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  • Plume network crashes to new all-time low as crypto sell-off deepens

    Plume network crashes to new all-time low as crypto sell-off deepens

    Plume Price Flames

    • PLUME hit an all-time low of $0.035, which had the token down 85% from its March peak of $0.247.
    • Losses came amid sustained bearish pressure, with a 26% single-day crash erasing millions off its market cap.
    • Plume Network saw a total of over $440,000 in futures liquidations, most of it longs.

    As markets bled, Plume Network’s price dropped sharply to hit an all-time low of $0.035 and rank among the top losers in the past 24 hours across crypto.

    PLUME, the native token of the blockchain platform dedicated to bridging traditional finance with decentralized ecosystems, plummeted as Bitcoin flipped red.

    BTC fell to a new multi-month low, erasing significant gains as bulls failed to defend levels all the way to $95,800.

    Plume price drops to a new all-time low

    The PLUME token traded at $0.0349 at the time of writing, having reached unprecedented new all-time lows amid a fresh crypto crash.

    Initially, the altcoin surged on hype surrounding Plume’s full-stack RWA chain to hit $0.247 in March. But its price has declined steadily since, and accelerated to the latest low amid heightened selling pressure.

    Plume Price
    Plume Network chart by CoinGecko

    In the past few months, whale addresses have sporadically dominated accumulation rounds.

    However, retail panic has taken on the upper hand. Market data shows over $440,000 in 24-hour liquidations, seeing long positions dominating at over $392,000.

    Per CoinGecko, Plume has recorded over $60 million in daily trading volume. That’s an 83% spike in the past 24 hours, which highlights the corresponding selling.

    What’s next for PLUME price?

    For Plume, a sustained break below $0.035 could invite further capitulation. Potentially, bears might fancy $0.03.

    Notably, this dump arrives despite robust fundamentals. Plume’s SEC registration as a transfer agent in Q3 2025 has unlocked pathways for regulated tokenized securities and on-chain IPOs.

    Furthermore, recent integrations, such as the acquisition of liquid staking protocol Dinero, bolster institutional appeal.

    However, social sentiment has soured amid macroeconomic strains, including jitters around the Federal Reserve’s interest path.

    Analysts say the odds of a rate cut in December have fallen, and reaction has largely been negative.

    Despite the carnage, Plume’s long term outlook could mirror expected rebounds for the crypto sector. Nest Protocol’s recent relaunch, with 100 million PLUME allocation to stakers, has drawn significant interest.

    This means recovery could hinge on bulls reclaiming $0.05 support.

    A broader uptick in RWA adoption and overall bullish strength could allow for a potential rebound to $0.075 and likely $1.

    Nonetheless,  the 26% dump could accelerate downside action if uncertainty further grips the market. That $0.03 mark is critical for bulls over the coming weeks.

    Over the past week, the Plume price has plunged by nearly 30%. It’s down 64% in the past three months.

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  • Bitcoin shatters all-time high, surging past $125,000

    Bitcoin shatters all-time high, surging past $125,000

    Bitcoin shatters all-time high, surging past $125,000

    • Bitcoin has surged to a new all-time high, surpassing $125,750.
    • The rally follows a volatile September, with Bitcoin soaring over 9% in October.
    • The key $120,000 level has been successfully turned into a support base.

    The king of crypto has reclaimed its crown in a stunning display of power and resilience.

    Bitcoin has shattered its previous all-time high, blasting past the monumental $125,000 barrier in a powerful surge that signals the triumphant return of the bulls.

    The record-breaking performance, which saw the cryptocurrency touch a staggering 125,750 dollars in early Sunday trading, is a defiant roar from a market that has shaken off the blues of a volatile September and is now charting a bold new course.

    A fortress at $120,000: The anatomy of a breakout

    This is not a random surge; it is a rally built on a powerful technical foundation.

    The latest milestone comes after the market successfully defended the critical 120,000 dollar level, transforming what was once a ceiling of resistance into a solid floor of support.

    This successful conversion was the final piece of the puzzle, the technical green light that has paved the way for this powerful new leg higher and reinforced investor confidence in the cryptocurrency’s long-term prospects.

    The powerful upswing, which has seen Bitcoin’s value soar by over 9 percent in October alone, is a testament to the asset’s growing acceptance and its remarkable ability to rebound from periods of turbulence.

