Bitcoin just made history by closing the week at $109,200, its highest weekly close ever. This is a strong sign that the bull market is still going strong, despite recent ups and downs in the crypto market.
For months, some experts predicted the market was heading for a long downturn. But the charts and market signals continued to show strength. Important support levels held firm, large investors kept buying, and overall market liquidity kept rising.
What’s Happening Now?
At the moment, Bitcoin is trading around $109,428. The market has been moving sideways for the past few days, with Bitcoin bouncing between important price zones. To start a new upward rally, the price needs to break past $112,000. If that happens, Bitcoin could enter price discovery mode, where new record highs are possible.
The price indicators show there’s still room for growth, and Bitcoin’s momentum remains positive. While the market isn’t likely to jump straight to new highs overnight, a steady climb is expected, followed by periods of correction and consolidation.
Key Price Levels to Watch
Resistance: $110,000 to $112,000
Support: $103,000 to $105,500
As long as Bitcoin stays above its support levels, the market remains in a healthy position. A break above $112,000 could open the doors to the next big rally.
Why This Matters Now
This strong weekly close comes at an important time. The U.S. Congress is preparing for Crypto Week starting July 14, where important crypto laws and market rules will be discussed. These decisions could bring new clarity for crypto markets and attract large amounts of money from investors.
Many expect a possible rally in late July, a dip in August, and another strong move in September or October.
XRP is currently trading in the green at $2.22. Market analysts are watching closely, as recent movements have opened up the possibility of further gains. Looking at the 4-day chart, an analyst has said that there are two main possible scenarios for XRP’s price direction:
1. The Yellow Scenario (More Likely)
This scenario shows XRP continuing to rise, possibly reaching a new all-time high before undergoing a major correction. This structure follows a pattern of five waves that started from XRP’s low in 2013. If this plays out, a correction could follow, possibly pulling the price down to $0.40–$0.50, similar to past market behavior.
2. The White Scenario (Alternative)
This scenario shows that the current bull market actually started in 2020, not 2013. XRP is possibly in the final wave of a smaller five-wave move. If true, a smaller but still significant correction could follow, possibly lasting up to a year.
Despite the uncertainty, both scenarios expect another price increase, especially while XRP holds above the key support level of $1.20. If this happens, XRP could rise to $5.60 or even $6.60.
Short-Term Outlook
From a shorter-term perspective, XRP appears to be forming a five-wave move up from its April low. However, the pattern is not yet clear. If XRP stays above $2.12, prices could continue to rise. But if it drops below that level, we may see a correction with support between $1.84 and $2.10.
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XRP is currently trading in the green at $2.22. Market analysts are watching closely, as recent movements have opened up the possibility of further gains. Looking at the 4-day chart, an analyst has said that there are two main possible scenarios for XRP’s price direction: 1. The Yellow Scenario (More Likely) This scenario shows XRP …
A recent report from Reown reveals that the on-chain ecosystem is maturing, with users expanding their engagement beyond trading activities. Many believe that payments and artificial intelligence (AI) will be crucial in driving the wider adoption of on-chain technology.
Despite optimism about crypto’s future, challenges such as fees, security, and interoperability persist.
The Future of Crypto Adoption
Reown shared its report, “The State of Onchain UX,” with BeInCrypto. It draws from a survey of 1,038 active crypto users in the US and UK, conducted between February 19 and February 26, 2025.
“For crypto payments to truly reach the mainstream, they must match the ease of traditional fintech experiences. Users should be able to transact effortlessly without needing to understand blockchain mechanics,” Reown’s Payments Product Manager Mirna Barca wrote.
AI is seen as another key driver, with 35% of users identifying it as a major catalyst for adoption. Nonetheless, while AI’s potential is acknowledged, there is some skepticism about blockchain’s role in AI development.
Only 29% believe the two technologies will complement each other. Meanwhile, just 18% see crypto as facilitating AI’s progress.
“Despite trading taking the crown when it comes to user activity today, payments and AI dominate as the two themes users feel will play bigger roles on a greater scale, suggesting that the leading services users access today does not reflect what they believe to drive its long-term value,” the report read.
Shortly after President Trump took office, the SEC established a crypto task force to create a clear regulatory framework for digital assets. In fact, new SEC chairman Paul Atkins has also stressed the importance of crypto regulation, calling it a ‘top priority.’
