Kategorie: Bitcoin News

Bitcoin news about the Bitcoin (BTC) blockchain and its crypto ecosystem.

Veröffentlicht am

Crypto news today: Bitcoin pushes past $102K as record ETF flows, trade news fuel rally

  • Bitcoin surged over 3% in 24 hours, topping $104,000 (highest since Jan 31).
  • Nearly $400 million in bearish BTC short positions were liquidated in 24 hours (highest since Nov).
  • The significant short squeeze suggests potential for further upside as bearish pressure eases.

Bitcoin experienced a powerful upward surge in the last 24 hours, decisively breaking above key psychological levels and catching many bearish traders off guard, leading to substantial liquidations of short positions.

The rally was underpinned by positive macroeconomic news and continued strong institutional interest in the leading cryptocurrency.

The price of Bitcoin (BTC) climbed over 3% within a 24-hour period, trading around $102,500 and at one point surpassing the $104,000 mark – its highest level since January 31.

This bullish momentum was not confined to Bitcoin; the broader cryptocurrency market also rallied significantly.

The total market capitalization of all cryptocurrencies, excluding Bitcoin, surged by an impressive 10% to reach $1.14 trillion, a peak not seen since March 6, according to data from TradingView.

Two key catalysts appear to have fueled this sharp upswing.

Firstly, President Donald Trump announced a comprehensive trade deal had been reached with the United Kingdom, a development that generally boosts risk appetite in global markets.

Secondly, cumulative inflows into US-listed spot Bitcoin exchange-traded funds (ETFs) reportedly hit a new record high, surpassing $40 billion, signaling sustained and growing institutional demand for direct Bitcoin exposure.

Bearish bets decimated in short squeeze

This rapid and strong price appreciation triggered a significant “short squeeze,” where traders who had bet on Bitcoin’s price falling were forced to close their positions at a loss as the market moved against them.

According to data from Coinglass, nearly $400 million worth of bearish BTC short positions were liquidated over the past 24 hours.

This represents the highest single-day total for short liquidations since at least November.

A position is liquidated, or forcibly closed by an exchange, when adverse price movements cause a leveraged trader’s account balance to fall below the required margin level, preventing further losses.

In contrast, a relatively modest $22 million in bullish long positions were wiped out during the same period.

Implications of the imbalance: more upside ahead?

The substantial imbalance between short and long liquidations provides a telling insight into recent market positioning.

It indicates that leverage was heavily skewed towards the bearish side, meaning many traders were anticipating or positioned for a price decline.

The rapid unwinding of these short positions, as traders were forced to buy Bitcoin to cover their losses, likely exacerbated the upward price movement.

Market analysts often view such a significant liquidation of shorts as a potentially bullish signal for the near term.

It suggests that a considerable amount of selling pressure has been removed from the market, potentially clearing the path for further price gains as the prevailing sentiment shifts and buyers gain more control.

The combination of positive external catalysts and the internal market dynamics of a short squeeze could set the stage for continued upward momentum for Bitcoin and the broader crypto market.

The post Crypto news today: Bitcoin pushes past $102K as record ETF flows, trade news fuel rally appeared first on CoinJournal.

Veröffentlicht am

Standard Chartered strategist walks back $120K Bitcoin call, admits target might be ‘too low’

  • Geoffrey Kendrick pointed to several factors driving the bullish momentum.
  • As of Thursday, Bitcoin was trading just shy of the $100,000 mark.
  • Software company MicroStrategy has ramped up its Bitcoin purchases.

Bitcoin’s relentless rally is prompting some analysts to revise their boldest predictions.

Standard Chartered’s Geoffrey Kendrick, a well-known Bitcoin bull, has now admitted that his earlier forecast of $120,000 for the world’s largest cryptocurrency might be too conservative.

In an email shared with clients on Thursday, Kendrick said, “I apologise that my USD120k Q2 target may be too low,” acknowledging the accelerating momentum in Bitcoin’s price.

As of Thursday, Bitcoin was trading just shy of the $100,000 mark—up over 3% to $99,293, after briefly touching $99,897.

Kendrick, who heads digital asset research at Standard Chartered, originally predicted last month that Bitcoin would reach a record high of $120,000 in the second quarter of 2025.

His thesis was built on two major trends: a strategic shift of capital away from US assets and increasing accumulation of bitcoin by institutional “whales”—major holders with large buying power.

Now, he believes those estimates may underestimate Bitcoin’s real potential.

“The dominant story for Bitcoin has changed again,” Kendrick noted. “It is now all about flows. And flows are coming in many forms.”

Kendrick pointed to several factors driving the bullish momentum, including surging institutional investment via US spot Bitcoin ETFs.

