Hedera is poised to recover from recent lows. Improvements in overall market sentiment signal that HBAR buyers are beginning to regain control.
Key technical indicators are now pointing to a steady uptick in demand for the token, hinting at a possible price rebound.
HBAR Gears Up for Rebound as Bulls Take Charge
HBAR is showing early signs of recovery as technical indicators point to investors increasing their buying activity. For example, in recent sessions, the altcoin’s Balance of Power (BoP), which measures the strength of buyers versus sellers, has shifted in favor of the bulls. At press time, HBAR’s BoP is positive and in an uptrend at 0.21.
This indicates that HBAR buyers dominate the market and show stronger control over price action than sellers. It hints at the potential for a sustained upward move in the asset’s price.
Further, HBAR’s rising On-Balance Volume (OBV) confirms the growing buying pressure and positive momentum in the spot markets. As of this writing, the indicator is at 38.66 billion.
The OBV measures buying and selling pressure by tracking cumulative trading volume based on whether prices close higher or lower. When OBV climbs this way, it indicates that volume is flowing into the asset on up days, suggesting increasing demand and potential for a price rise.
Technical Indicator Signals Buyers Are Regaining Control
The steady rise in HBAR’s Relative Strength Index (RSI) reinforces the growing bullish momentum. Currently sitting at 52.53 and climbing, the indicator signals increasing buying pressure and a potential continuation of the upward trend.
The RSI indicator measures an asset’s overbought and oversold market conditions. It ranges between 0 and 100, with values above 70 suggesting that the asset is overbought and due for a price decline. Conversely, values under 30 indicate that the asset is oversold and may witness a rebound.
HBAR’s RSI reading indicates that the bulls are gradually regaining market dominance, which would drive up its value in the near term. If this continues, HBAR could break above the $0.20 price mark to trade at $0.23.
However, if selling activity intensifies, HBAR could resume its decline and break below $0.19. If bearish pressure strengthens, the altcoin could fall toward $0.12.
The week was notably bullish for the crypto market, with Bitcoin (BTC) reaching record highs of $111,980 and more optimistic predictions emerging. US states’ investment trends and regulatory developments dominated the spotlight, while Pi Network’s price surge also drew attention.
The following is a roundup of some of the most important developments in the crypto market this week.
14 US States Disclose $632 Million Stake in MSTR
One of the most notable developments this week in crypto was the revelation of US states’ $632 million holdings in Strategy’s MSTR stock. BeInCrypto reported that in Q1 2025, the holdings increased by an average of 42%.
“14 US states have reported $632 million in MSTR exposure for Q1, in public retirement and treasury funds. A collective increase of $302 million in one quarter,” Bitcoin Laws founder Julian Fahrer posted.
US State MSTR Stock Holdings. Source: Data Curated by BeInCrypto
California, through its state teachers and public retirement fund, led the pack with $276 million in MSTR shares, followed by Florida, North Carolina, and New Jersey. Despite a recent veto on a Bitcoin reserve bill, Arizona also increased its MSTR holdings.
Other states like Utah and Colorado showed substantial growth in MSTR investments, with the former’s holdings growing by 184% in the last quarter. On the other hand, while boosting its MSTR position by 26%, the Wisconsin Investment Board sold off its entire $300 million stake in BlackRock’s Bitcoin ETF.
Pi Network has been widely discussed since its open network launch in late February 2025. This week, Pi Coin (PI) dominated headlines due to its 11% price appreciation. BeInCrypto highlighted that the catalyst behind this uptick was an 86 million withdrawal from the OKX exchange.
This reduced OKX’s PI token balance to just 21 million. This mass movement suggested investors were holding rather than selling. This bullish signal is often associated with confidence in future price appreciation.
“This isn’t just a withdrawal—it’s a POWER MOVE by the Pi community. Scarcity is kicking in, and the market is feeling the heat!” a Pioneer posted on X.
Nonetheless, the high was fleeting. After the rise, more declines followed. Over the past day alone, Pi Coin’s value depreciated by 4.7%.
Along with its underwhelming price performance, Pi Network has faced significant criticism due to its inability to secure a listing on major exchanges like Binance or Coinbase. Concerns regarding its lack of recognition on price tracking platforms, token distribution, node centralization, and migration challenges further add to the growing list of issues.
