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  • ONDO price rallies on 21Shares’ ETF filing and major exchange listing

    ONDO price rallies on 21Shares’ ETF filing and major exchange listing

    • The altcoin has rallied following 21Shares’ ETF filing with the SEC.
    • The application indicates increasing institutional interest in RWA tokens.
    • Binance US has listed ONDO, fueling its upside momentum.

    Ondo Finance’s native coin signals imminent breakouts despite the broad market cool down, fueled by two key developments.

    First and foremost, asset manager 21Shares has filed with the US SEC to launch an ONDO exchange-traded fund (ETF).

    Secondly, Binance US confirmed listing the altcoin, with trading starting today, July 23.

    ONDO soared from the daily low of $1.0583 to $1.1642, a 10% increase, as the bullish news sparked bullish momentum.

    ONDO is at the center of Ondo Finance’s goal of bringing traditional assets on-chain.

    With interest in real-world asset (RWA) platforms skyrocketing, 21Shares and Binance US’ moves could not be better as retail and institutional investors seek Ondo exposure.

    The crypto has witnessed a surge in institutional appetite, with giants like BlackRock showing interest.

    MasterCard tapped Ondo Finance as its first RWA provider, while Ripple leveraged the blockchain to launch OUSG on its XRPL.

    21Shares files to launch ONDO ETF

    21Shares increases Ondo’s institutional appeal with the latest ETF application.

    The move confirms that traditional finance (TradiFi) is targeting the tokenization sector seriously.

    Moreover, seeking SEC authorization underscores the asset manager’s commitment to compliance and innovation in the tokenized sector of RWAs and DeFi.

    This is more than another cryptocurrency product.

    Ondo Finance remains at the core of the current trend of bringing real-world assets like US Treasuries, credit instruments, and bonds on-chain.

    Last week, Ondo Finance collaborated with BNB Chain to introduce tokenized equities in the United States.

    21Shares’ proposed exchange-traded fund would offer cryptocurrency enthusiasts exposure to ONDO via licensed platforms, without brokerage sites.

    Binance US lists ONDO

    A leading crypto exchange in the United States, Binance US, confirmed listing Ondo Finance’s token on its trading platform.

    It opened deposits on the Ethereum (ETH) blockchain yesterday, with ONDO/USDT trading set to start today.

    The official announcement read:

    We’re excited to announce that ONDO is now listed on Binance.US! Deposits for ONDO on the Ethereum network are now open. Trading for ONDO/USDT will begin tomorrow, July 23, 2025, at 4 a.m. / 7 a.m. EDT.

    The listing is vital as it makes the ONDO token accessible to the massive American retail audience.

    Moreover, listing on leading exchanges often acts as a Launchpad for many tokens.

    More US citizens can now trade ONDO without depending on overseas platforms or decentralized exchanges.

    ONDO price outlook

    Ondo Finance’s native coin attracted attention amidst the optimistic developments.

    It trades at $1.11 after a brief correction from daily highs.

    Meanwhile, the surging 24-hour trading volume highlights renewed interest in the RWA token, hinting at continued uptrend.

    Technical indicators support the short-term momentum shift.

    For example, the MACD on the 3H chart displays green histograms after a bullish crossover, signaling a buyer comeback.

    Also, the Chaikin Money Flow shows increased ONDO accumulation over the past week.

    Such trends indicate trust in the token’s near-term performance.

    Ondo Finance bull target the late January price levels above $1.60.

    Overcoming this level could catalyze smooth gains to the psychological level at $2.
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  • Centrifuge rallies on $1B RWA allocation—breakout ahead?

    Centrifuge rallies on $1B RWA allocation—breakout ahead?

    Centrifuge Price Outlook

    • Centrifuge price hovers near $0.20 as the real-world asset (RWA) project gets a fresh boost.
    • Interest in Centrifuge’s innovative RWA Launchpad  has attracted institutional backing, with $1 billion allocated to a tokenized product on the platform.
    • CFG price could eye bounce to $0.5, highs last seen in December 2024.

