SUBSCRIBE
SUBSCRIBE
Try "researchers"
Home Blog Page 5

Bitcoin Tests Key $110K–$112K Resistance Amid Tepid US CPI Print

Josh Alba
-
0
Bitcoin Tests Key $110K–$112K Resistance Amid Tepid US CPI Print

Key Insights:

  • Bitcoin approaches $112K, with analysts warning of either a breakout toward $150K or pullback to key $94K and $80K zones.
  • Spot and futures trading volumes fall to 2020 levels, signaling caution despite Bitcoin ETFs reaching $70B in assets.
  • Institutional inflows into crypto funds hit record highs in May, with BitMine also acquiring 100 BTC for its treasury.

Bitcoin is flirting with resistance levels amid a cautious US inflation print and political heat in the US. BTC is at a critical technical junction, currently sitting just below the $110K – $112K resistance range. This zone, according to analysts, could be the one that decides if Bitcoin will surge to new highs or experience a sharp retracement.

Despite overall network activity and volumes signaling consolidation, institutional interest is growing while spot ETF inflows continue to rise.

Bitcoin Flirts with Resistance as Traders Watch $112K Zone

Bitcoin is trading at $109,480, just 2% off its previous all-time high of around $112K. Technical patterns indicate that a decisive break above this level could take prices to $135K – $150K.

But, rejection at this resistance could cause a short-term pullback towards $100K or lower to $94K and $80K support levels.

BTC USD
Source: X

However, analysts like Crypto Patel are cautious, opening short positions with tight stop losses, saying that the market is overbought.

Moreover, the multi-year charts show an ascending wedge with the neckline resistance. In past cycles, this area has been a reversal zone.

Bitcoin continues to stay above its long-term trendline support, which is bullish for the medium to long-term investors. The strength of volume indicators also shows, but recent metrics suggest the hesitation of the market near these key price levels.

Spot Volumes Drop, Futures Activity Plummets to 2020 Lows

Spot and futures volumes at CEX have plummeted, with futures volumes back at October 2020 lows. TedPillows noted this as a possible ‘HODL mode’ among investors, something that’s common during market indecision or in transition.

A decreasing leverage, as indicated by the current futures to spot volume ratio, will decrease the volatility but will also make the immediate breakout potential less effective.

Bitcoin CEX Futures vs Spot Trading Volume (USD)
Bitcoin CEX Futures vs Spot Trading Volume (USD) | Source: CryptoQuant

But daily Bitcoin network transactions have also fallen to levels not seen since late 2023. While institutional allocations are rising, this slowdown in on-chain activity is divergent from the capital inflows.

Transactions on the Bitcoin Network (Daily, 7DMA)
Transactions on the Bitcoin Network (Daily, 7DMA) | Source: Theblock

Lower activity can be taken as consolidation, but there is still space for sudden big moves once volatility returns. Weak volumes have not been enough to weigh on price, as there is strong ETF accumulation and treasury purchases.

The divergence indicates that long-term holders are accumulating while traders are cautious in the short term. Therefore, any breakout would probably require fresh volume strength to be sustained.

Institutional Flows Drive Optimism Despite Mixed Market Metrics

According to Morningstar, crypto fund net assets hit an all-time high in May as they saw over $7 billion in monthly inflows. This confirms that institutional appetite for digital assets as hedging tools in an increasingly unstable macro environment is growing.

BTC Price chart
Source | X

At the same time, BlackRock’s IBIT ETF reached $70 billion in assets in 341 days, the fastest-growing ETF in history. IBIT was highlighted by Eric Balchunas to have beaten previous records set by GLD and others by a wide margin.

On the other hand, Robert Mitchnick of BlackRock says that this ETF growth continues to attract more institutions and wealth advisors.

But despite that, adoption is still in its infancy, indicating there is more long-term upside.

BitMine Immersion Technologies also announced its first step into Bitcoin treasury strategy by purchasing 100 BTC. The company acquired the coins using the proceeds from recent capital raises and with confidence in BTC’s long term value proposition.

Corporate accumulation of such helps to build a floor for Bitcoin prices, especially when paired with institutional ETF demand.

Bitcoin’s Market Cap Still Trails Major Asset Classes

Bitcoin, which has now hit $2 trillion in market cap, is still tiny compared to other global asset classes. The cryptocurrency runway for long-term growth is real estate, bonds, and equities, all of which are greater than $100 trillion.

global asset by market cap
Source |X

Although the ETF activity and corporate involvement are on the rise, the Bitcoin Conference noted that this gap is indicative of early-stage adoption. Long-term holders are being supported by these comparisons, but price action is still dependent on short-term technical dynamics.

$15 Billion In Bitcoin Bullish Positions Are On The Way To Liquidation: Here’s How

Maxwell Mutuma
-
0
$15 Billion In Bitcoin Bullish Positions Are On The Way To Liquidation: Here’s How

Key Insights:

  • Bitcoin’s recent recovery from $100,500 to $105,500 shows an incoming short squeeze that could liquidate $15 billion in bearish positions.
  • Analyst Rekt Capital notes that Bitcoin has just broken a two-week downtrend, with a daily close above $106,600.
  • A 10% upward move in Bitcoin’s price could trigger $15.1 billion in short liquidations, as opposed to only $9.6 billion for a 10% downside move.

Bitcoin’s price action is heating up, and traders are watching the $100,000–$110,000 zone for a breakout in either direction.

After enduring a short-lived correction down to $100,500, BTC is back to showing signs of strength, with some analysts predicting a possible short squeeze.

The interesting part about this short squeeze is that it could liquidate over $15 billion worth of bearish positions. Here’s how multiple indicators are flashing bullish signals and the levels to watch in the days ahead.

Bulls Return as Bitcoin Reclaims Support

Bitcoin’s price dipped to around $100,500 earlier in the week. However, it has since rebounded and is hovering near the $105,500 mark by the 8 June weekly close. The recovery has since made investors more optimistic, as analysts continue to bet on a continued uptrend.

According to crypto analyst Rekt Capital, Bitcoin has now broken out of a two-week downtrend on the daily chart. This breakout, if followed by a daily close above $106,600, would indicate that BTC is turning prior resistance into support.

Bitcoin showing signs of a breakout
Bitcoin showing signs of a breakout | Source: X

So far, Bitcoin has completed a daily close above the 10-day simple moving average, which means that the bulls are winning on the short-term as well.

This means that the rise to the upside has great chances of remaining intact.

Why a Short Squeeze Could Be Close

Market data shows that a huge concentration of short positions currently hanging in the balance. In a now viral Twitter (now X) post, Cas Abbe, a well-followed crypto analyst, pointed out the possibility of a short squeeze.

Think of a short squeeze as a scenario where rising prices force short-sellers to buy back their positions. This results in an even stronger uptrend, alongside massive liquidations.

According to Abbe’s analysis, a 10% price increase from current levels could trigger the liquidation of approximately $15.1 billion in short positions. In contrast, a 10% move to the downside would only result in about $9.6 billion in long liquidations.

Bitcoin liquidations could hit $15 billion
Bitcoin liquidations could hit $15 billion| Source|X

This imbalance shows that the market is currently skewed in favor of bearish bets.

Considering how the market tends to do the opposite when it comes to investor sentiment, a bullish surge could be inbound.

“BTC liquidation cluster is now signaling an upside move,” Abbe noted.

He also pointed out that funding rates had turned negative over the weekend. This shows that traders are aggressively shorting the market. If Bitcoin were to rally beyond $109,000–$110,000, many of these short positions would be forced to close.

$100K Holds as Psychological and Technical Support

While many eyes are on the upside, others are still focused on the strength of Bitcoin’s $100,000 support level. Trader CrypNuevo mentioned that he was building long positions near the $100K mark, considering its status as the strongest psychological support area.

He also pointed out that it offered “easy invalidation,” which means that it is a clear stop-loss level for managing risk.

Rekt Capital agrees with this, stating that the $104,400 level was important for confirming a successful support retest. A weekly close above this level would mark four consecutive higher closes, which is a sign of growing bullish conviction.

Important supports for Bitcoin
Important supports for Bitcoin | Source: X

CryptoKing, another trader, described the current price action as the “calm before the storm.” With BTC compressing just below the $107,800 resistance, he pointed out a classic volatility squeeze, saying “If we flip resistance this time, the next stop is $120K.”

When Will Altcoin Season Begin? Analyst Michael van de Poppe Weighs In

Jackson Kelley
-
0
When Will Altcoin Season Begin? Analyst Michael van de Poppe Weighs In

Key Insights:

  • Crypto analyst Michael van de Poppe believes that an altcoin season is on its way.
  • Bitcoin’s current dominance is a major indicator for an incoming capital rotation into altcoins.
  • Altcoins have seen some prolonged underperformance since late 2021, with many losing up to 90% of their value.

After spending the last few years underperforming compared to Bitcoin, the altcoin market might finally be near a turning point.

According to renowned crypto analyst Michael van de Poppe, an altcoin season could be just around the corner. While Bitcoin continues to take over headlines and market share, Van de Poppe believes the current outlook is a major accumulation opportunity for altcoins. Here’s a breakdown of his reasoning and what investors should be watching for.

Bitcoin’s Dominance is a Signal, Not a Barrier

Bitcoin currently holds more than 64% of the total crypto market cap, according to CoinMarketCap. This level of dominance shows that capital is flowing mostly into BT, while the rest of the market, especially altcoins takes a back seat.

However, Van de Poppe argues that this isn’t necessarily a bad thing. In fact, it could be a precursor to an altcoin season.

Bitcoin dominates the general crypto market
Bitcoin dominates the general crypto market | Source: CoinMarketCap

Historically, once Bitcoin reaches a local top and investors start to take profits, the next logical step is a rotation into altcoins. Traders tend to start looking for better risk-reward ratios and higher potential returns.

