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Bitcoin Price to Hit $110K or $90K Next?

Published

4 months ago

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The Bitcoin price is facing tough resistance and is unable to cross the $100K level despite institutional inflows. One factor that investors need to keep watch on is the long-term holders’ intensified BTC selling despite the massive buying coming from the likes of MicroStrategy and Bitcoin ETFs.

Why Bitcoin Price Faces Rejection at $100K?

Even since the mega Bitcoin rally triggered following the Donald Trump victory, long-term holders are heavily offloading their holdings. In the last 30 days, this cohort has offloaded 827,783 BTC thereby leaving a strong bearish signal in on-chain activity.

Source: Maartunn

On the other hand, institutional players have continued to buy aggressively with massive inflows into spot Bitcoin ETFs. As per popular crypto analyst Maartunn, MicroStrategy has purchased 149,880 BTC in the last 30 days while the total inflows into spot Bitcoin ETFs stand at 84,193 BTC. However, their combined inflows have been much smaller than the total sell-off by long-term holders.

Last week, spot Bitcoin ETFs netted inflows of $2.73 billion, reaching the highest-ever weekly inflows since inception. Of these, BlackRock Bitcoin ETF IBIT alone netted inflows of $2.6 billion, while crossing $50 billion AUM.

So what actually led to the Bitcoin price pump to an all-time high of $104K? Similar to the previous bull cycles, it’s the retail frenzy and shot-term holders that are capturing all the limelight. Recent data indicates that retail demand has surged to yearly highs over the past 30 days, reflecting increased activity during a strong upward trend.

Courtesy: Maartunn

Short-term holders, often dominated by retail investors, are absorbing much of the supply. Furthermore, Maartunn noted that retail participation extends beyond spot markets with the altcoin open interest surging to $53.3 billion while the Bitcoin open interest surging to $30.6 billion. This heavy retail presence in both spot and derivatives markets underscores a high-stakes “musical chairs” dynamic, noted the analyst while advising caution when market sentiment shifts.

Signs of Extreme Fear and Greed

The Crypto Fear & Greed Index has surged to 84, signaling “extreme greed” in the market—a level often associated with heightened risk and potential market tops.

Source: Maartunn

In addition to the Fear & Greed Index, other metrics, such as the Sell-Side Risk Ratio and Net Taker Volume (ETH), are also pointing toward the possibility of a market top. These signals align with bearish on-chain data observed during last week’s price movements.

Source: Maartunn

The Bitcoin price movement will depend on macro indicators with the release of U.S. Consumer Price Index (CPI) inflation figures. Adding to the spotlight, the U.S. Producer Price Index (PPI)—a key inflation gauge closely monitored by the Federal Reserve for rate-cut decisions—is also set to be announced this week.

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Bhushan Akolkar

Bhushan is a FinTech enthusiast with a keen understanding of financial markets. His interest in economics and finance has led him to focus on emerging Blockchain technology and cryptocurrency markets. He is committed to continuous learning and stays motivated by sharing the knowledge he acquires. In his free time, Bhushan enjoys reading thriller fiction novels and occasionally explores his culinary skills.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Binance Sidelines Pi Network Again In Vote To List Initiative, Here’s All

Published

2 hours ago

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April 3, 2025

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As Binance’s Vote to List initiative kicks off, the exchange has turned its back on Pi Network for the second time. Binance is proceeding with the decentralized listing program but Pi Network is noticeably absent from the raft of cryptocurrencies.

Pi Network Fails To Make Binance List

Pi Network enthusiasts are in limbo following the absence of the token in Binance’s Vote to List initiative. According to a press release, Binance has opened voting for its second Vote to List initiative.

This time, 12 tokens are up for community voting, with Binance proceeding to spot-list successful tokens. Apart from vote count, Binance says it will consider trading demand, a risk assessment, and a compliance check to decide on tokens that will make the listing.

The selected tokens include VIRTUAL, BIGTIME, UXLINK, MORPHO, GRASS, ATH, WAL, SAFE, ZETA, IP, ONDO, and PLUME. While the first focused on memecoin, the second iteration beams a searchlight on utility tokens cutting across several verticals.

Back in March, Binance excluded Pi Network from its first edition of the Vote to List initiative. Binance has clarified that only BNB-based projects will be allowed to participate in the Vote to List initiative, dousing optimism for Pi Network enthusiasts.

When Will Binance List The Asset?

Despite Pi missing out on the Vote to List program, there is still a ray of hope for community members. Binance can list Pi via a direct listing in the future but a timeline is unavailable.

Experts say a lack of transparency by The PiCoreTeam (PCT) is a reason why Binance has not listed Pi Network. Particularly, the exchange took swipes at the PCT for failing to give proper disclosures on the Pi Network’s locking and burning mechanism.

Pi Network secured a major listing on the BTCC Exchange, bringing the token closer to being listed on mainstream exchanges. While a listing hovers on the horizon for Pi, the PCT’s domain auction is gathering steam with over 200,000 bids.

Pi price has been largely underwhelming over the last day, losing nearly 5%. Pi trades at $0.6646 to drop below the $0.7 mark for the first time in over a month.

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Aliyu Pokima

Aliyu Pokima is a seasoned cryptocurrency and emerging technologies journalist with a knack for covering needle-moving stories in the space. Aliyu delivers breaking news stories, regulatory updates, and insightful analysis with depth and precision. When he’s not poring over charts or following leads, Aliyu enjoys playing the bass guitar, lifting weights and running marathons.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Why Is The Bitcoin Price Surging Today?

Published

10 hours ago

on

April 2, 2025

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Bitcoin price has risen as prices of cryptocurrencies fluctuate in preparation for President Donald Trump’s “Liberation Day” tariff implementations.

