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Mexican Billionaire Says Bitcoin Will Be More Valuable Than Gold’s $22 Trillion Market

Albert Brown
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Mexican Billionaire Says Bitcoin Will Be More Valuable Than Gold’s $22 Trillion Market

Ricardo Salinas Pliego, the Mexican telecom and retail billionaire, has made bold predictions about Bitcoin. 

In a recent interview titled “The End of Fiat Is Now,” Salinas expressed his confidence that Bitcoin’s market cap will soon rival gold’s $22 trillion value. He believes that Bitcoin will increase at least eightfold from its present value of $105,000 per coin to match gold’s valuation.

Bitcoin Rivaling Gold’s Cap

Salinas compared Bitcoin’s current market capitalization of around $2 trillion to gold’s market cap of $22 trillion. This comparison suggests that Bitcoin has significant room for growth. If Bitcoin were to match gold’s market cap of $22 trillion, its price would be approximately $1.1 million per coin.

The billionaire is optimistic that Bitcoin will eventually surpass gold’s value, especially as the cryptocurrency continues to gain traction. He envisions a future where Bitcoin serves as the next reserve asset, replacing traditional fiat currencies and assets like gold.

Salinas’ views are grounded in his belief that Bitcoin is gaining ground over gold. He pointed out the recent downward trend in gold’s value, which contrasts with Bitcoin’s growth. For context, Bitcoin has significantly outperformed gold in recent years, with impressive gains of 156% in 2023 and 121% in 2024. 

In contrast, gold has shown modest growth, including a 14% increase in 2023 and a 26.59% growth in 2024, highlighting Bitcoin’s stronger momentum in comparison.

Screenshot 2025 06 19T172004185
Bitcoin vs Gold Annual Returns

Salinas’ Personal Investment Strategy

Salinas, who holds an estimated $5.8 billion fortune, has increasingly allocated a substantial portion of his wealth to Bitcoin. In his recent Bloomberg interview, he revealed that Bitcoin now constitutes around 70% of his liquid portfolio.

This marks a significant increase from his previous holdings in 2020, when Bitcoin made up 60% of his portfolio. In addition to Bitcoin, he maintains a 30% allocation in gold and gold miners.

Salinas emphasized that his personal portfolio is focused solely on Bitcoin and gold-related investments. He has no bonds or stocks other than his own business ventures. 

Bitcoin as a Tool for Personal Freedom

In his book The Bitcoin Enlightenment, Salinas presents Bitcoin not only as an investment but also as a tool for individual freedom. He argues that Bitcoin offers a path to escape government control, inflation, and taxation. According to Salinas, these elements are forms of theft, and Bitcoin provides a way to regain control over personal finances.

He emphasizes that individuals must first embrace personal responsibility and values such as honesty and non-violence. Once these principles are in place, he believes Bitcoin can be the means to achieve true freedom, particularly in an era of increasing government interference.

Citing Bitcoin Dominance, Analyst Says There Will Be No Altcoin Season: Here’s Why

Mark Brennan
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Citing Bitcoin Dominance, Analyst Says There Will Be No Altcoin Season: Here’s Why

As long as the Bitcoin dominance stays above the Bull Market Support Band, there will be no altcoin season, an analyst has suggested.

Bitcoin’s price recently experienced a slight uptick, trading around $104,800 amid a modest increase of about 0.5%. This price movement followed a brief decline to $103,600, which was quickly reversed by bullish action, pushing Bitcoin back toward the $105K mark. 

This price action comes after the U.S. Federal Reserve’s decision to maintain interest rates unchanged. Despite these market shifts, an analyst on X, Luca, emphasized that Bitcoin’s dominance will remain strong.

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A significant technical feature of this chart is the Bull Market Support Band, which consists of two key moving averages: a 20-week simple moving average and a 21-week exponential moving average. The space between these moving averages forms a critical support band, which Bitcoin’s dominance has consistently remained above.

This suggests that Bitcoin is outperforming altcoins, and an altcoin season, or a period when altcoins outperform Bitcoin, appears unlikely in the near term.

BMSB Acting as Support

The Bitcoin Dominance chart illustrates several instances where the BMSB acted as a support level, preventing a fall in dominance.

