Crypto AnalysisA false bullish breakout for Bitcoin?
Crypto News
Editor's Picks
Pi Network shows a mild recovery on Friday, following three consecutive days of consolidation, as selling pressure eases after a steep decline earlier this month. Speculative demand for a potential rebound in PI is on the rise as its Open Interest remains elevated. Technically, PI holding steady at key support amid oversold momentum implies a potential recovery ahead.
Bonk extends its losses, trading below $0.0000034 on Friday, losing over 16% so far this week. The ongoing correction was fueled by on-chain data indicating that the hacker behind the recent exploit transferred a portion of the stolen tokens to Binance.
Zcash is up over 2% recovering from an 8% decline the previous day. The privacy coin maintains its retail strength with a rising funding rate despite a minor contraction in ZEC futures Open Interest. Technically, ZEC retains a structural upward trend above its crucial moving averages with an upside toward $690.
Bitcoin (BTC), Ethereum (ETH) and Ripple (XRP) came under renewed selling pressure during the second half of the week after staging a modest recovery earlier in the week. BTC trades below $63,600 on Friday, while ETH slips below $1,860 after facing rejection at key resistance levels. Meanwhile, XRP continues to hold above a crucial support zone, keeping its recovery outlook intact.
Bitcoin (BTC) reclaims $64,000 on Friday, extending a modest recovery while holding firmly above the key technical support zone so far this week. Mixed spot Exchange Traded Funds (ETFs) flows through Thursday reflect cautious institutional positioning. Meanwhile, traders have digested headlines about Strategy’s recent Bitcoin sale, highlighting the Crypto King’s resilience and deep liquidity.
