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  • Crypto market mixed as Bitcoin tests $93K, Ethereum and XRP hit major resistance

    Crypto market mixed as Bitcoin tests $93K, Ethereum and XRP hit major resistance

    Bitcoin Price Bearish

    • Bitcoin price rose to near $93,000 on Friday before sell-off pressure resumed.
    • Ethereum and XRP also climbed but faced key hurdles around $3,000 and $2.25.
    • Sentiment remains downbeat across the crypto market despite notable gains for a few top altcoins.

    The cryptocurrency market continued to witness a mixed outing on Friday, with Bitcoin retesting the $92,500 mark while Ethereum and XRP both broke to key resistance areas.

    While gains indicated renewed investor optimism amid broader economic uncertainties, the swift retreat to below $91k for BTC highlights the fragile market sentiment.

    Also, while Sky, Monero and Bitcoin Cash gained, Zcash, Dash and Aptos led the top losers in the leading 100 coins by market cap.

    Bitcoin breaks to highs near $93k

    Bitcoin’s price marked a decisive breach of the $92,500 resistance level by rising to near $93,000.

    On Friday, the benchmark asset hit highs of $92,969 across major exchanges. However, the level has proved a robust barrier that means the quest to break higher towards the psychological $100 mark continues to evade bulls.

    QCP Group analysts shared the short-term Bitcoin price outlook via an X post. They see mid-$90k levels as key supply wall zones, while major support remains in the $82k-$80k area.

    “Options markets show caution even as year-end BTC call open interest stays heavy. Skew, IV and sentiment have softened, reinforcing a rangebound profile. Supply likely caps moves toward mid-90Ks, while support sits near 80–82K, leaving macro catalysts firmly in control of direction.”

    Despite the dip to below $91k as of writing, BTC’s gains earlier in the day allowed layer-1 and layer-2 solutions on the Bitcoin network to post gains.

    As noted, BounceBit and Stacks were among the Bitcoin ecosystem tokens to see an uptick.

    But as prices have dipped again, rather than bounce higher, this latest move could be a dead cat bounce.

    ETH and XRP face resistance

    Like Bitcoin, Ethereum has struggled to sustain momentum. Recently, the top altcoin fell to lows of $2,600 after closing above $4,000 in late October. The breach of the $3,000 level threatened more pain for bulls.

    However, after testing the demand reload zone, the ETH price has jumped back to the resistance area above $3,000.

    That’s despite a 25% dip over the past month.

    While prices are nearly 9% up in the past week, ETH’s inability to break higher reflects broader altcoin fatigue. Bitcoin’s drop to $90,504 at the time of writing suggests a potential downward cascade for ETH.

    XRP has fared similarly, trading at $2.18 amid a 1.4% dip in the past 24 hours.

    The token faces formidable overhead resistance at $2.25 and at $2.50. Per market data, the latter marks a level at which bulls have struggled since the crash on Oct. 10,2025.

    The launch of spot XRP ETFs in recent days has failed to help bulls break higher.

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  • Bitcoin tests $100K support after massive liquidation event rocks market

    Bitcoin tests $100K support after massive liquidation event rocks market

    Bitcoin tests $100K support after massive liquidation event rocks market

    • Bitcoin briefly fell to $100,000 after a sharp market-wide sell-off.
    • Over $1.6 billion in leveraged long positions were liquidated in 24 hours.
    • The crash was fueled by “risk-off” sentiment and Fed rate cut uncertainty.

    The cryptocurrency market was rocked by a wave of forced selling late Monday, triggering a sharp downturn that saw Bitcoin briefly touch the $100,000 level and erased more than $1.6 billion in leveraged bullish positions.

    The sudden deleveraging event, one of the largest since September, sent a shockwave across the digital asset space, with major altcoins like Ether, Solana, and XRP posting heavy losses as renewed macroeconomic fears spooked investors.

    The core of the market’s turmoil was a massive cascade of liquidations. In the last 24 hours, more than $2 billion in crypto futures contracts were forcibly closed, with long traders—those betting on higher prices—accounting for nearly 80% of the losses at $1.6 billion, according to CoinGlass data.

