While Ethereum price continues to falter, a steeper drop for the largest altcoin lurks around the corner. According to Bit Bull, the ETH decline will see it sink to lows of $1,600 in the near future.
Ethereum Price Hurtles Toward $1,600
Cryptocurrency analyst Bit Bull has shared a prediction on X for Ethereum price movement in the near-term. According to Bit Bull, Ethereum looks set to continue its decline and can fall as low as $1,600.
Bit Bull hinges his prediction on Ethereum breaking down from a symmetrical triangle after prices fell below $1,820. The decline below the triangle pattern signals a bearish sentiment, continuing the previous decline. ETH price remains stuck below $2,000 since the drop below the psychological level was driven by a raft of unsavory fundaments and technicals.
The latest is the Ethereum price dropping beneath the triangle pattern, triggering new short entries on the asset. A breakdown and a retest followed by low trading volumes confirm fears of a steeper ETH correction.
“However, after the breakdown and a retest, ETH is now looking bearish,” said Bit Bull. “Technically, there’s a strong possibility for further downside.”
Apart from the symmetrical triangle, a further confirmation of bearish sentiments is seen in ETH dominance. According to his analysis, Bit Bull notes the ETH dominance chart has formed a descending triangle to signal further bearishness.
“A retest toward the upper trendline is likely, but after that, we could see another move down,” added Bit Bull.
On-chain Metrics Confirm Bearish Sentiments For ETH
While technicals are largely pessimistic, on-chain data are telling a similar story for Ethereum price. Right out of the bat, active addresses on Ethereum have taken a major hit in recent months, exacerbating the issue of falling prices.
There is also a decline in Ethereum fees burnt while fees burnt per transaction face a similar slump. Perhaps the biggest indicator for long-term bearishness is an increase in ETH supply after the Merge event.
Despite the negative sentiments, ETH to $4,000 is still in play given the show of as strong support at $1,800. Standard Chartered analyst opines that Ethereum will finish the year at $4,000 after slashing its earlier prediction of $10,000 by 60%.
Ethereum price currently exchanges hands at $1,803, falling by less than 1% over the last day. Weekly charts indicate a similar ETH decline of around 1%, confirming a strong consolidation base for the bruised and battered altcoin. Ethereum’s trading volume stands at nearly $7 billion with whales creating a chunk of market activity for the asset.
Bitcoin (BTC) demand by institutional investors has remained high amid rising fears of short-term crypto market capitulation. According to market data from CoinShares, Bitcoin’s investment product recorded the second consecutive week of cash inflow last week of about $1.1B.
As a result, the BTC’s investment products have posted a net monthly flow of about $2.38 billion and a year-to-date cash inflow of around $12.7 billion. The United States led in net cash inflows of about $1.25 billion, while Hong Kong and Switzerland posted a net cash outflow of about $32.6M and $7.7M respectively.
Is Bitcoin Price Ready for a Bullish Breakout?
Bitcoin price has rebounded over 3 percent to trade about $104,100 on Monday, June 24, during the mid-North American trading session. The flagship coin, however, faces a significant resistance range between $110k and $112k.
In the weekly timeframe, BTC price has been forming a potential macro double top coupled with a bearish divergence of the Relative Strength Index (RSI).
With the market data from Coinglass showing more than $12 billion in cumulative short liquidation leverage, BTC price faces further bearish sentiment in the coming weeks.
As Coinpedia reported, crypto analyst Benjamin Cowen thinks that the wider crypto market, led by BTC, will record lower lows in the coming months and potentially establish a local low in August or in September, 2025.
From a technical analysis standpoint, if BTC price consistently closes below $100k in the coming week, a selloff towards the support level around $96k will be inevitable.
The post Bitcoin Records 2nd Consecutive Week of Cash Inflows: Is a Breakout Rally Coming? appeared first on Coinpedia Fintech News
Bitcoin (BTC) demand by institutional investors has remained high amid rising fears of short-term crypto market capitulation. According to market data from CoinShares, Bitcoin’s investment product recorded the second consecutive week of cash inflow last week of about $1.1B. As a result, the BTC’s investment products have posted a net monthly flow of about $2.38 …
Bitcoin price breaks $100,000 on May 8, 2025, as ETFs, Fed pause, and state crypto laws fuel rally. Will BTC now advance to new all-time highs?
