&w=3840&q=100)
Bitcoin steady at $108k as market awaits move; Ethereum eyes $3,000
The bellwether currency was quoted trading at around $108,810.13, lower by 0.21 per cent at 11:40 AM on Wednesday, May 28. The world's most popular cryptocurrency had a 24-hour trading volume of $52.64 billion. Bitcoin's market capitalisation stood at $2.16 trillion, the highest among all cryptocurrencies. The last 24-hour trading range for Bitcoin was between $108,445.43 and $110,744.21, according to data from CoinMarketCap.
Bitcoin, Edul Patel, Co-founder and CEO of Mudrex, said, is currently in a re-accumulation phase, where steady buying interest is helping maintain bullish momentum. "Market sentiment was further boosted by US President Donald Trump's media company announcing plans to raise $2.5 billion to establish a Bitcoin treasury."
Calling Bitcoin's consolidation healthy, Vikram Subburaj, CEO, Giottus Crypto Platform, said that, "As long as BTC holds above the weekly open near $109,000, the path to a renewed breakout above $110,000 is likely." A brief dip into the $106,000–$108,000 zone, Subburaj believes, would fall within normal volatility.
Ethereum faces resistance at $2,750
Ethereum (ETH), on the other hand, touched the $2,700 mark briefly but failed to hold. Last seen, it was quoted trading at $2,629.79, up 0.92 per cent, with a trading volume of $24.32 billion. It has fluctuated in the range of $2,566.49–$2,712.29 in the last 24 hours.
Ethereum's market cap stood at $317.5 billion, making it the second-largest cryptocurrency by market capitalisation.
Despite the dip, Harish Vatnani, head of trade, ZebPay, said, the Relative Strength Index (RSI) remains at 64—comfortably below the overbought threshold of 70—suggesting there's still room for bullish momentum if buyers regain control. "However, caution is warranted, as the MACD flashed a bearish crossover on Friday, signalling potential short-term weakness and a possible continuation of the downward move. Traders will likely keep a close eye on these technical levels for confirmation of the next trend direction," said Vatnani.
ETH is facing strong resistance at $2,750. If it breaks and closes above this level with good volumes, then Vatnani expects the price to further rally up to $3,000 and $3,350.
Altcoins trade mixed
Among other popular altcoins, Binance Coin (BNB) was trading higher by 0.69 per cent, while Cardano (ADA) was trading lower by 1.9 per cent, Ripple (XRP) was trading lower by 0.56 per cent, and Solana (SOL) lower by 0.33 per cent.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
18 minutes ago
- Time of India
America's debt time bomb: Markets could crash before 2026 midterm elections, says ex-IMF official!
The United States may be in line for a severe financial reckoning before the 2026 midterm elections. Desmond Lachman , a former deputy director at the International Monetary Fund, warned that the world is losing trust in the US dollar, and the United States could suffer a financial crisis next year, as reported by Fortune. Why is market trust in the US fading? In a new opinion piece for Project Syndicate, Lachman describes how a mix of rising debt, political turmoil, and declining confidence in US institutions are spooking markets and driving the dollar to record lows, as per the report. In Lachman's view, even before the start of US president Donald Trump's second term, the fiscal health of the nation was already beginning to show the pressure, according to Fortune. But matters have taken a very rapid turn as the sweeping new tax cuts recently signed into law are set to pile trillions onto the national deficit, as per the Fortune report. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like This Could Be the Best Time to Trade Gold in 5 Years IC Markets Learn More Undo ALSO READ: Bitcoin hits $121,000 - Rich Dad Poor Dad author Robert Kiyosaki urges newcomers: Reflect before it's too late What's driving concerns about a crisis? At the same time, Trump's hard-hitting tariffs and repeated pressure on the Federal Reserve to cut interest rates are fuelling inflationary fears and further rattling world confidence in the US economy, according to the report. He also pointed out that, 'Add to that Trump's apparent disregard for the rule of law, and markets see little reason to trust the US,' as quoted in the Fortune report. Live Events How is the US dollar performing? According to him, this could be the reason that the US dollar fell 10% against other top global currencies in the first half of the year, marking the greenback's worst such performance since 1953, as reported by Fortune. ALSO READ: Air taxi revolution? Joby Aviation doubles output, investors react fast, stock skyrockets 7% What's gold telling us about investor confidence? Lachman pointed out that gold increasing 25% this year is another sign of collapsing market confidence in the United States, as are Treasury yields remaining elevated despite market turbulence, according to the report. Can Donald Trump pressure markets like he does politicians? He said that, 'The problem for Trump is that, unlike politicians, markets cannot be pressured or primaried,' while referring to the threat of ousting disobedient lawmakers via primary elections, as reported by Fortune. Lachman added that, 'If he refuses to heed investors' warnings, as seems likely, the US should brace for a dollar and bond-market crisis in the run-up to next year's midterm elections. The days of the world letting America live beyond its means are rapidly coming to an end,' as quoted in the report. Are others echoing these concerns? While the fixed income portfolio manager at Capital Group, John Queen, recently wrote in a client note that, 'Many people have predicted that catastrophe is right around the corner and, someday, one of them is going to be right,' as quoted by Fortune. Queen added that, 'Unfortunately, they are just guessing, so I am not going to predict that. I am instead going to say that I think the market is good at pricing in those concerns,' as quoted in the report. FAQs Is the US heading toward a financial crisis? It's possible, according to former IMF official Desmond Lachman, especially if current economic trends continue unchecked. Why is the US dollar losing value? Lachman says it's due to rising debt, inflation fears, and eroding trust in political and financial leadership, as per the Fortune report.
