Dead On Arrival: 25% Of New Crypto Tokens Didn’t Survive Q1 ’25
They say journalists never truly clock out. But for Christian, that’s not just a metaphor, it’s a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn. Christian’s journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats – a testament to his dedication to his furry companions (more on that later). Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling – right up his alley! So, he landed a killer gig at NewsBTC, where he’s one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian’s all work and no play? Not a chance! When he’s not at his computer, you’ll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. Speaking of chill, Christian’s got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin’ helps him analyze and write meticulously formatted articles even better. Here’s the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day – and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies. Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors – and bosses – he deeply respects. So, the next time you tread into the world of cryptocurrency, remember the man behind the words – the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.
‘Annoying As Hell’ – Analyst Predicts XRP Will Crash 30%
XRP fell below $2.30 this week, wiping out all the gains registered in last week’s short-lived rally. The cryptocurrency, which had risen 8% from $2.06 to $2.28 last week, has now lost 3.5% from Monday’s opening price and 7% from its weekly high of $2.36. Market Expert Forecasts Potential 30% Fall To $1.55 A cryptocurrency analyst, Block Bull, forecasts that XRP might drop much deeper in the near future. From the analyst’s April 29 X post, XRP could not break the resistance level at the top of a bull flag pattern on the daily charts. This technical failure may push the price to $1.55, which would be “annoying as hell”, according to Block Bull – a 30% fall from the high of the pattern – and 28.6% from current levels. Block Bull informed followers this possible price fall would be brief and could prove to be the perfect entry point for investors. The analyst intimated big money players tend to use such downturns in markets to accumulate holdings at bargain rates. Likely $XRP is going to fall 30% along with $XLM that Ive just posted. bottom of bull flag and fib level will be a great entry $1.55 (annoying as hell) bleeding the average guy and this is why the rich get richer cos theyre the only ones able to afford to HODL pic.twitter.com/pG3h30Swks — BLOCK BULL (@TheBlockBull) April 29, 2025 XRP Not Alone As Bitcoin And Ethereum Also Struggle The decline pressure on XRP is in line with weaker trends in major cryptocurrencies overall. Bitcoin is struggling to remain above the $95,000 threshold while Ethereum has fallen below $1,800. That this is a market-wide correction and not a specific XRP problem is indicated. Competing Analysis Provides More Optimistic Forecast Not everyone who watches the market sees the dismal outlook. Others noted that while declining 6% in two days from $2.28 to $2.14, XRP has been able to remain above important support levels on shorter timeframes. They said that if XRP can hold support at $2.14, the price may bounce back to $2.24 or higher in short order. More positive predictions even indicate that XRP could hit $5 in a month, a new all-time high for the cryptocurrency. Liquidation Data Shows Market Imbalance Meanwhile, latest trading statistics by Coinglass indicate a shocking disparity in market positions. Within 24 hours, nearly $14 million of long positions (bets on the price going up) were liquidated, while just $1.48 million worth of short positions were sold. This almost 1000% gap indicates the majority of traders were placing bets on price rises when the market started going into decline. The sudden sell-off of such a large number of long positions had a cascade effect, dropping prices even quicker. Open interest also declined by 4%, indicating traders were closing out as uncertainty mounts. As of the most recent trading figures, XRP stands at $2.20, down 1.14% since the beginning of the day. Investors now have conflicting messages regarding whether to anticipate further declines or perhaps a possible rebound in the coming days. Featured image from Unsplash, chart from TradingView
Bitcoin Price To Break Key Resistance For Rally With A Crash To This Zone First
