federal agents.

    This prompted President Trump to authorize the deployment of 2,000 National Guard troops to the area.

    By Sunday morning, elements of the 79th Infantry Brigade had arrived on-site, as confirmed by Northern Command.

    The potential for further escalation was highlighted by Defense Secretary Pete Hegseth, who warned that US Marines stationed at Camp Pendleton could also be mobilized if the violence continued.

    Despite these significant domestic developments, Bitcoin’s price action remained remarkably stable, hovering around $106,332 by Sunday.

    This suggests that crypto investors are, for now, treating the unrest as a localized regional event rather than a systemic crisis capable of derailing the digital asset market.

    Technical picture: consolidation with bullish undertones

    Bitcoin traded within a relatively narrow range over the weekend, fluctuating approximately $1,057 between a low of $105,043 and a high of $106,101, before pushing to its current level around $106,332.

    The price demonstrated a strong rebound after a brief dip below $105,100, with buying interest re-emerging robustly around the $105,400 support level, according to CoinDesk Research’s technical analysis model.

    An early attempt to break out above the $106,100 mark encountered selling pressure, which created a high-volume resistance zone.

    While this upward move was initially short-lived due to some profit-taking, Bitcoin managed to hold onto its gains.

    The overall consolidation structure remains bullish, with a consistent pattern of higher lows hinting at the potential for a sustained push towards the $107,000 level, should the immediate resistance break cleanly.

    This tendency for Bitcoin to attract buyers during dips, despite broader macroeconomic headwinds, further underscores its perceived role as a hedge in times of rising uncertainty.

    Key technical levels and market dynamics

    A closer look at the technical indicators provides further insight into Bitcoin’s recent price action and potential near-term movements:

    • Trading range: BTC traded within a $1,288 range (representing 1.22% of its value) between a low of $105,043.65 and a 24-hour high of $106,332.

    • Resistance break: Initial resistance observed around the 105,900–106,100 zone was decisively broken as prices surged beyond this area with strong trading volume during the early afternoon.

    • Support holds: The support level at $105,400 held firm despite several retests, reinforcing the prevailing bullish sentiment in the market.

    • Breakout and stabilization: A clear breakout to $106,332 occurred around 13:48, which was followed by minor profit-taking activity before the price stabilized above the $106,000 mark.

    • Ascending trend: The hourly chart reveals an ascending trend characterized by consistent higher lows, a pattern that invalidates earlier interpretations of a “pump and dump” scenario.

    • Next target: With current momentum intact, market analysts suggest that BTC may test the $107,000 resistance level, provided that the current support near $105,800 continues to hold.

    This technical picture, combined with Bitcoin’s apparent decoupling from localized domestic strife, paints a cautiously optimistic outlook for the leading cryptocurrency as it navigates a complex global landscape.

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  • Best crypto to buy now as the crypto market reacts to the Trump-Musk feud

    Best crypto to buy now as the crypto market reacts to the Trump-Musk feud

    Best crypto to buy now as the crypto market reacts to the Trump-Musk feud

    • The Trump-Musk feud has triggered massive Bitcoin ETF outflows as the crypto market tumbles.
    • Ethereum ETFs remain strong despite the broader crypto fear.
    • With the Bitcoin Pepe presale ending soon, it could be the best crypto to buy now for high returns, especially once it gets listed.

    The crypto market is currently navigating a wave of uncertainty triggered by the escalating feud between US President Donald Trump and billionaire Elon Musk.

    As the tension between these two influential figures intensifies, investors are closely watching how their clash impacts cryptocurrency sentiment and capital flows.

    This discord has already sent ripples through Bitcoin ETFs, sparking outflows and shifting investor behaviour, while other crypto assets like Bitcoin Pepe, which is currently in the final stages of its token presale, are showing surprising resilience.

