Tesla and X owner Elon Musk has triggered a once-in-a-while parabolic rally for frog-themed memecoin, Kekius Maximus (KEKIUS). This token was created by the billionaire’s followers, who generally track his profile changes on social media platforms. The token was created last year when the Tesla founder first changed his X profile name to Kekius Maximus. This action generally fuels a rapid price breakout for associated tokens. The Elon Musk and Kekius Maximus Link After months, he changed the profile name, the billionaire once again reinstated it, a move many considered a shoutout for the memecoin. Notably, different token variants were created the first time Elon Musk updated his profile photo with the name. One of the variants with the biggest liquidity is KEKIUS. According to data from CoinMarketCap, this token has jumped by 119% in 24 hours to $0.0502. This surge is unusual, as the token maintained an average price… Read More at Coingape.com
As the broader crypto market begins to recover from recent lows, on-chain data reveals a growing behavioral divide between Bitcoin’s long-term and short-term holders.
Its Long-term holders (LTHs) have resumed net accumulation for the first time since the last local top, while short-term holders (STHs) appear to be exiting the market.
BTC LTHs Return to Accumulation as STHs Capitulate
In a new report, pseudonymous CryptoQuant analyst IT Tech noted that a clear behavioral divide has emerged between BTC’s LTHs and STHs, suggesting the early formation of a re-accumulation phase.
This is based on an assessment of BTC’s Net Position Change for Long-Term Holders (LTH), which, per the analyst, has now flipped positive for the first time since BTC’s last local peak.
“This suggests that experienced, conviction-driven participants are gradually returning to accumulation after several months of sustained distribution. Their activity often reflects strategic, cycle-aware repositioning, not necessarily whale-sized capital flows,” the analyst noted.
Meanwhile, BTC STHs—those who have held BTC for less than 155 days—are selling into weakness, with net outflows remaining firmly in negative territory. This trend suggests capitulation, as newer investors reduce their exposure to the coin in response to recent price troubles.
Bitcoin Long-Term Holder Net Position Change. Source: CryptoQuant
IT Tech noted that this behavioral divergence “tends to signal early stages of a re-accumulation phase.”
“Suppose long-term participants continue increasing their positions while short-term supply gets flushed out. This setup may serve as a constructive base for future price recovery, even if short-term price action remains choppy,” the analyst said.
Momentum Builds for Bitcoin as Buying Pressure Surges
On the daily chart, BTC’s positive Chaikin Money Flow (CMF) reflects increasing investor demand and positive cash flow momentum. This further reinforces the possibility of a bullish breakout as projected by the analyst.
At press time, this momentum indicator, which measures how money flows into and out of an asset, is at 0.10. A positive CMF reading like this indicates that buying pressure outweighs selloffs among market participants and hints at an extended price growth for BTC.
Moreover, the coin’s Aroon Up Line currently sits at 100%, reinforcing the strength of its ongoing uptrend.
An asset’s Aroon Indicator measures the strength and direction of a trend by tracking the time since the highest and lowest prices over a given period. It comprises two lines: Aroon Up, which measures bullish momentum, and Aroon Down, which tracks bearish pressure.
As with BTC, when the Aroon Up line is at 100, it signals strong upward momentum and a dominant bullish trend. This suggests that buying pressure is high, and the price may continue rising.
BTC Bulls Eye New Highs
BTC now trades firmly above the key support formed at $91,851. If the bullish pressure holds and demand rockets, the king coin could continue its uptrend to exchange hands at $95,971.
However, if traders resume profit-taking, this bullish projection will be invalidated. In that scenario, BTC’s price could retest the support at $91,851. Should it fail to hold, its price could fall to reach $87,730.
TRUMP, the meme coin that gained attention after the much-discussed TRUMP dinner, has been facing difficult price action in recent days. The token has lost traction, with its price slipping and bearish sentiment creeping into the market.
As the price continues to struggle, the likelihood of a further decline now outweighs any potential recovery, leaving traders in a precarious position.
