Latest news with #JoeDiPasquale
Forbes
5 days ago
- Business
- Forbes
Ether Technical Analysis: Prices Could Reach Mid-$3,000s Soon
Ether could be headed above $3,000 in the near future. Ether prices, which have roughly doubled in the last few months, could be headed toward the mid-$3,000-range shortly, according to technical analysts. The digital currency, the world's second-largest by total market value, climbed above the $2,800 level on Tuesday, June 10 for the first time since late February, according to Coinbase data from TradingView. 'Now that ether has broken above $2,800, the next key resistance level is $3,000—a psychological barrier and a price ceiling seen multiple times in March. If ETH can close above that with strong volume, it opens the door to a move toward $3,200,' Joe DiPasquale, CEO of cryptocurrency hedge fund manager BitBull Capital, stated via email. 'On the downside, immediate support lies near $2,650, with stronger buying interest likely around $2,400, which coincides with the 100-day moving average,' he added. The market observer also used a technical indicator called the Relative Strength Index, which looks at an asset's recent price movements to get a better sense of whether that asset is underbought or overbought, to evaluate ether. 'Technical traders are also watching RSI, which is approaching overbought territory—suggesting momentum is strong but could be due for a cooldown if price stalls below $3,000.' Tim Enneking, managing partner of Psalion, offered a similar take on the matter. '$2,850 is the next key level which we are barely below now. That would push the current price back to early February in terms of the last time ETH was above $2,800,' he stated through emailed input. 'Once ETH pushes above that (and I think it will quite soon, maybe even today), $3,000 becomes a major line of resistance,' Enneking noted. 'If ETH can push through that (less clear), $3,100 will also be tough. If ETH takes that out, it's pretty clearly sailing until around $3,450.' Grant Tungate, head of business development for Blockforce Capital, also weighed in on this situation. 'The key zone resistance zone we are watching is 2800-2850. On a failure we are watching for the 200 day moving average at 2657 to act as support,' he stated via email. 'On a move higher we see the next resistance zone around 3000,' Tungate added. Armando Aguilar, an independent cryptocurrency analyst, offered his two cents on what ether prices could do in the near future, highlighting several areas of both support and resistance. 'Ethereum has been on a hot streak this week. Having touched $2.4k to now trying to break above $2.8k,' he clarified through emailed responses. 'Resistance levels stand at $2,820, if breached, we could see ETH cruise to low $3k territory. If the low $3k territory is breached, ETH could see mid-January 2025 levels at $3.3k - $3.4k," stated Aguilar. 'Support levels are in the mid $2.6k range, if support is unable to hold, we could see ETH retrace to mid $2.5k, followed by low $2.4k range."
Forbes
27-05-2025
- Business
- Forbes
Ether Prices Rallied 50% In A Month As ETF Staking Optimism Fueled Gains
Ether prices have risen sharply over the last month, climbing roughly 50% as the digital currency benefits from bullish factors including anticipation surrounding the approval of rules that would allow spot-based ether exchange-traded funds to offer staking. The world's second-largest cryptocurrency by total market capitalization reached $2,713.78 today, according to Coinbase figures from TradingView. This compares to an intraday high of roughly $1,800 that the digital asset attained approximately one month ago on April 27, additional Coinbase data from TradingView reveals. 'Ether's rally has largely been driven by renewed optimism around a potential spot ETH ETF approval, which caught many investors off guard,' Joe DiPasquale, CEO of cryptocurrency hedge fund manager BitBull Capital, stated via email. 'The shift in regulatory tone — especially the SEC's engagement with issuers — triggered a sharp short squeeze, as ETH had been one of the most heavily shorted large-cap tokens in recent months,' he continued. 'That initial move was then reinforced by broader market strength, improved risk sentiment, and ETH's relative underperformance earlier in the cycle, which made it a natural catch-up trade," DiPasquale claimed. The TikTok influencer who goes by Wendy O also weighed in on the recent applications requesting that spot-based ether ETFs offer staking, stating through email that these are the reason why the digital currency has been enjoying notable gains as of late. Other analysts offered differing explanations. George Kailas, CEO of credited a short list of bullish factors with fueling ether's recent upward movement. 'As we've discussed before, I think cryptocurrencies as a whole have become the most popular way to trade risk, especially given the favorable regulatory environment providing high upside and more limited downside than a growth stock that could be directly impacted by tariffs,' he via email. 