    Impact of the Trump-Musk feud on the crypto market

    The fallout from the Trump-Musk feud has significantly influenced market sentiment, pushing the Cryptocurrency Fear & Greed Index from “Greed” to “Neutral.”

    As a result, the global cryptocurrency market cap has dropped by 4% to around $3.35 trillion, as per Coingecko data.

    Notably, major coins including Bitcoin (BTC), Ethereum (ETH), XRP, Binance Coin (BNB), Solana (SOL), and Cardano (ADA), among others, have registered significant drops.

    Amid the worsening investor confidence, Bitcoin ETFs in the United States experienced a sharp reversal, with outflows reaching $278 million on June 5, according to Coinglass data.

    Meanwhile, Ethereum ETFs have bucked this trend, continuing a 14-day streak of inflows despite the overall market jitters.

    The feud itself has drawn widespread political and business attention, fracturing previously supportive alliances and raising questions about future government contracts and national programs linked to Musk’s SpaceX.

    Musk’s claims of credit for Trump’s 2024 election victory, coupled with serious accusations and policy threats exchanged between the two, have intensified market nervousness.

    This high-profile clash has spilled over into public discourse, stirring economic fears and influencing investor decisions across multiple asset classes, including cryptocurrencies.

    Consequently, Bitcoin ETFs have borne the brunt of the sentiment shift, while Ethereum’s improving network fundamentals and strong institutional support have sustained investor interest.

    The best crypto to buy as the broader market drops

    Despite this turbulent backdrop, Bitcoin Pepe has emerged as the standout crypto investment amid market volatility and uncertainty.

    Bitcoin Pepe is a revolutionary meme-centric Layer 2 project built on the Bitcoin blockchain, combining Solana-style scalability with Bitcoin’s unparalleled security.

    Currently, Bitcoin Pepe is in its final presale stage, with just 11 days remaining before the much-anticipated listing announcement expected on June 17..

    What sets Bitcoin Pepe apart is its unique PEP-20 token standard.

    The project also boasts a high-growth roadmap with staking rewards and strategic partnerships.

    In a market shaken by political drama and ETF outflows, Bitcoin Pepe’s blend of cutting-edge technology and strong community appeal makes it a haven for forward-looking investors.

    As established cryptocurrencies struggle to maintain a bullish trend amid the Trump-Musk fallout, Bitcoin Pepe is among the fastest-growing cryptocurrencies, offering fresh excitement and genuine potential for exponential gains.

    Investors seeking a crypto that merges security, usability, and meme culture should consider Bitcoin Pepe’s presale opportunity before it closes.

    With the listing announcement just days away, buying now positions investors to capitalise on early adoption advantages and long-term growth prospects.

    To learn more and to buy Bitcoin Pepe, check out the official website.

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  • BTC holds $101.5K despite tariff news; bullish sentiment for $120K persists

    BTC holds $101.5K despite tariff news; bullish sentiment for $120K persists

    Bitcoin trades over $101.5K; analysts eye $120K amid corporate accumulation

    • Bitcoin trades above $101.5K in Asia, showing resilience despite new U.S. tariff uncertainties.
    • Analysts see continued bull market, with Polymarket traders pricing a 69% chance of BTC hitting $120K by year-end.
    • Pythagoras Investments’ Gabeljic notes BTC’s lower volatility compared to other digital assets amid tariff news.

    Bitcoin (BTC) commenced the Asian trading day holding steady above the $101,500 mark, demonstrating resilience in the face of fresh tariff-related uncertainties emanating from the Trump administration.

    While near-term volatility remains a factor, market analysts and traders appear increasingly focused on a sustained bull market through the remainder of the year, with a significant degree of confidence that Bitcoin will reach or surpass the $120,000 level, underpinned by persistent corporate buying and a notable decline in overall market volatility.

    The current market environment is characterized by a degree of caution, as unexpected tariff increases announced by the Trump administration have introduced some choppiness.

