As the crypto market recovers from the latest pullback, XRP is attempting to climb up from its recent lows. Some analysts have suggested that the cryptocurrency must defend its current levels or risk a 50% drop to levels not seen since 2024. Related Reading: Solana Leads As Most Popular Blockchain Ecosystem For Second Consecutive Year – Report XRP At Make-Or-Break Level Amid the start-of-week market correction, XRP recorded a 6% drop toward its lowest level in weeks. The price lost $2.00 support on Monday morning and continued to lose key levels despite uninterrupted institutional interest. The cryptocurrency has been trading within the $2.00-$2.25 price range over the past month, only losing its lower boundary during the late November pullback. Monday’s correction sent the altcoin below the range’s lower support again, hitting a multi-week low of $1.88 before bouncing around an area that has been crucial for the past year. Notably, XRP has bounced from the $1.85-$1.90 support zone after every major correction since the November 2024 breakout, climbing back above the $2.00 level each time. However, some market observers have suggested that the price risks a significant correction if it is unable to hold the current levels. Ali Martinez pointed out that the cryptocurrency has fallen below its one-year price range, between the $1.92-$3.27 levels, which could lead to a 50% drop below this area. To the analyst, XRP’s price must secure a daily close above $1.92 to prevent a drop to the $1.00 support, which has not been seen in over a year. Similarly, Cheds Trading affirmed that XRP is “flirting with a high time frame breakdown.” Per the chart, the altcoin appears to be forming a high-timeframe rounding top or double top pattern with a higher high. The analyst noted that in the case of the latter, the M formation would be confirmed if the $1.88 level, where the pattern’s neckline is situated, is lost. This could lead to a “measured move to roughly [the] MA 200 area/$1.00 range.” Price Ready For 2026 Markup Phase? Despite the warnings, other market watchers shared a positive outlook for XRP in the coming months. Trader Niels affirmed that the leading altcoin is “looking good” at the current levels. According to the post, the cryptocurrency is “sweeping the $1.8 support zone again” while showing a bullish divergence on the daily timeframe, which suggests that the price could soon move to higher levels. To the trader, once XRP breaks above $2.20 resistance, it could surge 27%-37% towards the $2.80-$3.00 area “within a month.” Meanwhile, analyst ChartNerd highlighted that XRP appears to be repeating its 2023-2024 price action, which led to its massive breakout in November 2024. The chart shows that the altcoin accumulated for a year and a half, bouncing between the range’s lower and upper boundaries before its markup phase in late Q4 2024. Related Reading: XRP Hasn’t Entered A Bear Market Yet; Analyst Shares Why Following this expansion period, the cryptocurrency is showing a similar accumulation range, leading the analyst to suggest that XRP may continue consolidating within its current range before another markup phase occurs. “Regardless of scenarios, or how ugly/beautiful it gets, a massive markup phase similar to November 2024 is likely between now and late 2026,” he stated. As of this writing, XRP is trading at $1.92, a 1.65% increase in the daily timeframe. Featured Image from Unsplash.com, Chart from TradingView.com
The 10,000 BTC will generate yields for GMC's growth while being held long-term, with Bhutan ruling out selling the reserves.
Quantitative Bitcoin and digital asset fund Capriole says the price of Bitcoin could plummet if the network doesn’t develop resistance to quantum computing.
With just two days to go, the Bank of Japan (BOJ) is set to deliver one of its biggest interest rate decisions, which could strongly impact the crypto market. This time, the move is even more aggressive. Japan is preparing a 75 basis point interest rate hike, its highest level in over 30 years. History …
The world's largest Ethereum treasury company currently holds nearly 4 million ETH in its treasury, worth around $11.6 billion.