    This automatic selling pressure occurs when traders using borrowed funds see their positions move sharply against them, forcing exchanges to sell the assets to cover losses. 

    Macro headwinds and risk-off sentiment

    The sell-off was fueled by a broader “risk-off” mood spreading across financial markets.

    Analysts pointed to a combination of factors that are making investors nervous and prompting them to shed speculative assets.

    “Recent speculation that the FOMC may pass on another rate cut this year, as well as concerns over tariffs, credit market conditions, and equity valuations, helped drive markets lower,” Gerry O’Shea, head of global market insights at Hashdex, said in an email to CoinDesk.

    He added that Bitcoin’s price has also been affected by profit-taking from long-term holders, which he described as “an expected phenomenon as the asset matures.”

    Bitcoin at a crossroads: a test of support

    Following the plunge, Bitcoin staged a modest rebound to trade around $101,000. However, the token remains down 5.5% over the past day and more than 10% for the week.

    The pain was more severe for altcoins, with Ether dropping 10%, while Solana and BNB lost 8% and 7% respectively.

    Despite the sharp downturn, some analysts believe the long-term picture for Bitcoin remains positive.

    “While $100,000 may be a psychologically important support level, we do not view today’s price action as a sign of a weakening long-term investment case for Bitcoin,” O’Shea said.

    With the Federal Reserve’s next move uncertain and global risk appetite fragile, the coming days will be a crucial test for the market, determining whether Bitcoin can hold its current level or if another wave of forced selling is on the horizon.

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  • Bitcoin tests $116K resistance ahead of Fed decision; new token launches stir market

    Bitcoin tests $116K resistance ahead of Fed decision; new token launches stir market

    • Bitcoin stalls near $116K as Fed’s policy decision draws focus.
    • Major altcoins trade sideways amid low volumes and uncertainty.
    • Velora (VLR) and Project Merlin (MRLN) set to redefine DeFi ecosystems.

    Bitcoin is once again testing the nerves of crypto market participants as its price hovers near $1,16,000, battling a stubborn resistance just as the global spotlight turns to the US Federal Reserve’s mid-September policy meeting.

    In the early hours of September 16, Bitcoin traded at $1,15,200, trimming modest overnight gains amid lower trading volumes and a cautious risk mood.

    The benchmark cryptocurrency’s market cap stands at a robust $2.29 trillion, with 24-hour volumes just over $52 billion, evidence that, while enthusiasm has tempered, the appetite for digital gold remains very much alive.

    The shadow of the Fed’s upcoming decision has left broader markets listless, and crypto is no exception. Investors remain on high alert for clues around possible rate adjustments after a string of resilient US inflation data.

    Any shift in policy or surprise rhetoric could produce short, sharp moves across all risk assets, with Bitcoin particularly sensitive given its recent struggle to clear the $1,16,000 threshold.

    Bullish momentum still elusive

    Ethereum, the second-largest digital asset by market cap, followed suit, changing hands at $4,522.

    Ether has struggled to regain bullish momentum since its recent spike to $4,609 and is now trading in a narrow band with tepid demand from larger holders.

    Despite a record high in stablecoin activity on its chain last week, ETH appears tethered to macro narratives, quietly mirroring Bitcoin’s cautious trajectory.

    XRP, meanwhile, steadied at $2.99 after pulling back from recent local highs.

    Recent treasury movements from notable digital asset management firms have steadied sentiment but haven’t sparked breakout momentum, as regulatory debates around the token continue to play out in key jurisdictions.

    Solana is also in the spotlight, with its price down slightly to $233.67 following last week’s rally.

    The token, known for its fast and low-cost transaction capabilities, has seen volatility creep back in, as short-term traders wade in to capture swings on the back of the broader market’s uncertainty.

    Technical analysts note the next major support levels sit close to $220, underscoring the need for positive catalysts to maintain current valuations.

    Dogecoin, always the wildcard, is trading at $0.2677 after a 24-hour spell that saw the meme coin flirt with both $0.26 support and $0.28 resistance.

    While DOGE’s narrative is often ruled by social media and celebrity hype, the current environment has left even seasoned “shibes” trading cautiously, awaiting clearer signals from both the Fed and broader risk markets.

