Latest news with #Kuptsikevich
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
14-05-2025
- Business
- Yahoo
Ether Nears $2.7K, Dogecoin Zooms 9% as Crypto Market Remains Cheery
Ether (ETH) and dogecoin (DOGE) led majors gains on Wednesday with a 9% jump in the past 24 hours, extending a bullish streak that's seen both tokens gain double digits over the past week. The broader crypto market showed modest gains with total capitalization up 1.7%, per CoinGecko, with bitcoin (BTC) hovering around $103,700 in Asian morning hours. Ethereum traded above $2,600, with dogecoin around 24 cents. XRP, BNB Chain's BNB, Cardano's ADA and Solana's SOL gained between 3%-5%. Despite a burst of green across major altcoins, crypto traders are starting to feel the weight of macro markets and warn of profit-taking in the short term. A stronger dollar and renewed trade tensions temper momentum, even as bitcoin flirts with record territory. 'The strengthening dollar on news of tariffs has been a natural drag on cryptos,' explained Alex Kuptsikevich, chief market analyst at FxPro, in an email to CoinDesk. 'This is doubly true due to bitcoin's proximity to the highs, reinforcing the pull for short-term profit taking after rallying in just over a month.' As global markets shift from protectionism to cautious optimism, bitcoin remains in limbo. The asset is once again caught between competing narratives for some trader. "BTC remains caught in a tug-of-war between its identity as 'digital gold' and its function as a risk-on proxy," traders at Singapore-based QCP Capital said in a market broadcast. "This tension continues to obscure its directional conviction. As the macro narrative moves from protectionism toward renewed trade optimism, BTC could remain range-bound." Still, sentiment remains strong. The widely-tracked Fear & Greed Index has held steady above 70 for four consecutive days — a 'greed' level typically associated with sustained bullish appetite in the near term. 'Bitcoin showed its unpredictable nature on Monday,' Kuptsikevich added. 'But with the positivity remaining, it's worth paying attention to the price dynamics near $105. Will we see an acceleration or a new failure? The answer will guide the coming days.' Elsewhere, latest fund flow data from CoinShares shows $882 million in institutional inflows last week — the third straight week of strong buying. BTC led with $867 million, while ETH saw just over $1.8 million in flows despite a stellar price performance over the last week. Notably, Solana (SOL) posted $3.4 million in outflows, even as traders loaded up on $200 call options expiring in late June, as reported.
Mint
29-04-2025
- Business
- Mint
Bitcoin nears $95,000 levels on April 29 — is a crypto markets bull run likely soon? Here's what experts say…
Bitcoin price today, April 29: The world's largest cryptocurrency, Bitcoin, at 9 am was at $94,662.19 up 1.16 per cent over the past 24 hours, according to data on CoinMarketCap. Further, market cap of Bitcoin was also up 1.06 per cent to $1.87 trillion, with trading volume for the 24 hour period recorded at $32.12 billion, data showed. The price rise has likely been driven by Bitcoin exchange-traded funds (ETFs), institutional demand, and hints of favourable crypto-related policies by the United States government under Donald Trump. Further, the US state of Arizona is considering investments into a Bitcoin treasury, which could potentially influence other states towards including digital asset in their financial strategies. The global cryptocurrency market capitalisation is $2.97 trillion — up 1.59 per cent over the previous day. The total market trade volume over the period is also up 47.79 per cent to $89.69 billion, CoinMarketCap data showed. Alex Kuptsikevich, chief market analyst at FxPro noted that the crypto market capitalisation has been hovering around $2.97 trillion since the end of last week. 'The market has recovered to its 200-day moving average, but is hesitant to overcome it, as we see in the case of Bitcoin. The sentiment in the markets is neutral. It seems that players prefer to move upwards with relatively long stops,' he felt. Further, Decentralised Finance comprises $6.31 billion or 7.03 per cent of the total crypto market; while the volume of all stable coins is $83.77 billion or 93.40 per cent. Overall, Bitcoin holds 63.37 per cent dominance among tokens a minor 0.03 per cent drop over the past 24 hours. World's second largest crypto by circulation, Ethereum is at $1,795.46 up 1.29 per cent over the previous day, with market cap of $216.76 billion and trade volume of $15.84 billion. On Ethereum, Kuptsikevich said the token 'is struggling with resistance in the form of the 50-day moving average near $1800 for the sixth day. Over the past couple of years', adding that it is 'accelerating gains when breaking above it and facing significant pressure when falling below it'. Stablecoin Tether is at $1, with market cap of $148 billion and trade volume of $68.91 billion, over the past 24 hours. It is the most traded crypto in the world. Further, Donald Trump's favoured Solana token is at $147.52, with market cap of $76.36 billion and trade volume of $3.67 billion, over the past 24 hours. According to Kuptsikevich, Bitcoin is stabilising near $94,500, 'having fully recovered to the consolidation levels seen in February before its sharp decline. The technical outlook remains bullish, with BTCUSD trading above both its 50- and 200-day moving averages. Both indicators are trending upward, and last week's consolidation above these levels marked a strong move, reinforcing the bullish momentum'. QCP Capital noted that the bitcoin options market is currently dominated by call options with $95,000 strike prices for the end of April and May, suggesting that risk appetite remains strong. Cathie Wood's Ark Invest predicts a 'bullish scenario' where Bitcoin could rise to $2.4 million by the end of 2030 amid the growing adoption of the asset by institutions and sovereign wealth funds. 'BTC will reach $1.2 million in the baseline scenario and $500,000 in the bearish scenario,' Ark said it its analysis, based on calculations of the total target market (TAM), penetration rate and issuance of the first cryptocurrency. Further, Citigroup forecasts that 2025, 'could be a breakthrough year in institutional adoption of blockchain technology, with stablecoins being one of the drivers'. It feels that stabelcoin capitalisation by 2030 could grow to $1.6 trillion in a base case scenario and $3.7 trillion in a bullish scenario. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions. First Published: 29 Apr 2025, 09:40 AM IST
