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Crypto Cools Off Amid Inflation Uncertainty From FED Minutes

Anuj Bhor
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0
Crypto Cools Off Amid Inflation Uncertainty From FED Minutes

Key Insights :

  • The latest U.S. Federal Reserve meeting minutes show some major concerns among policymakers about persistent inflation.
  • Fears of stagflation complicate the Fed’s path, as officials must balance controlling inflation with avoiding further damage to the labour market.
  • Proposed tariffs by President Trump on Chinese and European imports add to the uncertainty.

The U.S. Federal Reserve’s latest meeting minutes have cast a dark shadow over the worldwide financial markets. Concerns about inflation and economic slowdown are growing.

Traders are reevaluating their risk exposure in response. This trend has led to a significant dip in digital assets like Bitcoin, Ethereum, Solana, and XRP.

Inflation Uncertainty Creates Market Jitters

Minutes from the FOMC’s May 6–7 meeting revealed a long-standing debate among policymakers. The discussions were tense and deeply divided.

Officials are becoming increasingly alarmed by the possibility of high inflation and rising unemployment. For context, this combination could force the Fed into making difficult policy choices.

The crypto market’s reaction
The crypto market’s reaction | Source: CoinMarketCap

The crypto market responded quickly to this event, considering how Bitcoin and Ethereum dropped around 2% on Tuesday. On the other hand, altcoins like Solana and XRP fell by over 4%.

Per Coinglass, Bullish liquidations on 23 May exceeded $500 million. From 24 to 28 May, daily liquidations were over $150 million. This correction highlights growing unease in financial markets. Traders betting on rate cuts and easier monetary policy is especially concerned.

Stagflation Fears Complicate Fed’s Path

What makes the situation more concerning is the possibility of stagflation. Stagflation is an economic scenario where inflation remains high even as growth slows and joblessness increases. The Fed minutes show officials understand the delicate balance they must maintain.

They need to control inflation effectively. At the same time, they must avoid excessive tightening. Over-tightening could further harm the labor market.

The effects of the FOMC minutes
The effects of the FOMC minutes | Source: X

The central bank kept interest rates steady in May and maintained the federal funds rate between 4.25% and 4.5%.

Fed Chair Jerome Powell stated that the bank is not hurrying to change its policy. He emphasized the need to first understand the impact of ongoing trade tensions between the U.S. and other countries.

Trump Tariffs and Trade Tensions Add to the Fire

Fresh trade tensions are the main source of ongoing economic uncertainty. President Donald Trump’s proposed tariffs on Chinese and European imports have contributed to these concerns.

Even though the administration postponed the 145% tariff hike on Chinese goods, the threat is still very much in play. In addition, a 50% duty on imports from the European Union has already been imposed. Fed officials flagged these developments as major risks to financial stability.

Several warned that such policies could undermine worldwide confidence in the U.S. dollar and affect the Treasury bond market. This scenario could have even worse consequences for both trad-fi and crypto markets.

Trump tariffs might not take effect
Trump tariffs might not take effect | Source: X

So far, there have now been reports of a Federal court flagging Trump’s “Liberation day” tariffs as illegal. Because of this, fears of this tariff issue might be put to rest soon.

Crypto Takes a Hit Amid Policy Ambiguity

So far, the total market cap of the crypto sector slipped more than 2% on Thursday and fell to approximately $3.54 trillion.  This metric has slipped further down to $3.43 trillion with Bitcoin. It recently set a record high above $111,000 on 22 May, dipping to just under $108,000.

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

Traders have started trimming positions and adjusting their funding rates in response to the Fed’s tone.  So far, U.S. equities have been feeling the heat as well, with the S&P 500 dipping 0.6%, and the Dow Jones Industrial Average losing 244 points (0.6%).

In this environment, cryptocurrencies are now particularly vulnerable to the market’s ups and downs. Policymakers are considering their next steps amid uncertain economic signals.

Traders in both crypto and traditional markets face ongoing volatility. The coming weeks may bring more unpredictability in financial markets.

Key Technical Trend Signals Potential 180% Rally For Solana

Jackson Kelley
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Key Technical Trend Signals Potential 180% Rally For Solana

Key Insights:

  • Solana’s hold above the 50-week EMA historically comes before major price rallies.
  • Fibonacci trend analysis shows that Solana could target $281-$300, or aggressively $420 in a 180% rally.
  • Rising open interest and negative funding rates in the futures market hint at a possible short squeeze for SOL.

Solana shows signs of a major price rally that could lead to new highs if the ongoing technical trends remain intact. SOL has been consolidating, but key indicators suggest momentum is building.

On-chain data signals that a potential breakout is nearby. Here’s a look at the factors behind this surge and what could derail it.

Holding the 50-Week EMA

Solana recently tested the $180 resistance level but failed to hold steady for a breakout.  However, the bigger story comes from its ability to hold above the 50-week EMA for three consecutive weeks. Holding this level has historically always been a major springboard for major rallies.

Solana and the 50-week EMA
Solana and the 50-week EMA | Source: TradingView

For example, in late 2023, Solana broke past both the 50-week and 100-week EMAs. This move was followed by a staggering 515% price increase by March of the following year.

The current relative strength index (RSI) on the weekly chart sits at 52.60, showing that buying pressure is rising. Therefore, there could be room for upward movement.

If history repeats, SOL may be gearing up for another major climb. Technical analysts believe a maintained close above the 50-week EMA could support a rally toward the $300 mark.

Fibonacci Trend Analysis

Zooming out to the daily chart and the Fibonacci retracement tool, a few interesting price points start to come up. The swing low near $95 to January’s high of $295 suggests a price extension. The target ranges between $281 and $300, marking a 70% potential increase.

The path towards $281
The path towards $281|Source| TradingView

If SOL enters price discovery mode, bulls may eye the 1.618 Fibonacci extension, which sits somewhere around $420. This alone would be a 180% rally from current levels. However, this outlook is only valid if SOL holds the 50-week EMA.

If it fails to maintain that support, the token could revisit its lower support levels between $152 and $157. This scenario would invalidate much of the short-term bullish momentum.

Futures Market Hints at a Possible Short Squeeze

Aside from technical charts, the futures market is also showing signs that a breakout may be incoming.  For example, Coinglass data shows that Solana futures open interest (OI) is close to the $9 billion high from January 2025.

Solana’s rise in open interest|
Solana’s rise in open interest|Source| Coinglass

This rise in OI shows strong speculative activity and often points towards incoming price volatility.  On the other end of the fence, funding rates across multiple exchanges have turned negative. This means traders are betting against SOL, and are taking short positions while expecting of a price drop.

While bearish sentiment might seem like a red flag, it could be a major trend-setter for a classic short squeeze. If SOL breaks above its aforementioned resistance levels, short sellers could be forced to buy back their positions and accelerate the price surge.

Double Top Formation on Shorter Timeframes

While the longer-term charts seem promising enough, short-term technicals show signs of incoming issues within this timeframe.

For example, popular trader Carl Moon recently pointed out a possible double top pattern on the 4-hour chart. If this bearish pattern plays out, SOL could retrace to the $152–$157 range in the short term.

Possible short-term dip on Solana
Possible short-term dip on Solana | Source: X

The $180 level so far, is the biggest inflection point for traders.  A clean breakout and daily close above this resistance would validate the bullish outlook. On the other hand, repeated rejections at this level may lead to a healthy (albeit painful) correction.

Elon Musk Walks Away From D.O.G.E: How Has Dogecoin Reacted?

Josh Alba
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0
Elon Musk Walks Away From D.O.G.E: How Has Dogecoin Reacted?

Key Insights:

  • Elon Musk resigned as head of the Department of Government Efficiency (DOGE).
  • Musk’s mission to cut federal spending proved harder than expected, with reported savings being disputed by independent analysts.
  • DOGE’s efforts led to significant federal workforce reductions that affected nearly 12% of government employees.

Elon Musk has resigned as head of the Department of Government Efficiency (DOGE). His role was to cut federal spending and reduce government jobs. He admitted the task was more difficult than anticipated.

Musk’s departure marks the end of his brief tenure in government. Here are the details of this change and how Dogecoin has reacted so far.

Why Musk Took the Role

Musk was appointed Special Government Employee under President Donald Trump’s administration. Elon Musk led DOGE, intending to cut $2 trillion from the federal budget.

The task force was designed to eliminate wasteful spending. DOGE also aimed to streamline government operations. Its name comes from the well-known memecoin.

Timeout at DOGE|Source| X
Timeout at DOGE|Source| X

Legally, Musk’s appointment was limited to a maximum of 130 days, and that term was set to expire on 30 May. However, it’s clear that the challenges of the job, not just the timeline, were more than enough to cause Musk’s early departure.

In a 29 May post on X (formerly Twitter), Musk thanked Trump “for the opportunity to reduce wasteful spending.” A White House official also confirmed that Musk’s “off-boarding will begin tonight.”

“An Uphill Battle” in Washington

Musk’s departure wasn’t entirely surprising.  Elon Musk conducted interviews with The Washington Post and CBS before stepping down. He admitted that Washington’s bureaucratic gridlock was worse than he had expected.

Elon Musk called his mission “an uphill battle.” He shared frustrations similar to those faced by others trying to reform the federal system. “It’s been much harder than expected to improve things in D.C., to say the least,” he said.

Musk criticized a tax break package passed by House Republicans, claiming it would worsen the national deficit. He also argued that it would negatively impact DOGE’s mission.

Big Claims, Mixed Results

DOGE claims to have saved taxpayers $175 billion during Musk’s tenure. However, independent analysts and media outlets do not accept that figure. Some of these have pointed out major errors and discrepancies in calculating those savings.

Musk set out to cut $2 trillion from the federal budget. That target was later revised to $150 billion; even then, the reported savings still fell short. Nonetheless, DOGE managed to make an impact on the federal workforce.

