Kategorie: Bitcoin News

• Ether (ETH) at $2,770, up nearly 11% this month, outperforming Bitcoin’s (BTC) 5% rise.
• ETH (45.2%) now overshadows BTC (38.1%) in trading volume on OKX’s perpetual futures market.
• Despite BTC volatility, institutions are “buying the dips,” with long-term holder supply growing, per Glassnode.

As Asian markets kicked off their Thursday trading, Ether (ETH) was changing hands at $2,770, having demonstrated robust performance throughout the month.

This strength, particularly in derivatives markets where it’s reportedly overshadowing Bitcoin (BTC), signals a growing institutional appetite for Ethereum’s structural growth potential and its pivotal role in bridging decentralized finance (DeFi) with traditional finance (TradFi).

Meanwhile, the broader crypto landscape is seeing a significant surge in stablecoin activity, with Tron emerging as a key beneficiary.

Ether has notably outperformed Bitcoin this month, with CoinDesk market data showing an almost 11% rise for ETH compared to BTC’s 5% gain.

This divergence is partly attributed to increasing institutional trading demand for Ethereum. Lennix Lai, Chief Commercial Officer at crypto exchange OKX, told CoinDesk in an interview that sophisticated investors are increasingly betting on ETH, a trend evident in its derivatives market activity.

“Ethereum is overshadowing BTC on our perpetual futures market, with ETH accounting for 45.2% of trading volume over the past week. BTC, by comparison, sits at 38.1%,” Lai revealed.

This finding aligns with similar trends observed on other major derivatives platforms like Deribit, as CoinDesk recently reported, suggesting a significant shift in how institutional players are allocating capital within the crypto space.

This isn’t to say that institutional interest in Bitcoin has waned. A recent report from on-chain analytics firm Glassnode indicates that despite Bitcoin’s recent price volatility, institutions have been actively “buying the dips.”

Glassnode’s analysis showed that long-term holders (LTHs) realized over $930 million in profits per day during recent BTC rallies, a distribution level rivaling those seen at previous market cycle peaks.

Remarkably, instead of triggering a broader sell-off, the supply held by these LTHs actually grew.

“This dynamic highlights that maturation and accumulation pressures are outweighing distribution behavior,” Glassnode analysts wrote, noting that this is “highly atypical for late-stage bull markets.”

Despite these underlying strengths, both leading cryptocurrencies remain susceptible to geopolitical risks and unpredictable “black swan” events, such as the recent public dispute between US President Donald Trump and tech billionaire Elon Musk.

Such episodes serve as stark reminders that market sentiment can shift rapidly, even within structurally strong markets.

However, beneath this surface-level volatility, institutional conviction appears to remain intact.

Ethereum is increasingly being viewed as the preferred vehicle for accessing regulated DeFi opportunities, while Bitcoin continues to benefit from long-term accumulation by institutions, often via Exchange Traded Funds (ETFs).

“Macro uncertainties remain, but $3,000 ETH looks increasingly likely,” Lai concluded, offering a bullish outlook for Ethereum’s near-term price potential.

Stablecoin surge: liquidity pours in, Tron leads the charge

The stablecoin market is experiencing a significant boom, recently hitting an all-time high market capitalization of $228 billion, marking a 17% increase year-to-date, according to a new report from CryptoQuant.

This surge in dollar-pegged liquidity is being driven by renewed investor confidence, buoyed by factors such as the blockbuster Initial Public Offering (IPO) of stablecoin issuer Circle, rising yields in DeFi protocols, and improving regulatory clarity in the US This influx of capital is quietly redrawing the map of where liquidity resides on-chain.

“The amount of stablecoins on centralized exchanges has also reached record high levels, supporting crypto trading liquidity,” CryptoQuant reported.

Their data indicates that the total value of ERC20 stablecoins (those built on Ethereum) on centralized exchanges has climbed to a record $50 billion.

Interestingly, most of this growth in exchange stablecoin reserves has been a result of the increase in USDC reserves on these platforms, which have grown by 1.6 times so far in 2025 to reach $8 billion.

When it comes to the blockchain protocols benefiting most from these stablecoin inflows, Tron has emerged as the clear leader.

