Ethereum cofounder Jeffrey Wilcke has triggered a wave of pessimism for ETH after a hefty asset transfer to Kraken. On-chain data reveals that Wilcke moved 105,736 ETH to Kraken, stoking concerns of a mass sale, but a closer look paints a benign picture. Investors Raise Eyebrows After An Ethereum Cofounder Transfers 105,736 ETH Jeffrey Wilcke, one of Ethereum’s eight cofounders, has moved almost all of his ETH holdings to the Kraken exchange. According to on-chain data, the Ethereum cofounder transferred 105,736 ETH valued at $262 million at current prices. The movement of a sizable amount of ETH to a centralized exchange has raised eyebrows, with sell-off concerns reaching a fervent pitch. At the moment, the bearish signal has gained momentum with ETH prices tumbling by nearly 2% within minutes of Wilcke’s Kraken transfer. This is not the first time Wilcke has been whipping up bearish sentiments in the markets with… Read More at Coingape.com
HBAR noted a 20% rally during Wednesday’s intraday trading session. This double-digit gain was fueled by Nasdaq’s filing of a 19b-4 form with the US Securities and Exchange Commission (SEC) to list and trade Grayscale’s spot HBAR exchange-traded fund (ETF).
However, the rally appears to be losing momentum. Market indicators suggest that bearish sentiment is strengthening, putting HBAR at risk of losing recent gains.
HBAR Faces Downward Pressure as Market Sentiment Turns Bearish
HBAR’s negative Balance of Power (BoP) reading indicates weakening buying pressure among its spot market participants. At press time, this indicator, which compares the strength of an asset’s bulls and bears, is below zero at -0.09.
When an asset’s BoP is negative, its sellers exert more control over price action. This suggests weakening buying pressure in the HBAR market and hints at a potential continuation of the bearish momentum.
Moreover, HBAR’s Long/Short ratio indicates an increasing dominance of short positions, confirming the bearish sentiment among its futures traders. As of this writing, this stands at 0.98.
The Long/Short ratio measures the proportion of long positions (bets on price increases) to short positions (bets on price declines) in the market. When the ratio is below 1, it indicates that short positions outnumber long positions. It highlights the bearish sentiment among HBAR holders and increases the downward pressure on its price.
HBAR’s Fate Hangs in the Balance
HBAR exchanges hands at $0.24 at press time. On the daily chart, it trades above support formed at $0.22. If bearish pressure gains momentum, this level may fail to hold. HBAR’s price could decline further to $0.17 if the bulls cannot defend this support level.
Conversely, a positive shift in market sentiment could prevent this. If new demand trickles into the market, HBAR’s price could breach resistance at $0.26 and rally toward $0.31.
A macroeconomic chart reveals that the M2 Money Supply is starting to rise again. Historical market patterns suggest that there is a correlation between the M2 Money Supply index and the Bitcoin price index. Crypto market watchers are now eyeing a potential all-time high for Bitcoin within this quarter, if historical correlations between M2 and crypto prices hold true. Here is what you should know.
M2 Money Supply on the Rise: What It Means
Analysing M2 is a way economists use to track all the money that is easily available in an economy. M1 is the most basic form of money, which includes cash and checking accounts. M2 is a broader measure, which includes everything in M1 plus savings accounts, money market accounts and certificates of deposit.
A macroeconomic chart, shared on X by renowned crypto analyst Michael van de Poppe, shows that the M2 money supply is starting to rise again.
A sharp rise in the M2 money supply implies that there is a significant increase in the amount of easily accessible money in the economy.
Historical Correlation Between M2 and Bitcoin Prices
Historical market patterns indicate that there is a correlation between the M2 money supply index and the BTC price index.
Last time, while Bitcoin was inching towards an all-time high, the US was preparing to witness a political shift.
It was on January 20, hours before Trump’s inauguration, that the BTC market crossed the crucial $109K mark. Since January 21, the BTC market has declined by over 19.28%.
This crypto analyst also warns that if BTC rises with M2 supply, the global economy could see several unusual developments: decreasing bond yields, falling gold prices, declining dollar index, increasing CNH/USD, and rising altcoins.
The US 5-year Bond Yield sits at 4.021%, 10-year at 4.384%, 20-year at 4.862%, and 30-year at 4.821%. Since the start of this month, especially after the announcement of Trump’s tariffs, all these bond markets have seen steady growth.
Similarly, the Gold Spot market, which is currently priced at $3,222.885, has grown significantly during the period. On April 11, the market even touched an ATH of $3,244.
In conclusion, while a rising M2 supply brings renewed optimism for Bitcoin and the broader crypto market, investors must remain cautious. Correlations can shift and macroeconomic events may change course quickly. As analysts warn of ripple effects across asset classes, it is crucial to monitor the evolving data closely, Whether this is the start of a new rally or a temporary spike, the coming weeks will be decisive for BTC’s direction.
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The post How High Can Bitcoin Price Go? Exploring the Correlation Between M2 and Bitcoin appeared first on Coinpedia Fintech News
A macroeconomic chart reveals that the M2 Money Supply is starting to rise again. Historical market patterns suggest that there is a correlation between the M2 Money Supply index and the Bitcoin price index. Crypto market watchers are now eyeing a potential all-time high for Bitcoin within this quarter, if historical correlations between M2 and …
Eric Trump Confirms USD1 Stablecoin Chosen for MGX’s $2B Binance Investment
At Token2049 in Dubai, Eric Trump revealed that the Trump family’s stablecoin, World Liberty Financial USD (USD1), has been selected as the official stablecoin for MGX’s $2 billion investment in Binance. The announcement follows MGX’s earlier disclosure of plans to acquire a significant stake in the crypto exchange.
The post Crypto News Today : Bitcoin Price USD, Morgan Stanley Crypto, Ethereum Price, Dow Jones Today appeared first on Coinpedia Fintech News
May 1, 2025 12:07:25 UTC Eric Trump Confirms USD1 Stablecoin Chosen for MGX’s $2B Binance Investment At Token2049 in Dubai, Eric Trump revealed that the Trump family’s stablecoin, World Liberty Financial USD (USD1), has been selected as the official stablecoin for MGX’s $2 billion investment in Binance. The announcement follows MGX’s earlier disclosure of plans …
