Gold is soaring to new highs as demand for precious metals intensifies. The yellow metal is testing critical resistance levels, moving ever closer to the psychological $2,500 mark. Despite the Relative Strength Index (RSI) nearing overbought territory, there remains ample room for further gains if favorable catalysts emerge. The market’s current momentum suggests that gold could continue its bullish trajectory, provided it maintains its upward trend.
In tandem with gold’s rally, silver is also making waves. The gold/silver ratio has retreated below the 84.00 level, sparking renewed interest in silver. Traders are keeping a keen eye on gold’s strong performance, which traditionally bodes well for silver. Should silver surpass the $31.00 level, it is poised to test resistance zones between $31.45 and $31.75. This potential breakout could signal further gains for silver, solidifying its bullish outlook.
Platinum, another key player in the precious metals arena, is also gaining traction. The metal’s recent upward movement aligns with the broader rally in precious metals markets. Additionally, palladium’s 1.9% increase is providing a bullish signal for platinum. If platinum manages to stabilize above the $1,000 level, it will likely face resistance at $1,020 to $1,030. This level of resistance will be crucial in determining platinum’s next directional move.
For those looking to stay informed about all the latest economic events and their potential impacts on the markets, be sure to check out our economic calendar.
As gold, silver, and platinum continue their impressive rallies, traders and investors should remain vigilant. The interplay between these metals and market conditions will be key in navigating the next phases of their price movements.
Crypto whale James Wynn has made headlines again after dramatically increasing his Bitcoin exposure. He placed a $1.2 billion long position on Hyperliquid, a decentralized derivatives exchange.
This comes shortly after he closed out positions in Ethereum, Sui, and PEPE. The move signals a strategic shift toward Bitcoin as the market rallies.
Crypto Whale Exits Altcoins to Place $1.2 Billion Leveraged Bet on Bitcoin
On May 24, blockchain tracker Lookonchain revealed that Wynn had opened a 40x leveraged position totaling 11,588 BTC, worth approximately $1.25 billion. His liquidation level is set at $105,180.
James Wynn Bitcoin Bet on Hyperliquid. Source: Lookonchain
This move extends a series of aggressive Bitcoin trades Wynn began earlier in the week. On May 21, he opened a long position worth $830 million, from which he took a $400 million profit on the same day.
Since then, he has reloaded his position to over $1 billion as Bitcoin’s price climbed over the past two days.
Moreover, he also shared a screenshot on the social platform X showing that his latest Bitcoin long bet was up 13.4%. This means that the position had generated around $4.2 million in unrealized profit.
Still, his track record has its blemishes. He recently closed his positions in Ethereum and Sui with a combined loss of $5.3 million. However, he offset those setbacks with a $25.19 million gain on a trade involving PEPE.
Jerome Powell’s speech at the Fed’s International Finance (IF) Division anniversary conference quietly signaled the central bank’s growing openness to easing monetary policy. This prospective shift has sent Bitcoin (BTC) soaring above $105,000.
Meanwhile, the Federal Reserve (Fed) continues to work against political pressure from President Trump, who advocates for rate cuts. This contention has sparked speculation of Powell’s imminent resignation.
Bitcoin Surges as IF Models Point to Dollar Weakness
Bitcoin surged past $105,000 on Monday, buoyed by growing expectations that the Federal Reserve may be preparing to pivot its monetary policy stance later this year.
The rally followed Federal Reserve Chair Jerome Powell’s speech at the International Finance (IF) Division’s 75th anniversary conference. Powell reiterated the critical role of global data and modeling in shaping US monetary policy in his speech.
However, he did not directly signal any change in interest rates. While Powell’s remarks were framed as a tribute to the IF Division’s legacy, analysts and crypto investors parsed his words for policy clues amid mounting signs of disinflation and economic resilience.
“Understanding this complex and interconnected web is essential for us to anticipate the path of employment and inflation,” Powell said.
Although Powell did not mention easing or rate cuts, he emphasized that IF research is central to the “risks and uncertainty assessment that FOMC committee participants receive in advance of every meeting.”
That line, coupled with the Fed Chair’s comment that the division’s work is “certainly relevant today,” has sparked speculation that the Fed is preparing for a potential dovish shift if current economic trends continue.
This combination of disinflation and job stability supports both prongs of the Fed’s dual mandate. Crypto market analyst Kyle Chassé pointed to these dynamics as fuel for risk assets like Bitcoin.
