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Business Standard
23-05-2025
- Business
- Business Standard
Bitcoin pauses around record high levels; Ethereum, Cordano blaze ahead
The bellwether cryptocurrency Bitcoin (BTC), after a continuous march in price discovery into uncharted territory, appears to take a breather as the price seems to be consolidating around the recent highs. As of 9:54 AM on Friday, May 23, Bitcoin was trading at around $110,886.55, lower by 0.40 per cent, with a 24-hour trading volume of $63.95 billion. Over the past 24 hours, Bitcoin has moved within a range of $110,293.12 to $111,970.17, according to data from CoinMarketCap. Bitcoin's market capitalisation stood at $2.2 trillion, making it the wor;ds largest cryptocurreny by market capitlasions. Bitcoin faces resistance at $112,600 Bitcoin, Alankar Saxena, Co-founder and CTO of Mudrex, said, is stabilising around $111,500 after hitting a new all-time high of $111,970, entering uncharted territory with strong momentum. "Moreover, institutional inflows have helped BTC maintain sustained momentum, with Spot ETFs seeing over $600 million in net inflows in a day. Additionally, the US Dollar Index has dropped more than 2.6 per cent over the last 10 days, making crypto an attractive hedge against inflation," said Saxena. For the flagship currency, Vikram Subburaj, CEO, Giottus Crypto Platform, believes that there are signs of continuation in the short term with $115,000 being the immediate target. "A pullback post this is likely given its overbought conditions, though the rally can extend like in December 2024. Market sentiment continues to strengthen with the Crypto Fear & Greed Index climbing to 78 (Extreme Greed)," said Subburaj. Altcoins trade higher Sentiments were favorable among other cryptocurrencies as well. Ethereum (ETH) was trading higher by 3.52 per cent at $2,713.79, with a trading volume of $26.97 billion. It has traded in the range of $2,603.36 - $2,731.22 in the last 24 hours. Ethereum's market capitalisation stood at $327.18 billion, marking it as the world's second-largest cryptocurrency by market capitalisation. That said, Ethereum is nearly 44 per cent lower from its all-time high of $4,891.70, scaled on November 16, 2021. Among other popular altcoins, Cardano (ADA) was trading higher by 5.33 per cent, followed by Solana (SOL) up 4.69 per cent, Ripple (XRP) up 2.14 per cent, and Binance Coin (BNB) up 0.15 per cent. Meanwhile, the US dollar-linked stablecoin Tether was trading at $0.99, down 0.01 per cent.
Yahoo
16-05-2025
- Business
- Yahoo
Bitcoin, Ethereum, XRP, Dogecoin Down As Sentiment Turns To Greed
Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. Major cryptocurrencies are trading lower in early Thursday hours despite ongoing institutional demand and cooling inflation data. Sentiment has shifted sharply, with the Crypto Fear & Greed Index entering the 'Greed' zone, raising questions whether this pullback signals a phase of profit-taking and consolidation following the robust rally over the past few Price Gains +/- Bitcoin (CRYPTO: BTC) $101,782.26 -1.9% Ethereum (CRYPTO: ETH) $2,537.22 -2.3% Solana (CRYPTO: SOL) $169.23 -5.7% XRP (CRYPTO: XRP) $2.45 -5.6% Dogecoin (CRYPTO: DOGE) $0.2232 -5.2% Shiba Inu (CRYPTO: SHIB) $0.00001484 -7.1% Notable Statistics: IntoTheBlock data shows Bitcoin and Ethereum large transaction volume dropped 5.1% and 0.2%, respectively, in a single day. While ETH shows a 240% rise in exchange netflows, Bitcoin's daily active addresses are down 1.9%. Coinglass data shows 157,967 traders were liquidated in the past 24 hours for $346.93 million. SoSoValue data shows that spot Bitcoin ETFs saw a net inflow of $319.6 million, while spot Ethereum ETFs saw a $63.5 million net inflow. Santiment data shows the daily average of new wallet creations over the past month: Bitcoin leads with 309,000 new wallets per day, followed by Ethereum at 112,000, USDT at 36,400, and XRP with 3,500 daily. According to CoinMarketCap, the Crypto Fear & Greed Index has surged to 71, entering the Greed zone, up sharply from the neutral range (40–60) recorded in early May. Trader Notes: Bitcoin is finding key support around $101,600, according to crypto chart analyst Ali Miss: Trade crypto futures on Plus500 with up to $200 in bonuses — no wallets, just price speculation and free paper trading to practice different strategies. Grow your IRA or 401(k) with Crypto – unlock the power of alternative investments including a Crypto IRA within your retirement account. Meanwhile, trader Adam observed that Bitcoin appears exhausted after its