Coindesk

Internet Computer Protocol (ICP) saw a volatile 24 hours, climbing from $5.84 to a session high of $6.08 before succumbing to selling pressure. The 5% swing unfolded within a $0.28 trading corridor, reflecting both strong buying interest and swift profit-taking, according to CoinDesk Research's technical analysis data model.Early momentum carried ICP through multiple resistance points, with the rally peaking at $6.08 around 03:00 UTC on August 14. Elevated volume at these highs confirmed institutional selling activity, establishing a clear resistance zone between $6.06 and $6.08. On the downside, support developed in the $5.87–$5.90 range, where buyers consistently stepped in to absorb supply.ICP’s volatility subsequently compressed sharply. The token traded in a narrow $0.04 band between $5.88 and $5.92 from 09:25...

By Francisco Rodrigues (All times ET unless indicated otherwise)The cryptocurrency market is still enjoying a rally on the back of Tuesday's higher-than-expected core inflation reading that boosted chances of a Federal Reserve interest-rate cut next month. Some traders are even calling for a 50 bps cut.The euphoria has lifted the CoinDesk 20 (CD20) index of largest cryptocurrencies more than 1% in the last 24 hours, and sent bitcoin (BTC) to a record high over $124,000 and ether (ETH) 2.2% higher to $4,750, just below its record.Headline inflation data for July came in cooler than expected, but rising core inflation fed into rate-cut expectations. On Polymarket, traders now weigh an 80% chance of a 25 basis-point cut in September, while chances...

Bitcoin (BTC) hit a record high above $124,000, and momentum has since eased off. Analysts said profit-taking by long-term holders has been capping gains above $120,000 since mid-July. The bull market remains concentrated at the top, as evident from the CoinDesk 20 (CD20) Index, which has risen over 1% in 24 hours. The CoinDesk 80 (CD80), a gauge of smaller tokens, has dropped more than 1%. "Bitcoin’s breakout beyond $124,000 has been particularly telling, a show of technical strength that reinforces its role as the market anchor, even as capital rotates into Ethereum and select altcoins," Vugar Usi Zade, COO of Bitget said in an email. "Whether this marks the opening chapter of a multi-quarter bull market expansion or the...

Bitcoin (BTC) surged past $124,000, setting its fourth all-time high of 2025. On-chain data from Glassnode suggests this could mark the early stages of a continued bull market.A key metric underpinning this view is the realized price, which measures the total value of all bitcoins at the price they were last moved on-chain, divided by the number of coins in circulation. This metric at $51,888 has now climbed above bitcoin’s 200-week moving average (200WMA), a long-term trendline often seen as a dividing line between bear and bull markets.History shows that when the realized price moves above the 200WMA and continues higher, as it did in the 2017 and 2021 cycles, the uptrend is sustained for a longer time. The 200WMA...

Dogecoin surged over 7% in the past 24 hours, fueled by more than $200 million in whale purchases and a sharp uptick in derivatives positioning. The memecoin broke through the $0.25 resistance level, triggering a volume-led breakout and sending futures open interest above $3 billion. Large-holder ownership now sits just shy of 50%, underscoring growing institutional participation. Technical patterns suggest further upside toward the $0.27 area, with bullish sentiment intact.News BackgroundWhale accumulation crossed 1 billion DOGE tokens (worth $200 million) in the past 24 hours.Large-holder ownership neared 50%, a threshold last approached during previous market tops.DOGE futures open interest surpassed $3 billion, indicating a sharp return of leveraged positioning.Broader crypto market strength supported the rally, with risk sentiment boosted by...