While the market had a decent chance for a solid recovery, which we highlighted in our previous crypto market prediction, we are seeing signs that hint at the problematic state of the current rally. However, in the case where Bitcoin breaks through around $115,000, the acceleration would be imminent even on Sept. 12.

Shiba Inu’s bullish approach

Shiba Inu is stabilizing around $0.000013, and it is starting to exhibit technical dominance. SHIB is now taking back key moving averages after months of sideways consolidation and unsuccessful breakout attempts, setting itself up for possible growth in the near future.

SHIB has successfully broken through its 50-day Exponential Moving Average (EMA) on the daily chart, a technical milestone that frequently denotes a change in momentum from bearish to bullish. Throughout SHIB’s downward trend, the 50 EMA has continuously served as resistance, making this move noteworthy. Traders are starting to see this as a structural shift in market sentiment, now that the token is trading above it.

With rising volume and a strengthening Relative Strength Index (RSI), which is currently hovering just below overbought levels, the current price action indicates that SHIB is beginning to form a gradual uptrend. This shows that, although there are no immediate signs of exhaustion, buying interest is growing.

The next resistance levels to keep an eye on, if momentum keeps up, are the 200-day EMA at about $0.000014, and the $0.000015 zone, which has historically been a region with a lot of liquidity.

Looking at it more broadly, SHIB’s dominance is psychological as well as technical. Retaining price stability above the $0.000013 threshold boosts holders’ confidence, which lowers panic-selling and promotes accumulation. Given its ability to withstand market volatility, the token is becoming more and more significant in the meme-coin ecosystem, where it is still vying for market share with Dogecoin.

But caution is still required. Even though the 50 EMA breakthrough is a positive sign, SHIB still has to contend with longer-term resistance lines that might halt its upward trend if market sentiment declines. Investors ought to keep an eye on SHIB’s ability to maintain its position above the 50 EMA and progressively test higher moving averages.

XRP approaches key level

A critical test that could determine XRP’s short-term course is approaching at $3.00. As momentum builds toward a potential breakout attempt within the next day, the asset has been consolidating below a descending trendline. Just below the crucial psychological and technical barrier at $3.00, XRP is currently trading at about $2.99 on the daily chart.

Bullish sentiment has been strengthened by the recent rally, which has been bolstered by robust buying volume and a recovery above the 50-day and 100-day EMAs. The 200-day EMA and the descending resistance trendline, however, are convergent around the $3 area, making it a difficult obstacle to overcome.

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In the short term, if XRP is able to break through $3 with convincing volume, it may lead to a surge of buying momentum that pushes the asset toward $3.30 to $3.50. This would confirm the bullish outlook for the upcoming weeks by clearly reversing the trend from its most recent corrective phase.

But if $3 is not broken, there may be rejection and a decline toward $2.80 or even $2.70, where the 100-day EMA offers support. This situation would prolong the consolidation phase by indicating that bulls are not yet powerful enough to overcome resistance.

The next day is important for investors. Rejection could result in another period of range-bound trading, while a confirmed breakout above $3 would suggest the possible beginning of a larger rally. Increased volume and momentum shifts around the $3 mark are indicators that traders should keep an eye out for, because they will shed light on XRP’s immediate trajectory.

Bitcoin’s steady rise

Bitcoin is stabilizing close to the $114,000 mark, laying the groundwork for what may be a rally toward the much-awaited $150,000 mark.

Bitcoin has successfully surpassed its 50-day Exponential Moving Average (EMA), which is frequently regarded as a turning point for momentum, following weeks of consolidation and testing lower supports. During corrective phases of recent market cycles, the 50 EMA has proven to be a dependable resistance barrier. Bitcoin’s recovery of this level suggests that there may be a change from short-term pessimism to fresh bullish sentiment. Because the 50 EMA breakout has historically preceded robust price recoveries, traders frequently see this as the first confirmation of a structural rebound.

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Buying activity is steadily rising, and volume patterns are supporting the breakout. Although it is still below overbought levels, the Relative Strength Index (RSI) is rising at the same time, suggesting that there is still potential for more upside without any immediate signs of exhaustion. If momentum continues, the next crucial resistance levels are located between $118,000 and $120,000, which is where liquidity has traditionally gathered.

Generally, the market is looking positive, but numerous reversal signals are there, so becoming euphoric too early is certainly not the call here. Staying put at around local resistance and awaiting breakthroughs on altcoins would be the only sign of a continuation at around this level.