Time of India
an hour ago
- Time of India
Bitcoin hits $121,000 - Rich Dad Poor Dad author Robert Kiyosaki urges newcomers: Reflect before it's too late
Bitcoin broke through $121,000 on July 14, a new all-time high, which led personal finance writer Robert Kiyosaki to highlight that it's great news for Bitcoin investors but also a wake-up call for those who do not own the cryptocurrency yet, as per a report. What does Bitcoin's latest price surge mean for investors? Kiyosaki, author of the best-selling book 'Rich Dad Poor Dad,' took to post on social media X with a message not only for crypto veterans but also for those who are still sitting on the sidelines, his tone was triumphant but also warning, according to The Street. He wrote in an X post that, "Great news for those who already have some Bitcoin. Bad news for who… for whatever reason… never 'pulled the trigger'. They own nothing. As warned in previous X…Pigs get fat…. Hogs get slaughtered," as quoted in the report. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Avance em sua carreira jurídica Thomson Reuters Saiba Mais Undo ALSO READ: Air taxi revolution? Joby Aviation doubles output, investors react fast, stock skyrockets 7% Is Robert Kiyosaki still buying Bitcoin? Even though he disclosed he had just bought another Bitcoin, Kiyosaki indicated that he is waiting on more purchases as the direction of the overall economy becomes more apparent, as reported by The Street. Live Events What advice is Kiyosaki offering new crypto investors? Kiyosaki cautioned against being greedy but urged newcomers to get into crypto, even with just a small percentage of a coin, according to the report. He warned that, "As tempting as Bitcoin going to $200k to $1 Million is….I do want to be a HOG and get slaughtered….If you have not begun acquiring BITCOIN….I suggest starting very small… starting with a Satoshi," as quoted by The Street in its report. Satoshi refers to the smallest denomination of Bitcoin, as per the report. He also went on to speculate on the actions of billionaire investor Warren Buffett, observing that Buffett's $350 billion pile means that he has been waiting for a crash to pick up some quality assets, as reported by The Street. ALSO READ: Nio crashes 21% in 2025 — what's dragging down the EV darling? Here's what you need to know Is this a warning or an opportunity? The author ended his social media post with a harsh warning but also with a glimmer of hope, saying, "Millions are about to become poorer," but he also offered hope, saying those who are smart, patient, and alert could emerge much richer, as reported by The Street. While, even previously, Kiyosaki has warned that if Bitcoin ultimately rises to $1 million per coin, many people will regret never having bought at the current price, and if all they could have purchased was a single satoshi, the feeling would be the same: "You will be saying, 'I wish I had bought more,'" as quoteed in the report. FAQs I've never bought Bitcoin. Is it too late now? Not according to Kiyosaki. He suggests it's not too late, and recommends starting with a very small amount, even just a satoshi. Why is Kiyosaki cautious even though he believes Bitcoin will go up? He's worried about being greedy during volatile times and is waiting for more clarity in the economy before buying more, as per The Street report.
Time of India
4 hours ago
- Time of India
Who is Satoshi Nakamoto, and how has he joined the list of the world's richest
While tech tycoons often dominate the spotlight, there's one name that quietly rises above, without ever being seen. Satoshi Nakamoto, the mysterious creator of Bitcoin , has now become one of the wealthiest people on the planet. According to crypto analytics firm Arkham, Nakamoto's wealth has touched $128.92 billion (about ₹10.78 lakh crore), placing them at number 11 in global rankings. Richer than Dell– but still a mystery Arkham's latest data shows Nakamoto holds around 1.096 million BTC. Based on today's prices, that pushes their net worth ahead of Michael Dell, who, according to Forbes, is worth $124.8 billion. But despite the staggering numbers, Nakamoto's identity remains a complete mystery– no one knows who it is, or whether it's a single person or a team. Theories, denials, and one court verdict Since Bitcoin's launch, plenty of names have popped up– Hal Finney, Nick Szabo, Elon Musk, and Jack Dorsey– but each one has denied any link to Bitcoin's creation, according to a report by the Times of India. According to the report, Australian computer scientist Craig Wright made the boldest claim, publicly declaring himself as Nakamoto. But in 2024, the UK High Court threw out his claims. He was found guilty of making false statements and what the court described as 'legal terrorism.' by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like The Top 25 Most Beautiful Women In The World Articles Vally Undo Wright was given a 12-month suspended sentence and banned from ever calling himself Bitcoin's creator again. Nakamoto disappeared in 2011, but theories haven't Until 2011, Nakamoto was regularly active online, mainly through forums and emails. After that, all communication stopped. The New York Post noted that Nakamoto once claimed to be a 37-year-old man from Japan. But the timing of his posts aligned more with UK daytime hours, adding to the ongoing speculation. Quiet genius, not spotlight seeker As per the Times of India report, though Nakamoto stayed away from fame, his work did the talking. His code, especially in C++, has often been described as highly advanced. In The Mysterious Mr. Nakamoto: A Fifteen-Year Quest to Unmask the Secret Genius Behind Crypto, journalist Benjamin Wallace wrote that Nakamoto was 'an elusive figure who might or might not exist,' as quoted by the New York Post. From obscure code to one of the world's most valuable assets What started as a small project among developers and cypherpunks grew into one of the most valuable assets in the world. By 2022, Bitcoin ranked ninth globally– just behind Tesla and ahead of Meta, as per reports. A statue without a face In Budapest's Graphisoft Park, a statue now stands in honor of Nakamoto. Made by Gergely Réka and Tamás Gilly, the bronze figure wears a hood and has a reflective aluminum-bronze face. According to StatueOfSatoshi(dot)com: 'The statue represents a general human figure, since we do not know the gender, race, age, or height of the mysterious developer.' Anyone who stands in front of it sees their own reflection– fittingly capturing the message, 'We Are All Satoshi.'
