During a recent appearance on Fox Business, Cryptocurrency billionaires Tyler and Cameron Winklevoss predicted that the price of Bitcoin could potentially skyrocket to $1 million “one day.”

The Winklevii are on the same page with such names as former Binance CEO Changpeng Zhao and Blockstream CEO Adam Back when it comes to their uber-bullish seven-figure prediction 

The billionaire twins argue that Bitcoin is “gold 2.0,” predicting that it is going to disrupt the market cap of the precious metal. 

Early crypto adopters 

Following the Facebook drama, which resulted in a multi-million-dollar settlement with founder Mark Zuckerberg, the Winklevoss twins discovered Bitcoin all the way back in 2012. Then, they used the settlement money to make a sizable investment in Bitcoin. 

After the cryptocurrency experienced a notable price surge, they were among the first public figures to become Bitcoin billionaires.

The twins claim that they purchased BTC when it was trading at roughly $10, but they argue that it is still early. 

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Notably, they also made an appearance on the show back in October 2015 when Gemini was just launched, so the exchange is now also on the verge of celebrating its 10th anniversary.

Their Bitcoin success story is colloquially known as “the revenge of the Winklevii.” 

The Gemini exchange now boasts a total of $21 billion worth of assets on its platform. 

Gemini’s grand IPO debut 

The exchange secured a total of $425 million with its initial public offering (IPO), which analysts have described as another win for the cryptocurrency market. 

The shares of the cryptocurrency trading platform surged sharply higher on Thursday, showing that there is still plenty of investor demand for crypto companies. 

This comes after stablecoin issuer Circle also had an extremely successful IPO. 

Other cryptocurrency trading platforms, such as Grayscale, are also going public after the U.S. government swiftly moved to embrace the industry. 

Bitcoin’s price has spent the past week hovering within a tight band and bouncing between $108,000 and $112,000 without any clear direction yet. There have been multiple rejections at the $112,000 price level and technical analysis shows pressure around the 200-day moving averages on the four-hour chart. 

Notably, a technical analysis shared by crypto analyst Daan Crypto shows Bitcoin is at risk of a breakdown below $100,000, but bulls still have a chance to stage a recovery rally in the weeks ahead.

Analyst Warns About Sweep Of Monthly Lows

In his latest post on the social media platform X, Daan Crypto Trades noted that Bitcoin is currently indecisive, and its price action is leaning toward a sweep of the monthly lows. This movement is based on the 4-hour candlestick timeframe chart, which shows the Bitcoin price was recently rejected at the 200MA/EMA last week. 

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The 4-hour candlestick chart below shows Bitcoin has been trading in a defined range since August 25, with equal lows forming a weak base around $107,000 and liquidity sitting just beneath. This makes a stop-hunt sweep a possible next step.

Such a move, the analyst explained, would likely open up a bearish case of panic across the market, which might eventually cause fears of Bitcoin collapsing under the $100,000 price level. 

However, the analyst also identified the $103,000 to $105,000 price zone as the support level where buyers can step in. This area, according to him, would also be a logical entry point for swing long positions if the Bitcoin price indeed breaks down below $107,000.

Conditions For A Bullish Recovery

According to the analysis, Bitcoin bulls have a chance to prevent any breakdown below $100,000 by holding above $105,000 to $103,000. Despite laying out a bearish base case, Daan also described a roadmap for the bulls. 

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The first condition would be strength above $115,000, which would mark a break of August’s range low, which has turned into resistance in the first week of August. A break and close above $115,000 would invalidate any short-term bearish momentum. 

Alternatively, he pointed to a quick liquidity grab below the monthly lows at $107,000, followed by a reclaim of the $107,000 and $112,000 levels, as the most bullish scenario. According to the analyst, this second setup could pave the way for a sustained one-to-two-month uptrend rally through October and November. 

For now, the analyst said he is on the sidelines except for short-term scalps. At the time of writing, Bitcoin is trading at $111,733, up 0.7% in the past 24 hours.

Featured image from Pixabay, chart from Tradingview.com

What are the latest Bitcoin updates that might affect the cryptocurrency’s future? 