Altcoins tend to offer just that, especially when they are still trading far below previous all-time highs compared to Bitcoin

Altcoins Have Been in a Prolonged Cooldown

While Bitcoin has been rallying and reaching new highs almost every few months, altcoins have largely remained stagnant or in slow decline. Since the late stages of the 2021 bull market, many of these assets have lost as much as 90% of their value.

Even as Bitcoin has pushed past the $100,000 mark, many well-known altcoins like Ethereum, Litecoin and EOS have failed to keep pace. This underperformance doesn’t show poor fundamentals or a lack of development as anyone would think at first glance.

Instead, it shows a wider market pattern where Bitcoin is leading the charge, and altcoins are following with some lag. Van de Poppe believes that we are in the final stages of that lag, and the altcoin accumulation phase may soon give way to a full-blown rally.

Macroeconomic Forces Are Still in Play

Another reason for the delay in altcoin momentum is the general macroeconomic backdrop. Investors across worldwide markets are still dealing with fears over central bank policy, persistent inflation and the looming threat of a recession that shakes the world. These factors are making risk assets, including most cryptocurrencies less attractive in the short term.

Van de Poppe notes that while Bitcoin and gold have both benefited from this uncertainty, altcoins are often seen as more speculative.

A few months for the altcoins to shine
A few months for the altcoins to shine | Source: X

As a result, while Bitcoin and Gold make headlines, the altcoins have been left behind as investors scramble for safer stores of value. Van de Poppe also pointed out that gold recently reached a new all-time high, which supports the idea that institutional investors are playing it safe.

Once market confidence improves, though, those same investors may begin rotating into altcoins especially if they’re hunting for yield or growth.

Where Are We in the Market Cycle?

The crypto community is still divided so far. Some believe we’re still in a bear market, while others argue that the next bull run has already begun. Van de Poppe is more on the latter side, and believes that now is the time for forward-thinking investors to start building positions in altcoins.

“Retail isn’t paying attention right now,” he says. “And that’s exactly when smart money starts buying.”

He explains that altcoin rallies often begin quietly, without much media attention. Early gains are typically taken advantage of by experienced traders and institutions that recognize the signs before the crowd catches on.

By the time the average investor hears the words “altcoin season,” many of the best opportunities have already passed. With all of this said, if the cycle repeats as it has before, the rotation into altcoins could start in the coming months.

Javier Milei Cleared In LIBRA Memecoin Scandal: What We Know So Far

Josh Alba
-
0
Javier Milei Cleared In LIBRA Memecoin Scandal: What We Know So Far

Key Insights:

  • Argentina’s Anti-Corruption Office has officially cleared President Javier Milei in the LIBRA memecoin scandal.
  • The LIBRA token’s market cap surged to over $4 billion after Milei’s February 14th X post, only to plummet 94% after.
  • The OA’s investigation concluded that Milei’s personal X account did not use government resources for the endorsement.

Argentina’s President Javier Milei has been officially cleared of wrongdoing in the LIBRA memecoin scandal that shook the crypto space back in February.

The country’s Anti-Corruption Office (OA) recently concluded its investigation and determined that Milei did not violate any federal ethics laws. This is despite the massive fallout and how drastically the token crashed after his endorsement.

Even though this ruling provides legal relief for the president, the scandal, which is now nicknamed “Cryptogate” by the media is far from over. Here’s everything we know so far.

The Rise and Fall of the LIBRA Token

The controversy started on 14 February,, when President Milei posted about the LIBRA token on his personal X account.

Within hours, the token’s market cap skyrocketed to over $4 billion, mostly fueled largely by the trust his followers placed in the presidential endorsement.

However, it all came crashing down shortly afterwards.

How it all started
How it all started | Source: X

Just as fast as it rose, the token plummeted by 94% in value and investors suffered heavy losses. The resulting backlash was immediate, with opposition leaders accusing Milei of running a pump-and-dump scheme.

They claimed that he misled the public into investing in an under-researched asset. The event ignited severe backlash across Argentina and lawsuits flooded the courts as investors demanded accountability.

Anti-Corruption Office Says Milei Acted as a Private Citizen

After several months of investigation, Argentina’s Anti-Corruption Office released its findings in June and has now cleared Milei of any official misconduct. According to the OA’s statement, the president had posted about LIBRA in a personal capacity, not as a representative of the government.

The OA pointed out that Milei’s X account had been in use since 2015, long before he assumed the presidency.

Moreover, the account had also been used for personal and political expression before the scandal. It also clarified that no government resources were used to promote the LIBRA token.

“These characteristics of the personal account on the social network X are typical of any citizen who publicly expresses their political ideas,” the report stated.

In essence, the OA found no evidence that Milei used his official status or authority to promote the token.

There was no misuse of power, no allocation of public funds and no breach of government ethics according to the agency.

Milei Was Merely “Spreading the Word”

Throughout the controversy, Milei has maintained that he did not promote LIBRA for personal gain. He argued that he only endorsed the token to raise awareness about a new financial tool that could help small businesses in Argentina.

Interestingly, after the token’s massive crash, Milei deleted the original post and even encouraged an official investigation.

His administration later signed a decree to dissolve the special task force formed to probe the scandal, after saying that its work had been completed and the findings had been forwarded to federal prosecutors.

However, not everyone is convinced. Despite the OA’s official clearance, many critics believe the investigation lacked transparency. Some like Itai Hagman, an economist and member of the Chamber of Deputies argue that the dismantling of the task force was a deliberate ploy to bury the scandal, not to close it with integrity.

“It was always a fake, they never dared to investigate anything at all,” Hagman said in a fiery post on X. “They’re covering each other up because they’re completely up to their necks in it.”

Critics cry foul
Critics cry foul| Source| X

These comments show the growing divide between Milei’s supporters, who see him as a reformer and his critics, who accuse him of using his political clout to dodge accountability.

Legal Investigations Extend Beyond Argentina

The fallout from the LIBRA scandal is not confined to Argentine soil. International legal investigations are now in progress, especially in the United States and the United Kingdom.

A U.S. federal court recently froze over $58 million in USDC linked to Hayden Davis, one of LIBRA’s major romoters. The Southern District of New York is also examining possible fraud affecting American and British investors who suffered losses during the LIBRA crash.

Davis’s involvement adds another layer of complexity. According to reports, he met with Milei on 30 January, just two weeks before the infamous post.

However, the OA report firmly denied any formal ties between Davis and the Argentine government, stating he had been introduced to Milei by members of KIP Protocol, one of LIBRA’s partners.

Solana Could Be Headed For A Massive Price Surge: Here’s What You Need To Know

Maxwell Mutuma
-
0
Solana Could Be Headed For A Massive Price Surge: Here’s What You Need To Know

Key Insights:

  • Crypto analyst Master Ananda predicts that Solana (SOL) could be on its way to $620 or even $1,020 by early 2026.
  • Solana’s recent 24% price correction from $188 to $141 may be ending, with the formation of a higher low on the daily charts.
  • Technical indicators like the 50-day and 200-day SMAs and a 14-day RSI show mild bearish pressure, and opportunity for bullish control.

Solana might be on track for a massive price rally straight up to $620 or even $1,020, according to crypto analyst Master Ananda.

While recent market ups and downs have caused a correction in Solana’s price, technical indicators show that the worst may be over. If current trends hold. Here’s why Solana may be ready for a major comeback by early 2026.

Solana’s Current Market Position

At the time of writing, Solana has a current price of around $149.52, after recovering slightly from a recent dip to $141 from last week. While the cryptocurrency is currently trading red on the daily timeframe, it is still outperforming many other cryptocurrencies in the top 100.

Earlier this year, SOL reached as high as $188, before declining by around 24%. This drop has raised some interesting questions about whether the rally is over.

However, analysts like Master Ananda believe that this pullback could actually be setting the stage for a larger upside move.

Solana according to CoinMarketCap
Solana according to CoinMarketCap | Source: CoinMarketCap

According to Solana’s charts, the technical outlook is mixed. However, there are signs of strength here and there.

For examople, Master Ananda pointed out the 50-day Simple Moving Average, which sits at $161, alongside the  200-day SMA is at $164.19.

These figures indicate that while SOL is facing some short-term resistance, a breakout above could end the short term sluggishness and trigger fresh momentum.

Moreover, the 14-day RSI is currently 40.14, which shows that the bearish pressure is mild. It also indicates that Solana hasn’t entered oversold territory yet, which gives bulls a great opportunity to regain control.

This setup has analysts watching closely for a “higher low” formation, which could be a confirmation that the correction phase is ending.

The Fibonacci Blueprint

According to Master Ananda, the Fibonacci extension levels are showing some interesting price levels for Solana. For example, the 1.618 Extension  around $420 is considered the minimum bullish target.

If Solana were to reach and break above this level, it would show that the market is regained some strength.

Insights from master Ananda
Insights from master Ananda | Source: TradingView

In addition, the 2.618 Extension  around $620 is seen as the main target. This means that a move to this level would be the perfect indicator of bullish momentum and investor confidence.

Moreover, the 4.618 Extension  around 1,021 serves as the extended bullish scenario. This would require a longer-term breakout if Solana maintains its uptrend and the general market conditions remain favorable. These levels aren’t merely speculation. They are instead based on previous price action and retracement behavior.

The recent 24% correction has created what now looks like a higher low on the chart. If confirmed, this could be a turning point that launches Solana toward these bullish targets.

A Realistic Timeline

If this bullish scenario plays out, Master Ananda believes that Solana could hit $620 by January 2026.  This would stands as a 316% increase from current prices.

In addition, at a current price of $620, Solana’s market cap would reach approximately $325 billion. This price tag would bring the cryptocurrency closer to Ethereum’s current standing, especially if Ethereum continues its slow growth.