Bitcoin clears $100,000 first time in 120-days
Bitcoin price crossed the $100,000 mark on Thursday, May 8, 2025, trading at its highest level since February. The milestone represents a 4.5% 24-hour gain, pushing BTC to $100,800 at the daily peak before settling near $99,696 at press time.
Bitcoin price crosses $100,000, May 8 2025 | Coingecko
The renewed BTC price rally on Thursday can be attributed to a convergence of macroeconomic signals, adoption milestones across US states, amid surging institutional demand from Bitcoin ETFs.
Coingecko data further shows data BTC price gained 26.5% in the past 30 days and 59.1% over the last year. Traders now anticipate another leg up as BTC eyes new all-time highs, less than 10% away from breaching its previous record around $107,000.
Market sentiment turned sharply bullish following a formal announcement from President Donald Trump confirmed a comprehensive trade agreement with the United Kingdom. The message emphasized the depth of US-UK relations and hinted at more bilateral deals in the pipeline.
US President Donald Trump Confirms Trade Deal With UK, Source: TruthSocial
The trade optimism has sparked renewed investor appetite for risk assets, with Bitcoin among the biggest beneficiaries.
Trump’s executive order establish crypto strategic reserve in March 2025. has helped frame Bitcoin as a strategic hedge against geopolitical uncertainty and global de-dollarization risks.
2. Three US states enact major crypto laws in rapid succession
Arizona Governor signed House Bill 2749 into law:
On May 7, Arizona Governor Katie Hobbs signed a bill establishing a Bitcoin and Digital Assets Reserve Fund. The fund will be managed by the state treasurer and composed of digital assets obtained through airdrops, staking rewards, and accrued interest.
The bill follows the governor’s veto against Senate Bill 1025, which had proposed investing 10% of states $32 billion Treasury assets in cryptocurrencies and NFTs.
Hobbs cited a preference for budget-neutral, lower-risk strategies in approving HB 2749. The newly-approved law now allows Arizona to engage in passive crypto asset management while maintaining fiscal conservatism. Staking rewards from unclaimed assets held over three years will also be funnelled into the reserve.
Oregon enacts Senate Bill 167:
Oregon state amended the state’s Uniform Commercial Code to include digital assets such as cryptocurrencies, tokenized instruments, and electronic money. Signed into law by Governor Tina Kotek, the legislation introduces UCC Article 12, providing legal clarity on how digital assets can be used as collateral and managed in secured transactions.
Oregon signs Crypto bill into law, May 7, 2025
The new rules also recognize electronic signatures and records, easing digital commerce integration. Transitional provisions give parties a one-year adjustment period. Prior to the update, crypto assets operated in legal gray zones under state law.
With this move, Oregon strengthens its infrastructure for asset-backed crypto innovation and enterprise use cases.
New Hampshire becomes first state to adopt Crypto reserve:
New Hampshire became the first US state to approve Treasury laws to receive and hold Bitcoin in reserve. The move follows prior legislative actions that permitted tax payments in crypto and explored blockchain-based public record systems.
The latest statute, passed on May 8, directs the state to accept Bitcoin from federal forfeitures, grants, and settlements as reserve assets.
It does not authorize discretionary market purchases but ensures crypto assets entering public custody are lawfully held and secured. Treasury officials will partner with approved custodians to manage private keys and staking operations.
3. Fed pause and recession risks reinforce Bitcoin hedge appeal
On Wednesday, US Federal Reserve held interest rates steady in its latest FOMC meeting but flagged rising unemployment as a growing concern. Investors now anticipate multiple rate cuts later in 2025 to cushion a slowing economy.
The shift in tone has rekindled the inflation hedge narrative around Bitcoin, with capital rotating out of treasuries and into hard assets.
Bitcoin’s fixed supply continues to appeal to investors preparing for policy easing and potential currency debasement. Market expectations of looser monetary policy have lifted global risk asset markets and has evidently played a role in driving BTC price above $100,000.
4. Institutional demand and ETF inflows intensify
Institutional capital has remained a key pillar of support during the current rally. Following renewed tensions between the United States and China, large corporate players have accelerated capital allocation into Bitcoin.