The US Securities and Exchange Commission (SEC) has officially concluded its investigation into the decentralized finance (DeFi) protocol Aave (AAVE), marking a significant development in the ongoing evolution of regulatory approaches within the cryptocurrency industry. Stani Kulechov, the founder and CEO of the Aave protocol, confirmed the end of the four-year investigation in a post on social media, expressing relief and optimism about the future of DeFi. Aave Founder Celebrates End Of SEC Investigation In his announcement, Kulechov emphasized the considerable effort and resources invested by the Aave team throughout this process. He stated, “We are finally ready to share that the SEC has concluded its investigation into the Aave Protocol.” Highlighting the impact of regulatory scrutiny on DeFi, he added, “This process demanded significant effort… to protect Aave, its ecosystem, and DeFi more broadly.” Related Reading: Will Bitcoin Suffer A 20% Decline After Japan’s Rate Hike? Historical Patterns Suggest So Kulechov expressed hope for a new chapter in which developers can freely innovate and contribute to the future of finance, asserting, “DeFi will win.” This conclusion is notable against the backdrop of heightened regulatory pressure that DeFi projects have faced in recent years. Under the previous SEC chair, Gary Gensler, the agency made a concerted effort to enforce regulations in the crypto space. In 2021, the SEC initiated 19 enforcement actions related to cryptocurrency in just the first nine months. However, recent patterns reveal a substantial shift in the commission’s stance on crypto enforcement. SEC Eases Crypto Enforcement Actions By Over 60% Since President Donald Trump returned to the White House, the SEC has reportedly eased enforcement actions in over 60% of ongoing cryptocurrency cases. A New York Times investigation published recently analyzed thousands of government documents and court records, revealing that the SEC has either dismissed, paused, or reduced penalties for a significant majority of active crypto cases since January 20, 2021. Related Reading: XRP Price Forecast: Key Factors That Could Propel It To $3 In Early 2026 While Trump’s first term saw an average of one high-profile cryptocurrency case per month—including the notable action against Ripple Labs—the current landscape indicates a less aggressive regulatory approach for major players like Binance, Ripple, and Gemini. Following the administration shift, enforcement actions against these companies have either been withdrawn or significantly softened. Paul S. Atkins, the newly appointed SEC chair under the Trump administration, has labeled this regulatory shift a “new day” for the cryptocurrency industry. At the time of writing, the protocol’s native token, AAVE, was trading at $187, having only surged by 1% following the announcement. However, on a year-to-date basis, the AAVE token has seen a significant 52% drop, with prices currently 72% down from the all-time high of $661 reached in May 2021. Featured image from DALL-E, chart from TradingView.com
Despite recent positive closes from spot XRP ETFs, the cryptocurrency’s price action is sending a clear warning to traders. Market structure remains weak, and without signs of a confirmed reversal, short-term risks persist. XRP’s current behavior highlights that bullish sentiment from ETFs alone isn’t enough to drive a sustained rally, making caution essential for anyone entering the market. New Year Volatility Hits Crypto Markets Hard Efloud, in a recent update, highlighted that with the start of the new year and continued uncertainty across the markets, cryptocurrencies have once again been among the hardest hit. Low trading volume and a lack of clear direction have kept pressure on the sector, and without an obvious reversal signal, altcoins continue to grind lower day by day. Related Reading: XRP Dominates Institutional Inflows, But Why Is Price Still Low? Given this backdrop, caution remains essential. As emphasized in previous analyses, any attempt to trade against the prevailing trend at support levels should be backed by clear bullish breakout structures on lower timeframes. Without such confirmation, moves higher are more likely to be short-lived reactions rather than meaningful reversals. From a technical standpoint, XRP’s price has now lost the “Daily Imb” zone, weakening the overall structure. If price dips below the most recent swing low and then attracts buying interest, the $1.98 area is expected to act as the first major resistance. As previously noted, the outlook remains negative unless the YO region is reclaimed. Beyond $1.98, another key resistance lies within the red boxed zone. Together, $1.98, the YO area, and the red boxed region form three critical hurdles where price is likely to face selling pressure in the near term. Price Action Still Outweighs ETF Optimism According to Efloud, while spot XRP ETFs have posted positive closes for 18 consecutive days, this development alone does not outweigh what the chart itself is signaling. He emphasized that price action and market structure remain the most important factors. Until these begin to shift in a clearly bullish direction, any purchases are better seen as part of a gradual accumulation strategy rather than a confirmation of a trend reversal. Related Reading: XRP Price Needs To Hold This Macro Support For Hope Of Revival From this perspective, these buys are primarily aimed at averaging down while the market searches for a more stable structure. Efloud added that if market suppression continues and a sharper correction unfolds, the area around $1.53 could emerge as a potential buy zone. However, this scenario depends on broader market behavior and is not a certainty. Finally, the analyst clarified that the $1.53 level was illustrated as a hypothetical example. Efloud warned that entering positions at support zones or key levels without observing clear breakout or reversal structures carries added risk and should be approached with caution. Featured image from Adobe Stock, chart from Tradingview.com
It’s estimated that Bhutan has around 11,286 Bitcoin in total, a stash worth over $986 million, making it the fifth-largest known holder among countries.
