Latest news with #SrinivasL
Economic Times
6 days ago
- Business
- Economic Times
Bitcoin holds near $118,000 after recent rally; Ethereum, Dogecoin surge up to 6%
Bitcoin held steady near the $118,000 mark on Wednesday, as traders took stock of a recent rally and shifting institutional dynamics. As of 11:18 am IST, the world's largest cryptocurrency was trading 0.7% higher at $117,985. Ethereum surged over 6% to $3,144, leading gains among top altcoins. ADVERTISEMENT Market watchers say the recent pause comes after Bitcoin's sharp ~33% rally over the past month, which triggered a wave of profit booking. 'BTC pulled back around 5%, trading near $118,000, while long liquidations exceeded $333 million,' said CoinSwitch Markets Desk in a morning note. Ethereum saw $113 million in forced exits but remained resilient amid growing optimism. 'Ethereum continues to attract bullish sentiment, with EMJ Capital reiterating its view that ETH could reach $10,000 in this cycle, supported by staking ETF approvals, a deflationary supply model, and rising institutional interest,' CoinSwitch added. Srinivas L, CEO of 9Point Capital, believes Bitcoin's uptrend remains intact despite recent pullbacks. 'These are healthy pauses. Strong institutional demand and regulatory clarity are reinforcing the long-term bullish case. We expect BTC to consolidate above $117,000 before attempting $125K–$127K,' he said, advising investors to adopt a disciplined 'buy-the-dip' Research echoed the cautiously optimistic view. 'While bears are still active, the market sentiment remains bullish. Most altcoins are holding recent gains, and momentum could resume soon,' the team noted. Sathvik Vishwanath, Co-Founder and CEO of Unocoin, pointed to strong ETF inflows exceeding $14.8 billion this year as a major tailwind. 'With the breakout above the $110K–$123K range, we expect Bitcoin to head toward $130K–$135K. Post-halving supply shocks, possible Fed rate cuts, and regulatory progress are key catalysts. Forecasts for 2025 suggest targets as high as $150K–$200K, with long-term projections near $500K,' he said. ADVERTISEMENT Other major altcoins traded higher, with XRP and Solana rising 2%, Dogecoin gaining 4%, and Cardano adding 3%. Stellar, Sui, and Chainlink also rose between 2–4%. (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times) ADVERTISEMENT
Time of India
6 days ago
- Business
- Time of India
Bitcoin holds near $118,000 after recent rally; Ethereum, Dogecoin surge up to 6%
Synopsis Bitcoin stabilized near $118,000, following a recent surge, while Ethereum led altcoin gains, exceeding $3,144. Analysts attribute the pause to profit-taking after Bitcoin's 33% rally. Experts like Srinivas L suggest 'buy-the-dip' strategies, anticipating consolidation above $117,000 and a potential rise to $125,000–$127,000. Sathvik Vishwanath highlights strong ETF inflows and expects Bitcoin to target $130,000–$135,000, with optimistic long-term forecasts.
Business Mayor
19-05-2025
- Business
- Business Mayor
Crypto Week Ahead: Bitcoin Bulls Eye Breakout As Volatility Looms
The week ahead in crypto is poised to be a volatile ride, with Bitcoin hovering near all-time highs and the market bracing for key macroeconomic triggers. After a dramatic surge past $106K and a swift pullback, all eyes are on whether BTC can break resistance around $110K or dip toward $98K. Meanwhile, Ethereum shows signs of recovery, and altcoins like Dogecoin and XRP remain resilient. With ETF inflows rising, whale activity increasing, and investor sentiment swinging toward greed, the stage is set for sharp moves and decisive market action in the days ahead. Before we proceed further, readers should note that the overall crypto market and coin prices are extremely volatile. There are no foolproof methods to ascertain how cryptocurrencies are expected to behave in the future. This article is aimed at helping investors stay on top of the current market scenarios and the biggest events that have already taken place as well as some upcoming occurrences that are worth noting. Investors are advised to do their research before taking any calls. Crypto Prices Over The Past Week Last Monday (May 12), the overall crypto market cap stood at $3.34 trillion. BTC price stood at nearly $104,000. ETH price stood at around $2,500. A week later, the overall market cap dipped to $3.25 trillion. Check Out Top Crypto Prices Today Over the past seven days, Bitcoin achieved a high of $106,566.10 (on May 19) and a low of $100,833.29 (May 13). Ethereum, on the other hand, saw a high of $2,731.20 (May 14) and a low of $2,360.10 (May 19). Crypto Events To Note Bitcoin continues to dominate headlines as it flirts with record highs and heightened volatility. A mysterious whale has placed a leveraged bet near $103K, raising concerns of market manipulation. While BTC holds steady around $103,684, traders eye a breakout above $110K or a pullback to $98K. The Fear & Greed Index shows growing greed, reflecting bullish sentiment. Ethereum is rebounding, and BTC has surged past $106K, with predictions of a rally to $130K if macro conditions support. However, a sudden dip from $107K triggered a broader crypto market correction, impacting major altcoins like Ethereum, Litecoin, and Tron. Caution remains key. What Crypto Traders Are Saying About Current Market Scenario Alankar Saxena, CTO and co-founder, Mudrex, told ABP Live , 'Bitcoin is currently trading around the $104,000 mark, supported by growing bullish sentiment. Interestingly, BTC seems to be on the verge of forming a golden cross this week, similar to patterns seen in February and October last year, which historically preceded significant rallies and could once again propel prices to record highs. A decisive breakout above $105,000 could signal a bullish continuation, paving the way for new all-time highs. However, a drop below the $102,500 support zone may trigger a short-term pullback toward $100,000.' Srinivas L, CEO, 9Point Capital, said, 'Bitcoin (BTC) is consolidating just above $103K after a strong 25% rally over the last two months — a healthy sign of strength after a sustained move. With U.S. inflation cooling and Fed rate cut expectations rising, risk appetite is improving. Institutional demand remains solid, with cumulative spot ETF inflows now surpassing $40B, led by BlackRock and Fidelity. On-chain data shows long-term holders accumulating, and key supports at $100K and $97K continue to hold firm. We view this as a buy-the-dip environment within a broader bullish structure.' Subscribe And Follow ABP Live On Telegram: Disclaimer: Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Cryptocurrency is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Cryptocurrency market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.
