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Fed Chair Jerome Powell is set to testify at Congress today, where the Fed Chair plans to reiterate the Committee’s wait-and-see approach to Fed rate cuts. The Fed Chair is also going to allude to Trump tariffs and warn about how they put the economy at risk of rising inflation. Jerome Powell Reiterates No Hurry
The post Jerome Powell Maintains Position On Fed Rate Cuts appeared first on CoinGape.
XRP is under pressure, down nearly 6% in the past 24 hours and teetering just above the $2 mark as bearish momentum builds. A $1.02 billion unlock from Ripple’s escrow has sparked fresh concerns about oversupply, with tokens moved to operational wallets possibly poised for distribution.
At the same time, network activity has collapsed 87% since mid-March and technical indicators like DMI and EMA lines suggest growing downside risk. With weakening trend strength and fading demand, XRP may struggle to hold key support levels unless a catalyst revives bullish sentiment.
Onchain data shows that Ripple has unlocked 500 million XRP—worth around $1.02 billion—from its escrow account.
The tokens were moved from the “Ripple (27)” escrow address to two operational wallets, “Ripple (12)” and “Ripple (13),” potentially positioning them for distribution or sale.
While the escrow account still holds another 500 million XRP, the movement of such a large amount into accessible wallets often raises concerns about increased market supply. If Ripple sells a portion of these tokens, it could create short-term selling pressure on XRP’s price.
From a technical standpoint, XRP’s DMI chart is flashing bearish signals. The ADX, which measures trend strength, has sharply declined to 26.68 from 42.45 just two days ago, suggesting the recent trend is weakening.
Meanwhile, the +DI has dropped to 12.91, down from 22 yesterday—indicating a decline in bullish momentum. At the same time, the -DI has surged to 27.43 from 15.64, pointing to rising bearish pressure.
This shift in directional strength, combined with the large token unlock, suggests XRP may face further downside unless demand quickly absorbs the incoming supply.
XRP’s network activity surged to record highs in March, with 7-day active addresses reaching an all-time peak of 1.22 million on March 18.
However, that momentum quickly faded, with the number now plummeting to just 158,000—an 87% drop in less than three weeks.
This dramatic reversal suggests that the recent spike in engagement may have been short-lived or event-driven rather than indicative of sustained adoption or growing user demand.
Tracking 7-day active addresses is a key on-chain metric, offering insight into how frequently a token’s network is being used. High activity can signal strong user interest and utility, often aligning with price support or rallies.
On the other hand, sharp declines in active addresses—like what XRP is now experiencing—can signal waning demand, decreasing network usage, and potential selling pressure.
With such a steep drop in activity, XRP’s price may struggle to find an upside unless new catalysts reignite user engagement.
XRP’s EMA structure clearly reflects a strong ongoing downtrend, with short-term moving averages positioned well below the long-term ones and a wide gap between them—signaling persistent bearish momentum.
Unless bulls step in soon, XRP price may be on track to test support around $1.90, a key level that has held in the past.
A break below it could expose the asset to further downside toward $1.77.
However, if XRP manages to reverse the current trend and regain upward momentum, it could climb to challenge resistance at $2.06.
A successful breakout above that level might pave the way for a continued rally toward $2.22.
The post Ripple Unlocks $1 Billion in XRP as Bearish Momentum Builds appeared first on BeInCrypto.
The post Bitcoin Faces Resistance at $119K as 613K BTC Threatens Selloff: What’s Next for BTC Price? appeared first on Coinpedia Fintech News
Bitcoin’s upward momentum could face a major hurdle as over 613,000 BTC—worth billions—loom over the market, posing a significant selloff risk. With Bitcoin eyeing the critical $119K resistance level, traders and investors are moving cautiously. This potential influx of supply could stall or even reverse the current bullish trend, raising concerns about near-term volatility.
In the past 24 hours, Bitcoin’s price has been very unstable, with sellers pushing hard to keep it below $119,000. This led to a large wave of forced selling, according to data from Coinglass. In total, more than $55 million in positions were liquidated, with over $41 million of that coming from buyers who had bet that Bitcoin’s price would go up.
Data from IntoTheBlock shows that many investors bought Bitcoin around the $118,573 level, with about 613,200 BTC held at that average price. Since the current price is below that, these holders are sitting on losses. If Bitcoin tries to climb back above $119,000, many of these investors might sell to cut their losses, creating more selling pressure. This could make it harder for the price to recover in the short term.
Bitcoin’s recent surge to new highs has led to a noticeable change in how investors are behaving. Long-term holders, who usually keep their Bitcoin for more than 155 days, are starting to sell, which could signal a turning point in the market.
According to on-chain data, these long-term holders have sold around 52,000 BTC since Bitcoin hit its latest high. On July 29, analyst Axel Adler Jr. pointed out on X that this sell-off happened around the $118,000 mark, showing a clear shift from holding to selling, similar to past market cycles.
