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Bitcoin price trades at $118,652 today, August 12, with a 2.18% decline. This drop comes ahead of the release of the US CPI data release. Because of this, analysts are looking at what lies ahead. Some projections suggest BTC might head to $94,000, while others are still optimistic about a rally, potentially to $141,000. Bitcoin
The post Bitcoin Price Forecast as Markets Brace For US CPI – $94,000 or $141,000 Next? appeared first on CoinGape.
Despite a sharp 10% correction from its five-month high, Hedera (HBAR) price is starting to show signs of internal strength that could set the stage for a surprise bounce.
While retail traders continue to short the asset, data reveals whales have been quietly adding to their stacks, hinting that the recent dip might be more of a shakeout than a breakdown.
HBAR price may be down from its $0.30 high, but big players are seeing it as a buy-the-dip opportunity. Since July 20, the number of wallets holding at least 1 million HBAR has jumped almost 5%, and those with 10 million or more are up almost 4.5%. That kind of activity from whales usually signals quiet accumulation, not panic.
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What confirms this move? Spot exchange netflow.
The spot netflow chart suggests that in July, exchanges have predominantly seen HBAR outflows, hinting at growing accumulation.
This metric tracks how much HBAR is entering or exiting exchanges. A strong outflow trend means holders are withdrawing tokens, less likely to be sold. In simple terms, whales are buying and moving coins off-exchange, which often sets up bullish conditions.
The On-Balance Volume (OBV) chart adds another layer of validation. OBV measures the cumulative volume flow, essentially tracking whether volume is coming from buyers or sellers. A rising OBV during a price climb shows real buying support.
For HBAR, OBV has been trending higher since early July, and even after the recent dip, it hasn’t cracked. That’s key. The whale buying and netflow behavior wouldn’t mean much if volume wasn’t backing it.
But OBV confirms it: the demand behind the scenes is still very much alive. This strengthens the accumulation narrative and hints that the dip may be running out of steam.
HBAR is currently holding just above the 0.236 Fibonacci retracement at $0.26, a level it must protect. Above this, a breakout beyond $0.30 is possible if momentum returns, led by increased whale positioning and outflows. However, $0.26 remains the key support, and a dip under that renders the bullish hypothesis weak.
While the above chart captures the broader swing, from $0.12 to $0.30, a bird’s eye view of the chart also reveals a few key levels that HBAR might need to break in order to inch towards the 5-month high.
Per the shorter swing chart, $0.28 remains a key level for HBAR to break. And the $0.26 level serves as the key support, aligning with the bigger swing or the primary chart.
All signs point to strength beneath the surface; whales are buying, supply is draining, and OBV hasn’t broken down. Yet, price hasn’t popped. That suggests the market’s waiting on a trigger, possibly a shift in retail sentiment.
The post HBAR Whales Quietly Buy the Dip While Retail Turns Bearish; Rally Ahead? appeared first on BeInCrypto.
Bitcoin (BTC) reclaimed the $93,000 threshold during the early hours of the Asian session on Wednesday. The show of strength came after President Trump articulated his position about Federal Reserve (Fed) chair Jerome Powell’s replacement talks.
Over the past several months, the pioneer crypto has demonstrated increased correlation with broader economic and political issues. This suggests that macroeconomics is growing in influence on Bitcoin.
Barely a week ago, BeInCrypto reported that a Fed chair change was imminent. This was amid the economic strain caused by Trump’s Tariffs.
The report followed Treasury Secretary Scott Bessent’s announcement that the Trump administration was planning to interview candidates to replace Jerome Powell.
Reports of opposing views between Trump and Powell concerning interest rate cuts exacerbated the idea. On the one hand, Trump wants the Fed to cut interest rates to cushion Americans from the effects of the trade wars.
“The Fed would be much better off cutting rates as US Tariffs start to transition (ease!) their way into the economy. Do the right thing,” Trump wrote on Truth Social.
On the other hand, Powell insists on a cautious approach to monetary policy decisions, rejecting further interest rate cuts. The Fed also made significant downward revisions to its 2025 economic projections.
These opposing views fanned speculation that Jerome Powell’s job as Fed chair was at risk. In a recent development, however, Trump stated that he has no plans to fire Powell.
“I have no intention of firing him…I would like to see him be a little more active in terms of his idea to lower interest rates,” Reuters reported, citing Trump telling reporters in the Oval Office on Tuesday.