BTC's weak tone contrasted with moderate gains in major Asian equity indices, which drew strength mostly from expectations of fiscal stimulus.
While it may be possible for a public company to catch up to Michael Saylor’s Strategy Bitcoin holdings, it is probably unlikely, Bitcoin entrepreneur Anthony Pompliano says.
Grayscale says macro demand for alternative stores of value and regulatory clarity are underpinning a sustained crypto bull market heading into 2026.
Russia’s stance on cryptocurrency payments is becoming increasingly clear. Despite growing adoption and interest in digital assets, senior lawmakers insist that Bitcoin and other cryptocurrencies will never be allowed as a means of payment for goods and services inside the country. According to top officials, crypto may have a place in Russia’s financial system, but …
Lightning Network’s capacity reached an all-time high as exchanges increased adoption, while a new Taproot Assets update has enabled multi-asset transactions.
Solana started a recovery wave above the $126 zone. SOL price is now consolidating and faces hurdles near the $132 zone. SOL price started a decent recovery wave above $126 and $128 against the US Dollar. The price is now trading below $130 and the 100-hourly simple moving average. There is a key bearish trend line forming with resistance at $132 on the hourly chart of the SOL/USD pair (data source from Kraken). The price could continue to move up if it clears $130 and $132. Solana Price Faces Resistance Solana price remained stable and started a decent recovery wave from $124, like Bitcoin and Ethereum. SOL was able to climb above the $126 level. There was a move above the 23.6% Fib retracement level of the downward move from the $136 swing high to the $124 low. The bulls even pushed the price above $130. However, the bears remained active near $130. There is also a key bearish trend line forming with resistance at $132 on the hourly chart of the SOL/USD pair Solana is now trading below $130 and the 100-hourly simple moving average. On the upside, immediate resistance is near the $130 level, the 100-hourly simple moving average, and the 61.8% Fib retracement level of the downward move from the $136 swing high to the $124 low. The next major resistance is near the $132 level. The main resistance could be $135. A successful close above the $135 resistance zone could set the pace for another steady increase. The next key resistance is $144. Any more gains might send the price toward the $150 level. Another Decline In SOL? If SOL fails to rise above the $132 resistance, it could continue to move down. Initial support on the downside is near the $126 zone. The first major support is near the $124 level. A break below the $124 level might send the price toward the $116 support zone. If there is a close below the $116 support, the price could decline toward the $108 zone in the near term. Technical Indicators Hourly MACD – The MACD for SOL/USD is gaining pace in the bearish zone. Hourly Hours RSI (Relative Strength Index) – The RSI for SOL/USD is below the 50 level. Major Support Levels – $126 and $124. Major Resistance Levels – $130 and $132.
