Cryptocurrency Live News & Updates : Ethereum Tests Resistance at $3,877 to $3,987
Ethereum (ETH) is encountering a crucial resistance zone between $3,877 and $3,987, with strong support at $3,434, according to on-chain data from Glassnode. Ethereum is currently navigating a significant resistance range between $3,877 and $3,987, as highlighted by on-chain analysis from Glassnode. This resistance zone could trigger selling pressure due to the concentration of ETH holders in this price range. Meanwhile, a solid support level at $3,434 may encourage buyers to step in if prices decline. In related news, a whale investor is contemplating selling 50 WBTC, potentially realizing an impressive profit of $2.404 million after a 15-month hold. Additionally, StablecoinX has emerged as a new player in the market, planning to acquire Ethena and implement a treasury strategy with a substantial $360 million capital raise. This move aims to provide public market investors with access to the Ethena ecosystem. On the NFT front, Fat Penguin NFTs have seen a surge in sales, with a notable 15.6% rise in floor price, driven by whale purchases. Lastly, Michael Saylor warns that Bitcoin availability may become extremely limited in the next decade, urging investors to act swiftly. Show more
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Hindustan Times
15 minutes ago
- Hindustan Times
Five Signs of a Market Bubble Investors Are Tracking
The share price of online house flipper Opendoor Technologies has catapulted some 377% in the past month, despite a stagnant U.S. housing market. One of the biggest stock gainers Tuesday was Kohl's, a department store that has been losing ground to competitors for some time and has replaced its chief executive more than once in recent years. On Wednesday, the crowd favorites were unusual names such as GoPro and Krispy Kreme, with both the camera company and doughnut maker notching eye-popping gains over the week. What's going on? Some investors say the action is the latest phase in what has turned into a near-euphoric rebound from April's tariff turmoil. Since the market tumbled and then turned higher, there has been a stampede into risky assets such as meme stocks, cryptocurrencies and shares of smaller companies that have yet to turn a profit. To some, this resembles a bubble—a period of frenzied market activity and speculation that artificially inflates asset values, driving prices to an eventual breaking point. 'A lot of us thought that the [spring] correction had to do with the fact that valuations were rather stretched back in January and February, yet here we are,' said Ed Yardeni, president of Yardeni Research. 'It's almost like a slow-motion melt-up.' Here's what investors are tracking for signs of froth: Speculative stocks are having a moment The return of YOLO bets recalls the heady days of 2021, when online traders briefly drove the fading mall retailer GameStop to a $24 billion valuation, before rising interest rates brought the bull market to an end. The housing market is stalled, and Opendoor shares traded under $1 earlier this month. They closed Friday at $2.54. The bets on Kohl's center on the potential sale of the company's real-estate holdings, which Wall Street has eyed for years. The stock has still slid more than 70% since the start of 2022. Unprofitability isn't much of an obstacle. Avis and Aeva Technologies, both of which reported net losses in the first quarter, are flying high. Of the 33 stocks in the Russell 3000 that have tripled in price since the market bottom in April, only six have generated profits over the past year, according to a Bespoke Investment Group analysis. Shares of the ARK Innovation ETF, a fund that includes a number of speculative companies operating at a net loss, have climbed more than 36% year to date. 'That in itself is not unhealthy,' Callie Cox, chief market strategist at Ritholtz Wealth Management, said of the rise in speculative trades. 'When you get worried is when cracks start forming in the economy, yet you still have a huge appetite for speculation.' Crypto prices are surging Prices of Ethereum and bitcoin have soared in recent weeks, lifted by the Trump administration's pro-cryptocurrency policies and growing acceptance by mainstream financial institutions. But a new group of buyers has also pushed up prices: publicly traded companies that stockpile bitcoin, effectively transforming their own shares into a leveraged bet on the cryptocurrency. Those include Trump Media & Technology Group, which announced on Monday it had accumulated about $2 billion in bitcoin and bitcoin-related securities as part of a previously announced 'bitcoin treasury strategy.' Critics caution that practice could amplify risks in the crypto market, deepening selloffs. Those warnings haven't