For example, Bitcoin’s dominance decreased from approximately 56.2% in June 2024 to 54.44% in July of that year, but the BMSB held firm, signaling continued strength for Bitcoin. Similarly, another decline from 59% to 56.61% occurred in late December 2024 into January 2025, but again, the support band kept dominance from falling further.

Most recently, Bitcoin dominance was supported at 61.93% on May 14, down from 65.4% on May 7. It has, however, recovered to 64.9% during this period.

There Will Be No Altcoin Season 

Notably, the Bitcoin Dominance chart also shows a period where the asset’s dominance dipped below the Bull Market Support Band. The instance occurred in early December, when Bitcoin’s dominance dropped to about 54.6%. 

However, this decline was short-lived, as dominance quickly recovered and reached 59% by December 20. While this brief deviation indicated a temporary weakening of Bitcoin’s market position, it was not enough to signal a broader trend toward altcoin dominance.

Luca believes that as long as Bitcoin Dominance remains above its Bull Market Support Band, an altcoin season will not occur.

Luca also shared a separate 12-hour chart, stating that as long as Bitcoin’s dominance continues to hold its Bull Market Support Band, there are no risks of the current movement being a distribution range for BTC.

Analyst Views on Future Bitcoin Dominance and Altcoin Trends

Other analysts have weighed in on Bitcoin dominance, presenting differing views on its future trajectory. Bitcoinsensus suggests that the dominance could “fall off a cliff” soon, though a slight dip may occur before a potential altcoin season. 

The analyst highlights that Bitcoin’s dominance has been on an uptrend for over four years and may continue to rise, possibly reaching 70% before collapsing to usher in the altcoin season. 

Meanwhile, Dariusz Kowalczyk points out that Bitcoin’s dominance is showing signs of a potential double top pattern. If Bitcoin fails to break through resistance, altcoins could see a capital rotation. However, if dominance surpasses resistance, Bitcoin may be on track for a new all-time high.

No Mention of Dogecoin as Elon Musk’s X to Offer Investment and Trading Features

Lele Jima
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No Mention of Dogecoin as Elon Musk’s X to Offer Investment and Trading Features

Elon Musk’s social media platform X is set to roll out new trading and investment functionalities.

This move seeks to make the platform a one-stop financial services and social networking shop. Linda Yaccarino, the CEO of X, revealed the development during an interview with The Financial Times today.

She suggested that users can utilize X for their everyday financial transactions, including paying for goods and services, as well as investing in certain assets. 

No Dogecoin? 

Notably, Yaccarino did not mention the names of financial assets users can invest in via the social media platform. Speculation suggests that Musk might integrate his favorite meme coin, Dogecoin, into the new service. 

However, Yaccarino did not confirm whether users can trade or invest in Dogecoin once the service goes live. 

“You can transact your financial life on X. With this initiative, you can reimburse a friend for the pizza you both shared the previous night and invest or trade [certain financial instruments],” Yaccarino remarked. 

X Money and X Payment Card to Launch Soon 

In addition to the investment functionality, Yaccarino revealed that the team is exploring the potential launch of an X credit or debit card later this year. 

These initiatives align with Musk’s vision to transform the social media platform into a “Super App,” mirroring China’s WeChat, which allows users to send messages, make payments, and shop. 

Recall that Musk and his team have been working behind the scenes to bring the Super App vision to reality. As part of this effort, X partnered with Visa last month and confirmed the upcoming launch of X Money, a digital wallet and peer-to-peer (P2P) payment service. 

During the Financial Times interview, Yaccarino stated that the X Money service will make its initial debut in the United States before undergoing a full-scale global expansion. 

According to Yaccarino, X users can leverage X Money to store digital assets, purchase merchandise, and tip content creators. She emphasized that X will soon host fully integrated commerce and financial ecosystems.

Meanwhile, the Financial Times indicated that X could be subject to stringent regulatory requirements. These include compliance with anti-money laundering (AML) rules, as it moves to integrate commerce and financial services into its social media platform. 

Yaccarino Addresses X’s Advertising Tension 

Furthermore, Yaccarino addressed the advertising tensions on X. Many advertisers have moved away from X to other social media platforms since Musk’s $44 billion acquisition in 2022.

