Crypto analyst Jaydee has called out market participants who predict that the XRP price could rally to as high as $1,000. The analyst suggested that the altcoin can’t reach such heights and revealed what price levels he will be taking profits at. Analyst Indicates XRP Price Cannot Reach $1,000 In an X post, Jaydee stated that while the “moonboys and influencers: are waiting for the XRP price to reach $1,000, he plans to take more profits at his next levels. He declared that he plans to use the same strategy he employed when he called the 12x at $3.37. The analyst admitted that the altcoin is going much higher soon but suggested that those waiting for $1,000 will still get “rekt.” Related Reading: Analyst Predicts XRP Price Will Reach $20-$30 — Elliott Wave Theory Holds The Key Jaydee further remarked that they “dumb money to HODL till $1,000 for us smart money to win big.” His statement comes just a day after crypto pundit BarriC predicted that the XRP price will rally to $1,000 sooner than many expect. He further suggested that the rally will be similar to how XRP recorded an explosive surge in 2017, when it rallied from $0.0006 to $3.80. However, Jaydee doesn’t expect this to happen. Instead, his accompanying chart showed that the XRP price could just rally to a conservative target of around $7 between August and September. This would still mark a new all-time high (ATH) for the altcoin. The crypto analyst also recently predicted a 50% “moonshot” for the XRP price, which could send it to as high as $3.35 in the short term. A rally to $3.35 will bring the altcoin close to its current ATH of $3.80. It would also mark a new yearly high for the altcoin. XRP Is Bullish On All Timeframes In an X post, crypto analyst Dark Defender declared that the XRP price is bullish on all timeframes for the first time since January 2025, when it reached its yearly high of $3.3. In another X post, the analyst stated that XRP is way ahead, having recorded a breakout above $2.33. With this breakout, he remarked that the altcoin’s journey to its all-time high has begun. Related Reading: XRP Price Closes Highest Quarterly Candle In History Dark Defender’s accompanying chart showed that the XRP price could surpass its current ATH of $3.80 and rally to $4.2. This price surge is expected to happen between now and September, providing a bullish outlook for the altcoin. Crypto analyst CasiTrades also highlighted how bullish the break above $2.30 was for XRP. She claimed that the altcoin could reach as high as $3.04 on this leg up. At the time of writing, the XRP price is trading at around $2.42, up almost 4% in the last 24 hours, according to data from CoinMarketCap. Featured image from Getty Images, chart from Tradingview.com
Large investors are buying Bitcoin at record levels, which may be the precursor to a price explosion. Recent statistics indicate that these large holders, or “whales,” are acquiring around three times the amount of daily Bitcoin produced by miners as the cryptocurrency sits at key price levels. Related Reading: Bitcoin Dominates Q1: Altcoin Season Nowhere In Sight—Report Whales Purchase At Record Levels While Exchanges Witness Outflows According to Glassnode information, investors possessing between 100 and 1,000 Bitcoins are buying up the cryptocurrency aggressively. These giant holders are at present taking on over 300% of the annual supply emission of Bitcoin. Meanwhile, large crypto exchanges are seeing steady outflows of Bitcoin. This indicates that increasing numbers of whales and large holders are taking their assets to long-term storage instead of leaving them on hand for trading. Market observers view this exodus from exchanges as a sign of improving confidence in the long-term worth of Bitcoin. Most of these large investors have persisted in buying when prices drop, viewing downturns as opportunities to increase their positions rather than sell. Onchain analysts have reported that this activity is reminiscent of trends during Bitcoin’s 2020 bull cycle. Technical Indicators Reflect Key Resistance Points Bitcoin is now testing its 50-day and 200-day exponential moving averages as points of resistance. Based on previous examination by analysts, these levels are approximately $85,500. A pullback could occur if Bitcoin does not manage to breach the technical barriers. The next important support lies at about $80,000 on the upper trendline of the current wedge formation. A narrow price range has existed for some time, between about $75,000 and $85,000. This period of lackluster volatility, combined with substantial buying pressure, may well suggest that accumulation is occurring behind the scenes in anticipation of a large price move. Related Reading: BNB Weathers The Storm Better Than Altcoins, Stats Show Three-Month Correction Follows Typical Bull Market Trend The price of Bitcoin is now back to correction after almost three months since reaching highs near $100,000 earlier in the year. The price has seen a drop of nearly 30% since then. According to analysts, this drop follows the typical trend of previous bull markets. A decrease of 25-35% occurring midway through the cycle would usually denote a situation from which the prices would then continue up once again. Featured image from Pexels, chart from TradingView
MicroStrategy, the largest corporate holder of Bitcoin, has long embodied the boldest institutional bet on the cryptocurrency. Co-founder and chairman Michael Saylor’s unwavering belief in Bitcoin has defined the company’s strategy for years. However, that strategy now faces a challenge after a recent SEC filing hinted at the possibility of MicroStrategy being forced to liquidate some of its Bitcoin holdings under financial pressure and the recent Bitcoin price crash. The implications could ripple beyond the company’s balance sheet and affect Bitcoin’s broader market. Mounting Debt, Negative Cash Flow, And The Bitcoin Lifeline MicroStrategy disclosed several important financial vulnerabilities in a recent Form 8-K filed with the SEC. At the time of filing, the firm reported holding 528,185 BTC, acquired at an average purchase price of $67,458 per Bitcoin, for a total cost basis of approximately $35.63 billion. However, despite the massive size of its Bitcoin treasury, MicroStrategy admitted that its core enterprise software business has not been generating positive operational cash flow. The company is also shouldering $8.22 billion in debt and facing an annual contractual interest burden of $35.1 million. Related Reading: Crypto Analyst Warns Bitcoin Price Could See Further Crash If It Falls Below This Level Although it has issued over $1.6 billion in preferred stock tied to substantial annual dividend obligations of $146.2 million, these liabilities are not being met. Instead, MicroStrategy explicitly outlined that it expects to rely on debt or equity financing to meet its obligations, and those efforts may become severely strained if Bitcoin’s price sharply declines. The report warns that if the market value of its holdings drops significantly, it could negatively affect the firm’s ability to raise funds. In such a situation, the company might be forced to sell Bitcoin at a loss. At the time the report was filed, BTC was trading just 13% above the company’s average purchase price. Because Bitcoin forms the majority of MicroStrategy’s assets, its balance sheet is intimately tied to the crypto’s price. As such, a dip below that level could create a chain reaction of falling stock prices and ultimately force selling pressure even on the price of Bitcoin itself. Michael Saylor’s Response: Staying The Course Michael Saylor, MicroStrategy’s co-founder and former CEO, is one of the biggest proponents of Bitcoin and was influential in the company’s adoption of a Bitcoin strategy. Taking to social media platform X after the news of the report broke out, Saylor simply tweeted: “HODL,” a popular mantra among crypto purists that signals long-term conviction. Related Reading: Here’s How Much Bitcoin Creator Satoshi Nakamoto Lost After The BTC Price Crash The post has had over 1.4 million views on the platform and resonated with many bullish proponents, as seen in the comments section. He followed that with another tweet: “Bitcoin is the Best Idea. There is no Second Best.” At the time of writing, BTC is trading at $81,900, up by 6% in the past 24 hours. Even if MicroStrategy were to sell any Bitcoin at this point, it wouldn’t be the first sale of its holdings. Back on December 22, 2022, MicroStrategy sold 704 BTC for $11.8 million under similar circumstances. Featured image from Unsplash, chart from Tradingview.com