    With key resistance levels drawing closer across major coins, market eyes will remain glued to the outcome of the Fed meeting.

    Until then, expect crypto prices to oscillate around their current bands, with Bitcoin eyeing that crucial $1,16,000 break as the catalyst for renewed bullish conviction or yet another test of market resolve.

    New launches fuel crypto buzz

    Several major crypto launches and ecosystem upgrades are about to shake up the market, promising to unleash a new spark of trading action.

    On Tuesday, all eyes are on Velora (VLR) and Project Merlin (MRLN) as they make their much-anticipated debuts.

    Velora’s launch signals a push into the next generation of DeFi, with its $VLR token powering intent-based cross-chain trading and unlocking gasless staking and community rewards.

    Meanwhile, Project Merlin steps onto the scene offering an all-in-one Web3 ecosystem that connects blockchain entrepreneurs, communities, and investors, complete with a robust launchpad, crowdfunding, and freelance ecosystem, all tied together by the $MRLN token and launching with airdrops across major exchanges.

    These releases are more than just hype; they reflect how the industry is charging ahead with technical innovation and shifting toward tailored, ecosystem-first infrastructure.

    But it’s not just token launches grabbing investor attention. On the regulatory front, Hong Kong just locked in fresh banking capital guidelines for digital assets, set to take effect in January 2026.

    The big shift? Banks are facing a 1:1 capital provision for any exposure to “permissionless” blockchains.

    The move is expected to bolster confidence for institutional players looking for a safer entry into crypto markets.

    Added to that, Ripple is making headlines via a new partnership in Japan that brings its RLUSD stablecoin further into the nation’s payments rails, underscoring digital assets’ climb toward mainstream financial integration.

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  • Bitcoin tests key levels near $95K as regulatory tailwinds emerge

    Bitcoin tests key levels near $95K as regulatory tailwinds emerge

    Crypto news today: Bitcoin holds firm above $93K, fueled by record ETF inflows and bullish forecast

    • Bitcoin holds steady above $93,000, showing resilience after earlier correction.
    • US Spot Bitcoin ETFs saw massive $1.2B+ weekly inflow (“Pac-Man mode”), signaling strong institutional demand.
    • US Federal Reserve joined OCC/FDIC in withdrawing previous restrictive crypto guidance for banks.

    Bitcoin continues to demonstrate significant resilience, maintaining levels above the crucial $93,000 mark after weathering a notable correction earlier this year.

    This stability is underpinned by a confluence of factors, including surging institutional interest evidenced by record ETF inflows, increasingly bullish long-term price predictions, and a potentially easing regulatory landscape.

    A primary driver of the recent strength has been the remarkable influx of capital into US-listed spot Bitcoin exchange-traded funds (ETFs).

    These investment vehicles experienced substantial demand this week, attracting nearly $1.3 billion in net inflows, according to data from SoSoValue.

    Tuesday alone saw inflows nearing the $1 billion mark, representing the strongest single day since mid-January.

    This brings the total assets under management across these spot Bitcoin ETFs to an impressive $103 billion.

    BlackRock’s iShares Bitcoin Trust (IBIT) continues to lead the pack, accumulating $2.7 billion year-to-date, including $346 million just last week.

    Observing the broad participation across ten of the eleven available funds, Bloomberg senior ETF analyst Eric Balchunas described the activity vividly, stating the ETFs had entered “Pac-Man mode.”

    This widespread buying across multiple providers, rather than concentration in just one or two, suggests a broadening base of institutional conviction.

    The total value traded across all spot Bitcoin ETFs reached $496 million, reflecting significant market activity.

    Lofty projections: ARK Invest eyes $2.4 million bitcoin

    Fueling longer-term optimism, prominent investment firm ARK Invest recently made headlines by significantly raising its 2030 price targets for Bitcoin.

    Citing institutional investment as a primary catalyst, ARK lifted its “bull case” scenario from $1.5 million to a striking $2.4 million per Bitcoin by the decade’s end.

    The firm also increased its “base” case to $1.2 million and its “bear” case to $500,000.

    ARK research analyst David Puell explained the rationale, estimating Bitcoin could achieve a 6.5% penetration rate within the massive $200 trillion global financial system in their most optimistic scenario.