    “The uncertainty from unexpected tariff increases by the Trump administration is causing some volatility,” Semir Gabeljic, director of capital formation at Pythagoras Investments, acknowledged in an email to CoinDesk.

    However, he emphasized Bitcoin’s relative stability amidst these pressures: “However, bitcoin remains relatively strong, with lower volatility compared to other digital assets.”

    This underlying strength is further supported by a persistently bullish sentiment among institutional players.

    Gabeljic highlighted this by noting that traders on the prediction market platform Polymarket are “pricing in a 69% probability that Bitcoin will hit at least $120,000 by year-end.”

    This indicates a strong conviction in Bitcoin’s continued upward trajectory, despite any intermittent market headwinds.

    Echoing this optimistic outlook, FlowDesk, a Paris-based market maker, shared a similar sentiment in a recent note on Telegram, even amidst recently subdued market conditions.

    “The market is clearly coiling, waiting to break out of a narrow band just below all-time highs,” FlowDesk wrote in their market update note.

    They also observed a “significant repositioning and rotation from Bitcoin towards altcoins,” but crucially added that “BTC’s underlying strength remains evident.”

    FlowDesk also pointed to some signs of cautious market behavior, such as a modest decline in BTC funding rates on major exchanges like Binance, which typically suggests a reduction in the use of leverage by traders.

    However, on-chain borrowing activity has reportedly seen renewed vigor, a potential leading indicator that some market participants are anticipating an imminent breakout.

    The unwavering trend of Bitcoin accumulation

    A powerful and enduring narrative bolstering the bullish case for Bitcoin is the continued and accelerating accumulation of BTC by corporate treasuries.

    Listed companies now reportedly hold approximately 809,100 BTC, an amount valued at nearly $85 billion. This figure represents a near doubling of corporate Bitcoin holdings compared to a year ago.

    This significant uptake is being driven by a combination of factors, including favorable regulatory shifts and recent accounting changes that now allow companies to recognize gains on their Bitcoin holdings more readily.

    This trend of corporate adoption underscores a fundamental belief in Bitcoin’s long-term value proposition and its utility as a treasury reserve asset.

    “The expectation of a continued strong bitcoin remains,” Gabeljic affirmed, suggesting that this institutional and corporate buying pressure is a key pillar supporting the market’s current strength and future potential.

    As Bitcoin consolidates and traders navigate short-term uncertainties, the underlying accumulation by larger entities provides a strong foundation for continued optimism.

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  • Pi Coin slumps amid renewed migration activity on Pi Network

    Pi Coin slumps amid renewed migration activity on Pi Network

    Pi Coin under pressure amid fresh Pi Network migration prompts

    • Pi Network users are reporting second migration prompts amid unresolved KYC issues.
    • 276M PI tokens are set to unlock in June, raising sell-off concerns.
    • Currently, Pi Coin trades below $0.66 with bearish technical indicators.

    The Pi Network is facing renewed tension as community frustration grows over a fresh wave of migration prompts and persistent Know Your Customer (KYC) issues.

    These developments have surfaced just weeks before a massive PI token unlock, placing additional pressure on the project’s native token, Pi Coin.

    While the network attempts to revive user engagement through new initiatives like gaming and decentralised apps, the market has responded with declining confidence, reflected in the token’s recent price performance.

    Pi Network users are getting fresh migration prompts

    Many Pi Network users have been frustrated by unexpected second migration prompts showing up in their apps.

    For some, this has come as a shock, especially those who believed they had already completed the initial migration phase.

    On the social media platform X, users, including Pi Network miners who have mined for some time now, have voiced strong criticism, accusing the Pi Core Team of poor communication and inconsistent requirements.

    Frustration is particularly high among those stuck in unresolved KYC verification states.

    These users claim they are being asked to migrate their balances again, despite never completing the first migration due to verification delays.

    Notably, the situation has caused confusion across the community, as the Pi Core Team has not yet officially confirmed a second migration phase through any verified channels.