    Centrifuge (CFG), a real-world asset (RWA) tokenization platform, trades at a key level as recent gains see a bullish technical formation.

    While CFG has pared gains seen earlier in the week, which came amid a 400% spike in volume on June 25, Centrifuge looks largely poised for a breakout.

    Interest in the project amid its innovative RWA Launchpad, and significant institutional backing, may catalyse gains.

    Centrifuge and a $1 RWA product

    At the heart of Centrifuge’s recent success is the launch of its RWA Launchpad, a production-ready stack designed to streamline the tokenization of assets like credit, ETFs, and Treasury Bills.

    Announced recently, the platform addresses the inefficiencies of manually rewriting contracts by offering plug-and-play extensions built on Centrifuge V3.

    This modular infrastructure, as detailed by the Centrifuge team, allows asset managers to integrate investment flows seamlessly, bridging traditional finance and DeFi.

    The timing couldn’t be better, as more institutional interest in RWA sees several projects attract attention.

    One of these is the groundbreaking $1 billion tokenized product managed by Janus Henderson Investors.

    The $1 billion allocation into a single tokenized product on Centrifuge is backed by a significant allocation from Sky Ecosystem through Grove Finance.

    This move, building on Centrifuge’s earlier success with the Anemoy Liquid Treasury Fund, underscores its ability to attract major players, blending traditional finance with blockchain innovation.

    Centrifuge CTO’s perspective is that v3’s focus on scalability and interoperability, particularly with EVM chains, is a big move.

    “With Centrifuge V3, we’re building a truly chain-agnostic infrastructure, where issuers manage one fund across many chains, and investors access assets wherever they are,” he noted.

    CFG price outlook

    The Centrifuge narrative is one of innovation meeting opportunity.

    The RWA Launchpad’s flexibility and the $1 billion milestone are not just technical achievements but catalysts for a broader financial revolution.

    While the crypto market remains volatile, Centrifuge’s ability to merge real-world assets with onchain efficiency suggests a promising trajectory.

    Institutional endorsement, as well as overall ecosystem growth are fundamental factors that could drive CFG prices higher. Notably, Centrifuge rose to highs of $0.5 in December 2024.

    Hovering near $0.20 means that level might be a major target for buyers.

    As of writing on June 26, 2025, CFG price is just in the green above $0.19.

    The altcoin however is nearly 14% up in the past week.
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  • Bitcoin rallies to $106K on Mideast ceasefire news; Circle shares continue explosive climb

    Bitcoin rallies to $106K on Mideast ceasefire news; Circle shares continue explosive climb

    Bitcoin rallies to $106K on Mideast ceasefire news; Circle shares continue explosive climb

    • Bitcoin surged past $106K late Monday after Trump announced a “Complete and Total CEASEFIRE” between Iran and Israel.
    • The rally marked a sharp reversal from a plunge to $98,500 just 24 hours prior; oil prices tumbled to $65.
    • Stablecoin issuer Circle (CRCL) stock hit a record high near $299, up 750% since its IPO this month.

    A tumultuous 72 hours of price action in the cryptocurrency market culminated in a sharp rally late Monday, as Bitcoin surged past the $106,000 mark.

    The catalyst for this dramatic move was an announcement from US President Donald Trump, who took to his Truth Social platform to proclaim a “complete and total” ceasefire between Iran and Israel, offering a glimmer of de-escalation in the volatile Middle East conflict.

    The market’s reaction to President Trump’s announcement was immediate and forceful. “It has been fully agreed by and between Israel and Iran that there will be a Complete and Total CEASEFIRE (in approximately 6 hours from now),” Trump wrote, sending a wave of relief through global markets.

    Bitcoin, which had already been showing signs of a rebound in afternoon trading, jumped nearly another 3% on the news, decisively topping $106,000.

    This represented a remarkable turnaround from just over 24 hours prior, when the leading cryptocurrency had plunged to as low as $98,500 amidst fears of a widening war.

    At the time of this report, Bitcoin’s price had slightly pulled back from its peak to around $105,300, but held onto the majority of its gains.

