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New Indian Express
13-06-2025
- Business
- New Indian Express
Crypto sees 10.3% surge in May; second half of 2025 remains optimistic
BANGALURU: Despite uncertainty in global trade policies, the crypto market maintained its upward momentum in May 2025 as it gained 10.3% month-on-month, according to Binance Research, the research and analysis arm of Binance. Bitcoin performed strongly as it surged 11.1% in May and reached an all-time high of $111,970 before experiencing a slide for the fourth day in a row on Friday. Riya Sehgal, Research Analyst, Delta Exchange said Bitcoin's breakdown below the $105K–$106K support zone and rejection at $110.5K confirm a short-term trend reversal. Price structure shows a clean lower high and lower low, with $103K under pressure. A failure here exposes $101.5K and $100K. "Ethereum is showing relative weakness, retracing from $2,860 to $2,500, breaking below recent support at $2,640. Structure invalidated, with downside risk toward $2,460 and $2,360 if $2,500 fails to hold. The sell-off follows geopolitical escalation in the Middle East, triggering over $1.4B in liquidations, predominantly long positions. Crypto moved in tandem with broader risk-off sentiment, while oil surged over 7%. Despite near-term technical weakness, ETF flows remain constructive. BlackRock's spot ETFs added 2,650 BTC and 36,640 ETH on June 12," he added. On Friday, Bitcoin was trading below $1,05,000, down nearly 1% over the last 24 hours.
Mint
10-06-2025
- Business
- Mint
Crypto news update, June 10: Bitcoin brushes $110k catching traders off-guard before moving to $1,09,449
Bitcoin price today, June 10: The world's largest cryptocurrency, Bitcoin, briefly rose 1.38 per cent to $110,277.93 on June 10, while Ether jumped 4.8 per cent to $2,713.39, before slipping sightly on profit-booking. CoinSwitch Markets Desk noted that the hike caught traders off guard. 'Over $110 million in short positions were liquidated within an hour, with a total of $330 million in shorts wiped out over the course of the day,' they noted. Overall, the crypto market capitalisation on June 10 is at $3.41 trillion, with trade volume over the past 24 hours being $134.11 billion, according to data on CoinMarketCap. Further, in terms of dominance, Bitcoin gained 1.41 per cent to comprise 63.6 per cent of the market share on June 10; while Ethereum rose 0.43 per cent to 9.5 per cent dominance; and other tokens fell 1.84 per cent to comprise the remaining 26.9 per cent of the crypto market, data showed. Early at 5 am on June 10, Bitcoin briefly touched 1,10,000 levels, before moving to $109,449.70 at time of writing, as per CoinMarketCap. It was up 3.74 per cent from the previous day, with market cap at $2.17 trillion (also up 3.79 per cent), and tarde volume of $58.15 billion (up 50.45 per cent). According to Piyush Walke, Derivatives Research Analyst at Delta Exchange, Bitcoin 'is trading above its anchored VWAPs, reinforcing the prevailing positive market sentiment'. Further, at time of writing, Ethereum was up 7.40 per cent over the past 24 hours, to $2,677.74, with market cap of $323.26 billion (up 7.41 per cent), and volume of $26.92 billion (up 98.57 per cent). In other big names, USD linked Tether was at $1, with market cap of $155.22 billion (up 0.25 per cent), and volume of $87.48 billion (up 53.04 per cent); while the Solana token was at $158.54, with market cap of $83.22 billion (up 5.16 per cent) and volume of $3.9 billion (up 73.83 per cent). Walke noted that Bitcoin recently formed an inverted Head and Shoulders pattern on the hourly timeframe, which is 'a bullish technical setup'. 'Based on the pattern's projection, Bitcoin could target levels around $111,000. On the institutional side, Bitcoin spot ETFs recorded net inflows of $386.2 million, while Ethereum ETFs attracted $53 million, indicating growing investor interest in both assets,' he added. CoinSwitch's opinion was that a decisive break above $110k or below $100k will be needed to sustain momentum. And CoinDCX research team noted that 'investor's sentiments are slowly turning into 'greed' after a brief consolidation'. Edul Patel, Co-founder and CEO of Mudrex noted, 'the crypto market saw a strong rally, amid easing geopolitical tensions. The US and China resuming trade negotiations led to a positive investor sentiment, with the rally extending to Ethereum, Solana, and other altcoins.' 'Meanwhile, about $38 million in short positions were liquidated, reducing downside pressure. If the momentum sustains, Bitcoin could attempt a new all-time high soon, with support standing at $105,600,' he added. Key Takeaways Bitcoin's recent rally indicates a shift in investor sentiment towards optimism. Technical patterns suggest potential price targets and market trends. Short position liquidations highlight the volatile nature of cryptocurrency trading.
