Need to know what happened in crypto today? Here is the latest news on daily trends and events impacting Bitcoin price, blockchain, DeFi, NFTs, Web3 and crypto regulation.
Bitcoin and Ethereum prices are falling, leading to increased bearish sentiment on prediction markets. Odds favor dumps to $55,000 for BTC and $1,500 for ETH, with traders anticipating no rate cuts this year and potential hikes.
Bitcoin nears a potential bottom between $60,000-$70,000 as nearly 20% of its supply is concentrated in this range, indicating a redistribution phase. However, a bearish technical pattern suggests a risk of falling to $53,500 if key resistance isn't reclaimed.
Hyperliquid's HYPE token has defied the crypto bear market, with open interest reaching $3 billion and a 32% weekly growth. The token rallied 44% in five days, hitting an all-time high near $77. The exchange's innovation in TradFi perpetuals, including SpaceX pre-IPO trading, is driving demand and institutional interest.
Bitcoin's price is showing signs of a potential rebound to $100,000 by September, driven by a developing double-bottom pattern and bullish divergence on its weekly chart. A break above $66,700 resistance is key, with a confirmed double-bottom suggesting a 60% upside. However, a bear flag pattern and increased whale inflows pose downside risks.
BitMine Immersion Technologies acquired 76,881 Ether last week, increasing its holdings to over 5.6 million ETH despite a market downturn. The company continues to stake over 4.1 million ETH to generate yield, aiming for 5% of the total circulating supply.
Bitcoin's recovery is linked to a potential US-Iran peace deal, with on-chain metrics showing weak momentum. Meanwhile, the CFTC has hired a former SEC crypto task force adviser, and MicroStrategy purchased 1,587 BTC, increasing its holdings to 846,842.
