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Donald Trump’s DeFi platform, World Liberty Financial (WLFI), has made a massive purchase by tripling its Ethereum (ETH) holdings, even as prices dropped below $2,000. Despite the market crash, WLFI continues to invest heavily in crypto, showing confidence in its long-term growth.
WLFI Tripled Ether Holdings In a Week
According to on-chain data from Lookonchain, WLFI recently transferred $25 million USDC into a newly created multi-signature wallet, signaling its intent to expand its crypto portfolio. The fund executed major purchases, including;
4,468 ETH for $10 million at an average price of $2,238 per ETH.
110.6 Wrapped Bitcoin (WBTC) for $10 million at $90,420 per BTC.
3.42 million MOVE tokens for $1.5 million at $0.439 per token.
With about $3.5 million USDC still available, speculation is rising that WLFI could continue adding to its holdings soon.
Currently, ETH remains WLFI’s largest holding with $16.34 million, followed by $14.8 million in WBTC and $13.25 million in USDT stablecoins.
WLFI Faces Heavy Losses
Despite buying more crypto, WLFI is facing over $89 million in unrealized losses across nine tokens. This comes at a time when the crypto market is struggling due to big events like the $1.4 billion Bybit hack, the largest in crypto history, and other economic concerns.
While many investors are moving toward real-world assets (RWA) for safety, WLFI is taking a different path, believing in a long-term crypto comeback.
WLFI’s Crypto Fund Expands Strategy
WLFI’s recent investments come after launching its Macro Strategy fund, which focuses on Bitcoin, Ethereum, and selected altcoins. The goal is to build a strong and balanced crypto portfolio while exploring new opportunities in DeFi.
Meanwhile, speculation is growing that Trump’s family may launch “one or more giant businesses” on Ethereum and even hinted at the possibility of Ethereum being used in government operations noted by Ethereum co-founder Joseph Lubin.
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Donald Trump’s DeFi platform, World Liberty Financial (WLFI), has made a massive purchase by tripling its Ethereum (ETH) holdings, even as prices dropped below $2,000. Despite the market crash, WLFI continues to invest heavily in crypto, showing confidence in its long-term growth. WLFI Tripled Ether Holdings In a Week According to on-chain data from Lookonchain, …
Bitcoin (BTC) price is trading with a bullish bias, confronting the resistance at $94,000 with prospects for more gains. However, a renowned analyst says to temper Bitcoin rally hopes, citing a crucial indicator.
For a sustained rally, capital needs to enter the market consistently, as this provides the liquidity needed for further upside.
The Bitcoin price outlook was bullish on Wednesday during the early hours of the Asian session. Bullish technical formations, including the falling wedge pattern, hinted at further upside for the pioneer crypto.
As of this writing, Bitcoin was trading for $93,714, with up to 9% of a 20% potential rally still in the cards. The falling wedge pattern’s target objective is the 20% climb, determined by measuring the longest height of the wedge and superimposing it at the breakout point.
This bullish reversal is already in action after Bitcoin price flipped the critical resistance at $85,000 into support and converted the support zone into a bullish breaker.
Based on the daily chart above for the BTC/USDT trading pair, a daily candlestick close above $91,575 could set the tone for Bitcoin’s price to move further upside.
Increased buying pressure beyond the immediate resistance at $94,000 could see Bitcoin price eye $100,000 next. BTC could extend to the $102,239 target objective in a highly bullish case.
Technical indicators align with this outlook. The Relative Strength Index (RSI) is rising, recording higher highs, suggesting growing momentum. Its position below 70 indicates there was still more room upward before BTC was overbought and at risk of correction.
Similarly, the Awesome Oscillator (AO) histograms flashed green, indicating bullish control. Their position above the midline (in positive territory) adds credence to the bullish thesis.
However, 10x Research’s head of research, Markus Thielen, urges caution, citing the lagging stablecoin minting indicator.
“Given that our stablecoin minting indicator has yet to return to high-activity levels, we remain cautious about the sustainability of the current Bitcoin rally,” Thielen wrote in the latest 10X research.
The stablecoin minting indicator refers to the issuance or creation of new stablecoins, such as Tether (USDT) or USD Coin (USDC). Stablecoin minting often signals capital entering the crypto market, and it can have several implications for Bitcoin’s price.
Among them are increased liquidity and confidence in the market as investors anticipate profitable opportunities. Both of these are signs of potential bullish pressure.
According to the analyst, the absence of strong stablecoin inflows “raises questions about follow-through.” Bitcoin’s rally to the $100,000 psychological level remains under threat.
Bitcoin vs Stablecoin Minting Indicator. Source: 10X research
Nevertheless, if profit-taking commences, a candlestick close below the midline of the bullish breaker at $86,562 could reverse the trend. This could plunge Bitcoin back into consolidation below the crucial level of $85,000.
Pi Network (PI) has been struggling to recover from recent losses. Despite attempts to push past the $0.71 resistance level, the altcoin is currently unable to gain significant upward momentum.
As of now, PI is sitting at $0.63, and its future movements remain uncertain. Investors are growing increasingly skeptical, with the recent mainnet migration roadmap failing to inspire enough confidence to stop outflows from the network.
PI Investors Pull Back
The Chaikin Money Flow (CMF) indicator has shown a sharp downtick in recent days, signaling that investor interest in Pi Network is waning. This negative sentiment is reflected in the substantial amount of money being pulled out of PI.
While the mainnet migration roadmap was expected to boost the altcoin’s appeal, it has not been enough to stop the ongoing outflows. The CMF reflects a broader trend of declining interest as investors pull their funds from the platform in anticipation of further price declines.
Pi Network’s investor sentiment has been notably negative over the past month. Many are questioning the value proposition of the token, particularly given its rapid loss of launch hype. This, combined with ongoing volatility and a lack of clear utility, has led to hesitancy in the market.
Investors are not seeing a compelling reason to hold onto their PI tokens, and this has fueled the continued sell-off.
Furthermore, with Pi Network’s price struggling to stay above the critical $0.61 support level, it is evident that market sentiment remains fragile. Without a significant catalyst, such as a strong use case or promising developments, Pi Network risks further price erosion. The absence of an optimistic outlook is pushing investors away.
Currently, Pi Network’s price stands at $0.63, holding just above the $0.61 support. However, the altcoin appears vulnerable, and there is a real possibility that it will fail to maintain this level. If outflows continue and PI falls below $0.61, it could experience a sharp drop to $0.51, erasing the gains made in April.
This potential drop would extend the losses for Pi Network, and the price may even approach $0.50. The rapid outflows and negative sentiment surrounding PI could lead to a prolonged downtrend if the altcoin cannot recover soon.
However, if Pi Network manages to hold above the $0.61 support, it could push toward the $0.71 resistance level. A breach of this level would signal a recovery and could help the altcoin recover some of its recent losses.