In fact, some believe Solana could challenge Ethereum’s dominance in DeFi and NFTs if this trend continues. Overall despite the optimism, Master Ananda warns traders not to short during a bull market, considering how sudden reversals can quickly wipe out gains.

To top things off, Solana’s dip from $188 to $141 may have already run its course. And if a new higher low is established, the stage is set for a bullish breakout over the coming months.

Dogecoin Primed For Takeoff As $4.6B Liquidity Builds Near $0.19 & $0.1995

Josh Alba
-
0
Dogecoin Primed For Takeoff As $4.6B Liquidity Builds Near $0.19 & $0.1995

Key Insights:

  • DOGE has formed hidden bullish divergence, hinting at trend strength even as price consolidates near support.
  • Over $4.6B in liquidation liquidity sits between $0.189 and $0.1995, a critical magnet zone for price movement.
  • Derivatives metrics soar with a 45% volume jump and 1,673% spike in options trades, showing strong market interest.

Dogecoin is at a critical point as technical indicators and derivatives activity continue to rise.

Analysts point out that the $0.19 – $0.1995 area is a key liquidity cluster to watch as the price hovers near $0.186.

DOGE has over $4.6 billion in liquidation liquidity stacked above the current price, which could mean it is preparing for a squeeze.

At the same time, bullish divergence and increasing interest in options markets suggest the breakout move is in the cards.

Liquidity Builds Near $0.19 as Dogecoin Eyes a Potential Breakout

At the moment, DOGE is orbiting around a tight range just below two major liquidation levels. They are $0.189 with $2.46 billion in potential short liquidations behind it and $0.1995 with $2.14 billion in risk. This liquidity clustering is the perfect setting for sudden upward spikes.

Often, such levels are market maker targets or catalysts for forced buying when breached. When the price reaches these zones, shorts may start to get liquidated, which could help propel a quick breakout.

DOGE liquidation heatmap
DOGE liquidation heatmap | Source: CoinGlass

These liquidity levels are among the most crowded in the current market structure, as the heatmap confirms. Whether DOGE will break through these resistances or not will determine its next trend.

Bullish Divergence on the RSI Signals Hidden Strength for Dogecoin

Dogecoin is holding support, building hidden bullish divergence on the daily RSI, according to analyst Tardigrade.

When price makes lower or equal lows, and RSI forms higher lows, this means that there is internal strength. That’s a signal that buyers are taking pressure and getting ready for higher bids.

Dogecoin hidden bullish divergence
Dogecoin hidden bullish divergence | Source: X

The ascending support trendline from several weeks ago remains in play for the price action. The base that is rising here matches past pre break out formations where DOGE compressed before the surge. Historically, volume returns gradually before the continuation of bullish cycles in altcoin cycles.

Moreover, the DOGE is riding its mid band, which it usually respects before upward movement on the Gaussian channel.

This structure formed the last time, and DOGE rallied more than 16, 000% over the following months. Momentum holding is an indicator that another strong move could be in development.

Doge gaussian channel
Doge gaussian channel | Source: X

Additionally, Binance and OKX funding rates are still positive but not overheated. This implies that long traders are paying a premium and there is not extreme leverage. Such conditions are usually conducive to a healthy continuation rather than a blow off top.

Rising Speculation and Futures Activity Could Point to a Bigger Move Ahead

Trader participation in DOGE was also on the rise, as futures volume saw a 45.26% increase to $3.13 billion in 24 hours.

Open interest is up 0.71% to $1.99 billion, options volume is up 1,673.9% to $386.7 million. As a rule, this sharp rise in speculative activity indicates that a strong directional move is building.

Dogecoin
Source: CoinGlass

DOGE options open interest also soared 449.53% to $437.05K, indicating large amounts of hedging or directional positioning.

And not only are traders betting on volatility, they are allocating capital to the upside. This comes in line with the structural bullish cues from the spot and technical charts.

Binance and OKX are leaning long/short ratios heavily long: 2.45:1 and 2.56:1, respectively. All these are pointing to Dogecoin coming back on the radar of institutions and speculators.

DOGE’s options market is also maturing, with more traders employing complex strategies as opposed to simple leverage.

The more confident people get, the more capital they bring into breakout setups like this, as long as macro conditions support altcoin rotations.

Ethereum Leads As Crypto Fund Inflows Slow On Fed Policy Concerns

Jackson Kelley
-
0
Ethereum Leads As Crypto Fund Inflows Slow On Fed Policy Concerns

Key Insights:

  • Ethereum saw $296.4M in inflows, accounting for 10.5% of global ETH fund assets under management.
  • Bitcoin had $56.5M in outflows, its second straight week of negative institutional flows.
  • U.S. funds led with $175M inflows, while Hong Kong and Brazil recorded net outflows.

Digital asset fund inflows last week were led by Ethereum with $296.4m, its strongest streak since late 2024. Meanwhile, outflows from Bitcoin amounted to $56.5 million as caution grows.

Regional flows changed amid policy uncertainty, with the U.S. and Germany gaining while Hong Kong and Brazil were redemptions.

Ethereum Leads Global Inflows with Renewed Institutional Demand

Digital asset investment products saw the strongest inflows last week, with $296.4 million flowing into Ethereum products. This marks Ethereum’s seventh straight week of positive flows, totalling about $1.5 billion.

With 10.5% of global Ethereum fund assets under management (AuM), this level is a big share for a single asset.

Weekly crypto asset flows
Weekly crypto asset flows | Source: CoinShares

All of these flows came from U.S.-based spot Ethereum exchange-traded funds, which pulled in $281.3 million. Now, these ETFs have enjoyed 15 straight trading days of net inflows, raking in $837.5 million during that time.

The inflows are consistent, and as ETH-based investment vehicles become more accessible and regulated, the interest from institutions is growing.

Ethereum’s latest inflow streak is its strongest since the U.S. election at the end of 2024. Investor optimism was high at the time due to more clarity on regulatory expectations.

Ethereum is gaining popularity now for similar reasons, with staking capabilities, DeFi exposure and general network utility over other assets.

Bitcoin Sees Second Week of Outflows as Sentiment Cools

On the other hand, Bitcoin investment products saw $56.5 million in net outflows, the second consecutive week of negative flows.

Uncertainty over U.S. monetary policy continued to weigh on broader sentiment, and investors continued to cut exposure. The outflows are a result of reduced risk appetite, especially by institutions waiting for policy signals.

Short-Bitcoin investment products also saw redemptions, which indicates that investors did not reposition into bearish positions but rather moved capital out completely.

This means the market is neutral as opposed to moving towards short selling. Bitcoin’s underperformance may also be related to the fact that it has fewer yield-generating capabilities than Ethereum.

A number of altcoins followed the trend of Bitcoin. Outflows of $6.6 million were recorded for XRP, which is its third week in a row of redemptions.

Meanwhile, Solana also suffered $2.1 million in outflows, which continues its relatively weak performance in recent weeks. But Sui saw $1.1 million of inflows, which is indicative of selective optimism for newer Layer 1 projects.

Flows by Asset
Flows by Asset | Source: CoinShares

All in all, the outflows from Bitcoin and major altcoins show that investors are taking a more cautious approach to crypto allocations. In the sector, macro headwinds such as inflation and interest rate uncertainty continue to be the main drivers of capital movement.

It seems that institutions are more prepared to wait for regulatory and economic clarity before allocating large amounts.

Regional Trends Highlight Diverging Investment Behaviour

In the United States, the region that led fund flows, $175 million flowed into digital asset products. This continued strength shows continued confidence in U.S.-regulated crypto products, especially the newly launched Ethereum ETFs. Next up was Germany with $47.8 million in inflows, followed by Switzerland with $15.7 million.

More modest inflows were posted by Canada and Australia, of $9.8 million and $6.5 million, respectively. These numbers show that asset managers in those regions are active but cautious.

Flows by Exchange Countru
Flows by Exchange Countru | Source: CoinShares

But there were some regions that posted notable outflows. Last week, Hong Kong, which had seen record-breaking inflows recently, reported $14.6 million in outflows.

Brazil also had redemptions of $9.2 million. These figures indicate that local economic factors or profit-taking may be behind the movement of assets in these areas.

The regional variation highlights that the sentiment of investors is influenced by national policy, local economic conditions and access to regulated investment products.

The U.S. and Germany are seeing consistent inflows because they have clearer frameworks and product offerings. At the same time, pullbacks are happening in regions that are economically volatile or lack regulatory support.

Last week’s fund flow data was overall one of a growing divide between assets and regions, as regulation, utility and monetary expectations are being factored in. Right now, Ethereum is the one that is benefitting the most from this dynamic, while Bitcoin and other cryptocurrencies adjust to a more cautious investment climate.

Aptos Faces $53M Token Unlock As Key Price Levels Signal High Volatility

Josh Alba
-
0
Aptos Faces $53M Token Unlock As Key Price Levels Signal High Volatility

Key Insights:

  • Aptos will unlock $53.64M in tokens on June 12, the largest among tracked protocols this week.
  • Price hovers near $4.67 with leverage stacked at $4.51 support and $4.83 resistance, increasing liquidation risk.
  • EXPO2025 wallet activity surged 100% in May, driving new user growth and network adoption.

This week, Aptos enters a high volatility phase as $53.64 million worth of tokens are set to unlock on June 12. The percentage of total supply and market cap is 0.98% and 1.78%, respectively.

While ecosystem growth remains strong, current price action shows consolidation below key resistance, with momentum indicators trending lower.

Major Unlock and Market Positioning Create Price Pressure

On June 12, Aptos will release 11.31 million APT tokens, which are worth about $53.64 million. That makes it the biggest scheduled unlock this week among all tracked protocols, even larger than the next six combined.

This event brings in considerable near-term sell pressure, as unlocked tokens could enter circulation very quickly.

Token unlocks for the this week
Token unlocks for the this week | Source: Cryptorank

At the moment, APT is trading around $4.67, which is a zone with high liquidation risk on both sides. Leveraged long positions could be liquidated under $4.51, and short positions cluster around $4.83, according to CoinGlass data.

