Kategorie: Crypto News

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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.

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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.

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Loopring price jumps 14% as daily volume skyrockets

  • Loopring (LRC) has surged more than 14% in the past 24 hours.
  • The native token of the Ethereum-based layer-2 scaling solution has also seen a massive jump in daily trading volume.
  • If bulls hold onto gains, LRC price could target highs of $0.44 in the short term.

Loopring (LRC), the native token of the Ethereum-based layer-2 scaling solution, has surged by 14% in the past 24 hours, accompanied by a notable spike in trading volume.

According to data from CoinMarketCap, the price of LRC now hovers around $0.1058, suggesting fresh interest in the decentralized finance (DeFi) protocol.

LRC’s rally, which comes with a massive spike in volume, follows Loopring’s recent announcement of its official DeFi documentation that highlights innovative earning and trading solutions.

But could this push the Loopring price higher?

Loopring price jumps to a month-high mark

As data from CoinMarketCap shows, the 14% price jump has propelled Loopring to a month-high mark above $0.10.

The gain aligns with a huge increase in trading activity, with LRC seeing a 2,600% jump in the 24 hours to over $204 million, at the time of writing.

While other coins have posted similar surges, this suggests that investors are taking notice of Loopring’s latest developments.

The project’s focus on redefining DeFi with a CeFi-like experience, while maintaining a trustless environment, seems to be resonating with the community.

It combines with Loopring’s zkRollup technology, which enables faster and cheaper transactions on Ethereum, to indicate renewed optimism.

LRC price prediction

From a technical perspective, Loopring is showing signs of a potential breakout.

The token is attempting to rebound from the lower border of a falling wedge pattern.

A look at the weekly timeframe paints this setup, usually viewed as bullish by analysts.

Loopring Price Chart From TradingView
Loopring price chart by TradingView

If this bounce confirms, LRC could rally toward $0.31 and $0.44 in the medium term.

Such a move will represent a significant recovery for the token, with the projection aligning with the historical pattern of a falling wedge.

It typically signals a reversal after a downtrend.

However, the broader market sentiment will play a crucial role.

On the downside, failure to break above this level could see LRC retest support near $0.07 and potentially $0.02.

Loopring’s fundamentals, such as its focus on DeFi innovation and layer-2 scaling, provide a strong case for growth.

Nonetheless, investors are likely to remain cautious amid inherent crypto market risks, including regulatory developments and market volatility

The post Loopring price jumps 14% as daily volume skyrockets appeared first on CoinJournal.

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Bitcoin traders brace for FOMC meeting as volatility looms

  • FOMC expected to hold rates at 4.25%–4.50%, CME tool shows 95.6% odds.
  • Swissblock flags $97K–$98.5K as key resistance zone.
  • Powell’s comments could tilt Bitcoin towards breakout or correction.

Bitcoin is trading just below $94,000 as investors prepare for Wednesday’s Federal Open Market Committee (FOMC) meeting and Jerome Powell’s post-meeting press conference.

Source: CoinMarketCap

The Fed is widely expected to keep its benchmark interest rate steady at 4.25%–4.50%, with CME FedWatch Tool data showing a 95.6% probability of a rate hold.

Despite this consensus, traders are bracing for volatility triggered by Powell’s comments on the economic outlook, inflation, and rate trajectory, which could sway risk sentiment across digital assets.

Market participants are especially focused on forward guidance, as recent economic data and geopolitical tensions have clouded expectations for rate cuts later this year.

Trading volume dips, ETF inflows slow ahead of Fed event

Bitcoin’s recent sideways movement reflects a cautious market mood.

ETF inflows have cooled, and leverage appears to be winding down as traders await clarity.

Analysts at Swissblock describe the environment as a “battle of resistance” and note that high open interest and negative funding rates point to intensified bearish bets.

They flag the $97,000–$98,500 range as a critical resistance zone.

A break above could trigger short liquidations, but a failed rally might trap bullish traders if momentum fades.

Liquidation data also supports this tension. As price hovers within a tight range, derivatives traders appear to be betting on a volatile move in either direction.

Risk appetite has cooled, but significant positioning remains open, suggesting market participants are preparing for a breakout or breakdown, depending on Powell’s tone.

Powell’s guidance could determine market direction

While no change in rates is expected this week, traders are looking for hints on the Fed’s stance for June and beyond.

In previous meetings, Powell’s words have caused major swings in crypto markets.

December 2023 saw a hawkish turn that led to a broad sell-off in risk assets, and some fear that a repeat could materialise if Powell signals further tightening or ignores recent signs of economic slowdown.

Market sentiment has been dampened by soft GDP data and renewed trade tensions with China.

The impact of President Donald Trump’s recent tariff rhetoric has raised concerns that rate cuts previously expected in June may now be delayed.

Veteran trader Mathew Dixon noted that expectations for a June cut have already flipped to a hold, further pressuring sentiment.

Gold’s recent rally is also seen as a sign of risk-off positioning. According to analysts, this suggests investors are hedging against potential shocks from the Fed’s announcement.

Bitcoin price action hinges on macro signals

Bitcoin is currently consolidating near local support as traders weigh macroeconomic uncertainty.

