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Bitcoin Price to Hit $110K or $90K Next?
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.
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.
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.
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.
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.
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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Cryptocurrency investors in Japan are bracing for impact following a plan to reclassify digital assets as financial products. While the plan has elicited excitement from cryptocurrency enthusiasts in the Far East, the ambitious plan will have to scale several legislative hurdles.
Japan Targets Reclassification Of Cryptocurrencies As Financial Products
According to a report by Nikkei, Japan’s Financial Services Agency (FSA) is inching toward classifying cryptocurrencies as financial products. Per the report, the FSA intends to achieve the reclassification via an amendment to the Financial Instruments and Exchange Act.
Currently, digital assets in Japan are considered crypto assets conferred with property rights and seen as payment means. Under the FSA’s plans, cryptocurrencies in Japan will be treated as financial products in the same manner as traditional financial products.
The FSA says it will adopt a slow and steady approach toward the reclassification, carrying out “a private expert study group” to test the waters. If everything goes according to plan, the FSA will submit the amended bill to Parliament in early 2026.
The classification of cryptocurrencies as financial products will have far-reaching consequences for the local ecosystem. Experts say treating cryptocurrencies as financial products will bring Japan closer to a crypto ETF launch amid a changing regulatory landscape.
Furthermore, the move may lower current cryptocurrency taxation for local investors since existing capital market rules will apply to the asset class.
A Fresh Bill For Crypto Insider Trading Is Underway
Apart from the reclassification, the FSA disclosed plans for new legislation against insider trading. The move flows treating cryptocurrencies as financial products and will strengthen existing investor protection rules.
“It is a direction to establish a new insider trading regulation that prohibits trading based on unpublished internal information,” said the FSA. “We will develop laws to prevent unfair transactions.”
However, Japan’s cryptocurrency scene is heating up to a boil, driven by local and international players. Last week, stablecoin issuer Circle secured approval from the FSA for USDC with top exchanges set to list the stablecoin.
Japan’s Metaplanet has tapped Eric Trump to join its Strategic Board of Advisors as it continues to load up Bitcoin.
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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Mike Belshe, the CEO of BitGo, has commented on the recent settlement between Mike Novogratz’s Galaxy Digital and the New York Attorney General (NYAG). Known as one of the top advocates of deregulation, Belshe, per his latest updates on X, appears to favor regulatory intervention to prevent some fraudulent practices in the industry.
BitGo CEO Comments on Galaxy Digital Settlement
Responding directly to a post from Anthony Scaramucci, Belshe said it is hard to deny that NYAG laid a compelling case against Galaxy Digital. He highlighted the firm’s pump-and-dump actions. The BitGo CEO noted that selling tokens as soon as they are vested and shilling to HODL when one is actually selling is wrong.
Notably, he reiterated his respect for Novogratz and his contributions to the industry. However, considering the NYAG’s position, Mike Belshe said Galaxy Digital’s actions are unethical.
‘So, legal overreach or not, it’s not ethical, and this type of behavior makes our entire industry look bad. Unchecked, this is what leads to “over-regulation,”’ he said, advocating for users to read the controls put onto Galaxy as part of this settlement!
The Advocacy for Crypto Regulation
As reported by CoinGape, Galaxy Digital settled with NYAG with $200 million over the controversial Terra (LUNA) sales. The BitGo CEO said if the right regulations are not in place and top leaders are this manipulative, the industry may not be taken seriously.
In his calls for oversight, Mike Belshe defined this as ‘Principles-based regulation.’ He further explained what he meant, noting that no one should lie to promote assets they hold. He also advocated that influential leaders should not tell others to buy while hiding the fact that they are selling.
Over the past few years, industry leaders have often denounced the regulation through key regulators’ enforcement tactics. Things have changed drastically since Mark Uyeda came on board as Acting Chair of the US SEC.
The commission has even established a Crypto Task Force to help introduce frameworks to guide the industry.
President Trump Fulfilling Campaign Promises
The BitGo CEO’s new crypto regulation push is not on the radar. While industry experts like John Deaton agreed with his proposition, US regulatory agencies are cleaning the house to help fulfill President Donald Trump’s campaign promises.
In a recent update, the FDIC advised Federal Banks about crypto. The commission said financial institutions under its umbrella do not need prior approval to gain exposure to the crypto industry. Thus far, this positive regulatory shift has triggered a new adoption trend for the digital currency ecosystem.
One of the core positive moves was Fidelity Investments’ launch of a stablecoin on a public blockchain.
Godfrey Benjamin
Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture.
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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The drawdown in the broader crypto market has extended to this weekend as losses shifted from Bitcoin (BTC) to altcoins. The combined market cap has lost 2.82% to $2.68 trillion, which suggests the selloff might deepen more. With the mix of bullish news in the trailing 7-day period, the question among analysts remains what is behind the latest slump.
What Is Behind Crypto Market Crash?
Since the inauguration of President Donald Trump, the broader digital currency ecosystem has witnessed positive backing.
As reported earlier by CoinGape, President Trump granted full pardon to Arthur Hayes, and other BitMEX co-founders Benjamin Delo and Samuel Reed. While this news is localized to the beneficiaries, it generally signals the positive shift in White House’ perception of the industry.
Despite these updates, the crypto market is still reeling with losses. The same Trump administration’s trade policies have continued to weigh down investor sentiment. The April 2 reciprocal tariff timeline has placed investors on the edge.
These tariffs and trade wars have ushered in economic uncertainties and potential inflation drag. With the Federal Reserve keeping rates unchanged, the impact of inflation may force traditional firms to adjust their positions. This in turn impact the crypto market sentiment overall.
Bitcoin and Altcoin Performance Review
As of writing, the price of BTC has lost its $83,000 support and currently trading at $82,476.30 per data from CoinMarketCap. The top coin has fallen by 2.43% in 24 hours and has extended its Year-to-Date (YTD) losses to 12.5%.
Top altcoins have also lost their positions with Ethereum down 2.25% to $1,846. XRP has fallen by more than 3% to $2.115, while Cardano has shed off 3.92% to $0.6721. The altcoin response has seen Dogecoin forming a wedge pattern in what may serve as a make-it-or-break-it switch for the memecoin.
While it appears as though many of these top assets are bottoming out, their correlations with Bitcoin may extend their overall drawdow.
What Next for the Crypto Market?
Thus far this year, top coins like Bitcoin have often showcased resilience in the face of massive sell-off and crypto liquidations. Although the current price floor for Bitcoin remain undefined, with analysts keeping an eye on the $82,000 floor.
The digital currency has not breached this level in close to two weeks. While legendary trader Peter Brandt agrees BTC price may fall to $65,635, this bearish projection may be averted if the $82,500 support holds through the weekend.
Altcoins may likely boost their price recovery by relying on BTC breakout and their internal fundamental updates.
Godfrey Benjamin
Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture.
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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