Over the past several weeks, XRP, Shiba Inu and Bitcoin have faced furious bearish pressure on the market: XRP, for example, struggled at key moving averages; Shiba Inu attempted to break free from a prolonged triangle formation; and Bitcoin tried to find grounds for a recovery — all without much success. However, the selling pressure is winding down, and sentiment can shift at any given moment.

XRP bears giving up?

Over the past few weeks, XRP has been consistently under bearish pressure, with sellers holding sway after the asset was unable to recover the $3 psychological level. Right now, XRP is trading at about $2.081, just above the 100-day EMA, which has served as a crucial support line. Investors now need to determine if the bears have more fuel in their tanks or if exhaustion is starting to set in.

An extended pullback after the July peak near $3.70 is visible on the chart:

• XRP has not crashed, as some had anticipated, despite market pressure from lower highs and persistent selling. Rather, buyers appear willing to defend in the $2.75-$2.85 range, where price action has stabilized. This consolidation might indicate that bears are losing ground.

• This outlook is supported by volume data. The declining trading activity suggests a significant slowdown in selling interest. Volume usually rises during breakdowns on bear markets, but the limited participation during XRP’s most recent declines suggests that sellers are losing faith.

Technically, the RSI is at 44, which indicates a slight bearishness but is still well below oversold extremes. This implies that, while there is still potential for a decline, the circumstances for a disastrous plunge are not always present. A more dramatic sell-off below the 200-day EMA seems unlikely in the absence of a significant catalyst, but a decline toward the 200-day EMA at $2.50 is still possible if overall market sentiment deteriorates.

Bitcoin’s comeback

Following a decline below $110,000 earlier in the week, Bitcoin has made an unexpected comeback, regaining the $112,000 level. On the surface, such a move might seem bullish, but it is also among the riskiest and least convincing recoveries the asset has displayed in recent months.

With the 50-day EMA close to $115,000 serving as a ceiling, Bitcoin is currently trading between $110,900 and $112,600, just below important resistance levels. It is challenging to categorize this rebound as a strong one because it occurred with a low trading volume. Low-volume recoveries close to crucial price thresholds have a history of losing momentum and resuming downward drift.

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Technical indicators draw attention to the degree of uncertainty. However, it does not show much buying enthusiasm, the RSI stays neutral at 45, allowing Bitcoin to rise. In the meantime, the 200-day EMA is at $104,000, which could act as a downside magnet if buyers are unable to hold $110,000. From a psychological standpoint, both bulls and bears now find $112,000 to be an uncomfortable pivot zone.

Although history demonstrates that volatility is frequently preceded by sharp low-volume recoveries, investors may view this as a short-term opportunity. If Bitcoin is unable to break through the $115,000 barrier, it may swiftly return to the $108,000-$106,000 level.

Traders need to exercise caution. Although there is some respite from the recent rebound, it lacks the volume and structural support that usually validates long-term improvements. It might be better for long-term investors to hold off on reevaluating bullish positions until consolidation occurs above $115,000.

To put it briefly, Bitcoin’s $112,000 comeback is surprising but precarious. In the absence of increased volume and momentum, the digital gold could revert, reminding investors that the current market cycle is still dominated by volatility.

Shiba Inu: Cautious optimism

Shiba Inu has spent a large portion of the year in a protracted downward trend, failing to make significant progress as other assets tried to recover. But, at last, a significant positive indication might be showing up on the charts, giving SHIB holders cause for cautious optimism.

SHIB is now trading close to $0.0000122 and has been following a symmetrical triangle pattern that is getting smaller. Significantly, recent candles indicate that sellers might be losing ground as SHIB tries to turn upward from the triangle’s lower boundary. Following weeks of consolidation and numerous setbacks at higher resistance levels, this is the first genuine indication of bullish strength.

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The moving averages are starting to come into play as well. SHIB has repeatedly tested the 50-day EMA without breaking sharply lower, indicating that buyers are likely protecting this region. Should momentum persist, SHIB may move in the direction of the 100-day EMA at $0.0000130 and then attempt to break through the 200-day EMA at $0.0000139, a crucial level that would validate a longer-term reversal.

The relative strength index (RSI), which has leveled off at 46 and is suggesting that it may rise, is another positive indication. That permits upward momentum without running the risk of running out of energy right away.