Tron’s combination of fast transaction finality and deep integrations with major stablecoin issuers like Tether is credited with making it a “liquidity magnet.”

Presto Research, in a recently released report echoing these findings, noted that Tron notched over $6 billion in net stablecoin inflows in May alone.

This figure topped all other chains and positioned Tron with the second-highest number of daily active users, just behind Solana.

Tron was also the top performer in terms of native total value locked (TVL) growth.

In contrast, both Ethereum and Solana experienced significant stablecoin outflows and losses in bridge volume during the same period, according to Presto’s data.

This suggests a potential lack of new yield opportunities or major protocol upgrades attractive enough to retain or draw in fresh stablecoin capital on those networks.

Presto’s data confirms a broader trend: institutional and retail capital alike are increasingly rotating towards alternative Layer 1 and Layer 2 solutions like Base, Solana (despite recent outflows, it still attracts users), and Tron.

The common denominators among these favored chains appear to be faster execution speeds, more dynamic and evolving ecosystems, and, in some cases, more substantial incentive programs.

The post Ether outperforms Bitcoin in May; ETH derivatives volume surpasses BTC on OKX appeared first on CoinJournal.

• RSI remains above 50, indicating bullish momentum.
• Resistance targets include $2.38 and $2.50.
• A drop below $2.20 could invalidate the current rally.

XRP appears to be aligning itself closely with Bitcoin’s performance, as fresh data shows a 0.91 correlation between the two cryptocurrencies.

With Bitcoin hovering near $110,000, this unusually tight relationship is strengthening the case for a potential price surge in XRP.

Technical indicators like the Relative Strength Index (RSI) also suggest a build-up of buying pressure.

As broader market momentum improves, XRP’s price action is increasingly seen as part of a larger bullish wave across the crypto space, raising the possibility of a breakout beyond its current range.

Strong Bitcoin correlation boosts XRP

XRP’s 0.91 correlation with Bitcoin highlights a clear pattern: the altcoin tends to rally when Bitcoin moves upward.

This current high correlation is particularly significant, given Bitcoin’s attempt to breach its previous all-time highs.

Historically, XRP has often mirrored Bitcoin’s trends, especially during strong bull cycles.

When the correlation weakens, XRP usually underperforms, but with the metric climbing again, traders are taking this as a potential bullish signal.

Bitcoin’s recent stability near the $110,000 mark is reinforcing this sentiment.

Market watchers note that when BTC remains strong at key levels, altcoins like XRP typically gain in both price and volume.

This is setting the stage for XRP to maintain upward momentum in the near term, especially if Bitcoin continues to test resistance levels above $110,000.

RSI supports a bullish trend for XRP

One of the key indicators showing positive momentum for XRP is the Relative Strength Index (RSI), which currently remains above the neutral 50 mark.

This signals an increase in buying activity, with bulls maintaining control over the asset.

If the RSI continues in this direction, XRP could build up the strength needed to challenge higher resistance zones.

Momentum-based traders are likely to keep a close eye on this trend.

With the RSI staying above the halfway line, it reflects sustained interest in the token from both retail and institutional players.

The technical structure now favours buyers, as the RSI has consistently held in the bullish range for several days.

This upward pressure could catalyse a fresh move in the altcoin’s price.

XRP stabilises above support, targets new resistance

XRP is currently trading at $2.33. The altcoin has managed to hold above the $2.27 support level, a crucial zone for maintaining its bullish setup.

Should XRP continue to hold this level, the next target would be the $2.38 resistance, which has previously acted as a strong ceiling.

A break above $2.38 and a successful retest as support could propel XRP towards $2.50, a level that would reinforce its bullish momentum.

However, a failure to defend $2.27 could open the door to short-term weakness.

Key downside targets include $2.20 and $2.13, with a move below these levels risking a complete invalidation of the recent uptrend.

The post XRP eyes fresh gains as Bitcoin correlation hits 0.91, RSI turns bullish appeared first on CoinJournal.

• Bitcoin (BTC) traded above $110,000 for a second day, up over 1% in 24 hours, buoyed by altcoin rally.
• DeFi tokens UNI (+24%) and AAVE (+13%) surged following optimistic comments from SEC Chair Paul Atkins.
• Despite price gains, market sentiment remains cautious, with low funding rates (1.3%) typically seen at bottoms.