TRUMP Traders Face Losses
The liquidation map for TRUMP reveals data concerning traders. Approximately $31 million worth of short contracts are at risk of liquidation if the price of TRUMP rises to $14.52. This is a critical threshold for shorts, as their positions would be liquidated if the price surges beyond this point.
The demand for a price drop signals that many investors no longer believe in the potential for further gains. Instead, they are positioning themselves for a fall in price, suggesting waning optimism in the short-term outlook for TRUMP.
On the macro level, technical indicators paint a bearish picture for TRUMP. The Relative Strength Index (RSI) has recently slipped below the neutral 50 mark, signaling a shift into the bearish zone. This decline in the RSI indicates that the price of TRUMP is vulnerable to further downward pressure if the negative momentum strengthens.
As the RSI continues to trend lower, TRUMP is increasingly susceptible to price declines. The inability to regain bullish momentum leaves the token in a precarious state, with the potential for further losses if the current trend persists.
At $12.65, TRUMP is currently grappling with a lack of bullish momentum. Despite the hype surrounding the TRUMP dinner, the token has fallen by nearly 15% since the event, indicating that the market has failed to sustain its earlier enthusiasm.
This decline reflects broader skepticism about the token’s future performance.
For TRUMP to recover, it would need to see a significant rally, requiring a nearly 15% increase to reach $14.53. However, given the current market conditions and broader sentiment, this level seems difficult to achieve.
Instead, it is more likely that TRUMP could break through its current support at $12.18, leading to a further drop to $10.97.
That said, if there is a sudden shift in demand driven by new investors, TRUMP could see a surge. A strong push past $13.36 could set the stage for a rise to $14.53, triggering a liquidation of $31 million worth of short positions.
Such a move would cause significant volatility in the market, potentially providing a sharp rebound for the altcoin.
Mayer Mizrachi, the mayor of Panama City, Panama, announced today that the city government will accept payments in crypto. It will accept Bitcoin, Ethereum, and two stablecoins for taxes, permits, fees, etc.
However, Mizrachi clarified that the municipal government has a legal requirement to accept these funds only in USD. It will exchange cryptoassets for cash with a partnered bank, presenting a severe limit to potential crypto adoption.
Is Panama City Accepting Crypto?
In the last few months, a tide of pro-crypto regulationhas swept over many of the world’s jurisdictions. This obviously includes the United States at the federal and state levels, but many other countries are rising to the occasion.
Case in point, the mayor of Panama’s capital city just announced that the municipal government will accept payments in crypto.
“Panama City council has just voted in favor of becoming the first public institution of government to accept payments in crypto. Citizens will now be able to pay taxes, fees, tickets and permits entirely in crypto starting with BTC, ETH, USDC, USDT,” claimed Mayer Mizrachi, the mayor of Panama City.
Mizrachi went on to explain some previous efforts to accept crypto payments in Panama. Four years ago, a legislative initiative tried to enable crypto payments all over the country.
It got some traction but eventually stalled out in 2022. In 2023, the Supreme Court ruled the bill “unenforceable.” Since then, it doesn’t seem like any other serious efforts have made progress.
Panama City’s municipal government is circumventing the legislature to accept crypto payments, but the strategy has significant drawbacks. Mizrachi explained that public institutions must receive funds in US dollars, and he couldn’t circumvent this requirement.
In other words, any crypto payments will actually go to a partnered bank. The bank will actually custody (or dispose of) these assets, while the city only holds USD. Mizrachi’s effort avoids a contentious legislative battle, but its actual impact might be severely limited.
Although Panama has its own currency, the balboa, the US dollar has more legal standing in a few different ways. It’s a legal tender; public institutions have to accept it, and the balboa is actually pegged to the dollar anyway.
Mizrachi explained that this short workaround will increase “the free flow of crypto” through Panama’s economy, but it may not be that simple. Depending on the agreement between the city government and partnered banks, it could just dump its cryptoassets on the international market.
If Panama wants to actually adopt cryptocurrency, it may need more sustainable measures integrated to the local economy.