For investors, this suggests that SHIB might be about to enter a transitional phase, where the downward momentum is waning, but it does not ensure a complete breakout. If SHIB closes above the 100-day EMA and stays there, there may be a significant increase in confidence in a short-term recovery.

Although bearish influence has not fully disappeared, the downside momentum across XRP, SHIB and Bitcoin is showing signs of exhaustion. Buyers are defending key levels, but without stronger volume and bullish support, any potential rallies risk losing steam. Until structural support and sustained breakouts above major resistance levels materialize, the market’s current state remains fragile.

For a couple of months now Bitcoin has been showing record low volatility and the lack of momentum leaves crypto traders in tension, waiting for signs of a new rapid movement of the first cryptocurrency. The overall hype around Bitcoin has gone down, but what if the current uncertainty results in a strong upward trend? Or will the crypto price fall? Currently Bitcoin is traded at $9 300, but sooner or later a flat dynamic might turn into a trend or the opposite. Read the full article for a technical analysis of Bitcoin and make up your mind about it.

Since its low of $3 800 in the end of March, Bitcoin made it to $10 000 in two months (around the 1st of June) and has been fluctuating between $8 500 and $10 000 ever since. June and July were months of uncertainty and there are multiple forecasts with traders waiting for Bitcoin to break the support or resistance levels. 

The previous trend was positive and Bitcoin doubled in price, could the current consolidation result in the growth of the asset? The overall positive tone of the stock market might create the basis for it, but it is not set in stone. 

The recent growth of Bitcoin created many trading opportunities for crypto traders and the current events may result in even more potential chances. Let’s turn to technical indicators and see what they have to offer. For all indicators, examples of a price chart for 30 days with candles of 12h interval are being used. 

RSI + Bollinger Bands

First on the list: a popular combination of RSI and Bollinger Bands. Bollinger Bands show that the asset has crossed the upper band and currently moves upwards, while RSI gives a signal that the asset is overbought. This could mean that the starting positive trend may reverse and turn into a diminishing one, as asset prices do not normally stay long in the overbought or oversold areas. 

Chande Forecast Oscillator

This momentum indicator may be used on its own to potentially predict the future price direction. As it is obvious from the chart, the indicator was showing price growth for some time, but now it could possibly reverse and drop below the 0 value of the indicator. Only time can tell what will actually happen.

ADX

ADX shows a bullish crossover with the trend strength slowly rising (the ADX line crossed the 20 value and tends up). Does this mean that Bitcoin could potentially gain momentum and break through the resistance level at $10 000 – $10 300? 

Though ADX shows a positive trend, other indicators point out the possible drop in price.  Even with the current drop in volatility, BTC stays one of the most traded assets and there is no doubt that soon the asset will surprise everyone with new records. Of course, it is important to study the market well before entering it and checking the signals with other indicators might be a good practice.

Finally, it is always important to note that past performance is not an indicator of future performance. It is important to remember that no indicator shows 100% accurate signals and that divergences may happen. 

By breaking through the crucial $0.24 resistance, Dogecoin has dealt a severe blow to bearish sentiment and rekindled bullish momentum. Since it is a significant threshold that many traders expected to mark the beginning of a more thorough price reversal, traders have been closely monitoring this breakout level. The move above $0.24 signifies a potential long-term retrace, rather than a psychological victory for bulls.

In previous weeks, this level had served as a rejection point, halting several attempts to rise. After clearing it, DOGE can now take on stronger resistances; the next significant target is in the $0.27-$0.28 range. The potential golden cross — in which the 50-day EMA is expected to cross above the 200-day EMA if upward momentum persists — is one of the most bullish technical developments that is imminent. 

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Such a crossover is typically associated with long-term rallies and is regarded as a bullish signal. This breakout has gained credibility due to the steady increase in volume. Strong market participation is confirmed by rising trading activity, which lowers the possibility of a false move. This volume increase indicates that real buying pressure, not speculative short-term speculation, is driving the rally. 

Technically speaking, DOGE is likewise comfortably above its three main moving averages, the 50-100 and 200-day EMAs, indicating widespread support for the current trend. If momentum continues, these levels ought to maintain the bullish structure by serving as a buffer against transient declines.

For the breakout to be confirmed in the near future, DOGE must keep its position above $0.24. The market could fully recover from its recent decline and possibly pave the way for a long-term bullish cycle if bulls are able to gather enough momentum to target $0.27 and higher.