• Miami, one of the most crypto-friendly cities of the United States, is about to offer BTC salary payments as an alternative to the standard USD payments, says the mayor of Miami, Francis Suarez. He also mentioned that the city will be implementing a series of innovations to further support the cryptocurrency: for instance, the possibility of paying city taxes with BTC.
• El Salvador’s president Nayib Bukele proposed to make cryptocurrency legal tender, which means that BTC will now be accepted as legal payment for goods, services, taxes etc. Moreover, El Salvador is to grant citizenship to anyone who invests at least 3 BTC in the country’s economy. In 90 days the law will take effect, making the country the first to adopt cryptocurrency as a legal payment option. 
• Meanwhile, PayPal announced that it will now support cryptocurrency withdrawals to third-party wallets, allowing users to transfer their crypto away from the platform for the first time. 
• Last, but certainly not least, Warren Buffett, who has traditionally been against investing in cryptocurrencies and warned investors against it, saying that it will lead to large losses, has finally come around. Berkshire Hathaway, the holding company led by Buffett, invested $500 million in a digital bank, which supports Bitcoin.

With all the positive updates, even Elon Musk’s public renunciation of Bitcoin doesn’t seem so serious, despite Musk’s prior influence on the cryptocurrency.

What do you think about the future of Bitcoin? Let us know what you think in the comments below!

Сообщение Cryptocurrency News: Where Are We Headed? появились сначала на IQ Option Broker Official Blog.

The $NAKA token powers Nakamoto Games—a fast-growing GameFi ecosystem combining play-to-earn, NFTs, staking, and metaverse mechanics. With a wide range of live games, real token utility, and major upcoming catalysts, $NAKA is gaining strong traction in Web3 and NFT gaming.

Key Takeaways

• Nakamoto Games offers 200+ playable titles and a growing player base in the GameFi sector.

• The $NAKA token fuels everything from game access to staking, NFTs, and rewards.

• Key catalysts include NAKAVERSE land sales, new partnerships, and app adoption.

• Sentiment remains bullish as Nakamoto Games pushes updates and grows its user base.

• $NAKA price prediction leans positive with solid utility and a roadmap backed by actual delivery.

What Is the $NAKA Ecosystem?

Nakamoto Games is a full play‑to‑earn ecosystem powered by the $NAKA token. It’s built on Polygon to deliver fast transactions and low fees, giving users access to dozens of games, NFT marketplaces, staking, and a metaverse layer called NAKAVERSE. The $NAKA token fuels nearly every interaction—from game entry and rewards to staking, land purchases, and NFT trading.

Total supply caps at 180 million tokens, with approximately 64.98 million circulating (~36%) at the time of writing; the remainder was gradually unlocked through cliff vesting, which fully completed by early 2024 .

Token distribution spread includes Play‑to‑Earn vault (22.22%), team (11.11%), seed rounds, advisors, operations, partnerships, and others, ensuring diverse stakeholder involvement. This supply design emphasizes long‑term alignment and scarcity. A portion of revenue from in‑game fees is used in a token buyback and burn model, adding deflationary pressure over time and supporting the token’s deflationary design.

The ecosystem integrates:

– Over 200 games, across racing, shooters, arcade, and strategy. Some require $NAKA for entry and offer payouts in $NAKA rewards; others are free-to-play with lighter reward mechanics. The platform includes tournaments, story mode, and creator tools for developers to deploy playable GameFi dApps .
– NAKAVERSE, a metaverse where users purchase land NFTs, build in‑world assets (shops, mining farms, theatres), and earn yield. The plots were sold in a public land sale, with 25% of the NAKA used in each sale burned to reduce supply and enhance utility.
– NAKA Punks NFTs, granting land discounts, passive revenue share, and membership in Satoshi Gaming Club with perks and airdrops—plus a buyback guarantee after one year.
– Staking and incentive programs offering up to ~20% APY for locking $NAKA, often via StakingRewards platforms that provide yield boosters and collateral features.
– Referral, quests, season passes, asset promos, lucky wheels, and creator revenue-sharing models embedded in the user interface for both players and game developers.

This alignment of utility, incentives, NFT utility, token burns, and staking positions $NAKA not just as a speculative asset but as a functional coin driving real participation across play‑to‑earn and GameFi verticals.

Deep Dive Into Nakamoto Games

Nakamoto Games started with a modest shooter title and rapidly grew into a full GameFi platform hosting hundreds of titles. Its aim is to democratize income from gaming. Early titles like NAKA Strike expanded to multiplayer modes; later SDK releases like Outlanders allow creators to deploy experiences natively within the ecosystem.