Yahoo
16-04-2025
- Business
- Yahoo
Dogecoin Whales Accumulate, SOL Hints at Consolidation as Market Takes a Breather
Bitcoin (BTC) and major cryptocurrencies fell over 3% as profit-taking followed Tuesday's rally. Overall crypto market capitalization fell 3.3% in the past 24 hours, with BTC sliding to nearly $83,500 from a high above $84,200 a day earlier. Ether (ETH) and Cardano's ADA fell as much as 5% to lead losses among majors. The cryptocurrency market added 8% over 7 days, stabilising at the $2.7 trillion level since Saturday. FxPro's Alex Kuptsikevich says a move higher could bolster hopes for further gains, but these expectations will 'only be confirmed after a solid consolidation above the 200-day moving average, which is now near $2.97 trillion.' "Bitcoin continues its cautious rise, trading above its 50-day moving average and reaching $85,700. This is an important technical attempt to reverse the downtrend. Interestingly, the 200-day average is quite close, so a second confirmation of a trend change could come quite quickly,' Kuptsikevich said, adding that bitcoin had entered a resistance accumulation zone where the 'strength of the initial rebound may fade.' Solana's SOL is showing strength in a downtrodden market, making it ripe for a move higher if overall conditions improve. 'Solana is recovering faster than many of the major altcoins, trading at its 50-day moving average near $130. A consolidation above this level will open the way to $145, the area of previous peaks. A sustained move above them will signal a break of the downtrend and could lead to a move towards $180,' Kuptsikevich noted. On a more pessimistic approach, prominent market chartist Peter Brandt is not optimistic about bitcoin setting new highs in the current cycle. 'A trendline violation does NOT signify a transition of trend BTC Sorry,' the trader noted said in an X post in response to sentiment for a bullish rebound. Trendlines are a subjective price-action analyst method and less dependable than moving averages or key levels. A break, used in tandem with technical analysis, could hint at a change in movement. Here's what AI-driven market insights for some majors look like on Wednesday. Dogecoin whales have accumulated over 800 million DOGE in the last 48 hours, signaling potential confidence in the asset's short-term prospects, data shows. DOGE is currently trading at a critical juncture around $0.154-$0.155, with immediate resistance at $0.157 and crucial support at $0.153 that must hold to prevent further decline. DOGE experienced significant volatility, reaching a peak of $0.169 before entering a pronounced downtrend with lower highs and lower lows since April 14th. Support levels established around $0.155 have been repeatedly tested, with volume spikes coinciding with major price movements. The 48-hour Fibonacci retracement shows price currently hovering near the 0.618 level, suggesting potential consolidation before the next directional move. A sharp selloff occurred between 05:19-05:24, with price plummeting 1.1% in just five minutes on exceptionally high volume (15.3M in a single minute). The subsequent bounce formed a potential double bottom at $0.153, with price currently consolidating around $0.154. Volume analysis shows clear distribution before the drop and accumulation during the recovery attempt. Recent price action shows SOL navigating volatility as geopolitical factors create market uncertainty. Solana (SOL) experiences significant price volatility, consolidating between $125-$132 after a 13.7% surge from $119.59 to $136.01. Solana leads decentralized exchange (DEX) volumes, outpacing Ethereum for three consecutive days with $2.43 billion in trading activity. Recent trading shows SOL consolidating between $125-$132, with key support established at $125.25. Volume analysis reveals diminishing buying interest after the initial rally, suggesting market indecision. The 50-hour moving average at $129.80 now serves as a critical pivot point. Fibonacci retracement levels indicate potential support at $127.40 (38.2%) if current levels fail to hold. ADA experienced significant volatility, surging from $0.618 to a peak of $0.667 (8.0% range) before undergoing a substantial correction. Recent trading shows ADA consolidating between $0.605-$0.615, with increased volume during downward movements suggesting continued bearish pressure. Trading data reveals increasing volume during downward price movements, suggesting persistent selling pressure despite oversold conditions on 48-hour momentum indicators. While some accumulation appears to be occurring at lower levels, potentially forming a base for recovery, ADA now faces significant overhead resistance from the 200-hour moving average. The 200-hour moving average now acts as overhead resistance, reinforcing the bearish trend. 48-hour momentum indicators reveal oversold conditions, potentially offering short-term relief. Volume increased significantly during downward movements, confirming selling pressure.