In the immediate aftermath, Bitcoin shattered past the $93,000 threshold. As of this writing, BTC was trading for $93,136, representing a surge of almost 6% in the last 24 hours.
Notably, there are about 13 months left in Jerome Powell’s tenure as chair of the Federal Reserve.
BitMEX founder and former CEO Arthur Hayes commented on the swift reaction to this topic on the Bitcoin price chart.
“Trump says he wants to fire JAYPOW – dollar dips, BTC rips Trump says he has no intention of firing JAYPOW – dollar rips, BTC rips some more,” Hayes quipped.
This comment highlights market sensitivity to political uncertainty in 2025. In hindsight, the US Dollar Index (DXY) recently dropped to a 3-year low, fueled by President Trump’s push to oust the Fed chair.
In tandem, Bitcoin rallied as investors viewed it as a potential hedge against a weakening dollar and inflationary pressures.
As Trump’s stances cause market volatility, fluctuations in the dollar are bullish for Bitcoin, reflecting its appeal as a hedge against traditional financial (TradFi) instability.
BeInCrypto reported this status in a recent US Crypto News publication, citing Geoff Kendrick, the Head of Digital Asset Research at Standard Chartered.
According to Kendrick, Bitcoin is increasingly seen as a hedge against TradFi and US Treasuries risks.
“I think Bitcoin is a hedge against both TradFi and US Treasury risks. The threat to remove US Federal Reserve Chair Jerome Powell falls into Treasury risk—so the hedge is on,” Kendrick told BeInCrypto.
Meanwhile, Nate Geraci, the president of the ETF Store, says Bitcoin is benefiting from the erosion of trust in governments and politicians, which is pushing people towards alternatives.
“Bitcoin is one of the biggest winners from events over the past several weeks IMO, at least from a philosophical standpoint. Further erosion of trust in governments and politicians will push people towards alternatives. Not saying that is good or bad, but think logically,” Geraci remarked.
The post Bitcoin Reclaims $93,000 After Trump Quells Fed Chair Jerome Powell Firing Talks appeared first on BeInCrypto.
The first sale of Pump.Fun’s native PUMP token created ripples in the launchpad industry. However, this did not impact the performance of the protocols as LetsBONK.fun surpassed Pump.Fun in terms of daily revenue.
Thus, BeInCrypto has analysed three LetsBONK.fun ecosystem tokens for the investors to watch.
USELESS price is currently at $0.271, trading within a range between $0.222 and its all-time high (ATH) of $0.338. The altcoin is about 25% away from its ATH, signaling potential for further growth.
Despite a slow week, USELESS shows signs of an uptrend. The Parabolic SAR indicator is currently positioned below the candlesticks, suggesting the potential for further upward momentum.
If this trend continues, USELESS could surpass its ATH of $0.338 and push towards the $0.400 resistance, offering bullish prospects for holders.
However, if investor sentiment shifts and selling pressure increases, USELESS could face a decline. Falling below the support of $0.222 would signal weakness, and a further drop could push the price to $0.182. This scenario would invalidate the bullish outlook, highlighting the risks associated with market volatility.
HOSICO reached a new all-time high (ATH) last week at $0.077 but has since dropped, currently trading at $0.047. The meme coin now stands about 62% away from reaching its ATH again.
The 50-day EMA positioned well below the candlesticks suggests that HOSICO is likely to maintain its position above the support level of $0.040. This indicates a possibility for the altcoin to regain upward momentum and gradually rise back toward its previous ATH.
However, if HOSICO breaks through the support at $0.040, it could fall below $0.034, invalidating the bullish outlook. A significant drop would suggest that market sentiment has shifted and the previous uptrend may be reversed.
LETSBONK is currently down 12% today, with its price standing 126% away from its all-time high (ATH) of $0.259. Despite this, the altcoin experienced a 44% surge in the last 24 hours, demonstrating its ability to rebound.
Trading at $0.114, LETSBONK is holding above the support level of $0.090. To reach the ATH, the altcoin must overcome a key resistance at $0.187.
Breaching this barrier would likely trigger a fresh rally, pushing the token closer to its all-time high. With the RSI sitting in the bullish area above the neutral mark, it is likely LETBONK will rise.
However, if LETSBONK faces selling pressure in the coming days, it may fail to hold the support at $0.090. This could cause a significant drop to $0.041, invalidating the bullish outlook.
The post 3 LetsBONK.fun Ecosystem Tokens To Watch For the Third Week of July appeared first on BeInCrypto.