Gameplay options fall into categories:

– Daily Reward Games: Users pay $NAKA to enter competitive matches. Winners earn back prizes in $NAKA, encouraging token circulation and active gameplay.
– Free‑to‑play or “free‑to‑earn” titles: These require no upfront token stake, allowing casual users to earn modest rewards and get accustomed to the platform. While lower reward yield, these widen onboarding.
– Creator tools and SDKs: Nakamoto Games offers APIs and launch tools so developers can integrate token mechanics, NFTs, and staking into custom games. This enables external creators to benefit from the same token economy. Skills like token gating, smart contract payments, and revenue split are built-in.
– Mobile app + Web interface: Users access games through browser or via the Nakamoto Games app, which streamlines wallet integration and staking dashboards. The app rollout continues expanding globally to Android and iOS.

NAKAVERSE adds a larger metaverse experience. Phase 1 sold land and building NFTs via the native marketplace. Phase 2 introduces social interactions—avatars, dynamic events, and multi-chain avatars on Dogechain and Reefchain, expanding beyond Polygon. Developers can mint and index assets, build services or storefronts, and monetize assets. Economic tools include calculators, search/indexers, and a “login with wallet” system.

In terms of network, games vary from arcade classics to PvP shooters and strategy, all tied by the central $NAKA token economy. Developers benefit from built-in liquidity pools, staking vaults, and revenue-sharing.

Real-world use cases include players running virtual businesses on NAKAVERSE land: mining farms or NFT museums generating yield; creators earning via tournaments or season passes; and investors staking $NAKA while capturing token burns from game fees and land sale allocations.

Token Metrics and $NAKA Tokenomics

The tokenomics of $NAKA are central to its utility, scarcity, and long-term viability. At max supply of 180 million tokens, the fraction made available until 2024 comprised circulating ~64.98 million tokens (~36%) via vesting schedules with cliff releases for team, advisors, seed/private rounds, and play‑to‑earn vault allocations.

Source: Token Unlocks

Token distribution is balanced across stakeholders: 22.22% for play‑to‑earn vault (for game rewards), ~11% each for team, private rounds, operational reserves, and smaller shares to advisors and developer sponsoring—this aims to align interests without central control.

Staking currently offers up to ~20% APY depending on locking period and platform. Some external platforms like StakingRewards provide yield boosters or collateral options to borrow against staked assets—this improves flexibility and yield potential for holders. This token generates consistent demand as players stake for passive income, developers integrate it for access, and gamers buy in for entry fees or NFTs.

Crucially, Nakamoto Games implements a deflationary burn mechanism: a portion of revenue from game entry fees and NAKAVERSE land sales is used to buy back and burn $NAKA tokens, shrinking supply over time and potentially supporting token price . For example, during the public land sale in April 2022, 25% of NAKA paid was burned and the rest reserved for platform reserves .

These design features—a capped supply, vesting with time‑based release, stakeholder alignment, staking rewards, and deflationary token burns—create a well-structured economy. They position $NAKA as both a utility token and a token with potential upside through controlled supply management, broad gameplay use, and integration into a developing metaverse economy.

Upcoming Catalysts and Events

Several upcoming catalysts and events could materially influence ecosystem adoption and $NAKA price trajectory:

– NAKAVERSE metaverse land sale: A new public land sale is slated to launch, offering NFT-based land parcels purchasable in $NAKA. Early purchasers can lock tokens for reservations. Land plots enable revenue-generating assets like shops, esports arenas, NFT galleries, or mining centers. Land resale and secondary yield are designed to drive demand for future acquisitions. Holding $NAKA is required for guaranteed allocation.

– $USP stablecoin launch: Nakamoto Games plans an algorithmic stablecoin ($USP), backed by $NAKA collateral. This token aims to add liquidity and DeFi utility inside the ecosystem, bringing more financial services and reducing volatility issues.

– New game releases & SDK expansion: Frequent game deployments continue. Upcoming titles include Duck Hunter, now in beta testing, and further creator tools like Outlanders’ SDK integrations—enabling external developers to build within the ecosystem, expanding game variety and token use.

– Phase III of NAKAVERSE: Advanced metaverse features like in‑world property rendering, asset indexing tools, wallet‑based login, price calculators, and cross-chain interoperability with Dogechain and Reefchain avatars are slated. These enhancements will enable complex economies and user-driven content in the metaverse Bitcoinist.com+1Medium+1.

– Mobile app rollout: Wider deployment of the Nakamoto Games app on Android and iOS globally will ease access, wallet integration, staking, and gameplay—all essential for user growth and retention nakamoto.games.

