BitMEX co-founder Arthur Hayes is unloading his altcoin positions, believing that the crypto market will witness a correction this month.

In a new post on the social media platform X, blockchain tracking firm Lookonchain spotted Hayes selling millions of dollars worth of Ethereum (ETH) as well as the memecoin Pepe (PEPE) and the stablecoin-focused project Ethena (ENA).

“Arthur Hayes sold 2,373 ETH ($8.32 million), 7.76M ENA ($4.62 million) and 38.86 billion PEPE( $414,700)…”

The crypto veteran says he’s selling his altcoins because he believes that Q3 will be a period of sluggish economic growth. Hayes believes monetary policies are not loose enough to stimulate the economy, especially with Trump’s tariffs on the horizon.

According to Hayes, macroconditions are ripe to trigger significant retracements for Bitcoin (BTC) and Ethereum.

“Why? US Tariff bill coming due in 3Q … at least the market believes that after NFP (non-farm payroll) print. No major economy is creating enough credit fast enough to boost nominal GDP. So BTC tests $100,000, ETH tests $3,000.”

Despite his short-term bearish stance on crypto, Hayes believes that the asset class is still in a strong uptrend

Late last month, he unveiled his year-end price targets for Bitcoin and Ethereum.

“My year-end targets:

Bitcoin = $250,000.

Ether = $10,000.”

At time of writing, Bitcoin is trading for $113,197, while ETH is worth $3,420.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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BTC Price Analysis: Technicals

By Shayan

The Daily Chart

Bitcoin continues to consolidate within the narrow $116K–$120K range, marked by low volatility and subdued price action. This sideways movement suggests an ongoing equilibrium between buying and selling pressure, possibly due to capital rotation into the altcoin markets.

A key concern is the emergence of a bearish divergence between the price and the RSI indicator, indicating a fading of bullish momentum. This divergence increases the likelihood of renewed selling pressure and suggests a possible continuation of the correction phase. If so, a move toward the $111,000 support level becomes probable.

Despite this, the broader market structure remains bullish as long as the $111,000 level holds. If this price point acts as a reliable demand zone, an eventual breakout above $120K could resume the larger uptrend.

The 4-Hour Chart

On the lower timeframe, BTC is forming a bullish flag pattern, a classic consolidation formation within an uptrend. The price has consistently printed higher highs and higher lows, supported by an ascending trendline acting as dynamic support,  currently near the $114K level.

As long as this trendline remains intact, the market is likely to continue consolidating inside the flag, which aligns with a healthy correction.

However, a breakdown below this ascending support would likely trigger a sharper pullback toward $111K, forming a key liquidity zone.

On-chain Analysis

By Shayan

The latest futures order flow shows a noticeable surge in small-sized positions, a strong indication that retail traders are actively participating in the current price range. This spike reveals a high level of retail engagement, especially within the $116K–$120K consolidation zone.

Interestingly, large-scale sell-side activity (represented by green circles), typically associated with institutions or whales, is not present. These major players are not offloading their positions, suggesting that they remain confident in the ongoing bullish trend and do not expect a major reversal just yet.

This setup, with retail activity high and smart money quiet, has historically preceded major bullish moves. While the market may seem stagnant, this phase often serves as a cooling-off period before another leg of the upward trend. The lack of panic from whales adds weight to the theory that this is a healthy consolidation, not a trend reversal.

Once the current range resolves, a fresh wave of demand may enter the market, likely pushing Bitcoin toward new highs.

The post Bitcoin Price Analysis: Is a Crash to $111K Imminent for BTC? appeared first on CryptoPotato.

An analyst known for timely altcoin calls believes that new record-level prices are on the horizon for the payments altcoin XRP (XRP).

Pseudonymous analyst Pentoshi tells his 870,600 followers on the social media platform X that XRP’s chart looks bullish and that the altcoin might see new all-time high prices in the coming weeks.

But for now, Pentoshi thinks that XRP will take a breather before sparking the next leg up.

“XRP:

This is probably going to do price discovery in the next two weeks as well, in my opinion…

XRP looks disgustingly good even on the BTC pair, to be honest…

Also, one with quite a few tailwinds and held up very well for the past several months.” 

As for XRP’s tailwinds, Pentoshi says the altcoin may benefit from Ripple’s push to obtain a banking license and the potential passing of stablecoin regulations into law.

Looking at the broader altcoin market, the trader says he’s now seeing the possibility of rotation from large-cap to mid-cap coins.

“Mostly been in large caps.

So far, they’ve done ver,y very well.

Will probably look out for a few mid-caps for [this] week. (Have not looked at those in a while).

A lot of the charts structurally look great, and I hope we can get a good few weeks out of it and then go from there.” 

