Bitcoin price is trimming gains and trading below $120,000. BTC is now showing some bearish signs and might decline below $115,500 zone. Bitcoin started a downside correction below the $120,000 zone. The price is trading below $118,000 and the 100 hourly Simple moving average. There was a break below a key declining channel with support at $116,200 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair might start another increase if it clears the $118,500 resistance zone. Bitcoin Price Dips Further Bitcoin price traded to a new all-time high near $124,000 and started a fresh decline. BTC gained bearish momentum and traded below the $120,000 support zone. There was a move below the $118,500 support zone and the 100 hourly Simple moving average. Besides, there was a break below a key declining channel with support at $116,200 on the hourly chart of the BTC/USD pair. The pair tested the $115,800 zone. It is now consolidating losses below the 23.6% Fib retracement level of the recent decline from the $124,420 swing high to the $115,800 low. Bitcoin is now trading below $118,000 and the 100 hourly Simple moving average. Immediate resistance on the upside is near the $116,850 level. The first key resistance is near the $118,000 level. The next resistance could be $118,500. A close above the $118,500 resistance might send the price further higher. In the stated case, the price could rise and test the $119,200 resistance level. Any more gains might send the price toward the $120,000 level or the 50% Fib retracement level of the recent decline move from the $124,420 swing high to the $115,800 low. The main target could be $121,500. More Losses In BTC? If Bitcoin fails to rise above the $118,000 resistance zone, it could start a fresh decline. Immediate support is near the $115,800 level. The first major support is near the $115,000 level. The next support is now near the $113,500 zone. Any more losses might send the price toward the $112,500 support in the near term. The main support sits at $110,000, below which BTC might continue to move down. Technical indicators: Hourly MACD – The MACD is now gaining pace in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level. Major Support Levels – $115,800, followed by $115,000. Major Resistance Levels – $118,000 and $118,500.
Charles O. Parks III, who admitted to misusing $3.5 million worth of resources from two cloud computing providers to mine crypto, was sentenced to one year and one day in prison.
XRP is moving in tandem with the broader crypto trend and has managed to hold above the $3 price level. According to a recent technical analysis by popular crypto chartist Egrag Crypto, XRP’s price action is about to enter a critical stage that will push it well above double digits. Its monthly Relative Strength Index (RSI) is currently playing out what he calls the “Cycle of Three,” which projects an incoming explosive phase. Major Pump, Correction, And Blow-Off Top Egrag’s framework is built around a repeating pattern that’s always taking place on XRP’s monthly RSI indicator. According to his analysis, the first stage of the cycle historically delivers a major RSI pump, followed by the second stage, where corrections set in, and then a third stage that has consistently played out as a blow-off top. Related Reading: XRP Chatter Reaches Ride-Share Drivers — Small Survey Shows Mixed Results Both Cycle 1 and Cycle 2, which took place during the XRP rallies of 2017 and 2021, respectively, exhibited the same sequence, although with varying levels of intensity. The 2017 rally was much greater than the 2021 rally, which was suppressed by the Ripple lawsuit at the time. As such, the 2021 RSI pattern was much less pronounced, but it followed the same sequence nonetheless. The current setup, which is marked as Cycle 3 in the chart below, has already seen the pump and correction phases completed. What remains, according to the analyst, is the third stage. This is the push to an RSI blow-off top that could send the price of XRP into new territories. Egrag Crypto predicted three possible targets of 80, 87, and an ambitious 97 for XRP’s monthly RSI peak in the current cycle. These numbers are derived from the RSI trajectory observed in the last two cycles and projected onto today’s XRP RSI conditions. Image From X: Egrag Crypto What Does This Mean For XRP’s Price? If XRP’s monthly RSI reaches levels such as 80, 87, or even 97, it would be one of the strongest overbought signals in the asset’s history. The last time XRP’s monthly RSI crossed above 90 was during the 2017 bull run, which saw XRP’s price explode from less than $0.1 to its then all-time high of $3.40. Related Reading: Trump Coin Jumps 10% On Canary Capital ETF Filing: Details In technical terms, an RSI above 70 means that an asset is trading at overheated levels, but in bull markets, these conditions can persist for extended periods during price rallies. For XRP, such elevated RSI readings would likely coincide with new all-time highs that mirror those seen in the 2017 bull run. Realistically, this could see the XRP price break above its newly established all-time high of $3.65 and into $4, $5, and beyond into double digits. XRP RSI reaching above 90 could also serve as a warning that the price may already be at a new multi-year top. At the time of writing, the monthly XRP RSI was at a 73 reading. XRP was trading at $3.12. Featured image from Pexels, chart from TradingView