climb to $105,000, with open interest returning to levels seen near previous all-time highs. He notes that spot markets are encountering increased selling pressure, and while the move from $80,000 suggests a solid base, this may not be an optimal time to open new long positions. Martinez also highlighted that Ethereum has closed above its 200-period simple moving average on the 3-day chart, currently around $2,700. Historically, such a close has marked the beginning of major bull rallies for ETH. For Solana, analyst Crypto Zeinab notes that the coin is currently retesting the $180 breakout level. A successful bullish retest could open the path toward $200. Supporting this outlook, Glassnode data shows positive 30-day capital inflows of around 4–5% for SOL after months of outflows, signalling renewed investor interest, now on par with XRP. Bluntz Capital pointed out that Dogecoin is forming a textbook inverse head and shoulders (IHS) pattern. The breakout occurred with strong volume, and the current pullback is seen as a healthy consolidation, potentially setting up for further Next: New to crypto? Get up to $400 in rewards for successfully completing short educational courses and making your first qualifying trade on Coinbase. A must-have for all crypto enthusiasts: Sign up for the Gemini Credit Card today and earn rewards on Bitcoin Ether, or 60+ other tokens, with every purchase. Image: Shutterstock Send To MSN: Send to MSN This article Bitcoin, Ethereum, XRP, Dogecoin Down As Sentiment Turns To Greed originally appeared on 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
Yahoo
15-05-2025
- Business
- Yahoo
Dogecoin, Cardano and Solana Slump as Crypto Majors See Profit-Taking After Week-Long Rally
Major tokens such as dogecoin (DOGE), cardano (ADA), and solana (SOL) slipped more than 5% in the past 24 hours as traders moved to lock in some profits after a strong week-long rally. The broader crypto market surged alongside risk assets last week, fueled by macroeconomic tailwinds and renewed investor optimism, but signs are emerging that some overheated segments may be due for a pause. 'Bitcoin has been hovering around the $104,000 level for the sixth day, experiencing increased rotation,' FxPro's Alex Kuptsikevich told CoinDesk in an email. 'This is quite expected behaviour as we approach the all-time highs of December and January, which served as turning points.' 'Ether is trading around $2615, having failed to consolidate above the $2700 mark, around which the 200-day moving average also passes. It is likely that after rallying 55% over the past seven days, the second-largest capitalised cryptocurrency will probably pause or start a correction with a potential target at $2400,' Kuptsikevich warned. Sentiment indicators also reflect growing exuberance, with the Crypto Fear & Greed Index touching 73, approaching levels typically associated with overheated conditions, as noted Tuesday. Earlier in the week, risk appetite surged after a combination of positive U.S. inflation data, strong earnings from China's tech sector, and a breakthrough U.S.–China trade agreement boosted global equity markets. Crypto followed, with bitcoin briefly topping $104,000 and ether climbing to $2,700 — before both ran into resistance. 'China's tech sector earnings surged in the wake of the US-China trade deal announcement, leading investors to hope for increased investments and innovations like AI last year,' Haiyang Ru, Co-CEO of the HashKey Exchange Business Group, said in a Telegram message. 'Additionally, a monthly report revealed that US inflation was lower than expected, adding more fuel for a continued bull run in the markets,' Ru said. Still, institutional activity remains robust. Santiment data from earlier this week showed mid-sized bitcoin holders, or wallets with 10 to 10,000 BTC, had accumulated over 83,000 BTC in the past month. Meanwhile, Coinbase's upcoming inclusion in the S&P 500 on May 19 is viewed as a short-term catalyst for the sector, with some analysts estimating passive fund demand for the stock could top $9 billion. 'We believe there is further room for digital assets to rally, especially as Coinbase's inclusion into the S&P 500 on 19 May draws closer,' Singapore-based QCP Capital said in a Telegram broadcast late Wednesday. 'History tells us that index inclusion tends to act as a short-term catalyst, as passive managers adjust their allocations to track the benchmark more closely,' the fund noted. Sign in to access your portfolio
Yahoo
05-05-2025
- Business
- Yahoo
As Markets Churned, Bitcoin Surged. Here's What Could Happen Next.