“FED PIVOT INCOMING? The last CPI came in at just +2.3% YoY. Unemployment is steady around 4.2%. Fed officials say if inflation keeps cooling and jobs stay strong, rate cuts are on the table later this year. That’s rocket fuel for Bitcoin,” Chassé posted on X.
Investors also noted that Powell praised the IF division’s development of advanced models for “assessing risks and uncertainties through alternative scenarios.” According to Powell, these are instrumental in understanding the impact of global shocks.
Though not tied to any specific forecast, these capabilities are increasingly viewed by market participants as laying the groundwork for responsive monetary policy in the second half (H2) of 2025.
Is Bitcoin’s Recovery A Bet on Policy Shifts?
Bitcoin’s move above $105,000 reflects broader optimism that the Fed will begin easing before year-end, especially if inflation continues its downward trend.
According to data on the CME FedWatchTool, markets are pricing in a 95.3% probability that the Fed will maintain the current target rate of 4.25-4.50 basis points (bps) at the June 18, 2025, FOMC meeting. Meanwhile, there is a 4.7% chance of a 25 bps cut to 40.0-4.25 bps.
Though the central bank remains cautious in its public language, Powell’s focus on global risk modeling and his acknowledgment of ongoing uncertainty suggest a more data-responsive posture.
“This work is critical to understanding the quantitative implications of uncertainty shocks. Certainly, relevant today,” Powell noted.
For Bitcoin bulls, that relevance could translate into a more accommodative environment in which digital assets benefit from loosening financial conditions, a weakening dollar, and investors seeking alternative stores of value.
While the Fed has not confirmed a pivot, the market is listening closely, with Bitcoin holding well above $105,000.
BeInCrypto data shows BTC was trading for $105,568 as of this writing, up by a modest 0.62% in the last 24 hours.
As Kyle Chassé suggests, a rate cut could spur Bitcoin’s growth. However, the high probability of no change may delay any significant bullish momentum in the near term, likely explaining the modest gains.
Bitcoin has seen some volatility recently, with its price facing significant challenges. Despite these setbacks, the cryptocurrency is forming a bullish pattern.
Investors, particularly short-term holders (STHs), have shown resilience by moving towards accumulation, which supports the notion of potential recovery in the coming weeks.
Bitcoin Investors Are Hopeful
Bitcoin’s realized losses have been a key indicator of the current market’s struggles. This week, the realized losses across all market participants reached $818 million per day, which is among the highest values in recent times. The only larger recorded loss was the yen-carry-trade unwind on August 5, 2024, which totaled $1.34 billion.
These substantial losses reveal that many investors have been forced to sell their positions below their cost basis, pressured by the ongoing market downturn. Despite this, the significant realized losses suggest that many investors are feeling the weight of the current volatility, yet some continue to hold their positions.
On a more positive note, Bitcoin’s network growth has been on the rise. The number of short-term holders has increased, with 50,000 more wallets on the network compared to a month ago. Specifically, there has been a rise of 37,390 new wallets holding less than 0.1 BTC, and 12,754 wallets holding between 0.1 and 100 BTC.
The growth in the number of Bitcoin wallets reflects strong conviction among these short-term investors. Despite the ongoing price fluctuations, their continued involvement in the market indicates that many are looking beyond the current downturn. This is an important factor in supporting Bitcoin’s potential recovery, as it suggests that the base of holders remains strong and that interest in the cryptocurrency is far from fading.
Bitcoin’s price has shown a 6% recovery in the last 24 hours, trading at $92,776 as of the latest update. The cryptocurrency is nearing the critical resistance level of $93,625, which it has struggled to breach in recent days. A successful breach of this resistance could mark the beginning of a bullish breakout, pushing Bitcoin higher.
If Bitcoin manages to flip $93,625 into support, it could pave the way for a rise towards $95,761. Such a move would also indicate a potential breakout from the descending broadening wedge pattern that has dominated the market in recent weeks. Should this happen, Bitcoin could find itself heading towards the psychologically significant $100,000 mark, marking a strong recovery from its recent volatility.
However, if Bitcoin fails to break through $93,625, it could fall back to the $89,800 support level. A failure to hold at this point could delay the recovery further and even push Bitcoin to test lower levels, with $87,041 acting as a crucial support. A move below this level would invalidate the bullish outlook and extend the current downtrend.