In the interview, she refuted a recent Wall Street Journal report about X threatening to sue brands for not advertising on the platform. 

The CEO claimed that 96% of brands advertising on the platform before Musk’s takeover are back. As a result, she asserted that the platform’s ad revenue will soon revisit its 2022 level. 

Donald Trump’s Family Quietly Reduces Shares in World Liberty Financial from 60% to 40%: Report

Mark Brennan
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Donald Trump’s Family Quietly Reduces Shares in World Liberty Financial from 60% to 40%: Report

The Trump family may be selling some of its stake in the core crypto venture World Liberty Financial, as a recent report highlights a considerable share drop.

It is no longer news that the Trump family holds a majority share in World Liberty Financial, a decentralized finance business teased to upset the traditional financial giants. The family initially held up to 75% of the WLF Hodco LLC, the parent company of the crypto venture.

Specifically, the family claims the shares of World Liberty Financial under DT Marks DeFi LLC, formerly DT Tower II LLC. Recall that the firm, created in 2016, was 100% owned by Donald Trump before his sons sold 30% of it recently.

Donald Trump Quietly Selling Shares of WLFI

A Forbes report published today shows that Trump, or someone on his behalf, may have been selling his shares in the World Liberty Financial. The piece cited an unannounced reduction as disclosed on the project’s website as proof of the possible liquidation.

For context, Trump’s DT Marks DeFi LLC held 75% of the WLFI project at the end of 2024, according to a recent financial disclosure. Remarkably, the recently published statement also noted that the US president made $57 million from the DeFi venture through revenue from token sales in 2024 alone.

Meanwhile, things have changed since then. At first, the WLFI website showed on January 24 that the Trump family now owns “approximately 60%” of the company, down from the 75% mentioned earlier.

Interestingly, this aligned with an uptick in WLFI token sales prior to the inauguration, with the project selling over $200 million in 29 hours before January 20. Moreover, Forbes noted that, although unofficial reports emerged that Trump plans to sell a partial stake in some of their companies, it did not specifically mention that it was in the WLFI venture.

Trump Sells Another 20% in the Past 11 Days

Furthermore, the Thursday Forbes report revealed that the Trump family has sold an additional 20% of its shares in World Liberty Financial. Citing changes in the WLFI website, it highlighted that DT Marks DeFi LLC has further reduced its shares from approximately 60% to 40% in the past 11 days.

Screenshot from the WLFI Website
Screenshot from the WLFI Website

While the percentage drop does not show the actual realized amount in dollars, the Forbes report drew context from Circle’s recent stock rally after its initial public offering (IPO). The news outlet stressed that if World Liberty Financial has a similar valuation to Circle, the Trump family may have cleared $190 million, with approximately $135 million (70%) going to the President.

Recall that World Liberty Financial has entered the stablecoin market with the launch of the dollar-pegged USD1 token. The cryptocurrency quickly gained traction as a firm backed by the Abu Dhabi government invested $2 billion into the stablecoin.

Keiser Says Only Bitcoin Matters, Slams US Politicians Over Involvement in “Shitcoins”

Sam Wisdom Raphael
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Keiser Says Only Bitcoin Matters, Slams US Politicians Over Involvement in “Shitcoins”

Max Keiser, a notable Bitcoin advocate, rebuked U.S. political leaders for promoting what he considers harmful crypto assets. 

In an X post today, Keiser, who serves as adviser to El Salvador’s President Nayib Bukele on Bitcoin matters, shared an image of Bitcoin’s Proof-of-Work mining infrastructure alongside flag-draped military coffins, which he captioned as “Proof of War.” 

Bitcoin Maxi Keiser Slams US Politicians 

Specifically, he used the image to argue that American politicians have sacrificed integrity and national security in favor of opportunistic businesses related to crypto assets besides Bitcoin, or “shitcoins,” as he described them.

Keiser asserted that if U.S. lawmakers concentrated exclusively on Bitcoin rather than supporting a broad range of unstable tokens, the country might avoid “the image on the right,” referring to the war casualties.

