Crypto activity in 2024 surpasses 2021 peak, fueled by Bitcoin ETFs Chainalysis

The launch of the Bitcoin ETF in the US triggered an increase in the total value of Bitcoin activity across all regions worldwide, according to Chainalysis.

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Broadening wedge or bull flag? Either way, Bitcoin appears to be losing momentum

Traders, whales, and ETFs are buying each major dip, but Bitcoin continues to lose momentum, calling the duration of the current bull market into question.

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Bitcoin price technicals target $87K by 2025, with one key resistance level in the way

Bitcoins price breakout could be delayed until October unless it manages to overcome the key $59,600 resistance.

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Can Bitcoin get a green monthly close above $64.3K?

Bitcoins summer illiquidity could carry on into September, but lower interest rates could kickstart the real bull market in early 2025, according to analysts.

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Bitcoin Signals Recovery Despite Analyst Caution

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Bitcoin Bull Cycle Likely To Go On Till Mid-2025: CryptoQuant CEO

The CEO and founder of the on-chain analytics firm CryptoQuant has explained how this Bitcoin bull cycle could probably last till mid-2025. Profit-Taking From Old Bitcoin Whales Lasted For 18 Months In Previous Cycles In a new post on X, CryptoQuant founder and CEO Ki Young Ju has discussed about a pattern that old whales have followed in terms of profit-taking during the past cycles. “Old whales take profits during bull markets,” notes Young Ju. “Their selling brings new capital into accumulation addresses, raising realized prices.” Accumulation Addresses refer to the Bitcoin wallets that have no history of selling. These addresses also have a few other conditions, such as they must have at least two deposits and shouldn’t be connected to miners or centralized exchanges. They should also carry a balance of at least 10 BTC, and their last transaction should have been within the past seven years. Related Reading: Shiba Inu, XRP Forming Bullish Divergence, Analytics Firm Reveals The Accumulation Addresses basically reflect the perennial HODLers of the market, who only buy more and never sell. During bull markets, as old whales break their silence to harvest their profits, demand from these HODLers absorbs the selling. To display this trend, the CryptoQuant CEO has made use of the “Realized Price” metric, which keeps track of the cost basis of the average investor belonging to this cohort. When the value of this indicator is above the spot price of the cryptocurrency, it means the cohort as a whole is in a state of unrealized loss right now. On the other hand, it being under BTC’s value implies these diamond hands are currently carrying profits. Now, here is a chart that shows the trend in the Realized Price for the Bitcoin Accumulation Addresses over the past decade: As shown in the above graph, the Realized Price for this cohort observed a rise during the last two Bitcoin bull runs. This would suggest that these HODLers were buying as prices were going up, thus raising their average cost basis. This accumulation likely corresponded to profit-taking from other entities in the market. As Young Ju has pointed out, this profit-taking spree lasted for about 18 months in these past cycles. Related Reading: Bitcoin Crashes To $64,000: Will This Historical Support Hold? From the chart, it’s visible that the indicator has once again started showing an uptrend with the price rally this year. This would suggest that the Accumulation Addresses are back to absorbing profit-taking from old whales. So far, this rise has lasted for around four months, which means that there could still be around another fourteen months of it left, if the last two cycles are anything to go by. Based on this, the analyst thinks this latest Bitcoin bull cycle could end up running into mid-2025. BTC Price Bitcoin has edged close to the $70,000 level during the past day after observing a surge of around 3%. Featured image from Dall-E, CryptoQuant.com, chart from TradingView.com

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Bitcoin traders eye bear trap as BTC price hits 10-day high of $60.4K

Bitcoin bulls may be able to trap late sellers below key bull market trendlines as BTC price weekend gains pass 5%.

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Crypto Analyst Gives Reasons Why A Face-Melting Bull Run Is On The Horizon