According to Reuters, nearly 12% of the government workforce, or roughly 260,000 employees out of 2.3 million were affected through layoffs, early retirement packages, or buyouts. Despite these results, critics say the cuts may have gone too far and too fast.

Legal Troubles Loom

Musk’s time in government wasn’t just difficult. It also came under legal fire. A federal judge recently allowed a lawsuit against Musk and DOGE, in which both were accused of unlawfully exercising authority over federal operations.

The lawsuit, filed by 14 U.S. states, claims Musk and DOGE misused their legal standing by accessing sensitive government systems, firing federal workers, and canceling contracts without due process.

These accusations put Musk’s short-lived involvement in public service at risk. They also spark debate about the limitations of private individuals in government roles.

Dogecoin Price Outlook

Interestingly, while the D.O.G.E shares a name with Dogecoin (DOGE), Musk had no direct connection to the cryptocurrency while in office.  Still, DOGE’s price is a hot topic among investors. The memecoin currently trades around $0.22 and flirts with major support levels.

Ongoing Dogecoin price action
Ongoing Dogecoin price action |Source: TradingView

If sellers push the price below the 20-day EMA, the token could slide to $0.21. Investors should remember that a break below could send DOGE down to $0.19.

However, strong buyer support around the $0.21 level could keep it within its current range of $0.21 to $0.26. Investors continue to watch out for what happens next, especially considering Musk’s history with the coin on social media.

Pakistan Sets Up Bitcoin Reserve, Outpacing U.S. Move

Maxwell Mutuma
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Pakistan Sets Up Bitcoin Reserve, Outpacing U.S. Move

Key Insights:

  • Pakistan has just announced plans to establish a national Bitcoin reserve that will “never, ever be sold.”
  • The government will allocate 2,000 megawatts of surplus energy for Bitcoin mining and AI data centers.
  • This initiative is geared as a solution for over 100 million unbanked citizens through blockchain-based solutions.

South Asia has just experienced one of the biggest moves in its crypto history. Pakistan plans to create a national Bitcoin reserve. It will also allocate 2,000 megawatts of energy to crypto mining and AI data centers.

Bilal Bin Saqib, the country’s Minister of State for Blockchain and Crypto, revealed this ambitious strategy. Here’s what this means for the country’s blockchain and digital finance approach.

A Strategic Bitcoin Reserve for the Long Haul

The announcement was made during the Bitcoin 2025 conference in Las Vegas, where Saqib addressed worldwide crypto leaders. Pakistan is prepared to enter the global digital economy.

Saqib says the government will store its Bitcoin in an official wallet. Essentially, the asset will be treated as a long-term national resource rather than a speculative one.

Announcements from Pakistan
Announcements from Pakistan | Source: X

Saqib pointed out that the bitcoins stored in the reserve would “never, ever be sold,” similar to the U.S. government’s developing Bitcoin reserve.

“This wallet, the national bitcoin wallet, is not for speculation or hype,” said Saqib. “We will be holding these bitcoins, and we will never, ever sell them.”

This stands as a significant change from Pakistan’s previous outlook toward cryptocurrencies. By establishing this reserve, the Pakistani government recognizes Bitcoin as a legitimate asset and a resource to solidify its economy.

Powering Growth with 2,000 Megawatts for Mining and AI

Pakistan is dedicating 2,000 megawatts of electricity to power Bitcoin mining operations and AI data centers. This move aligns with its broader plan to build a Bitcoin reserve.

This energy will be sourced from the nation’s surplus, which would otherwise go unused without the mining centers.

2000 MW of electricity to Bitcoin
2000 MW of electricity to Bitcoin|Source| X

Pakistan’s mining and AI project is set to boost a high-tech industry with significant revenue potential. It could also draw substantial foreign investment.

Saqib invited international miners and infrastructure developers to participate in building this new initiative in Pakistan.

This move was intended to boost the economy, modernize Pakistan’s energy, and use the often wasted stranded power resources.

Financial Inclusion for Pakistan

Saqib highlighted the potential of cryptocurrency to transform Pakistan’s economy. With over 100 million unbanked citizens, it could be a key solution to the country’s financial inclusion crisis.

Regular banking systems have often been unable to reach large population segments, especially in rural areas. Because of this, the minister believes blockchain-based solutions could change that.

The government aims to tokenize illiquid assets and establish digital identity systems. It also plans to develop decentralized tools to drive long-term innovation.

A Regulator for Digital Assets

The government’s plans also include a regulatory framework to manage its crypto space. The Pakistan Digital Assets Authority (PDAA), recently approved by the Ministry of Finance, will be the official body overseeing the crypto sector.

Its responsibilities will include licensing and monitoring crypto exchanges, custodians, and tokenization platforms. Finance Minister Muhammad Aurangzeb described the PDAA as an essential part of Pakistan’s position as a hub for digital finance.

The agency is responsible for steering the development of DeFi tools. This includes enabling blockchain-based government debt issuance and other advancements.

Overall, whether these steps will deliver long-term benefits remains to be seen. Still, Pakistan is betting on Bitcoin much like the US is, and it is playing the long game.

Strategy Buys $427M Bitcoin Amid Lawsuit, Stock Dips 12%

Maxwell Mutuma
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Strategy Buys $427M Bitcoin Amid Lawsuit, Stock Dips 12%

Key Insights:

  • Strategy has continued its aggressive Bitcoin accumulation, after purchasing another 4,020 BTC for $427.1 million.
  • Meanwhile, the company is facing a class-action lawsuit about misleading statements with its Bitcoin investment strategy.
  • Executive share sales by Strategy directors and CFO have also been major problems.

Michael Saylor’s Strategy, formerly known as MicroStrategy, is showing no signs of slowing down its aggressive Bitcoin strategy.  Despite being hit with a class-action lawsuit and seeing its stock drop by over 12% in a week, the company has once again added thousands of BTC to its already massive holdings.

As Bitcoin continues attempting to flip $110,000 into support, Strategy’s commitment to accumulating more digital gold shows a great deal of confidence in the cryptocurrency’s future.

Another Major Bitcoin Purchase

On 26 May, Strategy announced that it was purchasing another 4,020 BTC. For this purchase, it spent approximately $427.1 million at an average price of $106,237 per coin.

This latest buy brings the company’s total Bitcoin holdings to a staggering 580,250 BTC, all of which were acquired for roughly $40.6 billion at an average price of $69,979 each.

New Bitcoin buy from Strategy
New Bitcoin buy from Strategy|Source|X

Bitcoin is now trading at around $110,000, and the current market value of Strategy’s BTC stash is now worth over $63.7 billion. Because of this, the company already has a year-to-date return of nearly 17%.

May alone has seen Strategy’s buy Bitcoin four times, in continuation of its trend of accumulating BTC regardless of market conditions.

Lawsuit Looms Over Strategy

While Strategy continues to add to its crypto war chest, not everything is smooth sailing.

Just a week before the latest buy, the company was hit with a class-action lawsuit. The complaint revolved around accusations that Strategy’s executives made false and misleading statements about the profitability of their Bitcoin investment strategy.

This lawsuit was filed on 19 May, and claims that shareholders suffered financial harm due to these misrepresentations.

The filing appears to have rattled investors, and led to a stock drop on $MSTR from around $420 to $369 per share. In essence, the stock dropped by nearly 12% in only a few days.

Executive Share Sales Raise Eyebrows

Adding fuel to the fire, Strategy’s leadership has been offloading shares amidst the legal troubles and price volatility.

According to regulatory filings, Strategy director Jarrod Patten sold 2,650 shares between May 16 and 21. This netted him nearly $1.1 million and since April 22, Patten has offloaded a total of 17,050 Class A shares, worth approximately $6.7 million.

In addition to this, Strategy’s Chief Financial Officer Andrew Kang sold 2,185 shares on May 23, and cashed out nearly $720,000.  While these insider sales may be routine for executives managing their personal finances, the timing, especially being so close to both the lawsuit and another major BTC purchase has caused much investor unease.

Stock Slides, But Long-Term Gains Remain Impressive

Despite the recent dip in stock price, Strategy’s long-term performance tells a different story.

Since pivoting to a Bitcoin-focused business model in 2020, the company’s stock has soared from under $15 to nearly $370 and has gained more than 2,400%.

While the latest lawsuit and executive stock sales may have shaken short-term confidence, Strategy is still one of the best-performing public companies over the past five years.

Several smaller public companies are now copying Strategy’s playbook in a bid to enhance shareholder value.

Overall, according to CoinGecko, Bitcoin was trading around $109,826 at the time of the purchase announcement. This upswing in price could be a signal that more upside could be on its way. If history is any guide, Strategy’s bet on BTC may continue to reward those willing to endure the volatility.

The company has already turned billions in unrealized profits, and with the crypto market gaining traction on Wall Street, it seems Strategy is in no rush to change course.

99% of Bitcoin UTXOs in Profit—Is Market Euphoria Nearing?

Anuj Bhor
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99% of Bitcoin UTXOs in Profit—Is Market Euphoria Nearing?

Key Insights:

  • Over 99% of BTC UTXOs are in profit—levels seen before past cycle tops.
  • Whales are slowing accumulation while smaller wallets keep buying amid rising prices.
  • $2.3B in long leverage could unwind if Bitcoin dips below $107,410.

Bitcoin’s recent rally to over $109,000 has pushed the majority of its unspent transaction outputs (UTXOs) into profit, as on-chain data shows. Historically, this metric has coincided with peak market sentiment and been followed by corrections in past cycles. This current setup is similar to what was seen in 2013, 2017 and 2021.

With price still high, whale accumulation is decreasing. However, retail holders are still buying actively, which is in contrast to what is happening. Unrealized profit charts and exchange flows support the idea that the market is in an euphoric phase, but leveraged positions could amplify downside risk.