    The positive sentiment spilled over into traditional markets as well. US stock index futures posted gains of approximately 0.5% across the board.

    The price of crude oil, which had soared to over $75 a barrel earlier in the day on supply disruption fears, tumbled further to just $65 per barrel following the ceasefire news.

    The move in some major altcoins was even more pronounced, with Ether (ETH), XRP, and Solana (SOL) among those sporting impressive gains of 8%-10%.

    While there was some initial confusion in the minutes following the president’s announcement regarding the validity of the ceasefire agreement, Reuters later reported that a senior Iranian official had confirmed Tehran’s agreement to a proposed ceasefire with Israel, lending credence to the market’s optimistic reaction.

    Circle’s meteoric rise

    In a parallel and equally dramatic market story, shares of stablecoin issuer Circle (CRCL) continued their explosive rally on Monday, soaring to a fresh record high.

    The surge has brought the company’s market capitalization tantalizingly close to that of its flagship token, USDC, and puts it within striking distance of crypto exchange giant Coinbase (COIN).

    Shares of Circle were up another 22% at one point on Monday morning, reaching a record high just shy of $299 before relinquishing some of those gains.

    The stock ultimately closed at around $263, up a solid 9% for the session.

    Since its Initial Public Offering (IPO) earlier this month, which priced at $31 per share, Circle’s stock has appreciated by a staggering 750%.

    At its peak on Monday, Circle’s market capitalization reached roughly $60 billion.

    This figure is nearly on par with the $61.3 billion supply of its USDC stablecoin, the second-largest dollar-pegged token in circulation.

    This valuation also brings the firm remarkably close to that of crypto exchange Coinbase (COIN), which currently has a market capitalization of about $78 billion.

    Circle’s phenomenal surge this month is a clear testament to the soaring investor appetite for the fast-growing stablecoin market, a sector of the crypto industry with very few publicly-traded “pure play” investment options.

    USDC is widely used across cryptocurrency exchanges and decentralized finance (DeFi) protocols and is gaining increasing popularity for payments and cross-border transactions.

    A key catalyst that has helped fuel Circle’s rally was the US Senate’s passage of the so-called GENIUS Act last week.

    This legislation, which advances a regulatory framework for the stablecoin asset class, has boosted investor confidence in the long-term viability and growth potential of the sector, which some analysts believe could reach a multi-trillion dollar valuation in the coming years.

    Despite the bullish momentum, some analysts are beginning to warn that Circle’s rally may be running ahead of its underlying fundamentals.
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  • Bitcoin Pepe seals partnerships before May 31 launch as Aave price rallies

    Bitcoin Pepe seals partnerships before May 31 launch as Aave price rallies

    AAVE surges on optimism, Bitcoin Pepe bags key partnerships ahead of May 31 listing

    • AAVE has broken past $260 amid a 90% monthly gain and surging DeFi TVL.
    • Bitcoin Pepe has secured key deals ahead of its May 31 CEX listing.
    • Bitcoin Pepe (BPEP) is currently in its last token presale stage and it has seen a 71% price surge.

    AAVE has extended its bullish streak, gaining over 21% in the past 24 hours, while Bitcoin Pepe is drawing attention with strategic moves ahead of its much-anticipated May 31 listing.

    Both assets are riding separate but equally compelling narratives, one driven by surging TVL and renewed DeFi momentum and the other driven by meme coin culture and ecosystem expansion.

    With crypto investors eager to rotate capital into tokens showing strong community support and developer activity, both AAVE and Bitcoin Pepe are enjoying breakout moments in a market hungry for upside catalysts.

    AAVE powers past $260 as DeFi optimism intensifies

    At press time, AAVE was trading at $265.60, its highest level in over a year, propelled by a 90% rally in the past 30 days and a staggering 207.6% gain over the last year.

    Momentum is firmly on the side of bulls as AAVE’s 24-hour trading volume nears $884 million, signalling strong demand and sustained price discovery above previous resistance levels.

