Roswell, New Mexico, has made history by becoming the first city in the United States to adopt Bitcoin as part of its strategic financial reserves. This move marks a bold step toward integrating digital assets into public finance. By holding Bitcoin, the city aims to diversify its treasury and position itself for long-term financial strength. Roswell’s decision reflects growing interest in Bitcoin as a hedge against inflation and a modern store of value for municipalities.
Ever since Trump’s tariff war was reinstigated, the crypto markets have shaken a bit. The star token Bitcoin price faced massive upward pressure, dragging the levels below $79,000. Besides, the Chainlink price also plunged from the local highs at $17 to $13, while the bulls quickly triggered a strong rebound. This may suggest a rise from a bearish influence, but in the wider perspective, bearish clouds continue to hover over the LINK price rally as the token has yet to enter the demand zone.
Does this suggest Chainlink may validate a fakeout? Will the LINK price drop below $10?
The LINK price gained immense attention ever since it broke out from the prolonged consolidation in 2023. Since then, the price has maintained a healthy ascending trend and marked interim highs above $30. However, the bullish dominance over the rally faded, causing the price to plunge close to $13. Currently, the price has triggered a rebound from the lows, but a couple of factors suggest the price is still under massive bearish pressure.
Data from Santiment suggests the whales have halted accumulating LINK, which raises concerns over the next price action.
The above chart shows that the supply held by the top LINK addresses has halted accumulating the tokens since mid-December. Before this, the whales had been constantly accumulating the tokens and a sudden halt in the accumulation suggests the decrease in the confidence of the whales. Currently, the top 5 wallets are holding nearly 18.15% of the entire supply, worth nearly $2.93 billion. Meanwhile, it may also be considered as the whales stacking the tokens, aiming to prepare for a big move.
Will LINK Price Rise Above $20 or Drop Below $10?
The LINK price has been forming constant lower highs and lows, indicating the rising strength of the bears. Although the bulls have triggered a bullish rebound, the price continues to remain under bearish influence until the token does not clear a pivotal resistance zone. The price rose above $16.5 in the early trading hours but quickly faced a 5% pullback, suggesting a strong presence of the bears.
The price has triggered a strong rebound but is expected to trade within a consolidated zone. The DMI is preparing for a bullish crossover, but the ADX is preparing for a bearish divergence. Besides, the RSI remains elevated, hinting towards the growing strength of the rally. On the other hand, the volume remains restricted below the average levels, hinting towards a drop in the volatility. Therefore, the Chainlink (LINK) price is believed to accumulate within a narrow range for a while and may trigger a bullish rebound once the buying pressure increases.
Although the bullish potential remains lower, the LINK price is not subjected to dropping to $10 as the market sentiments have not turned completely bearish. Therefore, after choppy behaviour, the Chainlink price is believed to trigger a huge breakout to $20.
The post Despite a 15% Upswing, Bearish Clouds Continue to Hover Over the Chainlink (LINK) Price Rally—Here’s Why! appeared first on Coinpedia Fintech News
Ever since Trump’s tariff war was reinstigated, the crypto markets have shaken a bit. The star token Bitcoin price faced massive upward pressure, dragging the levels below $79,000. Besides, the Chainlink price also plunged from the local highs at $17 to $13, while the bulls quickly triggered a strong rebound. This may suggest a rise …
Cryptocurrency exchange Coinbase has announced it will add support for Reserve Rights (RSR) on the Base network. The exchange also mentioned that the transfers are already available on both Coinbase and Coinbase Exchange in regions where trading is supported.
Coinbase Listing Coincides With Paul Atkin’s Development
According to the announcement, trading for RSR will begin on or after 9AM PT on April 22, 2025. The news comes as the RSR token shows strong price performance across multiple timeframes. The token has jumped 7.7% in the past 24 hours, 7.2% over seven days, and also 24.3% over the past month.
Coinbase will add support for Reserve Rights (RSR) on the Base network. Do not send this asset over other networks or your funds may be lost. Transfers for this asset are available on @Coinbase & @CoinbaseExch in the regions where trading is supported.
This upward momentum coincides with recent developments related to Paul Atkins, who has connections to the Reserve Rights project and was recently confirmed as President Trump’s next Chairman of the Securities and Exchange Commission.
The timing of Coinbase’s announcement has drawn attention given the token’s connection to Atkins. He previously served as an advisor to the Reserve Rights Foundation during the project’s early development phase.
The top crypto exchange has provided specific details about how the RSR token will be integrated into its platform. The exchange will support Reserve Rights exclusively on the Base network.
The roll-out will be phased and trading will commence on or after 9 AM PT on April 22, 2025. With that noted, the timeline is subject to liquidity levels being met. When sufficient supply of RSR is accumulated on the exchange, trading will start on the RSR-USD trading pair first.
Atkins Connection And RSR Listing
Coinbase’s timing of listing RSR has been questioned due to the token’s connection to Paul Atkins. Atkins served as an advisor to the Reserve Rights Foundation. This was when the project was still in its early phase of development.
As a former SEC Commissioner before accepting his advisory role with Reserve Rights, Atkins advised the project when it was beginning. Reserve’s co-founder and CEO Nevin Freeman publicly praised Atkins’ contribution to the project. He also complimented his balanced way of regulating cryptocurrencies.
I’m pleased to hear that Paul Atkins is in the running for SEC chair!
Paul has been open to working with crypto clients in his consultancy since 2017. I believe he would take a principled approach and I’d be very excited to work with him and his team on productive rule makings… https://t.co/Xp88ha0H8z
Market experts have credited RSR’s recent price appreciation partially to hopes that Atkins’ SEC Chair nomination could bring a crypto-friendly regulatory period for cryptocurrency projects. This can be seen from the token’s robust performance.
The recent announcement comes amidst Coinbase’s renewed legal battle as Oregon’s Attorney General prepares to file a securities enforcement action against the cryptocurrency exchange.
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