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A widely followed crypto analyst says that Bitcoin (BTC) appears primed to skyrocket to a six-figure price tag but warns investors that it may go through a correction first. In a new thread, pseudonymous crypto trader Inmoral tells his 230,800 followers on the social media platform X that the crypto king will make a pit stop around the $85,000 level before shooting up to $100,000. “$90,000 > $85,000 > $100,000.” Source: Inmortal/X The trader’s chart indicates that the top crypto asset by market cap will once again cross into six-figure territory sometime in May. According to Inmortal, the $90,000 level is where the flagship digital asset will be tested. However, before it can cross that barrier, its monthly open – or the price it opened up the month with – needs to be retested. BTC is trading for $87,015 at time of writing, a fractional increase during the last 24 hours. On March 1st, BTC opened up with a price of $84,373. Moving on to...

A blockchain tracking firm says a crypto trader known for accurately calling tops and bottoms has caused a massive correction for MAGA (TRUMP), a memecoin inspired by presidential nominee Donald Trump. The pseudonymous trader known as Gigantic Rebirth (GCR) reportedly sent over half of his TRUMP stack to crypto exchange MEXC, presumably to sell on the open market, according to Lookonchain. “Legendary trader GCR (GiganticRebirth) deposited 466,000 TRUMP ($2.4 million) to MEXC, causing the price to drop by 10%. GCR spent 703,000 USDT to buy 936,000 TRUMP at $0.75 from Dec 9th, 2023 to Jan 19th, 2024. He currently holds 470,000 TRUMP ($2.28 million), with a profit of ~$4 million!” Source: Lookonchain/X At time of writing, TRUMP is trading for $4.34, down about 20% from last week’s high of $5.47. However, TRUMP is up about 56% in October, rising in sync with Donald Trump’s odds of winning the November presidential election. Data from the cr...

After months of enthusiasm about a potential rally to unprecedented highs toward $100,000 or – according to some prominent investors – toward $300,000, building up in the wake of spot exchange-traded funds (ETFs) approval, a new record value near $73,000, and the halving event in April, Bitcoin (BTC) price movement turned relatively stagnant and even threatened a collapse in early May. By the middle of the month – and particularly after the latest CPI report came out lower than was feared – the world’s premier cryptocurrency again took off, gaining nearly 5% in a week and surging from a low near $60,000 to a press time price of $66,357. BTC 7-day price chart. Source: Finbold While many traders are hopeful the rally signals an end to the crypto market’s stagnant phase and a full return to the bull cycle, technical analysis (TA) analysis reveals that it may not be just smooth sailing ahead. Picks for you We asked ChatGPT-4o what’s the best cryptocu...