Bitcoin, Ethereum, and other digital assets have witnessed a sharp retrace during the last 24 hours, which has resulted in a long squeeze on derivatives exchanges. Crypto Long Liquidations Have Neared $600 Million During The Past Day According to data from CoinGlass, the latest sharp price action in the cryptocurrency market has accompanied a huge amount of liquidations over at the derivatives side of the sector. Related Reading: US Bitcoin Session Leads December Returns After Weak November “Liquidation” here naturally refers to the forceful closure that any open contract has to undergo after it has amassed losses of a certain degree. For long investors, this happens when the asset’s price drops, while for shorts, liquidation occurs after a surge. How much the cryptocurrency will have to move in one direction to liquidate a specific position comes down to the percentage threshold defined by the platform and the amount of leverage that the trader has opted for. During sharp price swings, positions with high amounts of leverage attached are the first to go. Bitcoin and other assets have faced some notable volatility during the past day, which has once again caught out traders on the derivatives market. As the table below shows, liquidations have crossed $650 million over the last 24 hours. About $584 million of these liquidations involved long positions alone. That’s equivalent to almost 90% of the total, showcasing how disproportionate the price volatility has been during this period. In terms of the individual symbols, the largest contributor to the liquidation event has been Ethereum, not Bitcoin, as is often the case. With over $235 million in contracts involved, Ethereum has notably outpaced Bitcoin, which has witnessed $186 million in liquidations. ETH facing more liquidations is likely due to the fact that its price drawdown has been stronger during the past day. Out of the altcoins, Solana has come out on top with $37 million in positions flushed, ahead of XRP ($16 million) and Dogecoin ($12 million). Interestingly, SOL has outperformed the two despite its losses being more limited. In some other news, the latest Bitcoin decline has meant that its price has fallen back under a key on-chain price level, as the chart shared by analytics firm Glassnode shows. The level in question is the Active Realized Price, corresponding to the cost basis of the active participants on the Bitcoin network. Currently, it’s located at $87,900, which is above the cryptocurrency’s spot price. Related Reading: Cardano SuperTrend Turns Bearish—Last Signal Preceded 80% ADA Drop Thus, it would appear that the latest dip has put the active investors as a whole into a state of net unrealized loss. Bitcoin Price At the time of writing, Bitcoin is floating around $87,200, down more than 3% over the last seven days. Featured image from Dall-E, Glassnode.com, CoinGlass.com, chart from TradingView.com
Two former Theta Labs executives filed whistleblower lawsuits alleging deceptive token practices and retaliation by the company and its CEO.
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XRP price started a recovery wave above $1.90. The price is now consolidating and might struggle to clear the $2.00 resistance. XRP price started a recovery wave above the $1.9050 zone. The price is now trading below $2.00 and the 100-hourly Simple Moving Average. There is a bearish trend line forming with resistance at $1.9520 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair could continue to move up if it settles above $2.00. XRP Price Faces Resistance XRP price remained supported above $1.850 and started a recovery wave, like Bitcoin and Ethereum. The price was able to climb above $1.880 and $1.90 to enter a short-term positive zone. There was also a move above the 23.6% Fib retracement level of the downward move from the $2.047 swing high to the $1.850 low. The bears defended a close above the $1.950 level and the price reacted to the downside. There is also a bearish trend line forming with resistance at $1.9520 on the hourly chart of the XRP/USD pair. The price is now trading below $1.950 and the 100-hourly Simple Moving Average. If there is a fresh upward move, the price might face resistance near the $1.950 level and the trend line. It coincides with the 50% Fib retracement level of the downward move from the $2.047 swing high to the $1.850 low. The first major resistance is near the $2.00 level. A close above $2.00 could send the price to $2.050. The next hurdle sits at $2.120. A clear move above the $2.120 resistance might send the price toward the $2.20 resistance. Any more gains might send the price toward the $2.220 resistance. The next major hurdle for the bulls might be near $2.250. Another Drop? If XRP fails to clear the $2.00 resistance zone, it could start a fresh decline. Initial support on the downside is near the $1.90 level. The next major support is near the $1.850 level. If there is a downside break and a close below the $1.850 level, the price might continue to decline toward $1.820. The next major support sits near the $1.80 zone, below which the price could continue lower toward $1.7650. Technical Indicators Hourly MACD – The MACD for XRP/USD is now losing pace in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now above the 50 level. Major Support Levels – $1.90 and $1.850. Major Resistance Levels – $1.950 and $2.00.