    A flight to safety, a bet on debasement

    The rally is not happening in a vacuum. It is being fueled by a potent cocktail of macroeconomic uncertainty and a growing narrative that the value of traditional fiat currencies is being eroded.

    The ongoing US government shutdown has injected a deep sense of instability into the global financial system, a chaos that appears to be driving investors toward alternative stores of value.

    This “dollar debasement narrative” is not just lifting Bitcoin; its effects are visible across the safe-haven spectrum.

    Spot gold also advanced on Friday to 3,876.55 dollars per ounce, lifting its weekly gain to over 2 percent in a powerful parallel move.

    “With many assets including equities, gold and even collectibles like Pokemon cards hitting all time highs, it’s no surprise Bitcoin is benefiting from the dollar debasement narrative,” said Joshua Lim, co-head of markets at the crypto prime brokerage firm FalconX, in a statement to Bloomberg.

    As the world grapples with a new era of economic uncertainty, Bitcoin is once again making its case as a viable and powerful alternative.

    The king is back on his throne, and the market is watching with bated breath to see just how high his new reign will take him.

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  • Bitcoin remains under pressure as gold targets a new all-time high

    Bitcoin remains under pressure as gold targets a new all-time high

    Bitcoin remains under pressure as gold targets a new all-time high

    • Bitcoin’s rally attempt fails as it retreats to below 112,000 dollars.
    • Gold continues its quiet but powerful climb, nearing its all-time high.
    • In August, gold is up nearly 4 percent while Bitcoin has fallen over 5 percent.

    A hopeful rally in the cryptocurrency market was decisively crushed on Thursday, as steady selling pressure throughout the US trading session sent prices into a familiar retreat.

    The failed bounce underscores a growing sense of fatigue in the digital asset space and throws a stark and revealing light on the silent, powerful ascent of its analog rival: gold.

    After a brief flirtation with the 113,000 dollar level, Bitcoin (BTC) was beaten back, sinking to 111,800 late in the session for a loss of 0.7 percent over the past 24 hours.

    The selling was even more pronounced in other major tokens, with Ether (ETH) and XRP shedding a more sizable 2.1 percent and 1.4 percent, respectively.

    The one notable bright spot in a sea of red was Solana’s SOL, which managed to buck the trend with a respectable 3.1 percent gain.

    A silent ascent to the summit

    While the crypto market grapples with its own inertia, a different story is unfolding in the world of precious metals.

    Quietly, but with unshakable conviction, gold has been on the rise. The yellow metal added another 0.8 percent on Thursday, climbing to 3,477 dollars per ounce.

    This puts the safe-haven asset just a few dollars shy of the record high of 3,534 dollars it touched earlier this month.

    The performance in August paints an even more dramatic picture of this great divergence: while Bitcoin has slid 5.2 percent, gold has rallied by nearly 4 percent.

    The great disconnect

    This decoupling is the great mystery currently haunting the market.

    The very same macroeconomic tailwinds that are propelling gold higher—namely, the prospect of lower interest rates and a weaker US dollar—are conspicuously failing to ignite any significant bid for “digital gold.”

    The fundamental case for Bitcoin as an inflation hedge and a store of value is being put to a severe test, and for now, it is failing.

    A September showdown looms

    The stage is now set for a potentially volatile final four months of the year.

    The resumption of Federal Reserve rate cuts appears to be firmly on the table for September, a move that could be amplified by President Trump’s appointment of one or possibly two new, likely dovish, members to the Fed’s board.

    As these powerful forces converge, the market is watching to see if Bitcoin can finally catch the golden tailwind or if its strange and troubling disconnect is a sign of a deeper malaise.

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  • Hyperliquid price forecast as HYPE sees pullback after hitting all-time high

    Hyperliquid price forecast as HYPE sees pullback after hitting all-time high

    Hyperliquid Price

    • Hyperliquid price jumped to a new all-time high above $51.
    • The token broke higher as HYPE bulls held above a major ascending trendline.
    • While price is down 4% from the ATH and hovers near 48, analysts predict further gains.

    Hyperliquid (HYPE) stood out among top cryptocurrency performers this week as the native token of the high-performance layer-1 blockchain rose to a new all-time high above $51.

    But can bulls hold prices above a key trendline and enter price discovery?

    Hyperliquid pares gains after bulls reach new ATH

    HYPE has been on a tear, climbing to an all-time high of $51.07 on August 27, 2025, fueled by a slight crypto market bounce that saw Bitcoin flip to above $113k from under $110k.