The Shiba Inu burn rate has experienced a dramatic surge, exploding by an astonishing 7,240% in just one day. This massive surge has led to the removal of over 1.1 billion tokens from circulation, effectively reducing the token’s significant supply. The latest sharp increase in SHIB burns have also caught the attention of the crypto market, bringing focus to the factors driving this substantial surge and its potential impact on the meme coin. What’s Driving The Surge In Shiba Inu Burn Rate Shibburn, a token burn tracker, has reported a massive 7,240.75% increase in Shiba Inu burn rate in the past 24 hours. Astonishingly, this substantial token burn led to the permanent removal of approximately 1,104,706,719 SHIB tokens from circulation. Related Reading: Shiba Inu Burn Rate Sees Major 600% Jump In Only 24 Hours, Will SHIB Price Follow Suit? Notably, the driving force behind this massive SHIB burn was identified to be a single wallet. This anonymous wallet address, ox6d0cf1f…, was responsible for more than 95% of this substantial Shiba Inu burn, sending approximately 1,000,148,675 SHIB tokens to a dead wallet. Following this, another address initiated a 100,000,000 SHIB burn, contributing to a significant amount of the burn activity. These combined efforts from Shiba Inu enthusiasts and community members have significantly impacted the circulating supply of SHIB, increasing the possibilities of a price surge in the meme coin. Typically, token burns are executed with the intention to increase scarcity and potentially drive up the value of a token over time. Since its inception in 2020, a total of 410.74 trillion SHIB tokens have been burnt from its initial supply of 999.98 trillion. Currently, the total supply of this meme coin stands at 589.2 trillion, reflecting a 41% decrease from its original amount. This reduction occurred in less than 5 years, marking a significant milestone for the Shiba Inu ecosystem. If burn rate continues to skyrocket, it could cause further deflation of supply, potentially leading to goals of many Shiba Inu community members, which is to drive the value of the meme coin to over $1. SHIB Price Dips Seen As Golden Opportunity Despite the increase in Shiba Inu’s burn rate, its price has remained unaffected, even declining by over $8.3% in the past week. The doggy-themed meme coin crashed from its previous high above $0.00002 to $0.0000186 as of writing. Related Reading: Shiba Inu Price Gearing Up To Fly After Lows, Here’s The Target While Shiba Inu faces this bearish trend, a crypto analyst SHIB Bezos, has highlighted the significant buying opportunities investors could take advantage of during this time. The analyst suggests that at some point, Shiba Inu will become oversold, and sellers will eventually get “exhausted”, leading to a rise in the price of the meme coin. Ahead of this increase, SHIB Bezos urges investors to take advantage of dip opportunities to buy more SHIB tokens at a discount and HODL for a long term growth potential of about 5-10 years. Featured image from Unsplash, chart from Tradingview.com
Bitcoin holdings for public U.S.-listed companies have more than doubled since January 2024.
MicroStrategy began 2025 by announcing a fresh BTC purchase made in the last two days of 2024.
MicroStrategy slowed down Bitcoin buying last week, reporting the smallest BTC buy since July 2024.
MicroStrategy keeps stacking Bitcoin despite BTC hitting all-time high prices, with its co-founder Michael Saylor confident that his company will still buy it at $1 million per coin.
Mayor Eric Adams, who took office in 2022, announced after his election victory that he would accept his first three paychecks in Bitcoin.
As the Mt. Gox trustee has yet to distribute 64% of the Bitcoin owed to creditors, the Reddit Mt. Gox community is pushing the hodl agenda.
Recent on-chain data suggests Bitcoin’s current woes might not yet be over as short-term holders continue to feel the heat. Bitcoin has failed to rebound significantly after a price decline in the past week, leaving many investors wondering whether to expect further declines in the coming weeks. Notably, data reveals short-term holders have been left […]
The crypto market is transitioning from the "enthusiastic bull" phase to the “euphoric bull” phase, explains lead on-chain analyst James Check in a latest Cointelegraph interview.
MicroStrategy keeps aggressively buying Bitcoin while completing another $603.75 million offering of convertible notes.