Market analyst says Ethereum is having an “iPhone moment” as it approaches the ERC-8004 mainnet launch.
BitcoinWorld Bitcoin Soars: Remarkable Rally Propels BTC Above $71,000 Milestone In a significant development for digital asset markets, Bitcoin has convincingly broken through the $71,000 barrier. According to real-time data from Bitcoin World market monitoring, the premier cryptocurrency reached a price of $71,009.99 on the Binance USDT trading pair. This surge represents a pivotal moment, potentially signaling renewed institutional confidence and shifting macroeconomic tailwinds for the broader crypto ecosystem. Consequently, analysts are scrutinizing the momentum’s sustainability and underlying catalysts. Bitcoin Price Breaches a Critical Psychological Level The ascent past $71,000 marks Bitcoin’s highest valuation in recent weeks. This movement is not an isolated event but part of a broader recovery narrative. Market data reveals consistent buying pressure across major exchanges, with Binance, Coinbase, and Kraken all reporting elevated volumes. Historically, such breaks above round-number resistances often trigger further algorithmic and retail buying. Moreover, the timing coincides with key macroeconomic data releases, suggesting a complex interplay of factors. Several technical indicators now flash bullish signals. For instance, the Bitcoin price has moved decisively above its 50-day and 200-day moving averages. This golden cross configuration traditionally suggests strengthening intermediate-term momentum. Additionally, trading volume has increased by approximately 35% compared to the weekly average, confirming the move’s conviction. Market depth on order books also shows robust support forming near the $69,000 level, potentially establishing a new floor. Contextualizing the Current Crypto Rally This rally occurs within a specific financial landscape. Firstly, recent statements from the U.S. Federal Reserve have hinted at a potential pause in interest rate hikes. Such a policy shift typically weakens the U.S. dollar, making scarce assets like Bitcoin more attractive. Secondly, the final approval phase for U.S. spot Bitcoin ETFs continues to funnel institutional capital into the market. These funds have accumulated substantial BTC holdings, directly reducing available supply on open markets. Furthermore, the upcoming Bitcoin halving event, projected for April 2024, casts a long shadow. This pre-programmed reduction in miner block rewards will cut new Bitcoin supply in half. Historically, halving events have preceded major bull markets, as seen in 2012, 2016, and 2020. Investors appear to be positioning themselves ahead of this supply shock, creating sustained demand pressure. Analyzing the Drivers Behind the Surge Multiple converging factors are fueling Bitcoin’s impressive climb. A primary driver is the sustained institutional adoption narrative. Major asset managers now publicly advocate for Bitcoin as a digital gold and inflation hedge. Corporate treasury allocations, though slower than in 2021, continue to trickle in. Simultaneously, regulatory clarity in jurisdictions like the European Union, with its MiCA framework, provides a more stable operating environment for crypto businesses. On-chain data provides compelling evidence of accumulation. The number of Bitcoin addresses holding 1,000 BTC or more, often called “whales,” has remained stable. However, addresses holding between 10 and 100 BTC have grown significantly. This trend suggests accumulation by high-net-worth individuals and smaller institutions. The Net Unrealized Profit/Loss (NUPL) metric, which tracks overall investor profit, has also moved into a positive but not euphoric zone, indicating room for growth before a major market top. Macroeconomic Factors: Weakening dollar index (DXY), shifting Fed policy expectations. Institutional Flows: Consistent inflows into spot and futures-based Bitcoin investment products. Technical Breakout: Overcoming key resistance levels, triggering automated buy orders. On-Chain Strength: High network security (hash rate), low exchange balances indicating holding behavior. Comparative Market Performance and Impact Bitcoin’s dominance rate, its market share relative to the entire crypto market, has