Latest news with #RyanLee
Yahoo
7 days ago
- Business
- Yahoo
XRP Price Boom in Crosshairs as Traders Expect Short Squeeze Fueled Rally
XRP's XRP ballooning open interest reflects a surge in speculative activity and hints at a potential price breakout in the near term, market watchers say, as the token trades around $2.20 as of Tuesday morning. 'XRP's open interest has surged to nearly $5 billion (over the weekend), indicating increasing speculative activity as traders take sizable positions in the derivatives market,' Bitget chief market analyst Ryan Lee said in a message to CoinDesk. 'This spike suggests strong potential momentum, with market participants bracing for a decisive move," he added. XRP's price is currently trading in a tight consolidation range — often a technical precursor to breakouts — while consistent spot buying pressure adds to the bullish sentiment. Historically, similar setups in XRP have resulted in rapid rallies, catching short sellers off guard and triggering short squeezes. Yet, while the elevated open interest signals anticipation, the direction of the next big move remains far from certain. However, without a decisive catalyst, Lee warned, such high levels of open interest could also amplify volatility, with traders at risk of large-scale liquidations if sentiment turns sour. 'Without a clear catalyst, such elevated open interest could exacerbate volatility in either direction,' Lee explained. 'A bullish surge may trigger a short squeeze, while an influx of profit-taking or macro-driven risk-off sentiment could fuel liquidations and downside pressure.' Market watchers are closely monitoring developments around the XRP Ledger (XRPL), which could serve as a fundamental catalyst, as well as any ETF-related momentum that may emerge from institutional interest. 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
03-06-2025
- Business
- Yahoo
XRP Price Boom in Crosshairs as Traders Expect Short Squeeze Fueled Rally
XRP's XRP ballooning open interest reflects a surge in speculative activity and hints at a potential price breakout in the near term, market watchers say, as the token trades around $2.20 as of Tuesday morning. 'XRP's open interest has surged to nearly $5 billion (over the weekend), indicating increasing speculative activity as traders take sizable positions in the derivatives market,' Bitget chief market analyst Ryan Lee said in a message to CoinDesk. 'This spike suggests strong potential momentum, with market participants bracing for a decisive move," he added. XRP's price is currently trading in a tight consolidation range — often a technical precursor to breakouts — while consistent spot buying pressure adds to the bullish sentiment. Historically, similar setups in XRP have resulted in rapid rallies, catching short sellers off guard and triggering short squeezes. Yet, while the elevated open interest signals anticipation, the direction of the next big move remains far from certain. However, without a decisive catalyst, Lee warned, such high levels of open interest could also amplify volatility, with traders at risk of large-scale liquidations if sentiment turns sour. 'Without a clear catalyst, such elevated open interest could exacerbate volatility in either direction,' Lee explained. 'A bullish surge may trigger a short squeeze, while an influx of profit-taking or macro-driven risk-off sentiment could fuel liquidations and downside pressure.' Market watchers are closely monitoring developments around the XRP Ledger (XRPL), which could serve as a fundamental catalyst, as well as any ETF-related momentum that may emerge from institutional interest. 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
03-06-2025
- Business
- Yahoo
Bitcoin Strength Wows Traders After Market Tumble; ETH, DOGE Lead Majors Gains
Bitcoin BTC hovered above $105,000 on Tuesday, marking a steady climb after a sell-off over the weekend and Monday resulted in nearly $1 billion in liquidations, rattling traders. Ether ETH led gains among majors at 4.5%, coming as the blockchain's Foundation restructured staffing to focus on protocol developments in a competitive and crowded network landscape — bumping bullish sentiment for the world's second-largest token. Dogecoin DOGE followed with a 3% rise, with Solana's SOL SOL, Cardano's ADA ADA, XRP XRP, and BNB Chain's BNB BNB adding as much as 2.5%. The broad-based CoinDesk 20 (CD20), a liquid index tracking the largest tokens by market cap, rose 2%. After weeks of gains, bitcoin's latest price action has traders closely watching for signs of a potential cooling-off period. Caution is emerging among some as technical signals hint that the rally may be losing momentum. 'Bitcoin hovering around the $105,000 range is circumstantial natural cooling after a strong rally, with elevated trading volumes followed by sustained interest, now hints at fatigue,' said Ryan Lee, Chief Analyst at Bitget Research, said in a Tuesday update shared with CoinDesk. 'BTC could consolidate between $103,000 and $108,000, with $100,000 acting as psychological support. If that level fails, downside targets near $97,000–$93,000 may be tested,' Lee said. Lee added that on-chain data shows continued whale accumulation, typically a bullish sign that any correction could offer an entry point. For ETH, Lee noted that repeated rejections and long upper wicks around the $2,800 level indicate hesitation. 'Overall strength remains intact, but momentum is capped unless ETH decisively breaks above $2,810,' he said. The bigger picture for BTC remains solid on a macro basis. 'On a YTD basis, BTC remains a strong outperformer on a macro basis and vs equity, though there are short-term signs that we might be up for more challenging times ahead, with OGs and natives continuing to be better sellers and profit takers against mainstream buying,' said Augustine Fan, Head of Insights at SignalPlus, told CoinDesk in a Tuesday message. Geopolitical risks continue to weigh on sentiment. Fresh tariff headlines and a tense trade backdrop between the U.S. and China have traders bracing for more volatility, with key policy deadlines in early July on the radar, Singapore-based QCP Capital said in a market broadcast late Monday. For now, bitcoin is proving its mettle and holding on to the 'top of the pecking order,' the firm ended.