    Furthermore, the firm’s model incorporates Bitcoin’s growing acceptance as “digital gold,” projecting it could capture up to 60% of gold’s approximately $18 trillion market capitalization.

    Technical picture: holding support, eyeing breakout

    From a technical analysis perspective, maintaining current levels is seen as critical.

    Analysts emphasize the importance of Bitcoin holding support above the $93,500 zone to avoid potential downward pressure.

    Crypto analyst Rekt Capital suggested BTC needs to consolidate above this level, ideally securing a weekly close above it, to “resynchronize with the former Reaccumulation range.”

    Bitcoin has demonstrated its ability to trade above this mark this week, potentially reflecting its appeal as a safe haven amid ongoing geopolitical and trade uncertainties.

    Sustaining this support could pave the way for a retest of the $100,000 barrier and potentially new all-time highs, according to expert consensus.

    Further technical indicators point towards underlying market strength.

    The amount of Bitcoin supply held in profit has reportedly surpassed the 16.7 million BTC “threshold of optimism.”

    Historical analysis suggests that when Bitcoin consistently holds above this zone (as seen in 2016, 2020, and 2024), significant price appreciation often follows within months.

    Traders like CrediBULL Crypto are looking for “one more leg on the lower timeframes” to confirm the breakout, suggesting momentum could potentially carry prices towards the $150,000 region if sustained.

    Regulatory winds shifting? Fed withdraws guidance

    Adding a potential tailwind, US banking regulators, including the Federal Reserve, recently took steps to withdraw previous crypto-specific guidance issued to banks in 2022 and 2023.

    These earlier notices had often required pre-approvals for banks engaging in crypto activities and highlighted perceived risks.

    By joining the Office of the Comptroller of the Currency (OCC) and the Federal Deposit Insurance Corp. (FDIC) in rescinding this guidance, the Fed stated the move aims to ensure its “expectations remain aligned with evolving risks and further support innovation in the banking system.”

    While not creating new rules, this withdrawal effectively places decisions on crypto engagement more firmly in the hands of bank managers and compliance teams, pending potential future legislation from Congress.

    Fed officials noted they “will instead monitor banks’ crypto-asset activities through the normal supervisory process,” potentially signaling a less prescriptive regulatory posture from these key agencies.

    The combination of strong institutional inflows, ambitious long-term outlooks, supportive technicals, and a potentially less restrictive regulatory environment paints a compelling picture for Bitcoin as it holds key levels and eyes its next potential move higher.

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  • Aave spikes to 5-month high as Bitcoin tests area near $62k

    Aave spikes to 5-month high as Bitcoin tests area near $62k

    • Aave reached a five month high above $143 with a 14% spike.
    • Bitcoin broke to above $61,800, with price gaining 4% amid fresh crypto resilience.

    Aave continued to outperform peers on August 21 with a sharp ascend to its highest level in five months. Meanwhile, Bitcoin price broke above $61,800 with a 4% surge in 24 hours.

    AAVE spikes 14% to hit 5-month high

    Decentralised finance (DeFi) protocol Aave (AAVE) was among the top gainers on Wednesday after surging more than 14% to hit highs of $143. Aave’s native utility and governance token reached the level amid huge whale activity in the past few days.

    There was also positive news for Aave after the DeFi project’s Aave V3 deployed on ZKsync Era Mainnet.

    AAVE price forecast

    Rising to above $143, Aave’s price moved to its highest level since March 2024. This is the period when Bitcoin rode the halving mania and spot BTC exchange-traded funds to reach its all-time high.

    AAVE’s push to current levels means the altcoin could eye fresh gains to the $177-$200 price area. However, the spike in AAVE price has also seen a sell signal flash on the daily chart.

    Crypto analyst Ali Martinez shared this price outlook for AAVE earlier in the day.

    Bitcoin bulls target breakout above $60k

    While Bitcoin has struggled for momentum since the brutal sell-off in early August, bulls have remained largely undeterred. Buyers have shown great resolve in their quest to rally above the $60k.

    In the past 24 hours, the benchmark crypto has climbed to above this crucial level and currently looks set to extend the slight advantage.