Yahoo
15-04-2025
- Business
- Yahoo
XRP, SOL and ADA Flash Bullish Patterns as Traders Eye Recovery
XRP, Cardano (ADA), and Solana (SOL) tokens are exhibiting technical strength in a signal of potential short-term price recoveries, data indicates. Bullish patterns—XRP's $2.00 breakout, ADA's double bottom at $0.55, and SOL's rally to above $130—suggest accumulation phases despite broader market volatility. However, a bitcoin drop below $80,000 or intensified macro pressures could limit gains. Alex Kuptsikevich, the FxPro chief market analyst, said in a note to CoinDesk that traders must await confirmation of a bitcoin trend reversal before long-term dip buying on major tokens. "Bitcoin has yet to confirm a growth reversal," Kuptsikevich said. "The key area along the way is the $85,000 level, where the 50-day moving average passes. Its overcoming will be an important confirmation of the bullish sentiment, while fluctuations below it will remain market noise." "XRP found support last week on the decline to the 200-day moving averages. This small but encouraging signal suggests that market participants are still adhering to a 'buy on dips' strategy, believing in the continuation of the bullish trend," he added. Here are technical analysis highlights for XRP, ADA and SOL, based on CoinDesk data: XRP surged 11% from $1.87 to $2.07 in the past week, breaking a psychological $2.00 barrier earlier Monday. Recent price action shows a higher low at $2.065, recovering to $2.068, with decreasing volatility indicating accumulation. Technical Outlook: Support: $2.00-$2.065, reinforced by the 50-hour moving average at $2.03. Resistance: $2.10, with $2.15-$2.20 possible on a break. Indicators: Volume surges during breakouts, and a higher low structure confirms buying interest. RSI near 60 suggests room for upside without overbought risks. Short-Term Target: If $2.00 holds, bulls may want to watch $2.10-$2.15, with a break below risking $1.99. Solana rallied 3% from a low of $125 to nearly $134 in early European hours Monday, part of a 30% climb from $101.30 to $125.48 in the past week driven by ETF approval optimism (76% odds on Polymarket). Support around the $120 mark remains firm, with recent consolidation between $124.50-$125.30 testing $125.50 resistance. Technical Outlook: Support: $120-$124, with $115 as a deeper base. Resistance: $130-$135, with $145 in sight on a breakout. Indicators: Increasing volume and tightening Bollinger Bands hint at an explosive move. MACD's bullish divergence supports gains. Short-Term Target: Clearing $135 could push SOL to $140 and above. A drop below $120 risks $105, but the channel favors bulls. ADA rebounded 18.6% from $0.537 to $0.637 in the past week, forming a double bottom at $0.55 with strong volume on April 9th. Despite bitcoin's 15% weekly decline and trade tensions (China's 34% U.S. import tariffs), ADA's consolidation above 60 cents (now support) signals strength. With the ascending channel with support at 63 cents, bulls can now target at least 70 cents. Technical Outlook: Support: $0.632-$0.636, backed by the 50-minute moving average at $0.636 as of Monday. Resistance: $0.641, with Fibonacci extensions at $0.645-$0.658. Indicators: Healthy volume and declining volatility suggest accumulation. Stochastic RSI shows building momentum. Short-Term Target: A break below 63 cents risks 55-59 cents, but the double bottom supports the upside. Read more: Bitcoin Faces 'Cloud Resistance' at $85K, Neutralizes Risk-Reward for Bulls: Godbole Sign in to access your portfolio