    The gains came as stocks edged higher ahead of Nvidia earnings, and then futures surged after the AI chip giant posted a revenue beat.

    With weekly gains exceeding 18%, Hyperliquid outpaced many top cryptocurrencies and stormed to its new ATH.

    Having captured the crypto market’s attention with spot volumes hitting daily peaks above $3.5 billion, HYPE token’s price jumped more than 17% in the past week.

    This saw the 16th-ranked altcoin hit highs of $51 across major exchanges.

    CoinGecko data shows the altcoin’s price managed a 1,174% rally from its all-time low of $3.81 reached in November 2024.

    Whales are aggressively buying HYPE.

    On-chain activity, with Hyperliquid’s decentralised exchange recording new highs in daily trading volume and fees, helped bulls.

    Institutional adoption, highlighted by spot exchange-traded fund anticipation and support by BitGo and Anchorage Digital Bank, has been a key catalyst.

    Hyperliquid price forecast: Is $100 next for HYPE?

    The broader crypto market bounce, with Cronos (CRO) jumping on Trump Media news, also helped HYPE drive higher.

    Analysts now say Hyperliquid price could extend gains in the coming months, with bulls likely to see triple-digit moves as they eye $100 and higher.

    However, HYPE has pulled back slightly, with profit-taking currently seeing the token hover above $48.

    Despite the pullback, market sentiment remains optimistic, supported by Hyperliquid’s dominance in the decentralised perpetuals market.

    HYPE chart by TradingView

    The daily chart above shows the technical outlook for HYPE is largely bullish as the token holds above a key ascending trendline.

    It signals sustained buyer demand, with the Relative Strength Index (RSI) above 57 to suggest that momentum favours the bulls.

    The daily MACD also shows a bullish crossover, with the histogram’s green bars strengthening.

    If HYPE regains upside traction, analysts believe it could enter price discovery mode, potentially targeting $100 in the coming months.

    As noted, a broader market downturn could push HYPE toward support levels, with demand reload zones around $42 and then $30.

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  • OKB price hits new all-time high amid a 50% spike

    OKB price hits new all-time high amid a 50% spike

    OKB Price Skyrockets To New All Time High

    • OKB price rose 50% to hit a new all-time high of $195.
    • The altcoin is outpacing peers as investors react to tokenomics changes.
    • OKB is seeing traction as altcoins bid to break higher.

    OKB, the native token of the OKX exchange, has soared to a new all-time high of $195, with intraday gains of over 50% catapulting the altcoin to the new ATH.

    OKB’s price surge has also come amid a significant spike in daily volume, with market data showing the OKX token witnessed a staggering 428% uptick in 24-hour trading volume.

    At the time of writing, the metric hovered around $1.17 billion.

    Meanwhile, OKB is one of the standout performers in the past 24 hours and week, outpacing top altcoins as recent bullish catalysts keep bulls in control.

    BNB also hit a new peak as exchange tokens rally.

    Why OKB surged 50% as it hit a new all-time high

    As top altcoins braced for a fresh dose of downside volatility, OKB extended its recent rally to a new ATH.

    Having gone vertical from lows of $46 to highs of $116 on Aug. 13, the token retested the $92 area.

    But bulls have traded higher since, breaking above $150 and hitting the intraday record high of $195 on Aug. 21.

    OKB chart by CoinMarketCap

    The buying pressure follows a strategic tokenomics overhaul that OKX undertook recently, with this significantly altering the OKB’s supply dynamics.

    On Aug. 13, OKX executed a massive one-time burn of 65.26 million OKB tokens, slashing the circulating supply by over 50% to a fixed cap of 21 million tokens.

    The move meant OKX aligned its token’s supply with Bitcoin’s hard cap, with the deflationary event a key catalyst to the parabolic price action.

    The supply change has seen OKB’s market cap surge to $4 billion, while the price has increased nearly 90% in the past week and over 290% in the past 30 days.

    As well as the token burn, OKX introduced an upgrade to its zero-knowledge Ethereum Virtual Machine (zkEVM) network built with Polygon technology.

    The upgrade boosted the network’s transaction capacity to 5,000 transactions per second while slashing gas fees to near-zero levels, enhancing OKB’s utility as the native gas token.

     OKB price outlook

    OKB’s price trajectory has pushed key technical metrics to extreme levels, with the Relative Strength Index (RSI) hitting overbought conditions.

