Latest news with #SignalPlus
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
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
Yahoo
13-05-2025
- Business
- Yahoo
South Koreans Bet Big on XRP, Dogecoin as Easing Trade War Fuels Risk Taking
Retail traders in South Korea are piling into XRP and dogecoin (DOGE) in a sign of returning risk-on sentiment among speculative traders. Trading volumes of the two tokens on local exchanges crossed bitcoin (BTC) and ether (ETH) in the past 24 hours. The surge comes amid renewed risk-on sentiment across crypto and equity markets as U.S.-China trade tensions ease and macro indicators point to possible rate cuts later this year, some traders say. Both XRP and DOGE have climbed more than 15% over the past week, outpacing bitcoin's 10% move, while ETH has soared nearly 40%, marking its biggest weekly gain since 2021. 'Risk assets have recovered sharply to levels that are now challenging even the most ardent bears,' said Augustine Fan, head of insights at crypto options platform SignalPlus. 'We believe the pain trade remains to be higher prices until more macro bears throw in the towel.' UpBit, the biggest by trading volumes in Korea shows 24-hour volumes on XRP/KRW and DOGE/KRW exceeded $250 million, while those for bitcoin and ether remain under $150 million. The pattern mirrors previous euphoric retail phases in Korea's crypto market, often dubbed the 'Kimchi premium' era, where local investors aggressively chased high-volatility assets. Korean crypto markets have long served as a bellwether for retail sentiment. The move also coincides with a broader market rally fueled by a massive $1 billion short squeeze last week as overleveraged positions were forcibly closed amid surging prices. 'We subscribe to the view that this was a classic market short-squeeze against an exceptionally one-sided market,' Fan added. 'There's no evidence of significant ETH ETF inflows, suggesting this was purely a native positioning event.' The enthusiasm in Korea also reflects improving geopolitical sentiment. U.S. and Chinese officials on Monday said they would heavily cut tariffs on some goods to 30% from 145% for 90 days, following weeks of speculation on what the two superpowers would do. 'Investors are less apprehensive about crypto as U.S.-China trade talks find resolution and rate cuts appear more likely,' said Jeff Mei, COO of BTSE. 'If the Fed signals a dovish pivot next month, it could push bitcoin past all-time highs and re-ignite lending and investment in the U.S. economy.' While traders continue to watch for follow-through on institutional ETF flows and upcoming central bank guidance in June, the short-term momentum suggests that altcoin speculation is leading the current leg higher. 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
Business Times
22-04-2025
- Business
- Business Times
Bitcoin rallies 20% during market turmoil to diverge from tech
[MUMBAI] Bitcoin advanced to the highest level since early March, fueling optimism that the biggest digital token is finally breaking free of a longstanding tendency to move in tandem with US tech stocks. After briefly succumbing to the risk-asset sell-off that followed US President Donald Trump's announcement of sweeping tariffs on geopolitical allies and rivals alike, Bitcoin has rallied almost 20 per cent from an Apr 7 low. In doing so, it has begun trading more akin to gold, the standout asset in markets roiled by tariff uncertainty. The decoupling from US assets – in large part driven by a slumping US dollar – offers some relief for crypto bulls after Trump's first three months in power failed to ignite the rally many had expected. Even after April's gains, Bitcoin trades well below where it was when Trump returned to the White House. Trump's attacks in the past week on Federal Reserve chair Jerome Powell, whom he blames for being too slow to cut interest rates, have further unnerved investors and fuelled the narrative that the era of US 'exceptionalism' that drove a roaring stock market is over. 'One of the possible ramifications of the US decoupling is a revisit to the long-term Bitcoin bull case as a store of value,' said Augustine Fan, a partner at crypto trading platform SignalPlus. 