May 9th, 2025 – Vilnius, Lithuania

The International Crypto Trading Cup (ICTC-2025) has officially launched — the world’s first global crypto trading tournament held live and on stage.

Over the next two days, May 9 to May 10, viewers around the world will witness a groundbreaking event: two 6-hour live trading sessions on crypto futures, streamed in real time with full transparency. Expect expert commentary, live strategy breakdowns, market insights, and professional discussions that bring crypto trading to life like never before.

Key Features:

• Global Participation: Top traders from around the world competing live on one stage.
• A new standard for the industry: This is more than a tournament — it’s a step forward in making crypto trading both competitive and educational.
• Educational Focus: Part trading competition, part masterclass — viewers can learn, engage, and compare their own strategies with the pros.
• Interactive Engagement: Viewers can observe trading activity live, vote in outcome-based categories, and compare strategies. Voting is linked to task completion and account registration.

Participation Options at ICTC-2025

Competing in the Tournament

Interested participants may enter ICTC-2025 either individually or as part of a team. Registration can be completed via the official competition landing page by selecting either “Compete Solo” or “Choose Squad.” Existing users of the exchange must confirm the creation of a subaccount and link it to their TradingView account to participate.

Trading will take place on May 9 and May 10, from 13:00 to 19:00 UTC, utilizing WhiteBIT futures pairs through the TradingView platform.

Engagement for Observers

Audience members who are not participating in trading can still engage through a voting mechanism across five prediction-based categories. A total of 6,500 USDT will be distributed among participants whose predictions closely align with actual outcomes.

To access the voting feature, users must complete several platform tasks such as registering an account or completing identity verification procedures (KYC), which contribute to point accumulation required for participation.

ICTC-2025 is designed to accommodate both active traders and observers seeking to engage with the event in a structured and transparent format.

Backed by Industry Leaders

ICTC 2025 is powered by a lineup of Tier 1 partners committed to innovation. TradingView joins as the official technological partner, while Tether is a title sponsor, contributing to the prize pool. 

Further strengthening the championship, XTraveler, Anda Seat, and Renty.ae come on board as official event partners and prize contributors. XTraveler serves as the official travel partner. Anda Seat will equip the stage with high-performance chairs for participating traders. Renty.ae enhances the prize pool with an exclusive 52-foot yacht experience.

About WhiteBIT

WhiteBIT is the largest European cryptocurrency exchange by traffic, offering over 780 trading pairs, 330+ assets, and supporting 9 fiat currencies. Founded in 2018, the platform is a part of WhiteBIT Group which serves more than 35 million customers globally. WhiteBIT collaborates with Visa, FACEIT, FC Barcelona, Trabzonspor and the Ukrainian national football team. The company is dedicated to driving the widespread adoption of blockchain technology worldwide.

This material does not pertain solely to the company’s European transactions but applies to the activities of all WhiteBIT Group companies globally.

Contact

WhiteBIT PR Service
pr@whitebit.com

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Bitcoin is currently trading in a tight range between short-term supply and demand, following weeks of heavy selling pressure that sent shockwaves through the broader crypto market. After losing over 29% since its January all-time high, BTC is now searching for direction. Bulls must step up and reclaim the $90,000 level to restore confidence and confirm the start of a recovery rally. Until then, uncertainty remains the dominant theme.

Adding to this cautious sentiment is the broader macroeconomic backdrop, with trade war fears and global financial instability weighing heavily on investor confidence. Volatility in equities and geopolitical tensions have spilled into the crypto space, making it harder for Bitcoin to establish a clear trend.

Top crypto analyst Ali Martinez shared a technical analysis on X, revealing that Bitcoin may have completed a classic cup-and-handle formation, topping at around $109,000. However, this doesn’t necessarily signal further downside. Instead, it highlights that Bitcoin is currently without a defined direction.

For now, Bitcoin is holding its ground, but whether the next move is a breakout or a breakdown will depend on how the market responds in the days ahead.

Bitcoin Faces A Pivotal Test After 13% Rebound

Bitcoin has quietly rallied over 13% since its March 11 low near $76,600, with bulls now setting their sights on reclaiming the $88,000 level. This recent surge has brought cautious optimism to the market, but the path ahead remains uncertain. Bitcoin is currently facing a critical technical and psychological test, as it struggles to recover from a sharp downtrend that began after its January all-time high.

