Latest news with #AugustineFan
Yahoo
8 hours ago
- Business
- Yahoo
Bitcoin, Dogecoin, Ether Could See Profit-Taking Even as Macro Conditions Improve
Bitcoin BTC held firm above $107,000 on Thursday, but signs of fatigue are beginning to surface across the broader crypto market as majors show early signs of profit-taking. Dogecoin DOGE was down nearly 4% at 19 cents, while Tron's TRX TRX slipped 5.5% to 27 cents. XRP XRP, BNB Chain's BNB BNB, Solana's SOL SOL, and Cardano's ADA ADA showed losses as much as 3%. Ether ETH, which outperformed BTC last week amid a surge in ETF inflows and bullish derivatives activity, also showed signs of cooling off after briefly topping $2,800. While the sentiment remains largely positive, multiple tokens are now hovering near local resistance levels, prompting cautious traders to lock in gains. Traders say the broader backdrop remains constructive. Momentum is quietly building across crypto markets, with underlying structural shifts catching the smart money's attention. 'Mainstream sentiment on crypto has turned around noticeably, especially on the back of Circle's successful IPO, with Gemini and Bullish having filed their own listing intentions with the SEC recently,' said Augustine Fan, Head of Insights at SignalPlus, in a Telegram message. 'BTC treasury plays have also been in vogue with a seemingly endless stream of companies looking to copy the MSTR playbook, not to mention the stablecoin excitement both in TradFi and onchain (e.g., Plasma)," he said. Macroeconomic developments may also be playing a role. Progress on U.S.-China trade talks and a softening inflation print have created a more favorable outlook for risk assets, some say, bolstering sentiment across equity and digital asset markets. 'The U.S.-China deal progress and softer CPI data are encouraging signs for global markets, easing inflationary pressures and creating a more stable economic outlook,' said Jeffrey Ding, Chief Analyst, HashKey Group, in a Telegram message. 'We're optimistic that digital assets will continue to grow as macroeconomic influences find resolution while institutions further integrate within the industry,' Ding added. Kraken economist Thomas Perfumo mirrored that institutional angle. 'The broad rally in crypto markets reflects its evolving role as a macro hedge amid rising real yield volatility and growing concerns over fiscal deficits,' Perfumo said in an email to CoinDesk. 'We're witnessing a virtuous cycle: the adoption of structural bid vehicles like spot ETFs — particularly within a more favorable U.S. regulatory environment — is absorbing supply far faster than anticipated,' he added.
Yahoo
12 hours ago
- Business
- Yahoo
Bitcoin, Dogecoin, Ether Could See Profit-Taking Even as Macro Conditions Improve
Bitcoin BTC held firm above $107,000 on Thursday, but signs of fatigue are beginning to surface across the broader crypto market as majors show early signs of profit-taking. Dogecoin DOGE was down nearly 4% at 19 cents, while Tron's TRX TRX slipped 5.5% to 27 cents. XRP XRP, BNB Chain's BNB BNB, Solana's SOL SOL, and Cardano's ADA ADA showed losses as much as 3%. Ether ETH, which outperformed BTC last week amid a surge in ETF inflows and bullish derivatives activity, also showed signs of cooling off after briefly topping $2,800. While the sentiment remains largely positive, multiple tokens are now hovering near local resistance levels, prompting cautious traders to lock in gains. Traders say the broader backdrop remains constructive. Momentum is quietly building across crypto markets, with underlying structural shifts catching the smart money's attention. 'Mainstream sentiment on crypto has turned around noticeably, especially on the back of Circle's successful IPO, with Gemini and Bullish having filed their own listing intentions with the SEC recently,' said Augustine Fan, Head of Insights at SignalPlus, in a Telegram message. 'BTC treasury plays have also been in vogue with a seemingly endless stream of companies looking to copy the MSTR playbook, not to mention the stablecoin excitement both in TradFi and onchain (e.g., Plasma)," he said. Macroeconomic developments may also be playing a role. Progress on U.S.-China trade talks and a softening inflation print have created a more favorable outlook for risk assets, some say, bolstering sentiment across equity and digital asset markets. 'The U.S.-China deal progress and softer CPI data are encouraging signs for global markets, easing inflationary pressures and creating a more stable economic outlook,' said Jeffrey Ding, Chief Analyst, HashKey Group, in a Telegram message. 'We're optimistic that digital assets will continue to grow as macroeconomic influences find resolution while institutions further integrate within the industry,' Ding added. Kraken economist Thomas Perfumo mirrored that institutional angle. 'The broad rally in crypto markets reflects its evolving role as a macro hedge amid rising real yield volatility and growing concerns over fiscal deficits,' Perfumo said in an email to CoinDesk. 'We're witnessing a virtuous cycle: the adoption of structural bid vehicles like spot ETFs — particularly within a more favorable U.S. regulatory environment — is absorbing supply far faster than anticipated,' he added.