    Per the daily chart, OKB’s price hovers at a level where the RSI is above 92 and signaling a potential reversal.

    OKX price chart by TradingView

    However, the Moving Average Convergence Divergence (MACD) remains strongly bullish, with the MACD line above the signal line.

    This and the histogram’s outlook suggest sustained buying pressure.

    If bulls weather profit-taking deals, the next target will be a spike above $200 and further price discovery.

    On the downside, support levels include $125 and $92.

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  • Bitcoin hits new all-time high as Fed easing bets and favorable US policy align

    Bitcoin hits new all-time high as Fed easing bets and favorable US policy align

    Bitcoin hits new all-time high as Fed easing bets and favorable US policy align

    • Bitcoin smashes its record, climbing to a new all-time high of $124,002.
    • Hopes for a significant Federal Reserve rate cut are fueling the rally.
    • A new executive order opens the door for crypto in 401(k) retirement plans.

    Bitcoin blasted through to a new all-time high on Thursday, as a perfect storm of roaring optimism over Federal Reserve policy and a series of powerful pro-crypto reforms converged to send the digital asset into uncharted territory.

    The move signals a dramatic new phase for a market that has been supercharged by a seismic shift in the US political and regulatory landscape.

    In early Asian trading, the world’s largest cryptocurrency climbed as much as 0.9% to touch $124,002.49, decisively surpassing the previous peak it set in July.

    The tidal wave of buying lifted the broader market, with the second−largest token, Ether, surging to 4,780.04—its highest level since the bull market of late 2021.

    The three-pronged catalyst: Fed, institutions, and the White House

    This record-setting rally isn’t a random surge; it’s being powered by a clear confluence of forces.

    According to IG market analyst Tony Sycamore, Bitcoin’s momentum is a direct result of “increasing certainty of Fed rate cuts, sustained institutional buying and moves by the Trump administration to ease investment in crypto assets.” 

    The technical picture is now just as bullish, with Sycamore noting that a decisive move could open the floodgates for a much larger run. “Technically a sustained break above $125k could propel BTC to $150,000,” he wrote in a note.

    The ‘crypto president’ and the $1.6 trillion surge

    Since President Donald Trump’s return to the White House, the regulatory environment in the United States has transformed from hostile to overtly favorable.

    Trump has proudly labeled himself the “crypto president,” and a series of long-sought regulatory wins for the industry have followed throughout 2025, from the passage of landmark stablecoin regulations to a broader overhaul by the securities regulator to accommodate digital assets.

    The market impact of this policy pivot has been staggering. Bitcoin itself has risen nearly 32% so far in 2025.

    More broadly, the entire crypto sector’s market capitalization has ballooned from about $2.5 trillion in November 2024, when Trump won the election, to over $4.18 trillion today, according to data from CoinMarketCap.

    Unlocking retirement billions: the 401(k) game-changer

    The latest and perhaps most significant tailwind came from an executive order signed last week on Thursday.

    The order paved the way for crypto assets to be included in 401(k) retirement accounts, a move that could unlock a colossal new wave of mainstream capital for the asset class.

    This is not just a win for investors; it’s a potential boon for asset management giants like BlackRock and Fidelity, whose crypto exchange-traded funds (ETFs) could become staples of American retirement planning.

    However, this push into long-term savings is not without its perils.

    The very volatility that creates spectacular rallies also poses significant risks, especially for retirement accounts that have historically relied on the relative stability of stocks and bonds.

    For now, though, the market is firmly focused on the upside, celebrating a new era of legitimacy that has sent its leading asset to heights once thought unreachable.

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  • SUI price: bulls eye all-time high amid spike above $4

    SUI price: bulls eye all-time high amid spike above $4

    Sui Price

    • Sui’s price is above $4.20 after surging more than 56% over the past month. 
    • The token’s rally has pushed the total value locked to all-time highs amid a surge in open interest.
    • Bulls could target the SUI all-time high of $5.35 reached in January 2025.

    Sui (SUI) has broken above $4.20 amid a notable 56% surge over the past month.

    This rally brings SUI tantalizingly close to its all-time high of $5.35, recorded in January 2025.

    It also means an impressive rally from April lows of $1.90, putting the token alongside top performers PancakeSwap, BNB and Optimism.

    Sui price jumps above $4 as TVL, open interest surge

    While Sui isn’t the standout performer in the past day or week, the token has gained over 56% in the past month.

    This has allowed it to break above $4.20 and see bulls come within reach of all-time highs witnessed in January 2025.