Bitcoin ETF Flows | Source: Farside
Exchange-traded funds (ETFs) have played a pivotal role in this dynamic. Over the past 13 trading days, Bitcoin ETFs recorded net inflows of $5.3 billion, with only two days of outflows.
On April 30 and May 6, net redemptions were modest at $56.3 million and $85.7 million, respectively. The consistent inflows indicate sustained institutional conviction and reflect Bitcoin’s growing status as a macro asset class comparable to gold or tech equities.
What’s next?
Bitcoin’s latest move above $100,000 places it within reach of entering a fresh price discovery phase. With only a single-digit percentage gain needed to break prior highs, markets are watching closely for institutional confirmation. If large players hold out for new highs, the rally could extend well into Q2.
However, some analysts suggest a partial rotation into altcoins may occur if Bitcoin shows signs of exhaustion. Capital rotation could benefit Ethereum, Solana, and newer sectors like Crypto AI tokens.
Looking ahead, the direction of Fed policy and geopolitical trade talks will remain key catalysts in the weeks ahead.
Tron (TRX) continues to trade in a tight range around $0.27, with technical indicators pointing to a market in consolidation. Momentum has faded, as shown by a weakening ADX and a neutral RSI hovering near 50, signaling indecision among traders.
The token faces resistance at $0.274 and support at $0.256, with a breakout or breakdown likely to set the next directional move. Meanwhile, SunPump’s new CEX Alliance aims to boost TRON’s meme coin ecosystem, but on-chain activity and revenue remain subdued despite the initiative.
SunPump Launches CEX Alliance, But Platform Activity Remains Low
The alliance brings together several centralized exchanges, including BitMart, Poloniex, LBank, and others, to streamline listing procedures and amplify marketing efforts for promising projects with stable on-chain performance and market caps over $500,000.
Through coordinated campaigns, social exposure, and access to trading events, the initiative seeks to bolster meme coin visibility and foster growth within the TRON network.
SunPump Tokens Created Daily and Cumulative. Source: Dune.
However, SunPump’s on-chain metrics paint a more muted picture. Despite the recent announcement, the platform has seen only around 98,300 token launches in total over the past nine months—a figure that Pump.fun often surpasses in less than a week.
Activity on the platform remains subdued, and revenue generation has been underwhelming, with daily earnings frequently falling below $1,000 in recent weeks.
While the CEX Alliance may introduce more exposure and credibility, SunPump’s ability to scale user participation and on-chain performance remains a critical challenge going forward.
TRX Enters Sideways Phase as Trend Strength Weakens
Tron’s Directional Movement Index (DMI) currently shows a weakening trend, with the Average Directional Index (ADX) falling to 11.68 from 24 just three days ago.
The ADX measures trend strength on a scale from 0 to 100, where readings above 25 suggest a strong trend—either up or down—while values below 20 indicate a weak or non-trending market. Alongside the falling ADX, the positive directional indicator (+DI) has declined to 20.74 and the negative directional indicator (-DI) to 15.41, both down significantly from earlier levels.
RSI is a momentum oscillator that ranges from 0 to 100, with values above 70 indicating overbought conditions and below 30 signaling oversold conditions. An RSI near 50 typically reflects balance between buying and selling pressure—suggesting that the market is in equilibrium.
With both DMI and RSI pointing to a lack of strong conviction from either bulls or bears, TRX is likely to remain range-bound in the short term unless a clear catalyst shifts sentiment.
Tron Price Consolidates: Will $0.274 Breakout or $0.256 Breakdown Come First?
Tron has been trading steadily around the $0.27 level over the past week, with its EMA lines pointing to ongoing consolidation.
The token recently failed to break through the $0.274 resistance, which remains a key short-term hurdle.
A successful breakout above that level could open the door for a move toward $0.279 and $0.282, potentially setting up a larger rally to reclaim the $0.30 mark for the first time since December 2024.
However, such a move would likely require renewed momentum and a shift in market sentiment.
On the downside, TRX faces important support at $0.256. If bearish pressure increases and that level is breached, the price could slip further to $0.250, and in a more extended pullback, even test $0.243.
The current setup suggests a market in wait-and-see mode, with traders closely watching for a decisive move in either direction.