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Business Standard
27-05-2025
- Business
- Business Standard
Bitcoin consolidates near $108,800 levels as traders await breakout signals
Bitcoin price today, Tuesday, May 27, 2025: The crypto markets have been exhibiting a blend of optimism and caution. The flagship currency, Bitcoin (BTC), briefly reclaimed the $110,000 mark before seeing some profit-taking at higher levels; however, it has failed to hold and slipped below the $109,000 level. Market analysts suggest that the current consolidation of Bitcoin is short-term as investors are awaiting decisive breakout or breakdown signals. Bitcoin was quoted trading at around $109,108.40, down 0.50 per cent at 11:42 AM on Tuesday, May 27, with a 24-hour trading volume of $49.26 billion. Bitcoin's market capitalisation stood at $2.16 trillion, the highest among all cryptocurrencies. The world's most popular cryptocurrency has traded in the range of $109,108.40 - $110,376.88 in the last 24 hours, according to data from CoinMarketCap. Bitcoin's price, Riya Sehgal, research analyst, Delta Exchange, said, is holding near $108,800 after reaching highs above $111,900, exhibiting a clear uptrend with higher highs and higher lows on the daily chart. Short-term consolidation around the $110,000 resistance and $104,000–$105,000 support, Sehgal believes, suggests market participants are awaiting decisive breakout or breakdown signals. "A sustained move above $111,900 could fuel further upside momentum. Institutional demand remains strong, with $2.75 billion inflows into Bitcoin ETFs last week, led by BlackRock's iShares Bitcoin Trust. Ethereum ETF inflows also continue, reflecting growing confidence and adoption," said Sehgal. Analysts believe that the market sentiment has improved as Donald Trump delayed the proposed 50 per cent tariffs on EU imports. Moreover, whales and market makers remain confident as Bitcoin options trade at negative 6 per cent, which, Alankar Saxena, Co-founder and CTO of Mudrex, said, is a typical characteristic of bullish markets. Meanwhile, the M2 money supply, which reflects the total liquidity, recently hit a new all-time high. Historically, BTC has closely mirrored this trend with a slight delay, indicating further upside going forward. Ethereum and other altcoins Meanwhile, Ethereum (ETH), the world's second-largest cryptocurrency by market capitalisation, traded between $2,450 and $2,750, with resistance at $2,600 and support near $2,500, yet no clear breakout has emerged. At last check, Ethereum was trading at around $2,605.64, up 1.32 per cent, with a trading volume of $13.56 billion. Ethereum has traded in the range of $2,512.59 - $2,598.57 in the last 24 hours. Among other popular cryptocurrencies, Binance Coin (BNB) was trading higher by 0.58 per cent, while Solana (SOL) was trading lower by 1.96 per cent, and Ripple (XRP) by 1.68 per cent. Meanwhile, the US dollar-linked stablecoin Tether was trading at $1, down 0.01 per cent. Top trending cryptocurrencies today Overall, the analysts believe that the market is in a holding pattern, balancing consolidation with steady institutional interest.
Business Standard
21-05-2025
- Business
- Business Standard
Bitcoin breaks past $107k resistance: Is a new all-time high on horizon?