Bitcoin (BTC) revisited the $110,000 level for the second day in a row on Tuesday, seemingly pulled higher by even more substantial gains among various altcoins.

However, despite this upward movement, a prevailing sense of caution and skepticism among traders suggests that the sustainability of this breakout remains in question.

Bitcoin was trading just above $110,000 shortly after the close of U.S. stock markets on Tuesday, marking a gain of over 1% in the preceding 24 hours.

The broader cryptocurrency market, as measured by the CoinDesk 20 index—which tracks the top 20 cryptocurrencies by market capitalization (excluding stablecoins, exchange coins, and memecoins)—had risen by a more significant 3.3% over the same period.

This broader rally was largely attributed to strong performances from major altcoins such as Ether (ETH), Solana (SOL), and Chainlink (LINK), all of which posted gains in the 5%-7% range.

The most impressive performances of the day, however, came from decentralized finance (DeFi) tokens Uniswap (UNI) and Aave (AAVE).

These tokens soared by a remarkable 24% and 13%, respectively.

This surge was reportedly prompted by optimistic comments regarding DeFi made by Securities and Exchange Commission (SEC) Chair Paul Atkins on Monday, which appeared to inject fresh enthusiasm into the DeFi sector.

In contrast, the traditional equity markets linked to cryptocurrency showed a more subdued picture, with most crypto stocks trading flat on the day.

A notable exception was Semler Scientific (SMLR), a company aiming to emulate MicroStrategy’s (MSTR) strategy of accumulating significant Bitcoin holdings.

Semler Scientific’s shares fell another 10% on Tuesday, with the stock now trading for less than the value of the Bitcoin on its balance sheet, highlighting the risks associated with such strategies.

Defensive posturing despite proximity to highs

Despite Bitcoin’s recent gains and its proximity to previous all-time highs, positioning across cryptocurrency markets continues to reflect a largely defensive and cautious sentiment among traders.

“Funding rates and other leverage proxies point toward a steadily cautious sentiment in the market,” Vetle Lunde, head of research at K33 Research, pointed out in a Tuesday report.

“The broad risk appetite is remarkably weak, given that BTC is trading close to former all-time highs.”

This observation suggests that traders are not fully convinced of the rally’s strength and are hesitant to take on excessive risk.

Lunde further noted that Binance’s BTC perpetual swaps posted negative funding rates on multiple days last week, with the average annualized funding rate now sitting at just 1.3%.

This level, he explained, is typically associated with local market bottoms rather than tops.

“Bitcoin does not usually peak in environments with negative funding rates,” Lunde wrote, adding that past instances of such defensive positioning have more often preceded rallies than significant corrections.

Flows into leveraged Bitcoin ETFs paint a similar picture of cautious engagement.

The ProShares 2x Bitcoin ETF (BITX) currently holds exposure equivalent to 52,435 BTC, which is well below its December 2023 peak of 76,755 BTC.

Inflows into such products remain muted.

According to Lunde, this defensive positioning, paradoxically, leaves room for a potential “healthy rally” in BTC to develop, as it suggests the market is not overly leveraged or euphoric.

Skepticism greets potential breakout

However, not all market watchers are convinced that the current price action signals the beginning of a sustainable upward trend.

Some analysts remain skeptical about the durability of any breakout above the $110,000 level.

“Is this a true breakout that will continue? In my view, probably not,” said Kirill Kretov, senior automation expert at CoinPanel.

More likely, it’s part of the same volatility cycle where we see a rally now, followed by a sharp drop triggered by a negative announcement or some other narrative shift.

According to Kretov, the current market environment favors experienced traders who are adept at navigating volatility-driven market structures.

From a technical perspective, he identifies Bitcoin’s next key support levels at $105,000 and $100,000.

These are zones that could be tested if selling pressure re-emerges and the current upward momentum falters.

The market now watches to see if Bitcoin can consolidate its gains and build a stronger foundation for a continued ascent, or if skepticism will be validated by a retreat from current levels.

The post Bitcoin tops $110K for 2nd day; altcoins UNI, AAVE rally on SEC Chair comments appeared first on CoinJournal.