Max Keiser on X
Max Keiser on X

The Bitcoin maximalist warned that prioritizing quick profits through “shitcoins” trades human lives for short-term gain. However, it remains unclear if he meant this literally or if the second image was merely a metaphor for some other form of damage.

Coincidentally, Keiser’s recent remarks align with a moment of rising tension, as the U.S. faces pressure during the ongoing Israel-Iran war. As a close ally of Israel, the U.S. now draws increasing attention from geopolitical analysts, who question whether it will take direct action in the conflict.

Trump’s Crypto Involvements

Also, the comments land amid a wave of crypto-related controversies surrounding President Donald Trump and his family. Since his re-election in November 2024, Trump has doubled down on digital assets through policy and business involvement. 

One of the most notable endeavors is the World Liberty Financial (WLF) DeFi platform, which launched in October 2024. Dubbed a decentralized alternative to traditional finance, WLF designates Trump as its “Chief Crypto Advocate.” 

His sons Eric, Donald Jr., and Barron serve as Web3 ambassadors. The platform raised $550 million by March 2025 through its governance token, WLFI, and surpassed $1 billion in total sales by January 20.

Notably, a Delaware-based entity tied to the Trump family holds more than 22 billion WLFI tokens, valued at launch around $337.5 million. The same entity also receives the majority of protocol revenue. In March 2025, WLF also introduced a stablecoin, USD1.

Controversies have followed these developments. Critics, including Senator Elizabeth Warren and legal experts, argue that Trump’s roles as president and crypto entrepreneur raise red flags about conflicts of interest. 

The TRUMP Memecoin and Other Involvements

Meanwhile, Trump’s crypto portfolio expanded further in January 2025 with the launch of the $TRUMP meme coin. The coin’s value skyrocketed and later crashed, leaving over 800,000 wallets with losses exceeding $2 billion, while Trump-affiliated entities reportedly earned $100 million in trading fees. 

On May 22, Trump hosted an exclusive dinner for top $TRUMP holders, an event some lawmakers described as veiled political fundraising.

First Lady Melania Trump followed suit by launching her own token, $MELANIA, on Jan. 19. It quickly surpassed $1 billion in market cap, although it too faced criticism for being speculative and lacking utility.

Despite these involvements, Trump has made official moves to support Bitcoin directly. In March, he signed an executive order establishing a U.S. Strategic Bitcoin Reserve, although Bitcoin maxis criticized the President for also creating an altcoin stockpile.

His sons also announced a family investment in American Bitcoin, a mining venture where Eric Trump serves as Chief Strategy Officer. Trump’s media company, TMTG, recently disclosed plans to invest $2.5 billion in Bitcoin.

Here’s How XRP Can Go from Here to $6.70, $13, and $27

Abdulkarim Abdulwahab
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Here’s How XRP Can Go from Here to $6.70, $13, and $27

A new technical outlook from crypto analyst EGRAG is turning heads in the XRP community.

He cited key moving average setups that hint at a potential breakout, which could send XRP as high as $27. The chart analysis focuses on past market cycles and a specific moving average cross that has historically separated explosive bull runs from painful bear traps.

The Setup

Specifically, the relationship between the 21-week EMA and the 33-week SMA is at the core of the analysis. According to the chart, previous bull runs for XRP started when the 21 EMA stayed above the 33 SMA. He highlighted this setup with a white circle on the accompanying chart.

Conversely, a red circle forms when the 21 EMA crosses below the 33 SMA. A short rally often follows this, then a full rejection, starting a deeper bear phase. 

This trend, where moving average setups define XRP’s movement, was consistent in the 2017/2018 and 2020/2021 market cycles.

Currently, XRP is approaching another such cross, with the 21 EMA and 33 SMA set to interact around late September 2025. Whether this next cross turns out to be red or white may determine the entire trajectory of XRP’s third major cycle.

Watching for Potential XRP Reaction Based on History

Notably, the chart highlights three distinct XRP cycles. In Cycle 1, XRP surged massively when the bullish white cross occurred. In particular, this setup defined XRP’s legendary 2017 breakout. For most of XRP’s rally from $0.0055 to $3.84, the 21 EMA remained above the 33 SMA.

