BITPRISMIA
The cryptocurrency market experienced significant volatility with Bitcoin reaching new highs followed by a correction, while altcoins like BNB, SOL, and ADA also showed notable gains.
The upcoming meeting between U.S. President Donald Trump and Russian President Vladimir Putin could significantly influence Bitcoin's price movement, with current low volatility in the Bitcoin options market suggesting potential for sharp price shifts.
Bitcoin's price dropped from $124K to below $118K, accompanied by a 5% plunge in open interest and a sharp decline in net taker volume, indicating a market downturn driven by long liquidations and reduced bullish momentum.
Thumzup Media Corporation is expanding its Digital Asset Treasury (DAT) following a $50 million capital raise, while Donald Trump Jr. disclosed ownership of shares in the company and other cryptocurrency holdings.
The current Bitcoin bull cycle differs from past cycles, with the NUPL metric indicating multiple peaks and a potential prolonged run influenced by spot ETFs and liquidity, though selling pressure remains a concern.
Bitcoin experienced significant volatility, reaching a new all-time high before sharply declining, with other major cryptocurrencies also seeing losses and substantial liquidations occurring.
Bitcoin reached a new all-time high above $124,500 before retracing, while Ethereum and other altcoins showed mixed performance with some gains and losses.
Bitcoin prices reached a new peak of $124,130, driven by easing global trade tensions and high US CPI, while Ethereum also neared its all-time high, with institutional capital fueling the rally.
Glassnode's weekly report highlights a strong Bitcoin price rebound, decreased spot volume and open interest, and reduced volatility, alongside mixed ETF market signals.
Bitcoin is approaching a potential new all-time high, with technical indicators and market sentiment supporting a bullish trend.