Yahoo
2 days ago
- Business
- Yahoo
What Next as Ether Zooms 7%, DOGE Leads Majors Gains Amid Bitcoin Euphoria
Ether posted a sharp 7% gain in the past 24 hours as bitcoin's steady climb past $109,000 boosted an otherwise flat crypto market. Dogecoin added over 5% to trade near 19 cents as of Asian afternoon hours Tuesday, while Cardano's ADA rose more than 5% as risk appetite returned after last week's volatility. Overall market capitalization rose more than 3%, with the broad-based CoinDesk 20 (CD20) adding 4%. The rebound came as traders continued to digest the latest US-China trade developments and braced for key inflation data this week that could set the tone for interest rate expectations. 'Bitcoin surged to around $110K as US-China trade talks resumed while the SEC greenlights new crypto ETFs, giving investors a renewed bullish sentiment,' said Augustine Fan, Head of Insights at SignalPlus, in an email to CoinDesk. 'We anticipate a continuation of the bullish trends as crypto attracts more institutions and retail investors with innovations and competitive returns.' Kay Lu, CEO of HashKey Eco Labs, said the market's reaction to the Trump-Musk spat last week may have been overdone. 'We're seeing some market recovery as fundamentals remain strong,' Lu said. 'The CPI data on Wednesday could be a key catalyst for price moves.' Meanwhile, Jeff Mei, COO at BTSE, warned that the current cycle may not be straightforward. 'We're seeing more options for investors to get crypto exposure, whether through ETFs, corporate treasuries, or stablecoin issuers,' Mei said. 'This cycle will be more nuanced as crypto matures as a macro asset class.' Nick Ruck, director at LVRG Research, noted that Bitcoin's price action above $109,000 showed resilience in the face of mixed signals. 'Bitcoin's climb amid geopolitical and macro headwinds reinforces its standing as a macro asset class,' Ruck said. 'ETF momentum has put crypto back on the radar for mainstream investors.'
Yahoo
21-05-2025
- Business
- Yahoo
Ether Surges 8%, Bitcoin Nears $106K as Crypto Bulls Take Charge
Crypto markets extended their climb with ether (ETH) jumping 8% and bitcoin (BTC) inching back toward the $106,000 mark in the past 24 hours, despite broader risk-off sentiment in equities and gold. The resilience is in contrast to Friday's surprise credit downgrade of the U.S. by Moody's, which cited persistent fiscal deficits and political gridlock. Yet while equities sagged and gold extended its recent decline, falling nearly 7% from May highs, bitcoin held ground and even rallied briefly to $107,000 late Sunday before retracing. 'Bitcoin's ability to rally over the weekend despite a risk-off tone in equities following the Moody's downgrade reinforces its positioning as a legitimate store of value,' QCP Capital said in a Telegram broadcast late Monday. The firm pointed to consistent inflows into spot bitcoin ETFs and institutional demand as catalysts, even as derivatives markets saw some leveraged long liquidations. Ether was among the standout movers, surging past $2,900 in a strong follow-through move from last week's breakout. The token's recent strength has been tied to renewed interest in Ethereum staking flows and positive sentiment following the Pectra upgrade — though no new headline catalyst emerged on Monday. Solana's SOL, XRP, BNB Chain's BNB and dogecoin (DOGE) rose between 2-4%, with the broad-based CoinDesk 20 (CD20) adding just under 2% in the past 24 hours. Meanwhile, Aave's AAVE tokens soared over 25% in the past 24 hours, though the move appeared largely speculative. No protocol-level announcement or governance proposal was immediately tied to the jump. The token is still down over 60% from its 2021 highs. Traders say the decoupling between bitcoin and traditional 'hard assets' like gold is worth watching. 'Unlike in previous months where BTC and gold went up in unison, bitcoin has been rising against a drop in spot gold, which is also reflected in ETF flows,' Augustine Fan of SignalPlus said in a message to CoinDesk. 'Gold ETFs saw a notable drop in flows against a small rise in BTC ETFs, with a similar pattern in gold vs BTC futures on CME. We should assume more of these micro-correlation breaks and relative value opportunities to take hold,' Fan ended. Sign in to access your portfolio
Yahoo
16-05-2025
- Business
- Yahoo
XRP Slides 4% as Bitcoin Traders Cautious of $105K Price Resistance
XRP fell over 4% in the past 24 hours, leading losses among major cryptocurrencies as the broader market stalls after last week's sharp rally. Bitcoin continues to hover above $104,000, with traders predicting a steady rise past $105,000, a level now acting as both psychological and technical resistance. The crypto market's total capitalization declined 2% to $3.3 trillion, according to CoinGecko, with majors such as Ethereum (ETH) and Solana (SOL) also pausing near their 200-day moving averages — a region that may either signal consolidation or the start of a short-term pullback. 'Bitcoin has been smoothly forming a top for the past seven days,' said Alex Kuptsikevich, chief market analyst at FxPro. 'This kind of setup typically signals a correction is due, especially when paired with slippage in equities and profit-taking in gold.' The Crypto Fear & Greed Index dipped slightly from 73 to 70, still in 'greed' territory but suggesting momentum has faded. SignalPlus's Augustine Fan said markets may continue to grind higher unless equities roll over, but warned that BTC is likely to struggle against interim resistance at $105,000. He noted Ethereum may benefit more in the near term as part of a broader crypto uptrend, especially with improving inflows and relative strength in altcoins. Fan also reiterated a macro shift in capital allocation that favors crypto. 'We think the 'anti-dollar' ledge is more structural this time around,' he said. 'Investors are increasingly rotating into emerging markets, precious metals, and crypto as a way to hedge geopolitical and currency risk.' BTC's recent rally appears to be fueled by spot market demand, not excessive leverage, according to K33 Research. That undercurrent of buying, especially from retail and Asia-based wealth managers, could help sustain bullish sentiment, even if near-term price action remains range-bound. Nick Ruck of LVRG Research added that the lull in price may stem from caution ahead of upcoming macroeconomic data and concerns about the longer-term impact of recent U.S. trade deals."The lull in activity may stem from anticipated volatility ahead of future macroeconomic and policy reports, along with investor reactions to inflation fears from American consumers that drove less spending in the country last month," Ruck said."Traders are cautiously bullish as the US trade deals push prices higher, but concerns remain about the long-term impact from tariffs after the deals with major trading partners have been finalized," he added. For now, markets are holding their breath just below key breakout levels, with the next decisive move likely to reset direction across the board. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
