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After a torrid start to August, the crypto market has made a valiant attempt to recover steep losses. The resurgence sees Bitcoin inch toward the $114,500 mark while several altcoins are approaching double-digit percentage gains in the last 24 hours. Crypto Market Racks Impressive Rebound According to TradingView data, cryptocurrency prices have soared by nearly
The post Why Is The Crypto Market Rallying Today? appeared first on CoinGape.
Bitcoin (BTC) price performed underwhelmingly on Thursday, posting a mild 2% dip before stabilizing at $89,000 while the aggregate market cap rose by 6%. With Bitcoin market dominance down, early media chatter suggests the upcoming White House crypto summit scheduled for Friday, is expected to drive another wave of volatile price action in the days ahead.
Bitcoin (BTC) performance on Thursday was underwhelming despite bullish sentiment across global financial markets, including cryptocurrencies.
BTC price formed a local bottom at $81,400 on Wednesday, before rebounding 14% after the U.S. Secretary of Commerce hinted that Trump may ease the 25% tariffs imposed on Canada and Mexico.
However, Bitcoin bulls encountered resistance at $92,790, prompting traders to shift capital toward other high-performing assets. The latest charts indicate BTC has since retraced 4% to $88,900 at press time, signaling hesitation ahead of key macro developments.
When Bitcoin underperforms the broader market, it often signals shifts in investor sentiment and risk appetite. In alignment with recent trends, the upcoming White House Crypto Summit has become a dominant discussion point among traders.
Following the announcement of the U.S. Crypto Strategic Reserve last weekend, altcoins outperformed Bitcoin’s 13% price gain.
Notably, Cardano (ADA) surged 100% within 24 hours of the announcement. Investors now anticipate that if the White House summit delivers favorable regulatory measures or investment plans for the reserve, altcoins could see another explosive rally.
Bitcoin dominance (BTC.D) has plunged 5% since Trump announced the Crypto Strategic Reserve on March 2. On Thursday, BTC.D fell 0.6 percentage points to 61.28%, indicating investors are rotating capital into altcoins, betting that regulatory clarity could fuel short-term gains beyond BTC.
David Sacks, Trump’s newly appointed Crypto Czar, has criticized the Biden administration for what he calls a massive financial blunder. Sacks pointed out that the U.S. government auctioned off 195,000 BTC over the past decade for just $366 million, missing out on $17 billion in potential profits as Bitcoin surged 4,500% since those sales.
“The Biden administration had a golden opportunity and fumbled it,”
Trump’s Crypto Czar, David Sacks, hinting that over 195,000 BTC that could have been added to US reserves, March 5, 2025.
With the White House Crypto Summit kicking off within 24 hours, expectations are mounting that the Trump administration could introduce expansive crypto-friendly policies, potentially reshaping U.S. digital asset regulation.
Bitcoin price forecast show that BTC currently hovers around $89,112, showing signs of weakness as bearish momentum gains traction. The Super SMA 5-8-13 crossover indicates a Death Cross, with the 5-period SMA ($89,626) slipping below the 8-period ($88,864) and 13-period ($88,171).
This bearish alignment suggests a potential continuation of the downtrend, with BTC at risk of retesting the $80,727 support marked by the Parabolic SAR.
Momentum indicators confirm downside risks. The MACD histogram has entered positive territory, yet the MACD line at -934 remains below the signal line at -1,663, suggesting a lack of bullish conviction.
The previous rally failed to breach key resistance, reinforcing sellers’ dominance as volume on the latest red candle suggests strong rejection above $90,000.
A decisive break below $88,171 could trigger cascading sell orders, driving BTC toward $84,000, with $80,727 as the next major support.
However, if bulls reclaim $89,626, Bitcoin could aim for a reversal, targeting $92,500 before challenging $97,500. Failure to reclaim momentum risks accelerated liquidation, reinforcing the bearish structure hinted at by the recent Death Cross.
The post Bitcoin Price Enters Risky Zone as Trump’s Crypto Czar blames Biden for missing 4,500% BTC profits appeared first on CoinGape.
The post XRP Price Prediction: Is This the Final Dip Before $3? appeared first on Coinpedia Fintech News
XRP has been struggling to find firm ground as it continues to trade in a bearish trend. Over the past week, the price dropped below a crucial support zone between $2.50 and $2.10, triggering a sharp fall toward the $1.95 to $1.92 range.
As predicted earlier, XRP did find temporary support around $1.92, bouncing slightly from that level. However, if the price breaks below $1.90 on a daily closing basis, it could trigger a further decline towards $1.80 to $1.79, which is considered the next key support zone.