UTXOs in Profit Near Cycle-Top Levels

According to CryptoQuant, 99% of the unspent transaction outputs (UTXOs) are in profit. Only near cycle tops has this level been reached, including December 2013, December 2017 and April 2021.

This condition usually indicates widespread unrealized gains throughout the network when it occurs.

BTC Euphoria Phase at 99% UTXOs in Profit
BTC Euphoria Phase at 99% UTXOs in Profit | Source | CryptoQuant

This percentage shows how many Bitcoin holders hold coins purchased below the current market price. The market is saturated, with 99% now in profit.

According to analyst Darkfost, historically, when profits are this high, price corrections have followed. When this metric drops, it usually causes more selling as holders take their gains.

Furthermore, CounterFlow’s Net Unrealized Profit/Loss (NUPL) chart has gone into the red zone, which historically corresponds with peak euphoria.

NUPL  vs. Bitcoin price
NUPL  vs. Bitcoin price | Source | X

Similar NUPL readings occurred at local tops in 2017 and 2021. Once price momentum weakens, unrealized gains can turn into realized losses quite quickly. If BTC can’t stay above $109,000, that shift could begin again.

Whales Slow Accumulation as Retail Buys More

According to Glassnode data, whale activity has dropped sharply over recent weeks. Cohort tracking heatmaps show wallets with more than 1,000 BTC have changed their net accumulation rate from red to blue. This reduction started in April and has continued into May.

Trend Accumulation Cohort
Trend Accumulation Cohort | Source | Glassnode

In contrast, retail wallets with less than 10 BTC are still buying. Rising prices tend to attract these smaller wallets, which tend to enter on strong uptrends.

Bitcoin has climbed from $65,000 in November 2024 to above $109,000 from November 2024 to May 2025. Smaller holders became more active, and larger wallets slowed down during this move.

In the past, this divergence has been a sign of growing risk. Exposure increases near tops in retail buying and decreases in experienced holders. Newer holders may be more likely to exit quickly if selling begins, which will increase price volatility.

Bitcoin Exchange Netflow (Total) - Coinbase Advanved
Bitcoin Exchange Netflow (Total) – Coinbase Advanved | Source | CryptoQuant

However, CryptoQuant shows that whales have withdrawn 9,000 BTC from Coinbase in a single transaction, the highest outflow in over two weeks.

BTC moving off exchanges is usually a sign that it is going into cold storage, lowering the short-term risk of selling. But this doesn’t mean accumulation is rising, it means whales are holding or making gains.

Major platforms have turned negative on exchange netflows in May. BTC is leaving more than it is entering, reducing the available supply for spot selling. Yet without whale accumulation, price weakening will leave the market without a strong base of support.

Leverage Builds Below $109K With Risk Zones Forming

Meanwhile, according to Coinglass, leveraged long positions are now at risk near the $107,410 level. Long liquidation leverage is cumulative at $2.30 billion. If Bitcoin falls below this key level, it could cause many open long positions to be forced sold.

Bitcoin exchange liquidation map
Bitcoin exchange liquidation map | Source | Coinglass

Liquidation maps also show clusters of leveraged longs just below the current price. The market is sensitive to small downward moves because of these clusters.

A breach will trigger a wave of automated liquidations, which will exacerbate selling pressure and further accelerate downside moves.

For now Bitcoin is still above the danger zone, but with open interest increasing and more traders entering leveraged positions, the risk is still building. Derivatives markets could amplify the reaction if prices fall just a few percent.

Will Price React as EigenLayer Whale Adds Liquidity Out of Range?

Jackson Kelley
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Will Price React as EigenLayer Whale Adds Liquidity Out of Range?

Key Insights:

  • TVL in EigenLayer spikes from under $5M to over $20M in late May 2025.
  • A whale adds out-of-range WETH/EIGEN liquidity, reducing usable pool depth.
  • EIGEN price trades at $1.56 with resistance at $1.80 and signs of trend exhaustion.

Market data and on-chain activity of EigenLayer are showing mixed signals. Recently, EIGEN price has been rising in a clear rising channel, and a whale has just added a large amount of liquidity outside of the current trading range. This reduces effective liquidity and may affect trade execution.

Meanwhile, total value locked (TVL) in EigenLayer has spiked sharply to over $20 million, while the entire DeFi ecosystem TVL is trending lower. Also, funding rates, developer activity and price structure on multiple timeframes are flashing short-term signals worth watching.

Whale Liquidity Sits Out of Range as TVL Surges

Sentora says that a large EigenLayer whale has put WETH/EIGEN liquidity outside the current active price range. Most traders cannot use the liquidity because it is set far from the current market price of around $1.56. This is more like a spot position than it is depth for trading.

EIGEN TVL Out of Range
EIGEN TVL Out of Range | Source | Sentora

The real amount of usable liquidity is much lower than the total liquidity when liquidity sits out of range, Sentora reported. Larger trades can move the price more than expected due to this setup, especially if other participants use visible TVL for expectations about execution.

On the same news, data shows that EigenLayer’s TVL increased rapidly from $5 billion to over $10 billion. The rise is the highest level since the project’s launch and may be related to recent liquidity actions or new user inflows. The precise origin of these inflows is not known.

EIGEN TVL
EIGEN TVL | Source | DefiLlama

However, EigenLayer’s broader DeFi ecosystem TVL keeps going down. According to DeFiLlama data, the longer-term trend is down from over $20 billion in mid-2024 to under $12 billion by May 2025.

The divergent pattern between EigenLayer’s rapid TVL increase and Ethereum’s overall decline complicates the current sentiment.

EIGEN Price Faces Resistance Near $1.80 Zone

Meanwhile, according to technicals, EIGEN is moving inside an ascending channel on the 4-hour chart. The current price is nearing the upper resistance line at $1.80. Looking at the chart setup, price has tested this resistance zone a few times but hasn’t broken above it yet.

EIGEN price forecast 4-hour chart
EIGEN price forecast 4-hour chart | Source | Tradingview

The RSI (Relative Strength Index) is at 59.96, just below the neutral zone but not overbought yet. There is room for further movement, but momentum is not aggressive.

Alligator indicator also shows that the moving averages are still going up, so short-term support is still intact.

On a daily timeframe, price action is forming a possible triple top formation around the $1.60–$1.65 range. The current level is close to previous two highs and recent candles remain within the horizontal channel.

If price cannot break out, it could be rejected. Triple top is often a sign of a stall in trend continuation.

EIGEN price forecast 1-day chart
EIGEN price forecast 1-day chart | Source | Tradingview

The daily chart MACD data is positive, but the histogram is flattening. This is a sign of slowing bullish momentum, and a break below $1.50 could allow for downside. But as long as price maintains the support of $1.44–$1.46, the broader structure is still in place.

Funding Rates, Developer Activity, and Commit Trends

On the other hand, funding rate data from Coinglass shows traders’ sentiment is mixed. As EIGEN’s price declined, funding rates for most of March stayed negative, meaning traders were paying to hold short positions. This was a reflection of bearish sentiment and low demand for longs during that period.

In April, when prices started to recover, funding rates started to become positive, indicating a repositioning of the market towards longs.

EIGEN Funding Rate
EIGEN Funding Rate | Source | Coinglass

There were brief reversals in early May, when funding rates turned negative again for a short period, indicating a temporary rise in short interest. These instances were, however, short-lived. Funding rates stabilised in positive territory by mid-May as EIGEN’s price moved above \$1.50.

Additionally, consistent activity on EigenLayer is shown by developer data from Token Terminal. Since early March 2025, the project has kept about 30 weekly core active developers.

There are also over 150 code updates in the last week. Also during the same period, the price of EIGEN increased from under $1.00 to $1.40 and beyond, reflecting a correlation between development engagement and market interest.

Eigenlayer weekly core active developers & Core Commits
Eigenlayer weekly core active developers & Core Commits | Source | Artemis

But earlier in March and April, developer activity had fallen in line with weaker price levels. In May, commits and contributions started to pick up, and so did price.

XRP Could Be At Risk Of A 25% Downturn, And Here’s Why

Josh Alba
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0
XRP Could Be At Risk Of A 25% Downturn, And Here’s Why

Key Insights:

  • Over 70% of XRP’s realized market cap has been accumulated near recent highs.
  • Some analysts believe a breakout above $2.40 could lead to a 74% price increase towards $4.
  • The immediate future of XRP could either be a 25% decline or a 74% rally.

XRP has enjoyed a mega rally since late last year, after surging more than 385% and catching the attention of traders and analysts across the board.

However, recent developments in both on-chain activity and technical chart patterns show that this rally could be set to cool down even further. At least in the short term.

While some experts predict a bullish breakout soon, others are warning of an incoming 25% decline. Here’s a breakdown of the current state of XRP using market data, technical indicators, and expert insights.

Realized Cap Data Shows Market Top May be in

According to data from Glassnode, more than 70% of XRP’s realized market capitalization has been accumulated near the recent highs.

For context, the realized market cap refers to the total value of XRP, based on the price at which each token last moved. This pattern is not new.

Similar trends have been observed just before major market corrections in 2017 and 2021, and if history is any indication, investors must keep their eyes open.

Data from glassnode
Data from glassnode | Source: X

In those previous cycles, large amounts of capital entered the market from short-term holders.

These short-term holders were generally newer investors who were more sensitive to price swings. Considering how these investors often react emotionally during corrections, they triggered stronger selloffs, and in late 2017, XRP dropped nearly 95% after peaking.

The same happened in 2021, when it fell almost 80% following a similar rise in short-term realized cap. This kind of top-heavy market pattern, where most of the capital has recently entered at higher prices, tends to be a problem for asset prices.

It leaves XRP open to sudden price declines if confidence slips further.

Chart Patterns Point to 25% Correction

On the technical side, XRP is currently trading in what appears to be a pennant formation. XRP was rejected from the upper resistance of the formation twice between 12 and 14 May, and now appears to have found support against its 200-day EMA around $2.35. This moving average is a highly important one, and must remain intact for XRP to continue further upwards.