The breakout run happened in two phases. The first was the initial breakout that reversed a longstanding downtrend, followed by a brief correction before the final leg up for that cycle emerged. XRP delivered an approximately 750x surge by the end of the full cycle.

Meanwhile, Cycle 2, per EGRAG’s chart, featured a red cross and a subsequent rejection that sent XRP back into consolidation. Notably, XRP performed relatively well when the 21 EMA was above the 33 SMA on the weekly time frame. However, it only delivered an 8x return compared to the previous cycle. This relative underperformance was due to the bearish cross of the moving averages.

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XRP Weekly chart by EGRAG

Cycle 3 is now underway, with the early stages already echoing the beginnings of previous bull phases. In the current cycle, XRP has experienced the initial phase of its multi-year breakout, with its trading range shifting significantly from the $0.50 region to the current $2 range. 

Many are now anticipating further progress, which the next moving average cross may help define. Notably, EGRAG leans more toward the bullish side, pointing out that the bearish cross has only occurred once.

Price Projections: $6.70, $13, or $27

According to EGRAG, if XRP price repeats its previous 1,200% rally, it could soar from its current $2.24 level to nearly $27. A 600% gain from here would place it around $13, while a more modest 300% gain would take it to $6.70.

These projections represent moderate to ambitious outlooks for XRP based on similar historical technical setups. The idea is that if the bullish structure holds, XRP could finally deliver a new peak for XRP after almost eight years.

One Last Leg But With Caution

Meanwhile, the analyst suggests that XRP may have just one final leg up before the main bear market begins. As a result, the next parabolic move could be fast, intense, and short-lived. 

He noted that such a surge could hype up retail sentiment, with many believing there will be no further downtrend. However, he urged caution, warning that fast rallies often lure in emotional buyers at the top, only to trap them for the next long-haul bear season.

Here’s Why XRP Is About to Break the Tension Soon

Sam Wisdom Raphael
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Here’s Why XRP Is About to Break the Tension Soon

According to a prominent analyst, XRP is approaching an important moment as major signals converge to indicate a possible breakout. 

Specifically, amid XRP’s current price struggles at the lower end of the $2 price region, the 1-day chart shared by analyst Dark Defender shows XRP forming a tight squeeze at the intersection of multiple important indicators. 

XRP Sees a Confluence of Major Indicators

These include a descending resistance trendline, Fibonacci retracement levels, the Ichimoku Cloud, a cup pattern, and clustered Exponential Moving Averages (EMAs). All these elements are moving to a high-confluence zone that could trigger a major price move in the days ahead.

The chart begins in January 2025 when XRP reached a local peak of $3.4 and retraced. Following that high, XRP entered a downward trajectory that continued until April, creating the base of a cup formation at a low of $1.61 on April 7.

This cup has been developing for months, gradually arching upward, and now XRP trades near the cup’s rim. Notably, the rim is the area often referred to as the surface of the pattern. This surface aligns with major resistance and is where several other important indicators now converge.

XRP 1D Chart Dark Defender
XRP 1D Chart | Dark Defender

Another prominent indicator is the descending trendline, which began after the January peak. Importantly, this line has capped multiple price rallies and still acts as a ceiling to upward movement. At the time of reporting, XRP has returned to this resistance level, but this time, it does so while supported by other bullish patterns. 

XRP Ichimoku Cloud, EMAs, and Fib Retracements

Another indicator is the Ichimoku Cloud, which dominates a portion of the chart from February through June. Right now, the price is trading inside the cloud. Typically, being inside the cloud suggests indecision, with neither bulls nor bears holding control. 

However, the cloud in this case is very thin around the current price, which often signals an imminent breakout. Thin clouds provide little resistance or support, making them ideal zones for swift moves once the price escapes either side. As XRP tests this area, the Ichimoku structure bolsters the overall tension.

Meanwhile, adding to the pressure is the tight clustering of EMAs. Several EMAs are nearly overlapping in the current range. Notably, such compression often precedes sharp price volatility, as the market coils before releasing energy in one direction.

In addition, Dark Defender referenced the Fibonacci retracement levels measured from the January high. Currently trading for $2.16, XRP sits below the 61.8% retracement at $2.1958 and the 70.2% level at $2.2895. Just below its current price position lies the 50% retracement at $2.0706, which acts as a strong support level. 

