XRP price is on the verge of a crash to $2 after forming a bearish head and shoulders pattern on the daily chart. As this crash looms, XRP faces the risk of $38 million in long liquidations, which will intensify sell-side pressure and trigger a massive price decline. XRP trades at $2.12 today, May 31, with trading volumes surging by 14% in 24 hours per CoinMarketCap data. The price was teetering from the typical weekend volatility, with XRP dropping by 3.6% in 24 hours. XRP Price Crash to $2 Looms Amid Bearish Pattern Ripple price trades within a bearish head and shoulders pattern, as it defends a diagonal support level. This chart pattern usually indicates weakening bullish momentum and the entry of bears in the market, which will drag the price lower. The target price for the head and shoulders pattern is the size of the head, which shows that… Read More at Coingape.com
Bitcoin has made it to the center stage of the crypto market again, not just for its price hovering around the all-time high, but also for the strategic moves happening behind the scenes. Strategy recently purchased 4,020 BTC at an estimated cost of $427 million, fueling speculation about a potential leg up. However, the market seems divided by views. While price holds above $109k, investors are now eyeing the on-chain trends, liquidation data, and whale moves for clues on the next move.
Smart Money vs. Retail Money?
Recent insights from Glassnode reveal a crucial shift, where the greater than 10k BTC cohort (the market’s largest players) have moved into a net distribution zone with a score around 0.3. This is an obvious reversal from earlier in the year, when whales were leading accumulation during price rallies.
Other cohorts like the 1k to 10k holders and the 100 to 1k BTC holders are also slowing down. While wallets with 10 to 100 BTC and sub-1 BTC continue their shopping spree. Further suggesting that leadership is moving downward on the wallet-size curve. This implies that the retail is buying the dip, while whales may be booking profits or analysing an incoming volatility.
What Does the Liquidation Heat Map Say?
The liquidation map by Kingfisher gives another layer of insight. With Bitcoin currently priced around $109k, there’s a significant buildup of long liquidation just below the $109k, $108.5k, and $107k mark. This indicates a potential liquidity grab to the downside that could be in the works, which could be driven by leveraged long positions at a risk of being wiped out.
It is to note that, above the present BTC price, short liquidation levels seem to be weak, indicating less momentum for an upward squeeze. Correlating this with the distribution by large holders paints a picture where short-term downside volatility is not just possible, but is statistically favored. However, it is worth citing that such moves often reset leverage and provide stronger bases for continuation.
Bitcoin (BTC) Price Analysis:
Bitcoin price today is down 0.40% at $109,222.37, but still holding a 3.37% gain over the past week. The market cap sits at $2.17 trillion, slightly lower day-over-day, while 24-hour trading volume surged to $50.45 billion. The price ranged between $107,609.56 and $110,376.88, showing short-term volatility. We can expect a pullback before the next ATH, which could be around $113k.
The Bitcoin price today is down a negligible 0.40% to $109,222.37, however, the trading volume is up 5.77% with an inflow of $50.45 billion.
2. What levels should investors watch?
The key levels to watch are $107k–$109k, if BTC dips here, strong reactions could occur from liquidation-driven volatility.
The post Whales Selling, Retail Buying: Is Bitcoin Price at $109k on Crossroads? appeared first on Coinpedia Fintech News
Bitcoin has made it to the center stage of the crypto market again, not just for its price hovering around the all-time high, but also for the strategic moves happening behind the scenes. Strategy recently purchased 4,020 BTC at an estimated cost of $427 million, fueling speculation about a potential leg up. However, the market …
Tensions are heating up between India and Pakistan, following the former’s recent missile attack on the latter. This development is significant considering how it could negatively impact the crypto market, as war brings about market uncertainty.
India Retaliates Against Pakistan With Missile Attacks
According to a CNN report, India has launched a military operation against Pakistan, striking “terrorist infrastructure” in both Pakistan and the country’s administered Kashmir. According to the Indian Ministry of Defense, these steps come in the wake of the barbaric Pahalgam terrorist attack, which killed 25 Indians and one Nepali citizen.
The statement also stated that the attacks were focused, measured, and non-escalatory in nature, as no Pakistani military bases were targeted. However, Pakistan claimed that the strikes killed three civilians and injured twelve others.
Pakistani military spokesperson Ahmed Sharif Chaudhry made it clear that they plan to retaliate, which will further escalate tensions. Pakistan’s prime minister also stated that they are responding to India’s attack. The country has allegedly already shot down two Indian jets in retaliation for strikes on its “territory.”
Meanwhile, in an X post, the Indian army stated that Pakistan has again violated the ceasefire agreement by firing artillery in Bhimber Gali in the Poonch-Rajauri area. The army remarked that they are responding appropriately in a “calibrated manner.”
This development could significantly impact the crypto market, possibly leading to a crash. Following the attacks, the Bitcoin price sharply dropped below $95,000.
Crypto analyst Crypto TA King noted how a full-blown war could harm the market. Analyst Crypto King also predicted this could be a red market week, unless the India-Pakistan attacks settle.
Meanwhile, US President Donald Trump commented on the attack, stating that he hopes it ends quickly. The missile strikes comes just a day after India made big concessions in Trump’s trade war, another external factors which continues to hinder a crypto market rally to new highs.
