Schlagwort: blockchain analysis

Key takeaways

• SOL has failed to push above the 20-day EMA and could now test the $140 support level.
• If the bulls fail to defend the $140 support, SOL could dip further towards $123 in the short term.

SOL dips 1% amid broader bearish performance

This has been a net negative week for the cryptocurrency so far. The ongoing Middle East crisis has wiped out billions of dollars from the crypto market over the past few days, and more downward correction is expected.

One of the worst performers among the top 10 cryptocurrencies by market cap is Solana (SOL). The coin has lost 8% of its value over the last seven days and could face further downward movement, fueled by market fundamentals and technical signals.

The bearish performance coincides with Bitcoin and other major cryptocurrencies underperforming. If the Israel-Iran conflict continues, SOL could record further losses in the coming days.

The neutral interest rate decision by the U.S. Federal Reserve on Wednesday also didn’t help SOL and other major cryptocurrencies.

Bears target the $140 support level

So far, the bulls have done an excellent job in defending SOL’s price around the $145 level. However, the cryptocurrency’s price action remains bearish and could test the $140 support level in the coming hours or days.

Buyers pushed SOL above the 20-day EMA ($154) earlier this week. However, they couldn’t clear the 50-day SMA ($160) hurdle. This resulted in the bears pushing the price down towards the critical $140 support level.

If the $140 level fails to hold, the SOL/USDT pair will complete a bearish H&S pattern and could eventually drop to the next support levels at $123 and $110. The RSI at 42 indicates that SOL is edging into the oversold territory.

However, if the bulls regain control and push the price above the 50-day SMA, it suggests strong buying near $140. SOL going above the 50-day SMA could keep the price between $140 and $185 for a while. The market will switch bullish once SOL closes above the $185 psychological level.

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Key takeaways

• BTC continues to trade above the $104k level despite the ongoing Middle East crisis.
• The U.S. Federal Reserve left interest rates unchanged but expects inflation to decline in the coming months.

Federal Reserve leaves interest rates unchanged

The major financial news of the week took place on Wednesday, with the FOMC confirming what many analysts already predicted. The U.S. Federal Reserve kept its key borrowing rate targeted in a range between 4.25%-4.5%, where it has been since December.

Despite that, the apex bank stated that it expects inflation to remain elevated and sees lower economic growth ahead. Furthermore, the Fed expects to make two rate reductions later this year, as previously stated.

Bitcoin, the leading cryptocurrency by market cap, didn’t react to this news as the market had already priced it in. However, Bitcoin could rally higher in the near term as traders anticipate two rate cuts before the end of the year. At press time, the price of Bitcoin continues to trade around $104,700. 

BTC could rally towards $106k amid improved technicals

The market fundamentals continue to be poor, with the United States now increasingly involved in the ongoing conflict between Iran and Israel. However, technical indicators favour a short-term rally for the world’s leading cryptocurrency.

BTC surged above the 20-day exponential moving average ($105,851) on Monday. However, the bulls failed to sustain the higher level, and it dropped to the 50-day SMA on Tuesday.

The relative strength index (RSI) is approaching the midpoint, signalling a possible rally in the near term. If Bitcoin breaks above the 20-day EMA in the short term, it could rally higher towards a new all-time high at $112k.

However, if the bears remain in control and push the price below the 50-day SMA, the BTC/USDT pair could plunge to $100,000. Bulls will likely defend the $100k psychological level, as any drop below that could see Bitcoin test the $93k support level.

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• Over 50% of some crypto protocol volumes involve stolen funds.
• $2.1 billion stolen via crypto hacks so far in 2025.
• Tron blockchain “Black U” market worth up to $10 billion.

The crypto industry is facing a fresh wave of crime, driven by a rise in politically backed meme coins and legal loopholes that continue to shield malicious actors.

Blockchain investigator ZachXBT, known for tracking on-chain fraud, warned in a recent post on X that crypto-related crimes have entered a “supercycle”, with fraudulent activities becoming more sophisticated and widespread.

His comments come amid a broader industry reckoning, as high-value hacks, phishing schemes, and the misuse of decentralised protocols threaten to undermine trust in the space.

Outdated court rulings and unchecked influencers add to the problem

According to ZachXBT, one of the major reasons behind the crime surge is the way courts continue to side with exploiters of smart contracts due to obsolete legal frameworks.

In many cases, those who manipulate decentralised systems walk free because judges interpret code-based exploits as fair use rather than theft.

He also highlighted the role of influencers and key opinion leaders (KOLs) who promote fraudulent crypto projects without facing any consequences.

In jurisdictions where failing to disclose paid advertisements is illegal, enforcement remains weak or non-existent.

ZachXBT estimated that regulators could have made between $50 million and $100 million in fines over the years by holding such individuals and projects accountable.

In a tweet, he remarked that “if you ever wanted the opportunity to extract from the industry, there’s not been much of a better time,” referencing the sense of lawlessness currently dominating the ecosystem.

He added that over half of all transaction volume in certain protocols involves stolen funds, and yet teams continue to collect fees without scrutiny.