Bitcoin is now up 15% over the past 30 days, and is close to regaining the $100,000 price level. Macroeconomic data and the current tariff situation will heavily influence investor sentiment about Bitcoin over the short run. Historically, Bitcoin has followed four-year cycles that are punctuated by periods of extreme boom and bust. Something completely unexpected happened with Bitcoin (CRYPTO: BTC) in April. After falling precipitously in February and March, the cryptocurrency suddenly began surging and is now up 15% over the past 30 days. For Bitcoin investors, the big question is whether this mini-rally is going to last through 2025 or whether it will dissipate once the new tariffs really begin to kick in. With that in mind, here's a look at possible scenarios for Bitcoin this year. Where to invest $1,000 right now? Our analyst team just revealed what they believe are the 10 best stocks to buy right now. Continue » Let's start with the bull-case scenario for Bitcoin. This scenario assumes that the worst of the tariff situation is behind us. If you buy into the messaging coming out of the White House, then trade deals with India, Japan, and South Korea could be coming soon. That would set the stage for some kind of grand rapprochement with China and a flurry of other trade deals around the world. Once that happens, it could be off to the races for Bitcoin. Ever since February, Bitcoin has struggled to regain the $100,000 level. However, with greater optimism about U.S. economic growth this year, risk-averse investors might start to pile back into crypto, and that could lead to Bitcoin soaring to another all-time high. The two primary variables here are spot Bitcoin ETF inflows and overall investor sentiment, as measured by the Crypto Fear & Greed Index. Generally speaking, we need to see Bitcoin ETF inflows surging and the Crypto Fear & Greed Index (which is measured on a scale of 0-100) moving to 80 or higher, as it was after the election. Thus far, that hasn't happened. For example, the Fear & Greed Index currently sits at 51, which is just about as neutral as you can possibly get. In a bear-case scenario, all the talk about new trade deals turns out to be a mirage. Consumer confidence weakens, economic growth slows, empty store shelves start to appear, prices soar, and people start talking about the "R" word (recession). Against this backdrop, Bitcoin still has the potential to rally. But this is only if investors begin to lose confidence in the U.S. dollar and start to move their money into Bitcoin as a potential safe-haven asset. Already, investors have started to talk about Bitcoin as "digital gold." If the economic situation deteriorates significantly, then the Federal Reserve might need to step in and lower interest rates in order to provide a much-needed stimulus. Historically, the lowering of interest rates has been beneficial for crypto, and this could also help to push Bitcoin higher. So, even in a bear-case scenario, Bitcoin might still rally. The primary variable to watch here is Bitcoin's performance compared to gold. This will be the best possible indicator of whether or not investors are really beginning to view Bitcoin as "digital gold." In theory, the performance gap between gold and Bitcoin in 2025 should begin to narrow. If gold continues to hit new all-time highs, then Bitcoin should start hitting new all-time highs as well. Thus far, I've primarily focused on macroeconomic factors and how they influence investor sentiment about Bitcoin. But it's also important to take into account the historical performance of Bitcoin, which tends to follow fairly predictable four-year cycles that are punctuated by periods of boom and bust. While it can be more of an art than a science to figure out where we are in any Bitcoin cycle, the conventional wisdom is that the starting point of any "boom" period is the most recent Bitcoin halving date. In this case, the most recent halving took place in April 2024. Depending on whom you talk to, the "boom" period following any halving lasts anywhere from 12 to 18 months. So, let's do a few back-of-the-napkin calculations. If we use April 2024 as the starting date of the "boom" period and then assume a particularly robust 18-month boom, that takes us to October. For the sake of argument, let's assume an extra "Trump pump" for Bitcoin. That takes us to November. So far, so good. But remember what happened four years ago, in November 2021? Yes, Bitcoin hit an all-time high of $69,000 and seemed to be headed to the moon. Nobody thought the crypto party would ever end. But it did. The price of Bitcoin collapsed by 65% in 2022, and the term "crypto winter" entered the popular vernacular. Of course, there will be those who say, "It's different this time." After all, the spot Bitcoin ETFs didn't exist back in 2021. There was no Strategic Bitcoin Reserve back in 2021. Big institutional investors weren't piling into Bitcoin as they are now. I get it. It does feel different, especially with the Trump administration's support of crypto. But ignore history at your own peril. If history is any guide, the four-year Bitcoin cycle is coming to a close soon, and it won't matter how many trade deals the White House signs or how much the Fed cuts interest rates. If you're buying Bitcoin now, make sure you're prepared for future volatility and are willing to hold for at least four years. Before you buy stock in Bitcoin, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Bitcoin wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $623,685!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $701,781!* Now, it's worth noting Stock Advisor's total average return is 906% — a market-crushing outperformance compared to 164% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of April 28, 2025 Dominic Basulto has positions in Bitcoin. The Motley Fool has positions in and recommends Bitcoin. The Motley Fool has a disclosure policy. As Markets Churned, Bitcoin Surged. Here's What Could Happen Next. was originally published by The Motley Fool
BusinessToday
05-05-2025
- Business
- BusinessToday
Crypto Market Dips To US$2.93 Trillion As BTC, BNB, XRP See Minor Pullback
The global cryptocurrency market experienced a mild correction today, with total market capitalisation dipping by 1.58% to US$2.93 trillion. Despite the decline, investor sentiment remains neutral, with the Crypto Fear & Greed Index sitting at 49. Bitcoin (BTC), the market's bellwether, dropped 1.72% in the last 24 hours, currently trading at US$94,137.93. Ethereum (ETH) followed suit, easing 1.97% to US$1,796.30. Tether (USDT), the largest stablecoin, remained largely flat at US$1.00. Among the top altcoins, BNB slid 1.92% to US$588.46, while XRP defied the broader market trend with a 2.26% gain, now priced at US$2.15. Meanwhile, meme coin TURBO surged 12.24% to US$0.0053, leading daily gainers. On decentralised exchanges, GORK/SOL emerged as the top trending pair, skyrocketing over 50% to US$0.06117. Trading volumes remain robust, with Bitcoin seeing over US$20.5 billion in 24-hour activity, and Ethereum posting US$9.3 billion. With market watchers eyeing a possible bullish cross for Bitcoin, some analysts are optimistic about a potential rally towards the US$120,000 mark. Related