    276 million PI tokens unlock scheduled for June

    Adding to the mounting concerns, a scheduled unlock of 276 million PI tokens in June looms large according to data from PiScan.

    Valued at approximately $176 million, this influx of supply could potentially flood the market.

    With trading volumes currently subdued and investor sentiment fragile, analysts warn that this event might lead to significant downward pressure on the Pi Coin price.

    The Pi Core Team’s silence regarding major bullish developments ahead of this unlock is further worsening sentiment.

    Historically, token unlocks tend to trigger selloffs, especially in markets lacking strong fundamental catalysts.

    With Pi Coin already struggling to maintain critical support levels, the risk of a steep decline is real.

    Pi Coin technical analysis

    Technically, Pi Coin remains entrenched in a bearish trend. It is currently trading around $0.6481, having fallen roughly 22% over the past week.

    On the 4-hour chart, the token is displaying an inverse cup and handle pattern, a classic bearish setup.

    Moreover, Pi is currently trading below its 50-day moving average, reinforcing the negative outlook.

    On the 12-hour chart, a descending wedge pattern has formed.

    Although such patterns can signal a reversal, in this case, the wedge lacks confirmation due to insufficient lower-bound tests.

    Indicators like the Money Flow Index (MFI) and On-Balance Volume (OBV) continue to reflect declining momentum and persistent selling pressure.

    Pi Network price prediction

    Currently, Pi’s fundamentals remain weak, with major concerns surrounding its lack of major exchange listings, unresolved decentralisation issues, and low validator participation.

    The Pi Foundation reportedly controls over 92 billion tokens across more than 2,000 wallets, further raising questions about centralisation.

    In the absence of bullish news and with continued migration confusion, Pi Coin’s short-term outlook remains bleak.

    In the short term, charts show that Pi Coin struggles to break past the $0.66 resistance level.

    According to the tweet from crypto analyst Joe Swanson, if the current support at $0.5547 fails to hold, analysts believe the token could drop toward the psychologically significant $0.40 range.

    To reverse the trend, the network must address user concerns, resolve KYC issues, and deliver tangible utility through real-world applications and wider exchange listings.

    Without a surge in demand, reclaiming previous highs appears unlikely in the near term.

    On a longer horizon, analysis presents two contrasting scenarios.

    If Pi Network gains widespread adoption for payments, DeFi applications, and e-commerce, the token could soar to $1.25 by the end of 2025, as we had previously predicted.

    However, if the project fails to move beyond speculation and hype, its price might remain capped below $1.



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  • what’s fueling the June crypto rally?

    what’s fueling the June crypto rally?

    Bitcoin, Ethereum, XRP and Dogecoin rise in June rally

    • XRP open interest hits $5 billion, signalling possible breakout.
    • Dogecoin jumps above $0.20 as traders rotate into meme tokens.
    • Analysts forecast potential highs of $137K for BTC and $12K for ETH in 2025.

    The cryptocurrency market is gaining ground again in early June 2025, with Bitcoin, Ethereum, XRP, and Dogecoin all staging notable recoveries.

    As of Tuesday, June 3, Bitcoin is trading around $105,000, Ethereum has pushed past $2,600, XRP is testing $2.20, and Dogecoin is holding near $0.20.

    The rally follows a weekend of sharp liquidations and reflects renewed appetite among retail and institutional traders alike.

    While short squeezes and technical momentum are partly behind the surge, broader macroeconomic factors and growing speculation around crypto ETFs are playing a key role in lifting sentiment.

    Bitcoin holds firm above $105,000 as whales accumulate

    Bitcoin’s price action has rebounded strongly since the end of May, recovering from a series of declines that wiped nearly $1 billion in open interest.

    After bottoming out near $101,000, BTC reversed course with four consecutive days of gains, briefly hitting $106,560.

    As of writing, Bitcoin is trading at $105,265.