The Bitcoin price appeared to have resumed its bull run as it ran up to a new all-time high on Thursday, August 14. However, this positive momentum was short-lived, as the premier cryptocurrency crashed from the unprecedented high of $124,000 down to around $118,000. The Bitcoin price has struggled to reignite this bullish run over the weekend, hovering in and around the $118,00 level for the majority of Saturday, August 16. The latest on-chain data suggests that this price sluggishness might persist over the next few weeks. Bitcoin Netflow On Binance Turns Positive As Selling Pressure Persists In a Quicktake post on the CryptoQuant platform, pseudonymous on-chain analyst BorisVest revealed that the Bitcoin price could experience selling pressure over the next one to two weeks. This projection is based on the flow of coins on Binance, the world’s largest cryptocurrency exchange by trading volume. Related Reading: Bitcoin 30-Day CDD Down: Market Absorbs LTH Selling Without Breaking Support The relevant indicators here include the Bitcoin Netflow and Exchange Reserve metrics, both of which measure the amount of coins that enter or leave a cryptocurrency exchange. According to data from CryptoQuant, Bitcoin netflow has turned positive while outflows have reduced on the Binance exchange. BorisVest mentioned that this trend suggests that Bitcoin is in a distribution phase, especially on Binance, leading to the current high volatility in the market. The analyst explained that this might have played a role in the short-lived momentum faced by the Bitcoin price during its last run-up to the all-time high. BorisVest noted that the exchange reserves on Binance continued to rise as the Bitcoin price soared to a new all-time high, indicating that investors sent their coins to the exchange to be sold for profit. “The missing component was buyers; once price reached the peak and demand kicked in, selling pressure accelerated,” the on-chain analyst added. Furthermore, BorisVest highlighted that the Perpetual-Spot Price Gap showed the presence of aggressive buyers, creating an ideal environment for distribution. According to the online pundit, Binance whales took the opportunity to sell, with buyers in position. BorisVest mentioned that Binance’s significant trading volume plays a crucial role in why and how the exchange’s activity influences the crypto market. Hence, Binance whales offloading as new buyers enter tends to put substantial selling pressure on the Bitcoin price. The on-chain concluded that while the broader upward trend remains in play, the Bitcoin price is likely to continue to experience selling pressure over the next one to two weeks. Bitcoin Price At A Glance As of this writing, BTC is valued at around $117,490, reflecting an almost 1% price jump in the past 24 hours. Related Reading: Institutions Buying The Bitcoin Dip? Coinbase Premium Shoots Up Featured image from IStock, chart from TradingView
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Ethereum is about to enter into a new week, coming off of a week of interesting price action that saw it trading at its highest price levels since 2021. On one hand, the Spot Ethereum ETFs that had driven billions in inflows have just recorded their first daily outflow in over a week. On the other hand, order-book data shows a towering sell wall at $4,800 that could be described as Ethereum’s “final boss,” the level that could unlock a parabolic run if broken. Related Reading: XRP Chatter Reaches Ride-Share Drivers — Small Survey Shows Mixed Results ETF Inflows Break: Sentiment Cooling Down? The optimism around Ethereum’s rally cooled just as the week came to a close. Notably, US-based Spot ETH ETFs reported net outflows of $59.34 million on August 15, effectively ending an eight-day streak that had added $3.7 billion in inflows. The reversal came just as Ethereum failed to clear $4,788, a level within 3% of its all-time high of $4,878, before slipping back to about $4,450. Although BlackRock’s ETHA stood out with $338.09 million in daily inflows, Grayscale’s ETHE and Fidelity’s FETH registered notable withdrawals of $101.74 million and $272.23 million. Total Ethereum Spot ETF Net Inflow: SoSoValue Speaking of Ethereum failing to clear $4,788, on-chain data shows a huge cluster of liquidity around this level. Particularly, Merlijn The Trader described the $4,800 as the “final boss” for ETH, pointing to billions in sell orders stacked at that level on Binance’s ETH/USDT pair. A liquidity heatmap shows a massive concentration of asks in this zone. According to the analyst, breaking above this level could unleash open skies for Ethereum. As long as this level is filled with more asks, there’s a possibility of it acting as a resistance for any upward move. However, clearing this fortress with enough buy volume would not just be a technical breakout but a psychological one, with the potential to push its price to new all-time highs. Image From X: Merlijn The Trader Bearish Retracement Scenario Although the liquidity narrative is currently leaning more towards a bullish breakout than bearish, another analysis from TradingView paints a more cautious picture. The analysis, which is based on the 4-hour candlestick timeframe chart, also identifies the $4,700 to $4,800 region as a supply-heavy resistance where Ethereum has already shown signs of exhaustion after an aggressive rally from early August. However, multiple technical alignments, such as Break of Structure signals, fair value gaps (FVG), and Fibonacci retracements, show that Ethereum may be due for a retracement. The trade plan outlined anticipates an entry around $4,440, with a stop loss above $4,790 and a downside target of $3,375 at a strong support area. This would imply a corrective move of over 20% if the bearish projection plays out. Chart Image From TradingView Related Reading: Trump Coin Jumps 10% On Canary Capital ETF Filing: Details At the time of writing, Ethereum was trading at $4,465. Featured image from Unsplash, chart from TradingView