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and publishing Strict editorial policy that focuses on accuracy, relevance, and impartiality Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio. Este artículo también está disponible en español. The Bitcoin price seems to have hit an important make it or break it point that will determine the next course of action. While sellers seem to be running out, there is still enough pressure to keep the bulls at bay. This continuous beating down of the Bitcoin price, as well as its failure to make a notable break above resistance at $95,800 in the last few days, suggests there is more to be done. So, what happens when Bitcoin does make a definite breakout? Bitcoin Price Could Sweep Liquidity At $93,000 With the Bitcoin price being beaten down, there is the possibility that the cryptocurrency could fall a bit further before resuming its uptrend. This was explained by crypto analyst TehThomas on a TradingView post, mapping out the possible directions of Bitcoin, with both hinging on two major levels. Related Reading The first of the major levels mentioned was the resistance at $95,400-$95,800 that has been holding back the Bitcoin price from its campaign for $100,000. The analyst explains that this has become an important level to beat, given the fact that it has rejected the price multiple times already. As a result, there has been the formation of a range just underneath this resistance level as bulls seem to be backing down. However, regardless of the loss in momentum, the crypto analyst explains that the broader trend structure is still the same. This means that the Bitcoin price is still bullish, especially with a higher timeframe ascending trend line and the formation of higher lows recently. Source: TradingView The one roadblock faced by the Bitcoin price from here is the possibility of it falling to do a liquidity sweep at the $93,000-$93,800 levels. A successful sweep and a rebound from here would see adequate absorption of liquidity, which would be used to fuel a higher price rise. Thomas explains that “This zone is confluenced by the ascending trendline from previous swing lows, offering a clear area for a liquidity sweep.” Bullish Or Bearish Scenario Next? In terms of where the Bitcoin price is headed next, it comes down to the liquidity sweep and if resistance is broken. As Thomas explains, a drop to the $93,000-$93,800 level for liquidity is most likely at this point to sweep out late longs and introduce fresh liquidity into the market. “A dip into this level that still respects the trendline would maintain bullish structure despite violating the local higher low.” Related Reading On the flip side, if the Bitcoin price were to fall lower than $93,000, then the sweep could be unsuccessful. This would lead to a break in the bull structure and likely cause the price to collapse further. “In the worst case scenario possibly invalidating the breakout thesis temporarily.” BTC set to break $95,000 again | Source: BTCUSDT on TradingView.com Featured image from Dall.E, chart from TradingView.com
Coinbase Sees Major Bitcoin Withdrawals as Binance Derivatives Activity Rebounds
Meet Samuel Edyme, Nickname – HIM-buktu. A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others. Edyme’s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis. Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. These hands-on experience through major market events—like the Terra Luna crash, the wave of bankruptcies in crypto firms, the notorious FTX collapse, and even CZ’s arrest—has honed his keen sense of market dynamics. When he isn’t crafting engaging crypto content, you’ll find Edyme backtesting charts, studying both forex and synthetic indices. His dedication to mastering the art of trading is as relentless as his pursuit of the next big story. Away from his screens, he can be found in the gym, airpods in, working out and listening to his favorite artist, NF. Or maybe he’s catching some Z’s or scrolling through Elon Musk’s very own X platform—(oops, another screen activity, my bad…) Well, being an introvert, Edyme thrives in the digital realm, preferring online interaction over offline encounters—(don’t judge, that’s just how he is built). His determination is quite unwavering to be honest, and he embodies the philosophy of continuous improvement, or “kaizen,” striving to be 1% better every day. His mantras, “God knows best” and “Everything is still on track,” reflect his resilient outlook and how he lives his life. In a nutshell, Samuel Edyme was born efficient, driven by ambition, and perhaps a touch fierce. He’s neither artistic nor unrealistic, and certainly not chauvinistic. Think of him as Bruce Willis in a train wreck—unflappable. Edyme is like trading in your car for a jet—bold. He’s the guy who’d ask his boss for a pay cut just to prove a point—(uhhh…). He is like watching your kid take his first steps. Imagine Bill Gates struggling with rent—okay, maybe that’s a stretch, but you get the idea, yeah. Unbelievable? Yes. Inconceivable? Perhaps. Edyme sees himself as a fairly reasonable guy, albeit a bit stubborn. Normal to you is not to him. He is not the one to take the easy road, and why would he? That’s just not the way he roll. He has these favorite lyrics from NF’s “Clouds” that resonate deeply with him: “What you think’s probably unfeasible, I’ve done already a hundredfold.” PS—Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He’s 100% Him-alayan. Screw it, he ate the opp.
Traders Rush Into Bitcoin Options as Implied Volatility Drops, Is a Big Move Coming?
