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Bitcoin Could Hit $150K Before Next Bear Market Mcclurg
GameFi Guides

Bitcoin Could Hit $150K Before Next Bear Market: McClurg

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Bitcoin may have more room to climb before a potential downturn, according to Canary Capital CEO Steven McClurg. Speaking in a CNBC interview on Friday, McClurg said he sees a “greater than 50% chance Bitcoin goes to the 140 to 150 range this year before we see another bear market next year.” 

At the time, Bitcoin was trading at $117,867, leaving an upside of around 19% to 27% if it reaches his target.

McClurg tied Bitcoin’s recent momentum largely to inflows into spot Bitcoin ETFs and buying activity from treasury firms. “That’s what is really driving price,” he said, adding that large sovereign wealth funds and insurance companies are also showing increasing interest. He believes treasury allocations may peak in the coming months, but acknowledged their role has been significant in pushing Bitcoin higher.

Despite his bullish short-term view, McClurg warned of risks in the broader economy. He expressed concern over rising debt burdens, pointing out that student loan defaults are now higher than in 2009, while credit card and mortgage defaults are also climbing. 

“I don’t like the economic standing at all right now,” he said, noting that he expects the U.S. Federal Reserve to cut rates in September and October. According to CME’s FedWatch tool, markets are already pricing in a more than 90% chance of a September cut.

McClurg also discussed developments around crypto ETFs. He pointed out that the SEC is working on a generic listing framework, which could make it simpler for altcoin ETFs to launch. 

This move may pave the way for products linked to assets such as XRP and Litecoin as early as later this year. His firm has also filed for staked crypto ETFs, including a staked Tron ETF, aimed at generating and distributing yield to investors.

On Ethereum, however, McClurg was less enthusiastic. He described the network as “outdated technology” compared to newer protocols and suggested it is unlikely to see fresh all-time highs. By contrast, he sees renewed potential in Litecoin, calling it the “silver to Bitcoin’s gold” and praising founder Charlie Lee’s recent efforts to strengthen the network.

While McClurg cautioned that a bear market across the economy could emerge in 2026, he stressed that easier monetary policy and institutional flows may still push Bitcoin to fresh records in the coming months.

Also Read: Analyst Sees 30% Chance Bitcoin Bull Run Has Peaked



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Bitcoin
NFT Gaming

Bitcoin On-Chain Metrics Crash To Bear Market Levels Despite Price Sitting Close To ATH

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Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Bitcoin’s price action is still above the $100,000 threshold and within striking distance of its all-time high at $111,700, but its on-chain activity tells a completely different story. According to the latest report from on-chain analytics firm Glassnode, even though Bitcoin’s price is pushing to new heights, underlying blockchain metrics have slipped into territories more commonly associated with bear market phases.

Quiet Blockchain Activity Despite Price Strength

According to a report looking at various on-chain metrics from on-chain analytics company Glassnode, Bitcoin has mostly been highlighted by quiet blockchain activity despite its current price foray above $100,000. For example, daily transactions have now dropped to a range between 320,000 and 500,000, down from a peak of over 730,000 in 2024. This is a significant decrease in throughput for a network operating in a bullish price environment. 

The slowdown in daily Bitcoin transactions is mainly tied to a corresponding decline in non-monetary activity such as Inscriptions and Runes, which had previously contributed to transaction spikes. The actual transfers of value in monetary transactions have been relatively steady, but overall, the drop in network usage has created a noticeable divergence where previous rallies to all-time highs were usually accompanied by a rise in on-chain transactions.

BTC is currently trading at $103,987. Chart: TradingView

Although transaction counts are falling, the Bitcoin blockchain is settling huge amounts of transactions on-chain. The daily volume average this cycle is around $7.5 billion and spiked as high as $16 billion during the initial rally above $100,000 in late 2024. However, the nature of these transactions has shifted from the hands of retail traders. The average volume per transaction is just above $36,000, meaning that large institutional players and high-net-worth individuals are now the primary users of the Bitcoin network.

Retail-size transactions (those under $100,000) have seen their relative share of the total volume go down massively. For example, transactions in the $0 to $1,000 range now represent less than 1% of total value transferred, down from about 4% at the start of this cycle. 