Crypto markets were buzzing in trade on Wednesday, May 21, 2025, with flagship currency Bitcoin (BTC) holding above the $107,500 levels. Market analysts believe this breakout above $107,500 levels could potentially open the door toward $110,000 and new all-time highs. The bellwether currency was quoted trading at around $107,575.86, up by 1.32 per cent at 10:46 AM on Wednesday, May 21. The world's most popular cryptocurrency had a 24-hour trading volume of $50.84 billion. Bitcoin's market capitalisation stood at $2.13 trillion, the highest among all cryptocurrencies. The last 24-hour trading range for Bitcoin was between $104,206.52 and $107,664.50, according to data from CoinMarketCap. Bitcoin eyes $110,000 Riya Sehgal, research analyst at Delta Exchange, believes that Bitcoin has built a strong base above the $106,000 mark, indicating solid buyer interest at lower levels. This breakout above $107,500, Sehgal believes, could potentially open the door toward $110,000 and new all-time highs. For Bitcoin, Vikram Subburaj, CEO of Giottus Crypto Platform, believes that liquidity grabs can dictate its short-term price action—a short squeeze at $109,000 followed by a long liquidity grab at $101,000. "Spot ETF inflows have dipped yesterday in a sign that a correction is in order. However, any move down is likely to be a final correction before the asset breaks through its January high," said Subburaj. Notably, Bitcoin is currently 1.42 per cent lower from its all-time high of $109,114.88, scaled on January 20 of this year. Ethereum holds above $2,500 Ethereum, on the other hand, has been showing stronger relative strength, gaining nearly 60 per cent over the last month and outperforming Bitcoin. It is trading around the $2,500 mark, a key psychological resistance. Last seen, it was quoted trading at $2,577.99, up 0.38 per cent, with a trading volume of $21.94 billion. It has fluctuated in the range of $2,446.45 - $2,576.29 in the last 24 hours. Ethereum's market cap stood at $312.01 billion, making it the second-largest cryptocurrency by market capitalisation. "For Ethereum, while structural indicators like the Golden Cross and ascending trendlines suggest a bullish setup, on-chain data points to short-term overheating. Elevated trading volumes and profit-taking around $2,500 could trigger a minor pullback or consolidation," said Sehgal. Among other popular altcoins, Cardano (ADA) was trading higher by 2 per cent, followed by Binance Coin (BNB) at 1.63 per cent, and Solana (SOL) traded higher by 0.56 per cent. Meanwhile, Ripple (XRP) was trading lower by 3.5 per cent, down 0.11 per cent. In the near term, analysts expect volatility to remain elevated, with ETH needing to hold above $2,200 and BTC above $105,000 to sustain bullish momentum. Broader market sentiment remains cautiously optimistic as we await further confirmation of trend continuation.
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Business Standard
20-05-2025
- Business
- Business Standard
Bitcoin eyes $110,000 as institutional interest fuels bullish momentum
The bellwether cryptocurrency, Bitcoin (BTC), is on track to reach a new all-time high, driven by healthier market dynamics rather than speculative excess, said analysts. However, Bitcoin faces strong resistance around the $107,000 mark before it can surpass its previous all-time high of $109,114.88. As of 11:04 AM on Tuesday, May 20, Bitcoin was trading at $106,273.30, higher by 3.18 per cent on CoinMarketCap. Over the past 24 hours, Bitcoin fluctuated between $102,112.69 and $106,814.18, with a trading volume of $57.81 billion. Bitcoin's market capitalisation stood at $2.11 trillion, maintaining its lead as the most valuable cryptocurrency. Bitcoin eyes fresh high Bitcoin's recent resurgence past the $106,000 mark, Riya Sehgal, research analyst, Delta Exchange, said, highlights a robust upward momentum reinforced by solid technical fundamentals. "The break above key support levels and targeting of the resistance zone near $107,500, suggest a strong potential for a new all-time high, driven by healthier market dynamics rather than speculative excess. Institutional interest remains a key catalyst, as evidenced by JPMorgan's recent announcement to offer Bitcoin access via spot ETFs, a significant endorsement from a major traditional finance player following Morgan Stanley's similar moves," said Sehgal. Bitcoin ETFs have now seen five consecutive weeks of inflows totaling over $600 million, led by BlackRock's IBIT, despite some outflows from some funds. Meanwhile, Vikram Subburaj, CEO, Giottus Crypto Platform, believes that Bitcoin is showing early signs of a breakout from its channel with a move towards $106,800. "Bitcoin faces strong resistance at $107,000 and must remain above $105,000 to break through this level. Spot ETF inflows continue to boost the asset with $360 million recorded yesterday. If this move sustains, a new high ($110,000) is likely this month where open interest among derivatives is concentrated," said Subburaj. Altcoins see solid gains Meanwhile, Ethereum (ETH), the second-largest cryptocurrency by market cap, is also exhibiting bullish momentum, rebounding from $2,300 support and surpassing $2,500 resistance. Last seen, Ethereum was trading 8 per cent higher at $2,566.46, with a trading volume of $26.7 billion. Ethereum has fluctuated in the range of $2,354.05–$2,585.62 in the last 24 hours. Analysts believe that sentiment for Ethereum remains bullish, and it may now be eyeing the $2,650 to $2,840 range. Among other altcoins, Solana (SOL) was trading higher by 3.89 per cent, followed by Cardano (ADA) at 3.15 per cent. Binance Coin (BNB) was trading higher by 2.18 per cent, and Ripple (XRP) traded higher by 1.8 per cent. Meanwhile, US Dollar-linked stablecoin Tether (USDT) traded at $1, up 0.03 per cent. Overall, current developments in the crypto markets, analysts said, signal a maturing crypto market with increased institutional participation and technical strength, setting the stage for continued upward trends in both Bitcoin and Ethereum.