APT liquidation map
APT liquidation map | Source: CoinGlass

This has made the range between these thresholds a very tight zone, in which any decisive price movement can cause a sharp liquidation-driven move.

Additionally, APT is trading in a descending pattern on technical charts and recent attempts to break resistance levels have failed.

APT price forecast
APT price forecast | Source: TradingView

With a triple top formation on lower timeframes, it is a sign of growing selling interest. RSI going below 50 and MACD forming a bearish crossover are indicators for a short term negative outlook.

Wallet Adoption Grows Ecosystem Strength

The upcoming unlock notwithstanding, onchain fundamentals for Aptos keep improving. In May, transaction volume on the EXPO2025 Digital Wallet, built on Aptos blockchain, almost doubled.

In the month, more than 1.28 million transactions were processed and over 271,000 new accounts were added.

aptos price
Source: X

The news comes after the launch of the Aptos EXPO Memorial Stamp Rally, a campaign that gamifies user engagement in the lead up to the 2025 Expo in Osaka.

The initiative is a simple interface to award tokens to participants, combining Web2 usability with Web3 incentives. This campaign puts Aptos in the forefront of user-friendly blockchain applications.

The stablecoin market cap on Aptos has further strengthened the network by reaching an all-time high of $1.32 billion.

This means liquidity within the ecosystem is growing, and that might help take up some of the supply pressure from the unlock.

But these strong fundamentals have yet to be reflected in the price, which is still technically weak.

Bearish Sentiment and High Volatility Potential Price Structure

Moreover, technical analyst CryptoOlympics also points to a bearish price action of APT. The $4.51 support zone has held several times, but it’s very fragile, and the selling pressure is growing.

Analysts say if this level fails, long liquidations and stop-loss triggers will push the price towards $4.30 or lower.

APT Price chart
Source: X

A short squeeze could be on the upside if a breakout above $4.83 happens. Such a move would reverse short-term sentiment but would need strong volume and momentum.

Volume is rising during sell-offs at present, and on balance, volume is trending down, which is a sign of bearish dominance.

Sentiment is cautious in the market. Futures traders are slightly bearish as funding rates are slightly negative. Open interest data from Binance, OKX, and Bybit shows a lot of open interest at current price levels, which makes it more likely that prices will swing sharply if either threshold is broken.

Aptos is set for a pivotal trading period as $53 million in tokens enter circulation and leverage is stacked around key zones.

Although its ecosystem growth is positive, technical conditions indicate that traders should prepare for volatility. As the unlock approaches, all eyes remain on the $4.51 and $4.83 levels.

Hbar News Gains Traction Ahead of SEC Decision on Spot HBAR ETF

Maxwell Mutuma
-
0
Hbar News Gains Traction Ahead of SEC Decision on Spot HBAR ETF

Key Insights:

  • The latest Hbar news reveals that the U.S. SEC is set to disclose its decision on the spot HBAR ETF filings.
  • Despite the listing of HBAR ETPs in the European market, the HBAR price still appears bearish and could drop by 25%.

Hbar news is gaining traction amid growing anticipation around the U.S. Securities and Exchange Commission’s (SEC) upcoming decision on a spot HBAR ETF listing. So far, only two spot HBAR ETF applications have been submitted in the United States—one by Canary Capital and another by Grayscale.

Hbar News: SEC’s Decision on Spot HBAR ETF Filings

According to recent reports, the SEC’s decision on both filings is expected on June 11, 2025.

Meanwhile, 21Shares is making waves after launching a new HBAR ETP on Euronext Amsterdam and Euronext Paris. With this move, 21Shares joins Valour in offering HBAR-based ETPs in Europe.

Following this listing, traditional traders and investors can now access Hedera’s native token without needing to interact directly with crypto-native infrastructure.

Both HBAR news has been garnering massive attention from the crypto community, as they highlight the growing interest of traditional investors in Hedera’s native token.

Despite these positive developments, the HBAR price remains unchanged, currently trading near $0.168, with a modest 0.67% increase over the past 24 hours. During the same period, strong interest from investors and long-term holders has led to a 25% surge in trading volume.

This rising trading volume, when combined with the price surge, indicates strong upside momentum in the asset.

Hedera (HBAR) Price Action and Technical Analysis

According to expert technical analysis, HBAR appears bearish, and given the current market structure, it is poised to continue its prolonged downtrend in the coming days.

The daily chart reveals that the asset has been in a downtrend following the breakdown of an ascending channel pattern. With the continuous price decline, it lost the horizontal support level at $0.174, but has since successfully retested that level.

HBARUSDT Daily Chart
HBARUSDT Daily Chart | Source: TradingView

Based on recent price action and historical patterns, the HBAR price could decline by 25% and reach the $0.128 level in the near future. However, this is only likely if the asset remains below the $0.175 level; otherwise, the trend may shift.

On the other hand, the HBAR price could soar by 25% and reach the $0.22 level in the future. This bullish outlook would only emerge if the asset breaches the resistance level and closes a daily candle above $0.176.

As of now, HBAR’s Relative Strength Index (RSI) stands at 41, indicating that the asset is near the oversold area and showing weak strength. This suggests limited bullish momentum and a higher probability of continued downward pressure unless strong buying interest emerges.

On-Chain Metrics Flashes a Bearish Sentiment

This bearish price action is further strengthened by the recent activity of traders and investors, who have been found betting on the bearish side, according to the on-chain analytics firm Coinglass.

Data reveals that traders are currently over-leveraged at $0.1659 on the lower side (support) and $0.174 on the upper side (resistance).

HBAR Exchange Liquidation Map
HBAR Exchange Liquidation Map | Source: CoinGlass

At these levels, they have built $2.12 million worth of long positions and $3.98 million worth of short positions, indicating that sellers are currently dominating.

Meanwhile, investors and long-term holders have been found dumping HBAR tokens. Data from spot inflow/outflow shows that exchanges have witnessed an inflow of $550k worth of HBAR tokens over the past 24 hours.

HBAR Spot Inflow/Outflow
HBAR Spot Inflow/Outflow | Source: CoinGlass

This substantial inflow into exchanges hints at a potential sell-off by investors and is further a bearish signal.

Polkadot Crypto Unveils Its SDK, Fueling Dev Growth & Potential For $DOT Price Surge

Brenda Mary
-
0
Polkadot Crypto Unveils Its SDK, Fueling Dev Growth & Potential For $DOT Price Surge
  • Polkadot Crypto has unveiled its SDK, which offers developers the flexibility to create customizable blockchain solutions.
  • Cross-ecosystem compatibility could drive increased adoption and demand for $DOT.
  • The SDK’s enterprise readiness may strengthen Polkadot’s ecosystem and price growth.

Polkadot crypto introduced a significant update to its ecosystem that may influence both developers and the rest of the industry.

Developers can now download the new Polkadot SDK and use it to design blockchains, adjust their rules, and create special ecosystems.

Snap | Source: X
Snap | Source: X

Polkadot SDK is a free, flexible framework that enables developers to create blockchain networks. This SDK has better and more advanced features than the earlier Substrate framework, which was founded by the same team as Polkadot and Kusama. It has been created to be the top pick for blockchain development.

With this SDK, developers will be able to customize their blockchain ecosystem to control things such as consensus, governance, token setup, fee structure, and connections to bridges.

In the past, this level of adjustment could not be done within Polkadot’s ecosystem. Currently, developers have an easier time customizing blockchains for their projects using the SDK.

Key Features of the Polkadot Crypto SDK

Polkadot SDK comes with many helpful settings that make it a favorite for blockchain programmers. First, developers can customize their blockchain’s elements, such as consensus, governance, token rules, and fees.

This quality separates Polkadot from other platforms because it helps build individual networks for particular purposes.

Besides being flexible, the SDK allows different ecosystems to work together in Polkadot. Builders are now able to use blockchains apart from Polkadot.

They can now grow their chains so that they interconnect with different ecosystems, helping to reach the goal of blockchain interoperability. It allows more opportunities for teamwork and ideas to be shared all over the blockchain industry.

Big enterprises are already taking advantage of Polkadot’s SDK, which supports KILT, Zeitgeist, Frequency, and Pendulum projects.

This indicates that the SDK can work with large-scale apps and is designed for good scalability, which fits any business.

Its modular architecture is also noteworthy, so that developers can pick out the necessary features for the type of application they want to build.

Rollups, parachains, and appchains make it possible for the SDK to help develop new blockchain networks much faster.

Lastly, the Polkadot SDK has been constructed for the highest level of speed. As it is decentralized and requires less storage, web3 applications scale up and cost much less to manage. Thus, it is very efficient for building functional blockchains that work fast and cost less.

Polkadot Crypto Current Market Outlook

Polkadot crypto was trading at $3.98 as of press time, down 1.04% compared to its previous 24-hour price. In the past few days, Polkadot’s value has remained around $3.90 and $4.10, proving that $3.80 acts as a support level. It seems clear from its price that the token is managing well despite the recent ups and downs in the market.

We notice that the liquidation events for $DOT change a lot when the market is correcting, with an apparent rise in the amount of liquidated positions.

January 6th and May 31st saw a surge in liquidations that happened alongside fluctuations in the price of Bitcoin from $5.00 to $6.00.

This shows that the increased activity in the Polkadot market frequently coincides with times of turbulent prices.

Polkadot’s new SDK could attract more users and interest in the $ DOT token. Even so, the market needs time to analyze the changes and observe how developers and business groups apply the SDK to their work. Increased SDK usage over time could help the $DOT price grow more positively.

Polkadot Crypto Charts Showing a Bullish Outlook

Besides the price movements shown in the charts, a Head and Shoulders formation can be noticed in the third one.

The chart pattern usually points to a switch in current market trends, and suggests that Polkadot is likely to rise soon.

