Coindesk

Bitcoin's BTC price chart is echoing a bullish pattern that foreshadowed the late 2024 price surge from $70,000 to $100,000 amid mounting concerns over the sustainability of the U.S. debt.The leading cryptocurrency by market value appears on track to confirm a "golden cross" in the coming days, according to charting platform TradingView. The pattern occurs when the 50-day simple moving average (SMA) of prices crosses above the 200-day SMA to suggest that the short-term trend is outperforming the broader trend, with the potential to evolve into a major bull run.The moving average-based golden cross has a mixed record of predicting price trends. The impending one, however, is worth noting because it's about to occur weeks after its ominous-sounding opposite, the...

Global economic tensions and regulatory developments continue to influence XRP's price action, with the digital asset showing remarkable resilience despite recent volatility. After experiencing a significant dip to $2.307 on high volume, XRP has established an upward trajectory with a series of higher lows, suggesting continued momentum as it approaches resistance levels. Technical indicators point to a potential bullish breakout, with multiple analysts highlighting critical support at $2.35-$2.40 that must hold for upward continuation.Technical Analysis HighlightsPrice experienced a 3.76% range ($2.307-$2.396) over 24 hours with a sharp sell-off at 16:00 dropping to $2.307 on high volume (77.9M).Strong support emerged at $2.32 level with buyers stepping in during high-volume periods, particularly during the 13:00-14:00 recovery.Asset established upward trajectory, forming higher lows...

Global economic tensions and shifting trade policies continue to influence cryptocurrency markets, with SUI showing particular resilience.The asset established a trading range of 4.46% between $3.70 and $3.86, finding strong volume support at the $3.755 level.A notable bullish momentum emerged with price surging 1.9% on above-average volume, establishing resistance at $3.850. The formation of higher lows throughout the latter part of the day suggests consolidation above the $3.775 support level.Technical Analysis HighlightsSUI established a 24-hour trading range of 0.165 (4.46%) between the low of 3.700 and high of 3.862.Strong volume support emerged at the 3.755 level during hours 17-18, with accumulation exceeding the 24-hour volume average by 45%.Notable bullish momentum occurred in the 20:00 hour with price surging 7.2 cents...

The cryptocurrency market continues to navigate complex global economic conditions as BNB trades within a tight consolidation range between $636-$646, according to CoinDesk Research's technical analysis data model.The token's price action shows resilience amid international trade disputes, with higher lows forming since recent dips while resistance remains firm around the $643-$645 zone. Decreasing volume volatility suggests energy buildup for a potential breakout, though direction remains uncertain as traders closely monitor both technical patterns and macroeconomic developments affecting market sentiment.Technical Analysis HighlightsBNB traded within a narrow $9.67 range (1.52%) between $636.25 and $645.92 over 24 hours.Price formed a series of higher lows since the 13:00 dip, establishing support around $638-$640.Resistance emerged near $643-$645 with notable volume spikes during recovery rallies.Closing...

Billions of dollars have flowed into the U.S.-listed spot bitcoin BTC exchange-traded funds (ETFs) in recent weeks, as the cryptocurrency chalked out a sharp recovery rally from $75,000 to $100,000.Most of the investment is likely driven by bold, strategic bullish directional bets rather than market-neutral arbitrage plays, data analysis suggests.The 11 spot ETFs drew in $2.97 billion in investor money in April, with an additional $2.64 billion flowing in so far this month, according to data source SoSoValue. That has boosted the net inflow since inception in January 2024 to over $41 billion.Institutions have historically used these ETFs to set up non-directional arbitrage plays to profit from price discrepancies between futures and spot bitcoin markets. The so-called cash and carry...