Shiba Inu shows teeth

Following its breakout from a descending triangle formation, which marks the conclusion of a consolidation phase and the beginning of a new upward trend, Shiba Inu shows a strong position on the market. The breakout coincides with a recovery from an upward trendline that has served as steady support since the beginning of July. The 200-day EMA is one of the most important levels to watch right now. 

Historically, this long-term moving average has served as a deciding barrier for the direction of SHIB’s trend. The likelihood of a more substantial price recovery rises sharply if bulls can push the price above this level with consistent volume. The path toward $0.000015 and possibly the $0.00002 region could be opened by a successful break. 

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The bullish case is supported by recent on-chain data. Within a few days, the daily unique wallet activity on SHIB increased from roughly 3,000 to nearly 4,000, a roughly 30% increase earlier this month. Even though activity has since returned to normal below 3,000, this brief spike suggests that the market is once again interested and that new liquidity may be entering the system.

Such wallet growth periods have typically coincided with significant price increases. Further supporting the optimistic outlook is the approaching bullish cross of the 50-day EMA above the 100-day EMA. This crossover could draw more technical traders buying interest and would validate improving medium-term momentum. Only a 10% increase in price based on current activity would set off this signal, which could support a current rally. 

Solana’s unexpected rise

Solana, one of the market’s most resilient altcoins, has regained its prominence after soaring to the $200 mark, maintaining its recent bullish momentum. Fitting into a recurrent market pattern seen since 2021, the move occurs as the larger cryptocurrency market cools off after Ethereum’s powerful rally. Ethereum typically leads with a price spike, enters a correction phase and Solana then catches up with its own rally.

At $205, SOL is currently trading just below its next significant resistance level. The market may retest higher ranges earlier in the year if there is a strong breakout above this level, which has historical significance as a rejection point. In contrast to thin-market spikes, the recent surge is supported by strong volume, indicating real buying pressure. Since taking it back in late July, Solana has remained technically strong above its 200-day EMA. 

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After the 50-day EMA successfully retested, buyers intervened to protect important support levels, sparking recent upward movement. The market’s propensity to shift capital from Ethereum to other high-performance layer-1 blockchains with Solana frequently reaping the main benefits is consistent with this bullish price action. Despite the fact that momentum indicators are getting close to overbought territory, the absence of sudden selling pressure indicates that bulls are still in charge. 

The battleground will be at $205, which, if broken with significant volume, could result in quick upward extensions, possibly reaching $220 and higher. Short-term consolidation, however, might be triggered if Ethereum fails to break above $205, particularly if it starts another upward leg and draws the markets attention back to itself.

Solana’s price action is currently in line with its historical market rhythm, and traders are keeping a close eye on whether this rally will continue to resemble the cyclical patterns of 2021-2022.

Large-scale liquidation in the crypto landscape makes people wonder what the best cipher to buy now. The market looks bearish right now as Bitcoin (BTC) has fallen from $117,000 to $113,000 and Ethereum has fallen from $3.7,000 to $3.4K.

According to X’s post by Maelstrom CEO Arthur Hays, macroeconomic factors such as weak credit expansion across the major economies are slowing growth in nominal GDP and could be involved in reducing BTC and ETH to $100K and 3K levels.

24 hours7d30D1Yeverytime

Hayes’ comments reflect broader industry concerns that harsher credit, rising tariffs and tensions from the cooling labor market could derail the upward trajectory of the crypto.

BTC has slid 7.7% since its peak at $123,000 on July 14th, while ETH has fallen 12.5% since violating the $3.9,000 barrier on July 28th. The retreat to $100K represents a pullback of 18.7% from the recent highs in BTC.

Meanwhile, many industry analysts point out that BTC is past double digit pullbacks of all kinds. Bloomberg ETF analyst Eric Balknass notes that since BlackRock’s spot BTC ETF filing, the crypto king has faced a lesser degree of volatility.

Bitcoin cycles, as we know, are dead.

This phase cannot be compared to a phase that has come before.
It’s not on scale.
It’s not a structure.
It’s not something that’s in danger.

What we’re looking at now is not a response to supply, but the way Bitcoin is absorbed into the system.

That flows…

-IE Nagar (@Elinagarbrr) August 2, 2025

Meanwhile, the Fear and Greed index fell from 65 on Thursday to 53, and is now in the neutral zone. However, analysts argue that the decline in BTC is nothing more than a bullish reset.

