Bitcoin broke a new all-time high as its market capitalization rose to $2.096 trillion, which places it above Google’s parent company in the global asset rankings. The feat is achieved as BTC is trading just below $105,000. Bitcoin Overtakes Silver and Google in Market Capitalization Bitcoin has risen to sixth place in world asset rankings by market capitalization, ahead of Alphabet (Google) and silver. Recent data by 8marketcap places the flagship crypto at a combined market capitalization worth $2.096 trillion, compared to Google’s $2.028 trillion and Silver’s $1.844 trillion. BTC has shown brilliant performance with 2.56% increase in the past 24 hours and 2.66% increase in the past week. Such upward momentum is contrary to some of the traditional assets leading the list that have shown weekly declines. They are Apple (-1.95%), Amazon (-2.46%), and Silver (-1.10%). Source: 8marketcap Bitcoin’s price movement in recent days has been quite stable, as… Read More at Coingape.com
Despite the broader market uptick this week, Hedera’s native token HBAR has bucked the trend, registering a 5% decline over the past seven days.
With bearish momentum building, the HBAR token now risks a return to its year-to-date low.
HBAR Slides Below Key Indicators
HBAR’s decline comes as many top cryptocurrencies post modest gains this week, reflecting its divergence from general market sentiment.
Readings from the HBAR/USD one-day chart suggest that this bearish trend could persist in the short term. For example, as of this writing, HBAR trades below the dots that make up its Parabolic SAR (Stop and Reverse) indicator.
This indicator measures an asset’s price trends and identifies potential entry and exit points. When an asset’s price trades below the SAR, it indicates a downtrend. It suggests the market is in a bearish phase, with the potential for further price dips.
Supporting this bearish outlook, HBAR’s Chaikin Money Flow (CMF) remains in the negative territory, signaling a decline in buying volume and a growing presence of sellers in the market. It currently stands at -0.07.
This key momentum indicator measures money flows into and out of an asset. A negative CMF reading, like HBAR’s, signals that selling pressure dominates the market. This means that more investors are offloading the token than accumulating it, a pattern associated with a weakening price trend.
HBAR Tests 20-Day EMA: Will It Hold or Break Toward $0.12?
The daily chart shows HBAR’s decline has pushed it near the 20-day exponential moving average (EMA). This key moving average measures an asset’s average price over the past 20 trading days, giving weight to recent changes.
When the price falls near the 20-day EMA, it signals a potential support level being tested. However, if the price breaks decisively below the EMA, it may confirm sustained bearish momentum and further downside risk.
Therefore, HBAR’s break below the 20-day EMA could lower its price to its year-to-date low of $0.12.
Following Binance’s delisting announcement, Alpaca Finance (ALPACA) has experienced a staggering quadruple-digit price rally over the past week.
This counterintuitive market behavior has sparked intense discussion among analysts and traders. Many experts suggest that this could be a case of market manipulation.
Why Did ALPACA’s Price Pump Despite Binance Delisting?
On April 24, Binance announced the delisting of four tokens, including ALPACA. While the value of all other tokens declined, ALPACA’s price shot up. BeInCrypto data showed that the token appreciated by over 1,000% over the past seven days.
Nevertheless, the momentum appears to have slowed somewhat as ALPACA nears its delisting on May 2. Over the past day, its value has dipped by 34.5%. At the time of writing, it was trading at $0.55.
Yet, ALPACA’s unusual rise has grabbed the attention of market watchers.
“ALPACA is the worst crypto manipulation I’ve seen in recent times. How do you pump a token from 0.02 to 0.3 then sell it back to 0.07 and pump it from 0.07 to 1.27 then back down to 0.3,” a user wrote.
Analyst Budhil Vyas called it a “textbook liquidity hunting.” He explained that large market players, or whales, initially drove the price down by 80%, triggering panic and liquidations. Then, just before the 2-hour delisting deadline, they rapidly pumped the price by 15X.
Vyas believes this was a strategic move to extract liquidity from the market, as these whales were desperate to secure positions before the asset was removed from the exchange. He further emphasized that no real accumulation was taking place.
The analyst said the price surge was purely tactical. It was designed to drain whatever liquidity was left in the market.
“This is crypto in 2025. Stay alert,” Vyas cautioned.
Meanwhile, Johannes also provided a detailed breakdown of the mechanics behind such price manipulations. In the latest X (formerly Twitter) post, he elaborated that sophisticated parties exploit the low liquidity that follows delisting announcements.
The strategy involves dominating a large portion of the token’s supply. The traders take large positions in perpetual futures, betting on the token’s price rising, as these contracts are more liquid than spot markets.
They then buy the token on the spot market, increasing demand and price. With most of the supply controlled, there is little selling pressure, allowing the price to spike.
Once the delisting occurs, the perpetual futures positions are forced to close with minimal slippage. This enables traders to lock in substantial profits.
DeFi analyst Ignas also weighed in on the situation. According to Ignas, this pattern has been observed before, especially during delisting announcements on the South Korean exchange Upbit.
In fact, he noted that delistings used to receive similar, if not more, attention from speculators as new listings in the country.
“A delisting window requires closing down deposits, so with an inflow of new tokens restricted, degens pump the price to get the last hooray before an inevitable dump,” he wrote.
Ignas referenced Bitcoin Gold (BTG) as an example. The altcoin’s price increased by 112% after Upbit announced its delisting, showing that this price-pumping behavior still occurs.
Immutable’s utility token, IMX, is today’s top-performing altcoin, climbing nearly 15% over the past 24 hours. As of this writing, the altcoin trades at $0.64.
On-chain data points to a resurgence in bullish sentiment, suggesting that the rally may have legs in the short term. This analysis explains how.
IMX Traders Go Long and Network Activity Supports the Climb
IMX’s long/short ratio has risen above 1, indicating that many market participants are opening long positions in anticipation of continued upside. According to Coinglass, this currently stands at 1.004.
The long/short ratio measures the proportion of bullish (long) positions to bearish (short) positions in the market. When the ratio is below one, more traders are betting on a price decline than on a price increase.
Converesly, as with IMX, a ratio above one means there are more long positions than short ones. This suggests bullish sentiment, with most traders expecting the asset’s value to rise.
IMX’s price daily active address (DAA) divergence, which remains positive, further strengthens the bullish case. This metric, which measures an asset’s price movements with the changes in its number of daily active addresses, is currently at 63.22%.
When an asset’s price rally is accompanied by a positive DAA divergence, it is considered a bullish signal, suggesting growing interest and the potential for further price appreciation.
This reflects that IMX’s recent price hike is supported by sufficient user activity on the network rather than driven solely by speculative trading.
IMX Price Outlook Strengthens
On the daily chart, the setup of IMX’s Moving Average Convergence Divergence (MACD) supports the bullish outlook above. At press time, IMX’s MACD line (blue) rests above its signal (orange) and zero lines.
An asset’s MACD indicator identifies trends and momentum in its price movement. It helps traders spot potential buy or sell signals through crossovers between the MACD and signal lines.
When the MACD line is above the signal line, buying activity dominates the market, hinting at further price rallies. If this holds for IMX and the token maintains its uptrend, it could break above the resistance at $0.73 and climb to $0.79.