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and publishing Strict editorial policy that focuses on accuracy, relevance, and impartiality Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio. Este artículo también está disponible en español. As the broader crypto asset market takes a breather following its recent rally beyond a $3 trillion market capitalization, traders are increasingly seeking leverage through options contracts on Bitcoin and Ethereum. This surge in derivatives activity comes as both BTC and ETH prices consolidate in a narrow trading range, with Bitcoin holding between $94,000 and $95,000 during the same period. Related Reading The tight price action is reflected in falling implied volatility (IV) levels. Bitcoin’s 7-day IV dropped from 53% to 38% midweek, while the 30-day IV declined to 43%, down from 50%. Bitcoin implied volatility (IV). | Source: Derive.xyz Ethereum’s volatility metrics mirrored the trend, with 7-day and 30-day IV retreating from 74% to 61% and 69% to 63%, respectively. This declining volatility is creating what some analysts describe as a low-cost environment for leverage, prompting traders to take advantage of options pricing dynamics. Ethereum implied volatility (IV). | Source: Derive.xyz Options Traders Favor Bullish Exposure Despite Diverging Sentiment Dr. Sean Dawson, head of research at Derive.xyz, noted a strong bias toward bullish positioning among options traders on the platform. Dawson said: A staggering 73% of all BTC options premiums are being used to buy calls, with Ethereum seeing an even higher percentage at 81.8%. According to Dawson, calls are outpacing puts by a 3:1 ratio for Bitcoin and 4:1 for Ethereum on Derive. However, he cautioned that Derive activity may not fully reflect sentiment across the broader market. Options data from Deribit, a major crypto derivatives exchange, indicated a more balanced positioning, with normalized delta skew suggesting mixed sentiment. While Derive users appear to be positioning for upward price movement, other venues reflect more hedged strategies. Still, Dawson maintained that in the absence of any major shocks, BTC and ETH could remain near current levels through the end of May. Dawson wrote: In terms of price predictions, the outlook for BTC remains stable, but the likelihood of a downside is becoming more bullish. The chance of BTC settling above $110K by May 30 remains at 11%, while the likelihood of BTC dropping below $80K has decreased from 11% to 8%. For ETH, the chance of it settling above $2,300 by May 30 remains at 9%, with the chance of it falling below $1,600 has dropped from 24% to 21% in the last 24 hours. Bitcoin On-Chain Data Shows Strengthening Fundamentals In parallel to the derivatives market activity, on-chain indicators suggest strengthening investor confidence. A CryptoQuant analyst known as Yonsei Dent highlighted renewed momentum in Bitcoin’s Market Value to Realized Value (MVRV) ratio. Bitcoin price and MVRV ratio. | Source: CryptoQuant As Bitcoin’s price recovered to $94,000, the MVRV ratio rose to 2.12, nearing its 365-day moving average of 2.15. According to Dent, this implies that holders are currently sitting on an average unrealized gain of approximately 112%, a level that has historically aligned with strong market positioning. Dent added that if the 30-day moving average of the MVRV crosses above the 365-day trend in what is known as a “golden cross,” it could act as a confirmation of resuming bullish momentum. Related Reading Such patterns have preceded significant rallies in previous cycles. However, Dent also emphasized the importance of continued observation of the MVRV trajectory to evaluate the sustainability of the trend. BTC price is moving upwards on the 2-hour chart. Source: BTC/USDT on TradingView.com Featured image created with DALL-E, Chart from TradingView
BTC Price Prediction: Bitcoin Traders Eye Breakout to Highs as Trump Says Tariff Deals Progressing
The crypto market remains in prolonged consolidation with the overall market cap approaching $3 trillion as analysts eye a possible bitcoin (BTC) breakout that could push the market higher. Bitcoin hovered near $95,00 on Thursday, while ether (ETH), BNB Chain’s BNB and Solana’s SOL remained stagnant. XRP and Cardano’s ADA dropped 2%, while dogecoin (DOGE) fell 3%. Spot bitcoin exchange-traded funds (ETFs) lost $56 million on Wednesday, breaking an eight-day streak that saw nearly $3 billion flow into these U.S.-listed products. Markets have been generally range-bound in the past week, setting the course for what could be an explosive move higher, some say. “Such long consolidations usually accumulate strength for further movement. The next major trigger is likely to be Friday’s labour market data,” Alex Kuptsikevich, FxPro chief market analyst, told CoinDesk in an email. “For the past five days, the market has fluctuated in a very narrow range, with some tendency towards shallower declines. Still, it has been unable to exceed its 200-day moving average, which is now passing through $3.01 trillion. A global positive is needed for a breakout, but it would open the way to the $3.5 trillion area,” Kuptsikevich added, indicating strong movements in altcoins. Pat Zhang, head of research at WOO X, mirrored the sentiment. “BTC continues to experience volatility, forming a consolidation range between $93,000 and $95,000 since April 25, building momentum for a potential breakout,” he said in a Telegram message. “The average funding rate for BTC has been negative over the past week, which is rare, indicating intense whale activity both on and off exchanges,” Zhang added. Over the past two years, the financing rate for bitcoin contracts has been negative only four times, specifically during Sept. 19- Sept. 22, 2023, Oct. 20-Oct. 27, 2023, Aug. 16- Aug. 24, 2024, and Sept. 10- Sept. 17, 2024. “Following these periods of negative financing rates, BTC experienced strong upward trends, suggesting that whale accumulation could be positioning BTC for a potential upward move,” Zhang noted. Macroeconomic sentiment remains dented as traders globally eye the next steps made by President Donald Trump in the ongoing tariff tussles. Per Bloomberg, Trump acknowledged Wednesday that his tariff program had a perception problem and posed a significant political risk, but he remained determined to push on. He said “potential deals” with South Korea, India, and Japan were already in place and that a deal with China was progressing in his favor.