    Sui is also significantly up since lows of $1.9 in April 2025, with the cryptocurrency showing remarkable recovery since plummeting amid the Cetus protocol hack.

    Bulls’ dominance as top altcoins rally means Sui has experienced a notable spike in its total value locked (TVL).

    According to DeFiLlama, the project’s TVL has surpassed $3 billion, including staking, borrowings and vesting tokens.

    Key protocols like Suilend, NAVI and Bluefin have witnessed a spike in their respective TVLs to boost Sui’s.

    As well as DeFi activity, Sui is recording notable upside in the futures market.

    Per data by Coinglass, open interest in SUI has surged 10% to $2.7 billion, with strong speculative interest showing in the $7.4 billion in derivatives volume.

    Long positions dominate, suggesting overall bullish sentiment. As TVL rises and open interest grows, Sui’s market outlook becomes increasingly bullish.

    If market conditions support an upward flip, it could be a new ATH for Sui within the short term.

    Token unlocks are nonetheless a factor to watch.

    SUI price prediction

    Looking at the technical picture, SUI’s price trajectory appears upbeat.

    Technical indicators, such as the Relative Strength Index (RSI), support the bullish outlook.

    RSI currently sits at 65, having retreated from overbought territory, which means there’s room for further gains without SUI flipping immediately overheating.

    SUI chart by TradingView

    Meanwhile, the Moving Average Convergence Divergence (MACD) shows a bullish crossover.

    The MACD line is above the signal line to suggest bulls have an upper hand.

    Despite an upcoming cliff unlock, analysts predict SUI price could soon retest its all-time high of $5.35.

    Price discovery could push the token’s value even higher. However, the token unlock and short-term profit taking may derail bulls.

    SUI currently trades around $4.21, about 6% up in the past week.
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  • BNB price prediction: BNB on cusp all-time high as bulls eye $1,000

    BNB price prediction: BNB on cusp all-time high as bulls eye $1,000

    • BNB price trades above $760, having touched intraday highs of $766.
    • Having come just shy of a new all-time high, it’s possible bulls could target $1,000 next.
    • Overall, altcoin market optimism will catalyse more gains.

    BNB, the native coin of the Binance ecosystem and BNB Chain, is on the cusp of a new all-time high as price hovers near $763 on Monday morning.

    This comes amid a robust uptick for altcoins, with Ethereum exploding to $3,800 and XRP eyeing $4.00.

    While BNB has only managed a modest 2%, price is retesting last week’s resistance level amid an increase of nearly 9% in seven days.

    Despite these small gains compared to other coins, BNB is showing strong technical indicators, alongside a yearly high in Open Interest.

    BNB price nears new all-time high

    The BNB price has continued to trade higher since breaking above $640 in June.

    On Monday, July 21, the altcoin reached an intraday high of $766, a move that saw it come close to hitting its all-time high of $793 reached in December 2024.

    As noted, this rally for Binance Coin aligns with an uptick for altcoins across the broader market.

    With Bitcoin consolidating after hitting new ATH above $123k, it’s altcoins that are in the limelight this past week.

    “With Ethereum leading the way, there has been a huge jump in social media mentions of many altcoins and higher price targets,” analysts at Santiment recently posted.

    Ethereum has climbed above $3,800, and XRP is on the verge of a new all-time high.

    Bulls have pushed Solana towards $200. Elsewhere, altcoins such as Conflux (CFX) have surged significantly to lead top gainers in leading 100 coins by market cap.

    BNB’s market capitalisation has also increased amid the overall upward momentum, hitting above $106 billion as the fifth-largest cryptocurrency targets a new peak.

    BNB price prediction: is a breakout to $1,000 next?

    A look at the charts shows BNB’s bullish outlook has the support of key technical indicators.

    Combining this with prevailing market conditions could offer buyers the chance to break higher.

    Currently, hovering above $760 puts BNB just shy of the $793 peak.

    Profit taking may ensue near the ATH, but Open Interest in BNB futures has soared to a yearly high of $1.04 billion.

    Derivatives volume has also jumped to over $1.38 billion, signalling increased trader bets on the cryptocurrency.

    BNB price chart by TradingView

    The Moving Average Convergence Divergence (MACD) also shows a bullish crossover, confirming sustained upward pressure.

