Bitcoin reached a new all-time high above $124,000 early this morning, surpassing its previous peak set in July, while Ethereum approached $4,800, a level not seen since late 2021.

Both assets surpassing or reaching key historical thresholds creates market momentum, which is supported by macroeconomic expectations, regulatory changes, and derivatives positioning.

The latest surge coincided with increased probability of a Federal Reserve rate cut in September, now priced at more than 80% in futures markets. Lower interest rates are generally seen as supportive for risk assets, and the combination of softening monetary policy with sustained institutional demand has been a consistent driver for crypto markets in 2025.

The current administration’s policy backdrop, which includes measures to allow 401(k) retirement plans to hold crypto and the passage of the stablecoin GENIUS Act, is also contributing to a favorable environment for digital assets.

Options data show traders targeting $126,000 in the near term for Bitcoin, with some positioning for $128,000 to $132,000 if momentum holds. This follows a year-to-date gain of roughly 33% for Bitcoin, which has also nearly doubled over the past 12 months. The recent price action saw Bitcoin break through multiple resistance levels, including $120,923 and $123,164, before hitting its new high.

Ethereum has advanced roughly 41% since January, climbing to about $4,780 on Thursday. The move brings it within reach of its all-time high of $4,800. Standard Chartered has set a $7,500 target for ETH within the next six months.

Macro conditions have been a major factor for both assets. Reuters reported that the dollar weakened as investors positioned for U.S. rate cuts, supporting risk assets broadly. For crypto markets, these developments add to a year marked by heavy exchange-traded fund inflows, expanded participation from traditional finance, and increased regulatory clarity in the U.S. Policy support and macro tailwinds have been reflected in heightened spot volumes and open interest across futures and options markets.

While the market outlook remains tied to the pace and scale of central bank easing, technical levels are closely watched. For Bitcoin, $125,000 is seen as immediate resistance, with further upside potential toward $132,000 if current conditions persist.

For Ethereum, $4,800 remains the key level to clear before a potential move into uncharted price discovery. Both assets are trading in zones last visited during prior market peaks, with on-chain data showing robust network activity accompanying the price moves.

Over the last few hours, a minor retracement has placed Bitcoin 1.7% below its new highest valuation, around $121,900. Ethereum remains at the threshold of matching its own record, just $50 away, marking a notable moment in the ongoing 2025 rally.

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Degen Crypto, one of the base network’s major meme coins, has risen nearly 20% over the past seven days, while unofficial base mascot Brett has risen 7% at the same time.

At present, most chains’ attention is focused on Solana with the recent surge in the Bonk ecosystem and the upcoming launch of Pump.Fun Token, which dominates social media attention.

However, there is good reason to believe that pump tokens can emit substantial amounts of liquidity from the market. This is where the base can intervene as a safe shelter to the degree above the chain.

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Base Chain Sentiment Check – Desancrypt to lead now

Degen Crypto is one of the most well-known basic chain projects, derived from the decentralized social network Farcaster. It quickly became the face of social network platforms as it plunged into the wider basic ecosystem.

Released in January 2024, DeGen surged from about $0.0008 to $0.056 in under a month around March of the same year, increasing by about 70 times, marking the highest ever held today.

It all paid off last October when Degen Crypto received his Coinbase list. This is a coveted achievement that other meme coins on the base today, including Brett, have not achieved.

This was monumental to the Degen token, and helped to establish it as a major player in the base, resulting in a consistent volume that comes with being listed as one of the world’s biggest centralized exchanges.

Discovered: 20+ Next Cryptocurrency Exploding in 2025

Even in the current low-capacity market, DeGen consistently handles daily trading volumes of over $10 million. This is an impressive feat of the project, with a market capitalization of just $80 million.

Speaking of market capitalization, DeGen is down 94% from an all-time high, offering risk-reward opportunities in favor of major basic projects struggling with recession across the broader market.