The confluence of all these signals – the descending resistance line, the narrow Ichimoku Cloud, the Fibonacci levels, the cup pattern structure, and the tight EMA bands – translates to an imminent release of tension, and Dark Defender expects this to occur soon.

Specifically, the market analyst identified immediate targets at $2.22 and $3.61, while pointing to $2.0706 as a key support. He suggested that the cup is now “hot,” and market participants should prepare themselves for a decision soon. At its current price, XRP must rise 67% to claim $3.61.

Here’s Price of 1 Shiba Inu if SHIB Matches Elon Musk’s Net Worth

Lele Jima
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Here’s Price of 1 Shiba Inu if SHIB Matches Elon Musk’s Net Worth

The possibility of Shiba Inu (SHIB) equaling Elon Musk’s net worth would significantly impact its price and standing in the broader crypto market.

Tesla CEO and founder Elon Musk has remained a prominent figure in the crypto industry due to his vocal support for Bitcoin and Dogecoin.

He propelled DOGE to an all-time high in 2021 following his endorsement of the token. His social media posts have also sparked major rallies for Floki, a meme coin named after his dog. 

Musk Ignores Shiba Inu in Promotional Tactics 

Despite his love for memes, Musk has continued to ignore Shiba Inu, the second-biggest meme coin in the market. This remains true despite multiple efforts by Shiba Inu community members, including lead developer Shytoshi Kusama, to capture his attention.

Last year, Kusama urged Musk to consider his Strategic Hub for Innovation in Blockchain (S.H.I.B) proposal for potential adoption by President Donald Trump. He also captioned Musk’s storm-tossed dog image with “SHIB” in an attempt to attract visibility.

While Musk has ignored these efforts, the Shiba Inu community continues to seek his endorsement, believing it could significantly boost SHIB’s price. 

Elon Musk’s Wealth 

As the Shiba Inu community pushes for Musk’s backing, we explored how high SHIB’s price could go if it matched the billionaire’s net worth.

Musk, a wealthy entrepreneur, has co-founded several companies, including Tesla and SpaceX. His investment also extends to the social media arena following his acquisition of Twitter (now X) in 2022. 

Even though Musk lost nearly $40 billion due to a feud with the U.S. President earlier this month, he remained the world’s wealthiest man. At the time of writing, Forbes estimates his net worth at $409 billion.

Elon Musk Net Worth l Forbes
Elon Musk Net Worth | Forbes

Shiba Inu Price If It Matches Musk’s Net Worth 

Elon Musk’s estimated net worth is about 60 times larger than Shiba Inu’s current market capitalization, which stands at $6.84 billion. SHIB is trading at $0.00001161 per token, having dropped 8.99% over the past week. It ranks as the 19th-largest cryptocurrency by market cap, trailing Toncoin, Avalanche, and Stellar.

Interestingly, a speculative valuation of $409 billion would not only catapult Shiba Inu’s price to new highs but could also position it as the second-largest cryptocurrency, assuming other market caps remain stable.

Specifically, if Shiba Inu were to match Elon Musk’s $409 billion net worth, each SHIB token would be valued at approximately $0.0006941, representing a 5,879% increase from its current price.

This estimate is based on dividing Musk’s net worth by SHIB’s circulating supply of about 589.25 trillion tokens. 

Can SHIB Hit $0.0006941? 

Despite the ambitious nature of this analysis, some crypto experts believe the $0.0006 price mark is within the realm of possibility for SHIB. 

Last year, popular community figure Davie Satoshi asserted that Shiba Inu’s price will ‘never crash to zero.’ Instead, he predicted that SHIB’s price would soar 30x to $0.0006753 by the end of this year. 

Meanwhile, crypto exchange platform Changelly suggested SHIB could reach $0.0006 by 2034. It expects the $0.00069 mark as early as September of that year.

Additionally, prediction platform Telegaon estimates SHIB will reach the $0.0006 milestone by 2030, with an average price of $0.000646 projected for that year.

Caution

Notably, this article is for educational purposes only and should not be considered investment advice. It aims to illustrate how Shiba Inu’s price could react if it were to match Elon Musk’s net worth.