also edged higher during this move. This suggests the rally is being led by Bitcoin rather than altcoins, a pattern typical of early-stage bull markets. The performance of other major assets provides context: Asset 24h Performance Key Note Bitcoin (BTC) +5.2% Leader, broke $71k resistance Ethereum (ETH) +3.8% Following BTC’s lead Binance Coin (BNB) +2.1% Exchange token, correlated move Gold (XAU) -0.3% Traditional safe-haven under pressure The rally’s impact extends beyond price charts. Mining profitability has increased, incentivizing greater network security. Developer activity on Bitcoin’s Layer 2 networks, like the Lightning Network, also remains high. This indicates long-term building continues irrespective of short-term price action. Furthermore, global search interest for “Bitcoin” and “crypto” has spiked, reflecting renewed public attention. Expert Perspectives on Sustainability and Risks Market analysts offer measured perspectives on the rally’s longevity. Many cite the importance of the $71,000 level as a support-turned-resistance-turned-support zone. A sustained hold above this price for several weekly closes would be a strongly bullish technical signal. However, experts also caution about volatility. The crypto market remains susceptible to sudden shifts in global risk sentiment, regulatory news, or liquidity events on leveraged trading platforms. Risk factors are ever-present. Regulatory scrutiny, particularly in the United States, remains a headwind. Potential sell pressure from large holders, such as government-seized Bitcoin or assets from bankrupt estates, could temporarily impact price. Additionally, traditional market corrections could spur a “risk-off” environment where all speculative assets, including crypto, face selling pressure. Therefore, a balanced view acknowledges the positive momentum while respecting inherent market risks. Conclusion Bitcoin’s decisive break above $71,000 represents a major technical and psychological achievement for the cryptocurrency market. This move is underpinned by a confluence of macroeconomic shifts, sustained institutional interest, and positive technical indicators. While the path forward will undoubtedly include volatility, the current **Bitcoin price** action reinforces its role as a leading digital asset. The market now watches to see if this level consolidates as a new base for further exploration of all-time highs. Ultimately, this rally highlights Bitcoin’s ongoing evolution within the global financial system. FAQs Q1: What exactly caused Bitcoin to rise above $71,000? The rise is attributed to several factors: anticipation of the 2024 halving event, increased institutional investment via ETFs, a potentially softer U.S. monetary policy, and a technical breakout that triggered automated buying algorithms. Q2: Is this a good time to buy Bitcoin? Investment decisions depend on individual risk tolerance and financial goals. While the trend is positive, cryptocurrency markets are highly volatile. Experts recommend thorough research and considering dollar-cost averaging rather than lump-sum investments at market peaks. Q3: How does this price compare to Bitcoin’s all-time high? Bitcoin’s all-time high, reached in November 2021, was approximately $69,000. The move above $71,000 therefore represents a new nominal record high for the asset, a significant milestone. Q4: Will other cryptocurrencies follow Bitcoin’s rise? Historically, major rallies in Bitcoin’s price often lead to increased interest and capital flow into the broader cryptocurrency market, a phenomenon known as “altcoin season.” However, Bitcoin typically leads the initial charge, with other assets following if the bullish sentiment persists. Q5: What are the main risks to this current rally? Key risks include unexpected hawkish turns from central banks, negative regulatory developments in major economies, large-scale sell-offs from Bitcoin whales or government-held assets, and a general decline in global risk appetite that affects all speculative markets. This post Bitcoin Soars: Remarkable Rally Propels BTC Above $71,000 Milestone first appeared on BitcoinWorld .
Ethereum (ETH) whales are pulling the cryptocurrency market in opposite directions as January drew to a close.
