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Crypto

Bitcoin rally still unclear; regaining $66,000-$67,000 seen as key

Bitcoin appears to have stopped falling around $64,000, but analysts say it is too early to call the start of a new bull market. U.Today reported the market looks more like a bottom-finding phase than a shift into a long-term uptrend. Technical levels show bitcoin below key medium- and long-term resistance, while momentum and on-chain indicators remain mostly weak or neutral. Analysts say bitcoin needs to reclaim $66,000 to $67,000 and then break the 200-day moving average near $72,017.

Crypto

XRP rally could stall at $2.22 sell wall

XRP is trying to regain the $1 level, but an overhang of supply from mid-term holders who bought around $2 could act as strong resistance, an analysis said. On-chain data showed the average realised price for investors who bought 6 to 12 months ago was about $2.22, well above the current price. Derivatives funding rates were mixed by exchange, while futures volume continued to dwarf spot trading. Key near-term levels were cited at $1.11 and $1.36.

Crypto

Bitcoin may not have hit a true bottom, on-chain metrics suggest further decline

On-chain analysis suggests Bitcoin may not yet have confirmed a bear-market bottom. CryptoQuant said its NUPL indicator, which tracks supply profitability, still has room to fall when compared with past bottom signals. Analyst TheChesOnChain said the NUPL 100-day exponential moving average has historically dropped below zero at cycle lows. With Bitcoin just above $63,000, the matching NUPL level is 0.215, implying more downside if past patterns repeat.