    BTC has reached an intraday high above $61,838 on top crypto exchange Bitstamp.

    BTC chart

    The gains have the BTC/USD pair touch the 50-day simple moving average, accentuating the formation of an ascending triangle pattern. In technical analysts, the ascending triangle is seen as a bullish chart pattern where the resistance level follows a horizontal line.

    Meanwhile, swing lows follow a rising trendline that forms a narrowing triangle as price looks to resolve on the upside.

    BTC/USD daily chart. Source: TradingView

    Bitcoin’s daily chart suggests this is the case for BTC since the dip to lows of $49,577 on August 5. Notably, the 50-day SMA currently acts as a robust hurdle. If bulls decisively break higher, price could target the key supply wall around $68,255.

    However, should weakness resurface, the primary support area could be around $58,266 and then $55,800.

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  • Bitcoin tumbles, tests $49,000, amid major crypto selloff

    Bitcoin tumbles, tests $49,000, amid major crypto selloff

    Bitcoin tumbles, tests $49,000, amid major crypto selloff
    • Bitcoin briefly tests $49k before rebounding to $51k amid a $270 billion crypto market selloff.
    • Concerns over the US recession and Japan’s rate hike trigger market turmoil.
    • FBI warns of rising crypto scams during increased market volatility.

    The cryptocurrency market has experienced a significant downturn today, shedding approximately $270 billion in value over 24 hours according to CoinGecko data. Leading this decline, Bitcoin plummeted by almost 20%, reaching $49,121, its lowest level since February at $53,091.

    Bitcoin price chart

    Ether also suffered a substantial drop of 21%, falling to $2,300, erasing its gains for the year. Other cryptocurrencies like Binance’s BNB and Solana have also suffered significant losses.

    Bank of Japa hikes its benchmark interest rate

    This dramatic downturn in the crypto market coincided with a broader selloff in equities, particularly in Asia-Pacific markets, exacerbated by Japan’s Nikkei 225 falling by as much as 7%.

    The Bank of Japan’s decision to hike its benchmark interest rate to the highest level in 16 years triggered this selloff, sending shockwaves through financial markets.

    The US Nasdaq also slid into correction territory, marking its worst three-week stretch since September 2022, further contributing to the decline in risky assets, including cryptocurrencies.

    The market’s reaction was influenced by Japan’s monetary tightening and the US Federal Reserve’s recent actions.

    Although the Fed opted to hold its benchmark rate steady, it did not indicate a rate cut in September, which many market experts had anticipated.

    This uncertainty added to the market’s anxiety, causing traders to price in a 100% chance of lower US base rates in September.

    Concerns of a potential US recession

    The selloff reflects growing concerns about a potential US recession, triggered by softer economic data and rising geopolitical tensions.

    Tony Sycamore, a market analyst at IG, highlighted that Bitcoin and other cryptocurrencies are risk assets and are highly susceptible to market volatility. He noted that Bitcoin is currently testing crucial support levels and must hold the $53,000 mark to prevent further declines.

    However, at press time Bitcoin was trading at $51,657, well below this support level, despite making a comeback from around $49k.

    FBI issues warning

    The cryptocurrency market’s volatility has also heightened security concerns. The FBI has issued a warning about scammers exploiting the market crash to steal users’ funds.

    The FBI advised users to be cautious of unsolicited messages or calls indicating account problems and urged them to verify any issues through official channels. The agency’s warning comes amid a significant increase in crypto-related fraud and hacking incidents.

    In the first half of 2024, hackers stole nearly $1.4 billion worth of crypto, more than double the amount stolen in the same period in 2023.

    This increase is attributed to the rising value of various tokens, including Bitcoin, Ethereum, and Solana. Ari Redbord, global head of policy at TRM Labs, noted that while the security of the cryptocurrency ecosystem has not fundamentally changed, the higher value of tokens has made them more attractive targets for criminals.

    As Bitcoin and other cryptocurrencies navigate these turbulent times, investors and users should remain vigilant about market conditions and potential security threats.

