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.
Bitcoin Core developer Peter Todd proposed removing arbitrary size limits on OP_RETURN, igniting an intense debate. The entire debacle reveals deep divisions over Bitcoin’s purpose and future.
OP_RETURN is the operation code (opcode) that allows small data payloads to be embedded in Bitcoin (BTC) transactions.
Bitcoin Core Developers and Community Clash Over OP_RETURN Limits
Peter Todd’s proposal #32359 on GitHub would lift long-standing restrictions on how much data can be stored using OP_RETURN, which is currently capped at 80 bytes.
One of Satoshi Nakamoto’s theories’ candidates, Peter Todd, argues that the change would simplify Bitcoin’s codebase. The cryptography developer also highlights its potential to improve efficiency without endangering the network.
As OP_RETURN outputs are unspendable, they do not bloat the Unspent Transaction Output (UTXO) set that all Bitcoin full nodes must track for transaction validation.
“The restrictions are easily bypassed by direct substitution and forks of Bitcoin Core,” Todd noted in his GitHub comments.
Peter Todd’s proposal to remove arbitrary limits on OP_Return. Source: GitHub
According to Peter Todd, formalizing higher limits would reflect existing practices and benefit use cases like sidechains and cross-chain bridges.
Many in the Bitcoin community view the change as a dangerous shift toward non-monetary use cases for the pioneer crypto. This is reminiscent of the 2014 OP_RETURN Wars when spam concerns forced developers to reduce the data cap from 80 to 40 bytes before raising it again.
That era saw services like Veriblock flood the chain with data, leading to increased block sizes and transaction fees.
“Sidechain builders shouldn’t influence Bitcoin Core. Bitcoin on its base layer is money and should be only focused on money,” warned Willem S, founder of Botanix Labs.
Willem argues that changing standard rules to make development easier sets a troubling precedent, particularly when workarounds already exist.
Proposal Is A Betrayal of Bitcoin’s Fundamental Principles, Critics Say
Meanwhile, critics call the proposal a betrayal of Bitcoin’s foundational principles. One such critic is Jason Hughes, who works in development and engineering at Ocean Mining. He accuses developers of steamrolling dissent and ignoring broader user concerns.
Hughes said the change could push Bitcoin toward being a worthless altcoin.
“Bitcoin Core developers are about to merge a change that turns Bitcoin into a worthless altcoin, and no one seems to care to do anything about it. I’ve voiced objections, lost sleep over this, and despite clear community rejection of the PR it’s moving,” Hughes lamented.
Nevertheless, others are more optimistic, with some acknowledging the potential of this move to drive network improvement.
“Catering to applications such as sidechains and bridges drives more transactions, which is good for the network,” countered Karbon, a popular user on X.
This sentiment hinges on the assumption that people already bypass the limit anyway. The backlash also stirred broader philosophical objections, with some likening it to the ongoing Ethereum woes.
“Bitcoin should not follow an ‘L2-centric’ roadmap. It is actually, what killed Ethereum. Bitcoin is money and should be focused on that,” another user argued.
Amidst debates on the technical merits of the change, the social impact may be harder to contain.
The proposal has amplified long-simmering concerns over developer centralization and revisited the risk of alienating users who believe Bitcoin should remain a minimal, sovereign monetary protocol.
Whether the proposal moves forward or stalls, the controversy reveals the growing tension between Bitcoin’s purist roots and the pressure to evolve.
On April 20, Dogecoin enthusiasts worldwide united to mark Dogeday, a community-driven holiday celebrating the world’s most recognizable meme coin.
While the festivities showcased the coin’s loyal fanbase and cultural relevance, the celebration failed to spark any meaningful market movement.
Dogeday Fails to Lift Dogecoin Price as Traders Face $2.8 Million in Liquidations
Instead of riding a wave of positive sentiment, Dogecoin was the worst-performing asset among the top 20 cryptocurrencies during the past day.
According to data from BeInCrypto, the token dropped over 2.5% during the reporting period compared to the muted performance of the general market.
This disappointing performance led to roughly $2.8 million in liquidations, with traders betting on an upward price movement losing more than $2 million, per Coinglass figures.
However, even with the lackluster price action, Dogecoin’s relevance in the crypto ecosystem remains undeniable. Launched in 2013 as a parody of Bitcoin, DOGE has grown far beyond its meme origins.
The digital asset is now the ninth-largest cryptocurrency by market capitalization, currently valued at approximately $22.9 billion, according to CoinMarketCap.
On social media, Dogecoin continues to lead the memecoin narrative. According to CryptoRank, it was the most mentioned memecoin ticker on X (formerly Twitter) in the past month. This visibility continues to fuel both community engagement and investor interest.
If granted, these financial investment vehicles could become the first exchange-traded funds centered entirely on a meme coin.
Considering this, crypto bettors on Polymarket put the odds of these products’ approval above 55% this year. This optimism reflects a growing belief that Dogecoin could soon secure a place in mainstream financial markets.
On Tuesday, a large Solana whale transferred 494,153 SOL—valued at approximately $72 million—to the Coinbase exchange, raising concerns over a potential sell-off.
Large exchange inflows like this often signal impending selling pressure, putting SOL’s recent gains at risk.
$72 Million in SOL Hits Coinbase, Weighing on Market Sentiment
According to Whale Alert, a SOL whale transferred 494,153 SOL valued at $72 million to Coinbase Institutional on Tuesday. Significant exchange inflows such as this mean that large investors are moving their holdings from private wallets to exchanges, often signaling an intent to sell.
This increased supply on exchanges can increase the downward pressure on the SOL price, especially if there is insufficient demand to absorb the selling. As a result, its price may decline in the near term, leading to further sell-offs.
Moreover, the coin’s negative weighted sentiment heightens the risk of this selloff. At press time, this key metric is below zero at -0.51.
An asset’s weighted sentiment analyzes social media and online platforms to measure the overall tone (positive or negative) surrounding it. It considers the volume of mentions and the ratio of positive to negative comments. When weighted sentiment is positive, it indicates more positive comments and discussions about the cryptocurrency than negative ones.
On the other hand, when it is negative, the overall market sentiment is bearish, with more negative commentary and pessimism outweighing positive discussions about the asset.
This trend can increase selling pressure in the SOL market, discourage new demand, and contribute to its price decline as traders react to the prevailing bearish outlook.
Will Solana Drop to $138 or Surge to $160?
At press time, SOL trades at $145.84. If the whale selloff prompts retail traders to distribute their coins, SOL’s price may plummet to $138.84.
However, on the daily chart, SOL bulls appear ready to defend key levels. Readings from technical indicators, including the Parabolic SAR, suggest that buying momentum is gaining strength.
At press time, the dots that make up this momentum indicator rest below SOL’s price, offering dynamic support. When an asset’s Parabolic SAR is set up this way, it signals a bullish trend. It hints at the possibility of a rally in SOL’s price in the short term. If this happens, the coin could exchange hands at $160.34.