Investor sentiment has been mixed. Many entered 2025 with expectations of a strong bull run, but recent price action and growing macroeconomic concerns have prompted some analysts to call for the start of a bear market. According to Martinez, Bitcoin may have already completed a classic cup-and-handle pattern, topping out around $110,000—just $5,000 shy of the expected $115,000 target. If this technical blueprint holds true, the current correction may simply be part of a broader consolidation phase.

This view aligns with the idea that Bitcoin needs to stabilize before its next major move. Bulls must defend current levels and build momentum to push past the $90,000 barrier. Until then, BTC appears to be in a holding pattern, caught between the hope for a resumed uptrend and the fear of deeper downside risk.

BTC Price Hovers At $84K As Bulls Face Critical Resistance

Bitcoin is currently trading at $84,100 after several days of tight consolidation and slow price action around this level. Market participants are closely watching this range, as it represents a key short-term battleground between bulls and bears. For any meaningful recovery to take place, bulls must reclaim the $87,300 level, which aligns with both the 4-hour 200-day moving average (MA) and the 4-hour 200-day exponential moving average (EMA).

A decisive move above these indicators would likely spark a renewed push toward the $90,000 level, a psychological and technical barrier that could confirm the beginning of a short-term bullish trend. However, failure to reclaim $87,300 and maintain strength above $84,000 could tip the balance in favor of the bears.

If BTC loses the $84,000 support, the next likely target sits below $81,000, where lower demand zones could come into play. This would reinforce the ongoing uncertainty in the market and raise the risk of a deeper correction. As traders await direction, all eyes are on BTC’s ability to reclaim momentum and flip resistance into support. The next few sessions could be pivotal for Bitcoin’s short-term price structure.

Featured image from Dall-E, chart from TradingView 

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.

Bitcoin’s price action has been trapped in a tight range between $84,000 and $82,000 in recent days, with bulls struggling to push upwards. The general market sentiment is one of a cautious nature, and hopes of a quick return above $90,000 are starting to fade. However, a new technical analysis suggests that Bitcoin could be on the verge of a significant rally, as price action shows the cryptocurrency is currently conforming to the cup-and-handle pattern.

Cup And Handle Support Could Cause A Major Bitcoin Rally

Recent Bitcoin price movements have drawn attention back to a key technical structure of the handle support of a cup-and-handle pattern, suggesting that a bullish setup may be quietly taking shape. This interesting Bitcoin price activity was relayed in a technical analysis by a crypto analyst on the TradingView platform. 

Related Reading

The cup-and-handle pattern in question has been forming over multiple years, with the rounded bottom phase stretching from 2021 to mid-2024. This prolonged accumulation period saw Bitcoin gradually recover from the bearish market cycle before breaking above its neckline resistance. The breakout started the handle formation in the latter half of 2024, a consolidation phase that set the stage for BTC’s next leg up. By November 2024, Bitcoin completed this handle phase and went on an impressive rally that ultimately resulted in a new all-time high of $108,786 in January 2025.

However, the recent 24% correction from this all-time high has seen the Bitcoin price returning to the neckine resistance of the cup-and-handle formation. The logical next step is for this neckline resistance to serve as support for the price correction and we could see Bitcoin rebound from here. In terms of a price prediction, Elliott wave analysis and projections put the price target above $130,000, particularly at $139,000.

Elliott Wave Analysis Suggests A Surge Toward $130,000

According to the Elliot Waves technical framework, Bitcoin is currently in a larger fifth impulse wave formation. However, this fifth wave, which is generally bullish, has been punctuated by corrective ABC sub-waves, leading Bitcoin to retest the support of the cup-and-handle formation. Now that the support has been met, Bitcoin is in a position to bounce and continue the formation of its fifth impulse wave. This is expected to bring it to the price target above $130,000.

Related Reading

The alignment of the cup-and-handle formation with Elliott wave projections strengthens the case for a major breakout in the coming months. However, Bitcoin’s fundamentals reflect uncertainty in the short term. There is currently a lack of bullish momentum needed to rechallenge the $90,000 mark, which would be the first step needed to reach $130,000. Steady institutional outflows from Spot Bitcoin ETFs have further increased selling pressure, limiting Bitcoin’s ability to regain strength in the short term.

At the time of writing, Bitcoin is trading at $83,500.