To see a return to its high in March 2024, DeGen Crypto will need to achieve a 15x price increase. This doesn’t seem entirely unrealistic given its nature as an established base chain meme coin that can be used by more than 10 million active monthly users on Coinbase.

Away from Degen, Brett is the main meme coin on the base, boasting a market capitalization of $430 million. This is the first base meme coin to peak at $2.1 billion in December 2024 and become a billion-dollar project.

Base Utilities – Major AI Projects for Giza Preservation

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Giza Crypto entered the scene in June as an emerging powerhouse in the base’s AI agent space. While the Virtuals Ecosystem is dominated, Giza is independent as a critical infrastructure protocol for intelligent, automated distributed finance (DEFI) systems.

The basic ecosystem has become hot and it reached a short time of $0.5 at the beginning of June, but has since cooled down and is now trading at around $0.175.

As the new project ranges from $10 million to $40 million in market capitalization, the story shifts from base to Solana and its Bonku ecosystem, but highlights the strength and long-term position of the project, as opposed to being another flash of Pan.

Giza raised $6.7 million in three separate funding rounds between 2023 and 2025. This was led by several heavily-hit VCs, including CoinFund, Coinbase Ventures and Allington Capital. With this support, Giza has given the time and space to focus on building a defi ecosystem of AI agents.

This project gives users the option to earn returns through an autonomous AI agent. This is being developed with a hyper-intelligent trading strategy. The Giza Dashboard shows that all utility-based metrics are compatible with your project.

Agent trading volume exceeds $323 million, up 37% a week, but assets under the agent have recently surpassed $10 million and are now up 16% at over $11.2 million. Total number of agents and total deals by agents have also increased over the past seven days.

With the continued growth of the project, it seems like a great example of a base chain token that could bring great benefits if attention and liquidity begin to return to the network.

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Decentralized exchanges (DEX) processed roughly $385 billion of spot trades in June, equal to almost 30% of the turnover recorded by centralized venues, according to DefiLlama and The Block data.

The 30-day DEX figure represents a 12% decline from May, but centralized exchange (CEX) spot volume contracted nearly 30% in the same period. Notably, this is the smallest monthly trading volume from CEX since September 2024.

These divergent movements resulted in a “DEX to CEX Spot Trade Volume” of 28.4% as of press time, a new all-time high. The previous record was roughly 21%, seen in May.

Biggest DEXs hold their ground

Lower relative drawdowns on Uniswap, PancakeSwap, and other permissionless venues explain most of the market share expansion. 

Combined volume at the top five DEXs, which also include Orca, Raydium, and Meteora, slipped less than 10% month-on-month, aided by steady stable-pair turnover on Ethereum and growing activity on BNB, Solana, and Base. 

Binance, Coinbase, OKX, and other centralized platforms saw deeper declines as traders reduced leverage and moved assets to self-custody.

Bitcoin (BTC) activity could serve as a proxy for this movement, as Binance recently registered 5,700 BTC in a 30-day inflow, which is less than half the average seen since 2020.

Furthermore, data from Nansen shows a steady decline in the ERC-20 stablecoin supply on centralized exchanges since June 17.

With less than one trading day remaining in June, the running DEX total sits $15 billion shy of the $400 billion threshold. 

The average daily volume over the past week exceeded $13 billion, leaving a plausible path to finish above $400 billion if market conditions remain stable.

An ongoing trend

Despite some woes between January and April, the DEX to CEX ratio never dipped below 12% in 2025. Between 2019 and 2024, the 12% threshold was breached only four times, highlighting the strength of on-chain trading this year.

In January, analyst Ignas noted that price discovery is shifting heavily to decentralized exchanges rather than being held by venture capital funds.

According to the analyst, this occurs because traders labeled as “smart money” are predominantly involved in on-chain trading.

Consequently, the volumes on centralized exchanges act as “exit liquidity” for these traders. The increase in on-chain trading volumes could reflect traders moving to platforms where the action originates rather than waiting in centralized venues.