Mid-cap altcoins are crypto assets with a market cap of $1 billion to $10 billion.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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Veteran on-chain analyst Willy Woo says that Bitcoin (BTC) is on the edge of moving into a lengthy correction phase.

Woo tells his 1.2 million followers on the social media platform X that BTC has until Monday to avoid printing a bearish divergence on the weekly chart.

A bearish divergence happens when price makes higher highs, while an indicator like the relative strength index (RSI) makes lower highs, suggesting that an asset is losing bullish momentum.

Says Woo,

“Dear Mr Bitcoin, you have [until Monday] to rally or you’re gonna print a bearish divergence on weekly charts and then we will be bored for weeks and weeks.”

Using proprietary data from his Bitcoin analysis firm, the Bitcoin Vector, Woo says that BTC appears to be strong, but may be “equalizing” itself after rallying faster than usual in previous months.

“Our Bitcoin Vector framework remains strong despite the pullback.

What’s happening is technical resistance in the form of a bearish divergence playing out against strong fundamentals. Basically, BTC ran up faster than normal and is equalizing.”

While many traders are still betting on the traditional halving-based four-year cycles, Woo says BTC is becoming more linked to external macro forces, and that predictable, cyclical price patterns are now a thing of the past.

“BTC is global macro this cycle. Which means don’t necessarily bet on nicely manicured four-year cycles. BTC is transitioning.

Internal forces, the halvening, are getting weak, global liquidity powers BTC – hence BTC is becoming the canary in the coal mine for global macro moves.”

At time of writing, Bitcoin is trading at $104,737

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated Image: Midjourney

The Dogecoin price could be at a critical juncture for a breakout but momentum needs to persist.

On the four-hour chart shared by analyst Josh Olszewicz, price has been sliding inside a clearly defined falling-wedge formation since printing a local high at $0.25941 on 13 May. The upper and lower boundaries of that wedge continue to drift lower, trapping successive swing highs and lows; the lower rail is presently guiding support at while the upper rail caps the market near $0.219.

Within that compression, Olszewicz overlays an Ichimoku system set to short-cycle parameters (20/60/120/30). The most recent completed candle — stamped 17 May 08:00 UTC — settled at $0.21532 after trading between $0.21187 and $0.21676. That close left price lodged squarely inside the cloud, a location that typically denotes equilibrium. Internally, the Tenkan-sen rests at $0.21427, the Kijun-sen at $0.22524, Senkou Span A at $0.22102 and Senkou Span B at $0.21184, creating an unusually tight band of short-term reference levels.

Related Reading

The zone between the wedge floor and Span B around $0.212–0.214 forms a high-confluence support zone that has already produced two intraday rebounds. Conversely, the Kijun-sen and descending wedge resistance intersect near $0.225, erecting an equally visible ceiling overhead. As long as price remains trapped between those two lines, momentum traders are likely to see a low-volatility coil; the first decisive breach — particularly a four-hour close through the upper rail — would satisfy every textbook criterion for a bullish falling-wedge resolution and mechanically projects a return toward the 13 May high.

Dogecoin Looks Still Strong

Cantonese Cat’s weekly perspective speaks to a larger cycle. In his chart, Dogecoin has just finished its first weekly close above the Bull Market Support Band — essentially the 20-week simple moving average enveloped by a two-sigma envelope — since early February. That band currently spans $0.21617 at the lower edge to $0.22378 at the upper edge; last week’s candle settled at $0.22387, a whisker above the cap, converting what had been resistance throughout the spring into provisional support.

The break occurs while the Bollinger upper band is still descending from the February crest near $0.35, an indication that volatility on the weekly time-frame has only just begun to contract after a multi-month bear unwind. The midline of the Bollinger structure, identical to the 20-week SMA and the top of the Bull Market Support Band, is therefore the single most important pivot for the week ahead.

Related Reading

A second consecutive weekly settlement above $0.22378 would confirm the first as more than a one-off spike and could embolden trend-followers to price in a medium-term push toward the mid-$0.30s where the upper band presently curves.

Taken together, the two time-frames sketch a clear roadmap. Short-term traders will be looking for a resolution of the descending wedge; a bullish breakout through $0.219 would immediately shift focus to prior supply at $0.24-0.26, whereas a failure to hold $0.205 risks an acceleration toward the April pivot at $0.185.

At press time, DOGE traded at $0.217.

Featured image created with DALL.E, chart from TradingView.com

The structure suggests that bearish momentum may be weakening, allowing buyers to step in. With volume expected to increase upon a breakout, this pattern could mark a pivotal shift for DOT and spark a strong upside move, potentially starting a new bullish phase.

Why The Polkadot Falling Wedge Is Bullish

Crypto analyst Jascrypto recently highlighted that Polkadot has completed a breakout from a multi-month falling wedge pattern. Falling wedges are typically viewed as reversal patterns, and DOT’s successful breakout suggests that downward pressure may be easing after months of consolidation. This structural shift reflects growing optimism and signals that the asset could be preparing for a larger upward trend.