    If BNB bulls weather the likely corrections, the next target above the all-time high will be the psychological $1,000 level.
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  • Bitcoin trades near $119K after new all-time high; Coinbase rebrands wallet to ‘Base App’

    Bitcoin trades near $119K after new all-time high; Coinbase rebrands wallet to ‘Base App’

    Bitcoin trades near $119K after new all-time high; Coinbase rebrands wallet to 'Base App'

    Bitcoin is holding steady above the $118,800 mark as the market digests its recent powerful rally to a new all-time high of over $122,000.

    While on-chain data now indicates that the first wave of heavy profit-taking has begun, particularly among short-term holders sitting on significant gains, some analysts believe that historical patterns still suggest room for another push higher, though they are also warning that “overheating” signals are beginning to flash.

    In a recent report, on-chain analytics firm Glassnode highlighted that “short-term holders are now sitting on significant unrealized profits,” a condition that is pushing key indicators “towards overheated territory.”

    The Short-Term Holder Relative Unrealized Profit metric recently hit 15.4%, breaching a key statistical threshold (+1 standard deviation) before cooling slightly. Historically, this level “often marks the beginning of top formation,” according to Glassnode.

    The firm also pointed to the Realized Profit to Loss Ratio, which recently spiked to a staggering 39.8, “well above the +2 standard deviation threshold,” signaling a period of intense profit-taking from successful traders.

    Although this ratio has since declined to a more moderate 7.3, the elevated reading remains consistent with behavior typically seen in the late stages of a bull market.

    “So far, both the Percent of Spent Volume in Profit and the Realized Profit to Loss Ratio have signaled the first wave of excessive profit-taking,” the report concluded.

    While this doesn’t necessarily mark a definitive market top, Glassnode cautions that “such top formations tend to unfold across multiple waves,” with the next major resistance level for Bitcoin projected to be around the $130,000 mark.

    The great rotation: traders move into altcoins

    As Bitcoin’s near-term upside appears increasingly constrained by this profit-taking pressure, some traders are beginning to rotate their capital into major altcoins.

    Ethereum (ETH) surged an impressive 7.5% in the past 24 hours, outpacing Bitcoin and breaking out of a recent consolidation phase.

    Analysts have pointed to the recent advancement of the GENIUS Act, a stablecoin regulation bill, as a potential catalyst for ETH’s strong performance.

    Solana (SOL) also saw a significant jump, up 5%, buoyed by fresh on-chain data showing that Galaxy Digital had accumulated $55 million worth of SOL within a tight two-hour window, withdrawing the tokens from multiple centralized exchanges.

    This rotation into major altcoins like ETH and SOL suggests that while Bitcoin’s broader market structure remains intact, traders are seeking opportunities for higher returns in other parts of the crypto ecosystem.

    Coinbase’s big rebrand: from ‘Wallet’ to ‘Base App’

    In a significant development for the broader crypto ecosystem, Coinbase has officially rebranded its popular Wallet product as the ‘Base App’.

    This move confirms speculation that had been swirling since the company scrubbed its X profile earlier this week.

    The rebranding positions the app as a central gateway into the burgeoning Base ecosystem, which is now being pitched as a full-stack, on-chain platform designed for mainstream adoption.

    The rebrand was officially announced during Coinbase’s “A New Day One” event, which also unveiled a broader vision for the Base ecosystem, now built around three key pillars: the existing Layer-2 network, Base Chain; a new developer toolkit suite dubbed Base Build; and the newly launched Base App.

    Unlike its predecessor, the Coinbase Wallet, the new Base App is designed to be much more than just a place to store crypto.

    It will integrate chat functionalities, payments, trading, and a mini-app marketplace that supports a wide range of social and financial experiences.

    This is not Coinbase’s first attempt at a wallet makeover (long-time crypto users will remember its original wallet, “Toshi”), but it is arguably its most ambitious.

    With the Base ecosystem increasingly distancing itself from the parent Coinbase brand, the new app appears designed to emphasize Base’s distinct identity as a more decentralized, open ecosystem—one that is anchored in the core values of crypto but packaged in a user-friendly way for the everyday consumer.
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  • BTC price pulls back after near-$123K high; XRP approaches all-time high resistance at $3.00

    BTC price pulls back after near-$123K high; XRP approaches all-time high resistance at $3.00

    BTC price pulls back after near-$123K high; XRP approaches all-time high resistance at $3.00

    • Bitcoin cooled off after nearly topping $123K, with analysts saying the rally is in its early phases, not the end.
    • Arca’s CIO noted that current altcoin open interest is “nowhere near” the frothy levels of previous market tops.
    • XRP is trading near $2.91, approaching its all-time high resistance level of around $3.00.