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US stock futures are at record highs as the country’s largest markets are nearing their peaks, which could help propel Bitcoin to reach another all-time high, according to analysts. 

S&P 500 futures entered new all-time high territory on Thursday with the index tapping 6,145 points, surpassing February’s peak. The tech-heavy Nasdaq Composite futures also hit a peak at 20,180 around the same time. 

The S&P 500 has gained 23% since its April 8 crash as trade tariff shocks ease and a ceasefire between Israel and Iran appears to hold.

Stock futures are derivative contracts where traders agree to buy or sell a specific stock index, such as the S&P 500, at a set price at a future expiration date. They trade overnight and before markets open, often providing insight and signals on how stocks might open the following day. 

The rally came as investors digested new reasons to believe the Federal Reserve may cut interest rates as early as July, Yahoo Finance reported.

Will Bitcoin follow stock market gains? 

Analysts have been weighing in on the prospect of Bitcoin (BTC) following stocks to a new all-time high. 

“US stock futures nearing all-time highs, fueled by geopolitical easing and Fed rate-cut expectations, are bolstering investor risk appetite as Bitcoin’s recent rebound increased speculation of a new record high in the near future,” Nick Ruck, director at LVRG Research, told Cointelegraph. 

Related: Coinbase stock ‘going vertical’ as it hits new closing high

He added that sustained equity momentum and institutional inflows “could propel BTC past its $109,000 resistance into a new price discovery phase if the Fed rate cut happens “in the coming months.”

Bitcoin ripe for all-time highs

Jeff Mei, chief operations officer at crypto exchange BTSE, told Cointelegraph that “conditions are ripe for Bitcoin to surpass its previous all-time high of about $112,000, especially given that the Iran-Israel conflict seems to be over for the time being.” 

Meanwhile, BitMEX founder Arthur Hayes posted to X on Thursday that Bitcoin all-time highs “are coming,” and pointed to the passage of stablecoin regulations in the US and the easing tensions in the Middle East.

Bitcoin cools from resistance 

Bitcoin has failed to break resistance above $108,000 at least three times this week and has declined from its last attempt on Thursday to trade at $107,400.

10x Research head of research Markus Thielen told Cointelegraph that a “notable dovish shift is emerging” among Fed leadership, but the market remains constrained.

“Many traders have written covered calls against their BTC holdings, which is suppressing both price momentum and volatility.”

BTC struggles at $108,000 resistance. Source: TradingView

The Fed on Friday will release its preferred inflation gauge, called the Personal Consumption Expenditures (PCE) report, which could induce more market volatility. 

Magazine: North Korea crypto hackers tap ChatGPT, Malaysia road money siphoned: Asia Express

]]> https://earlybirdsinvest.com/us-futures-hit-record-high-setting-bitcoin-up-for-new-peak-analysts/feed/ 0 44360 https://earlybirdsinvest.com/bitcoin-btc-setting-base-for-new-run-to-all-time-highs-according-to-trader-who-called-2021-market-top/ https://earlybirdsinvest.com/bitcoin-btc-setting-base-for-new-run-to-all-time-highs-according-to-trader-who-called-2021-market-top/#respond Thu, 26 Jun 2025 07:16:22 +0000 https://earlybirdsinvest.com/bitcoin-btc-setting-base-for-new-run-to-all-time-highs-according-to-trader-who-called-2021-market-top/

An analyst with a history of making timely Bitcoin calls believes that BTC is setting the stage for a huge move to the upside.

Pseudonymous analyst Dave the Wave tells his 153,600 followers on the social media platform X that if Bitcoin breaks through resistance at the $105,304 level, it will likely trade sideways for a while before bursting to new all-time highs.

“Wanting to see BTC break through the line of resistance to create a multi-month sideward ranging channel, a solid base from which to push to new highs.”

The analyst also says key indicators suggest Bitcoin remains in a bullish trend, including that the flagship crypto asset is trading well-above the lower bound of a years-long upward channel.