Bitcoin's latest pullback is pushing more holders into paper losses, while a separate cost basis gauge highlights a possible downside level near the mid $30,000s if past cycle patterns repeat. Together, the charts frame the selloff as a stress test for conviction, with unrealized losses rising and long term holder levels back in focus. Bitcoin slides as relative unrealized loss rises to multi-year highs Bitcoin’s relative unrealized loss climbed to one of its highest readings of the past cycle as price pulled back from recent highs, according to Glassnode data. The metric, which tracks the share of coins held at a paper loss, rose sharply during the latest selloff, signaling that a larger portion of supply moved underwater as spot price slipped from the upper range into lower levels. At the same time, Bitcoin’s dollar price remained well below recent peaks, and therefore the move pushed more short-term holders into loss during the decline. BTC Relative Unrealized Loss. Source: Glassnode The chart shows earlier spikes in relative unrealized loss lining up with broad drawdowns in 2018 to 2019 and again during the 2022 bear phase. In each case, the orange loss bands expanded as price fell and then narrowed as price stabilized and recovered. This time, the loss share expanded again as Bitcoin rolled over from late-cycle highs, and meanwhile price stayed under prior resistance. As a result, the latest reading places current conditions closer to historical stress zones than to periods of broad profit. Even so, the metric has not stayed elevated for long stretches outside major downturns. After past spikes, loss pressure faded as selling slowed and price found support. Now, the data show loss rising during the pullback while price trends lower than the recent range. Therefore, the current structure reflects renewed stress among holders following the decline, with the indicator expanding during weakness and compressing during rebounds, a pattern that has tracked cycle drawdowns across prior periods. Analyst ties bitcoin downside target to long term holder realized price Bitcoin could bottom near $34,500 if it drops about 15% below its long term holder realized price, according to crypto trader TedPillows, who shared a Bitcoin Magazine Pro chart tracking the metric against BTC’s spot price. TedPillows said each cycle bottom has formed roughly 15% under the long term holder realized price, a cost basis style measure that reflects the average price paid by coins held for longer periods. Bitcoin Long Term Holder Realized Price. Source: Bitcoin Magazine Pro In the latest reading shown on the chart, the long term holder realized price sits around $40,300, while Bitcoin’s spot price remains above that level after a pullback from recent highs. Based on the 15% gap he cited, TedPillows calculated a potential bottom near $34,500 if the historical pattern repeats. However, TedPillows added that he does not think Bitcoin will fall that far, even while pointing to the prior-cycle relationship highlighted by the boxed areas on the chart, where spot price briefly undercut the long term holder realized price before turning higher.
ARK Invest sold Coinbase shares for 22.1M$ and invested 10.7M$ in Bullish. BTC rose 15% in the last 15 hours, approaching 70K$. Technically, RSI 33.72, strong 60K support. Garrett Jin added 5K BTC ...
Large players turn into buying Ethereum instead of active selling activity we've been witnessing recently..
Vietnam’s Ministry of Finance has proposed a new tax framework that would treat cryptocurrency transactions much like stock trades, introducing a 0.1% levy on each transfer of digital assets conducted through licensed platforms. The draft circular is now open for public consultation and aims to bring clarity to how digital assets will be taxed under the country’s emerging regulatory regime. Under the proposal, individual investors: both residents and non-residents would owe a 0.1% personal income tax on the gross value of every crypto transfer they make through licensed service providers. This mirrors the turnover-based tax applied to stock transactions in the Vietnamese market. At the same time, the draft clarifies that crypto transfers and trading activities would remain exempt from value-added tax (VAT), reaffirming the government’s view of digital assets as financial instruments rather than goods or services liable for consumption tax. Officials say the turnover-based approach eliminates the need to calculate net gains on every trade, simplifying compliance for investors and aligning crypto with the established securities tax model. As part of the consultation, authorities are also seeking feedback on how best to enforce the tax and what systems licensed providers must put in place to collect and remit it. Corporate Tax Rules and Market Structure The draft framework also outlines how corporate investors would be taxed under the new regime. Firms established in Vietnam that generate income from crypto transfers would face the standard 20% corporate income tax, calculated on net profits after deducting purchase costs and related transaction expenses. Foreign-based corporate investors would be liable for a 0.1% tax on the value of each transfer, similar to the levy for individual investors. Lawmakers are formalizing the definition of crypto assets as “digital assets that rely on cryptographic or similar technologies for issuance, storage, and transfer verification,” detail that could help extend legal certainty to market participants. At the same time, the draft includes strict licensing requirements for digital asset exchanges, such as a minimum charter capital of 10 trillion Vietnamese dong (about $408 million) and limits on foreign ownership to 49%. These tax proposals are part of Vietnam’s five-year pilot program for digital asset markets, launched in September 2025. Officials have said the pilot will inform longer-term legislation and oversight mechanisms as the country works to balance investor protection with the rapid growth of crypto adoption.
XRP touches its 200-week moving average at $1.41 after a brutal retrace from $3.6 - if this level holds, the supercycle theory for XRP remains alive despite the bear market optics.
Welcome to Latam Insights, a compilation of the most relevant crypto news from Latin America over the past week. In this week’s edition, the Brazilian government is preparing to introduce a decree to pave the way for taxing cryptocurrency flows, Venezuela offers gas bitcoin mining opportunities, and new Libra revelations arise. Brazil Prepares to Tax