    Bitcoin pulled back from its session highs during US trading hours on Monday, after nearly touching the $123,000 mark earlier in the day.

    Despite this slight cooling, analysts suggest that calls for a market top are premature, as the broader crypto rally appears to be in its early stages, with significant legislative developments underway in Washington DC that could provide further tailwinds.

    A rally in its infancy? Gauging the market’s momentum

    After a powerful surge of over 10% in less than a week, which saw some altcoins advance even more significantly, it’s natural for prices to enter a consolidation phase as traders digest the recent move and realize some profits.

    Bitcoin slipped below the $120,000 level late in the US day but managed to hold onto a modest 0.6% gain over the past 24 hours.

    However, other major cryptocurrencies saw more significant pullbacks, with Ethereum’s Ether (ETH) sliding back below $3,000, and Dogecoin (DOGE), Cardano’s ADA, and Stellar’s XLM declining by around 2%-3% on the day.

    Among the major tokens, XRP, SUI, and Uniswap’s UNI outperformed, posting gains of 2.5%, 10%, and 6%, respectively.

    Crypto-linked stocks also retraced some of their strong morning gains, though Strategy (MSTR) and Galaxy (GLXY) still closed higher by 3%-4%, while Coinbase (COIN) gained 1.5%.

    Despite the consolidation, Jeff Dorman, CIO of digital asset investment firm Arca, argues that this leg of the crypto rally is more likely in its early phases than nearing its end.

    In a Monday investor note, he referenced an observation from crypto analyst Will Clemente about previous major market tops, such as the March 2024 spot Bitcoin ETF-related peak and the frenzy surrounding the Trump election/inauguration in late 2024/early 2025.

    During those peaks, the open interest in altcoin derivatives notably flipped that of Bitcoin, a sign of widespread speculative froth.

    “The current rally is nowhere near that,” Dorman said, suggesting the market has not yet reached a state of excessive exuberance.

    He also added that while trading volumes on both centralized and decentralized exchanges rose by 23% week-over-week, they still aren’t close to the levels seen during other broad-market rallies in the past.

    The bigger picture: sovereign debt and institutional adoption

    Looking beyond the short-term charts, some see Bitcoin’s ascent as being propelled by more fundamental, long-term factors.

    Eric Demuth, CEO of the Europe-based crypto exchange Bitpanda, told TheStreet that excessive sovereign debt and investors seeking refuge from monetary inflation are key drivers.

    While he stated that BTC rising to €200,000 ($233,000) is “certainly a possibility,” he emphasized that the underlying adoption of the asset carries more importance than specific price targets.

    “What happens when Bitcoin becomes permanently embedded in the portfolios of major investors, in the reserves of sovereign states, and in the infrastructure of global banks?,” he posed.

    Because that’s exactly what’s happening right now.

    Demuth expects that in the coming years, Bitcoin’s market capitalization will gradually converge towards that of gold, which currently sits at over $22 trillion, nine times larger than BTC’s.

    XRP Nears All-Time High, Breakout Looms

    While Bitcoin consolidates, XRP is making headlines of its own.

    The token has moved back up to a level of resistance significantly close to the $3.00 mark, a price point not seen since its all-time high.

    Currently trading at $2.91, up 2.15% over the last 24 hours, XRP is fueling speculation that a major breakout could be imminent.

    “XRP is screaming all-time highs,” crypto analyst Ali Martinez stated in a recent update on the social media platform X.

    He pointed to a very significant technical setup, noting that XRP is now testing the top of a price channel that has been established for years, right around the $3.00 price point.

    A decisive move anywhere above this psychological and technical level would likely lead to a huge rally toward the $4.80 price point, Martinez suggested.

    This optimism is supported by a significant rise in open interest for XRP, which now stands at $3.409 billion, indicating increased trader participation and conviction.

    Following a significant build-up of leveraged positions—a common precursor to substantial price swings—the overall sentiment for XRP is bullish.

    In further support of the uptrend, the price of XRP is consistently trending above its 10-period adaptive moving average, a sign of strong underlying momentum and healthy consolidation.

    The next few trading sessions will be crucial, as investors will be watching to see if XRP can successfully convert this previous resistance into a new, longer-term support level, potentially launching it into price discovery mode.
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