Kategorie: Crypto Analysis

Key takeaways

• The cryptocurrency market reversed its recent gains, with bullish traders losing over $800 million in the last 24 hours.
• DOGE dropped by 6% after failing to hit $0.26.

DOGE dips lower on poor PPI data

The cryptocurrency market reversed its recent gains on the back of poor PPI data from the United States. Bitcoin hit a new all-time high of $124k on Thursday but quickly reversed its gains and dropped below $119k.

Ether was trading above $2,700 during the early hours of Thursday, but has lost 2% of its value since failing to surge past its current all-time high price. Meanwhile, DOGE, the native coin of the Dogecoin blockchain, was the worst performer among the top 10 cryptocurrencies by market cap, down 6% in the last 24 hours.

The bearish performance saw DOGE test the $0.21 support zone a few hours ago. It has slightly bounced back and is now trading above $0.23 per coin.

The market slump was caused by the recent Producer Price Index (PPI) data published by the U.S. Bureau of Labor Statistics on Thursday. The PPI for final demand rose 3.3% on a yearly basis in July, higher than the 2.5% analysts expected and June’s 2.4%. 

Furthermore,  the annual core PPI rose 3.7% in July, up from 2.6% in June. These data raised fresh concerns around inflation in the United States and whether the Federal Reserve will cut interest rates in its upcoming FOMC meeting.

DOGE targets the $0.25 TLQ

The DOGE/USD 4-hour chart is bearish thanks to Dogecoin’s recent performance. The technical indicators show signs of fading bullish momentum, but could recover if the bulls regain control of the market.

The MACD lines are still within the positive territory, suggesting that the bears don’t have full control yet. The MACD of 54 also shows that the DOGE/USD pair has not fully flipped bearish.

If the bulls regain control, DOGE could reclaim the nearest resistance and TLQ zone at $0.256 in the coming hours or days. An extended bullish run would allow it to surge past July’s high of $0.28. However, for that to happen, DOGE’s RSI needs to stay above the neutral 50.

On the flipside, if the bearish momentum grows stronger, DOGE could drop lower and retest last week’s low of $0.1874. The bulls would defend this level fiercely, as failure to do so could see DOGE drop below $0.15 for the first time since June.

The post DOGE dips 6% as crypto bulls suffer huge losses; Check forecast appeared first on CoinJournal.

Key takeaways

• Bitcoin hit a new all-time high of $124,457 a few hours ago as the broader crypto market rallied higher.
• BTC could be looking to continue its upward momentum and target the $130k mark next.

BTC hits a new all-time high

The cryptocurrency market has continued its positive trend after Monday’s slump. Bitcoin recovered from trading below $119k on Monday to set a new all-time high a few hours ago. 

The world’s leading cryptocurrency by market cap added over 3% to its value in the last 24 hours to hit a new all-time high price of $124,457. Bitcoin has slightly retraced and is now trading at $121,802.

The positive performance comes amid renewed optimism of a September rate cut by the United States Federal Reserve. The recent CPI data showed slowing inflation in the country, and this could prompt the Fed to cut the interest rate in its next FOMC meeting.

Today’s milestone marks the fourth time that Bitcoin has established a record high in 2025. Analysts at Standard Chartered estimate Bitcoin could reach $200,000 by year’s end if the current bullish momentum continues.

BTC Markets Crypto Analyst Rachael Lucas pointed out that Bitcoin’s price is benefiting from a “perfect storm” of institutional demand from spot exchange-traded funds and corporate treasuries. Lucas told The Block that,

Over the past month, BTC ETFs have added more than $3.6 billion, while corporate and sovereign treasuries now control 3.64 million BTC. [That’s] over 17% of the total supply. Combine that with strategic, long-term holdings, and you have structural demand meeting finite supply.

BTC could rally to $130k as demand builds

The BTC/USD 4-hour chart is bullish and efficient thanks to Bitcoin’s ongoing rally. The technical indicators have also flashed bullish despite the slump earlier this week. 

With an RSI of 61, Bitcoin is showing a bullish momentum. The MACD lines deep within the positive territory also indicate that buyers are currently in control of the Bitcoin market.

If the rally continues, BTC could surge past the recent high of $124k and surpass the $125k level in the near term. An extended rally could allow it to target the $130k region for the first time in its history.

However, Bitcoin could face a correction after hitting a new all-time high. If that happens, BTC could retest its nearest support and TLQ level at $118,422. Failure to defend this support level could see BTC dip lower to the monthly low at $111k.

The post What’s next for Bitcoin after hitting a new ATH at $124k? Check forecast appeared first on CoinJournal.

Key takeaways

• Chainlink (LINK) is one of the best performers in the top 20, up 12% in the last 24 hours.
• The coin is rallying on the back of recent partnerships.

Chainlink overtakes Hyperliquid on the market cap list

LINK, the native coin of the Chainlink blockchain, is one of the best performers among the top 20 cryptocurrencies by market cap. The coin is up 12% in the last 24 hours and is now trading above $23.

This positive performance means that Chainlink’s market cap now stands at $16 billion, surpassing Hyperliqudi’s $14 billion. This means that LINK has become the 11th-largest cryptocurrency by market cap.

The rally comes after Chainlink launched the Chainlink Reserve last week. The Reserve aims to convert revenue from Chainlink’s services and enterprise integrations into LINK tokens, establishing persistent buying momentum.

In addition to that, Chainlink announced its partnership with Intercontinental Exchange, the parent company of the New York Stock Exchange, earlier this week. This will see the two entities work together to bring foreign exchange and precious metals pricing data on-chain. The partnership showcases Chainlink’s expanding role as a bridge between traditional finance and blockchain rails.