    Analysts attribute the rebound to ongoing whale accumulation, with on-chain data showing that large wallets have continued to absorb selling pressure during dips.

    Bitcoin price
    Source: CoinMarketCap

    That trend, often viewed as a precursor to further rallies, has helped BTC maintain upward momentum despite broader market fatigue.

    From a macro perspective, escalating geopolitical tensions and expectations around monetary easing have bolstered Bitcoin’s image as a non-correlated asset.

    With central banks signalling policy shifts and the US dollar weakening slightly, Bitcoin is increasingly seen as a hedge against volatility.

    Technically, Bitcoin remains supported above $103,000, with upside targets extending to $108,000 in the near term.

    If buying pressure continues, models suggest a rally toward $137,000 is possible this month, while long-term forecasts still point to a potential $400,000 valuation by 2030.

    Ethereum trades near $2,615, ETF speculation boosts sentiment

    Ethereum has rallied over 7% in the past three days, recovering from lows near $2,430 to reach a session high of $2,650.83.

    It is currently trading at under $2,610.

    Ethereum price
    Source: CoinMarketCap

    Ethereum’s price momentum is supported by growing speculation that the US Securities and Exchange Commission could approve a spot Ethereum ETF in the coming weeks.

    In addition to the ETF buzz, the Ethereum Foundation’s recent reorganisation has sparked fresh interest in the blockchain.

    A stronger focus on protocol development and staking infrastructure has drawn both institutional and retail inflows.

    Ethereum remains above its key moving averages, and chart watchers are eyeing a breakout past $2,810 to trigger further gains.

    However, previous attempts to breach that level have failed, suggesting that sustained bullish pressure is needed.

    Some models forecast Ethereum could test $6,000 this year, with upside potentially extending to $12,000 if institutional demand increases significantly.

    XRP builds pressure above $2.19 as open interest surges

    XRP is showing signs of a breakout, with the token climbing nearly 7% from weekend lows and currently hovering near $2.20.

    The price reached a daily high of $2.2229 on Tuesday, driven by a sharp increase in derivatives activity. XRP is trading at $2.21 currently.

    XRP price
    Source: CoinMarketCap

    Data shows open interest in XRP contracts nearing $5 billion, signalling high expectations of a decisive move.

    This surge in open positions has fuelled speculation of a short squeeze if prices climb higher.

    While XRP has historically seen large price movements during periods of heightened open interest, the absence of a clear catalyst—such as news on Ripple’s legal battle or an ETF approval—makes direction uncertain.

    Price models suggest XRP could reach between $4.50 and $10 by year-end if conditions align, though any downside reversal may trigger sharp corrections due to the leveraged nature of current trades.

    Dogecoin spikes to $0.2013 as traders rotate into meme coins

    Dogecoin is back in the spotlight, reaching an intraday high of $0.2013 after three straight days of gains. It is currently trading around $0.195.

    Dogecoin price
    Source: CoinMarketCap

    The move reflects a common pattern during broader crypto rallies, where profits from majors like Bitcoin and Ethereum are often redirected into higher-risk meme tokens.

    The Bollinger Bands for DOGE are widening, indicating increasing volatility.

    Traders are watching resistance near $0.2310 as the next level to break. If DOGE fails to hold support at $0.1900, a retest of $0.17 is possible.

    While DOGE remains speculative, short-term technicals suggest room for further upside if market sentiment remains bullish.

    What’s driving crypto prices higher today

    A mix of factors is behind the rally across major tokens.

    These include renewed institutional demand, technical momentum, macroeconomic concerns, and anticipation of regulatory clarity.

    The possibility of more ETF approvals and the integration of crypto in traditional finance are also boosting market confidence.

    The US Federal Reserve is expected to maintain a dovish stance in the coming months, which has weakened the dollar slightly and increased the appeal of digital assets.

    Additionally, falling bond yields and reduced inflation risks have encouraged traders to shift towards alternative investments, including crypto.

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