Crypto analyst Lark Davis recently predicted that this bull run could be more massive than most people imagine. He outlined why this market cycle could stand out from previous ones.  Why This Bull Run Will Be Face Melting Davis mentioned in an X (formerly Twitter) post that crypto market participants are about to witness a face-melting bull run. He alluded to the influence of institutional investors as the reason why this bull run will stand out. For one, he noted how the US Spot Bitcoin ETFs already record hundreds of millions of daily inflows.  Related Reading: Inverted Hammer Appears On The XRP Price Chart, Crypto Analyst Picks First Target Of $0.75 Thanks to the impressive demand for these funds, Davis highlighted that fund issuers have purchased 56,150 BTC in the past 18 days of trading. He claims this amount of Bitcoin represents four months’ supply injected into the ecosystem by Bitcoin miners. These fund issuers arent only the institutions buying up the flagship crypto. Davis also noted that companies like MicroStrategy, Block, and Semler Scientific have continued to accumulate Bitcoin. The analyst also claimed that wealth managers and pension funds worldwide are lining up to invest in Bitcoin.  Meanwhile, Davis also made reference to the Spot Ethereum ETFs and the massive impact they could have in this market cycle.  These Spot Ethereum ETFs are expected to see massive inflows once they begin trading. JPMorgan predicts these funds could witness $1 billion to $3 billion in inflows, and crypto research firm K33 Research predicts these funds could witness up to $4 billion in inflows in the first five months of trading.  Crypto analysts like Michael Van de Poppe have also expressed their bullishness on these Spot Ethereum ETFs, predicting that these funds could be the catalyst for a continuation of the bull run. Specifically, they predict that these Spot Ethereum ETFs could kickstart the altcoin season, with Ethereum and other altcoins experiencing major moves.  Other Factors That Could Postively Impact This Run Following Davis post, crypto analyst Patric outlined other factors that could positively impact this bull run. First, the analyst mentioned interest rate cuts and noted that Canada and Europes Central Bank have already cut interest rates. He believes that the US will likely follow suit soon enough.  Related Reading: Bitcoin On The Verge As Global Liquidity Nears New $100 Million ATH Secondly, Patric noted that the Feds treasury buyback program has started. This development, alongside the interest rate cuts, is expected to lead to quantitative easing (QE), which could boost investors’ confidence in investing in risk assets like Bitcoin and other cryptocurrencies. Lastly, the analyst noted that this is an election year, with the US Presidential election slated for November.  Republican Presidential candidate Donald Trump also provided a much-needed boost to the market by affirming his pro-crypto stance. Based on this, Standard Chartered Bank predicts that Bitcoin could rise to $150,000 this year if Trump wins.   Featured image created with Dall.E, chart from Tradingview.com

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Cryptos Long-Tail Disruptive Trends

Parallelized Ethereum Virtual Machines (EVMs) break down smart contract execution into parallel tasks, harnessing the power of multiple nodes simultaneously. The most popular parallelized EVMs, such as Sei (SEI), Canto (CANTO), Nomad, and NeonEVM (NEON), are attempting to do this by processing transactions off-chain, then aggregating them back onto the Ethereum mainnet. This approach drastically [...]

The post Crypto’s Long-Tail Disruptive Trends appeared first on Crypto Breaking News.

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Gala Games to Officially Discontinue Popular NFT Game

Gala Games shuts down The Walking Dead: Empires NFT game by 2025, offering vault boxes as compensation.

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Glassnode Introduces Breakdown Metrics to Identify Local Bottoms in Bull Market

Glassnode launches a suite of new metrics to help traders identify local bottoms in a bull market. (Read More)

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5 of 7 on-chain indicators suggest the bull run is just beginning

On-chain indicators such as the Bitcoin MVRV Z score, Puell Multiple and hodl waves paint a bullish picture for Bitcoin investors.

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Bull Market Caution: The Cycle shows that Traders Are Less interested in betting against Bitcoin

Traders disinterest in Bitcoin shorting during this bull cycle improves market stability, allowing people to anticipate smoother price

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Bitcoin down 20%+ from all-time highs Is BTC price headed to $50K?

While the current correction remains in line with historical price corrections, Bitcoin could briefly fall to the $50,000 mark after losing the average ETF inflow mark of $59,000.

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XRP Risks Falling To $1.25 Without Critical Price Break Analyst

Market analyst Egrag Crypto has tipped XRP to fall to $1.25 in the short term, barring a specific price development. Despite a bullish trading week, which saw the altcoin trade at $2.29, the market expert explains that XRP is yet to confirm a market bottom, indicating the potential of a future price fall. Related Reading: SUI Primed For Market Correction Analyst Sets Target At $2.75 Crucial Times Ahead: XRP Must Break $2.33$2.45 To Invalidate Bearish Forecast  In an X post on April 26, Egrag Crypto shared a bearish forecast on the XRP market, suggesting a potential downswing lies on the horizon. Based on the technical analysis of the XRP trading chart, altcoin appears to be trading below the Bull Market Support Band despite recent gains due to the extensive price correction in Q1 2025. For context, the Bull Market Support Band is a price zone formed from two moving averages to help traders detect whether an asset remains in a bull market or not. When prices fall below this support band, it often signals a bear market risk. For XRP to invalidate this negative forecast, the fourth-largest cryptocurrency must close above $2.33, which represents the immediate resistance level. Importantly, XRP must reclaim the $2.45, which currently acts as the upper edge of the Bull Market Support Band.  Achieving a decisive close above both critical price levels would signal a strong market demand and reduce fear of a larger price correction. However, if XRP fails to break above this band soon, the 0.702 Fibonacci level around $1.25 becomes a likely potential target.  Egrag Crypto explains that this Fibonacci level aligns with the previous breakout structure, thus making it a strong historical support. However, a price fall to $1.25 would only constitute a major retest, which could reinforce the long-term bullish structure of the XRP market. Related Reading: Ethereum Price Reaches Last H1 Support, Next Major Resistance Comes Into View XRP Price Overview At the time of writing, XRP trades at $2.18, reflecting a decline of 0.78% in the last day. The prominent altcoin is also down 5.08% on the monthly chart, indicating that bearish pressures are still strong in the market. According to data from Coincodex, market sentiment currently remains neutral, with investors still uncertain of XRPs future. Notably, only 40% of XRPs last 30 trading days have been profitable. Interestingly, Coincodex analysts expect the asset to retain its recent bullish form in the short term to potentially trade at $2.50 in five days. However, they remain highly bearish on long-term prospects, projecting a price of $1.97 in one month and $1.65 in three months. Featured image from iStock, chart from Tradingview