'The Pectra Upgrade is positive signaling at the right time. A fairly substantial update to everything from scalability, to security and staking efficiency,' said Kailas, 'Which in turn attracted heavy ETF flows.' 'And all of this is amplified by the GENIUS Act,' he stated, which drew more investment dollars to cryptocurrencies in general. However, Kailas noted that the price movement created by the market's reaction to Pectra combined with this legislation to make ether look rather compelling to investors. Tim Enneking, managing partner of Psalion, also shed some light on the situation, stating through email that 'ETH has just been hopelessly lagging BTC and most of the market.' 'ETH needs to essentially double without BTC moving at all simply to get to its ATH from almost three years ago," he added, emphasizing that 'Meanwhile, BTC is up 70% from its last ATH.' 'ETH developers had become complacent (arrogant?) because the Ethereum blockchain was so successful. However, that complacency led to challengers, even EVMs, catching up and, in many cases, outperforming Ethereum,' stated Enneking. 'More recently, however, ETH developers have felt the heat and have begun to innovate better and faster. The pace and substance of upgrades have increased – and I would submit that is what is moving the price,' he said. 'However, ETH has a *long* way to go to retake the blockchain lead, especially given that its 'dominance' has plunged from around 30% to less than 10.'
Forbes
22-05-2025
- Business
- Forbes
Bitcoin Could Test $120,000 In A Matter Of Weeks, Says Analyst
Bitcoin could next approach the $120,000 level. Bitcoin prices, which managed to set multiple records on Wednesday, May 21, could test the $120,000 level in the coming weeks, according to technical analysis provided by hedge fund manager Joe DiPasquale. Earlier in the day, the digital currency surpassed set a fresh high above $109,000, before surpassing $110,000 close to 7:30 p.m. EST, Coinbase data from TradingView reveals. The cryptocurrency did not stay above $110,000 for long, and was trading closer to $109,300 at the time of this writing, additional Coinbase figures sourced from TradingView show. Amid these latest price movements, DiPasquale, CEO of cryptocurrency hedge fund manager BitBull Capital, shed some light on the digital asset's short-term outlook. 'On the upside, $112,000 is the next psychological resistance, but if momentum continues, we could see a test of $120,000 — which aligns with longer-term Fibonacci extensions,' he stated via email. 'At these levels, price action is likely to be volatile, so watching ETF flows and funding rates will be just as important as the charts,' the market observer added. 'If momentum holds and we continue to see strong ETF inflows and a supportive macro backdrop, Bitcoin could plausibly test the $120,000 level within weeks, not months," he clarified, offering a more concrete timeline for when the digital currency could reach this height. 'These upside moves tend to accelerate when resistance levels are cleanly broken, especially with sidelined capital getting pulled in. Of course, that path won't be linear — pullbacks are healthy — but the structure suggests we're still in the early stages of this breakout.' Tim Enneking, managing partner of Psalion, also weighed in, offering his perspective on the markets through emailed commentary. 'The new BTC ATH, coming on the same day that fiat markets were hammered because of the difficulties with the US T-bill debt auction, is monumental,' he stated. 'The positive correlation between BTC and US equities markets has been weakening since early April and it was basically totally broken today,' Enneking noted. 'This most recent period could be historic: the beginning of the real perception of BTC as a 'haven' by the tradfi space, finally taking up a theme that has been sung by the digital asset space for more than a decade,' he said. 'In addition, the new ATH and the slow-and-steady climb to that level, mean that $100k has now been turned into very firm support,' Enneking clarified. 'And because the price peaked at only just above the January ATH, it means that $110k represents fairly serious resistance." 'Rather than being range-bound between these two levels, however, I think the climb will continue for the foreseeable future as more and more corporations, US states and countries elect to treat BTC as a reserve asset,' he predicted. The TikTok influencer who goes by Wendy O also offered her views, identifying key levels of support and resistance she is watching. 'We saw Bitcoin break its previous all time high at ~$109,600 and hit $109,700 Yesterday, 5/20/2025 Bitcoin had its highest daily close at ~$106,700 and the highest week close at ~$106,400. Right now I'm watching support at $102,000 and resistance at $110,000,' she stated earlier this evening. 'I do believe this was fueled by the GENIUS Act passing the first round at the Senate, Trump's memecoin holder experience 5/22/2025 and JD Vance speaking at Bitcoin 2025. It is rumored that both events will have announcements made,' the influencer added.