Fee Pressure Drops While Off-Chain Trading Dominates

Glassnode’s report also highlights how subdued the fee environment has become, even with Bitcoin trading around all-time high prices. Average miner revenue from transaction fees has dropped to just $558,000 per day. Although the decrease is partly due to technical improvements like SegWit and transaction batching, the massive fall in miner revenue indicates a notable drop in block-space demand and the overall reduction in the number of transactions. 

On the other hand, trading activity has shifted to off-chain venues, especially centralized exchanges. Spot volumes often exceed $10 billion per day, while futures markets dominate with average daily volume around $57 billion and peaks surpassing $120 billion. Options markets are also growing, now handling over $2.4 billion per day. Altogether, these off-chain platforms handle 7 to 16 times more volume than what is settled directly on the Bitcoin blockchain.

In conclusion, the Glassnode report shows the changing dynamics of Bitcoin’s ecosystem and how it is slowly leaning more toward large institutions than retail traders. At the time of writing, Bitcoin is trading at $103,470, down by 2% in the past 24 hours.

Featured image from Pexels, chart from TradingView

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.



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SHIB in Bear Mode, Open Interest Down 24.59% in 24 Hours
NFT Gaming

SHIB in Bear Mode, Open Interest Down 24.59% in 24 Hours

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The recent crypto market dynamics show that momentum is fading, with major cryptocurrencies facing high volatility. 

Shiba Inu (SHIB) has not been left out of this negative trend, as the latest data from Coinglass shows that open interest in Shiba Inu has fallen significantly by 24.59% in just one day.

Shiba Inu cools off

While the crypto market remains uncertain, it has sparked fears and doubts among market participants, as on-chain activity increasingly reflects negative sentiment. As a result, Shiba Inu is seen returning to the red zone.

According to the data provided, the popular dog-themed meme token has recorded 12.25 trillion SHIB in total futures open interest—a level last witnessed about three weeks ago. While this is worth about $172.61 million, it represents a significant decline from the levels observed in the previous 24 hours.

This means that the total amount of money invested in Shiba Inu derivatives over the last day has decreased substantially, suggesting reduced optimism and interest among investors.

Projecting a massive 24.59% decline, this sharp drop in SHIB’s open interest signals a notable shift in market sentiment, accompanied by a significant cooling in trader enthusiasm.

This metric is closely monitored by investors as it serves as a key indicator for the potential performance of a cryptocurrency. 

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Notably, SHIB’s open interest represents the total value of all open futures contracts on the leading meme coin. Typically, a fall in a token’s open interest signals declining investor confidence in the asset’s short-term momentum.

The negative trend has also been reflected in the price of the token. Data from CoinMarketCap shows that Shiba Inu has declined by a massive 6.63% in the last 24 hours. As of press time, it is trading at $0.00001313.

Source: CoinMarketCap

The fall in SHIB’s open interest comes as no surprise, amid broader uncertainty in the global crypto market, with Bitcoin and all leading altcoins facing major downturns.

Considering SHIB’s strong community and consistent ecosystem developments, this metric has sparked concern among investors. They worry that a potential bear phase might unfold for the SHIB ecosystem if the trend doesn’t reverse, potentially putting its holders at substantial losses.



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Altcoin ‘wildfire’ inbound as trader shuts down bear market fears
Crypto Trends

Altcoin ‘wildfire’ inbound as trader shuts down bear market fears

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A crypto trader has pushed back against claims that altcoin season is already over, arguing that it hasn’t even started yet, as many tokens are still near their local price bottoms.

“I don’t understand why people start claiming that a bear market is around the corner,” MN Trading Capital founder Michaël van de Poppe said in a May 28 X post.

Calls for altcoin season mount

“They are literally on the bottom,” van de Poppe added before stating that the “final easy 12-24 months are coming.” While many altcoins have posted gains over the past 30 days, they remain below their levels from the market uptrend until US President Donald Trump’s inauguration in January.

Solana (SOL) posted 17.84% gains over the past 30 days, trading at $175.17, but is still down 32% since Jan. 19, according to CoinMarketCap. Meanwhile, XRP (XRP) posted gains of 1.98%, trading at $2.31, but is still down 29.35% since Jan. 19.