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$9 Billion Floods Into Crypto Market in One Week Bull Run Confirmed?

The crypto market has witnessed about $9 billion inflows in one week, and investors are feeling optimistic, hinting at a new bull run

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Ripple (XRP) at a Crossroads: Hold 0.702 Fib or Risk a Sharp Drop to $1.25

Ripple (XRP), the fourth-largest cryptocurrency by market cap, is at a critical juncture as technical analysis points to a potential short-term correction. XRP is trading at $2.19, with a 24-hour trading volume of $3.2 billion, according to CoinMarketCap. The token has seen a 5.7% increase over the past week, reflecting strong momentum fueled by recent […]

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Bitcoin Bull Market Remains Intact Unless This Support Breaks Analyst

Popular crypto analyst Tony Severino has shared a bold take on the current Bitcoin (BTC) market structure. The chartered market technician has stated that the Bitcoin bull market remains active unless the price falls below a specific level.  Notably, Bitcoin saw a heavy correction after hitting a peak price of $109,000 in January. Over the last three months, the premier cryptocurrency has traded as low as $74,000, representing a devaluation of over 32.5%. Although there has been a notable price bounce in April, an ever-present market uncertainty means speculation remains abound on the viability of the present bull cycle. Related Reading: Bitcoin Dominance At Risk Of Crash To 40%, Why This Is Good For Ethereum, XRP, And Altcoins $49,000 As Key Price Level For Bitcoin – Here’s Why In an X post on April 18, Severino has identified the $49,000 price region as the make-or-break zone for the Bitcoin market.  With the help of a weekly trading chart, Severino highlights that Bitcoin remains on an ascending trendline stretching as far back as Q3 2023.  An ascending trendline represents a sustained uptrend in price action, typically confirmed by the formation of successive higher highs and higher lows. It typically demonstrates a persistent buying pressure and sufficient underlying demand, thus ensuring a prolonged price rally. Generally, the higher lows reflect the strength of an ascending trend. Therefore, any fall below the previous higher low undermines the bullish momentum and indicates a likely change in market sentiment.   According to Severinos chart, the last higher low on Bitcoins ascending trendline stands at $49,140. Therefore, this level represents a key support region, any price fall below which would invalidate the present bull run and signal a new market cycle.  At the time of writing, Bitcoin remains in consolidation trading between $83,000 and $86,000 as seen over the past week. The market appears to be finding stability with accumulation now on the rise.  Amid the US 90-day pause on new tariffs, the likelihood of a sharp downside catalyst is relatively low. However, the potential for a decisive price breakout remains uncertain, as broader market sentiment continues to face key resistance barriers at $86,000 and $91,000 price regions. Related Reading: Brace For Impact: Dogecoin May Plunge Before Skyrocketing 400%Analyst Bitcoin Price Forecast At press time, Bitcoin is trading at $85,312, reflecting a price gain of 0.91% in 24 hours. Interestingly, the assets trading volume is up 19.77% and valued at $15.26 billion. According to price prediction firm Coincodex, market sentiment among investors is neutral. However, there remains a significant level of caution with the Fear & Greed Index standing at 37. In forecasting Bitcoin fortunes, Coincodex anticipates a full bullish market reversal with projections of $108,296 in five days and $111,236 in a month. Featured image from Adobe Stock, chart from Tradingview

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Dylan LeClair: Bitcoin Bull Market Dip or Cycle Regime Shift?

Bitcoin fell below $60,000 amid fears of global conflict. Analyst Dylan LeClair unpacks whether this represents a true shift in momentum, or simply a bull market correction as bitcoin moves higher.

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Bitcoin Price Stalls Below $31,000, Is The Best Time To Buy Next Monday?

The Bitcoin and crypto market eagerly observed the expiry of the quarterly BTC and ETH options today (at 8:00 am UTC / 4:00 am EST). It was the second largest in history with a volume of 159,000 BTC options and 1.25 million ETH options with a total value of almost $7 billion. The market was [...]

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