Explore: Best Meme Coin ICO to Invest in August 2025

XRP trading volume increases rapidly amid large-scale sales

XRP witnessed a massive shortcoming yesterday, falling nearly 9% from $3.02 to $2.75 before the Bulls managed to get back to $2.83. The decline comes amidst a surge institutional sales, resulting in trading volumes rising more than twice the norm.

24 hours7d30D1Yeverytime

The market raged on XRP with a 24-hour volatile window that closes on August 3rd. On August 2nd, traders exchanged a massive 222.24 million XRP tokens.

Incredibly, this all happened on August 2, 2025 in a four-hour window.

XRP finally found a footing for $2.75, but whenever it exceeded $2.84, it met consistent resistance.

$ xrp It’s bounced back! pic.twitter.com/tuzeu47co3

– cryptogoos (@crypto_goos) August 3, 2025

Now, all eyes are stuck with whether XRP can hold the ground at the $2.75 level. Conversely, it must break above the $2.84 level to indicate that the bearish trend is over.

The 24-hour range shows XRP has dropped by more than 8.91% on a price swing of $0.27. There may be a quiet buildup that forms under the $2.80 mark, but without putting any pressure on it, it’s all smoke.

Explore:12+ Hottest Encryption Presale to Buy Now

Sharplink has added $54 million to its ETH and currently holds $165 million worth of ETH

by Arijit Mukherjee

Game company Sharplink has once again splashed out on ETH, adding another 15,882 ETH (a Kitty worth about $53.9 million).

According to data from Arkhan Intelligence, the acquisition took place in several transactions, with the largest transaction including 6,914 ETH, worth $2356 million.

This has resulted in Sharplink’s total ETH holdings skyrocketing to 480,031 ETH, worth around $1.65 billion based on current market prices.

Sharplink has built a larger ETH position than most L1’s finances

480,000+ ETH

Exposure is $1.65 billion

If ETH is the new basic layer of global finance

They’re quick and serious pic.twitter.com/joou7ibm3w

– Christian Schumacher (@chris_schumach_) August 3, 2025

Additionally, over the past 48 hours, the company has spent $108.57 million to acquire 30,755 ETH with an average price of $3,530.

Explore: Best Meme Coin ICO to Invest in August 2025

XRP price forecast this week

by Arijit Mukherjee

Analysts suggest that XRP’s four-hour price charts show signs of bullish divergence, which could lead to a 20% short-term price surge by the end of August.

According to their calculations, XRP price actions create a series of low lows, as opposed to the higher lows made by the relative strength index (RSI). This difference between prices and RSI often reflects a weaker momentum.

3 Hour XRP Update: Price has been changed by +0.01%.
Support Level: $2.85237
Resistance Level: $2.89468
Current price: $2.87066
Time: 2025-08-03 12:00:07#ripple #xrp #xrppricealerts pic.twitter.com/g8orx5gdwt

– – #xrppricealerts (@xrppricealerts) August 3, 2025

A classic falling wedge on the 4-hour chart shows XRP looking for a breakout. The XRP/USD pair bounces off the lower edge of the wedge around the 200-4H EMA (The Blue Wave), indicating that the buyer is intervening.

Violating XRP’s top price trendlines will launch a rally of up to 20%, potentially targeting the range of $3.60-$3.65, and close to $3.07 for the exchange level of 0.236 Fibonacci.

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Crypto Weekly Recap: Who won, who lost?

by Arijit Mukherjee

As another week approaches the end, the civic landscape resembles a mix of victory and loss.

According to CoinmarketCap data, BTC remains dominant at $114,181 despite conservative fluctuations. ETH follows the lawsuit and trades for $3,509, while XRP rounds up the Big Three and trades for $2.88 after a big sell-off.

The overall crypto market capitalization is currently at $3.69 trillion.

I zoomed in on my list of top 100 digital assets and some altcoins worked well. The top three Altcoin winners this week are four (form) who lead the pack with a 12.96% rise, followed by Toncoin (Ton), Story (IP) at 10.00%.

Conversely, some altcoins didn’t do that well. Fartcoin (Fartcoin) scored its biggest hit at 30.55%, while Bonk (Bonk) and Virtuals Protocols (Virtual) fell by 23.03% at 28.08%.