While many experts see the $0.00069 target as theoretically achievable, SHIB reaching this level is not guaranteed due to the volatile nature of the cryptocurrency market.

VeChain Struggles at $0.020: Will Bears Push It to $0.017?

Mark Brennan
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VeChain Struggles at $0.020: Will Bears Push It to $0.017?

VeChain (VET) is holding near the $0.020 level amid bearish pressure. Will it break below $0.017 or bounce back toward $0.031?

With a minor pullback among top cryptocurrencies, VeChain is holding its ground at the $0.020 psychological mark. Struggling within a falling channel, it risks a potential drop to crucial support at $0.017.

VET Price Analysis

On the daily chart, VeChain’s price trend reflects a decline forming a falling channel pattern as it reverses from the 38.20% Fibonacci level at $0.031. The declining bullish momentum has fueled a 40% drop in VeChain’s value in just over the past month.

At present, VeChain trades at approximately $0.02099 after facing rejection from its 24-hour high of $0.02210. This has resulted in a long wick formation on the intraday candle, signaling a potential downtrend.

VeChain Price Chart
VeChain Price Chart

Supporting the bearish outlook, the MACD and signal lines are trending downward within negative territory. Additionally, the daily RSI hovers between the oversold boundary and the midpoint, maintaining a bearish bias. Hence, momentum indicators project a bearish view for VeChain.

Fibonacci levels suggest the immediate price target is $0.017, based on the year-to-date low recorded on April 7. However, a potential reversal leading to a channel breakout could retest the 38.20% Fibonacci level at $0.031 if the price exceeds the $0.024 resistance level.

VeChain Derivatives

As VeChain clings to psychological support, the derivatives market remains quiet, with traders mostly on the sidelines. CoinGlass data shows VET open interest has seen marginal growth of 0.04%, reaching $62.36 million.

However, liquidation data reveal a wipeout of bullish traders worth $76,390 in long liquidations. In contrast, short liquidations were just $2,000, indicating that most wiped-out positions were bullish. This has lowered the long-to-short ratio to 0.9459 over the past 24 hours, indicating that active bearish positions outnumber long positions.

VET Derivatives Data
VET Derivatives Data

BNB Faces Critical Test at $637: Is a Dip to $600 Imminent?

Mark Brennan
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BNB Faces Critical Test at $637: Is a Dip to $600 Imminent?

Binance Coin (BNB) hovers above the $637 support level amid growing bearish pressure. Can it bounce back, or is a dip to $600 inevitable?

Amid broader market uncertainty, BNB maintains a declining trend, risking a potential breakdown of this crucial support level. Will such a breakdown push Binance Coin’s price down to the $600 psychological support?

Binance Coin Price Analysis

On the daily chart, Binance Coin trades sideways just above the $637 support level. However, price action shows high volatility, with consolidation topping near $698.

At present, Binance Coin trades at $644, with a third potential bearish candle forming. As the downward trend gains momentum amid broader market uncertainty, the risk of breaking below the $637 support level increases.

Binance Coin price chart
Binance Coin price chart

Supporting this downside risk, momentum indicators signal a surge in selling pressure. The MACD and signal lines have plunged into negative territory. Furthermore, the daily RSI is below the midpoint, reflecting weakening bullish momentum.

As the chances of a decline increase, price action suggests the $600 psychological level as the next crucial support. However, a potential bounce-back remains possible, as indicated by the long wicks—represented by long-tailed candles—forming near the support level, though this support appears fragile.

A potential reversal in Binance Coin could test the monthly high at $673.

BNB Derivatives Signal Increased Fear

The derivatives market presents mixed signals as Binance Coin stands at a crossroads. Open interest is down 0.95%, reaching $734 million. Long liquidations have surged to $168K in the past 24 hours. This represents a significant wipeout of bullish traders compared to short liquidations of just $21,800.

Due to the larger wipeout of bullish traders, the long-to-short ratio at 0.9627 indicates more active bearish positions. Trader activity has taken a bearish turn, as the overweight funding rate drops to -0.0093%.

BNB Derivatives
BNB Derivatives
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