Forbes
08-05-2025
- Business
- Forbes
Bitcoin Rallies Past $100,000 After Highly Bullish Sentiment Reading
Bitcoin prices reached over $104,000 today. (Photo illustration) Bitcoin prices rose sharply today, climbing above the crucial $100,000 level and reaching their highest since January after CryptoQuant's Bitcoin: Bull Score Index showed a bullish reading of 80. Since the aforementioned index attained this figure not only today, but also on May 1, 2, 3, and 7, it has repeatedly tied for its loftiest value since January 30, additional CryptoQuant data reveals. This coincided with the digital currency rising from roughly $95,000 on May 1 to more than $104,000 today, according to Coinbase figures from TradingView. Julio Moreno, head of research for CryptoQuant, shed some light on what this reading means, specifying via Telegram chat that 'The index measures demand, valuation and liquidity conditions for Bitcoin. As long as the index is at 60 or above it signals bullish sentiment and supports higher prices.' He noted that the Bitcoin: Bull Score Index sank to as little as 10 in early April, which means that the measure increased 700% in roughly the space of a month. Joe DiPasquale, CEO of cryptocurrency hedge fund manager BitBull Capital, also weighed in how the mindset of investors has strengthened lately. 'There's little doubt that sentiment around bitcoin has improved markedly in recent weeks. CryptoQuant's Bull Score Index hitting 80 — the highest since January — reinforces what we're seeing on-chain and across trading desks: renewed conviction.' Bitcoin prices rallied today after President Donald Trump announced that he and U.K. Prime Minister Keir Starmer had managed to work out a trade deal that both heads of state described as advantageous for their countries. 'The deal includes billions of dollars of increased market access for American exports, especially in agriculture, dramatically increasing access for American beef, ethanol, and virtually all of the products produced by our great farmers," said Trump, according to a White House statement. 'This is going to boost trade between and across our countries. It's going to not only protect jobs, but create jobs, opening market access,' Starmer added. The U.S. will continue to impose a 10% baseline tariff, the statement revealed, but the nation has agreed to change up its treatment of automobiles imported from the U.K. 'Under the deal, the first 100,000 vehicles imported into the U.S. by UK car manufacturers each year are subject to the reciprocal rate of 10% and any additional vehicles each year are subject to 25% rates,' the announcement specified. While announcing this deal, Trump expressed optimism that the 145% tariff that the U.S. has imposed on Chinese imports would soon come down, according to Reuters. Several analysts cited these development as contributing to bitcoin's latest price gains, but emphasized that other causes helped drive the digital currency higher. When asked what fueled bitcoin's latest gains, Tim Enneking, managing partner of Psalion, stated via email that 'I think the proximate cause was clearly the US-UK announcement of a trade agreement this morning – which was teased beginning yesterday (many details of which, however, remain to be finalized).' 'However, that was far from the entire reason and really wouldn't be sufficient to explain the rather large BTC (and ETH) move of the past couple of days,' he added. 'Mid-level talks between the US and China, which were announced yesterday, kicked things off. But, perhaps more important than either, BTC has been like an ever-tighter coiling spring since it bounced off of $74.5k in early April,' said Enneking, focusing on the strong, upward trend the digital asset has been experiencing lately. DiPasquale also claimed that myriad developments placed upward pressure on bitcoin prices, indicating via email that 'Bitcoin's surge above $100,000 appears to be driven by a convergence of macro tailwinds and narrative momentum.' 'The announcement of a new U.S.-U.K. trade deal under Trump likely contributed to broader optimism in risk assets, reinforcing the idea that a more favorable geopolitical and regulatory environment could benefit digital assets. However, bitcoin's move is also powered by deeper structural factors — from ongoing institutional accumulation to the scarcity effect post-halving,' he stated. Enneking spoke to the optimism of major players, emphasizing that they never lost confidence that bitcoin would recover after falling below $75,000 last month. 'Whales never lost the faith that BTC was going up from there to set a new ATH and not down as they steadily accumulated,' he stated. 'That institutional confidence has now been justified, triggered and supported by today's tradfi macro events,' Enneking added.