The $0.1310–$0.1315 zone is now a resistance area, with further downside likely if volume remains high on declines.
Ellison's early release to community confinement highlights the justice system's flexibility in handling white-collar crime cooperation.
The post FTX insider Caroline Ellison moved to community confinement ahead of 2026 release appeared first on Crypto Briefing.
The move followed multiple failed attempts to sustain momentum above recent resistance, leaving XRP vulnerable once support levels were tested again.
In a significant milestone for the evolution of on-chain finance, a new money market fund has selected Ethereum as its primary settlement layer toward blockchain-native infrastructure for traditional financial products. This decision reflects growing confidence in ETH security, scalability, ecosystem maturity, and qualities that institutional investors and asset managers increasingly demand when moving regulated financial instruments onto public blockchains. How The New On-Chain Settlement Improves Operational Efficiency The largest money whale in institutional finance just made its biggest move by launching a new money market fund on Ethereum, and it’s coming from J.P. Morgan Asset Management. According to an analyst known as Milk Road on X, the company oversees roughly $4 trillion in client assets, and seeds these funds with $100 million of its own capital before opening them up to the public. This fund is called My On-Chain Net Yield Fund (MONY), which is similar to a normal money market fund. Related Reading: Ethereum Emerges As A Dollar Settlement Powerhouse, Outpacing Traditional Payment Networks – Details It is set to hold assets designed to preserve capital and remain liquid. A key difference between the fund and others is that shares are issued and tracked on ETH using JPMorgan’s Kinexys platform. The feature allows the fund to settle faster, issue and redeem shares continuously, and transfer ownership without waiting on the traditional clearing system. Furthermore, this product is limited to large investors, individuals with at least $5 million investments, and institutions with $25 million, including a $1 million minimum to get started. The risk profile and purpose are familiar, and it’s a safe yield for investors. Meanwhile, for JPMorgan, this is a major operational upgrade offering faster cash transactions, tighter integration with treasury systems, and smoother collateral movement. Larger asset managers are starting by moving the safest, most conservative products on-chain first, because that’s where efficiency gains would show up immediately. “Adoption is accelerating,” Milk Road noted. Why Ethereum Is More Than Just Technology According to AdrianoFeria, the world’s greatest misunderstanding of Ethereum is viewing it solely as a technology. AdrianoFeria has pointed out that ETH is a network of economic actors coordinating around shared rules. It is also a social contract and a system that is designed to enable collaboration in the most adverse situations. Related Reading: Here’s Why Ethereum Emerges As The Global Capital Rails For On-Chain Finance At the core, ETH functions as a global and neutral arbitrator. Over time, it has proven itself to be the most long-standing, reliable, and trustworthy neutral arbitrator in the world. This arbitrator is the most valuable aspect of ETH, and any valuable model must account for it to have a chance of estimating realistic ETH price targets. “If you are stuck with a cash flow-centric valuation for ETH, then it is time to sit down and study the system more deeply, and if you believe cash flow explains most of ETH’s value, you haven’t dug deep enough,” the expert mentioned. Featured image from Adobe Stock, chart from Tradingview.com
Exodus partnered with MoonPay to launch a USD-backed stablecoin for everyday payments, integrating it into Exodus Pay for self-custodial transactions.