Bitcoin Still Far From A True Supply Shock, Analyst Explains
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and publishing Strict editorial policy that focuses on accuracy, relevance, and impartiality Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio. Este artículo también está disponible en español. According to a recent CryptoQuant Quicktake post by contributor Carmelo Aleman, Bitcoin (BTC) is “still far from a true supply shock.” The analyst cited several on-chain metrics to argue that despite declining exchange reserves, the leading cryptocurrency is unlikely to face genuine supply scarcity in the near term. Bitcoin Supply Shock? Not Just Yet Since April 21, BTC has been trading within a tight range between $91,500 and $95,800, offering few signals about its next directional move. While some analysts have repeatedly highlighted a potential supply shock that could drive Bitcoin’s price much higher, Aleman’s analysis offers a more cautious outlook. Related Reading According to Aleman, BTC reserves on centralized exchanges (CEXs) have declined steadily over the past year. Specifically, reserves dropped from 2,942,077 BTC on November 11, to 2,490,318 BTC as of April 28 – marking a 15.35% decrease in just five months. Source: CryptoQuant During the same period, Bitcoin’s Realized Capitalization – a metric that calculates the total value of BTC based on the price at which each coin last moved – has surged from $669.32 billion to $883.03 billion. This reflects an increase in the actual capital invested in the Bitcoin network, rather than market speculation alone. Source: CryptoQuant Aleman explains that as BTC becomes more “expensive,” a purchase of approximately 500,000 BTC at current prices could potentially drive the cryptocurrency’s price to $130,000–$140,000. However, he cautions that such a scenario would likely trigger significant selling pressure from miners. He adds: This behavior could counteract the decline in exchange reserves, since historically, miners tend to sell more as the price goes up. So even if reserves keep falling, a price surge would likely encourage enough selling to partially offset that drop. The analyst concludes that a true supply shock in this market cycle is unlikely unless Bitcoin sees a massive influx of capital – enough to push its Realized Capitalization to three or four times its current level. Technicals Point Toward BTC Breakout Despite the low probability of a supply-driven rally, all is not lost for the leading digital asset. Several technical indicators point toward an impending bullish rally for the cryptocurrency. Related Reading Notably, Bitcoin’s weekly Relative Strength Index (RSI) recently broke a long-standing downward trendline, indicating a potential momentum shift. This development could help BTC reclaim the $100,000 mark in the coming weeks. In addition, recent on-chain data shows that short-term holders are refraining from selling their BTC – even while in the red – which may signal growing investor confidence and a potential bullish reversal. At press time, BTC trades at $94,374, down 0.4% in the past 24 hours. BTC trades at $94,374 on the daily chart | Source: BTCUSDT on TradingView.com Featured image created with Unsplash, charts from CryptoQuant and TradingView.com
Bitcoin Price Rally Incoming? Bulls Target $95K and Beyond
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and publishing Strict editorial policy that focuses on accuracy, relevance, and impartiality Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio. Este artículo también está disponible en español. Bitcoin price is rising again above the $94,000 zone. BTC is showing positive signs and might aim for a move above the $95,500 resistance zone. Bitcoin remained supported above the $92,500 zone. The price is trading above $94,000 and the 100 hourly Simple moving average. There is a connecting bearish trend line forming with resistance at $95,000 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could start another increase if it clears the $95,500 zone. Bitcoin Price Eyes Fresh Rally Bitcoin price started a short-term downside correction from the $95,250 resistance zone. BTC declined below the $95,000 and $94,500 support levels. The bears pushed the price below the $93,500 support. However, the bulls were active near the $93,000 support. A low was formed at $92,970 and the price started a fresh increase. There was a move above the $93,500 and $93,800 resistance levels. The price climbed above the 50% Fib retracement level of the downward move from the $95,195 swing high to the $92,970 low. Bitcoin price is now trading above $94,000 and the 100 hourly Simple moving average. The price is also above the 76.4% Fib retracement level of the downward move from the $95,195 swing high to the $92,970 low. On the upside, immediate resistance is near the $95,000 level. There is also a connecting bearish trend