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The Bitcoin price has been on an interesting trajectory over the past few weeks, setting new all-time highs along the way. More recently, the premier cryptocurrency surged to a new all-time high above the $124,100 mark. The Bitcoin price has since succumbed to significant bearish pressure, hovering around the $118,000 region for most of the weekend. A prominent crypto trader on the social media platform X has identified levels that could be pivotal to the coin’s future trajectory. $117,500 And $114,500 Are Next Support Levels: Glassnode Data In a recent post on the X platform, crypto analyst Ali Martinez pinpointed two support levels that could prove crucial to the Bitcoin price’s movements over the next few days. This evaluation is based on the cost-basis distribution of the Bitcoin supply. Related Reading: Bitcoin Under Pressure? Rising Exchange Inflows Signal Potential Supply Build-Up Martinez highlighted the cost basis distribution (CBD) metric, which looks at the average cost basis of the total Bitcoin supply within various price brackets. As observed in the chart below, the CBD metric utilizes a heatmap with fixed price bracket levels (on the vertical axis) over a specific period (on the horizontal axis). The CBD chart shows that there is a significant cluster of investor cost-basis distribution around the $117,500 and $114,500 Bitcoin price levels. This basically indicates the presence of several investors who likely purchased their coins around these price regions. According to data from Glassnode, 72,900 BTC and 56,201 BTC were acquired from around the $117,500 and $114,500 levels, respectively. Martinez earmarked these $117,500 and $114,500 levels as the next critical support zones for the market leader. These price regions could act as support cushions because investors—who have been in the green—are likely to defend their positions by buying more coins when the Bitcoin price returns to their cost bases; and this fresh buying activity could then help keep the price afloat. It is worth mentioning that the Bitcoin price could be at risk of a severe correction if it breaks beneath the $114,500 support, as no major price cushion seems to be in sight. Bitcoin Price Overview As of this writing, the price of BTC stands at around $117,600, reflecting no significant movement in the past 24 hours. This past-day action mirrors the current indecisiveness in the world’s largest market. According to CoinGecko data, the flagship cryptocurrency is up by a mere 0.7% in the last seven days. Related Reading: XRP Price Could Be Headed To New All-Time Highs Due To These Factors Featured image created by Dall-E, chart from TradingView
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Bitcoin’s price rally has hit turbulence over the past 48 hours, and this has opened the door for bearish voices to resurface. After reaching a fresh high of $124,128 just three days ago, the leading cryptocurrency has since declined by about 4.8%, sliding back to the $117,000 to $118,000 price zone at the time of writing. This pullback has opened up a possibility that the much-anticipated macro top may already be in, and further downside may be possible if there is a lack of bullish momentum. Related Reading: Trump Coin Jumps 10% On Canary Capital ETF Filing: Details Analyst Maps Out Bearish Bitcoin Wave Structure Bitcoin showed signs of building on in early August after bouncing off a low around $112,000. However, after its latest high at $124,128, sellers quickly stepped in, pulling the price down. The decline has been accompanied by fading short-term momentum. Although it might be too early to conclude, relative strength index (RSI) readings are starting to point to a bearish divergence on the 4-hour candlestick timeframe chart. Taking to the social media platform X, crypto analyst CasiTrades outlined what they believe could be the start of a larger ABC corrective structure for Bitcoin. According to the projection, Bitcoin may be entering Wave A, which consists of a five-wave corrective structure that could send the price to as low as $77,000 at the macro 0.382 Fibonacci retracement. The roadmap of this price crash envisions an initial Wave 1 drop to $112,000, a brief Wave 2 recovery back to $120,000, and then another Wave 3 decline into the $89,000 range. After this, the next step is a Wave 4 retest break of $100,000 before reversing into Wave 5, which brings the ultimate Wave A bottom at $77,000. Chart Image From X: CasiTrades The accompanying chart posted by the analyst shows the wave counts with subwave precision. Interestingly, the analyst also pointed out that the ultimate macro target for the end