    In addition, the protocol’s total value locked (TVL) has soared to over $40.49 billion, underscoring growing confidence in Aave’s lending infrastructure and its relevance in the broader DeFi ecosystem.

    This spike in TVL not only reflects increased user deposits but also signals growing institutional trust in permissionless, decentralised borrowing and lending platforms.

    Technically, AAVE has broken through a stubborn resistance at around $250–$262, invalidating prior local tops and opening the door to a possible retest of the $300 psychological level.

    On-balance volume has also turned sharply upward, suggesting that buyers are absorbing sell pressure and accumulating in anticipation of further upside.

    Additionally, the 24-hour price range of $218.49 to $269.13 shows heightened volatility but confirms that higher lows continue to form, a classic hallmark of bullish structure.

    With a market cap now exceeding $4 billion and circulating supply nearing 15.1 million tokens, AAVE appears to be gaining both retail and institutional traction.

    Many traders are now watching for potential retracements to the $210–$220 zone, which could act as new support should a short-term correction occur.

    Given its strong fundamentals, technical breakout, and rapidly climbing TVL, AAVE is now positioned as a flagship asset for DeFi resurgence narratives this quarter.

    Bitcoin Pepe locks in strategic partnerships as May 31 listing approaches

    While AAVE makes headlines for price action, Bitcoin Pepe (BPEP) is fueling its own rally through ecosystem expansion and strategic brand positioning ahead of its centralised exchange debut.

    Built on a new token standard dubbed the PEP-20 token standard, Bitcoin Pepe is marketing itself as the “Solana of Bitcoin,” promising a Layer-2 experience native to the world’s most secure blockchain.

    Ahead of its May 31 listing as its token presale comes to an end, Bitcoin Pepe has announced a string of high-profile partnerships with the likes of Catamoto, Super Meme, Plena Finance, GETE Network, Crypto Hunters and BETV, aimed at accelerating adoption and enhancing token utility.

    With strong emphasis on staking incentives and interoperability, the project is creating buzz among early adopters and meme coin enthusiasts looking for more than just hype.

    Currently in the last presale stage, Bitcoin Pepe’s token, BPEP, has seen a 71% price surge, with projections of an explosion post-listing buoyed by its innovative approach to memecoins.

    Bitcoin Pepe’s roadmap signals a robust ecosystem growth, including plans for bridge infrastructure, PEP-20 DEX listings, and NFT integrations that tap into Bitcoin’s Ordinals movement.

    Developers are also rolling out native tools to simplify onboarding, enabling software engineers and crypto-native users to interact with PEP-20 tokens through wallet extensions and SDKs.

    This strategic positioning has helped Bitcoin Pepe carve out a niche in the crowded meme coin market by offering substance alongside viral branding.

    With just days to go before its major listing, the token’s growing community and tech-forward narrative are converging into a potential breakout moment.

    Given the current appetite for meme projects with real use cases, Bitcoin Pepe is increasingly being seen as more than just another speculative token.

    If momentum sustains through listing day, BPEP could emerge as one of the few meme coins to successfully transition into infrastructure relevance on Bitcoin.

    In a market now rewarding both utility and storytelling, Bitcoin Pepe’s rise comes at a time when narrative-driven investing is back in full force.

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  • SIGN price rallies 80% as top crypto exchanges add token

    SIGN price rallies 80% as top crypto exchanges add token

    • Sign (SIGN) price has jumped more than 80% amid multiple exchange listings, including on South Korea’s largest crypto exchange.
    • Upbit plans to list SIGN trading pairs for Korean won, Bitcoin and Tether (USDT).
    • Profit taking could derail Sign price momentum.

    Sign (SIGN) is up more than 80% in the past 24 hours, skyrocketing as multiple exchanges and trading platforms list the token.

    As of writing, the SIGN token traded near $0.13, up 85% and likely to rally further following its listing on Upbit, the largest cryptocurrency exchange in South Korea.

    Market buzz as Sign surges

    Sign is an omni-chain attestation protocol designed to power on-chain claims for identity, ownership, and credentials.

