Coindesk

This is a daily technical analysis by CoinDesk analyst and Chartered Market Technician Omkar Godbole.Bitcoin's BTC spot price has surpassed $111,000 and could rise by another 30% to exceed $140,000.That's the message from the daily price chart of BlackRock's Nasdaq-listed spot bitcoin ETF, known by its IBIT ticker, which shows a bull flag breakout.The ETF, mandated to closely track the BTC spot price, rose 2.85% on Wednesday, briefly surpassing the May high of $63.70, according to data source TradingView.The advance reconfirmed the flag breakout seen early this month, a sign that the five-and-a-half-week counter-trend consolidation has ended and the broader uptrend from April lows has resumed.Flags are bullish continuation patterns, and breakouts typically see analysts anticipate a price rally equal...

Ethereum's native token, ether ETH, rose nearly 6% Wednesday, outperforming bitcoin (BTC), XRP (XRP) and solana's SOL (SOL) as expected. The outperformance saw record trading activity in BlackRock's spot ether exchange-traded fund (ETF), ETHA, listed on Nasdaq.More than 43 million shares of ETHA changed hands Wednesday, the highest single-day tally since the fund's debut a year ago, nearly doubling from the previous day's total of 24 million, according to data source Yahoo Finance.Daily volumes have been rising for over a month, as evidenced by the 30-day average, which has climbed to a record 18.83 million from 12.97 million in early June, according to data source TradingView.The ETF has also seen brisk inflow of investor money, pointing to a bullish market...

Shiba Inu's (SHIB) dollar-denominated price hit a one-month high, charting a bullish trend against Bitcoin. However, the outlook against its rival, dogecoin, doesn't look as promising.SHIB has gained 5.2% in the past 24 hours, reaching a high of $0.00001255 on Coinbase, the level last seen on June 12. As of writing, the cryptocurrency teased a breakout into bullish territory above the widely tracked 50-day simple moving average (SMA) at $0.00001242.Key AI insights based on the 24-hour price actionInstitutional flows drove prices from $0.00001215 to a peak of $0.00001250 between 19:00 and 20:00 on July 9, with an exceptional institutional volume of 1.25 trillion tokens.Strong institutional resistance has been established around the $0.00001250 level, significantly exceeding the average daily institutional volume...

The U.S.-listed spot bitcoin (BTC) exchange-traded funds (ETFs) have attracted billions in investor capital in three months, amid increasing political pressure on the U.S. Federal Reserve (Fed) to cut rates. The relentless flows are now forcing "under-positioned" traders to chase upside through derivatives, reviving the bullish momentum in the cryptocurrency, according to Markus Thielen, founder of 10x Research."The sharp surge in bitcoin ETF inflows since late April 2025 has been primarily driven by political pressure on the Federal Reserve, with Donald Trump openly demanding that Chair Jerome Powell cut rates to 1% and resign. What began as a partisan push has since broadened, with Federal Housing Finance Agency director Bill Pulte and Senator Cynthia Lummis also calling for Powell to...

Dogecoin posted a powerful 6% surge during the July 9–10 trading session, blasting through resistance in an explosive rally before retreating into a sharp late-session reversal. News Background: Trade Pause and Rate Bets Fuel Risk RallyMarket sentiment improved after the U.S. extended its “Liberation Day” tariff deadline by three weeks, buying time for trade negotiations and easing short-term pressure on risk assets. Meanwhile, expectations of a July Fed rate cut are climbing, with major banks pricing in 25–100bps in cuts over Q3 if inflation data underwhelms next week. These macro shifts gave crypto markets a tailwind, helping DOGE and other high-beta assets bounce sharply off key support levels.Price Action SummaryDOGE surged 6% from $0.170 to $0.186 between July 9 03:00...