Blum Co-Founder Vladimir Smerkis Arrested in Moscow
Another crypto-related incident this week involved the co-founder of the Telegram-based crypto project Blum. On May 18, the Zamoskvoretsky District Court in Moscow arrested Vladimir Smerkis, who previously managed Binance’s operations in Russia. Smerkis allegedly committed ‘large-scale fraud.’
“The Zamoskvoretsky District Court granted the investigator’s petition for the preventive measure of detention for Vladimir Smerkis, who was arrested in connection with a case of large-scale fraud (Article 159 of the Criminal Code of the Russian Federation),” local media reported.
In response to the arrest, Blum quickly distanced itself from Smerkis and his involvement in the project.
“We would like to inform our community that Vladimir Smerkis has stepped down from his role as CMO and is no longer involved in the development of the project or in any co-founder capacity,” Blum’s official statement read.
Fred Krueger Predicts Bitcoin Could Reach $600,000 by October 2025
This week in crypto, Bitcoin took center stage with its impressive rally. BeInCrypto was the first to report that Bitcoin reclaimed its all-time high of $108,900 after four months. However, the rally didn’t stop there, as the price continued to climb.
Yesterday, BTC peaked at a new record of $111,980, a high yet to be surpassed. Yet, analysts are increasingly optimistic about Bitcoin’s prospects moving forward.
Mathematician and analyst Fred Krueger predicted that Bitcoin’s price could surge to $600,000 by October 2025. His forecast hinges on a series of speculative developments that will begin on July 21, with BTC priced at $150,000.
“THE FINAL RUN: BITCOIN TO $600,000. Timeframe: 90 days — from Monday, July 21, 2025. Starting BTC: $150,000, Ending BTC: $600,000. Final Gold: $10,400. DXY: Collapses from 96 → 68. US 10Y Yield: Spikes to 9.2% before being “frozen” by the Fed. SPX: Collapses 50%,” Krueger stated.
The supposed catalysts for Bitcoin’s rise to $600,000 include a failed US Treasury auction, BRICS nations launching a Bitcoin-backed payment system, countries shifting reserves to Bitcoin, rising Treasury yields, a collapse in US real estate, tech companies adopting Bitcoin, and a potential restructuring of the US dollar at an October summit.
The bill, which aims to create a state-level Bitcoin Reserve, now only requires Governor Abbott’s signature to be finalized. Notably, as BeInCrypto pointed out, Governor Abbott is pro-crypto.
In fact, he posted an article about the Texas Strategic Bitcoin Reserve on his X account today, which signals a likely approval.
“It’s happening. Texas Governor, Greg Abbott, will sign Texas’ Bitcoin Reserve into law. One of the richest states will be buying Bitcoin. Get ready!!!” crypto commentator Kyle Chassé remarked.
With the Texas Senate session ending on June 2, Governor Abbott has until then to make a decision. If signed into law, Texas will become the second US state to establish its own Bitcoin Reserve, following New Hampshire.
Coinbase-backed Base, an Ethereum Layer 2 network, is set to undergo significant upgrades to make it faster, cheaper, and more decentralized.
Jesse Pollak, the lead developer of Base, posted the network’s upgrade plans on X on May 24.
Base Targets Overhaul That Could Challenge Solana and Sui
The Coinbase executive explained that the improvements would scale Base to meet rising demand from both users and developers
According to Pollak, the team is working to reduce transaction confirmation times to 200 milliseconds and keep network fees consistently under $0.01.
Those two goals are part of a broader plan to process over 200 transactions per second in the short term. Pollak confirmed that Base ultimately aims to reach 1 million TPS.
Pollak also stressed that Base is moving toward a more decentralized architecture. The plan involves shifting key components of the protocol, such as the base state transition logic, directly onto Ethereum’s Layer 1 via smart contracts.
This change would allow multiple independent developers and validators to shape the network’s evolution.
Base is undergoing several infrastructure upgrades to support these enhancements. The goal is to make it the most scalable and user-friendly Ethereum Layer 2 network.
A central part of the upgrade is Flashblocks, a system that enables near-instant “preconfirmation blocks” to give users a faster and smoother experience. The team is already running testnet trials and expects to introduce the update on mainnet by summer 2025.
The Coinbase-backed network also intends to expand its gas throughput. Base is targeting a rise from the current 25 million gas per second (Mgas/s) to 50 Mgas/s in Q2, eventually reaching 250 Mgas/s by the end of the year. This would mark a 100-fold improvement over its original capacity.