    The Sign Protocol, which operates across multiple blockchains, aims to make attestation technology more accessible and user-friendly, embedding it into everyday digital interactions.

    With services like Token Table for on-chain token distribution, EthSign for web3 signing, and the Sign Protocol for omni-chain attestation.

    Meanwhile, the Sign (SIGN) token is the platform’s native token, used for gas fees, staking and airdrop rewards.

    SIGN token’s remarkable price rally comes as Upbit, South Korea’s largest cryptocurrency exchange, announced the listing of the token.

    It joins other platforms, including Bitget, Bitrue and Gate.io in adding support for the token.

    The hype amid these developments have seen Sign’s token price jump sharply.

    Upbit plans to list SIGN with Korean won (KRW), Bitcoin (BTC), and Tether (USDT) trading pairs.

    Upbit said in a notice that deposits/withdrawals will open three hours after the announcement.

    However, the exchange did not provide an exact listing time for the token.

    Why does Upbit listing matter?

    South Korea is a major hub for crypto trading, and Upbit’s dominant position in the market has given SIGN a significant boost.

    The exchange’s decision to support SIGN reflects growing confidence in the project’s potential, especially given the fact that South Korean investors have historically shown massive enthusiasm for digital assets. Its listing of the token could help push prices higher.

    Notably, the trading volume of Sign (SIGN) has reached over $658 million, representing a staggering 1,462,136% increase in 24 hours.

    CoinGecko analysts indicate the spike signals a sharp rise in sentiment and market activity.

    Analysts are optimistic about its short-term trajectory, given the heightened trading volume and market interest.

    Price discovery may see buyers extend beyond $0.13, with momentum continuation benefiting from overall market performance.

    However, monitoring of whale activity could be key as is the fact that a reversal amid profit taking may be equally sharp and painful.

     

     

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  • JasmyCoin rallies 295% as Bitcoin Dogs take the crypto stage by storm

    JasmyCoin rallies 295% as Bitcoin Dogs take the crypto stage by storm

    • Regulatory reforms in Japan boost JasmyCoin’s bullish sentiment.
    • Bitcoin Dogs introduces unique gaming and social experience in the canine crypto world.
    • Bitcoin Dogs’ 0DOG token presale is underway with limited supply.

    JasmyCoin (JASMY) and Bitcoin Dogs have recently made headlines with their remarkable performances.

    JasmyCoin, Japan’s leading cryptocurrency project, has witnessed an impressive surge in value, while Bitcoin Dogs, a new innovative platform on the Bitcoin blockchain, is grabbing attention with its unique features and the ongoing 0DOG token presale.

    Let’s delve into the details of these crypto phenomena and explore whether they present enticing investment opportunities.

    JasmyCoin’s meteoric rise: a tale of bulls and whales

    JasmyCoin’s recent price rally has left the crypto community buzzing. Over the past week, JASMY has experienced a staggering 199% surge, reaching $0.01863, marking a remarkable 265% growth in the last month.

    JasmyCoin price chart

     

    This surge is not just a short-lived hype; it’s a result of strategic moves by influential stakeholders, colloquially known as “whales.”

    These whales, who have been accumulating JASMY since October 2021, have been withdrawing significant amounts of JASMY coins from exchanges with a majority of it seemingly flowing into Binance.

    These moves not only triggered market sentiment but also demonstrated a continued interest in JASMY despite market fluctuations.

    The bullish sentiment surrounding JasmyCoin is further fueled by Japan’s regulatory reforms, notably the approval of venture capital investments in crypto projects. As Japan takes steps to make direct investments in cryptocurrency projects more accessible, JasmyCoin stands to benefit, solidifying its position as the country’s largest crypto project.

    Bitcoin Dogs: innovation in the canine crypto world

    While JasmyCoin dominates the Japanese crypto scene, Bitcoin Dogs is making waves on the global stage with its groundbreaking approach. Billing itself as the “First Ever ICO on the Bitcoin Blockchain,” Bitcoin Dogs is not just a cryptocurrency; it’s a playful universe where dog lovers and crypto enthusiasts converge to trade, collect, and have a good barking time.