The left shoulder has a downward trend, the head has a top that is higher than the others, and the right shoulder is identical.

Typically, the price target is estimated by measuring the distance from the head to the neckline and then project it upwards from the place where the stock breaks out.

Presently, Polkadot’s price stays near $3.98, which could indicate the formation of the right shoulder.

Once the price goes past the neckline, this trend may point to $4.20 to $4.50, meaning a possible bullish direction in the market.

The burst of activity around a specific price mark could kick off an upward price trend to the new highs.

Polkadot Crypto
1-day DOT/USD Chart | Source: TradingView

The introduction of the Polkadot SDK marks a significant improvement for the blockchain industry. It gives developers everything they require to establish personalized, expandable, and compatible blockchain networks.

Since Polkadot keeps updating its tools, such as the SDK, it is likely to contribute significantly to the blockchain industry in the next few months, and the value of $DOT could change.

Solana Dips After Pattern Rejection, But Strong Fundamentals Signal A Bullish Reversal

Jackson Kelley
-
0
Solana Dips After Pattern Rejection, But Strong Fundamentals Signal A Bullish Reversal

Key Insights:

  • Solana dipped over 18% after rejecting from key resistance near $180, forming a cup-and-handle failure pattern.
  • Whale sold over 44K SOL post-staking rewards as Coin Days Destroyed spiked to its third-highest YTD level.
  • Daily active users and network speed remain elevated, supporting the bullish outlook despite short-term correction.

After being rejected from a key resistance level near $180, Solana has dropped 18.6% to around $140.

Despite the pullback, key on-chain data such as whale movements and Coin Days Destroyed are showing healthy market activity.

Combined with strong fundamentals and high user engagement, these indicators suggest a possible bullish reversal if key support levels hold.

Solana Rejected at Key Resistance, Triggers Short-Term Decline

According to Lookonchain, whale ZkSjmB recently unstaked and sold 44,539 SOL worth $6.8 million on Binance. The wallet had acquired the position a month earlier, buying 44,116 SOL for $6.15 million at an average price of $139.4 per token.

As a result, the asset dropped 7.40% intraday, falling below the $140 level. The move reflects opportunistic profit-taking and short-term caution, despite Solana’s strong long-term fundamentals.

The price rejection of Solana recently happened at a major resistance zone around $180, which completed a cup and handle pattern before reversal.

Solana price forecast
Solana price forecast | Source: TradingView

However, from a technical structure perspective, the bias is short-term bearish, and $134–$145 is a key support range. The price is consolidating in this critical zone, which was a springboard for the previous rally.

RSI and MACD are heading into oversold territory, which could result in a technical rebound in the short term. If the retest and bounce from current levels are successful, the next upside target is projected to be near $170.

However, sentiment has not turned negative. As long as support holds, a reversal remains possible. This correction comes on the back of a sustained uptrend, and similar patterns in past cycles have often continued upward. As a result, this looks like a healthy retracement and not a broader downtrend.

Whale Selling and Dormant Coin Movements Raise Eyebrows

Blockchain data confirms that whale activity increased recently. One major holder unstaked and sold over 44,500 SOL worth $6.8 million.

This wallet had staked SOL a month ago, accumulating 422 SOL in rewards before exiting the position with an estimated $649,000 profit.

Although this selling pressure contributed to the price pullback, it did not spark broader market panic.

Coin Days Destroyed (CDD) for SOL also spiked to 3.55 billion, which is the third-highest spike of the year. Such a rise in CDD suggests movement from long-dormant wallets, which is usually a sign of a change in conviction or profit-taking.

Solana coin days destroyed (CDD)
Solana coin days destroyed (CDD) | Source: Glassnode

This metric has spiked in the past, and those spikes have correlated with trend shifts, so it’s a key signal to watch in the coming days. Most importantly, the on-chain movement does not point to mass exits or changes in holder behaviour.

In fact, the data indicates that the tokens are being redistributed rather than major liquidation events during a price pause.

Network Activity and Developer Metrics Reinforce Strength

The recent correction hasn’t changed Solana’s fundamentals. It still averages 1,000 transactions per second (TPS). This throughput beats many competitors and is able to keep up with growing demand from DeFi, NFT, and gaming applications on the network.

Developer activity vs. code commits
Developer activity vs. code commits | Source: Onchain

Solana has an advantage in a high-speed environment during periods of peak on-chain activity. The number of daily active users has been steadily growing and now stands at 4.4 million, which indicates a more engaged user base that is interacting with decentralized applications on a daily basis.

Solana active users daily
Solana active users daily | Source: Token terminal

With increased participation comes an increase in the network’s Total Value Locked (TVL), which has risen to $8.37 billion from $6.09 billion in mid-April. With this 37% increase, capital inflows are renewed, and ecosystem activity is expanding.

Also, over 500 monthly active contributors make Solana one of the top chains in developer activity. It ranks second only to Ethereum in code commits and development engagement, which is a strong signal of long-term confidence in the network’s scalability and utility.

At the same time, the 0.87 long/short ratio suggests short-term trader caution, but such positioning is often followed by price rebounds when fundamentals remain sound.

Crypto Liquidation Nears $1B as Bitcoin Braces for Jobs Data

Josh Alba
-
0
Crypto Liquidation Nears $1B as Bitcoin Braces for Jobs Data

Key Insights:

  • Over $983M in crypto liquidations, with BTC and ETH long positions hit the hardest.
  • Musk–Trump feud and China FUD trigger sharp sell-off in Bitcoin markets.
  • U.S. Nonfarm Payrolls and ETF flows expected to guide Bitcoin’s next move.

Over $983 million in crypto positions were liquidated in just 24 hours as Bitcoin plunged below $101,000. Rising political tensions, ETF outflows, and market anxiety caused the sell-off. Investors are cautious ahead of Friday’s U.S. Nonfarm Payrolls report.

Massive Liquidations Rock the Crypto Market

One of the sharpest unwinds of the crypto market this year saw over $983 million in liquidations of digital assets.

Long liquidations on Bitcoin amounted to $340 million, and Ethereum came in second with $285 million. Data from CoinGlass shows that more than 227,000 traders were liquidated within 24 hours.

Liquidation heatmap
Liquidation heatmap | Source: Coinglass

One of the biggest single-order wipeouts of the session was a $10 million liquidation on BitMEX’s XBTUSD contract. The total long-side damage was further added by high-leverage trader James Wynn, who lost a position worth over $20 million.

Key support of around $101,000 for Bitcoin was not held. This led to cascading liquidations, with the price dropping as low as $100,436.

Shorts also lost money, but just $94.5 million was wiped off bearish bets, showing the imbalance in market positioning.

Political Tensions and ETF Outflows Amplify Pressure

Tensions between Elon Musk and Donald Trump added to the growing bearish sentiment across crypto markets. Musk criticized Trump’s proposed tariffs, warning they could trigger a recession.

On the other hand, Trump countered by threatening to cut Tesla’s subsidies and federal contracts. The clash fueled broader concerns over policy instability and its impact on innovation-driven sectors.

In response to political threats, Musk also briefly announced that SpaceX would decommission its Dragon spacecraft, before walking that back.

That unsettled markets further, especially since Dragon is America’s only astronaut transport vehicle. This was seen as another sign of instability in the U.S. governance, especially for the tech and crypto sectors.

etf flow
Source: X

ETF flows, meanwhile, showed that institutional interest in Bitcoin was waning. On June 5, BTC ETFs saw $278.4 million in net outflows, and ETH ETFs had modest inflows of $11.3 million.

Market stress is leading institutions out of Bitcoin and into Ethereum, which is less volatile. The uncertainty was compounded by renewed fears over China’s stance on Bitcoin on social media.

Speculation about stricter trading or mining ban enforcement was not confirmed, but it triggered memories of previous market crashes. Crypto markets continued to be on edge with no clear positive driver.

All Eyes on Nonfarm Payrolls and BTC Price Structure

The focus now shifts to Friday’s Nonfarm Payrolls (NFP) report that could set the tone for the market going into the weekend. Experts believe the report will display 130,000 new jobs in May, a decline from the 177,000 seen in April.

A weak print may encourage the Fed to lower rates in July and support Bitcoin and other risky assets. As labor market softness is already showing, job openings have fallen to 7.36 million, the lowest since 2021.

The ratio of job openings to unemployed fell to 1.03, indicating a further slowdown. The data could temporarily relieve Bitcoin from selling pressure if the market reacts positively to the data.

Bitcoin Price Prediction | Source: TradingView
Bitcoin Price Prediction | Source: TradingView

Bitcoin technically found support at $100,436 and bounced, trading around $100,700 at press time. Strong resistance lies at $103,500 and $103,900, with momentum indicators like MACD and RSI still in bearish territory.

RSI at 38 shows oversold conditions, but a break above resistance is needed for a trend change. The $100K area is crucial in the run-up to options expiry, as a lot of open interest could guide the price action. The market is uncertain for now until the key economic indicators are released.

Ethereum ETFs See $57.31M Inflow, Marking 13 Days Of Consecutive Gains

Maxwell Mutuma
-
0
Ethereum ETFs See $57.31M Inflow, Marking 13 Days Of Consecutive Gains

Key Insights:

  • Ethereum ETFs recorded 13 straight days of inflows, totaling $57.31M on June 4, with BlackRock leading contributions.
  • Over 340,000 ETH worth $900M entered the staking queue, the highest since 2023, signaling long-term confidence.
  • Ethereum dominates tokenization with $9.8B in RWAs and led all chains in net flows over the last 3 months.

On June 4, Ethereum ETF inflows kept climbing, adding $57.31 million, marking the 13th trading day in a row.

As staking demand increases and capital moves from Bitcoin to Ethereum-based products, investor interest is growing steadily.