Degens, or high-risk crypto traders, are reportedly building long positions, anticipating a price move.

However, some analysts warn that market makers may push prices lower to trigger stop losses before a potential upside.

Swissblock’s analysis supports this view, suggesting that any breakout could be preceded by a final liquidity sweep.

Historical data offers mixed signals. Three of the last five FOMC announcements have coincided with Bitcoin rallies, but this week’s event is clouded by more complex macro conditions.

The unresolved US-China tensions, weaker consumer demand, and political pressure around inflation all weigh heavily on market sentiment.

BitMEX co-founder Arthur Hayes has previously argued that a shift back to quantitative easing could ignite a parabolic Bitcoin rally.

But in the absence of dovish signals, Bitcoin could retest recent lows in a sharp pullback.

With no clear catalyst either way, the market remains delicately balanced, awaiting Powell’s next move.

The post Bitcoin traders brace for FOMC meeting as volatility looms appeared first on CoinJournal.

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Which way for Ethereum (ETH) price with the Pectra upgrade

  • Whales have increased Ethereum (ETH) holdings from 15.5M to 19M ahead of Pectra.
  • Pectra upgrade will enable account abstraction, validator scaling, and 2× blob capacity.
  • ETH price currently faces key resistance at $1,855 and support at $1,755.

Ethereum network stands on the brink of its transformative Pectra upgrade with mere hours to go, and ETH traders and HODLers alike are scanning on-chain and technical indicators for clues to the next directional move.

Ethereum whale accumulation signals conviction

As the Pectra upgrade approaches, Ethereum’s largest stakeholders, holding between 1,000 and 10,000 ETH, have quietly increased their reserves even as prices hovered near $1,800, reflecting a deliberate accumulation phase.

These addresses rose from 4,643 wallets in early December to 4,953 wallets today, underscoring a notable surge in cold-hard conviction amid unrealised losses.

On-chain data from Glassnode illustrates that these whales aren’t merely sitting on the sidelines but are actively stacking ETH in anticipation of the upgrade’s outcomes.

The steady climb in whale-held supply from 15.5 million ETH in March to 19.0 million ETH in early May emphasises their readiness to absorb any post-upgrade volatility.

Exchange reserves have oscillated between 19.1 and 19.8 million ETH through April, revealing an uneasy tug-of-war between selling pressure and accumulation tendencies.

Since November, there has been an uptick in the Estimated Leverage Ratio, indicating futures traders are positioning for a volatility event that traders often call a liquidity squeeze.

Should HODLers offload at cost-basis thresholds above $2,000, that same leverage could exacerbate downside spirals, turning the upgrade into a catalyst for correction.

Conversely, a sustained decline in exchange reserves after the fork would signal broad confidence and reduce systemic liquidity risks.

With Coinbase and other major exchanges pausing ETH deposits and withdrawals during the upgrade window, market access will briefly tighten, potentially amplifying moves.

Traders must therefore weigh the upside from fee savings and improved scalability against the risk of temporary network congestion or unforeseen protocol bugs.

Historical precedent shows that major forks can produce sharp, short-lived spikes in implied volatility, and Pectra’s scale makes it one of the most significant since the Merge.

Ultimately, whether Ethereum surges toward the $2,000 mark or retests the sub-$1,700 zone hinges on how swiftly the network re-stabilises post-upgrade.

ETH price analysis ahead of Pectra upgrade

Ether’s price action has formed a tight consolidation range between $1,755 and $1,855, with the 100 and 200 EMA lines converging toward a bullish crossover.

This compression of moving averages and narrowing Bollinger Bands signals the potential for a decisive breakout or breakdown once the Pectra code merges.

Hourly charts show the MACD teetering in the bearish zone even as RSI sits just below the neutral 50 line, suggesting momentum remains finely balanced.

Meanwhile, supply and demand zones tracked by IntoTheBlock reveal a heavier resistance wall between $1,805 and $1,857—holding nearly 5.85 million ETH—than the support zone below.

The promise and pitfalls of Pectra

By doubling blob capacity per block from three to six, Pectra promises significant relief for Layer-2 rollups and lower transaction fees for on-chain users.

With EIP-7702 paving the way for account abstraction, Ethereum wallets will gain features like gas fee sponsorship and transaction batching that could broaden mainstream adoption.

In addition, EIP-7251’s validator consolidation, raising the stake limit from 32 ETH to 2,048 ETH, offers institutional actors a more efficient entry point, yet raises centralisation concerns.

The transition toward the EVM Object Format marks a subtle but critical enhancement to contract execution efficiency that will lay the groundwork for future protocol improvements.

As the clock ticks down to the Pectra activation slot on May 7, Ethereum’s fate lies in the delicate interaction of on-chain fundamentals, technical momentum, and network health.

Should whales, HODLers, and institutions remain steadfast, the upgrade could light the fuse for a sustained rally, fulfilling long-awaited expectations.

If, however, the price fails to clear key resistance or if reserves swell again, traders may interpret Pectra as a hype cycle rather than a structural catalyst.

The post Which way for Ethereum (ETH) price with the Pectra upgrade appeared first on CoinJournal.