Current performance of XRP
Current performance of XRP | Source: TradingView

If a break below occurs, the cryptocurrency could be headed towards its 50-week EMA, which sits near $1.76.

This is about 25% away from its current price level, and coincides with the lower boundary of the pennant. This prediction also supports the idea that the current phase may be a correction, rather than the start of a new bullish leg.

What Comes Next?

While the data so far leans bearish, not everyone agrees that the party is over. According to insights from Market analyst Poseidon, XRP is currently in a long-term consolidation phase that may soon resolve to the upside.

The analyst believes that XRP began consolidating in December of last year, after a jump from $0.50 to $2.90 when President Donald Trump won the elections and subsequently took office.

Since then, XRP has fluctuated between $2 and $3. It has also occasionally broken out, but has returned into it due to sharp sell or buy pressure.

XRP could be ready for $4
XRP could be ready for $4 | Source: X

Poseidon believes that a descending trendline has capped XRP’s movements since May 12, when the asset hit $2.60.

Because of this, a break above $2.40 would confirm a breakout from this trendline and set the stage for a move to $4.

That would represent a 74% increase from current prices and mark a new all-time high for XRP. Because of this, XRP could be in for one of two scenarios.

It could either break above $2.4 and notch a 74% price increase towards $4, or break below its 200-day EMA around $2.35 and sink by 25%.

This Is Why Solana Could Be Headed Towards $300

Maxwell Mutuma
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0
This Is Why Solana Could Be Headed Towards $300

Key Insights:

  • Solana’s Total Value Locked (TVL) has surged by 54% in six weeks to $9.44 billion.
  • Solana’s memecoin sector has increased by nearly 70% in less than two months.
  • Technically, Solana is showing bullish chart patterns and a break above the $180-$200 resistance zone could lead to a new high of $295.

Solana has been drawing more and more attention from analysts so far, after launching a powerful rally from April 7 to May 26. The cryptocurrency has risen from a low of $95 to highs near $180, and is now sitting on one of the most important resistances on its charts.

While the cryptocurrency is currently attempting to break through $180, a combination of bullish technical patterns and on-chain activity could be major pointers towards a rally to the $300 mark and possibly even higher.

TVL Climbs 54% in Just Six Weeks

One of the clearest signs of Solana’s recent strength is its Total Value Locked (TVL).

According to data from DefiLlama, Solana’s TVL has jumped by 54% since 7 April.

Moreover, this metric hit $9.44 billion on May 26, up from $6.12 billion. This shows that the trend is no ordinary rebound. Instead, it is a show of confidence in Solana’s future.

Data from Defillama
Data from Defillama | Source: DefiLlama

DefiLlama also shows that some of the biggest Dapps driving this trend include Raydium, which saw a 52% spike in TVL alongside others like Jupiter DEX, Jito and Kamino Lending which grew by 12%, 25% and 11% respectively. This puts Solana second only to Ethereum in terms of TVL among layer-1 blockchains.

Impressively, it has even beaten Ethereum’s layer-2 networks, like Arbitrum, Optimism, and Base. It also ranks ahead of BNB Chain, which benefits from deep integration with Binance itself.

Memecoins Fuel the Hype

Solana’s recent strength isn’t limited to DeFi. Its memecoin sector has exploded too, and has pushed the collective market cap of Solana-based memecoins from $8 billion on April 8 to nearly $14 billion by May 26.  This stands at a near-70% increase in less than two months.

Trading volume on Solana’s decentralized exchanges has also surged, and has been driven largely by memecoin activity.  As traders flock to Solana-based tokens like WIF, BOME, and SLERF, the underlying demand for SOL has strengthened, since users must hold and spend SOL to participate.

While many of these tokens have seen pullbacks on weekly or monthly charts, they are still strongly above their earlier lows, in a show of even more market confidence.

Bullish Chart Patterns

So what about the charts? From a technical perspective, SOL is flashing several bullish signals that could support this rally. So far, according to the charts, Solana’s price has climbed from a $95 bottom and is now pressing against a resistance zone between $180 and $200.  This said, if a break above this zone occurs, the next level is around $252, which clearly opens the door to further upside.

A move beyond that could bring SOL to its all-time high of around $295, which stands as a 66% increase from current levels. More on the bullish case, the RSI has also climbed from less than 40/100 in March to 53 in late May.

Price levels to watch on Solana
Price levels to watch on Solana|Source| TradingView

More on this, the daily chart is forming a classic bull flag, within which a breakout above the $180 resistance could push SOL first toward $200, then possibly to $220 and $260, if momentum continues.

Still, analysts continue to watch trading volumes on Solana, considering how this metric has declined during the current consolidation phase. Investors must note that without a strong uptick in volume, any breakout attempt might fall flat.

Will $260 or $450 Be Next?

Several respected analysts believe SOL is on the verge of a major upswing. However, most agree that this will only happen if it can convincingly break above the $180 resistance zone.

Robert Mercer pointed out a “price fractal” that is very similar to Solana’s October 2024 breakout. If history repeats itself, a breakout now could send SOL soaring toward $260.

Outlook for Solana
Outlook for Solana| Source|X

Javon Marks thinks the same, and pointed towards another pattern from last year. According to the analyst, if this pattern plays out again, Solana could rally to as high as $450.

Finally, Some Arrests: France Arrests A Dozen Suspects Over Crypto Kidnappings

Anuj Bhor
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0
Finally, Some Arrests: France Arrests A Dozen Suspects Over Crypto Kidnappings

Key Insights:

  • French authorities have arrested over a dozen suspects, including minors, in connection with a string of crypto-related kidnappings.
  • High-profile crypto figures and their families have been targeted in these ransom attempts.
  • The kidnappings show a pattern of organized crime, with suspects reportedly recruited through social media platforms.

The string of crypto-related kidnappings in France heated up in May, with multiple instances of these crimes coming up on several occasions during the month.

However, recently, French authorities have arrested over 12 individuals (including several minors) in connection to this kidnapping ring. These arrests mostly came from two of the most recent high profile cases, and are good examples of how popular ransom attacks are becoming within the crypto industry.

Crypto Figures and Families in the Crosshairs

According to reports from French news outlet Le Parisien, the suspects face charges ranging from kidnapping and attempted kidnapping to criminal conspiracy.

Authorities believe  that these individuals are part of a bigger criminal network, with attackers allegedly being recruited through social media platforms. The most disturbing of these incidents happened on 13 May, when three men attempted to kidnap the daughter and grandson of Pierre Noizat, co-founder and CEO of the French crypto exchange Paymium.

Street footage of the attempted kidnapping
Street footage of the attempted kidnapping|Source:X

The attempted kidnapping happened in broad daylight on a Paris street, and was only prevented thanks to the victims’ resistance and the intervention of bystanders.

The attack was reportedly caught on video, in what must have fueled public concern even more. Even though no arrests have been made yet in the Noizat case, the scale of the crime and the sheer brazenness of the attempt have drawn in national attention.

A Pattern of Crypto Ransom Crimes

Earlier in May, another crypto-related kidnapping saw the father of a French crypto marketing entrepreneur abducted and held for ransom. Authorities reported that the perpetrators demanded between €5 million and €7 million in exchange for his release.

Thankfully, the victim was rescued and six individuals, including the actual kidnappers are now in police custody. These incidents came after yet another case earlier this year, involving David Balland, co-founder of Ledger.

Balland was kidnapped from his home by attackers who also demanded crypto in exchange for his release. French police successfully rescued him after a few days in captivity.

These cases are not isolated. According to a GitHub page maintained by Jameson Lopp, at least six crypto-related kidnapping or ransom cases have been documented in France this year alone. Half of them happened in Paris.

Recruitment via Social Media

French investigators are now looking into the possibility that a larger, more organized crime group is responsible for these attacks.

The suspects appear to have been recruited online, via social media platforms. Interestingly, some of the arrested individuals were minors, and were likely enlisted to carry out these kidnappings for crypto rewards. This method of recruitment shows a disturbing trend, in which digital crime is now becoming a major part of real-world violence.  Social media’s anonymity and reach make it easier for criminal networks to find willing participants. This explains why younger users were among those arrested.

In response to these crypto-related kidnappings, France’s Interior Minister Bruno Retailleau has announced tighter security measures, specifically to protect crypto entrepreneurs and their families.  While details of these protections are still confidential for obvious reasons, sources believe that it might be a combination of increased surveillance, community alerts, and rapid-response protocols.

The French government’s moves show that it is increasingly recognizing how real world crime is partnering up with crimes in digital finance.  As crypto becomes more mainstream and its stakeholders become more visible, so too does the risk of criminal targeting.

A Wake-Up Call for the Crypto Community

The incidents in France serve as a wake-up call for everyone.  Crypto entrepreneurs are now realizing that their digital wealth may come with very real physical risks.  It’s no longer enough to keep private keys safe and use cold wallets. Physical safety must now be part of the risk management equation as well.

Industry experts are calling for better education including creating safety protocols for executives, educating families on how to respond to threats and collaborating with law enforcement to prevent these attacks. Overall, while French authorities have made progress by arresting more than a dozen suspects, the real threat remains at large.

Institutional Investors Continue To Buy Despite Bitcoin Stalling At $110k, Data Shows

Maxwell Mutuma
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0
Institutional Investors Continue To Buy Despite Bitcoin Stalling At $110k, Data Shows

Key Insights:

  • Bitcoin price is currently stalling near $110,000, under the influence of macroeconomic factors like upcoming U.S. inflation data and Nvidia’s earnings report.
  • Despite the price pause, futures and options market data show strong confidence among elite investors.
  • Institutional investors are aggressively accumulating Bitcoin according to on-chain data.

Bitcoin’s price rally is currently stalling just underneath the $110,000 zone.