Featured image from Unsplash, chart from Tradingview.com

Bitcoin’s Bullish Chart Pattern Hints At Major Price Surge

In an X post on March 14, Egrag Crypto states the BTC market may be preparing for a major price breakout. According to the technical analysis shared by the trading expert, Bitcoin has formed a Cup and Handle pattern hinting a major bullish move is on the horizon.

For context, the Cup and Handle pattern represents a textbook bullish formation that occurs when an asset experiences a rounded bottom i.e. the cup followed by a slight pullback i.e. the handle before a breakout to new highs. This is well illustrated in the weekly chart below following BTC’s price action in the past two years.

According to Egrag Crypto, the premier cryptocurrency is on the verge of a breakout with multiple potential price targets in sight. The non-logarithmic target presents a conservative possible price peak of $113,000. Meanwhile, the logarithmic scale which accounts for historical exponential gains points to a price target of $260,000.

Taking an average of both methods, Egrag Crypto has picked a personal target of $186,000. The analyst also favors a potential price peak at $175,000 as indicated by the Fibonacci extension level of 1.618 which has historically acted as a reliable cycle top indicator. However, while this analysis presents a robust bullish prediction, Bitcoin must first experience a pullback to around $65,000 to initiate this price surge.

Bitcoin Network Fees Drop By 24%

In other news, IntoThe Block reports that Bitcoin network fees have decreased by 24.4% reaching $2.5 million which was last reported in September 2024. The analytics firm notes that this decline has occurred despite significant market changes which saw Bitcoin slip to $77,000 before rising to reclaim the $85,000 price level.

Amidst Bitcoin’s larger struggles, IntoTheBlock also reports that exchange inflows grew by $840 million suggesting a weakening market confidence as investors move to sell their assets.

At press time, the crypto market leader is valued at $84,545 reflecting a 3.12% gain in the past day. However, reported losses of 1.76% and 13.11% in the past seven and 30 days indicate a dominant bearish influence in recent weeks.

Dogecoin (Doge) forms cups and handle formations on weekly charts. Crypto analyst David (@david_dogecoin) suggests that if confirmed, Dogecoin can target an ambitious $4 price target.

Dog coin cup and handle pattern

The first stage in this pattern, the cup, began to shape when Dogecoin first declined from May 2021 at $0.74. This downward movement extended the integration period and gradually formed a round bottom in the range of $0.05-$0.06. The curvature of price action suggests a slow and steady change in market emotions. There, sales pressure was gradually absorbed by buyers accumulating Doge at lower levels.

Over time, Dogecoin began to recover from this bottom, returning to its December 2024 high to $0.48. This high signal that bullish momentum is being built has gradually risen steadily, and interest from market participants is growing.

Related readings

After reaching a $0.48 resistance level, Dogecoin faced rejection, leading to a medium pullback. This reduction created the handle. This is a small downward retracement that usually precedes the final breakout. The handle of this setup is formed around the $0.14-0.17 price range where the market is currently integrated.

The handle serves as the final phase of weaker hands, and will attract momentum before stronger purchase interests become more critical. Once the Dogecoin is successfully split from the cup and handles the handle pattern, the measured movement technique can be used to estimate the predicted price target. This involves calculating the depth of the cup and adding that value to the breakout point. Based on this method, the expected target is around $4, according to a chart shared by analyst Kevin.

Criticism: Why isn’t this a classic cup?

Textbook cups and handles require certain structural properties, such as rounded bottoms and shallow handles, which form near previous altitudes or key resistance zones before breakout. However, there is an important deviation in this analysis that raises doubts its validity.

Related readings

A decrease from $0.74 (May 2021) to $0.05-0.06 is something that is too deep to be considered a proper cup formation. Classic cup patterns usually form over weeks to months and are not an extended downtrend for years.
A recovery between $0.05-$0.06-$0.06-$0.48 is not symmetrical to the initial drop, but rather the “round bottom” side of the cup. Instead, price action is similar to multi-year accumulation stages rather than continuous rounding structures.

Additionally, the handle is formed deeply within the structure. A valid handle should occur near the rim (i.e. close to $0.48), but in this case Dogecoin retreated all the way from $0.14 to $0.17. A healthy handle should not fall below 50% of the cup depth, but here we approach a lower third of the structure and disable the classical pattern.

At the time of pressing, Doge traded for $0.17.

Featured images created with dall.e, charts on tradingview.com