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  • Bitcoin price tests key resistance amid Hong Kong news

    Bitcoin price tests key resistance amid Hong Kong news

    • Bitcoin price rose to $27,500 on Coinbase early Tuesday, with the upside coinciding with positive crypto news from Hong Kong.
    • This is after the Securities and Futures Commission (SFC) announced that registered exchanges will begin allowing retail investors to trade BTC and ETH from 1 June.
    • Analysts say Bitcoin’s immediate price outlook needs a break above $27,600 for bullish continuation.

    Bitcoin (BTC) traded to highs of $27,500 on Coinbase as crypto prices bounced earlier on Tuesday.

    The upside for the world’s largest cryptocurrency by market cap came amid an extended struggle around the 27k area, and happened as bulls capitalised on positive market reaction to news out of fast-growing crypto hub Hong Kong.

    However, as of writing, the price of Bitcoin was hovering near $27,200 as bulls retreated from the resistance level marked by the 20-day moving average on the daily chart.

    BTC price rose amid positive news from Hong Kong

    On Tuesday, crypto news out of Hong Kong was that retail investors will as from 1 June be able to buy and trade digital assets.

    The announcement was made by the Securities and Futures Commission (SFC), which noted that crypto exchanges will soon be allowed to extend crypto trading services to retail investors. 

    According to the SFC, this will be effective 1 June, 2023, and tokens that receive the nod would require a 12-month track record. The tokens will also need to have a substantial market capitalization, a category that Bitcoin dominates.

    “The news of Hong Kong allowing retail investors to trade in BTC and ETH on registered digital asset platforms delivered a notable BTC price bump in a bleak market – gives you an idea of how significant this news is,” Noelle Acheson, the author of the Crypto Is Macro Now newsletter, said in a tweet.

    Acheson believes the next key step of this announcement is that indeed retail investors can trade Bitcoin and Ethereum on registered exchanges.

    $27,600 is a key level for BTC – analyst

    Despite the positive news, Bitcoin’s latest attempt to break to key levels above $28k look to hinge on overall market outlook. In particular, the headwinds currently in place regarding the US debt limit situation is one investors are likely to watch keenly.

    On what could be next for Bitcoin price, crypto analyst Rekt Capital says the critical resistance area that bulls must conquer for upside continuation is $27,600.

    “BTC may be forming an “exaggerated” Bullish Divergence on the Daily RSI. A potentially positive sign for some upside movement. However, [it is] important to realise that the key resistance to beat is ~$27600,” he noted.

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  • Should you buy Optimism (OP) as token tests support

    Should you buy Optimism (OP) as token tests support

    Optimism (OP) remains in a bullish market. The token tested a monthly-high resistance of $1.37, although it is not cooling down. Its trading volumes are, however, up 54% at $355 million in the past day. The blockchain has been recording significant trading activities. 

    Data from DefiLlama shows a significant gain in Optimism’s TVL over the last three months, peaking at $1.15 billion in August. The growth could be attributed to developers looking for scalability in Ethereum. 

    Optimism is a layer-2 blockchain on Ethereum aimed at the scalability of decentralised applications. The platform launched its testnet in September 2020. Its native OP token allows end users to access dApps on Ethereum cheaply. OP is also useful in governance by granting holders voting rights in the Optimism Collective.

    The current price dynamics of OP token is not tied to anything specific in the industry. However, the fundamentals around scalability have growth potential. Specifically, Optimism rollups, which wrap up transactions into one, could popularise the layer-2 platform.

    OP retraces to $1 support amid a bullish momentum

    Source: TradingView

    The daily technical chart above shows that OP is retesting the support at or around $1. The token looks to have slightly lost the $1 level, although we need further confirmation. A close of the daily candlestick will confirm if a bearish breakout has occurred. To the upside, the immediate resistance is at $1.4, while $1.9 is the longer-term resistance level.

    MACD looks bullish, while the RSI has remained below the overbought zone, meaning it could go higher. 

    Concluding thoughts

    Based on the fundamental aspects, OP could bring value to its users in the long term. From the technical chart, the token is retesting support with a bullish momentum. Although the token is on a retracement, a bounce off from the support level could occur.

    A confirmation of a bullish price action signal would welcome an upside momentum for Optimism. At the current price, it would be prudent to exercise patience until proper buy signals pop up at the immediate support level.

    Where to buy OP

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