This is interesting because the cryptocurrency is holding its ground so well, in the face of economic uncertainty and anticipation around major market data.

However, while some short-term traders are getting flushed out by volatility, institutional investors and long-term holders are quietly scooping up more Bitcoin.

Here’s how this is playing out, and what it means for you.

Bitcoin Pauses as Investors Wait

After reaching a high of $110,000 on 26 May, Bitcoin has dipped slightly to a current price of around $109,700 at the time of writing.  Analysts generally believe that the pause in momentum is likely coming from a few macroeconomic factors including the upcoming U.S. inflation data and the earnings report from tech giant Nvidia.

President Donald Trump’s decision to delay 50% tariffs on European Union imports until 9 July also brought some relief to markets, as shown by how well European stocks have recovered so far.  However, Bitcoin failed to maintain its upward push, and is causing some unease among investors about whether a fresh all-time high is in sight.

Still, while price action is still somewhat sluggish, data hows the market is far from bearish. In fact, institutional behavior and derivatives trends show that something big could be brewing.

Futures and Options Data Show Confidence

Despite the pullback, Bitcoin’s futures and options market data shows that confidence among elite investors is still strong. For example on 26 May, the annualized premium on Bitcoin two-month futures increased from 6.5% to 8%, which is currently in the neutral-to-bullish range of 5% to 10%.

Options data also supports the idea that whales and market makers are expecting upward movement. For example, the 30-day delta skew (the difference in demand between buy options and sell options) sits at -6.5%.

Bitcoin’s 30-day delta skew
Bitcoin’s 30-day delta skew, Source: Laevitas

When the number turns negative like this, it shows that sell options are cheaper, and this is a common signal in bullish markets. In short, the futures and options markets show that traders are not panicking, despite Bitcoin stalling.

Institutional Investors Are Accumulating Aggressively

Even as prices seem to have lost steam, institutional appetite for Bitcoin is showing no signs of weakness.  Between 19 and 25 May, MicroStrategy purchased $427 million worth of BTC at an average price of $106,237. This trend has been seen in several other parts of the market.

For example, Spot Bitcoin ETFs saw inflows of nearly $3 billion during the same period according to data from Farside. JPMorgan also made headlines by allowing its clients to buy spot Bitcoin ETFs.

JP Morgan supporting Bitcoin,
JP Morgan supporting Bitcoin, Source: x

While the bank is unlike asset managers and doesn’t offer custody or directly recommend crypto investments to its customers, its moves show a major change in Wall Street’s attitude toward Bitcoin. These developments show that Bitcoin is increasingly being recognized among legacy financial players. Bitcoin is becoming a major asset, especially in uncertain economic times.

Long-Term Holders Quietly Increase Exposure

While short-term traders continue to react to every price dip, long-term holders (LTHs) are doing the opposite.  According to data from CryptoQuant, LTHs have been steadily buying during this pullback.

Coinglass data shows that there have been two major liquidation events recently.

The first happened when Bitcoin dipped below $111,000, and wiped off $97 million in long positions.

Long-term holders scooping up Bitcoin
Long-term holders scooping up Bitcoin, Source: CryptoQuant

The second wave wiped out another $88 million in long trades as the price dropped under $109,000.

However, while the retailers are either selling or being kicked off their positions, long-term holders have been quietly capitalizing on the opportunity. CryptoQuant data shows that long-term holder realized capitalization has broken above the $28 billion mark, which is its highest level since April.

Overall, whether Bitcoin breaks above $112,000 in the coming days or takes a little longer, the ball for the next rally is already rolling.

Watch Out For These Major Price Levels On XRP After The Weekend Dip

Josh Alba
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Watch Out For These Major Price Levels On XRP After The Weekend Dip

Key Insights:

  • XRP has lost a major support level at $2.50, and its price action is currently showing mixed signals for traders.
  • The cryptocurrency is hovering around the $2.35 Fibonacci retracement level, and a break above or below could determine its short-term moves.
  • Despite short-term bearish indicators, some analysts like Crypto Yoddha see a bullish pennant pattern that could lead XRP to $5-$10.

After starting the current year on a bullish note, XRP itself has declined somewhat and is facing a crossroads. The cryptocurrency recently lost a major support level, and its price action has turned confusing for traders.

Because of this, traders and investors are left watching for signals of what comes next. Here are a few indicators flashing both bullish and bearish signals for XRP.

XRP Loses Major Support Around $2.50

For several months, XRP climbed steadily upwards within an ascending channel, in what analysts agreed to be a bullish indicator. However, this momentum stalled when the price hit resistance around $2.50.

The interesting part about this level is that it aligned with the 0.236 Fibonacci retracement zone, which means that the $2.5 price level is a psychologically and technically important point.

The rejection at $2.50 triggered a pullback, in what appears to be an attempt from the bears to push the price below the 200-day Exponential Moving Average (EMA).

Price action on XRP
Price action on XRP | Source: TradingView

At the time of writing, XRP was hovering around the $2.33 price level, which corresponds with the 0.5 Fibonacci retracement level. Because of how important this level is, a break above could help XRP regain its footing.

On the flipside, a break below could send XRP lower, with the next support levels sitting at $2.29 (0.618 Fibonacci) and $2.20 (0.786 Fibonacci). It is worth mentioning that XRP also needs to reclaim the $2.42–$2.45 zone as well.

That range has become a short-term resistance, and if XRP manages to push back into this area, it could point towards a return to upward momentum.

A Pennant Pattern and $10 Targets

While short-term technicals are currently showing bearish or neutral patterns, some analysts are seeing a much larger move.

For example, analyst Crypto Yoddha believes XRP is forming a bullish pennant pattern. For context, pennants are a continuation structure that tends to follow a strong breakout.

Insights from Crypto Yoddha
Insights from Crypto Yoddha | Source: X

According to Yoddha, the recent price action may simply be “Round 2” of a major rally that started after a long accumulation phase from 2021 to 2024.

XRP broke out above $2 in early 2025, and the current consolidation may be the pause before a bigger move. If this pattern plays out as expected, the cryptocurrency could be on its way towards the $5 to $10 range.

Network Activity Plummets 95% in Six Months

Adding to the ongoing issues is the decline in XRP’s network activity. According to data from XRP Scan, the rates of daily active accounts have dropped from a peak of 105,000 on December of last year, to just 10,900 as of May 25 this year. This stands as a massive 94% drop in less than six months.

The drop in network activity
The drop in network activity | Source: X

Interestingly, this peak came during XRP’s first breakout above $1 and amid the speculation of pro-crypto administration in the US after the elections.

At the time, excitement over Ripple’s legal battles helped fuel the surge. However, despite progress on this front lately, interest appears to have faded.

What the Charts Say

At the time of writing, XRP was trading at around $2.33 and was up nearly 5.31% in 24 hours and over 0.35% over the week.

According to the charts, the cryptocurrency is now clinging to short-term support at $2.24 while holding above the longer-term base of $1.91. If this support zone near $2.24 holds, XRP could mount another push toward the $3.20–$3.60 range.

Price levels to watch
Price levels to watch | Source: TradingView

However, any breakdown below $1.91 would be a completely bearish sign, and further decline could follow. Overall, the immediate Support for XRP currently sits at $2.35 (0.5 Fibonacci), followed by $2.29 and $2.20.

The major Support Floor sits at $1.91, and a breakdown below this could trigger a sell-off.

Finally, XRP needs to reclaim the $2.42–$2.45 zone and convert it into support. This would in turn open the doors to upside targets of $2.99, $3.20–$3.60, and then $5 to $10.

Whale Buys 30K ETH as Ethereum Eyes 2W Channel Reclaim

Maxwell Mutuma
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0
Whale Buys 30K ETH as Ethereum Eyes 2W Channel Reclaim

Key Insights:

  • Whale buys 30,000 ETH at $2,513, now up $1.52M as ETH nears 2W Gaussian Channel reclaim.
  • ETH inflows spike above 200K as long-term holders accumulate ahead of a potential breakout.
  • Ethereum smart contract deployments hit 250K/day, the highest since 2021 bull market.

Ethereum may be preparing for a major move as it approaches a key technical level. A whale’s $75.39M ETH buy at $2,513 aligns with the asset’s attempt to reclaim the 2-week Gaussian Channel.

This comes as on-chain inflows hit multi-month highs and contract deployment surges past 250K daily, showing renewed confidence in the network.

Whale Accumulation Aligns with Key Technical Reclaim

An Ethereum whale has just purchased 30,000 ETH in an over-the-counter deal for $2,513 which cost about $75.39 million.

eth price
Source: X

At of writing, ETH is valued at $2,690.37, so the whale is sitting on an unrealized profit of about $1.52 million. Earlier, the same wallet managed to make $23.73 million by smartly buying and selling Ethereum as the market fluctuated.

This move reflects that the investor believes Ethereum will rise in price and is in line with a key pattern appearing on the charts.

At this time, Ethereum is approaching the upper limit of the 2-week Gaussian Channel, which has often marked major rallies in the past.

ethereum usd
Source: X

In the past, this structure has helped the market take off during bullish times. In 2020, once ETH went above this zone, its price rose from around $300 to more than $4,000.

The same thing happened in 2024 when Ethereum jumped from $2,400 to over $4,100 after reaching that level again. As we move into mid-2025, Ethereum is again trying to reclaim this level.

If the asset keeps moving forward and breaks out above this channel, it may revisit the $4,000 level in the coming months.

On-Chain Inflows and Dollar Weakness Add to Bullish Case

Additionally, the strong behaviour seen on the Ethereum blockchain further supports its technical structure. Inflows of ETH into accumulation wallets have surged to over 200,000 ETH, a level that was only seen during the lowest points of previous markets.

ETH Inflows into accumulating address
ETH Inflows into accumulating address | Source: CryptoQuant

These purchases are not like regular retail buys but instead come from wallets connected to long-term investors. When we see such inflows, it means investors are choosing to invest for the long term instead of trading quickly.

