Celebrity Chef Opens Innovative Zero-Waste Restaurant 

Bitcoin (BTC) has reclaimed the $99,000 mark for the first time in over two months, igniting optimism among analysts who anticipate a price breakthrough above the $100,000 mark soon.

Notably, BTC’s performance over the past month has been quite remarkable. Its value has appreciated by 31.8%, representing a strong comeback from its Liberation Day lows in early April.

Is Bitcoin on Track to Reach $100,000?

In the early Asian trading hours, the largest cryptocurrency reached $99,388, marking its highest price since February 21, 2025. At press time, Bitcoin’s price had adjusted to $98,874. BeInCrypto data showed that the coin experienced a slight 0.3% dip in the past hour.

Yet, this increase has fueled optimism that a rise to $100,00 is inevitable. Market participants on X (formerly Twitter) have echoed the positive outlook.

“Bitcoin is knocking on the door of $100,000 again. Tick, tock…,” Anthony Pompliano wrote.

Previously, a Bitfinex forecast suggested that if Bitcoin holds above $95,000, a revisit to its all-time highs becomes likely. This prediction appears to be materializing as Bitcoin now trades above this threshold.

Furthermore, several market indicators and developments support the bullish sentiment. An analyst revealed that Bitcoin has moved past a price range where many traders were holding short positions with high leverage.

“There is no significant resistance until around $100,000,” the analyst stated.

In their weekly newsletter, Glassnode also noted that Bitcoin’s realized cap has reached a record high of $889 billion, growing by 2.1% over the past month. This increase reflects rising investor confidence and capital inflows. 

The firm pointed to signs of renewed market strength, with significant capital flowing back into Bitcoin, particularly through ETFs. Over the last two weeks, more than $4.6 billion has entered Bitcoin ETFs.

“The total AUM held within the US spot ETFs has now climbed to over 1.171 million BTC, which is just 11,000 BTC shy of the 1.182 million BTC ATH,”  the newsletter highlighted.

This surge in inflows has largely reversed the earlier period of outflows, further indicating strong demand for Bitcoin.

“Strong ETF inflows, alongside improved investor confidence, helps to paint a picture of stronger tailwinds supporting the Bitcoin market,” Glassnode added.

Meanwhile, CryptoQuant highlighted that over the past three days, the amount of stablecoins sent to Binance has grown substantially. The peak was on May 6, when the inflow reached nearly $1 billion, making it the largest single-day deposit since April.

“Stablecoin inflows typically reflect investor readiness to enter the market, as these assets are often sent to exchanges in anticipation of buy-side activity,” the post read.

In addition, Binance’s latest reserve disclosure showed a decline in the holdings of several major cryptocurrencies, including Bitcoin, Ethereum (ETH), BNB (BNB), and Solana (SOL). In contrast, the 2.6% increase in Tether (USDT) reserves stands out. 

This uptick in stablecoin holdings suggests a rise in liquidity. This signals that traders are positioning themselves for future market transactions. 

Adding to the optimism, Tether dominance (USDT.D) has experienced a downtick. A decline in USDT.D typically indicates that investors are moving funds from stablecoins into other crypto assets, further fueling the rally.

Legislative progress is another tailwind for Bitcoin. Two Bitcoin-reserve bills have been enacted, and multiple more continue to advance through the legislative process. This implies that there is increasing institutional and governmental acceptance of Bitcoin.

As Bitcoin approaches the $100,000 threshold, investors are closely monitoring whether this rally will sustain its momentum or face resistance. With market conditions aligning favorably, the crypto community remains on edge for what could be a milestone for BTC.

The post Bitcoin’s Path to $100,000: Market Optimism Grows as BTC Hits 2-Month High appeared first on BeInCrypto.

Eric Council Jr, the man who hacked the SEC’s X account last January, was sentenced to 14 months in prison today. In addition to the prison time, Council must forfeit $50,000 and be subject to three years of supervised release.

He was arrested in October 2024, and prosecutors offered him a deal shortly afterward. Council apparently took it in February, pleading guilty to charges of conspiracy to commit aggravated identity theft.

What’s Next for the SEC X Hacker?

At the beginning of 2024, rumors about a Bitcoin ETF approval were turning into a tremendous hype wave. Therefore, when Council hacked the SEC’s X account to claim that it got the green light, this caused market pandemonium.