deterred an estimated five dozen companies from pursuing similar strategies. Breadth has improved Since stocks returned to their pre-April levels, the daily moves have been small. And the rally has expanded beyond the Magnificent Seven and other tech giants to include financial companies, industrial firms and communication services. The KBW Nasdaq Bank Index has climbed more than 7% over the past month, while shares of GE energy spinoff GE Vernova and advertising tech firm Trade Desk rose more than 20% in the same period. The number of stocks in the benchmark S&P 500 closing above their 50-day moving average is hovering at levels last seen in the fall, before the postelection 'Trump bump' in share prices. Analysts typically consider that kind of improving breadth a sign of a sustainable bull market. Yet stock valuations are stretched. The equity risk premium, defined as the gap between the S&P 500's projected earnings yield and the yield on 10-year Treasurys, is close to zero. That means that the extra return for owning stocks over lower-risk bonds has nearly vanished, which investors consider an unhealthy sign. The economy is holding firm Despite initial concerns that tariffs could kick-start inflation and drag on growth, the U.S. economy has kept chugging along. There are some signs of weakness: The annual inflation rate ticked up in June, as tariffs started to affect consumer prices. One basket of leading economic indicators recently pointed to slower growth in the second half of the year. But the increase in consumer prices has so far been modest, and economists' biggest worry—a sharp slowdown in the labor market—has yet to materialize. Such a shift could turn off the tap on U.S. consumer spending, effectively halting economic growth. Private-sector job growth has fallen to the lowest level in eight months. Hiring has slowed to a trickle, and college graduates are struggling to land roles. 'At a point where the job market is clearly weakening, it's interesting that we're seeing such optimism in markets,' Cox said. 'When the job market starts slowing, it doesn't turn around easily.' Write to Hannah Erin Lang at
Economic Times
an hour ago
- Economic Times
Bitcoin hovers near $120,000; Ethereum jumps over 3% amid strong ETF inflows
Cryptocurrency markets surged, with Bitcoin nearing $120,000 and Ethereum leading altcoin gains, fueled by substantial ETF inflows. Ethereum's impressive performance has sparked talks of an "Ethereum season," potentially triggering broader altcoin rallies. Bitcoin is consolidating below resistance, while analysts eye macroeconomic factors and technical patterns for further upward momentum. Tired of too many ads? Remove Ads Crypto TrackerPowered By TOP COINS TOP COIN SETS BNB 73,887 ( 7.2 %) Buy Ethereum 3,36,591 ( 3.13 %) Buy XRP 283.32 ( 2.6 %) Buy Bitcoin 1,02,87,327 ( 0.66 %) Buy Tether 86.52 ( -0.02 %) Buy The cryptocurrency market traded higher on Monday, with Bitcoin inching closer to the $120,000 mark and Ethereum leading gains among of 12:15 pm IST, Bitcoin was up 1% at $119,493, while Ethereum surged 3.5% to $3,914, according to data from CoinMarketCap. The overall crypto market capitalisation rose 1.74% to $3.97 continued to outperform Bitcoin, adding to its recent strong performance. 'ETH jumped another 3.5% today, touching $3,900 and adding to its 59% surge over the past month,' said Shivam Thakral, CEO of BuyUcoin. 'Big money is pouring into Ethereum, with ETF inflows topping $2.2 billion last week—actually outpacing Bitcoin's numbers.'The bullish trend in Ethereum, backed by growing institutional interest, is prompting some market watchers to call this period an "Ethereum season" – a trend that has historically triggered rallies in other altcoins as altcoins also traded higher on Monday. BNB gained 6.7%, Avalanche 5%, Solana 3.3%, Dogecoin 2.6%, XRP 2.4%, Cardano 2%, and Chainlink 2.7%.Despite its recent rally, Bitcoin remains just shy of breaking above the $120,000 resistance level. 'Bitcoin continues to hover just shy of the $120,000 mark, catching its breath after bouncing back from its latest pullback,' Thakral said. Key support levels are currently at $116,411 and $115,000, while the next major resistance stands around $138, to Piyush Walke, Derivatives Research Analyst at Delta Exchange, 'Bitcoin has traded between $118,000 and $120,000 over the past two days. Momentum indicators like MACD and ADX are still positive, but overbought signals from Stochastic and Williams %R hint at potential short-term consolidation.'Sathvik Vishwanath, Co-Founder and CEO of Unocoin, noted that institutional inflows via ETFs remain a strong bullish driver. 'Bitcoin is consolidating just below $120K, forming a bullish cup-and-handle pattern,' he said. 