On the macro side, Ethereum seems to be going up when the U.S. Dollar Index (DXY) falls, a pattern that has been important in previous cycles.

In both 2020 and 2022, the DXY reached its highest point while ETH was at its lowest, and this was followed by significant increases in ETH’s price.

DXY vs. ETH
DXY vs. ETH | Source: X

In 2025, the DXY has fallen again, yet Ethereum is making a new low on its weekly chart, which could indicate a coming uptrend. If the link is confirmed, ETH could be getting ready for a major rise as the dollar remains weak.

Builder Activity Returns to 2021 Bull Run Levels

Even though price and big economic news are in focus, Ethereum’s network is also showing strong signs of life.

The number of daily smart contract deployments by developers increased in May 2025. Over 250,000 contracts were deployed on multiple days during the month, according to Etherscan.

Ethereum daily deployed contracts
Ethereum daily deployed contracts | Source: Etherscan

This is the highest level of activity by on-chain developers since the bull market in 2021. When the number of blockchain deployments increases, we tend to see more dApps, new protocols and useful innovations.

More builders are joining Ethereum because they have greater confidence in its future as a platform for innovation and decentralized finance.

As Ethereum leads the way as the top smart contract blockchain, the rise in development could lead to more financial instruments, NFT platforms, staking services and other features that help the network’s economy grow.

Even though the price doesn’t rise right away, this growth supports the value of Ethereum. All these factors, including whale buying, technical reclaim, higher inflows and positive macro trends, make this burst of development activity another sign that Ethereum could perform well as we approach late 2025.

BNB Eyes $730 As Bullish Consolidation Sets Up Next Breakout Move

Jackson Kelley
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BNB Eyes $730 As Bullish Consolidation Sets Up Next Breakout Move

Key Insights:

  • BNB trades just 10% below ATH, showing a stronger recovery than most major altcoins.
  • BNB Chain leads with over $8.5B daily trading volume, topping Solana and Ethereum.
  • Weekly transactions on BNB Chain surpass 80 million, marking 49% growth in one week.

Binance Coin (BNB) was currently consolidating around $689, preparing for a possible break above that level. According to current technical and on-chain data, the market is getting ready to challenge the $730 resistance level.

While crypto volumes have gone down on many chains, BNB Chain is still seeing strong transaction numbers and regular trading. Because of this, the price has stayed strong and close to its highest level ever.

Price Structure Builds Toward Key Resistance

BNB has been trading below $730 after it recently broke through $620. The trend is currently bullish, as confirmed by repeated visits to the $660–$680 range.

If the token can clear $730 and maintain the momentum, it could open the door for further price growth.

bnb price chart
Source: X

Price is in a rising range with higher lows and a descending resistance trendline already broken.  The token is now in a new accumulation phase following this breakout. As volume creeps up, a continuation move toward the next resistance band is on the cards.

BNB percentage drawdown from ATH
BNB percentage drawdown from ATH | Source: X

In addition, IntoTheCryptoverse reports that the current percentage drawdown from the all-time high is only -10.13%. That makes BNB one of the best-performing major assets from its peak.

Because the drawdown is so small, the price is more stable than that of many other large-cap coins, which are still far from their previous highs.

Trading Activity on BNB Chain Remains High

Although the wider market is slow, BNB Chain is still seeing a lot of activity. According to Token Terminal, $8.597 billion worth of assets were traded on the BNB Chain on May 25.

It is more than twice the size of Solana’s $2.5 billion and almost eight times bigger than Ethereum’s $1.1 billion.

Chains trading volume
Chains trading volume | Source: token terminal

Even though trading volumes on major blockchains have decreased by 75% since January 2025, this high activity is still present.

Although Solana is more popular among developers and gets more attention, BNB Chain handles more transactions each day. The fact that it holds the top position in daily trading volume points to strong liquidity and a lot of user demand.

Chains on key metrics
Chains on key metrics | Source: X

Also, this week, BNB Chain processed more than 80 million transactions, setting a new weekly record. This week’s figure is up by 49% compared to the week before.

In addition, weekly DEX volume hit $61 billion, a new record for the chain. These figures highlight the ongoing utility of the network and strengthen the resilience of BNB’s current price.

BNB Chain is doing well in various areas, especially in terms of active addresses and transaction growth.

During the past week, there were 7.86 million active addresses, up by 1.5%, and the number of transactions grew by 49% to reach 80.2 million.

During the same period, BNB Chain collected $3.24 million in fees, which is a 2% increase. Despite quieter trading in crypto markets, the increasing address count, throughput, and fees indicate that demand for block space is high.

While other chains like Sonic and Sei v2 have also seen growth in some areas, BNB is still miles ahead in total transaction numbers. By contrast, address activity and fee generation on Scroll and Optimism decreased. This divergence indicates that BNB is more consistently used.

Funding Rates Remain Flat While Price Holds

Meanwhile, funding rates indicate that BNB open interest-weighted rates have not moved far from neutral.

Coinglass reports that mid-May saw brief rises above zero, coinciding with the recent rise in price to $680. Nonetheless, the majority of the rates have stayed close to or below neutral since February.

BNB OI-weighted
BNB OI-weighted | Source: CoinGlass

Because funding is stable, it indicates that there aren’t too many leveraged long positions in the market. If momentum stays and volume expands, BNB could enter a new rally.

For now, the current price structure and the strong on-chain metrics indicate an active and liquid network, which continues to support a stable trading environment.

Why Has The Crypto Market Recovered This Week?

Maxwell Mutuma
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Why Has The Crypto Market Recovered This Week?

Highlights:

  • The crypto market cap surged by $46 billion to $3.39 trillion, on the back of institutional confidence.
  • Bitcoin is close to its all-time high, with analysts watching the $110,000 level for more bullish momentum.
  • Increasing institutional interest from Blockstream CEO Adam Back’s investment in H100 Group AB might have been a major driver of the rally.

The crypto market has seen a major boost in the last 24 hours, after adding $46 billion to reach a total market cap of $3.39 trillion.

Bitcoin continues to hover near its all-time high, while altcoins like Hyperliquid (HYPE) are rallying.  However, what are some of the reasons behind this momentum?  Here’s how a mix of institutional optimism and strategic investments are influencing today’s uptrend.

Market Cap Grows Despite Warning Signs

The total crypto market cap rose by $46 billion over the past day according to CoinMarketCap, in a show of increased confidence among investors. Even though the market saw a minor pullback last Friday, it has since rebounded strongly and is holding its ground above the $3.31 trillion support level.

crypto market overview
Source: CoinMarketCap

According to analysts, if this level continues to hold, the market cap could push higher toward the $3.49 trillion mark. This kind of movement would further reinforce the ongoing bullish trend.

However, not everything shows that the ride will be smooth. There is always a possibility of a market slowdown or even a reversal in price direction.

If that plays out, we could see the market retrace toward $3.21 trillion, which might damage investor sentiment slightly. Bitcoin is currently trading at around $109,614, and is only about 2% away from its all-time high.

This said, for BTC to break out further, it must first flip $110,000 from resistance to support.

If this happens, the next target would be $112,000 or even higher.  Overall, market watchers are optimistic but still wary of any unexpected price action. This is because a failure to reclaim and hold $110,000 could result in a downward move.

As such, Bitcoin could be on its way towards the next support zone around $106,265 if the bears somehow take over.  So far, BTC’s resilience has been strong, and the current trend shows a bullish continuation.

Institutional Confidence Grows

Beyond price charts, one of the major reasons for the recent rally is the increasing institutional interest in Bitcoin.  Just this week, Blockstream CEO Adam Back led a $2.2 million investment round for Swedish health tech firm H100 Group AB.

This move was set in motion to help the company buy more Bitcoin. Back personally contributed $1.4 million, while the remaining funds came from venture firms across Scandinavia.

More BItcoin purchases from H100
More BItcoin purchases from H100 | Source: X

Keep in mind that H100 had already purchased 4.39 BTC earlier in the week. This time, it now plans to buy an additional 20.18 BTC with the new funding.

Overall, its total holdings are expected to skyrocket to around 24.57 BTC. It is also worth noting that this makes H100 not only the first publicly traded company in Sweden to adopt a Bitcoin treasury strategy, but also one of the first in Europe.

Bitwise Predicts $420 Billion in Bitcoin Inflows by 2026

More on the bullishness, another factor driving the market comes from Bitwise.

According to the asset manager’s most recent report, Bitwise expects that Bitcoin could attract $120 billion in inflows by the end of the year. Moreover, it could see an additional $300 billion by 2026 from ETFs, corporations, and even governments.

Bitwise’s Bitcoin predictions
Bitwise’s Bitcoin predictions | Source: Bitwise

Already, U.S.-based spot Bitcoin ETFs brought in $36.2 billion in net inflows in 2024. This brought the total AUM to around $125 billion in assets under management (more than that of the gold ETFs by a wide margin). At this pace, annual inflows could hit $100 billion by 2027 and set Bitcoin up as a true competitor to gold.

Bitcoin’s Expanding Role in Global Finance

As of now, nearly 1.7 million BTC, worth over $180 billion, are held by publicly traded companies and governments.

Among these, corporations account for around 1.15 million BTC ($125 billion) while sovereign nations hold 529,705 BTC (roughly $57.8 billion).  Note that the United States leads the way with 207,189 BTC, followed by China. Overall, Bitcoin has had a great week in the last 7 days, and more bullishness is expected to follow.

Bitcoin Poised for Surge as Global Debt and Bond Yields Signal Crisis

Anuj Bhor
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Bitcoin Poised for Surge as Global Debt and Bond Yields Signal Crisis

Key Insights:

  • The worldwide bond market is in the middle of serious stress because of rising yields and increasing national debts across the US and Japan.
  • US 30-year Treasury bond yields recently hit 5.15%, a level not seen since before the 2008 financial crisis.
  • Japan, the largest foreign holder of US debt, has ended its ultra-loose monetary policy.