Also read: Is Galaxy Digital Selling Again? On-Chain Signals Hint at a Bitcoin Turning Point
If Bitcoin manages to break above its current price range, it could regain momentum and push to new highs. But if it falls below key support levels, it might lead to a steeper drop.
Bitcoin dipped below the 20-day moving average, but the long lower shadow on the candlestick suggests buyers stepped in at lower prices. As of writing, BTC price trades at $117,993, declining over 0.3% in the last 24 hours.
Right now, the bulls are trying to push the BTC/USDT pair above a key resistance zone between $119,119 and $120,220. If they succeed, the price could gain momentum and rise toward $123K, with a potential target of $135,000 based on the current chart pattern.
To turn things around, sellers would need to defend $119K and drag the price below the $115K support level. If that happens, it could catch overconfident buyers off guard and potentially send Bitcoin down to the psychological support level at $110,000.
The post Bitcoin Faces Resistance at $119K as 613K BTC Threatens Selloff: What’s Next for BTC Price? appeared first on Coinpedia Fintech News
Bitcoin’s upward momentum could face a major hurdle as over 613,000 BTC—worth billions—loom over the market, posing a significant selloff risk. With Bitcoin eyeing the critical $119K resistance level, traders and investors are moving cautiously. This potential influx of supply could stall or even reverse the current bullish trend, raising concerns about near-term volatility. Profit-Taking …
Welcome to the US Morning Crypto News Briefing—your essential rundown of the most important developments in crypto for the day ahead.
Grab a coffee to see what data says about the Bitcoin (BTC) price outlook, alongside insights into the current sentiment in the options market. Remember, this being the last Friday of April, monthly options expired today at 8:00 UTC on Deribit.
During the early hours of the Asian session, over $8 billion worth of Bitcoin and Ethereum options expired. Out of these, BTC options contracts accounted for over $7 billion in notional value.
Interestingly, Bitcoin traded well above its max pain or strike price of $86,000. Ordinarily, as options near expiration, an asset’s price would tend to gravitate toward its max pain level. While Bitcoin traded for $93,471 minutes before the options expiry, it is now selling for $94,581.
BeInCrypto contacted Bitfinex analysts for insights into the current market outlook and their perspective on what lies ahead for the Bitcoin price in the short term. According to the analysts, Bitcoin’s price could record further upside after clearing option-based resistance.
“Post-expiry, the market is leaning cautiously bullish, and with the $90,000 strike cluster now cleared, there’s less option-based resistance overhead,” Bitfinex analysts told BeInCrypto.
Further, the analysts observed that many traders have rolled exposure to higher strikes, with $95,000 and $100,000 showing increased call open interest for end-April and May expiries.
While this reflects the expected continued upside, the analysts did not rule out a potential short-term chop.
This aligns with Deribit analysts’ statements that the highest open interest for BTC options was around the $100,000 strike price. This indicates strong market expectations of Bitcoin reaching this level.
As BeInCrypto reported, the analysts ascribed this to traders selling cash-secured put options on Bitcoin. These traders also use stablecoins to collect premiums while buying BTC at lower prices.
BeInCrypto also reported that the Cumulative delta (CD) across BTC and related ETF (exchange-traded fund) options on Deribit reached $9 billion. Bitfinex analysts agree, citing rising spot flows and ETF demand.
“Spot flows and ETF demand have picked up significantly for BTC over the past few days and will now continue to dictate if BTC can establish $90,000 as support,” the analysts added.
Meanwhile, these forecasts add to the list of growing bullish bets on Bitcoin’s price, credibly confirming a sentiment shared in the previous US Crypto News publication.
However, despite strong prospects for more Bitcoin price gains, some analysts urge investors to temper their optimism. One is Innokenty Isers, the Chief Executive Officer at Paybis Exchange.
“Current market outlook suggests that Bitcoin price may face more stiff resistance moving forward. In the last two months, the uncertainty around the tariff war triggered an unusual concern for investors as many decided to temporarily steer clear of more volatile assets like Bitcoin,” Isers told BeInCrypto.
Moreover, the Federal Reserve (Fed) has spotlighted the inflationary risks the tariff war may introduce. Nevertheless, Isers acknowledged clear indications of sustained accumulation of BTC by institutional investors and market whales.
This chart shows that the top Bitcoin options by trading volume over the past 24 hours are call options with strike prices of $95,000 and $100,000, ahead of the May 2 expiry.
| Company | At the Close of April 24 | Pre-Market Overview |
| Strategy (MSTR) | $350.34 | $348.54 (-0.51%) |
| Coinbase Global (COIN) | $203.87 | $203.80 (-0.03%) |
| Galaxy Digital Holdings (GLXY.TO) | $20.68 | $23.48 (+13.56%) |
| MARA Holdings (MARA) | $14.01 | $13.98 (-0.21%) |
| Riot Platforms (RIOT) | $7.79 | $7.72 (-0.90%) |
| Core Scientific (CORZ) | $7.53 | $7.48 (-0.66%) |
The post Crypto Options Rollover Signals Bullish Tilt Toward $100K Bitcoin Breakout | US Crypto News appeared first on BeInCrypto.