line forming with resistance at $95,000 on the hourly chart of the BTC/USD pair. Source: BTCUSD on TradingView.com The first key resistance is near the $95,250 level. The next key resistance could be $95,500. A close above the $95,500 resistance might send the price further higher. In the stated case, the price could rise and test the $96,500 resistance level. Any more gains might send the price toward the $98,000 level. Another Decline In BTC? If Bitcoin fails to rise above the $95,500 resistance zone, it could start another downside correction. Immediate support on the downside is near the $94,200 level. The first major support is near the $93,500 level. The next support is now near the $93,000 zone. Any more losses might send the price toward the $92,500 support in the near term. The main support sits at $91,200. Technical indicators: Hourly MACD – The MACD is now gaining pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level. Major Support Levels – $94,500, followed by $93,500. Major Resistance Levels – $95,250 and $95,500.
Bitcoin Raging Bull Indicator Turns Back On, But This Level Holds The Key
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and publishing Strict editorial policy that focuses on accuracy, relevance, and impartiality Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio. Este artículo también está disponible en español. Bitcoin continues to show signs of resilience at the $95,000 region, pushing higher from recent lows and attempting to reclaim its bullish structure after a volatile April. The monthly candlestick for April on the CME Futures chart currently presents a strong bullish engulfing formation, which, if sustained into the weekly close, could provide the market with bullish momentum to close May with another bullish candle. The potential of this bullish close is enough to sway the sentiment among bearish proponents, according to crypto analyst Tony “The Bull” Severino. Raging Bull Tool Flashes Signal On CME Futures Bitcoin’s price action over the past two weeks has been positive and has seen an otherwise waning bullish sentiment slowly creeping back among crypto traders. Interestingly, this price action has even seen Bitcoin’s net taker volume turn positive for the first time in a while. Although the trend is still in its early stages, the renewed strength is already beginning to soften some of the more bearish outlooks, especially as key indicators start to turn. Related Reading Tony “The Bull” Severino, a well-followed crypto analyst, recently revealed on social media platform X that his proprietary “Raging Bull” indicator has turned back on. However, this indicator has turned back on only on the Bitcoin CME Futures chart, not the spot BTC/USD chart. Source: Tony Severino on X The divergence between CME Futures and the spot chart, with only the former flashing this bullish signal, has added complexity to Bitcoin’s current outlook. The Raging Bull tool, which uses weekly price data, is designed to identify early stages of powerful upward movements. According to Severino, the appearance of this signal, despite his bearish stance, suggests a meaningful shift in market structure may be developing. However, he was quick to add that a confirmed weekly close is still necessary before any firm conclusions can be drawn. Breaking Above This Level Is Key Examining the monthly chart shared by the analyst, the bullish engulfing candlestick is clearly visible following a sharp rebound from April’s lows below $83,000. Bitcoin began the month of April at around $83,000, but a swift downturn in the first few days pushed the price downward until it bottomed out at around $75,000. However, the current April candle not only erases March’s losses but also indicates increased interest in Bitcoin from institutional traders on the CME platform. Related Reading Still, despite the encouraging candlestick formation, Bitcoin must decisively break above the $96,000 to $100,000 region, where previous uptrends have stalled. This level is acting as a ceiling that could determine whether the recent bullish momentum continues or stalls. A failure to close above this range, either on the weekly or monthly timeframe, could invalidate the Raging Bull signal. Additionally, the Raging Bull indicator needs to turn back on the spot BTCUSD chart to confirm a strong bullish outlook. This can only be done if Bitcoin manages to break substantially above $96,000. At the time of writing, Bitcoin is trading at $94,934. BTC trading at $94,615 on the 1D chart | Source: BTCUSDT on Tradingview.com Featured image from Pixabay, chart from Tradingview.com
Jubilation Or Warning Sign? 90% Of Bitcoin Supply In Profit – Analysis