Yahoo
24-05-2025
- Business
- Yahoo
Bitcoin Breaks $111,000 As Experts Hail 'Regime Shift'
Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. Even as Bitcoin (CRYPTO: BTC) has hit a new all-time high above $111,000, driven by surging institutional demand, tightening supply, and macroeconomic tailwinds, experts caution the rally isn't without structural risks, including the looming threat of quantum computing. What Happened: Bitcoin surged to a new record of $111,544 on Wednesday, extending its post-halving uptrend and highlighting its growing appeal to institutions amid dovish macro signals. The cryptocurrency was last trading at $111,000, up roughly 1% for the day. The broader market also gained, with Ethereum (CRYPTO: ETH), Solana (CRYPTO: SOL), XRP (CRYPTO: XRP), and BNB (CRYPTO: BNB) up 5%, 6%, 3.4%, and 4.6%, respectively. Trending: — no wallets, just price speculation and free paper trading to practice different strategies. However, market sentiment at 72 nears extreme greed, making growth susceptible to pullbacks, especially amid a U.S. government bond sell-off. What Experts Are Saying: Analysts say the rally is being powered by real spot demand and record ETF inflows, not leverage or hype. Bitget Research's Chief Analyst Ryan Lee said the rally "reflects a regime shift," citing ETF-driven accumulation and a post-halving supply crunch. "Institutional adoption is accelerating, and regulatory clarity, particularly progress on the GENIUS Act is reinforcing market confidence," Lee noted, although he warned that "a stronger U.S. dollar or fresh geopolitical tensions could easily knock momentum off course." The rally has pushed the total crypto market capitalization briefly past $3.5 trillion. Still, FxPro's Alex Kuptsikevich cautioned that the absence of FOMO means growth may remain fragile. "Sentiment at 72 is near the extreme greed zone. That often precedes corrective pullbacks," he said. Bitfinex analysts noted the breakout above $109,500 was driven by "clean spot demand, ETF inflows, and a macro backdrop that favors risk-on assets." They added that funding rates remain stable and open interest is rising in line with price—hallmarks of a structurally sound Next: Yet, not all analysts are focused on short-term price moves. David Carvalho, CEO of Naoris Protocol, warned that quantum computing is a "credible existential threat" to Bitcoin's long-term integrity. "There are over 100 quantum machines operational globally. With Shor's algorithm, they could break Bitcoin's cryptography," he said, referencing the Elliptic Curve Digital Signature Algorithm that secures the majority of BTC. "Roughly 30% of Bitcoin sits in wallets vulnerable to quantum attacks." Carvalho noted that while major institutions like BlackRock (NYSE:BLK) and agencies such as the NSA are preparing for a quantum-secure future, "investors remain overconfident in the current cryptographic defenses." He added, "If even one high-profile wallet is compromised, trust in the system could collapse overnight." Roshan Robert, U.S. CEO of OKX, emphasized the broader context: "Bitcoin's rise isn't just speculative. It reflects how capital preservation is being redefined across institutions and sovereigns." With price targets between $114,000 and $125,000 being flagged by several analysts as the next resistance zones, the immediate focus remains on ETF flows and macro data, including U.S. labor figures and central bank remarks later this week. Read 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 Breaks $111,000 As Experts Hail 'Regime Shift' 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
23-05-2025
- Business
- Yahoo
XRP Could Rocket to $8 as Focus Shifts to Crypto Majors After Bitcoin's Record Run: Traders
Attention is turning to major tokens as bitcoin (BTC) set fresh highs earlier this week, with some pointing out that institutional demand and a clear regulatory environment pave the way for strong moves among the top coins. Bitcoin was hovering just under $111,000 during the Asian morning hours on Friday, seeing a slight pullback on profit-taking as is expected after upward moves. Cardano's ADA, dogecoin (DOGE) and Solana's SOL added as much as 4%, while ether (ETH), XRP, and BNB Chain's BNB rose less than 1.5%. The broad-based CoinDesk 20 (CD20), a liquid index tracking the largest tokens by market cap, rose 1.2% in the past 24 hours. Bitget Research's Chief Analyst Ryan Lee told CoinDesk in a Telegram message that a potential dip in bitcoin dominance could kick off a broader alt season, with high-profile names like XRP and Solana in prime position to benefit. Lee pointed to XRP's improving regulatory clarity and recent technical breakout patterns as reasons traders are eyeing a move toward $3–$8 in the medium term. XRP recently formed a golden cross against BTC on the weekly chart — a historically bullish signal suggesting a long-term trend reversal may be underway. The ratio has been locked in a sideways channel since late 2020, but that may now be breaking after last month's SEC decision not to pursue further appeals against Ripple. SOL could climb toward $220–$300 on ETF speculation, while ADA shows potential for a breakout between $1 and $3, Lee added. Singapore-based QCP Capital said in a Thursday broadcast that the latest BTC move confirmed a robust trend supported by improved structural fundamentals and relatively low volatility. "This rally feels more structurally sound than the last with less frothy momentum-chasing and stronger fundamental underpinnings,' the firm said, adding that the brief dip following BTC's initial record high break triggered put-side profit-taking, but buyers were 'quick to reload on the upside.' Still, broader macro risks remain in play. Renewed tariff concerns, rising U.S. yields, and a stronger dollar could all inject volatility into the system, especially for altcoins, QCP said. Traders are urged to stay selective, focusing on assets with strong fundamentals and clear regulatory narratives. Meanwhile, FxPro's Alex Kuptsikevich shared in an email that bitcoin's sentiment index is hovering just below 'extreme greed' as of Friday, a sign that the rally may still have room to run in the coming days. 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