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Crypto analyst Smart Trading has revealed a bearish pattern for Shiba Inu, indicating that the bears are in firm control. Based on this, he predicted that SHIB could witness a 20% crash, which would represent a huge setback for the bulls. 

Shiba Inu Breaks Down Below Triangle Pattern

In a TradingView post, Smart Trading stated that the Shiba Inu price recently broke down from a triangle pattern after consolidating near a key resistance. With this development, the analyst remarked that a potential retest of the breakdown zone around $0.00001396 is possible before continuing toward the support level near 0.00001041. 

Based on this analysis, the major levels to watch include the resistance at $0.00001396 and the support zone at $0.00001041. In a TradingView post, crypto analyst Paper Trader also echoed a similar sentiment. He noted that Shiba Inu is consolidating in a demand zone and near a key level. 

The analyst remarked that the bulls need the Shiba Inu price to break out of the demand zone above $0.00001300 for the top meme coin to reach $0.00001427. Based on his accompanying chart, this could pave the way for a further rally to $0.00001700. Paper Trader added that if the demand zone fails to hold, then SHIB bears can push the price to the 0.00001100 levels. 

Shiba Inu has struggled this year and is down over 38% since the start of the year. This underperformance has caused the meme coin to drop drastically in the crypto rankings, currently ranked as the 19th crypto by market cap. SHIB had, towards the end of last year, reentered the top 10 ranking by market cap after recording an impressive 81% gain in under two weeks. 

The Bottom May Be In For SHIB

On the other hand, crypto analyst GKTrademanthan has provided a bullish outlook for the Shiba Inu price, stating that the bottom is in for the meme coin. This came as he drew a similarity between the 2024 and current price action. He claimed that SHIB is following a repeated pattern cycle, which he broke into four stages. 

The first stage is the falling wedge, which the analyst revealed has been completed. GKTrademanthan revealed that Shiba Inu has also completed the Cup and Handle pattern and W Pattern, which are stages 2 and 3, respectively. 

Stage 4 is the inverted Head and Shoulders, which the analyst revealed is pending formation and could trigger a major upward move for Shiba Inu. The target on the breakout is $0.00002431, which represents about a 90% move from SHIB’s current levels. 

At the time of writing, the Shiba Inu price is trading at around $0.00001322, up over 3% in the last 24 hours, according to data from CoinMarketCap.

Featured image from Getty Images, chart from Tradingview.com

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.

The move began around 21:00 UTC on Sunday, when bitcoin spiked more than $2,500 in less than an hour — a pattern that can be attributed to thin weekend liquidity and potential algorithmic buying triggered by technical levels.

Such price action was a textbook short squeeze followed by aggressive profit-taking or stop-run. A short squeeze happens when traders betting against a price (short sellers) are forced to buy the asset as it rises, to cover their losses, which pushes the price even higher and often very quickly.

The sudden move wiped out over $460 million in long positions and $220 million in shorts, across futures tracking majors like ether (ETH), solana (SOL), and dogecoin (DOGE).

The liquidation wave was notable for occurring during traditionally quiet weekend hours, an unusual event that marks forced selling or buying activity by a major player.

SOL, DOGE and XRP prices are down more than 4% in the past 24 hours, data shows, with the broad-based CoinDesk (CD20) down more than 2%.

The volatility follows a week of macro uncertainty, with Moody’s cutting the U.S. credit rating on Friday and inflation fears resurfacing after mixed economic data. The downgrade also led to U.S. 30-year treasury yields breaching the 5% mark.

While crypto has broadly benefited from renewed institutional inflows and spot ETF momentum, traders remain cautious at current price levels, as reported.

Bitcoin is flat over the past week, but the recent failure to hold above $106,000 — a key psychological and technical level — may signal near-term resistance, FxPro’s Alex Kuptsikevich told CoinDesk last week.

Meanwhile, some traders anticipate higher volatility in the days to come in a warning sign for those looking to leverage their bets.

“Investors are shifting capital to Bitcoin as concerns grow over a pending US spending bill that could add trillions in debt and push for higher Treasury premiums,” Haiyang Ru, co-CEO of the HashKey Business Group, told CoinDesk in a Telegram message.

“But while bitcoin hovers just below new highs, we anticipate more market volatility as traders prepare for new trade deals and a final version of the fiscal policy,” Ru added.