– NAKA Punks utility upgrades: NFT holders may unlock more in-game benefits, passive revenue share, and exclusive access privileges as utility enhancements roll out and governance features expand. NAKA Punks holders also retain a one‑year buyback guarantee if they forego benefits, supporting long-term trust Kanga Exchange.

– Partnership announcements: Collaborations with DeFi protocols, NFT art projects, and gaming networks may be revealed soon.

These partnerships can expand token integration, cross‑platform exposure, and liquidity avenues.

Taken together, these upcoming events—land sales, stablecoin launch, SDK and game updates, metaverse phase upgrades, mobile app growth, and utility upgrades—offer multiple demand drivers for $NAKA and can respond to community and investor sentiment turning more bullish.

Market Sentiment and $NAKA Price Prediction

Current sentiment around $NAKA remains optimistic, though cautious. Bitget’s price forecast pegs $NAKA at about $0.3909 on July 24, 2025, rising modestly to $0.3932 in August, and $0.3998 by December 2025. Long‑term estimates project around $0.4205 by 2026 and $0.5112 by 2030, assuming steady ~5% annual growth.

Community activity has grown, with influencer campaigns, referral contests, and NFT pre‑orders gaining traction. A $2,000 engage‑to‑earn campaign targeted creators, and NAKAVERSE sales created new attention periods. Sentiment leans bullish ahead of the next wave of land sales and stablecoin launch.

Risks include macro crypto volatility, execution delays, or token over-supply if demand lags. The tokenomic design mitigates this with burns, vesting and multi-use demand. Analysts often highlight key metrics to watch: upcoming unlock events, social engagement, staking participation, land sales pacing, and new partnership announcements.

On-chain activity remains healthy. Staking participation and game entry fees reflect economic usage. Burn stats from revenue and land sales add deflationary momentum. If upcoming events deliver as expected—especially Phase III launch of NAKAVERSE and $USP stablecoin—the combination of utility and tokenomics may reinforce upside momentum. Even conservative projections see modest yearly gains; more optimistic outcomes depend on adoption, liquidity, and metaverse growth.

Final Thoughts: $NAKA’s Potential in GameFi

$NAKA stands out as a functioning GameFi token with real use cases: powering gameplay, staking, NFTs, and metaverse interactions. Its tokenomics support scarcity and long‑term alignment, while active user rewards and ecosystem burns foster price support.

For gamers, it’s an earning engine. For developers, a monetized platform. For investors, a bet on tokenized gaming infrastructure. Upcoming catalysts such as land sales, a stablecoin, NAKAVERSE phase upgrades, app expansion, and NFT utility enhancements all offer clear paths to growth.

If these continue on roadmap, $NAKA may move beyond modest price prediction ranges—especially as demand for metaverse land, game entry, and staking scales. It remains a GameFi layer at an inflection point: functional today, with multiple unlock events ahead.

For anyone exploring GameFi opportunities, GameFi ecosystem development, or $NAKA price prediction, this token combines utility, momentum, and governance potential.

Over $3 billion in short positions are concentrated between $107,000 and $108,000, which is now a liquidation cluster. If Bitcoin breaks $113,369, it could trigger a short squeeze and send price parabolic.

“$108K flipped resistance into support. This structural shift could accelerate price discovery into the $117K-$120K range,” a senior derivatives analyst said.

Key support has moved up to $108,000, which was previously resistance. This reassignment of support levels means more confidence in the market and is bullish in the short term.

Golden Cross Formation Signals Potential Breakout Above $110,000

The technical analysis indicators are even more bullish with a golden cross coming on the daily chart. The 50-day exponential moving average (EMA) is closing in on the 200-day EMA—an event that has historically led to big upside.

• Golden cross has preceded 45-60% gains in past BTC cycles
• A close above $110,000 would be a 17% May gain
• Current monthly performance is nearly double the 10-year average of 9.2%

If Bitcoin holds these levels into month-end, May could be the strongest month since 2019. That would be more evidence of demand and set up for fresh inflows into the second half of the year.

Bitcoin Key Levels: $113K Resistance, $117K-$120K Target

From a price structure standpoint, Bitcoin is still in a steep ascending channel that started in early April. The MACD histogram is still bullish but is flattening out—a sign that the move may need a consolidation phase before it extends.

Resistance is at $113,369. A daily close above that would be a breakout and open up $117,141 and $120,913. If rejected, we could see a retest of the $108,000 breakout zone, which would be a re-entry point for trend followers.