    Bitcoin Dogs introduces a unique gaming and social experience in its immersive Dogaverse metaverse where users can feed their virtual dogs, engage in social interactions with ripple effects, and challenge others to PvP Duel Races, enhancing the overall play-to-earn dynamics. There is also the 10k Ordinals NFT Club that caters to both casual admirers and devoted enthusiasts, offering a variety of collectibles to parade, collect, and trade.

    The roadmap for Bitcoin Dogs unveils exciting milestones, from the Grand Opening and BRC-20 claims to the launch of the metaverse and strategic partnerships in the coming quarters. Its native token, 0DOG, is currently in its presale stage, with a limited supply of 900 million tokens.

    At press time, the presale had raised over $3.450 million in just seven days. The 0DOG token is going for $0.0198 in the current presale stage though it is expected to rise to $0.0224 in the next presale stage, which is just a day away. To take part in the presale, visit the Bitcoin Dogs website and purchase your 0DOG tokens.

    Are JasmyCoin and Bitcoin Dogs good investments?

    As the crypto landscape continues to evolve, the question arises – is it a good time to invest in Bitcoin Dogs and JasyCoin?

    Well, JasmyCoin’s surge aligns with both market dynamics and regulatory changes in Japan. The positive sentiment is evident, fueled by increased trading volume and a growing market capitalization. Investors eyeing JasmyCoin may find the current market conditions conducive to potential returns.

    On the other hand, Bitcoin Dogs’ innovative approach, coupled with the growing interest in play-to-earn gaming and NFTs, positions it favourably. However, potential investors should carefully evaluate the project’s whitepaper, understand the risks associated with the ICO, and consider the overall viability of the gaming and social features.

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  • Render (RNDR) price rallies as community passes key proposal

    Render (RNDR) price rallies as community passes key proposal

    • Render (RNDR) price was up 5% in the past 24 hours and 52% in the past 30 days.
    • The AI related crypto project has seen positive sentiment amid greater adoption of its technology.
    • A community vote has also passed a proposal to onboard cloud computing platform Beam.

    The price of Render rose sharply on Friday as the AI crypto token continued the outperformance seen this past week. RNDR traded more than 5% up to highs of $2.25 in the 24-hour period to the time of writing, with weekly and monthly gains at 13% and 52% respectively.

    Recent upward momentum has benefited from AI hype driven by forecasts from mainstream companies, including Microsoft, Nvidia and Palantir.

    RNDR price up as community votes for key proposal

    Render’s upside appears to have defied likely sell-off pressure after on-chain data revealed FTX/Alameda had moved over 974k RNDR tokens. While the transfer of the tokens, valued around $2 million at the time, was probably for selling purposes, the market’s reaction kept bulls in control.

    This positivity for the altcoin also came after a community vote passed the RNP-005: Beam Compute Client proposal.

    As the Render Network X account shared early Friday, the core proposal submitted on October 23 had passed. RNP-005 saw 1.4 million RNDR, or 99.79% of votes, support the onboarding of cloud platform Beam, which could become the second Compute Client leveraging Render Network’s GPUs for machine learning (ML) workloads.

    Beam’s cloud platform allows for the accelerated development and deployment of AI operations with GPUs. This will be possible without managing infrastructure, the proposal notes. 

    As such, integrating with this platform will enable Render’s decentralized GPU network to power the ML workloads. It’s a development that could see Render broaden its utility, with demand a factor for RNDR.

    With the community vote closed, the proposal has moved to the next stage of “Render Network Team Review.” If RNP-005 passes technical feasibility at this stage, the Render Foundation will move to publish the final vote – expected on Wednesday, next week.

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  • BTC touches $25k as crypto rallies

    BTC touches $25k as crypto rallies

    • Bitcoin reached highs of $25,230 across major exchanges, its highest price level in over six months.
    • BTC price moved above its 200-week moving average’
    • Analysts say bulls could target fresh gains as a bullish signal flashes.