ETF Inflows Show Strength as Bitcoin Slows

BlackRock’s $ETHA led the way with $73.51 million, bringing in $57.31 million in net inflows into Ethereum ETFs on June 4. During the same session, Fidelity’s $FETH saw an outflow of $23.62 million, and Grayscale’s mini trust added $7.42 million.

ethereum etf
Source: X

Conversely, Bitcoin ETFs were only brought in by BlackRock’s IBIT, which recorded $86.92 million in inflows amid broader weakness.

ETH’s consistent ETF performance is a sign of institutional behaviour change as investors prefer regulatory clarity and yield.

Though BTC ETF flows have recently broken their accumulation streak, ETH products have kept inflows alive through market pullbacks.

ETH’s fundamentals remain strong, and sentiment is improving; these developments indicate a possible capital rotation.

The network also topped all chains in net inflows over the past 90 days, with over $1.1 billion flowing into the Ethereum network. Other chains had mixed results, with some like OP Mainnet and Berachain seeing outflows of close to $1 billion.

top net flows
Source: Artemis

As such, Ethereum is still the preferred choice for capital allocators, despite short-term volatility and changing narratives.

Staking Demand Surges to One-Year High

This week, more than 340,000 ETH or nearly $900 million, entered the validator queue, its highest level since 2023. Wait times to stake have extended to five days plus, a sign that investor confidence is on the rise after recent SEC clarity.

Ethereum validators
Ethereum validators | Source: X

This comes as APR has risen to 3.04%, which is also an incentive for long-term holders to commit funds to secure the network. With over 34 million ETH staked on more than 1.06 million validators, the network is in great health.

The validator base is stable, exit churn is minimal, and validator exits are processed in minutes. This balance is good for security and liquidity and is a good basis for further institutional entry.

The accumulation trend was also strengthened as ConsenSys-linked wallets also executed a $320 million ETH OTC purchase from Galaxy Digital.

There were multiple high-value transfers in the transaction, which indicated deliberate positioning rather than speculative entry.

Usually, such moves are a reflection of strategic commitments to Ethereum’s long-term development, rather than short-term market timing.

Dominance in Real-World Assets and Capital Flows

As of May 28, Ethereum is by far the leading tokenization sector, with $9.8 billion in tokenized assets on-chain. ZKsync Era has $2.2 billion, while Stellar, Aptos, and others have less than $1 billion.

That makes Ethereum the obvious winner in the real-world asset (RWA) space among all blockchain platforms. But its leadership is also apparent in broader net flows, where Ethereum beat every chain over the past three months.

Changing narratives aside, Ethereum is still attracting retail and institutional liquidity at a structural level. From the price perspective, ETH is consolidating near $2,616, up 0.30% on the day and testing the 200-day moving average.

ethereum price chart
source: X

It is the fifth test of the MA200 in recent months, and a breakout would be imminent if volume backs up momentum. However, RSI is flattening out, which means caution in the short term, even though fundamentals remain bullish.

Sentiment is still divided, but capital keeps flowing into Ethereum-linked products and infrastructure. If the inflows into ETFs continue and staking demand remains, Ethereum could break its current range and be the leader of the next market cycle.

ETH is showing strength through utility, liquidity, and growing institutional alignment while Bitcoin consolidates.

Crypto Kidnapping Ringleader Arrested, Another Suspect At Large

Maxwell Mutuma
-
0
Crypto Kidnapping Ringleader Arrested, Another Suspect At Large

Key Insights:

  • Moroccan authorities have arrested Badiss Mohamed Amide Bajjou, the alleged mastermind behind a series of crypto-related kidnappings in France.
  • The arrests show a disturbing trend of crypto executives and their families being targeted for their wealth.
  • Physical and digital security are becoming increasingly intertwined, as criminals shift from cyberattacks to violent “wrench attacks”.

An interesting development came up sometime during the week. Moroccan authorities have arrested Badiss Mohamed Amide Bajjou, a 24-year-old French Moroccan man.

Bajjou is accused of being the mastermind of the string of crypto-related kidnappings in France. French and Moroccan authorities achieved a breakthrough. Their efforts target organized crime in the crypto sector.

Arrest of a Suspected Ringleader

Bajjou, the suspected leader of the kidnappings, was arrested in Tangier. The General Directorate for National Security carried out the capture in northern Morocco.

At the time of his arrest, authorities found multiple mobile phones, bladed weapons, and a stash of cash in his possession.

Justice minister weighs in
Justice minister weighs in | Source: X

His capture followed an Interpol red notice. It was issued in 2023 and linked him to serious charges, including abduction, false imprisonment, and hostage-taking.

French Justice Minister Gérald Darmanin welcomed the development. He described it as “excellent judicial cooperation” between France and Morocco.

Crypto Executives Under Siege

The arrest also sheds light on a disturbing trend in France. There, crypto executives and their families are being targeted in a series of kidnappings due to their perceived wealth.

The most recent incident happened on 13 May. At that time, a group of attackers attempted to kidnap the pregnant daughter and grandson of Pierre Noizat, the CEO of Paymium.

The attack happened in broad daylight in Paris’ 11th district. Fortunately, Noizat’s daughter and her husband resisted with the help of bystanders. All of them forced the attackers to retreat into a getaway van.

Just ten days earlier, on May 3, Paris police rescued the father of another crypto entrepreneur. He had been held hostage in a €7 million ($7.8 million) ransom scheme.

Back in January, David Balland, co-founder of Ledger, was kidnapped along with his wife. During their ordeal, Balland’s finger was reportedly cut off to force him to give up his private keys.

How the Crypto Space Became a Target

The increase in crypto-related kidnappings has been a source of alarm among law enforcement and industry stakeholders alike.  This is especially true with digital assets becoming more valuable and accessible.

Criminals are now shifting from cyberattacks to more violent methods like wrench attacks. There, victims are forced at knifepoint/gunpoint to transfer crypto.

Crypto security expert Jameson Lopp, co-founder of Casa, pointed out that “These attacks are a brutal reminder of how physical security and digital security are now intertwined.”

The Youth Factor in Organized Crime

According to French police, the kidnappings weren’t isolated events. Authorities have charged 25 individuals, including six minors, in connection with these crimes.

Many of these suspects are reportedly from France, Angola, Senegal, and Russia. Ambroise Vienet-Legue is the defense attorney representing an 18-year-old suspect in one of the cases.

He said that the allure of quick cash drew in many young people. They were then pulled into crimes they didn’t fully understand. He has called on the court to consider the youth and inexperience of some defendants when delivering judgments.

A Second Suspect Still at Large

While Bajjou’s arrest marks a major success, the investigation is far from over. Authorities are still searching for another French-Moroccan man in his forties, who is regarded as a top recruiter in the kidnapping ring.

He allegedly lured young men online with promises of easy money in exchange for kidnapping selected people. He is also wanted for attempted murder and the 2023 kidnapping of a crypto entrepreneur’s mother.

So far, two police warrants have been issued for his arrest, and efforts to track him down are ongoing.

Bitcoin Nears $107.5K Resistance Amid Liquidity Build-Up

Anuj Bhor
-
0
Bitcoin Nears $107.5K Resistance Amid Liquidity Build-Up

Key Insights:

  • Bitcoin is consolidating near the $107,500 resistance, necessary for a breakout to new all-time highs.
  • Massive liquidity has built up around Bitcoin’s current price range ($104,500-$107,500).
  • Analyst Michaël van de Poppe has identified the $107,500 level as important for Bitcoin’s next upward trend.

The crypto market is again breathing as Bitcoin holds just below a critical resistance zone. Traders and analysts closely watch the $107,500 zone, calling it a possible launchpad for a new all-time high.

While momentum indicators show bullish presence, the data has cautionary signs. Macroeconomic conditions aren’t doing much to push the needle in either direction. The $107.5K mark is Bitcoin’s most crucial price.

Liquidity Builds as Traders Expect a Breakout

At press time, Bitcoin was trading in a tight range around $106,000. Interestingly enough, its price movement targets liquidity above and below this level.

On June 4, a brief spike nearly pushed the price towards $107,000 before pulling back and taking out short positions. This was quickly followed by a dip that cleared out long positions near $105,000.

This up-and-down price action between $104,500 and $107,500 has created a zone of strong liquidity that traders must be wary of. According to data from CoinGlass, both ends of this range are becoming liquidity hotspots.

The liquidation heatmap
The liquidation heatmap | Source: Coinglass

Traders are setting large orders just beyond the current price range. This helps them capitalize on volatility or protect key support and resistance levels.

Why the $107.5K Level Is So Important

According to insights from crypto analyst and trader Michaël van de Poppe, the $107,500 mark is a fundamental Bitcoin price level. Van de Poppe stated that breaking above this level is crucial. He believes it could lead to new all-time highs.

Van de poppe weighs in
Van de poppe weighs in | Source: X

He also noted that such a move could push Ethereum to $3,000.

A powerful upward trend could follow if Bitcoin breaks through $107.5K with volume and follow-through. This uptrend could overshadow the previous ATH and push prices to new highs.

Lack of Macro Triggers Keeps Market Directionless

Despite this technical setup, the general market isn’t offering much in terms of a catalyst.  Bitcoin is behaving like other risk assets and is hovering in a range. It also lacks strong momentum and is waiting for something to happen.

According to its latest market bulletin, trading firm QCP Capital reported that Bitcoin is currently trading in a “rangebound” state.

According to QCP, indicators like market skew and open interest show little directional conviction from investors. They also warned that Q3 might be painful for investors: “Tariff-related impacts may begin filtering into macro data,” QCP wrote.

Additionally, looming U.S. fiscal issues like the debates around debt ceilings and spending bills could introduce headline-driven volatility.

Bitcoin’s 50-Day Moving Average Hits Record High

Another major factor to consider is Bitcoin’s 50-day simple moving average (SMA) behavior. For the first time, the indicator has crossed into six figures, and is currently sitting just above $100,000. This has historically been a sign of incoming bullish action. However, there’s a catch.