For now, resistance for XRP stands between $2.16 and $2.60. A decisive breakout above $2.16 would be the first sign that the downtrend might be easing. Until then, the overall market structure remains bearish on the daily chart, with small bounces likely but no confirmed trend reversal yet.
If XRP falls below $1.79, it could enter a risky zone where lower levels like $1.56 and even $1.21 might come into play. On the other hand, a break above resistance with a strong five-wave pattern could hint at a bullish recovery starting earlier than expected.
Analyst Casi Trades has warned that XRP is once again approaching a key support level at $1.90. Casi explained that this kind of “bounce-then-final-dip” move is common before a proper bottom forms. While nothing is confirmed yet, XRP remains in a wider trading range between $2.13 and $1.55.
“This week is already full of tension in world events and in the charts. Eyes on this next test. If the reaction is strong, this may be the last low we get before wave 3 ignites,” the analyst said.
The post XRP Price Prediction: Is This the Final Dip Before $3? appeared first on Coinpedia Fintech News
XRP has been struggling to find firm ground as it continues to trade in a bearish trend. Over the past week, the price dropped below a crucial support zone between $2.50 and $2.10, triggering a sharp fall toward the $1.95 to $1.92 range. As predicted earlier, XRP did find temporary support around $1.92, bouncing slightly …
The post Is Tether’s Collapse Coming? $2B Mint Raises Serious Concerns appeared first on Coinpedia Fintech News
Tether (USDT), the world’s largest stablecoin with over $157 billion in market cap, is back in the spotlight — and not for good reasons.
An on-chain analyst has raised fresh concerns on X, exposing potential red flags that could shake crypto markets if ignored.
From a mysterious $2 billion mint on Tron to EU regulatory pressure and missing audits, the stablecoin giant is once again facing serious scrutiny.
Let’s break it down.
According to CHAIN MIND, Tether recently minted $2 billion worth of USDT on the Tron network, labeling it as “authorized but not issued.”
What does that mean? The tokens were created but are not yet released into circulation—they’re sitting in Tether’s own vault.
The analyst suggests this might be a preemptive move to handle potential market volatility, especially if large redemptions hit during a sell-off.
If investors rush to cash out their crypto into USDT or redeem USDT for dollars, Tether can release this pre-minted stash quickly to maintain stability.
Tether claims every USDT is backed 1:1 by real assets like cash, U.S. Treasury bills, and short-term investments. But here’s the catch—no full independent audit has ever been released.
In 2021, the New York Attorney General found that Tether had misrepresented its reserves and fined the company $18.5 million.
Despite promises, transparency remains a big question mark. Without an independent audit, many in the community fear a hidden reserve gap could lead to a collapse.
Europe is tightening the screws. Under the MiCA regulation, stablecoins like Tether must:
Because Tether didn’t comply, major exchanges including Binance and Kraken have delisted USDT for European users.
This regulatory block limits USDT’s access to a huge market, and raises more questions about its global sustainability.
Tether dominates over 62% of the stablecoin market volume. A sudden depeg from $1 could cause:
3 possible triggers for a USDT breakdown:
Any of these could spark a panic-driven bank run on Tether.
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If Tether does go down, what’s next?
CHAIN MIND suggests two stablecoins as safer alternatives:
However, he admits USDT still holds dominant liquidity, especially in Asia and emerging markets, making it tough to replace—unless disaster strikes.
Tether isn’t collapsing today, but the risk is real. As CHAIN MIND warns: “It will happen suddenly—when it happens.”
The crypto community should stay alert and diversified, especially during volatile cycles where trust in stablecoins is everything.
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Tether is under scrutiny due to a recent $2 billion “authorized but not issued” mint on Tron, persistent lack of a full independent audit, and new regulatory pressure from Europe’s MiCA law.
A Tether depeg could trigger massive redemptions, freeze exchange withdrawals, cause DeFi protocol failures, and lead to a cascading market collapse similar to FTX or Terra, due to its market dominance.
On-chain analysts suggest USDC (U.S.-regulated, regularly audited) and DAI (decentralized, overcollateralized) as safer alternatives. However, USDT still holds dominant liquidity, especially in Asia.
The post Is Tether’s Collapse Coming? $2B Mint Raises Serious Concerns appeared first on Coinpedia Fintech News
Tether (USDT), the world’s largest stablecoin with over $157 billion in market cap, is back in the spotlight — and not for good reasons. An on-chain analyst has raised fresh concerns on X, exposing potential red flags that could shake crypto markets if ignored. From a mysterious $2 billion mint on Tron to EU regulatory …