Schlagwort: crypto business

Key takeaways

• BTC has lost 1% of its value over the last few hours and now trades below $103,500.
• The coin could dip towards the $100k support level if bearish sentiment persists.

Bitcoin dips below $104k as bears gain control

The cryptocurrency market is having a poor weekend so far, with Bitcoin and other major cryptocurrencies currently in the red. Bitcoin, the number one crypto by market cap, has lost roughly 1% of its value over the last 24 hours, dropping below $104k in the process.

At press time, the price of Bitcoin stands at $104,400 and could dip further if the bearish sentiment continues. The bears regaining control in the last few hours resulted in $450 million in liquidations, mostly long positions.

Data obtained from CoinGlass revealed that $387 million of liquidations were tied to long positions that bet on profiting from rising prices. In a note, James Toledano, chief operating officer at Unity Wallet, stated that,

“The mixed view of whether BTC will go above $110,000 again or drop into the $90,000 area doesn’t surprise me at all and underscores the overall indecision people and markets feel. The present BTC stalemate reflects a market caught between bullish long-term sentiment and short-term macroeconomic and geopolitical uncertainty.”

BTC could dip to $100k amid bearish sentiments

Bitcoin is currently trading above $103k but could dip lower as bearish sentiment grows stronger. The ongoing conflict in the Middle East continues to affect the cryptocurrency market, with no obvious resolution in sight.

The technical indicators are pointing to a downward movement in the near term. The 4H Bitcoin MACD remains in the negative zone, indicating that sellers continue to dominate the higher-timeframe narrative. The relative strength index of 44 also suggests that Bitcoin is still facing selling pressure from investors.

If the bears continue to dominate, Bitcoin could test the $100k support level in the coming hours or days. Failure to hold the $100k support level could see BTC spiral to $90k almost immediately.
However, if the bulls regain control, BTC could target the nearest liquidity level around $106,672. An extended bullish momentum could see BTC rally towards the transactional liquidity around $109k.

The post Weekend Bitcoin price forecast: Is BTC heading towards $100k? appeared first on CoinJournal.

• The planned raise, originally targeting $1 billion at a $4 billion valuation, has been pushed to mid-July.
• Social media platform X suspended Pump.fun and the founder’s accounts on 16 June.
• The auction was initially scheduled for 25 June with a $4 billion valuation.

Solana-based memecoin launchpad Pump.fun has delayed its public token auction once again, amid rising legal uncertainty and platform moderation concerns.

The planned raise, originally targeting $1 billion at a $4 billion valuation, has reportedly been pushed to mid-July.

This marks the latest in a series of postponements that have disrupted the platform’s roadmap since planning for the launch began in 2024.

Pump.fun had initially announced a June 25 auction date, but the latest delay follows a pattern of mounting challenges.

While no official reason was cited for this week’s postponement, the timing aligns closely with growing legal pressure in several jurisdictions, including an active class action lawsuit in the US and warnings of intellectual property violations.

Social media suspensions have added to the disruption, casting uncertainty over the project’s near-term prospects.

$1 billion raise under threat as lawsuits escalate

At the heart of Pump.fun’s troubles is a class action suit filed by Burwick Law on 15 January.

The legal complaint accuses the platform of securities law violations and manipulating token prices for its own gain.

According to the filing, investors suffered significant losses due to what the plaintiffs describe as artificially inflated valuations designed to benefit the launchpad’s internal operations.

The platform, which allows users to mint and promote memecoins on Solana, is also under fire for enabling projects that allegedly misuse copyrighted names and branding.

In February, Burwick Law joined hands with Wolf Popper LLP to issue a cease-and-desist letter targeting Pump.fun.

The letter highlights repeated IP infringements by user-created tokens, which often borrow logos and branding from existing companies and public figures.

Although Pump.fun has not responded to the lawsuit publicly, the legal cloud is raising questions over its planned billion-dollar raise.

The repeated delays and lack of transparency have made it difficult for institutional and retail investors to gauge the platform’s legal standing, further complicating the valuation ahead of any token issuance.

X account suspension adds to mounting setbacks

On 16 June, social media platform X suspended the official accounts of both Pump.fun and its founder.

Though the ban lasted only a few days before the accounts were reinstated, it fuelled speculation about enforcement actions linked to ongoing legal scrutiny.

Neither Pump.fun nor X disclosed the reason for the takedown.

This isn’t the first time crypto platforms have been hit with such suspensions.

Other decentralised projects and crypto tools have also faced temporary bans in recent months, often without a public explanation.

However, the timing of Pump.fun’s ban — just days before its auction update — has drawn particular attention within the crypto community.

Despite the reinstatement, the suspension disrupted the launchpad’s communications during a critical period.

With the public auction already delayed, the temporary loss of its primary outreach channel may have undermined user trust further.

Public auction now expected mid-July, but uncertainty remains

Crypto journalist Colin Wu, who broke the news on X, stated that the new target date for Pump.fun’s token sale is now set for mid-July.

No firm date has been confirmed by the team.

The project had originally aimed to raise $1 billion from the token event, which would value the platform at $4 billion — a bold figure given the legal risks and operational headwinds it currently faces.

Pump.fun’s rise to prominence was driven by a wave of speculative activity around meme tokens on the Solana blockchain.

However, the combination of litigation, brand misuse allegations, and social media bans could put its long-term viability at risk if not addressed before the token launch.

The post Pump.fun token auction delayed again amid legal pressure, social media ban appeared first on CoinJournal.

Key takeaways

• DOGE has lost its position as the 8th-largest crypto by market cap after Tron’s TRX overtook it.
• The coin could drop to the $0.15 level as the broader sentiment remains bearish.

TRX flips Dogecoin

Tron’s TRX has been the best performer among the top 10 cryptocurrencies by market cap this week. After an excellent start to the week, TRX has now flipped Dogecoin to become the 8th-largest cryptocurrency by market cap.

At press time, Dogecoin’s market cap stands at $25.5 billion, while TRX has climbed to $26 billion. With Dogecoin trading around $0.17 per coin, it could face further selling pressure in the short term before any substantial rally.

The selling pressure comes amid the bearish conditions in the broader financial markets caused by the ongoing conflict in the Middle East. Dogecoin, Shiba Inu, and other major memecoins have been underperforming as investors are pushing funds into risk-averse assets.

Despite the current bearish conditions, analysts remain optimistic about Dogecoin’s medium to long-term potential. DOGE is still 76% down from the all-time high price of $0.7376, signalling room for growth over the coming weeks and months.

DOGE could test the $0.50 psychological level before a rally

At press time, the price of Dogecoin stands at $0.1716, up 1% in the last 24 hours. While analysts expect a rally in the medium to long term, DOGE could underperform in the short term.

The DOGE 4H chart shows that the cryptocurrency is currently bearish. The RSI of 48, down from 66 earlier this month, shows that DOGE is currently facing selling pressure. If that continues, the RSI could enter the oversold region.

The MACD has also slipped into the negative zone, indicating that the buyers have relinquished control. The negative performance could see DOGE test the support level at $0.163 before breaking down to the $0.15 psychological level.

However, if the bulls regain control of the market, DOGE could test the external liquidity level around $0.20 in the coming days or weeks.

The post Dogecoin price prediction: DOGE risks dipping to $0.15 as TRX overtakes it appeared first on CoinJournal.