Category: Cryptocurrency News

Crypto analyst Merlijn has described the Bitcoin price crash to $91,000 as a major bear trap as optimism returns to the market. The flagship crypto had dropped to this level following a wave of weekend sell-offs but has since recovered above the psychological $100,000 level.  Bitcoin Price Crash To $91,000 Termed “Biggest Bear Trap” In an X post, Merlijn described the Bitcoin price crash to $91,000 as the “biggest bear trap of this cycle.” The analyst noted that this happened in the 2017 and 2021 bull runs and has now occurred in this 2025 bull cycle. He is optimistic that Bitcoin and other crypto are well primed to rally to new highs, remarking that every major bull run had a final bear trap before sending it.  Related Reading: Bitcoin Price Aims For $150,000-$170,000 With Wave Formation, Here Are The Details The Bitcoin price had crashed to $91,000 following a wave of sell-offs, which was sparked by Donald Trump’s tariffs on Mexico, Canada, and China. This raised concerns about a trade war as Mexico and Canada moved to announce tariffs on imports from the US in retaliation. However, this turned out to be a bear trap, as BTC quickly reversed its weekend loss on Monday.  The Bitcoin price reclaimed $100,000 as the US, Mexico, and Canada agreed to a one-month pause on these tariffs. The rally to the psychological $100,000 level has again sparked optimism in the crypto market, especially with altcoins rebounding alongside the flagship crypto. Merlijn warned market participants that they can either choose to get shaken out or be positioned for the biggest move yet. Merlijn also shared a chart that showed that the bull cycle is far from over. Based on the chart, the Bitcoin price will still go through the renewed optimism, FOMO, and Euphoria phase before it tops in this cycle.  What’s Next For BTC? In an X post, crypto analyst Rekt Capital stated that the Bitcoin price needs to record a daily close above $101,000 and retest it successfully to reclaim it into support. He added that a successful reclaim of this price level could lead to an uptrend continuation, with BTC rallying to around $103,000. Based on the accompanying chart he shared, the next crucial resistance for the Bitcoin price is around $106,148. Related Reading: Bitcoin Upper Band Moves Above $105,400 – Where Price Is Headed Next Crypto analyst Titan of Crypto asserted that Bitcoin’s bull market is still intact. According to him, the bullish trend remains valid as long as BTC holds a monthly close above the 38.2% Fibonacci retracement level. In an X post, he highlighted a continuation pattern that could send the Bitcoin price as high as $117,000 in the short term.  At the time of writing, the Bitcoin price is trading at around $99,500, up over 5% in the last 24 hours, according to data from CoinMarketCap. Featured image from Unsplash, chart from Tradingview.com

The fund is part of the growing RWA tokenization sector, which refers to financial and other tangible assets minted on the immutable blockchain ledger.

The cryptocurrency exchange recently secured a MiCA license, allowing it to provide services throughout the European Economic Area.

submitted by /u/Afonsoo99 [link] [comments]

The former White House communications director reportedly suggested that members of Congress running for reelection ”don’t want to be opposed by the crypto industry.”

Republican Senator Bill Hagerty introduced the Guiding and Establishing National Innovation in U.S. Stablecoins (GENIUS) Act on Tuesday, a bill aimed at creating a regulatory framework for stablecoins in the United States. The legislation is part of a broader push among lawmakers to establish clear guidelines for digital assets as the market continues to expand. […]

Key Summary: The GENIUS Act aims to provide regulatory clarity for the issuance of stablecoins in the U.S. This bill proposes regulations for stablecoin issuers based on their volume. This legislation aims to foster innovation and reinforce the U.S. dollar’s position as the world’s leading currency. Introduction: The Stablecoin Regulation Rush The crypto industry has…
Read more

I know this question has been probably asked a thousand times and you can google it but I really need some experts opinion fast. I wanna buy an NFT to enter a Fanclub for a Band (I know it's weird but it's my favorite band since a long time). The NFT costs 0.07 ETH. I…
Read more

In the aftermath of yesterday’s Bitcoin crash, market participants are closely examining whether the leading cryptocurrency by market capitalization can rebound or if it faces the prospect of another decline. In a post shared on X today, February 4, on-chain analysis data provider Lookonchain offered insights into five critical indicators that may help traders and investors assess Bitcoin’s current position. “The price of Bitcoin experienced a major crash yesterday! Will it continue to rise or fall from the top? Let’s use 5 indicators to see if BTC is at its peak now,” Lookonchain writes. #1 Bitcoin Rainbow Chart Described by Lookonchain as “a long-term valuation tool that uses a logarithmic growth curve to forecast the potential future price direction of BTC,” the Rainbow Chart is often employed to gauge whether Bitcoin might be undervalued, overvalued, or approaching a key turning point. “The NEW Bitcoin Rainbow2023 Chart shows that you can still hold BTC, and BTC will top above $250K this cycle.” Related Reading: Bitcoin Traders Fearful For First Time Since October: Buying Signal? While this chart suggests a bullish long-term trajectory, its forecasts are based on historical price patterns and may not account for unforeseen market events. Nonetheless, Lookonchain’s data indicates a view that Bitcoin has yet to reach its cycle peak. #2 Relative Strength Index (RSI) The RSI is a technical indicator measuring the magnitude of recent price changes to evaluate overbought or oversold conditions.“≥ 70: BTC is overbought and may soon fall. ≤ 30: BTC is oversold and may soon increase. The current RSI is 75.56, compared with previous data, it seems that BTC has not yet reached its peak.” An RSI reading above 70 typically raises concerns that a correction may be due. However, Lookonchain’s observation underscores their view that despite the high RSI, historical data does not necessarily confirm a definitive market top. #3 200 Week Moving Average (200W MA) Heatmap Traders often reference the 200W MA as a foundational support or resistance level. Its heatmap variation charts the broader momentum and potential inflection points over a multi-year period. “The 200 Week Moving Average Heatmap shows that the current price point is blue, which means that the price top has not been reached yet, and it is time to hold and buy.” Related Reading: Despite Bitcoin Crash, Bitwise Predicts ‘Violent’ Surge Amid Trump’s Tariffs A “blue” reading on the heatmap implies the market has not displayed the peak signals observed in prior cycles. While some might view this as indicative of further potential upside, others remain cautious given macroeconomic uncertainties. #4 Bitcoin Cumulative Value Coin Days Destroyed (CVDD) Coin Days Destroyed is a long-standing on-chain metric that focuses on how long BTC has remained in a particular wallet before being moved. CVDD aggregates this data over time, aiming to pinpoint points where Bitcoin might be undervalued or overvalued. “When the BTC price touches the green line, the $BTC price is undervalued and it is a good buying opportunity. The current CVDD shows that the top of $BTC does not seem to have been reached yet.” According to Lookonchain, Bitcoin’s position relative to this metric implies that the market has not encountered the historically observed top conditions, suggesting the possibility of further upward momentum. #5 2-Year MA Multiplier The 2-Year Moving Average Multiplier is another widely referenced model that compares Bitcoin’s current price to its two-year moving average. “The 2-Year MA Multiplier shows that the price of $BTC is in the middle of the red and green lines. It has not touched the red line and the market has not reached the top yet.” Historically, Bitcoin’s price nearing or surpassing the upper red line has often coincided with cycle peaks. Since Bitcoin remains in a mid-range position, the data suggests that a top may not have materialized yet—though this does not eliminate the risk of further volatility. Overall, Lookonchain’s analysis, based on these five indicators, points to a conclusion that the top of Bitcoin’s current market cycle may remain undiscovered. At press time, BTC traded at $99,419. Featured image created with DALL.E, chart from TradingView.com