Ethereum price started a fresh decline below $3,000. ETH is now consolidating and might soon aim to start a recovery wave if it clears $3,025. Ethereum started a fresh decline below the $3,050 zone. The price is trading below $3,000 and the 100-hourly Simple Moving Average. There is a connecting bearish trend line forming with resistance at $3,110 on the hourly chart of ETH/USD (data feed via Kraken). The pair could continue to move down if it settles below the $2,900 zone. Ethereum Price Starts Consolidation Ethereum price failed to stay above $3,050 and started a fresh decline, like Bitcoin. ETH price dipped below $3,020 and $3,000 to enter a bearish zone. The bears even pushed the price below $2,920. A low was formed at $2,875 and the price is now consolidating losses. There was a minor recovery toward the 23.6% Fib retracement level of the downward move from the $3,175 swing high to the $2,875 low. Ethereum price is now trading below $3,000 and the 100-hourly Simple Moving Average. Besides, there is a connecting bearish trend line forming with resistance at $3,110 on the hourly chart of ETH/USD. If there is another upward move, the price could face resistance near the $2,975 level. The next key resistance is near the $3,025 level and the 50% Fib retracement level of the downward move from the $3,175 swing high to the $2,875 low. The first major resistance is near the $3,050 level. A clear move above the $3,050 resistance might send the price toward the $3,110 resistance and the trend line. An upside break above the $3,110 region might call for more gains in the coming days. In the stated case, Ether could rise toward the $3,200 resistance zone or even $3,250 in the near term. Another Decline In ETH? If Ethereum fails to clear the $3,025 resistance, it could start a fresh decline. Initial support on the downside is near the $2,920 level. The first major support sits near the $2,900 zone. A clear move below the $2,900 support might push the price toward the $2,840 support. Any more losses might send the price toward the $2,800 region. The next key support sits at $2,765. Technical Indicators Hourly MACD – The MACD for ETH/USD is losing momentum in the bearish zone. Hourly RSI – The RSI for ETH/USD is now near the 50 zone. Major Support Level – $2,920 Major Resistance Level – $3,025
Cantor Fitzgerald, one of the world’s leading asset management firms, has released an in-depth report highlighting the promising future of the decentralized exchange (DEX) Hyperliquid (HYPE). The 62-page analysis predicts significant growth for both the platform and its native token over the next decade, painting a bullish outlook for investors. Hyperliquid As ‘The Exchange Of All Exchanges’ As detailed in the report, Hyperliquid operates as a decentralized exchange specializing in trading perpetual futures and is built on a custom layer-1 blockchain. Currently, HYPE has a fully diluted market cap of approximately $15.8 billion. Year-to-date (YTD) 2025, the platform has generated an impressive $874 million in fees from a staggering $2.947 trillion in trading volume. Related Reading: Bitcoin Bottom Forecast: Top Expert Predicts $40,000 Target Next Year, Here’s The Analysis A key feature that makes HYPE particularly attractive, and highlighted in the report, is its unique fee structure: approximately 99% of all fees generated by the protocol are allocated to repurchasing and burning the underlying token. This mechanism not only supports the value of HYPE but also reduces its circulating supply. In early 2025 alone, about 2.6% of all HYPE tokens expected to be in circulation, or roughly 5% of the current supply, were repurchased and burned. With the anticipation of new product launches, Cantor Fitzgerald views HYPE as “the exchange of all exchanges” and believes there’s a realistic path for annual fees to soar to $5 billion within the next decade. Why Market Dynamics Favor HYPE When it comes to the platform’s native token, HYPE has successfully captured considerable market share and emerged as one of the standout products in the cryptocurrency space over the past year. In addition to perpetual trading, Hyperliquid has launched spot trading and HIP-3 markets, enabling users to create new markets for a variety of assets including stocks and commodities. Cantor Fitzgerald’s report emphasizes that the immediate determinant of HYPE’s market price will hinge on industry sentiment regarding competition. The ability of emerging rivals to challenge HYPE and affect its fee-generating capacity is paramount. However, the report argues that current fears surrounding competition may be overstated. It posits that “point tourists”—those who shift from platform to platform seeking incentives—are likely to return to the platform offering the deepest liquidity and best execution, which, according to Cantor Fitzgerald, is