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Bitcoin is once again in the spotlight as it hovers around $117,900, up nearly 8% this week. The rally has been fueled by a mix of bullish chart patterns, favorable macroeconomic conditions, and surging institutional interest. With RSI readings above 75 and continued inflows into spot Bitcoin ETFs, the momentum could push Bitcoin beyond $120K, with $127.6K now emerging as a realistic near-term target.
In a Sunday post on X, crypto commentator Matt Wallace claimed that Coinbase executives feared a potential pardon for Zhao and Binance’s return to the US market would threaten their market share, prompting efforts to undermine competitors. Wallace wrote, “Binance is the world’s #1 crypto exchange,” warning that Binance’s return with full legal status could severely damage Coinbase’s business.
AVAX just cleared a major technical milestone. The price has officially broken above a long-term descending resistance that has been in play since early 2024. As highlighted by analyst Kaleo, AVAX is now starting to consolidate above this breakout zone, which could set the stage for a stronger move if this level holds. The trendline that previously acted as a ceiling is now flipping into support, a bullish structural shift.
This here theory of ours involves a rigmarole of waves; a three-wave corrective jig after a five-wave fandango, if you will. According to the scribblings on Bitcoin’s daily diary, after sneaking around $65,000 for a spell, it seems this lil’ cryptocurrency threw off its shackles and went on an impulsive spree, bounding from $65,000 to a stunning $90,000! Ain’t that a sight to behold? But here comes a hiccup – it hit another bump, partway through its little dance.
One cannot help but admire the sharp rise in open interest, a veritable deluge of newcomers and aspiring speculators eager to ride the coattails of success. It appears that deeper liquidity and renewed confidence in Hyperliquid’s on-chain order book model is the new siren’s song. Analysts, those wise sages of our time, proclaim that this uptick in futures activity might just enhance price discovery and execution efficiency, whilst also tossing the dice for a sprinkle of market volatility. Is it not delightful? 🎲
Mind you, there wasn’t a grand announcement or a confetti parade to herald this audacious rise. No, my dear, a concoction of subtle, simmering forces has joined—like elegant dancers—on this delightful stage to coax the price upwards.
In a rather dramatic turn typical of a melancholic novel, the crypto trader famed for his daring high-leverage wagers, Mr. James Wynn, has seemingly vanished from the social media scene, following dizzying losses in the nine digits. Alas, his handle has now vanished into the ether, leading one to ponder whether it was mere coincidence or perhaps a tragic fate of bankruptcy.
The following guest post/opinion editorial was penned by Kamal Youssefi, the big cheese over at The Hashgraph Association.
XRP has been on a tear lately, with a rally that would make even the most seasoned investor blush. However, as our favorite coin climbs higher, the potential for profit-taking increases, as we’ve seen in the last 24 hours.
And get this, the bad guys used USDT to launder the loot, transferring it to offshore wallets faster than you can say “digital wallet.” The Directorate of Criminal Investigations (DCI) is on the case, working with the bank’s cybersecurity team, and they’re promising arrests “any day now.” 🕵️♂️💻