Read more: U.S. 30-Year Treasury Yield Breaches 5% Amid Moody’s Rating Downgrade, Fiscal Concerns

Why it matters: Imagine you’re deep in the backcountry when a bear suddenly appears, sizing you up. Typically, you’d reach for your tried-and-true can of bear spray – trusted by wildlife experts and often even more reliable than firearms. However, one adventurous DIY YouTuber has built something far more theatrical: the Bear Blaster 5000.

Drawing from over 20 years of experience in high-voltage engineering, Jay Bowles from the Plasma Channel created a device that emits fierce, crackling sparks and flashes. He aimed to make a device scary enough to send most animals packing. The idea is rooted in animal behavior. Many creatures instinctively avoid sounds that resemble natural danger, like thunder and lightning. High-voltage arcs produce similar auditory cues, and Jay decided to exploit that.

The Bear Blaster runs on two voltage multiplier circuits. Jay initially tried a full-wave design, but the arcs could only travel a few inches. So he switched to a pair of half-wave multipliers – one on each side – wired in reverse polarity. That setup produced substantial positive and negative charges, pushing voltage in opposite directions and enabling longer, more powerful plasma bursts. The final result: a sci-fi-looking contraption spitting five-inch arcs and delivering a staggering 286,000 volts. Even humans might think twice before sticking around.

Each electrode is fitted with a nut to focus the electric field and increase arc reliability. A coat of resin also protects the internal capacitors and diodes to ensure safety. Powering all this is a compact battery system that delivers about five minutes of continuous high-voltage sparks, which charges in just 15 minutes. Encasing all that tech is a sleek 3D-printed shell that fans of the Halo franchise would say resembles the iconic Plasma Pistol.

While it doesn’t shoot balls of plasma, it does unleash visible electric arcs between two rounded electrodes. Jay notes that just a few seconds of flashing and crackling is usually enough to spook a timid bear or other wildlife.

“I don’t know about you, but this? That’s a thing of pure beauty right there,” Jay exclaims in his video. “Look, there’s no way in hell any animal would charge at you with this thing going off. It worked so much better than I actually planned for.”

Jay acknowledges that no tool is flawless. While the Bear Blaster offers a creative, non-lethal alternative for those seeking options, it likely won’t replace traditional bear spray. Aggressive bears may not be deterred by light and noise alone, and experienced hikers still advise carrying bear spray for added security. However, it is way more dramatic than banging on a pan.

Bitcoin price started another decline below the $85,000 zone. BTC is now consolidating and might struggle to recover above the $83,500 zone.

• Bitcoin started a fresh decline below the $83,500 support zone.
• The price is trading below $83,200 and the 100 hourly Simple moving average.
• There is a connecting bearish trend line forming with resistance at $82,750 on the hourly chart of the BTC/USD pair (data feed from Kraken).
• The pair could start another decline if it stays below the $83,500 resistance zone.

Bitcoin Price Dips Further

Bitcoin price failed to remain above the $85,500 level. BTC started another decline and traded below the support area at $85,000. The bears gained strength for a move below the $83,500 support zone.

The price even declined below the $82,000 level. A low was formed at $81,586 and the price is now consolidating losses below the 23.6% Fib retracement level of the downward move from the $83,500 swing high to the $81,586 swing low.

Bitcoin price is now trading below $82,500 and the 100 hourly Simple moving average. On the upside, immediate resistance is near the $82,000 level. The first key resistance is near the $82,750 level. There is also a connecting bearish trend line forming with resistance at $82,750 on the hourly chart of the BTC/USD pair.

The trend line is near the 61.8% Fib retracement level of the downward move from the $83,500 swing high to the $81,586 swing low. The next key resistance could be $83,500. A close above the $83,500 resistance might send the price further higher. In the stated case, the price could rise and test the $84,200 resistance level. Any more gains might send the price toward the $84,800 level or even $85,000.

Another Decline In BTC?

If Bitcoin fails to rise above the $83,500 resistance zone, it could start a fresh decline. Immediate support on the downside is near the $81,800 level. The first major support is near the $81,500 level.

The next support is now near the $80,650 zone. Any more losses might send the price toward the $80,000 support in the near term. The main support sits at $78,500.

Technical indicators:

Hourly MACD – The MACD is now gaining pace in the bearish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level.

Major Support Levels – $81,500, followed by $80,650.

Major Resistance Levels – $82,750 and $83,500.