'We've been critiquing Bitcoin as a leveraged Nasdaq proxy over the past year, but it has finally started to show some signs of decoupling.' Bitcoin gained as much as 1.7 per cent and traded around US$88,400 as of 6.30 am in New York on Tuesday (Apr 22). The US dollar spot index recovered slightly after falling to its lowest since late 2023 on Monday, while gold surged past US$3,500 an ounce for the first time. The Nasdaq 100 index was poised for a rebound after Monday's rout. 'If Bitcoin continues to trade more like gold than a tech stock, the decoupling narrative will gather momentum,' said Richard Galvin, co-founder of Sydney-based crypto hedge fund DACM. In another sign of a shift in sentiment, US-listed Bitcoin ETFs took in a combined US$381 million on Monday, the biggest influx since Jan 30. A sustained move above US$88,800 for Bitcoin could propel futher gains to the US$92,000-US$94,000 range, according to Riya Sehgal, a research analyst at Delta Exchange. BLOOMBERG
Yahoo
15-04-2025
- Business
- Yahoo
Dogecoin Slumps 3%, Bitcoin Steady Around $85K as Traders Fear U.S. Recession
Dogecoin (DOGE) shed 3% while bitcoin (BTC) and ether (ETH) remained flat in the past 24 hours as tariff concerns gradually subsided among traders, though fears of a U.S. recession increased in betting markets. 'Prominent financial figures have started to warn that the U.S. is heading into an imminent recession, with betting markets placing 40% to 60% odds of one happening in 2025,' Augustine Fan, head of insights at SignalPlus, told CoinDesk in a Telegram message. 'Our view is that it probably doesn't matter, as sentiment often frames reality, not the other way around.' 'As such, crypto has benefited from the recent shake-out, as equities have been realizing higher volatility than Bitcoin through the risk-off move. A beggar-thy-neighbour policy with tariffs has pushed spot gold to ATHs, with BTC finally regaining some of its long-lost 'store of value' narrative,' Fan added. Crypto majors tracked by the broad-based CoinDesk 20 (CD20) slid nearly 2%, data shows, with DOGE leading losses. Solana's SOL, tron (TRX) and Cardano's ADA lost as much as 2.5%, BNB Chain's BNB and xrp (XRP) were little changed as bitcoin clung to the $85,000 level. Mantra's OM token showed a 20% rise over the past 24 hours to trade at 63 cents in Asian morning hours Tuesday, following a bizarre sell-off that saw it lose 90% within an hour late Sunday. A recovery plan is in the works, its CEO said in an interview following the plunge, though market watchers remain sceptical of any promises. Elsewhere, Story Protocol's IP dumped 20%, then jumped more than 30% within hours late Monday, with early fears of an OM-like sell-off among crypto circles. VeThor's VTHO zoomed 37% as UFC CEO Dana White joined the protocol as a strategic advisor, boosting hopes for mainstream adoption — and recognition — of the RWA-focused token.- Singapore-based QCP Capital said in a Telegram broadcast that BTC risk reversals remained skewed in favour of puts until June, suggesting that markets are still mildly cautious in the near term. 'That said, the tone further out is turning more constructive. On Saturday, we observed aggressive buying of 800x BTC-27MAR26-100k-C. BTC continues to consolidate within the $80k-$90k range and could continue trading sideways, adopting a "wait and see" approach to the tariff situation,' QCP said. However, the $100,000 call option has become the most favored bet among traders in the mid-term, as CoinDesk noted Monday, with a notional open interest of nearly $1.2 billion. Meanwhile, some traders say that sell-offs related to tariffs may be well behind and hope for improved sentiment in the days ahead. 'The current upward trend was further bolstered by the Federal Reserve's assurance that it stands ready to intervene and stabilize markets in the event of a crisis triggered by the tariffs,' Jupiter Zheng, partner of liquid fund and research at HashKey Capital, told CoinDesk. 'As the US engages in trade negotiations with other nations, we remain hopeful that the most turbulent period may be behind us,' Zheng ended. Sign in to access your portfolio
