“BTC looks north as Fed rate cut looms. But one key resistance is yet to be cleared.”, — write: www.coindesk.com
The recent upswing in BTC price is likely fueled by market expectations of a Federal Reserve rate cut anticipated this Wednesday and positive developments in the ongoing US-China trade tensions.
Despite these encouraging signs, caution is warranted as the CoinDesk Bitcoin Trend Indicator (BTI), which gauges the presence, direction, and strength of momentum, continues to signal a downtrend. Further, BTC prices remain below the Ichimoku cloud on the daily chart, a key resistance level. A decisive move above this cloud would confirm the bullish revival and potentially set the stage for a rally toward $120,000 and beyond.
BTC’s daily chart. (TradingView)
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XRP surged 3% to $2.68 during Sunday’s session, breaking above the critical resistance level at $2.63 on a dramatic volume spike — one of the largest of the month.
- XRP surged 3% to $2.68, breaking above the critical resistance level at $2.63 with significant trading volume.
- Institutional interest and upcoming regulatory developments are driving the current momentum in XRP.
- Traders are monitoring whether XRP can maintain its support at $2.63 and if volume remains high to support further gains.
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