of this correction is at $60,000, right at the golden 0.618 Fibonacci retracement. This is at the macro level and can only come to fruition if the ABC corrective waves play out to completion. A Bearish Tone Amidst Bullish Predictions This analysis introduces a sobering counterpoint at a time when many forecasts continue to paint Bitcoin as being on track for $150,000 and beyond. Even though strong institutional inflows and technical milestones, such as the realized price flipping above the 200-day moving average are bullish indicators, the bearish scenario from CasiTrades could still be valid. If Bitcoin fails to reclaim bullish momentum, the current correction could change into something deeper, making the $124,000 high not just a pause but the macro top of this cycle. Related Reading: XRP Chatter Reaches Ride-Share Drivers — Small Survey Shows Mixed Results Although many cryptocurrencies have largely followed Bitcoin’s movements this cycle, CasiTrade’s analysis isn’t a bearish case for the entire crypto market. According to the analyst, if this bearish case plays out, it could cause the long-discussed capital rotation out of Bitcoin and into large-cap altcoins, some of which may surge to new all-time price highs even as Bitcoin retraces. At the time of writing, Bitcoin was trading at $118,203. Featured image from Unsplash, chart from TradingView
The latest Bitcoin bull run feels different. Scratch that. Every bitcoin bull run feels different, as each cycle brings with it fresh narratives and new blood. But there’s one element that’s always been consistent throughout Bitcoin’s history, and that’s retail interest in buying into freedom tech and f**k you money. Well, Bitcoin to the moon […]
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Bitcoin steadied near $118,000 on Sunday, though analysts Lark Davis and Michaël van de Poppe warned of deeper corrections and choppy trading ahead.
Bitcoin’s smaller cousin, XRP, has drawn fresh bullish bets after it held above the $3 mark in July. According to trading charts and public commentary, the token first pierced $3 in January 2025 — its highest point in seven years — then pulled back before reclaiming that level in mid-July. Related Reading: Trump Coin Jumps 10% On Canary Capital ETF Filing: Details The comeback has some analysts reading the move as a change in market structure, and price sits near $3.12 as momentum checks continue. Trendline Breakouts And Support Flip According to analyst Steph, a breakout above a long-running descending trendline on the weekly XRP chart is what matters now. Steph points to the flip of $3 from resistance into support as a classic technical cue. He used historical weekly charts to argue that past breakouts from similar trendlines often led to strong rallies, and he highlighted that pattern going back to 2022 when price action began to shift more visibly. This is the hardest #XRP bull market ever. Congratulations if you’re still here. We will get rich! pic.twitter.com/cLltUs7MQj — STEPH IS CRYPTO (@Steph_iscrypto) August 12, 2025 A Pattern Seen Several Times Since 2022 Reports have traced the same setup across multiple cycles. After the Terra collapse in May 2022, XRP fell and formed a descending trendline that broke in September 2022, sending price to a high near $0.55. Later, a new trendline formed and then broke around the SEC vs. Ripple ruling in July 2023, which preceded a move toward $0.94. The most recent big run took XRP to about $3.4 in January 2025, after a breakout following the November 2024 US elections. Those episodes form the backbone of the “repeat pattern” case. Analyst Targets And Differing Calls Steph projects a potential rise to $14 from roughly $3.12 now, which would equal about a 340% gain. According to his messaging, some traders who sold early took profits, while others who held could see larger returns if the thesis plays out. Based on reports, some commentators have voiced similar targets, saying when XRP traded near $2, that the token was poised for a major breakout and pointed to Fibonacci levels toward $14, while others put a $14 minimum target on the table last March. Related Reading: XRP Chatter Reaches Ride-Share Drivers — Small Survey Shows Mixed Results What To Watch Going Forward Volume on any push above recent highs will tell the story. Keep an eye on whether $3 stays as support and whether the weekly breakout holds as price moves higher. Also watch how long consolidation around $2 lasted — more than five months — because long flat bases can precede sharp moves if buyers return in force. Derivatives flows and where large holders place sell orders will matter too. Featured image from Unsplash, chart from TradingView
A few years after telling Terra/Luna investors that their funds were safe, Kwon admitted to misleading them.
Welcome to Slate Sundays, CryptoSlate’s new weekly feature showcasing in-depth interviews, expert analysis, and thought-provoking op-eds that go beyond the headlines to explore the ideas and voices shaping the future of crypto. Would you take a drug that had a 25% chance of killing you? Like a one-in-four possibility that rather than curing your ills or […]
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XRP price could drop by over 20% in the coming weeks due to multiple onchain indicators hinting at a local top formation.
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