Bitcoin whales accumulate amid price consolidation: $94K emerges as key support level
Bitcoin (BTC) is currently experiencing a period of price consolidation, trading within a $5,000 range after reaching an all-time high of $112,000. Despite this sideways movement, large-scale investors, commonly referred to as “whales,” are actively increasing their BTC holdings. This accumulation suggests a bullish outlook among major market participants.
Keith Alan, co-founder of trading resource Material Indicators, highlights that Bitcoin is consolidating above the $100,000 mark, with significant buying activity from whales. Data indicates that $112,000 is currently attracting the highest ask liquidity, reinforcing its status as a critical resistance level. Should a market correction occur, Alan identifies the 21-week moving average, approximately at $94,000, as a potential support zone. He emphasizes that while the market trend remains upward, periods of consolidation or correction are natural and often follow consecutive weeks of gains.
In parallel, trader James Wynn from Hyperliquid has garnered attention for his high-leverage BTC trades. Wynn reports that coordinated market actions have pushed BTC prices down to $108,700, nearing his liquidation point. He managed to mitigate losses by promptly adjusting his positions. As of May 28, Wynn’s 40X leveraged long position is at an unrealized loss of $3.4 million, according to HyperDash.
The ongoing accumulation by whales and the identification of key support levels suggest that major investors remain confident in Bitcoin’s long-term prospects, even amid short-term price fluctuations.
Source: Cointelegraph
Ethereum eyes $3K breakout as technical indicators signal bullish momentum
Ethereum (ETH) is exhibiting strong bullish signals, indicating a potential surge beyond the $3,000 mark. As of May 28, 2025, ETH is trading at approximately $2,639, forming an ascending triangle pattern — a bullish chart formation characterized by a horizontal resistance line and an upward-sloping support line. This pattern suggests accumulating buying pressure, often leading to significant upward price movements.
The resistance level at $2,735 has been tested multiple times over the past two weeks, while the higher lows indicate increasing demand. The convergence of the 50-day Simple Moving Average (SMA) approaching a crossover above the 100-day SMA further supports the bullish outlook. Such a crossover is typically seen as a positive signal, indicating upward momentum.
Additionally, the narrowing of Bollinger Bands to a gap of approximately $250 suggests an impending volatility expansion. Historically, such contractions in Bollinger Bands precede significant price movements, often aligning with breakouts from chart patterns like the ascending triangle.
Analyst Omkar Godbole notes that a successful breakout above the $2,735 resistance could resume the rally from April lows near $1,390, potentially propelling ETH above the $3,000 threshold. However, a downside break from the triangle would invalidate the bullish scenario and might lead to increased selling pressure.
In summary, Ethereum’s current technical setup, characterized by the ascending triangle pattern, moving average crossover, and narrowing Bollinger Bands, points toward a bullish breakout. Traders and investors should monitor these indicators closely, as a move above $3,000 could signify the continuation of Ethereum’s upward trajectory.
Source: Coindesk
BlackRock acquires 10% stake in Circle’s IPO, signaling strong institutional confidence in USDC
In a significant development for the cryptocurrency industry, BlackRock, the world’s largest asset manager, is set to acquire 10% of the initial public offering (IPO) shares of Circle, the issuer of the USD Coin (USDC) stablecoin. This move underscores BlackRock’s strategic commitment to the digital asset space and highlights the growing institutional confidence in regulated stablecoins like USDC.
Circle, founded in 2013 by Jeremy Allaire and Sean Neville, has been at the forefront of developing digital financial infrastructure. USDC, its flagship product, is a stablecoin pegged to the U.S. dollar and is widely used for various applications, including payments, remittances, and decentralized finance (DeFi) protocols. The stablecoin’s transparency and regulatory compliance have made it a preferred choice among institutional investors.
BlackRock’s decision to acquire a substantial stake in Circle’s IPO is more than a mere investment; it represents a strategic alignment with the future of digital finance. By investing in Circle, BlackRock is positioning itself to play a pivotal role in the integration of traditional financial systems with blockchain technology. This partnership is expected to accelerate the adoption of USDC in mainstream financial markets, bridging the gap between conventional finance and the emerging digital economy.
The acquisition also signals a broader trend of traditional financial institutions embracing digital assets. As regulatory frameworks around cryptocurrencies become more defined, entities like BlackRock are increasingly seeking opportunities to participate in the digital asset ecosystem. Their involvement lends credibility to the space and encourages other institutional players to explore similar ventures.
Furthermore, BlackRock’s investment in Circle could pave the way for innovative financial products and services that leverage the stability and efficiency of USDC. Potential applications include tokenized securities, real-time settlement systems, and enhanced cross-border payment solutions. Such developments would not only benefit institutional clients but also contribute to the broader adoption of blockchain technology in everyday financial transactions.
In conclusion, BlackRock’s acquisition of a 10% stake in Circle’s IPO is a landmark event that underscores the convergence of traditional finance and the digital asset industry. It reflects a growing recognition of the value and potential of regulated stablecoins like USDC and sets the stage for increased institutional participation in the evolving landscape of digital finance.
Source: Coindoo