'But strong overhead supply limits a breakout. If BTC manages to hold this range and volume picks up, a surge toward $130K is likely.'The recent price movement has also been supported by macroeconomic developments. Harish Vatnani, Head of Trade at ZebPay, said Bitcoin's rally above $119,000 coincided with easing geopolitical tensions after the U.S. and China agreed to delay mutual trade tariffs.'Bitcoin is now eyeing a daily close above its 10-day moving average, after rebounding from the $114,500 zone,' Vatnani added. He also pointed out that BTC recently made a new all-time high of $123,218 before pulling back to its current range between $120,500 and $115,500, where it's forming a potential bullish flag pattern. A breakout above $125,000 could lead to another leg up.: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
Time of India
2 hours ago
- Time of India
Bitcoin hovers near $120,000; Ethereum jumps over 3% amid strong ETF inflows
The cryptocurrency market traded higher on Monday, with Bitcoin inching closer to the $120,000 mark and Ethereum leading gains among altcoins. As of 12:15 pm IST, Bitcoin was up 1% at $119,493, while Ethereum surged 3.5% to $3,914, according to data from CoinMarketCap. The overall crypto market capitalisation rose 1.74% to $3.97 trillion. Explore courses from Top Institutes in Please select course: Select a Course Category others Leadership Artificial Intelligence healthcare Project Management Data Science Management Degree CXO Technology MCA PGDM Cybersecurity Finance Product Management Design Thinking Data Science Others MBA Digital Marketing Operations Management Skills you'll gain: Duration: 16 Weeks Indian School of Business CERT - ISB Cybersecurity for Leaders Program India Starts on undefined Get Details Skills you'll gain: Duration: 16 Weeks Indian School of Business CERT - ISB Cybersecurity for Leaders Program India Starts on undefined Get Details Ethereum continued to outperform Bitcoin, adding to its recent strong performance. 'ETH jumped another 3.5% today, touching $3,900 and adding to its 59% surge over the past month,' said Shivam Thakral, CEO of BuyUcoin. 'Big money is pouring into Ethereum, with ETF inflows topping $2.2 billion last week—actually outpacing Bitcoin's numbers.' Crypto Tracker TOP COIN SETS DeFi Tracker 4.10% Buy NFT & Metaverse Tracker 2.06% Buy Web3 Tracker 1.27% Buy Crypto Blue Chip - 5 1.13% Buy AI Tracker -5.32% Buy TOP COINS (₹) BNB 73,887 ( 7.22% ) Buy Ethereum 336,659 ( 3.03% ) Buy XRP 284 ( 2.54% ) Buy Bitcoin 10,293,277 ( 0.68% ) Buy Tether 87 ( -0.01% ) Buy The bullish trend in Ethereum, backed by growing institutional interest, is prompting some market watchers to call this period an "Ethereum season" – a trend that has historically triggered rallies in other altcoins as well. Did you Know? The world of cryptocurrencies is very dynamic. Prices can go up or down in a matter of seconds. Thus, having reliable answers to such questions is crucial for investors. View Details » Major altcoins also traded higher on Monday. BNB gained 6.7%, Avalanche 5%, Solana 3.3%, Dogecoin 2.6%, XRP 2.4%, Cardano 2%, and Chainlink 2.7%. Despite its recent rally, Bitcoin remains just shy of breaking above the $120,000 resistance level. 'Bitcoin continues to hover just shy of the $120,000 mark, catching its breath after bouncing back from its latest pullback,' Thakral said. Key support levels are currently at $116,411 and $115,000, while the next major resistance stands around $138,000. According to Piyush Walke, Derivatives Research Analyst at Delta Exchange, 'Bitcoin has traded between $118,000 and $120,000 over the past two days. Momentum indicators like MACD and ADX are still positive, but overbought signals from Stochastic and Williams %R hint at potential short-term consolidation.' Sathvik Vishwanath, Co-Founder and CEO of Unocoin, noted that institutional inflows via ETFs remain a strong bullish driver. 'Bitcoin is consolidating just below $120K, forming a bullish cup-and-handle pattern,' he said. 'But strong overhead supply limits a breakout. If BTC manages to hold this range and volume picks up, a surge toward $130K is likely.' The recent price movement has also been supported by macroeconomic developments. Harish Vatnani, Head of Trade at ZebPay, said Bitcoin's rally above $119,000 coincided with easing geopolitical tensions after the U.S. and China agreed to delay mutual trade tariffs. 'Bitcoin is now eyeing a daily close above its 10-day moving average, after rebounding from the $114,500 zone,' Vatnani added. He also pointed out that BTC recently made a new all-time high of $123,218 before pulling back to its current range between $120,500 and $115,500, where it's forming a potential bullish flag pattern. A breakout above $125,000 could lead to another leg up. ( Disclaimer : Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