Bitcoin and its major moving averages
Bitcoin and its major moving averages | Source: TradingView

The spread between the spot price and the 50-day SMA is narrowing. When Bitcoin closely follows this moving average after a rally, momentum weakens.

This often signals an upcoming market correction. This is similar to what was observed late last year when Bitcoin dropped from above $100,000 to as low as $75,000.

Profit-Taking Indicates Bull Fatigue

On-chain data further supports this narrative because more holders are taking profits. Investors are adopting a more cautious approach. They are securing profits instead of risking a continued bull run.

This behavior is not necessarily bearish. Still, it does show that Bitcoin making a new ATH may require a new source of momentum. Something massive has to hit the news, or Bitcoin has to break above a major technical level.

Bitcoin Holds $105K As Crypto Market Faces Uncertain Future

Jackson Kelley
-
0
Bitcoin Holds $105K As Crypto Market Faces Uncertain Future

Key Insights:

  • The total crypto market cap has dropped by $7 billion, which shows a current period of stagnation and indecisiveness.
  • Bitcoin is clinging to support above $105,000, with $106,265 acting as immediate resistance.
  • Analyst Dave the Wave predicts a possible Bitcoin correction to $96,000. This could be a healthy consolidation before a rally to $160,000.

The crypto market is in the middle of another uncertain stretch. The market cap dropped by $7 billion in the past 24 hours. Bitcoin is clinging to support just above $105,000, and this sideways price action is leaving traders cautious.

While some analysts predict incoming bullish momentum, others warn that a deeper correction could be inbound.

Crypto Market Cap Sheds $7 Billion

The total crypto market cap now sits at roughly $3.31 trillion, down from $3.38 trillion earlier this week. While this $13 billion dip may not seem much in isolation, it shows how stagnant the market has been over the last few days.

The general crypto market overview
The general crypto market overview | Source: CoinMarketCap

The market is now trapped between $3.21 trillion and $3.31 trillion. This consolidation phase shows no immediate signs of resolution. Also, both bulls and bears are holding back while waiting for a clear signal before getting in on the action.

This indecisiveness often signals the market is gearing up for a big move. It could rise if buyers gain confidence or fall if sellers take control.

Bitcoin Holds Above $105,000, But for How Long?

Bitcoin is priced around $105,023, holding a narrow lead above its recent support. The good news for BTC bulls is that the asset’s bullish momentum hasn’t entirely faded. The cryptocurrency has managed to avoid falling back into a downward spiral, at least for now.

So far, the resistance level to watch out for is the $106,265 zone. A move above this level could unlock a path toward $108,000 there. If Bitcoin holds its momentum, it may lift the broader market from its downturn.

This could reignite investor optimism and drive new interest. A sustained rally might bring fresh energy to the crypto space.

However, on the flip side, if Bitcoin fails to gather momentum, a pullback to $102,734 will become likely. Falling below that level would weaken the current bullish case and could be the start of a more general correction.

A Correction Coming?

Not everyone is convinced that Bitcoin will continue climbing without a hitch. One popular analyst, Dave the Wave, who accurately predicted the 2021 market cycle, is now sounding the alarm on an incoming correction.

Possible price action for Bitcoin
Possible price action for Bitcoin | Source: X

According to Dave, Bitcoin could soon drop to around $96,000, near the 0.382 Fibonacci retracement level.  Dave believes that such a correction wouldn’t necessarily spell doom.

He believes a dip to that level could set the stage for a powerful rally to $160,000 in the long term. He argues this would be a healthy consolidation phase before the next major breakout.

Market Sentiment In Wait-and-See Mode

Across the board, market sentiment seems to be on the cautious side. Many investors are sitting on the sidelines, waiting for clear signals or technical confirmations before entering new positions.

For example, upcoming U.S. employment data, especially the non-farm payroll (NFP) numbers, could inject volatility into the market.

A stronger-than-expected report would likely reinforce the Federal Reserve’s stance of keeping interest rates high. This might damage appetite for risk assets like crypto.

Strong number for non-farm payrolls | Source: X
Strong number for non-farm payrolls | Source: X

On the other hand, weaker job data could strengthen hopes for rate cuts later in the year and provide a fresh boost to crypto prices. The crypto market is in a holding pattern in the short term.

The total market cap remains within a narrow band, and Bitcoin continues to flirt with the $105,000 level. While short-term uncertainty may feel frustrating, it often serves as the groundwork for future gains.

Here Are The Factors Bitcoin Needs To Hit A New ATH This Year

Josh Alba
-
0
Here Are The Factors Bitcoin Needs To Hit A New ATH This Year

Key Insights:

  • Crypto analyst Scott Melker predicts Bitcoin’s bull cycle is far from over.
  • He sees Bitcoin reaching $150,000-$300,000 before the next bear market.
  • Continued strong institutional demand, fueled by spot ETF approvals, is a major driver of Bitcoin’s resilience.

Bitcoin has been at the center of the conversation for weeks now, especially with its price hovering around $104,696 in early June. So far, many investors are wondering if the recent dip is a sign of a pause in momentum, or the beginning of another rally.

However, according to crypto analyst Scott Melker, Bitcoin’s current cycle is far from over. In fact, he believes BTC could reach between $150,000 and $300,000 before the next bear market begins.

Bitcoin Still in a Bull Market Despite Short-Term Pressure

Over the past few weeks, Bitcoin has faced some headwinds. Some of these hurdles include Profit-taking after its late May all-time highs, issues with the U.S. trade tariffs and worries about the global economy.

However, Scott Melker insists that Bitcoin is still in a bullish phase. In a recent interview, Melker pointed out that institutional demand is still very strong.

Bitcoin could soar towards $250,000
Bitcoin could soar towards $250,000 | Source: X

He mentioned that Bitcoin’s resilience, even in the face of rising bond yields and macroeconomic uncertainty shows a major shift in how investors perceive the asset.

Bitcoin, which was once seen as a speculative asset, is now being treated as a long-term hedge and strategic asset.

Spot ETF Approvals and the Institutional Green Light

One of the biggest catalysts behind Bitcoin’s recent rise is the approval of Bitcoin spot exchange-traded funds (or the ETFs).

For years, the crypto community hoped regulators would greenlight these ETFs, which allow traditional investors to gain direct exposure to Bitcoin without holding it themselves.

That dream became a reality when the U.S. Securities and Exchange Commission approved multiple spot Bitcoin ETFs In 2024.

Major institutions like BlackRock and Fidelity immediately launched their products and brought in billions of dollars in inflows. Melker even called BlackRock CEO Larry Fink’s endorsement of Bitcoin a major “turning point.”

Political Support from the Top

Another unexpected driver of Bitcoin’s momentum has been U.S. President Donald Trump’s open embrace of crypto and NFTs. Trump, who was once skeptical of digital assets, recently shifted gears and has been making pro-crypto remarks.

This political backing has been a major source of optimism in the crypto community. Melker believes Trump’s influence helped fast-track regulatory clarity and brought crypto back into public discourse.

Trump could be the key
Trump could be the key | Source: X

Political support at the highest levels also adds legitimacy to the asset class and may encourage even more adoption, especially among traditional investors.

Sovereign Wealth Funds Enter the Market

One of the most overlooked forces behind Bitcoin’s growth is the launch of sovereign wealth fund investments.

These state-owned investment vehicles, which are often used by countries to manage national reserves, are starting to allocate small portions of their portfolios to Bitcoin. According to Melker, even a 1% allocation from these massive funds could have a mega impact on Bitcoin’s price.

Because Bitcoin has a fixed supply of 21 million coins, even a small shift in demand from sovereign entities can cause major price movements. Funds from the Middle East and Asia have reportedly already started experimenting with crypto allocations, even.

Corporate Treasuries Continue to Embrace Bitcoin

While companies like Strategy and Tesla made headlines in the last few years for adding Bitcoin to their balance sheets, the trend is far from over.

More corporations are seeing BTC as a strategic reserve asset. They see it as one that can outperform cash in the long run and act as a hedge against inflation or fiat devaluation.

Melker argues that the continued flow of corporate adoption is a strong signal to the markets.  Bitcoin is no longer just a tool for traders or crypto-native firms. It is now becoming a serious treasury option for major businesses.

So far, Melker’s conservative estimate puts Bitcoin somewhere between $130,000 and $150,000 in 2025. However, under more optimistic conditions like continued ETF inflows, stable markets and more institutional buying, Bitcoin could soar even further to a price range of $230,000 to $300,000.

Are Investors Still Interested In Pi Coin?

Maxwell Mutuma
-
0
Are Investors Still Interested In Pi Coin?

Key Insights:

  • Public interest in Pi Network according to Google Trends, has fallen to its lowest point in 2025 despite the upcoming Pi2Day.
  • Unofficial trading volume for Pi Coin IOU tokens has collapsed by 97% in less than a month, from over $2 billion to $56 million.
  • Despite rumors of a Binance listing/Tesla partnership, there have been no confirmations from either company yet.

With Pi2Day just around the corner on June 28, excitement within the Pi Network community is running high.  Yet outside that bubble, the reality is a lot more troubling.

Interest in the project has sunk to its lowest point in 2025, despite the fanfare around the upcoming celebration. As it stands, without any major updates or major partnerships, Pi Network risks losing both visibility and credibility very soon.

Here’s what’s at stake:

Public Interest in Freefall

According to Google Trends, global search interest in “Pi Network” recently dropped to a score of 5. For context, this is the lowest it has been all year. This score is even below pre-mainnet levels, which means that general public curiosity has all but dried up.

Search volume is an important metric when it comes to measuring relevance in the crypto space.

Dried up search interest
Dried up search interest | Source: Google Trends

When fewer people search for a project, fewer new users are discovering it.