The price action follows as retaliatory tariffs are going to be imposed on a number of U.S. imports that caused uncertainty in financial markets. Bitcoin had ranged between a 24-hour low of $83,939.88 and a 24-hour high of $87,300.86, resting around $86,600 at the time of writing.

Market analysts are suggesting Bitcoin could be looking for a potential breakout if certain price levels hold through the weekly close.

Tariffs And Their Potential Impact On Bitcoin Price

CoinShares head of research James Butterfill warned in a February note that tariffs would likely have negative short-term effects on the BTC Price. “Unlike gold, bitcoin has a growth component, meaning it reacts to economic trends and liquidity cycles,” Butterfill explained.

The imposition of tariffs would slow down economic growth and decrease the demand for risk assets like cryptocurrencies. This slowdown in the economy would generally lower interest in riskier investments. This is since market participants move into more secure alternatives.

Also, tariffs raise inflation, which usually results in speculations of increased interest rates. These monetary policy changes tend to put downward pressure on Bitcoin price and other cryptocurrencies traditionally.

Another concern is Bitcoin’s correlation with stock markets during periods of economic uncertainty. Tariffs could cause a temporary price drop in crypto as traditional markets respond to the changing trade sector.

Technical Analysis Points To Possible Breakout

Analyst Rekt Capital highlighted Bitcoin’s recent price movement in a tweet. He noted that “Bitcoin has increased by +$2000 in the past hour.” The analyst suggested this places BTC close to positioning itself for a future breakout beyond the 21-week Exponential Moving Average (EMA).

Rekt Capital emphasized the importance of the weekly close. He stated that if Bitcoin closes above $87,650, it would signal a trend shift. This level has become a key point of focus for traders watching for confirmation of Bitcoin’s next directional move.

In addition to price action analysis, Rekt Capital also commented on Bitcoin’s market dominance in a separate tweet. “Bitcoin Dominance has increased between 7-9% within one month on 4 separate occasions since mid-2023,” the analyst tweeted. The current BTC dominance is only 8% away from reaching 71%.

According to Rekt Capital, another similar growth spurt in Bitcoin’s market share would comfortably push BTC dominance to that resistance level. This increasing dominance indicates capital flowing from altcoins back into Bitcoin. This is often seen during periods when investors seek the relative safety of the largest cryptocurrency.

Bitcoin price has been showing strong movement within the past 24 hours, climbing as high as $87,300.86.

The current trading range places Bitcoin near levels that technical analysts consider important for deciding future price direction. A sustained hold above the $87,000 mark would support the bullish case. Additionally, a drop below the $84,000 level might indicate further consolidation is needed.

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Vignesh

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Crypto.com Expands To Singapore Via Sony Electronics Partnership

Published

18 hours ago

on

April 2, 2025

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In a groundbreaking development, Crypto.com has joined hands with Sony Electronics, paving the way for the exchange’s expansion into Singapore. The collaboration has introduced USDC as a payment option on Sony’s online store, enabling customers to make purchases using the stablecoin.

Notably, this strategic move marks a significant milestone for Crypto.com as it aligns with the exchange’s vision of global expansion.

Crypto.com Partners Sony Electronics: Know More

Via a collaboration with Crypto.com, a top crypto exchange, the Singapore-based Sony Electronics has started accepting Circle’s USDC stablecoin for payments. According to an official press release, users can make purchases on the Sony Store Online using USDC.

Commenting on the significant development, Chin Tah Ang, General Manager of Crypto.com Singapore, acknowledged the potential implications of the move. According to him, the alliance aims to make crypto payments easier for Sony’s clients. He further stated, “This payment integration will not only benefit our users by giving them another way to utilise their crypto in the real world, but we believe adding a new and streamlined crypto payment method will also broaden SES’ customer base.”

Recently, Circle’s USDC has become the first dollar-backed stablecoin to be approved for circulation under Japan’s regulatory framework. Subsequently, Circle announced its entry into the Japanese crypto market.

Sony’s Broader Push into Blockchain & Web3

Interestingly, Sony’s collaboration with Crypto.com comes amid its larger effort to explore the potential of blockchain and web3 technologies.

Previously, Sony unveiled Soneim, an Ethereum-based Layer-2 network developed by its Singapore-based subsidiary, Sony Block Solutions Labs. This move underscores the company’s commitment to blockchain technology and its vision for a more integrated Web3 ecosystem.

Although Sony currently supports only USDC for crypto payments, the platform is considering accommodating additional cryptocurrencies. This move comes amid USDC issuer Circle’s initiative to provide an initial public offering (IPO). Circle filed for an IPO by submitting its prospectus to the SEC.

Sony Offers Exclusive Promotion for Crypto.com USDC Users

As part of the partnership, Sony Store Online provides two promotional programs for Crypto.com users to attract more customers. As per the scheme, the platform will distribute LinkBuds Speaker worth 299 Singapore dollars to the first 50 customers who spend a minimum of 300 SGD ($223) USDC on the platform via Crypto.com Pay.

Furthermore, the first 150 customers who spend at least 100 SGD in USDC will receive a 20 USDC bonus in their Crypto.com account. Notably, customers who make a purchase of 300 SGD on the Sony online store can qualify for both promotional offers, essentially doubling their rewards

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Nynu V Jamal

Nynu V Jamal is a passionate crypto journalist with three years of experience in blockchain, web3, and fintech spheres. She has established herself as a knowledgeable and engaging voice in the cryptocurrency and blockchain space. Her experience as an Assistant Professor in English Language and Literature has further added to her quest for crafting informative, well-researched, and accessible content.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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