Solana reached an all-time high of $261 on Jan. 19 amid the launch of the Official Trump coin. Source: CoinMarketCap

Van de Poppe’s claim comes after Bitcoin (BTC) traders have recently been calling for a pullback after it reached its $111,970 all-time high and seven green weekly candles. 

Other analysts have echoed similar sentiments to van de Poppe.

“Soon, Altcoins will turn into a wildfire,” crypto trader Davinci Jeremie said. Meanwhile, crypto trader Moustache said that “altseason isn’t just a meme. It’s coming ladies & gentleman.” 

Related: Altcoins’ roaring returns and falling USDT stablecoin dominance suggest ‘altseason’ is here

Many crypto market participants believe that the altcoin season will begin after Ether (ETH) has a period of outperformance relative to Bitcoin.

The ETH/BTC ratio is 0.02430, up 26.74% over the past 30 days, according to TradingView data.

The ETH/BTC ratio is up 26.74% over the past 30 days. Source: TradingView

However, CoinMarketCap’s Altcoin Season Index — which tracks the performance of the top 100 altcoins relative to Bitcoin over the past 90 days — still shows the market leaning toward Bitcoin, with a 24 out of 100 score.

Fartcoin (FARTCOIN) led the top 100 cryptocurrencies in gains over the past 90 days with a 316.72% increase, followed by Four (FORM) at 148.15% and Virtuals Protocol (VIRTUAL) at 107.47%.

Magazine: AI cures blindness, ‘good’ propaganda bots, OpenAI doomsday bunker: AI Eye

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.



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Bitcoin
Crypto Trends

Bitcoin Falters Under Moving Average Pressure – Is The Bear Menu Back On?

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Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

According to Shaco AI, Bitcoin is currently trading at $107,750 positioned below the 25-hour simple moving average (SMA) of $109,245 and the 50-hour SMA of $110,192. This indicates a short-term bearish trend as Bitcoin struggles to maintain momentum above these critical moving averages. 

Momentum Indicators And Volume Analysis

In his latest analysis shared on X, Shaco AI highlighted key technical indicators that paint a cautious picture for Bitcoin’s short-term trajectory. He noted that the Relative Strength Index (RSI) is currently sitting at a cold 36.53, signaling that the asset is nearing oversold conditions. This level often hints at a potential reversal or at least a pause in bearish momentum, but it’s not a guarantee of recovery, especially when sentiment remains shaky.

Shaco AI also drew attention to the Moving Average Convergence Divergence (MACD), which is currently at -755.12. This deep negative value aligns with the ongoing downtrend and confirms that bearish momentum is still very much in control. The continued divergence between the MACD and its signal line suggests that bulls are struggling to regain any significant traction. Until a crossover or a change in trend appears, caution remains the dominant strategy.

BTC’s eyea reversal | Source: Shaco AI on X

According to Shaco, trading activity dropped significantly, with volume at just $383.4 billion compared to the average of $1.425.44 trillion during the time of his post. “It seems traders have gone on a silent retreat,” he remarked, pointing to the lack of conviction among market participants. Such low volume can often precede sharp moves, so watching for a sudden spike either up or down could be critical in gauging Bitcoin’s next direction.

Bitcoin Key Price Levels 

Shaco AI also outlined key price levels that could define Bitcoin’s next move. He pointed to $111,980.00 as a critical resistance level, an area where upward momentum might struggle to break through. On the downside, $106,800.00 serves as immediate support. A breakdown below this could open the door to deeper losses, hence the warning to “mind your step.

Adding to the technical outlook, the Average Directional Index (ADX) is currently sitting at 37.85, signaling a strong trend in play, whether bullish or bearish. This suggests that Bitcoin is likely gearing up for a more decisive move in the near future.

However, Shaco AI advised caution due to the low trading volume. If volume begins to rise, especially near these support or resistance zones, it may be an early signal of a potential breakout or reversal. For now, traders are urged to stay alert and prepare for possible volatility ahead.

BTC trading at $109,396 on the 1D chart | Source: BTCUSDT on Tradingview.com

Featured image from Getty Images, chart from Tradingview.com

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.



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