Jascrypto pointed out that DOT is currently testing the 100-day and 200-day Exponential Moving Averages (EMAs), key technical levels that often act as strong resistance in bearish conditions. He emphasized that a decisive daily close above these EMAs would validate the breakout and signal a shift in market sentiment.

According to Jascrypto, if Polkadot maintains momentum and closes above these critical levels, it may pave the way for a rally toward the $5.5 to $6.0 range in the near term. This move would mark a significant recovery phase for DOT, attracting fresh bullish interest from investors.

In an alternative scenario, Jascrypto noted that the worst-case outcome might see Polkadot dipping as low as $3.120 on higher timeframes. However, he added that such a move could set the stage for a much stronger rebound, propelling the price above the $7 mark once momentum returns.

Momentum Indicators Lean Bullish – Is DOT Ready To Run?

Momentum indicators are beginning to align in favor of the bulls, offering promising signals that Polkadot may be gearing up for a meaningful move higher. The 4-hour Relative Strength Index (RSI) has rebounded from oversold territory, hovering near the midpoint around 50. This shift indicates that bearish momentum is fading, and buyers may be gradually regaining control.

Adding to the optimistic trend, the 4-hour Moving Average Convergence Divergence (MACD) has shown a bullish crossover, where the MACD line crosses above the signal line. A move that often marks the beginning of a new uptrend or a pause in prior downside pressure. Combined, the RSI’s recovery and the MACD’s bullish signal suggest that DOT’s momentum is shifting favorably, setting the stage for a potential breakout continuation if price action remains strong.

Crypto traders aiming to profit from a volatility surge should watch the Binance-listed ether-bitcoin (ETH/BTC) ratio, which could soon experience wild swings, according to a key indicator called Bollinger Bands.

Bollinger Bands are volatility bands placed two standard deviations above and below the 20-day simple moving average of an asset’s price.

The so-called Bollinger band squeeze occurs when the bands contract tightly around the price, suggesting low volatility and a period of consolidation. The market typically builds energy during the squeeze, which is eventually released in either direction, leading to a volatility explosion.

The Bollinger Bands on the ETH-BTC chart are now the tightest they have been since June 2020, according to TradingView.

The squeeze indicates that ether could soon experience increased volatility against BTC. Traders watch closely to see which way the price breaks out of the bands because, often, the big move happens in the same direction.

The volatility bullish signal comes as Ethereum’s Pectra upgrade, which aims to improve the blockchain’s scalability and validator operations and may sput market activity.

The impending upgrade, due May 7, greatly increases the maximum ETH a validator can stake, from 32 ETH up to 2,048 ETH. It also raises the number of “blob” data units per block from 3 to 6, allowing for a maximum of 9. Additionally, the upgrade will start the transition to the EVM Object Format (EOF), a new structure designed to make smart contracts more efficient.

“Layer-2 networks stand to benefit the most. By doubling blob capacity and making call data more expensive, Pectra solidifies blobs as the standard for rollup data posting. This reinforces Ethereum’s role as a data availability layer and strengthens its rollup-centric scaling strategy,” analytics firm Nansen said in a report shared with CoinDesk.

“DeFi will also see a lift,” the firm noted, saying, NFTs and blockchain games may benefit from the broader improvements.

A closely followed crypto strategist and trader believes that the time for altcoins to shine is close at hand.

Pseudonymous analyst TechDev tells his 520,200 followers on the social media platform X that two macroeconomic factors are flashing bullish for altcoins based on historical precedent.

The trader shares a chart suggesting that altcoins tend to explode whenever global liquidity surges and the business cycle bottoms out.

Global liquidity refers to the amount of money sloshing in the world’s financial system, while the business cycle tracks the rise and fall of economic activity over time.

Says TechDev,

“Altcoins don’t run until liquidity breaks out. It’s time.”

Based on the trader’s chart, he appears to suggest that altcoins have sparked steep rallies in 2016 and 2020 following a business cycle bottom and a global liquidity breakout.

Turning to Bitcoin (BTC), the trader predicts that the crypto king will also rally due to the bullish alignment of the two macro factors.

“Are you ready?”

Zooming in on BTC, the trader predicts that Bitcoin will hit a massive price target this cycle after breaking out from a cup-and-handle pattern, which is typically viewed as a bullish continuation structure, indicating that buyers are stepping in without waiting for the asset to drop to its price lows.

“After all the rigorous analysis, will be amusing if it ends up this simple…”

Looking at the trader’s chart, he seems to predict that BTC can surge to as high as $500,000 by 2026.

At time of writing, Bitcoin is worth $85,165.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/Tithi Luadthong/Natalia Siiatovskaia