Over the past three weeks alone, Bitcoin ETFs have seen $5.3 billion in inflows, according to his analysis.

This suggests that mainstream financial players are steadily increasing their exposure to digital assets.

He also highlighted big-ticket moves by institutional investors.

Software company MicroStrategy has ramped up its Bitcoin purchases, effectively acting as a proxy stock for Bitcoin exposure.

Meanwhile, the Abu Dhabi sovereign wealth fund has taken a position in BlackRock’s IBIT bitcoin ETF, and even the Swiss National Bank has reportedly invested in MicroStrategy shares.

With Bitcoin price predictions now being revised upward and institutional capital flowing in at record levels, Kendrick’s new outlook signals a potentially explosive summer for crypto markets.

The post Standard Chartered strategist walks back $120K Bitcoin call, admits target might be ‘too low’ appeared first on CoinJournal.

Veröffentlicht am

Pepe, dogwifhat see price gains amid altcoin spike

  • PEPE jumped to above $0.0000092, up nearly 13% as volume spiked 46%.
  • Meanwhile, dogwifhat hit highs of $0.64, also up 13% as altcoins mirrored Bitcoin gains.
  • Analysts say President Donald Trump’s announcement of a trade deal with the UK could spark further gains.

Pepe (PEPE) and dogwifhat (WIF) are among the top gainers in the crypto market today as Bitcoin rides bullish sentiment to near $100k.

The meme coins, ranked 28th and 98th by market cap on CoinMarketCap, posted double-digit gains as Bitcoin rose 3%, hitting a two-month high alongside a broader rally in risk assets.

PEPE traded at around $0.000009217, up by 12.59% at the time of writing. Whale activity suggests investor confidence.

Meanwhile, dogwifhat hovered near $0.64, up 13% in the past 24 hours.

The gains happened alongside a spike in trading volume, Pepe recording a 46% surge in daily volume to $766 million, while dogwifhat saw an increase of 44% to about $242 million.

dogwifhat, Pepe surge as crypto reacts to trade deal news

Bitcoin surged as investors reacted to President Donald Trump’s announcement of a massive trade deal between the United States and the United Kingdom.

As risk-on sentiment kicked in, equities signaled a rally with futures up. Cryptocurrencies, including the memecoins PEPE and WIF, rose alongside Bitcoin, Ethereum, and Solana.

EOS and Pudgy Penguins led the top performers.

With the trade deal likely to be among many others lined up, analysts say an easing of tariff tensions could spark fresh market optimism.

“President Trump teased a major trade deal this morning, with speculation pointing to the UK. Despite a few details, the headline alone sparked a sharp risk-on reaction across global markets,” QCP Capital analysts noted.

“Crypto jumped on the news. $BTC rose 2.74% to reclaim $99K, while $ETH surged 6.89%, breaking out of a three-week range. Options flow showed strong demand for May and June calls, signalling renewed bullish sentiment,” they added.

PEPE and WIF price outlook

While analysts urge a cautious approach as the US markets open, they see a BTC close above $100k as potentially adding to the upside.

This scenario could see meme coins soar amid capital rotation into anticipated gainers.

The surge in volume and open interest (+13% to $454 million for PEPE, and +16% to $244 million for dogwifhat) suggests strong interest in the tokens.

If this sentiment holds as BTC rallies, buying pressure could see PEPE and WIF rise to key levels.

WIF price could return to above $1 if bulls edge higher.

Meanwhile, Pepe may see a zero taken off the price range, with recent hurdles at $0.000015 and $0.000020 key.

The post Pepe, dogwifhat see price gains amid altcoin spike appeared first on CoinJournal.

Veröffentlicht am

Dogecoin faces $500 million liquidation test as price eyes $0.2 recovery

  • Ichimoku and RSI indicators show no bullish momentum.
  • The coming days could determine whether DOGE stages a recovery or slides into a deeper correction.
  • DOGE lags behind Bitcoin and Ethereum amid broader altcoin pullback.

Dogecoin is navigating a volatile phase as its price hovers just above key support levels.

After hitting a local high near $0.2, DOGE has trended downward, raising fresh doubts about the memecoin’s strength in the current market.

While leading cryptocurrencies like Bitcoin and Ethereum continue to consolidate, Dogecoin has struggled to maintain momentum.

The asset risks erasing nearly all gains from the past 30 days unless it can break through critical technical barriers and absorb significant short liquidations, estimated to exceed $500 million.

The coming days could determine whether DOGE stages a recovery or slides into a deeper correction.