The worldwide bond market appears to be cracking under the weight of rising yields and international debt. While this is happening, Bitcoin appears to be breaking free from trad-fi narratives and preparing to surge.

What once seemed like a “speculative gamble” is now becoming more and more recognized as a valid alternative to legacy financial instruments.  This convergence of economic stress, sovereign debt and the search for value could just be what Bitcoin needs to grow. Here are the details of this financial wave and what it means for Bitcoin.

The Bond Market Under Siege

The worldwide bond market, which has long been considered the standard of financial safety is facing major issues. At the time of writing, Bond yields in major economies like the United States and Japan are rising at an alarming rate. This trend shows that there are ongoing concerns about fiscal sustainability and inflation.

As an example of this trend, 22 May saw the yield on the US 30-year Treasury bond hit a peak of 5.15%, which is a level unseen since before the 2008 financial crisis. Meanwhile, the yields on shorter-term US debt are still sky-high, with the 10-year at 4.48% and the 2-year at 3.92%.

US’ 10 Year Treasury
US’ 10 Year Treasury yields| Source|CNBC

This increase in yields shows that investors are leaning towards the sentiment that the US is entering a “higher for longer” interest rate environment.  The spread between the 5-year and 30-year bond has now widened to 1%, which again, has not been seen since 2021.

Historically speaking, trends like these tend to point towards persistent inflation and slower economic growth in the future. Adding fuel to the fire is America’s increasing national debt. The country’s national debt has now broken above the $36.8 trillion mark, with interest payments expected to hit $952 billion in 2025 alone.

Sky-high US debt
Sky-high US debt|Source| US Debt Clock

Investors are already questioning how viable US Treasury securities are likely to be as safe-haven assets.

Japan Joins the Debt Crisis Conversation

It’s not just the United States facing issues. Japan, the largest foreign holder of US debt, has started raising interest rates for the first time in decades.

In March 2024, the Bank of Japan raised its benchmark rate from -0.1% to 0.5% and effectively ended its era of ultra-loose monetary policy. This development has sent long-term Japanese bond yields through the roof, with the 30-year bond reaching an all-time high of 3.1%.

The 20-year yield also jumped to 2.53%, which is a level unseen since 1999. Interestingly, Japanese Prime Minister Shigeru Ishiba described the country’s fiscal condition as “worse than Greece,” especially with the country’s 260% debt-to-GDP ratio.

As the domestic yields rise and the yen strengthens, Japanese institutions (especially traditionally heavy buyers of US Treasurys) may start dumping their positions.  This would add even more pressure on the US bond market and make worldwide financial policy harder to deal with.

Bitcoin Is The Answer

Ordinarily, these rising bond yields would spell doom for risk assets like Bitcoin and stocks.  However, what we’re seeing now is a major move away from that script.

Bitcoin is not just surviving, it is outperforming almost every major asset class. This trend shows that investor psychology is changing with the times. Instead of investors dumping their positions, institutional and retail investors alike are rushing towards assets outside the fiat debt-based system.

Bitcoin has a fixed supply and decentralized nature, and is therefore a major alternative to fiat. This explains why Bitcoin is no longer the experiment it used to be. It is now both a high-growth asset and the perfect safe haven.

Institutional Confidence on the Rise

Already, Bitcoin is starting to experience a surge in institutional interest. As of May this year, assets under management in spot Bitcoin ETFs have broken above the $104 billion mark, according to Soso Value.  This inflow of capital shows that there is growing trust in Bitcoin as a long-term store of value, just like gold.

US spot Bitcoin ETF inflows
US spot Bitcoin ETF inflows|Source| Soso Value

According to data from the Bank of America, a net 38% of institutional investors were underweight US equities in early May, which stands as the lowest allocation in a year.

As it stands, the confidence in traditional markets is eroding and many investors are now choosing Bitcoin over stocks and bonds.

Bitwise recently noted in a recent report, that Bitcoin is on track to bring in over $400 billion in inflows by 2026. Ark Invest’s Cathie Wood also noted recently, that BTC will likely grow at a compound annual (CAGR) rate of 58% to $1.5 million per coin before 2030.

Solana Joins Kalshi In New Phase Of Liquidity And Price Movement

Jackson Kelley
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0
Solana Joins Kalshi In New Phase Of Liquidity And Price Movement

Key Insights:

  • US-regulated prediction market Kalshi now directly accepts Solana (SOL) deposits.
  • This integration allows SOL holders to participate in event predictions without having to convert to and from fiat.
  • Solana’s price is showing bullish indicators and is pushing towards the $200 mark.

Solana has always been praised for its speed and low transaction costs.  However, until recently, its real-world use cases had been fairly narrow.

Most of its network activity spanned around DeFi and speculative meme coin trading. However, a new development could be what makes all the difference and expand Solana’s use cases beyond speculation.

Kalshi, a U.S.-regulated prediction market platform, has officially introduced Solana (SOL) deposits.  This move creates several new ways for SOL holders to participate in real-world event predictions, without needing to convert to stablecoins or fiat.  Here’s what this means for Solana and the crypto space as a whole.

Kalshi Now Accepts SOL

Kalshi is one of the biggest prediction markets based in the United States. Just like PolyMarket, it allows users to bet on real-world events like election outcomes, weather events, or even entertainment milestones.

The Kalshi and Solana merger
The Kalshi and Solana merger | Source: X

Think of it as a platform where you can put your money on whether the next U.S. president will be a Democrat or Republican, or whether Grand Theft Auto VI will be released this year.

Until now, users had to convert crypto into fiat or stablecoins before using Kalshi. That added some friction and likely discouraged many crypto-native users. However, with SOL now accepted directly alongside Bitcoin, USDC, and Worldcoin, Solana holders can fund their Kalshi accounts instantly. More importantly, this isn’t just a minor payment integration. It is part of a bigger change in how SOL can be used.

From Speculation to Real Utility

Solana has seen massive trading activity over the last few years, especially from the memecoin market.

For example, May alone saw meme tokens account for roughly 65% of Solana’s total trading volume. While this speculative wave has contributed to the network’s overall usage, it hasn’t necessarily pointed towards long-term utility.

As it stands, Kalshi’s new support for SOL opens the door to more grounded means of using the network. Solana can now power predictions based on real-world events, which tend to require aspects like research, analysis, and genuine user conviction.

All of the above factors set Solana up as not just a speculative asset, but as a tool for change.

By aligning itself with prediction markets, Solana has now set itself up for becoming a major part of “decentralized knowledge exchange”.

Why This Matters for Liquidity

Liquidity is a very important part of any cryptocurrency’s success. From Bitcoin to Ethereum to XRP (and even fiat), liquidity influences everything from ease of trading to price stability.

The Kalshi integration creates a new flow of movement for SOL. One that could massively boost its liquidity. One major reason why this is good news for Solana is that instead of sitting idle in wallets or getting locked in meme coin positions, Solana now has some practical utility on Kalshi.

This is expected to make a major difference in terms of its price. Moreover, users’ funding, settling, and withdrawing from Kalshi using SOL is expected to drive more on-chain transactions.

In addition, the cycle of engagement is likely to become more rounded because when users close a contract on Kalshi, their funds return to their wallets. These funds can then be reused within the Solana network as the cycle of activity continues.

In addition, Kalshi has partnered with Zero Hash to allow smooth conversions between SOL and USD. This backend setup is expected to remove the need for users to take more steps than necessary. More and more users will find it easier to adopt both Kalshi and Solana.

Could This Attract New Users?

This merger is expected to attract even more people, especially users who value fast settlement, low fees, and user-friendly processes. Solana’s speed (and new use cases) could be a major win for both.

It is worth mentioning that Kalshi has also been growing very quickly, especially with the US presidential elections in 2024.

During the year, the platform reported $1.97 billion in trading volume, which was a long way up from just $183 million the previous year.

Kalshi’s growth so far
Kalshi’s growth so far | Source: Sacra

The platform has support in over 40 U.S. states and is therefore well set to attract more attention. Solana being part of the mix lets the network tap into this growing user base.

Solana’s Price Could Show This Change

Market sentiment appears to be catching on. As of late May, Solana was trading at around $176 and pushing towards the psychological $200 mark.

Price action on Solana (Bollinger bands)
Price action on Solana (Bollinger bands) | Source: TradingView

Moreover, technical indicators are showing signs of a bullish setup. For example, the 20-day EMA has crossed above the 50-day and 100-day EMAs, which is a signal that is often associated with positive momentum.

If Solana manages to break above its 200-day EMA, a stronger move towards the  $200 zone and beyond could be in the cards. In short, Kalshi’s integration may not just improve fundamentals for SOL, it could also help to fuel a price movement to the upside.

Bitcoin & Ethereum ETFs Surge With $1B+ Inflows In May 2025

Maxwell Mutuma
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0
Bitcoin & Ethereum ETFs Surge With $1B+ Inflows In May 2025

Key Insights:

  • Bitcoin and Ethereum ETFs collectively recorded over $1 billion in daily inflows last week.
  • This is the highest combined total in five months, in a show of increasing investor interest.
  • BlackRock’s iShares Bitcoin Trust (IBIT) led Bitcoin ETF inflows with $877 million in a single day.

The cryptocurrency market is heating up once again, and exchange-traded funds (or ETFs) are taking all the action.

By the close of last week, Bitcoin and Ethereum ETFs collectively recorded more than $1 billion in daily inflows. This stands as the highest combined total in five months and shows that investors are ramping up their appetites for crypto-backed investment products.

Here’s a breakdown of the drivers behind this influx and what it means for the crypto market as a whole.