Forbes
08-04-2025
- Business
- Forbes
Bitcoin Plunges Below $75,000 As Tariff Anxiety Creates Fresh 2025 Low
Bitcoin prices reached their lowest point of 2025 today. 3D render Bitcoin prices extended their recent losses in the last few days, falling to their lowest point of the year as global investors responded to the latest concerns created by ongoing developments surrounding global tariffs. The world's most prominent digital currency declined to roughly $74,400 this morning, according to Coinbase figures from TradingView. At this point, the cryptocurrency was trading at its most depressed value since November and had shed more than 30% of its value since reaching an all-time high of more than $108,000 in January, additional Coinbase data reveals. When explaining these latest declines, analysts frequently pointed to concerns surrounding global tariffs, a matter that has generated significant news coverage over the last several weeks. Asked about whether these developments were impacting bitcoin prices, Joe DiPasquale, CEO of cryptocurrency hedge fund manager BitBull Capital, answered in the affirmative, stating via email that 'Yes, the recent drop in Bitcoin appears to be largely driven by a broader risk-off sentiment sparked by renewed tariff concerns.' 'As seen in past market cycles, Bitcoin tends to behave more like a risk asset than a safe haven, often mirroring movements in tech stocks and other growth-oriented investments,' he added. 'The fear of escalating trade tensions—particularly between major economies like the U.S. and China—can prompt investors to shift away from volatile assets like crypto and toward more stable options. This macro uncertainty, combined with profit-taking after Bitcoin's sharp run-up earlier this year, likely contributed to the sharp sell-off,' said DiPasquale. Alex Lin, cofounder and general partner at venture capital firm Reforge, offered a similar take on the matter, replying through email that 'Yeah, heightened economic uncertainty tied to US tariff policies is the obvious, most prominent factor to Bitcoin's decline. The entire market across multiple asset types is reacting accordingly." However, the TikTok influencer who goes by Wendy O provided a more complicated explanation, pointing to several factors that may have contributed to bitcoin's latest depreciation. She highlighted the outflows that bitcoin exchange-traded funds (ETFs) have been experiencing lately, stating via email that 'Bitcoin Spot ETF buyers have been making profits and we can see this by the outflow data. Bloomberg suggests we have seen $5.5 billion in outflows since 1/1/2025.' Wendy O also noted how investor interest in gold might be impacting bitcoin, stating that many market participants have been harnessing the precious metal as a hedge against economic and political uncertainty. The commodity's price has been rising to fresh highs lately, with spot gold contracts reaching a record of more than $3,100 earlier this month, according to Kitco News data. She also provided some technical analysis for bitcoin. 'Chart wise on the BTC weekly Bitcoin has strong support at $71,000 from April and March of 2024 and there could be another drop as BlackRock's Larry Fink said there could be a possible additional 20% market drop. $82,000 would need to be reclaimed for a bullish Bitcoin scenario.' The chart below depicts these price levels: Key support and resistance levels for bitcoin