• Resistance zones: $113,369 → $117,141 → $120,913
• Support zones: $108,000 → $106,500
• Technical signal to watch: Spinning top or rejection candle near $113K

Short term momentum may pause at resistance but overall structure is still bullish as long as price is above $106,500 and the channel midline.

BTC Bull Token Nears $6.98M Cap as 71% Staking Yield Drives Demand

As BTC holding near $104K, investor focus is shifting toward yield-generating altcoins—none more so than BTC Bull Token ($BTCBULL). The token has now raised $6.06 million out of its $6.98 million presale goal, with a price increase looming as it enters its final funding stretch.

What sets BTCBULL apart is its flexible staking model, offering an estimated 71% annual yield with no lockups or withdrawal penalties.

This approach gives investors the freedom to earn passive income while maintaining full liquidity—an attractive alternative to traditional DeFi staking protocols.

Key Stats:

• USDT Raised: $6,062,795/ $6,981,682
• Token Price: $0.00252
• Staking Pool: 1.47B BTCBULL
• Yield: 71% APY

BTCBULL merges the viral appeal of meme tokens with the real-world utility of DeFi, making it a standout pick for those looking to capitalize on the 2025 crypto cycle.

With under $1 million left before the next price tier, entry at current levels is limited—fueling urgency among retail investors seeking early access to passive yield.

The post Bitcoin Price Prediction: Record $72B in Futures Open Interest — Here’s Where BTC Could Be Headed Next appeared first on Cryptonews.

Last around $87, the Litecoin price has been in a strong uptrend in recent weeks. Since bouncing at its early April lows under $64, LTC has risen around 40%.

In doing so, its broken convincingly above its 21 and 50DMAs, as well as a multi-week downtrend.

Bulls are now focused on a likely near-term retest of the $97 area, a major zone of support-turned-resistance going back to December.

A break above here would unlock a move higher towards recent multi-month highs in the $140s, more than 60% up versus current levels.

Chart analysis suggests this is the likeliest next move for Litecoin. But with macro risks growing in the background, a lot of uncertainty remains.

Where Next for the Litecoin Price?

The strong rally in crypto and US stock markets in recent weeks has been driven by hopes that US President Donald Trump is backing off from his trade war, and the economic shock of trade uncertainty won’t be so bad.

Forward looking “soft” US economic data releases paint a picture of a rapidly deteriorating economy.

But more backwards looking “hard” data, like the US jobs report released on Friday, show the economy holding up for now, underpinning the optimistic attitude of the market.

That said, sentiment could quick turn for the worse if recession fears come flooding back. And altcoins like Litecoin are highly exposed to a possible pullback.

Sure, the Litecoin price could reach back to its recent highs in the $140 area in the coming months.

But traders would do well not to chase the rally higher. That’s not until the conditions for a new altcoin season really start to fall into place.

Historically these conditions have been 1) major central banks pumping the market full of liquidity and 2) strong economic growth and optimism about the future.

With the Fed still concerned about “sticky” inflation and trade uncertainty unlikely to abate any time soon, these goldilocks conditions for altcoins aren’t likely to arrive any time soon.

Solely (SOLX) – A Better Alternative for Near-term Gains?

A better crypto to buy now for near-term gains might be a promising new Solana project called Solely (SOLX), which has caught the attention of the web3 community with its impressive presale that’s raked in over $32 million so far.

That ranks it as one of the biggest presales of the year, and tees it up to be one of the biggest token launches of 2025.

Solaxy is the first Layer-2 solution for the Solana blockchain, designed to address network congestion and enhance scalability.

By processing transactions off-chain and using rollups, Solaxy ensures faster, cheaper transactions while maintaining Solana’s security.

With its massive presale haul, a 125% APY staking program and a growing community of over 70,000 followers, Solaxy is gaining major traction.

Its no surprise then that some analysts are predicting a 10x return by the end of 2025, driven by Solana’s surging DeFi activity and Solaxy’s innovative infrastructure.

As Solana’s ecosystem expands, Solaxy’s utility and potential make it a top crypto investment now.

The post New Litecoin Price Prediction Targets $100 and Beyond – Where Is LTC Headed Next? appeared first on Cryptonews.

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Crypto analyst Crypto Bullet has revealed a bullish pattern for the Dogecoin price, which could send the meme coin above $3.2. The analyst also provided a timeline for when the foremost meme coin could reach this price target. 