Bitcoin ETFs Drive the Majority of Inflows

BlackRock’s iShares Bitcoin Trust (IBIT) led the pack over the last week, with a staggering $877 million in a single day. According to data from Farside Investors, this is the fund’s third-largest daily inflow since its launch.

In total, Bitcoin ETFs saw an impressive $935 million on Thursday, which stands as the lion’s share of the day’s activity.

Inflows into the Bitcoin ETFs
Inflows into the Bitcoin ETFs | Source: Farside

Further down the rabbit hole, IBIT added over $1.9 billion just in the first four days of the previous week.  This stands as the third time in a month that it has crossed the billion-dollar inflow mark on the weekly timeframe.

This comes after a previous record of $2.4 billion and $1 billion during the weeks of 28 April and 5 May, respectively.

It should be noted that since its launch in January 2024, IBIT has amassed nearly $41 billion in total inflows. This dwarfs its closest competitor (Fidelity’s FBTC) by a wide margin, considering how Fidelity’s offering has only taken in about a quarter of that.

Ethereum ETFs Also Gaining Ground

While Bitcoin continues to hold investor attention, Ethereum is quietly building its speed.

The Ethereum-based products pulled in over $110 million on Thursday of last week, with the Grayscale Ethereum Trust (ETHE) and Fidelity Ethereum Trust (FETH) leading the way with more than $40 million in inflows.

Ethereum’s price performance has also improved, even though it initially lagged behind Bitcoin.

Ethereum ETf inflows
Ethereum ETf inflows | Source: Farside

Ethereum is currently up by around 46% in the past month in terms of price, and is now trading somewhere around $2,565 after dipping slightly at the end of the week.

According to analysts, the sluggish performance of the Ethereum ETF market might have been due to Ethereum’s intraday 3.5% drop on Thursday.

According to Bloomberg ETF analyst James Seyffart,

Despite this, BlackRock’s iShares Ethereum Trust (ETHA) has been a major performer and has pulled in over $4.3 billion in net inflows (more than double its nearest competitor).

Overall, the eight Ethereum ETFs currently on the market have seen more than $2.7 billion in net inflows this year, though Grayscale’s ETHE has posted $4.3 billion in outflows due to its higher fees.

Record-Breaking Year for Crypto ETPs

Zooming out, 2025 is is more and more becoming an increasingly encouraging year for crypto investment products. According to CoinShares in a recent report, worldwide crypto exchange-traded products (ETPs) saw $3.3 billion in inflows in the week ending May 24.

ETP flows by asset
ETP flows by asset | Source: Coinshares

This brings the year-to-date total to a record-breaking $10.8 billion.

James Butterfill, head of research at CoinShares pointed towards the macroeconomic backdrop as a  driver of this trend, saying

According to this report, Bitcoin ETPs alone brought in $2.9 billion during the week. This made up about 25% of total inflows for the year.

Interestingly, even short-BTC products saw fresh interest, with $12.7 million in inflows, in their highest since December of last year.

Ethereum ETPs are also performing well, with $326 million in weekly inflows. On the other hand, XRP-focused products saw a steep $37.2 million in outflows.

Overall, with Bitcoin attempting to flip $110,000 into support, the interest in crypto ETFs and ETPs is not likely to fade anytime soon.  If the current trend continues, we could see this year go down as a major year for crypto adoption in worldwide investment.

Bet Gone Wrong: Hyperliquid Whale Suffers Millions In Losses

Josh Alba
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Bet Gone Wrong: Hyperliquid Whale Suffers Millions In Losses

Key Insights:

  • A whale investor lost $23.5 million on a 5x leveraged short position on $HYPE, the native token of the Hyperliquid protocol.
  • The whale opened the short position at $20.40 and added $30.5 million in USDC, but $HYPE rallied to $35.86.
  • The loss likely triggered the surge in $HYPE trading volume and wallet interactions.
  • This incident shows the risks of high-leverage trading in crypto markets, and the importance of risk management.

The crypto market just witnessed another spectacular loss.  On 23 May, a whale with the wallet address “0x20b1…” closed a massive 5x leveraged short position on $HYPE, the native token of the Hyperliquid protocol.  This closure did not end in a victory. Instead, it resulted in a massive $23.5 million loss.

This single trade set off alarm bells across the DeFi space, reminding everyone that this is not just a case of a trader losing it all. It shows just how quickly high-leverage bets can go wrong.

How the Trade Played Out

The story started on 29 April, whale 0x20B1 started pouring capital into Hyperliquid to short $HYPE.

Over the following 23 days, the trader added a staggering $30.5 million in USDC to the account, and was clearly confident that the price of $HYPE would drop.

Instead, the market turned against them. When May 8 came, the whale opened a short position at $20.40 using 5x leverage according to LookOnChain.

The whale’s moves on $HYPE
The whale’s moves on $HYPE| Source| X

Essentially, they were betting with over $150 million worth of exposure. However, $HYPE didn’t fall as they expected. It rallied, hard. And by 23 May, its price surged to $35.86. At that point, the whale’s unrealized losses ballooned to $18.8 million.

Two hours before Lookonchain published their on-chain report, the whale finally capitulated. They closed the position and were able to salvage just $6.98 million of the original $30.5 million.

Market Reactions and On-Chain Insights

On-chain analytics platforms like Lookonchain and CoinMarketCap documented the ripple effects of this whale’s moves in real-time.

For example, $HYPE trading volume spiked to $482.25 million in a 55.76% increase. The token’s price change over the past 90 days also stood at 44.21%, which is almost enough to rival Ethereum’s price increase.

HYPE price chart
HYPE price chart| Source |CoinMarketCap

According to market observers, the liquidation came alongside a surge in unique wallet interactions, with over 10,000 addresses engaged with $HYPE in just 24 hours. This shows that investors were indeed interested in this cryptocurrency, with their trades likely fueled by FOMO.

This isn’t the first time that a whale has lost big on a major trade, and it likely won’t be the last.

In fact, early May saw one whale lose $3.32 million via an Ethereum trade on Hyperliquid. Another whale lost $4 million earlier than this in March. All of these case studies show that risk management in the crypto space (and any other financial market) is not optional.

What’s Next for $HYPE and the DeFi Market?

With the whale out of the picture, bullish sentiment around $HYPE may continue in the short term.

This liquidation continues to fuel the bullish momentum, and traders are now expecting a continuation of the upward price swings.

From a technical standpoint, traders are watching for a break above the $35.4 price level. However, considering the overbought condition of the asset, this break seems unlikely, and a rejection might be in the cards.

hype price
Source |TradingView

Still,  if $HYPE breaks and holds above that level, the rally may have legs after all. On a much wider scale, this whale’s liquidation shows just how one whale’s liquidation can affect how traders approach crypto.

Where Is Internet Computer (ICP) Price Headed Next?

Maxwell Mutuma
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0
Where Is Internet Computer (ICP) Price Headed Next?

Key Insights:

  • Internet Computer (ICP) has seen a 5% price increase over the last week and is currently trading just under $6.
  • Technical analysis shows a bullish trend with ICP, as well as a possible breakout towards its 200-day EMA at $8.
  • Analysts are generally bullish on ICP, and most predictions of rallies range between $8 and $15.l.

Internet Computer has moved alongside most of the market over the last week, and has basked in the new all-time high registered by Bitcoin. At the time of writing, Bitcoin currently trades at about $111,280, and the total crypto market cap has shot up to around $3.51 trillion.

Internet Computer itself is trading at a 5% price increase over the last week, just as it trades underneath the $6 price level. The question at this point remains: Is further upside incoming for this cryptocurrency?

Internet Computer’s Price Performance

According to data from CoinMarketCap, Internet Computer is trading at a current price of $5.66.

This came amid a 2% price increase over the last day, as well as a 5% price increase over the last week.

Internet Computer’s price performance
Internet Computer’s price performance|Source| CoinMarketCap

At the time of writing, the cryptocurrency is up by around 10% over the last month, which is on the relatively low side compared to other major cryptocurrencies.

However, the trading volumes on the cryptocurrency are healthy, with $76 million over the last 24 hours before writing and a market cap of $3 billion. In all, a break above the psychological $6 price level could be in the works for Internet Computer.

What Do The Charts Say?

The charts present some interesting aspects to Internet Computer.  For example, the RSI shows that the cryptocurrency is trading strongly in bullish territory on the daily timeframe. Moreover, this bullish momentum is resulting in a crossover between the signal line and the MACD.

The current price charts on ICP
The current price charts on ICP|Source|TradingView

The charts also show that the cryptocurrency has been trading within a descending channel since February. This means that the bears had been stronger than the bulls during this timeframe. On the flipside, the current charts show a double-retest of the upper trendline of the descending channel.

What this means is that the bulls are now taking proactive steps towards initiating a breakout.

As such, any breaks above this price level could lead to a rally towards the cryptocurrency’s 200-day EMA around the $8 price level.

What Do Analysts Say?

Analysts are generally bullish on ICP, especially with the ongoing bullishness of the general market.

For example, analyst Market Maestro recently took to Twitter (now X) to note that Internet Computer is currently showing a “diamond bottom formation”.  The analyst noted that for ICP to see a reversal from its ongoing bearish influence, it first needs to to break the red diagonal resistance and move above Blue average as illustrated in the chart.

A Diamond Bottom formation on ICP
A Diamond Bottom formation on ICP| Source | X

Furthermore, the analyst mentions that ICP doesn’t look very strong for the time being.

However, if the bulls return to the crypto market and the FED reviews its interest rate policy, things could change for Internet Computer, and a solid buying opportunity could emerge.

World of Charts, another analyst believes that ICP has already confirmed a breakout from a falling wedge, and is now testing another major resistance (somewhere around $6).

https://twitter.com/WorldOfCharts1/status/1925803955860242662

This means that if the cryptocurrency successfully clears the $6 price level, it could be ready to hit not only its 200-day moving average around $8. It could be in for a major rally beyond that, towards $15 over the coming days.

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