Bitcoin rose more than $1,000 shortly afterwards, and the hunt for Council began. Today, the story finally ended.

The US Attorney’s office announced that Council had been sentenced for the infamous SEC hack. Court documents showed that he used a SIM Swap to compromise a phone with access to the X account.

Council continued using similar scams until the FBI identified him in August, leading to his October 2024 arrest.

“Schemes of this nature threaten the health and integrity of our market system. SIM swap schemes threaten the financial security of average citizens, financial institutions, and government agencies.  Don’t fool yourself into thinking you can’t be caught. You will be caught, prosecuted, and will pay the price,” claimed US Attorney Jeanine Ferris Pirro.

Interestingly, government prosecutors repeatedly alleged that Eric Council had several co-conspirators in committing the SEC hack. However, none of them have been named, arrested, or charged with anything yet.

The government offered Council a plea deal shortly after his arrest, on the condition that he name these individuals. He pleaded guilty to conspiracy charges in February, presumably suggesting that he did indeed cooperate.

It seems a little strange that there haven’t been any developments in this broader investigation over the last three months.

Still, Council has personally faced justice for his role in the SEC hack. He was sentenced to forfeit $50,000 and spend 14 months in prison.

After his release, he will be under police supervision for the next three years, ensuring that he does not access the dark web or commit identity fraud.

The post SEC X Account Hacker Sentenced to 14 Months in Prison appeared first on BeInCrypto.

Ethereum has recently shown an attempt to recover from the significant losses it sustained toward the end of March. The altcoin, often considered the leader in the smart contract space, is currently trading at $1,774. 

While this reflects an effort to regain momentum, Ethereum’s recovery might be hindered by short-term holders (STHs) looking to capitalize on any immediate profits.

Ethereum Investors Are Prone To Selling

Ethereum’s network value and user activity are showing signs of a possible recovery, but its current market sentiment remains under pressure. The Net Unrealized Profit/Loss (NUPL) indicator, which gauges the overall profit or loss of coins in circulation, has entered a phase of capitulation. 

Despite the uptick in Ethereum’s price, the underlying sentiment remains cautious. The increase in the NUPL could quickly reverse if short-term holders (STHs) decide to liquidate their positions.

Ethereum’s recovery hinges on investor confidence, with those holding onto their assets being the key to avoiding another sell-off. If more STHs choose to HODL instead of selling, Ethereum could see sustained upward momentum in the coming weeks.

On a broader scale, Ethereum’s macro momentum presents mixed signals. The Market Value to Realized Value (MVRV) Long/Short Difference indicator is currently deeply negative at -30%. This suggests that the market may face additional resistance in its recovery efforts. 

The indicator highlights the disconnect between long-term and short-term holders, with the latter showing profits at a two-year high. The last time this occurred was in January 2023, when Ethereum experienced significant sell-offs, pushing the price lower.

The presence of STHs in a profitable position increases the likelihood of further selling pressure on Ethereum. As these investors are more likely to liquidate at the first sign of profits, the recovery could face challenges.

Ethereum’s price could struggle to maintain upward momentum, especially if short-term holders capitalize on their gains, pushing the altcoin back into a downtrend.

ETH Price Needs Support

Ethereum’s price has risen by 11% in the past week, currently trading at $1,774. It is now testing the resistance at $1,796, and breaching this level is crucial for Ethereum to continue its recovery toward the $2,000 mark. A successful breakout above this resistance would signal a continuation of the recovery trend, pushing Ethereum closer to its previous high.

However, considering the market sentiment and the current indicators, Ethereum’s chances of reaching $2,000 in the short term seem unlikely. Ethereum is at risk of falling below the $1,671 support, which could trigger a deeper pullback to $1,522. This bearish outlook suggests that the recovery may be short-lived unless strong buying support materializes.

If the broader market conditions remain strong, Ethereum could manage to breach the $1,796 resistance and even push past $1,906. A move above these levels would set Ethereum on track to reach $2,000, invalidating the bearish outlook and signaling a more sustainable recovery for the altcoin.

The post Ethereum Tries to Recover After Capitulation, But $2,000 Remains Unlikely appeared first on BeInCrypto.