This is a problem for Pi under any circumstance. For a network that heavily relies on grassroots adoption, this downward trend is alarming. This decline isn’t just limited to search metrics.

Trading activity on unofficial markets, where IOU tokens representing Pi Coin are bought and sold has also taken a nosedive.

Daily trading volume has collapsed from over $2 billion in mid-May to just $56 million as of June 4.This stands as a staggering 97% drop in less than a month.

Hope or Hype?

Despite these grim numbers, many in the Pi community are still hopeful that Pi2Day will turn things around.

The annual event, which coincides with Elon Musk’s birthday, has become symbolic for Pi believers. Major community influencers are stoking speculation, often without evidence and one popular rumor making the rounds is that Binance might list Pi Coin on June 28.

Binance listing rumors for Pi
Binance listing rumors for Pi | Source: X

Another major speculation that has been making the rounds is that of a partnership with Tesla, where Pi users could pay for car charging with their tokens.

However, these ideas are still heavily speculative and neither Binance nor Tesla has made any official announcement.

Technical Issues Continue to Hold Pi Network Back

While community members are waiting on an unconfirmed Tesla tie-in and exchange listing, developers are urging investors to return to reality. Dimas Nawawi, a Pi Network developer, recently laid out an interesting technical assessment.

The need for controlled speculation
The need for controlled speculation | Source: X

According to Nawawi, Pi’s infrastructure simply isn’t ready to support many of the promises being made.  Out of more than 200,000 nodes registered for the mainnet, only a few dozen are currently active.

More importantly, the protocol is still running on version 19.6.1, while version 20 is needed to deploy smart contracts.

“Smart contract deployment is impossible without a protocol upgrade,” Nawawi stressed. In short, without the technical foundation in place, major efforts are doomed to fail.

What’s at Stake on June 28?

The upcoming celebration could still help Pi coin rally. If the main Team can deliver tangible updates like a finalized open mainnet timeline, a protocol upgrade, or meaningful partnerships and more, it could boost investor confidence in the project.

However, without that progress, June 28 may become yet another missed opportunity for everyone.

Public interest is waning, market activity has dried up, and technical limitations remain unresolved. If Pi fails to deliver, it could further cement the idea that the Network is more about wishful thinking than actual innovation.

California Advances Crypto Adoption With AB 1180 Approval

Maxwell Mutuma
-
0
California Advances Crypto Adoption With AB 1180 Approval

Key Insights:

  • The California State Assembly unanimously passed AB 1180, moving California closer to accepting crypto for government payments.
  • AB 1180 aims to establish a pilot program, allowing state agencies to test crypto payment systems for various fees.
  • The bill mandates a DFPI report by January 2028 on the pilot’s progress.

California, known for leading the way in innovation, has moved closer to embracing crypto at the government level. On 2 June, the California State Assembly unanimously passed Assembly Bill 1180 (AB 1180).

This has set the stage for state agencies to accept digital assets like Bitcoin for public payments. California’s State Senate is considering a crypto-related bill.

If signed by Governor Gavin Newsom, it could integrate crypto into government operations. This would make California one of the first major U.S. states to do so.

What Is AB 1180?

Assembly member Avelino Valencia introduced Assembly Bill 1180. It is geared toward California’s Department of Financial Protection and Innovation (DFPI).

The bill aims to set up a legal framework allowing state agencies to accept crypto. This would fall under the more general Digital Financial Assets Law (DFAL).

The bill passes in the Assembly | Source: X
The bill passes in the Assembly | Source: X

Rather than rolling it out all at once, the bill proposes a pilot program from July 1, 2026, to January 1, 2031. During this time, state departments will be able to test crypto payment systems for things like fees, fines, or permits.

One of the major aspects of AB 1180 is its focus on transparency and accountability. The DFPI must submit a progress report by January 1, 2028.

It will detail the number of crypto transactions conducted. The report will also address technical challenges, operational issues, and legal ambiguities. This data will be important for deciding whether the program should continue, expand, or be adjusted before its 2031 end.

Incoming Mainstream Use of Crypto

AB 1180 isn’t an isolated move. It’s part of a more general movement across the U.S. to integrate crypto into everyday life. States like Florida, Colorado, and Louisiana have implemented similar programs. This allows limited crypto payment forms for government services.

California, however, is bringing a new weight into the movement. California is a major tech hub and the most populous U.S. state. Its embrace of crypto could boost national popularity and drive broader adoption.

At the time of writing, more than 117 businesses in California now accept Bitcoin, according to BTC Maps.  If state agencies begin accepting crypto, that number could grow on a massive scale.

AB 1180 supporters argue that government adoption would ease public hesitation around crypto and help the digital economy scale better.

The “Bitcoin Rights” Companion Bill

AB 1180 isn’t the only crypto-focused bill making waves in California. Assembly member Valencia is also behind Assembly Bill 1052 (AB 1052), often called the “Bitcoin Rights” bill.

AB 1052 aims to protect Californians’ rights to hold and use digital assets in private transactions. It also prohibits government entities from imposing taxes or restrictions on self-custodied digital currencies.

In short, the bill acknowledges crypto as a legitimate tool for private commerce and personal finance. On May 23, AB 1052 cleared its first committee hearing with an 11-0 vote. It is now advancing further in the legislative process.

If both bills pass, California will have one of the most crypto-friendly legal frameworks in the U.S. This will promote both private and public use of digital assets. The state’s support could accelerate broader adoption of crypto.

Together, these bills would ensure that crypto is protected and usable in private and governmental contexts. A February 2025 Coinbase poll found strong support for pro-crypto candidates in California.

80% of crypto holders would back politicians who advocate for crypto adoption. These factors combined could help California see even more progressive bills.

Whales Add 79K BTC As Bitcoin Consolidates Below $106.8K Amid Heavy ETF Outflows

Jackson Kelley
-
0
Whales Add 79K BTC As Bitcoin Consolidates Below $106.8K Amid Heavy ETF Outflows

Key Insights:

  • Bitcoin whale wallets add over 79K BTC in a single week during price consolidation.
  • ETF investors withdraw $1.21B in 3 days, marking largest outflow in 3 months.
  • BTC hovers at $105.5K with key resistance at $106.8K and critical support near $103.4K.

Bitcoin price is stuck under a key resistance zone at $106.8K with little price action but growing on-chain activity. Despite a flat market, whales added 79,244 BTC over the last seven days, adding to confidence.

Meanwhile, institutional ETF flows saw $1.21B in outflows over three trading sessions. The sharp divergence in behaviour between spot whales and ETF holders has split short-term sentiment.

Whale Wallets Accelerate Accumulation as Supply Tightens

Large wallet holders are accumulating Bitcoin. Santiment data showed that wallets holding 10 to 10,000 BTC added a total of 79,244 BTC over seven days. This now includes 151,820 wallets, which shows a broad and steady accumulation of holdings.

Collective holdings of 10-10k BTC wallets
Collective holdings of 10-10k BTC wallets | Source: Santiment

Moreover, analyst Ali reported that large holders added more than 30,000 BTC in just 96 hours. This kind of behaviour is often associated with high conviction among long-term investors, even if there is muted price action. Whales usually accumulate when they expect higher prices or think that current prices are fair entry points.

btc price chart
Source: X

With this rise in holdings, there is also less supply on exchanges, which could lead to price volatility. The massive buying volume Bitcoin is seeing currently is not resulting in any price movement, and the trading zone around $105,500 is stable, which could mean sell pressure is being suppressed.

Any spike in demand, with supply continuing to tighten, could lead to strong upward momentum in the near term.

ETF Redemptions Raise Short-Term Concerns Despite Spot Demand

Spot whales continue to pile up, but institutional investment vehicles are seeing big outflows. The largest drawdown in three months, Bitcoin ETFs saw $1.21 billion in outflows over three consecutive trading days. It is a change from earlier months, which saw steady inflows.

Bitcoin ETF inflow/outflow
Bitcoin ETF inflow/outflow | Source: Santiment

These outflows may be profit-taking, broader macro risk or short-term fund managers losing conviction.

Whale wallets that hold Bitcoin directly are different than ETF investors who manage positions based on macro cycles and fund mandates. The difference may be why ETF behaviour is so different from whale accumulation trends.

The withdrawal activity also injects short term uncertainty, especially if ETF selling continues in a low volume trading environment.

Some institutional buyers, however such as Fidelity and ARK Invest, bought $275 million worth of Bitcoin, demonstrating a mixed interest among institutional buyers.

Bitcoin Remains in Tight Range Between Supply and Demand Zones

Bitcoin is still consolidating below the $106.8K resistance zone, despite strong underlying wallet activity. Recent rejection from the $106.8K supply level is a clear CHoCH → BOS → Retest structure according to technical charts. At press time BTC is trading at $105,329 with 24 hour volume at $46.1 billion.

btc usdt
Source: X

Bitcoin must break above the $106.8K level, which is a major supply barrier, for a bullish continuation. If price breaks above this resistance, targets could be at the $111K zone. However, if price drops below $103.4K, a deeper pullback to sub $100K becomes more likely.

In recent sessions, support at $104.2K has held firm and is a clear short-term range. Near-term direction will depend on breakout confirmation on either side of the market.

Meanwhile, the put/call open interest ratio in the options market is down, indicating that traders are less convinced.

The confluence of technical, on chain and derivatives data is in agreement that Bitcoin is on the cusp of a major move, either towards a continuation of the momentum or a further downside correction.

1...456...53Page 5 of 53

Analyzing Market leads in delivering incisive stock market and economic insights, aimed at enlightening, guiding, and equipping its audience. We unveil pivotal financial data and trends, previously obscured or overlooked, across diverse media platforms including digital and mobile. Regardless of where life takes you, Analyzing Market ensures you stay informed with actionable intelligence right at your fingertips.

More from AM

Contact

No menu items!

Copyright © 2024 Analyzing Market