Criminals exploit blockchain transparency and weak oversight

While blockchain technology allows for full transaction transparency, which helps trace illicit funds, ZachXBT said that it also enables crime by giving bad actors insight into network activity and vulnerabilities.

North Korean-linked groups such as Lazarus have allegedly taken advantage of this.

ZachXBT suggested that laundering groups and OTC brokers have successfully processed stolen funds from platforms like Bybit, DMM Bitcoin, and WazirX.

These operations often go undetected for extended periods due to the volume and complexity of transactions involved.

He also claimed that a shadow market, dubbed “Black U,” has emerged on the Tron blockchain, with an estimated value between $5 billion and $10 billion.

Much of this activity is suspected to involve laundering operations that are difficult to track despite blockchain records.

Losses continue to mount across the industry in 2025

ZachXBT’s warning coincides with mounting evidence of damage. According to blockchain security firm CertiK, more than $2.1 billion has been lost to crypto attacks in 2025 so far.

In May alone, cybersecurity company PeckShield reported 20 significant crypto hacks amounting to $244.1 million in stolen assets.

Although this marks a 39.29% decrease from April, the scale of ongoing theft remains alarming.

The recent rise in data leaks has further exposed user vulnerabilities, highlighting the need for stronger protections.

ZachXBT concluded his remarks by questioning whether systemic change would only occur after large-scale losses force regulators to act.

For now, the combination of speculative mania, regulatory gaps, and unchecked promotion continues to create a fertile environment for crypto-related crime.

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Key takeaways

• SHIB has dropped to the 19th place in the market after hitting a two-month low a few hours ago.
• The coin could dip lower to the $0.00001030 support level if market conditions persist.

SHIB hits a two-month low

SHIB, the native coin of the Shiba Inu ecosystem, has been underperforming in recent days. The coin has lost 12.6% of its value over the last seven days and has dropped to the 19th place in the cryptocurrency market. 

The decline occurred amid broader crypto market losses and U.S. stock market weakness. SHIB recorded a massive sell-off after failing to break the $0.00001230 resistance level, with trading volumes exceeding 1.2 billion tokens.

The sell-off saw SHIB hit a two-month low price of $0.00001148 and could dip further in the short term. According to market analysts, SHIB’s performance can be attributed to global economic factors and trade disputes, contributing to increased volatility in the cryptocurrency market.

SHIB’s decline yesterday happened after President Donald Trump downplayed reports of his administration seeking a truce with Iran and threatened the assassination of Iran’s Supreme Leader, Ayatollah Ali Khamenei. The president also called for Iran’s unconditional surrender in the ongoing war with Israel.

SHIB could test the $0.00001030 support level

The fundamentals are currently bearish and Shiba Inu’s technical indicators back it up. With a Relative Strength Index (RSI) of 39, SHIB is currently in the oversold region and could face further selling pressure if the bearish momentum continues.

 

The MACD is also in the negative zone, indicating that the bears are currently in control. After failing to hold the $0.00001230 support level, SHIB could test the next support level at $0.00001030 in the coming days. If that happens, it would be the first time SHIB is trading that low since the first week of April.

However, market fundamentals remain in play. The activities in the ongoing Israel-Iran conflict could determine if SHIB and other major cryptocurrencies bounce back soon. If there is a ceasefire between the two countries, SHIB and the broader crypto market could experience a temporary rally.

Furthermore, traders are looking ahead to today’s FOMC meeting. The results could give insights into the Fed’s interest rate policies for the remainder of the year.

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Key takeaways

• SEI is one of the best performers among the top 100 cryptocurrencies by market cap, up nearly 2% in the last 24 hours.
• It could rally to the $0.2 level despite the bearish market conditions.

SEI outperforms the broader crypto market

SEI, the native coin of the Sei ecosystem, is one of the best performers among the top 100 cryptocurrencies by market cap. It added nearly 2% to its value over the last 24 hours and now trades around $0.17.

There is no catalysts behind SEI’s latest positive performance as the broader crypto market underperforms. Bitcoin and other major cryptocurrencies are currently in the red as the ongoing conflict in the Middle East continues to affect the broader financial markets.

The total cryptocurrency market cap has declined to $3.25 trillion, down 1.54% in the last 24 hours. However, SEI is the best performer in the top 100 as it added 2% to its value during that period.

SEI targets the $0.2 resistance level

SEI could rally higher in the near term if the bulls remain in control. The technical indicators are turning positive, but SEI is still subject to events in the broader cryptocurrency market.

If the bullish momentum increases, SEI could be testing the $0.2 resistance level in the coming hours or days. However, with the broader market still bearish, SEI could likely retest the $0.15 support level soon.

The MACD is still within the negative territory, indicating that SEI is still bearish in the higher timeframe. Furthermore, with an RSI of 42, SEI is still in the sold region and could experience further selling pressure if it doesn’t hit the 50 RSI level soon.

However, the market could grab liquidity around the $0.1871 region before any downward movement. Traders should keep an eye on today’s FOMC as that could play a key role in SEI’s performance in the near term.

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