    Bitcoin broke above $25,000 as the momentum that pushed the flagship cryptocurrency higher on Wednesday continued into Thursday.

    At around 11:15 am ET, the price of Bitcoin against the US dollar was up 10.7%, with BTC trading at $25,093 after briefly touching highs of $25,230 across major exchanges. Despite shedding some of the gains, BTC looks poised for further upside action should bulls successfully retest and hold prices above the critical $25,100 level.

    Bitcoin price update: bulls eye new 2023 high

    Today’s rally comes on the back of decent gains though, and crypto analyst Mohit Sorout earlier pointed to what he calls “the mother of all bullish signals.” Just before BTC hit the new year-to-date highs, the analyst wrote:

    “The mother of all $btc bullish signals has flashed – DCA indicator. Historically, it has flashed only thrice in btc’s existence & each occurence led to massive rallies of 7400% (2015), 160% (2019) [and] 640% (2020). Today marks the 4th time this signal is suggesting a raging bullmarket.”

    PlanB, the creator of the stock-to-flow price model, shared the chart below showing Bitcoin’s rally on Thursday came as BTC price broke above the 200-week moving average.

    What could happen next for Bitcoin? Well, a retreat to support above $24k or lower to $22.5k is possible before a slow grind pushes it up again. But according to pseudonymous analyst Moustache, $28k is very much achievable.

    BTC spike sees $230 million in liquidations

    Bitcoin’s gains pushed its market capitalization to $526 billion, while a 7.9% jump in the total crypto market cap had the top altcoin Ethereum trading above $1,730 with double digit gains. Among the top ten cryptocurrencies, Polygon and OKB were also up more than 10%.

    As prices rallied, traders who’d bet on broader declines were caught unawares, with over $230 in shorts liquidated. Liquidation data showed Bitcoin-tracked futures led with over $99.6 million in liquidations while Ethereum saw more than $64 million in liquidations in 24 hours.

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  • Bitcoin (BTC/USD) rallies to $20,000. Here is the next potential target

    Bitcoin (BTC/USD) rallies to $20,000. Here is the next potential target

    Bitcoin (BTC/USD) trades at $20,660 as of press time, the highest level in 6 weeks. The cryptocurrency had added an intraday of 7%. The gains were accompanied by a 157% jump in trading volumes.

    Wednesday’s gains in Bitcoin come when investors have been calling for reversals at $19,000. That was after BTC looked to have bottomed at the level. There have been bull calls, going by insights data and analysts’ thoughts.

    One factor used as a bullish indicator for Bitcoin is the US dollar index or DXY. In a session with his 278,000 YouTube followers, crypto analyst Jason Pizzino says DXY shows signs of exhaustion. The fatigue comes after a rally of more than 16% this year.

    Pizzino says that DXY closed below the 50%-mark last week, an indication of bullish exhaustion. The analyst has earmarked 109 (points) as the probable lower top for DXY. The level will be the first lower top for DXY for a year. How will this point to a bullish market for Bitcoin?

    Investors look at DXY as a gauge of the overall market. When the index weakens, it suggests that investors are developing a risk-on sentiment. As a result, they are moving their capital from the defensive dollar to risky assets like crypto.

    Bitcoin pushes above moving averages as price overcomes tight trading

    Source – TradingView

    On the daily chart, Bitcoin has been trading within a tight range prior to Wednesday’s breakout. The breakout has seen the cryptocurrency break above the 20-day and 50-day MA, which trapped it.

    An RSI reading of 65 shows that there are more buyers for the cryptocurrency. However, we are approaching the overbought level, which could usher in a correction.

    Will Bitcoin continue to go higher

    The current momentum looks sustainable for Bitcoin to the next resistance at $21,500 and further at $22,500. However, it must overcome the immediate and higher-up resistance zones for a sustained surge. An improved crypto sentiment could do much to help. Nonetheless, BTC price looks attractive for dip buyers at the current valuation.

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    eToro

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