This focus has contributed significantly to industry optimism, and user data exemplifies that. 86% of users believe it will drive mainstream adoption, while 14% think it will slow innovation.
“We’re in the final throes of regulatory uncertainty in the US. In Europe, MiCA is finally taking shape, but a lack of precedent has kept innovators guessing, just like in the US. The industry is on the cusp of regulatory clarity but we aren’t quite there yet,” Marco Santori, Director of WalletConnect Foundation, remarked.
What Are the Top Factors Holding Back Widespread Crypto Adoption?
Confidence in on-chain security has risen significantly, with 69% of users feeling safe, up from 50.5% last year. However, so have phishing attacks. The number of phishing attacks reported by users has grown to 21%, up from 14.4%.
“Phishing attacks are up, and that’s a problem. But security UX still isn’t where it needs to be. If we can make transaction signing clearer and build in fraud protection, we can help users feel more in control,” Reown’s CEO Jess Houlgrave commented.
A notable 44% of users now use multiple wallets for security reasons, up from 32.8% in 2024. In addition, 18% of users cite security concerns, such as hacks and scams, as a barrier to engaging on-chain.
Challenges in Mainstream Crypto Adoption. Source: Reown
Notably, users also emphasized the need for interoperability, with 47% considering it very important. Additionally, 18% cited a lack of interoperability as a barrier. Despite this, only 14% listed it as one of the core issues that need to be resolved.
Therefore, the report draws attention to the need for developers to focus on real-world use cases, ensuring seamless, secure, and cost-effective user experiences. It also highlights a disconnect between user expectations, centered on payments and social apps, and current behavior, which remains heavily trading-focused.
“Understanding and addressing this dynamic will be critical to achieving true mainstream adoption,” the report noted.
With 67% of survey participants optimistic about crypto’s development, the on-chain ecosystem is poised for growth. However, addressing security, fees, and interoperability will be essential to unlocking its full potential and driving the next wave of mainstream engagement.
Altcoins like AIXBT, Echelon Prime (PRIME), and Balancer (BAL) have posted massive gains heading into the first week of May, but key technical indicators now suggest all three may be overbought. AIXBT is up nearly 95% on the week with strong price momentum, yet it still lags the broader market with a low relative strength.
PRIME and BAL have both surged over 30% in the last 24 hours, but each shows extreme RSI readings above 70 while also underperforming in relative strength—raising red flags about sustainability. While the rallies have drawn short-term attention, traders should be cautious as these tokens show signs of overheating without broader market confirmation.
AIXBT
AIXBT, one of the most recognized crypto AI agents tokens, has emerged as a top performer, surging nearly 40% in the last 24 hours and over 95% in the past seven days.
The Relative Strength Index (RSI) is a momentum indicator that moves from 0 to 100. Values above 70 mean the asset is overbought and may pull back. Values below 30 suggest it’s oversold and could rebound.
Relative Strength (RS) compares a token’s performance to a benchmark. RS above 1.0 means outperformance. Below 1.0 means underperformance. AIXBT has an RSI of 73.92 and an RS of 0.69. That technically makes it overbought, but still lagging behind the broader market.
This shows that AIXBT’s rally has been sharp, but not strong relative to other assets. The surge may be driven more by short-term speculation than sustained market strength.
Echelon Prime (PRIME)
Echelon Prime has surged 33% in the last 24 hours, making it one of the day’s top-performing altcoins.
Its trading volume has exploded by 276%, reaching nearly $16 million—an indication of heightened trader interest and momentum.
However, while the price action is impressive, technical indicators are flashing caution in the short term.
PRIME’s Relative Strength Index (RSI) currently sits at 74, firmly in overbought territory. At the same time, its Relative Strength (RS) is just 0.124.
This combination—high RSI and low RS—suggests the recent rally may be unsustainable.
While there’s strong short-term demand, the token lacks confirmation from relative market strength, making PRIME vulnerable to a sharp correction if buying pressure fades.
Balancer (BAL)
Balancer has jumped over 41% in the last 24 hours, supported by a sharp rise in trading activity, with volume climbing to $53 million.
BAL’s Relative Strength Index (RSI) is at 79.33, signaling extreme overbought conditions. Meanwhile, its Relative Strength (RS) stands at just 0.27, indicating it is still underperforming relative to the broader market.