$0.165 zone is critical

The Dogecoin price has hovered near a key liquidation zone at $0.165, where leverage from traders has accumulated above $500 million. This threshold is seen as a pivotal point for a potential short squeeze.

Source: CoinMarketCap

To break higher, the price may need to dip below this level to trigger liquidations, potentially forcing out short positions.

Such a move could clear the way for a stronger rebound and extend the upward trend.

This could allow bulls to target a return to $0.18 and eventually retest $0.2.

Technical signals remain weak

Technically, Dogecoin’s outlook remains weak. After failing to stay above its ascending trend line, DOGE has experienced sustained downward pressure.

The Ichimoku cloud’s conversion line is acting as stiff resistance, and there’s no indication yet of a bullish crossover.

Meanwhile, the Stochastic RSI has reversed after testing average levels, underscoring the growing influence of bearish sentiment.

DOGE is expected to test support at $0.162, a level below the $0.164 liquidation zone.

However, failure to hold this support could deepen the drawdown and prompt traders to reassess the memecoin’s long-term viability.

$0.2 in 2025?

While Dogecoin reached as high as $0.2 earlier this year, the question now is whether it can sustain such levels or rise further in 2025.

For this to happen, the token must establish consistent upward momentum, clear resistance levels, and attract renewed investor interest.

This appears challenging given its current technical weakness and absence of strong bullish signals.

Still, market volatility could favour sharp movements in either direction. If the expected short squeeze plays out after testing $0.162 support, DOGE may rally back towards $0.18 and $0.2.

But unless broader market conditions improve and sentiment shifts decisively, reaching the $0.5 mark in 2025 appears increasingly unlikely based on current data.

The post Dogecoin faces $500 million liquidation test as price eyes $0.2 recovery appeared first on CoinJournal.

Veröffentlicht am

Florida scraps Bitcoin reserve bills as state-level crypto adoption faces setbacks

  • Florida’s decision follows a broader trend of legislative setbacks surrounding Bitcoin reserve proposals.
  • Similar bills have been shelved or blocked in states like Wyoming, Pennsylvania, Oklahoma, Montana, North Dakota, and South Dakota.
  • Only 19 US states are still actively exploring legislation related to state Bitcoin reserves.

Florida has withdrawn two key bills aimed at creating a state-level strategic Bitcoin (BTC) reserve, marking a significant pause in momentum for state-driven crypto investment efforts across the US.

House Bill 487 and Senate Bill 550, both introduced in February 2025, have now been “indefinitely postponed and withdrawn from consideration,” according to the Florida Senate website.

The bills had sought to authorize the use of public funds to invest in Bitcoin, signaling a potential shift in how state reserves are managed.

With their withdrawal, Florida becomes the latest in a growing list of states backing away from formal crypto reserve legislation.

Multiple states stall on BTC investment plans

Florida’s decision follows a broader trend of legislative setbacks surrounding Bitcoin reserve proposals.

Similar bills have been shelved or blocked in states like Wyoming, Pennsylvania, Oklahoma, Montana, North Dakota, and South Dakota.

While many of these initiatives remain in early committee stages, few have progressed far enough to secure full legislative approval.

Arizona had shown the most progress earlier this year with SB 1025, which passed a state House vote before being vetoed by Governor Katie Hobbs.

The bill would have permitted investment of seized state funds into Bitcoin, representing the most advanced attempt at institutional BTC adoption at the state level.

Despite the veto of SB 1025, Arizona is still considering SB 1373, a separate proposal that would allow up to 10% of state funds to be allocated to digital assets, including Bitcoin.

However, that bill has yet to reach a final vote, and its fate remains uncertain amid growing legislative caution.

Is Bitcoin legislation losing steam nationwide?

According to data from Bitcoin Laws, only 19 US states are still actively exploring legislation related to state Bitcoin reserves (SBRs), with 36 bills under discussion.

The number has dropped significantly over the past six months, reflecting increased hesitation among lawmakers due to market volatility, fiscal risks, and regulatory uncertainty.

Much of this retreat has been attributed to concerns like those cited by Arizona Governor Katie Hobbs, who pointed to the lack of long-term historical data supporting Bitcoin’s stability or reliability for public fund management.

Despite the slowdown at the state level, Bitcoin reserve discussions are gaining traction federally.

President Donald Trump has reportedly signed an executive order directing agencies to explore the feasibility of a national Bitcoin reserve system.

Still, skepticism remains. BitMEX co-founder Arthur Hayes recently argued that the US is unlikely to meaningfully expand its crypto holdings, citing entrenched financial conservatism and cultural resistance toward Bitcoin.

The post Florida scraps Bitcoin reserve bills as state-level crypto adoption faces setbacks appeared first on CoinJournal.