Bitcoin continues to maintain its upward trend ever since the token has bounced off above the $75,000 mark. The price is currently consolidating around $95,000, flashing a possibility of a breakout, which could lead to further growth, but there is still a risk of a short-term correction. The current trade setup suggests the price has been closely accumulating below a crucial range for more than a week, which has resulted in a huge price action in the recent past. Now that the volatility has dropped significantly, can the BTC price trigger a breakout beyond the pivotal resistance at $96,200?
The BTC price is heading towards the end of the consolidation period as the token continues to remain stuck within an ascending triangle in the short term. The token has held the lower support firmly, hinting towards a potential breakout. Meanwhile, the technicals are turning bearish in the long term, which raises concerns over the stability of the rally.
After breaking from the wedge, the BTC price has reached an important resistance zone and, despite a decent upward pressure, has remained within the zone. However, the price has failed to test the 0.618 FIB at $96,200, which has now become a threshold to achieve. On the other hand, MACD shows a drop in selling pressure, and the levels are heading towards a bearish crossover.
This may raise alarms, as a drop below the POC zone between $94,000 and $94,675 may bring back the levels close to 0.5 FIB at $92,062. As long as Bitcoin is below 0.618 FIB and the POC on the volume profile, Bitcoin continues to remain in a bear market. Moreover, a Fair Value Gap has been formed around $87,000, which could be filled in the coming days. Hence, the market participants need to be vigilant as the Bitcoin (BTC) price volatility is expected to kick off during the monthly close.
Justin Sun, the founder of Tron, has been rumored to be holding over $14 million worth of the $TRUMP meme coin.
Sun Tops The List
An HTX cold wallet, believed to be linked to Sun’s, is currently topping the leaderboard. Since Trump announced the private dinner for the top 220 TRUMP holders, the crypto space has been exploding with activity. The token is trading at $12.09, down 0.6% in the past day.
As of April 25, 2025, Sun allegedly owns about 1,176,803 TRUMP tokens valued at around $14.3 million. Within an hour, the token’s price shot over 60% in reaction to the news yesterday.
Rumors are making the rounds that Sun might be attending the President’s exclusive gala dinner next month, and he is dropping hints that it could be true. The dinner is set to take place on May 22.
The wallet has been moving TRUMP tokens for the past three months and has only added more since the dinner was announced. It is also reasonable to believe that it could be a regular cold storage wallet used by an exchange. Since registering for the TRUMP leaderboard doesn’t risk the security of the tokens.
Last year, Sun invested $30 million in WLFI shortly after the election. Since then, the SEC has also moved to settle a civil fraud case against him.
Since Wednesday’s announcement, 27 crypto wallets have each acquired over 100,000 TRUMP coins, worth around $1 million each, to secure a spot at Trump’s May 22 gala. The biggest buyer scooped up 2 million coins for $24 million. The Trump-affiliated team also earns fees from each transaction, making $1.25 million in the past week.
Critics have expressed concerns that Trump’s meme coin could be used as a money-grab or a way to secretly gain political influence by making large investments to boost the coin’s value and over potential conflicts of interest.
What is the TRUMP meme coin?
The TRUMP token is a meme coin associated with Donald Trump, and holders of the top 220 amounts of the coin are invited to a private dinner at Trump National Golf Club.
Why is the TRUMP coin’s price fluctuating?
The price of $TRUMP coins has surged due to the announcement of the private dinner event, with significant buying activity from crypto wallets. However, analysts warn that once the excitement fades, the coin’s price could drop, leaving late buyers at risk of losing money.
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Justin Sun, the founder of Tron, has been rumored to be holding over $14 million worth of the $TRUMP meme coin. Sun Tops The List An HTX cold wallet, believed to be linked to Sun’s, is currently topping the leaderboard. Since Trump announced the private dinner for the top 220 TRUMP holders, the crypto space …
BitMine Immersion Technologies (BMNR), a publicly traded company focused on Bitcoin (BTC) mining, has seen a dramatic 694.8% surge in its stock price following the announcement of its $250 million Ethereum (ETH) treasury strategy.
The firm has also appointed Tom Lee, CIO of Fundstrat Capital, as the chairman of its board of directors.
BitMine Announces Ethereum Treasury Plans
According to the press release, BitMine is set to raise $250 million through a private placement. The offering will involve the sale of over 55 million shares at $4.50 per share. The transaction is expected to close on July 3.
“The private placement will accelerate BitMine’s treasury holdings shortly after its first treasury purchase on June 9, 2025. FalconX, Kraken, and Galaxy Digital plan to partner with the Company to grow a world class Ethereum treasury strategy alongside existing custody partners, BitGo and Fidelity Digital,” BitMine’s CEO, Jonathan Bates, stated.
“A differentiating feature of Ethereum is the enabling of smart contracts and the majority of stablecoin payments, tokenized assets, and decentralized financial applications are transacted on Ethereum,” the firm noted.
This treasury will also provide the firm access to Ethereum’s native blockchain features, including staking and decentralized finance (DeFi) applications. These capabilities will enable BitMine to generate additional value from its ETH holdings while maintaining its focus on Bitcoin mining and other core business operations.
“Goal: make BitMine the largest publicly traded ETH holder, mirroring what MicroStrategy did for BTC, except with an asset that actually yields. Lee calls the model the “MicroStrategy of Ethereum,” analyst Eric Conner wrote.
Notably, the announcement led to a notable rise in the firm’s stock prices. Google Finance data showed that BMNR’s value appreciated by 694.8% to close at $33.9. The positive momentum continued in after-hours trading as the stock rose further by 40.4%.
BitMine Immersion Technologies Stock Performance. Source: Google Finance
Tom Lee, now Chairman of BitMine, likened stablecoins to the ‘ChatGPT of crypto,’ emphasizing how they have quickly gained traction among consumers, merchants, and financial services providers.
Previously, Treasury Secretary Scott Bessent projected that the stablecoin market could grow to $2 trillion by 2028. Since Ethereum is the primary blockchain for stablecoin transactions, ETH is well-positioned to benefit from this growth.
“One of the key performance metrics (KPI) for BitMine going forward is to increase the value of ETH held per share. This can be achieved by a combination of reinvestment of the Company’s cash flows, capital markets activities, and by the change in value of ETH,” he added.
Lee is not alone in his optimism about Ethereum’s prospects. Experts foresee the altcoin reaching new heights as stablecoins gain increased attention.
“The recent movement regarding the GENIUS Act, which provided a long-awaited regulatory framework around stablecoins, has been a major catalyst for ETH’s recent performance. As the home to the majority of stablecoin volume, Ethereum stands to benefit a lot from this policy development due to its role in supporting the stablecoin infrastructure,” MEXC Research told BeInCrypto.
MEXC Research suggested that as risk sentiment improves with stabilizing geopolitical conditions and enhanced global liquidity, ETH is positioned to experience further growth in the coming weeks.
They forecasted that if macroeconomic factors remain favorable, ETH could potentially rise to $3,000 or even $3,300. However, an unexpected event, like a ‘black swan’ scenario, might cause a drop below $2,350, leading to a deeper correction towards $2,100.