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and publishing Strict editorial policy that focuses on accuracy, relevance, and impartiality Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio. Este artículo también está disponible en español. Bitcoin continues to attempt to breach the $95,000 barrier with investors looking out for indicators that it might indeed do so. The digital money has failed to breach the point of resistance at this level since last Friday, market data revealed. Still, despite this strain, a very impressive 91% of entire supply of Bitcoins are in the black, reflecting what market strategists describe as the “euphoria phase” of market activity. Related Reading Profits Soar As Market Rebounds The strong percentage of profitable Bitcoin holdings is during a recent market recovery, according to data from analytics firm CryptoQuant. Technical expert Darkfost notes that when Bitcoin supply in profit is over 90%, it generally represents the last phase of a bull market. This phase usually sees large price rises before any correction takes place. During recent price drops, the supply in profit nearly fell to 75%, a level that analysts believe could have triggered widespread selling if breached. Market Pressure Eases On Holders The current context provides room to breathe for Bitcoin holders. Since the majority of holdings are in profit, investors are less pressed to offload their coins during times of market uncertainty. Source: CryptoQuant/Darkfost analysis. This diminished pressure might assist in sustaining Bitcoin’s price stability near the $95,000 level and gaining steam for future upside potential. As per various experts, this period of diminished selling pressure tends to lead to significant price action in cryptocurrency markets. Analysts Project Possible $250,000 Bitcoin Some institutions have made some high-profile Bitcoin price predictions. Standard Chartered is predicting that the cryptocurrency will hit $120,000 by the second quarter of 2025. Other market analysts have predicted higher prices, in the range of $200,000 to $250,000, before the year’s end. These are some of the predictions as Bitcoin traded at $94,900, just below the psychological $95,000 mark that has been challenging to crack. BTCUSD trading in the $94,847 region on the 24-hour chart: TradingView.com History Indicates Caution Following Euphoria Although the market mood is positive today, CryptoQuant cautions that history indicates a pattern of corrections after these euphoria periods. Historical data from past Bitcoin bull cycles suggest that after such periods of high profitability, corresponding massive price declines usually ensued. Related Reading In previous cycles, the proportion of Bitcoin supply in profit has dropped to approximately 50% at these times of correction – a characteristic of bear market situations. The euphoria phase is not permanent, with CryptoQuant CEO Ki Youn Ju intimating such periods usually last from three to 12 months before the corrective action sets in. The ongoing Bitcoin cycle has witnessed consistent growth over the past few months, driving the percentage of profitable holdings to levels that indicate both opportunity and caution. As investors observe the $95,000 resistance level, many are asking whether history will repeat itself in another spectacular price spike before an eventual correction. With 91% of Bitcoin currently in profit, the market is at a critical point that will challenge both bullish forecasts and historical trends in the coming months. Featured image from Gemini Imagen, chart from TradingView
Solana: Analysts Forecast Q3 ATH Rally As SOL Retests Make Or Break Level
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and publishing Strict editorial policy that focuses on accuracy, relevance, and impartiality Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio. Este artículo también está disponible en español. After reclaiming crucial levels, Solana (SOL) has been moving sideways within a key price range, with its next direction yet to be determined. However, some analysts suggest a breakout could kick-start a new bullish rally in the coming months. Related Reading Solana Moves Within Key Range Amid its 15% biweekly recovery, Solana, one of the leading altcoins of this cycle, has attempted to reclaim a crucial resistance after recovering the $140 support for the first time since late February. Earlier this month, the cryptocurrency fell to a 14-month low of $95 amid the market retraces, which saw Bitcoin (BTC) and Ethereum (ETH) retest key horizontal levels. Since hitting its $293 all-time high (ATH), SOL has retraced up to 63%, trading 50% below its January high at the time of writing. However, Solana climbed above some crucial ranges during the recent crypto market recovery. Over the past few weeks, the altcoin has successfully recovered the $120 and $130 support zones, breaking above the $140 resistance seven days ago, where the SOL price has been rejected since losing the level nearly two months ago. As a market watcher pointed out, Solana has been moving sideways, consolidating within the $145-$157 range for the past week. The trader noted that this range could decide SOL’s next direction, with a breakout above the upper boundary positioning the altcoin to retest higher levels. On the contrary ,if it breaks down this price range, the “next support level below at around $136,” which could also risk a drop to the $100-$120 support zones. However, Ali Martinez recently stated that Solana is forming a “textbook-perfect cup and handle pattern,” which could mark the start of a major rally for SOL. SOL Price Preparing For A Breakout? Analyst Alex from AMCrypto noted that Solana’s short-term downtrend is over after a recent breakout. He identified that SOL broke out of a seven-day falling wedge that formed within its current range, surging above the upper trendline on Monday. SOL breaks out of a short-term falling wedge. Source: AMCryptoAlex on X According to the analyst, “SOL could hit $170-$180 in the short term and most likely a new ATH by Q3/Q4,” based on its utility and demand. “It recently surpassed all other L1s and L2s combined in DEX volume, which shows its immense utility. Along with that, multiple companies are also raising funds to buy SOL, which will further add demand,” he explained. With the price attempting to hold the $150 mark, trader Lluciano_BTC considers the current level “a strong hold.” He highlighted that Solana’s uptrend “is only getting started” after breaking out of a multi-month falling wedge formation at the start of the month. Related Reading According to the chart, SOL broke out of the pattern ahead of the sub-$100 correction, testing a key demand zone during the following pullback. After recovering the $120 mark, the altcoin has been in an uptrend, which eyes the $170 resistance as the next target. As of this writing, Solana trades at $149, a 1.1% increase in the daily timeframe. Solana’s performance in the one-week chart. Source: SOLUSDT on TradingView Featured Image from Unsplash.com, Chart from TradingView.com
Bitcoin Blockchain Data Debate Reignites as Developers Weigh Looser OP_RETURN Limits
Bitcoin developers are again at odds over how the world’s oldest and largest blockchain should handle storing information on-chain, with a proposal to relax long-standing limits on the size of data held sparking fierce debate reminiscent of 2023’s battles over Ordinals. The blockchain’s OP_RETURN feature allows people attach a small piece of extra data to a transaction It is often used for things like notes, timestamps or digital records. The proposed change, put forward by developer Peter Todd, would remove the 80-byte cap on such data, a limit originally designed to discourage spam and preserve the blockchain’s financial integrity. Supporters argue the current limit is pointless because users are already bypassing it by using Taproot transactions, to hide data inside parts of the transaction meant for cryptographic signatures. This is how Ordinals and Inscriptions work (and why they have their critics): They embed images or text into Taproot transactions that are often unspendable, turning the Bitcoin blockchain into a kind of data storage system. Bitcoin Core developer Luke Dashjr, a vocal critic of Ordinals, which he has long labeled a “spam attack” on the blockchain, called the proposal “utter insanity” and warned that loosening data restrictions would accelerate what he sees as the degradation of Bitcoin’s financial-first purpose. “It should be needless to say, but this idea is utter insanity,” Dashjr posted. “The bugs should be fixed, not the abuse embraced.” Critics of the proposal also have another concern. The change could normalize illegal content storage, degrade the chain’s fungibility, and turn node operators into unwitting hosts of malware and copyright violations. To demonstrate the potential maelstrom this may bring, one Ordinals team inscribed a whole Nintendo 64 emulator onto the blockchain, which may get the attention of Nintendo, a company known for being protective of its intellectual property. Supporters of the change, including Pieter Wuille and Sjors Provoost, argued that relaxing OP_RETURN limits may actually reduce what’s known as UTXO (unspent transaction output) bloat, a phenomenon that slows down the blockchain when the network gets cluttered with non-financial transactions, and mempool fragmentation. UTXO bloat is a documented side effect of Ordinals and Inscriptions using Taproot transactions. For example, in May 2023, at the height of Ordinals’ popularity, the Bitcoin blockchain became so congested Binance had to suspend bitcoin (BTC) withdrawals for a number of hours. “The demand exists,” Wuille wrote. “And pushing it outside the public relay network only causes greater harm.” For now, the proposal remains under review. One thing is for certain: The intensity of debate on GitHub and blockchain developer mailing lists shows the battle for Bitcoin’s identity is far from over.