LINK eyes $30 as bullish momentum grows

The LINK/USD 4-hour chart is one of the most bullish, thanks to the coin’s ongoing rally. The technical indicators are also bullish, with the RSI of 63 underscoring the immense buying pressure. The MACD lines also crossed over into positive territory since last month, suggesting a bullish bias.

At press time, LINK is trading at $24. If the positive momentum continues, LINK could break above the first major resistance level at $26.9 over the next few hours. An extended rally would allow LINK to test the $30 mark for the first time since December 2024. 

However, if the market undergoes a correction, LINK could retest the TLQ and support level at $21.075. The bulls would defend this level, as failure to do so could see LINK drop to the monthly low of $15.5.

The post LINK rallies 12% to overtake Hyperliquid, eyes $30; Check forecast appeared first on CoinJournal.

Key takeaways

• DOGE is up 11% in the last 24 hours and is now eyeing the $0.30 resistance level.
• Whales have been accumulating Dogecoin in recent weeks. 

Dogecoin rallies as the broader crypto market recovers

DOGE, the native coin of the Dogecoin blockchain, is one of the best performers in the top 10. The coin added 11% to its value in the last 24 hours and is now trading above $0.24.

The positive performance comes as the broader crypto market recovers from Monday’s slump. Bitcoin is trading at $120k once again, while Ether could set a new all-time high soon after surpassing $4,600.

In addition to that, whale accumulation has been the major driver behind DOGE’s price in recent weeks. Over 1B DOGE (valued at ~$200M) were acquired in recent sessions. Large-holder ownership now approaches half the circulating supply, signalling institutional confidence despite intraday volatility.

DOGE eyes the $0.3 mark as bullish momentum returns

The DOGE/USD 4-hour chart remains bullish thanks to the coin’s ongoing rally. DOGE has established a strong support at $0.220 (volume-backed morning defense) after overcoming the $0.238 resistance earlier today. 

Traders are now watching out for a possible breakout continuation, with stability of $0.232-$0.220 support band on further profit-taking. Persistence of whale accumulation flows in the coming sessions could signal further bullish momentum, while the impact of broader market volatility on meme coin positioning cannot be ignored. 

The RSI of 67 shows that buyers are in charge, with the MACD lines also within the bullish territory. If the bullish trend continues, DOGE could surge past the $0.28 resistance and hit the $0.30 mark for the first time since February.

However, the market could still undergo a correction that could see DOGE retest the $0.22 support level. Failure to defend this level could see DOGE drop below the $0.20 mark for the second time this month.

The post Dogecoin price prediction: DOGE eyes $0.30 on whale accumulation appeared first on CoinJournal.

• Ripple CTO posts Monty Python GIF after settlement.
• XRP case centred on security classification.
• Traders adopt the “buy the rumour, sell the news” approach.

Ripple’s legal battle with the US Securities and Exchange Commission (SEC) concluded last week, ending years of uncertainty over whether XRP should be classified as a security.

The outcome was expected to boost investor confidence, but XRP has instead fallen 4% today, underperforming most other major altcoins.

The unexpected drop has prompted questions about market behaviour and the impact of regulatory developments on token prices.

While the SEC now signals a shift towards developing clearer cryptocurrency rules, market reaction suggests traders may be waiting to see how these proposals translate into policy before making long-term commitments.

Ripple CTO uses Monty Python clip to mark SEC case end

Following the settlement, Ripple’s chief technology officer, David Schwartz, marked the moment with a Monty Python reference on X.

Posting a GIF from the “Salad Days” sketch, Schwartz chose a scene where a character cheerfully declares, “What a simply super day” before chaos unfolds.

The post came just days after the SEC wrapped up the prolonged case against Ripple, a lawsuit that had shaped much of the discussion around crypto regulation in the United States.

The dispute focused on whether XRP constituted a security under federal law.

Its resolution was widely expected to remove a significant source of uncertainty for Ripple and its investors.

SEC officials signal policy shift after Ripple settlement

With the case closed, SEC Chair Paul Atkins and Commissioner Hester Peirce stated they intend to work towards “clear rules of the road” for digital assets.

Ripple’s chief legal officer, Stuart Alderoty, acknowledged the development on X, expressing support for a move towards regulatory clarity.

This represents a notable change in the SEC’s tone, moving from enforcement-driven actions to signalling interest in proactive regulation.

Industry participants have long called for consistent guidelines, arguing that ambiguity in the current framework hinders innovation and deters institutional investment.

Price reaction reflects profit-taking and caution

Despite expectations of a sustained rally, XRP’s price trajectory has moved in the opposite direction.

The token surged in the immediate aftermath of the legal outcome, but gains were short-lived.

Traders appear to have adopted a “buy the rumour, sell the news” approach, a common pattern in cryptocurrency markets where prices rise in anticipation of a positive event and then fall as investors lock in profits.

The current decline also suggests some market participants may be cautious, preferring to assess the SEC’s forthcoming regulatory proposals before re-entering or increasing exposure to XRP.

Questions raised on X by traders highlight the puzzlement over the drop, given the removal of legal uncertainty that had weighed on the asset for years.

The combination of profit-taking, short-term sentiment, and anticipation of regulatory details appears to be driving the subdued market response.

Until further policy clarity emerges, XRP’s price may remain influenced by both macro-level regulation news and speculative trading behaviour.

The post Why XRP price has failed to breakout despite SEC settlement appeared first on CoinJournal.