Hyperliquid. A mere 1% increase in market share from CEX competitors in the perpetuals sector could translate to approximately $600 billion in trading volume. Based on existing perpetual fee rates, this could result in an additional $272 million in annual fees. By applying a conservative 25x valuation multiple to these fees, the potential market capitalization would rise to $6.8 billion. HYPE Price To Reach $271? Assuming moderate share gains over the next decade—projecting around 17% in perpetual trades and 18% in spot trading—Hyperliquid’s annual fees could surpass the $5 billion mark. A conservative valuation multiple of 25x, this would suggest a future market capitalization of approximately $125 billion. Given that nearly all generated fees will be used to repurchase HYPE tokens, a large portion of the circulating supply could potentially be bought back by the time the platform reaches these fee levels. With a forecasted expansion of the fully diluted market cap from roughly $15.8 billion today to $125 billion in the future, combined with a declining supply of HYPE tokens, the projected share price is poised to increase at an even faster pace. Related Reading: XRP Price Forecast: Key Factors That Could Propel It To $3 In Early 2026 If 20% of the Hyperliquid token float is repurchased—valued at around $3.5 billion today—the report suggests that the HYPE price could reach $271 at a fully diluted valuation of $125 billion. The projections suggest that if HYPE captures just 1% of the market share annually and maintains consistent trading volumes from CEXs, the price of HYPE could grow substantially. By year 10, the asset manager believes that circulating supply could decrease from 577.2 million to approximately 144.9 million, while the market cap could remain around $16.1 billion based on conservative fee estimates excluding spot and HIP-3 revenues. At the time of writing, Hyperliquid’s native token is trading at $26.49, having recorded major losses of almost 32% over the past month. This represents a 55% gap from the current trading levels and the all-time high of $59.30. Featured image from DALL-E, chart from TradingView.com
The US government wants 1,000 tech workers to boost its capabilities and has turned to the private sector to plug its skill shortages.
Bitcoin price declined further and traded below the $87,000 support zone. BTC is now consolidating and might struggle to clear the $89,350 zone. Bitcoin started a fresh decline below the $87,500 zone. The price is trading below $88,000 and the 100 hourly Simple moving average. There is a bearish trend line forming with resistance at $88,500 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair might continue to move up if it settles above the $89,350 zone. Bitcoin Price Consolidates Losses Bitcoin price struggled to stay above the $89,000 and $88,500 levels. BTC started a fresh decline and traded below the $88,000 support. The price even spiked below the $86,500 support. However, the bulls were active near the $85,000 zone. A low was formed at $85,151 and the price recently started an upside correction. There was a move above the 23.6% Fib retracement level of the downward move from the $93,560 swing high to the $85,151 low. The bears are active near $89,000. Bitcoin is now trading below $88,000 and the 100 hourly Simple moving average. If the bulls remain in action, the price could attempt more gains. Immediate resistance is near the $88,000 level. The first key resistance is near the $88,500 level. There is also a bearish trend line forming with resistance at $88,500 on the hourly chart of the BTC/USD pair. The next resistance could be $89,350 or the 50% Fib retracement level of the downward move from the $93,560 swing high to the $85,151 low. A close above the $89,350 resistance might send the price further higher. In the stated case, the price could rise and test the $90,000 resistance. Any more gains might send the price toward the $91,200 level. The next barrier for the bulls could be $92,000 and $92,500. Another Drop In BTC? If Bitcoin fails to rise above the $88,500 resistance zone, it could start another decline. Immediate support is near the $87,000 level. The first major support is near the $86,500 level. The next support is now near the $85,500 zone. Any more losses might send the price toward the $85,000 support in the near term. The main support sits at $83,500, below which BTC might accelerate lower in the near term. Technical indicators: Hourly MACD – The MACD is now losing pace in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now near the 50 level. Major Support Levels – $85,500, followed by $85,500. Major Resistance Levels – $88,500 and $89,350.
Investors questioned whether Hong Kong’s dominant licensed exchange can turn surging volumes and regulatory advantage into sustainable profits.