“The main BTC bullish takeaways:

• Maintaining a multi-year upward technical channel, with price well-positioned within that channel.
• Multi-year support being found at the one-year moving average, and not too far extended from that average.”

Lastly, he says Bitcoin’s recent sideways price action, including a temporary dip into the $90,000 level, is likely due to geopolitical concerns.

“BTC continued consolidation. A nervous market with recent developments in the Middle East.”

Bitcoin is trading for $107,904 at time of writing, up 1.8% in the last 24 hours.

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An analyst known for making timely altcoin calls believes that one memecoin running on Solana (SOL) is gearing up for a huge upside burst.

Pseudonymous analyst Bluntz tells his 319,800 followers on the social media platform X that he sees the memecoin SPX6900 (SPX) igniting steep surges based on the principles of the Elliott Wave theory, an advanced technical analysis approach that tries to predict future price action by following crowd psychology that tends to manifest in waves.

According to the theory, a bullish asset tends to witness a five-wave rally, with wave three representing the longest and steepest upside move.

Says Bluntz,

“SPX looks insane in my opinion, it looks like the entire price action from the March lows is all 1-2s and hasn’t even had a wave three yet, setting the stage for a full-blown parabola later.”

Based on the trader’s chart, he seems to predict that SPX will rally to $2.20. At time of writing, SPX is worth $1.10.

The analyst is also bullish on dogwifhat (WIF), another Solana-based memecoin. The trader predicts that WIF will hit $1.25 in the near term.

“What a move on WIF already, well and truly reclaimed the range, and looking impulsive in my opinion, I think this pullback was a wave four low.”

At time of writing, WIF is worth $0.97.

Looking at the broader altcoin market, Bluntz believes that one group of coins has the potential to outperform all other tokens.

“When the real altcoin bid returns, memes are always the strongest.

It really doesn’t matter how badly you want fundamentals to matter, it won’t, because at the end of the day, it’s all vaporware anyway, and we all know it.”

But beyond the crypto market, the trader says he has his eye on silver, an asset that he thinks can shatter its all-time high of around $50.

“Silver/gold ratio looks like it’s starting to roll over with silver in USD gearing up finally for a major breakout.

Relative to gold price action, $75 silver not outside the realm of possibility in my opinion.”

At time of writing, silver is worth $34.50.

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Crypto analyst and trader Ali Martinez is leaning bearish on one large-cap altcoin as he offers his outlook for Bitcoin (BTC) and the native token of the blockchain oracle Chainlink (LINK).

Martinez tells his 134,800 followers on the social media platform X that payments altcoin XRP (XRP) could plummet by around 37% from the current level after forming a head-and-shoulders pattern on the daily time frame.

A head-and-shoulders is a bearish pattern suggesting that an asset is losing bullish momentum after failing to print new highs with its right shoulder.

XRP, the fourth-largest crypto asset by market cap, is trading at $2.05 at time of writing.

Next up is Bitcoin. The analyst and trader says Bitcoin could flip bullish if the crypto king manages to retest a key price level as support. Specifically, Martinez says he’s keeping a close watch on BTC’s short-term holder (STH) realized price, a metric that tracks the average price at which all STHs acquired their coins.

STHs are defined as wallets that have held their coins for 155 days or less.

“The first signal that Bitcoin is ready to resume its bull run is reclaiming the short-term holder realized price at $90,570!”

Bitcoin is trading at $83,300 at time of writing.

The crypto analyst and trader also says that there are “signs of profit-taking” in the Bitcoin market as older coins return to crypto exchanges. Citing data from the blockchain analytics platform CryptoQuant, Martinez says that more than 1,058 BTC, worth slightly over $88 million at the current price, were moved by long-term holders in just one day.

Long-term holders are entities that have kept their coins inactive for more than 155 days.

Looking at Chailink, Martinez warns that LINK could turn bearish as it tests an ascending trendline on the weekly chart that has kept the altcoin bullish since July 2023.

Chainlink is trading at $12.63 at time of writing.

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