Dogecoin Price Eyes Rally Above $3.2 As Textbook Accumulation Cylinder Forms

In an X post, Crypto Bullet revealed that the Dogecoin price has printed a textbook accumulation cylinder, which provides a bullish outlook for the foremost meme coin. His accompanying chart showed that DOGE could rally above $3.2, marking a new all-time high (ATH) for the meme coin. 

The crypto analyst stated that based on this bullish pattern, the Dogecoin price rally to this target should start in the next few months. He added that the catalyst for this price surge is unknown, but affirmed that something interesting is coming. Crypto Bullet also noted that BTC dominance is topping out and that this could be the perfect recipe for a DOGE pump. 

Crypto analyst Kevin Capital recently suggested that a potential monetary easing policy from the Federal Reserve could be what sparks the next bull run for the Dogecoin price. He highlighted the fact that the Fed is projected to cut interest rates in June. The analyst expects DOGE to surge as this increasing money supply flows into the meme coin. 

Interestingly, June is also the timeline crypto analyst Master Kenobi provided for when the Dogecoin price could reach a new ATH. He predicted that DOGE would rally to as high as $0.9 during this period. Meanwhile, the analyst warned that it is still uncertain whether the meme coin will break past the psychological $1 price level. 

Update On DOGE’s Price Action

In an X post, Kevin Capital provided an update on the current Dogecoin price action. He noted that DOGE has held the macro .382 and the macro down-trending support at around $0.14. He further remarked that the monthly super trend has not yet gone vertical in this cycle. The monthly Relative Strength Index (RSI) is also at the same level it was at when the meme coin was at $0.11, with much room to rally to the upside. 

The analyst stated that, with the market entering the easing phase of the monetary cycle, he expects Bitcoin’s dominance to reach a macro top in the summer. Kevin Capital predicts that altcoins, especially the Dogecoin price, will then witness a massive surge once this happens. He urged market participants to ignore the short-term noise and focus on the long-term trajectory. 

At the time of writing, the Dogecoin price is trading at around $0.18, up 3% in the last 24 hours, according to data from CoinMarketCap.

Featured image from Getty Images, chart from Tradingview.com

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Bitcoin (BTC) has surged more than 10% over the past seven days and is currently trading in the low $90,000 range. Crypto analyst Titan of Crypto suggests that further gains may be on the horizon based on Fibonacci extension levels.

Bitcoin May Climb To $135,000

In a post published on X today, Titan of Crypto outlined Bitcoin’s potential path to $135,000. Using Fibonacci extension levels, the analyst predicts that the flagship digital asset could surge as high as $135,109 by July-August 2025.

For the uninitiated, Fibonacci extension levels are technical analysis tools used to identify potential price targets during strong trends by projecting key Fibonacci ratios beyond a recent price swing. Traders use these levels to anticipate where an asset might find resistance or complete a move after a breakout.

According to the following weekly BTC chart shared by Titan of Crypto, a 100% Fibonacci extension from Bitcoin’s recent retest of the $76,000 support level projects its next major target near $135,000.

The chart highlights similar price behavior from August 2024, when BTC surged nearly 100%, setting a new all-time high (ATH) around $73,000 by November 2024. If the current trend follows a similar trajectory, BTC may post a new ATH by July 2025.

Other crypto analysts also predict positive price action for the leading digital asset. For example, crypto analyst Jelle shared a chart showing BTC breaking through a downside deviation.

Jelle noted that BTC is giving bulls “exactly what they want to see.” Following the recent rally, BTC experienced a shallow pullback and appears poised to confirm a range-low reclaim before potentially pushing higher. The analyst added that BTC could next test resistance near $100,000.

Binance Data Indicates An Upcoming Short Squeeze

Adding to the bullish case is trading data from Binance. According to a CryptoQuant Quicktake post by Novaque Research, BTC outflows from the exchange have risen significantly since April 19.

The surge in withdrawals is backed by declining exchange reserves, suggesting reduced short-term selling pressure and a market increasingly driven by retail participants. The post states:

High-leverage longs were flushed out between $82K and $88K, indicating that weak hands had been eliminated. Large short positions remain susceptible above $92,000, creating the possibility of a short squeeze, which might act as the next step higher.

Broader macroeconomic factors could also contribute to BTC’s upside. For instance, rising concerns over the US Federal Reserve’s autonomy may drive investors toward decentralized assets like Bitcoin. At press time, BTC trades at $93,302, up 0.8% in the last 24 hours.

Featured Image from Unsplash.com, charts from X and 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.