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Bitcoin, XRP holders earn massive returns using IOTA Miner
NFT Gaming

Bitcoin price forms two risky patterns as ETF outflows rise

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As the Bitcoin price retreats below the $110,000 support level, two risky chart patterns have formed while exchange-traded fund (ETF) outflows rise. 

Summary

  • Bitcoin price has formed a head-and-shoulders pattern.
  • BTC has also formed a rising wedge pattern on the weekly chart.
  • Bitcoin ETF inflows have slowed for two consecutive weeks.

Bitcoin price retreats amid ETF weakness

At last check on Saturday, September 27, Bitcoin (BTC) was trading at approximately $109,600. That’s down 12% from its all-time high. It is also hovering at its lowest level since September 2. 

BTC and other cryptocurrencies pulled back this week as demand from American investors eased. Data compiled by SoSoValue shows that ETF inflows have slowed in the past two weeks.

All Bitcoin ETFs experienced outflows of $902 million this week, after adding $886 million a week earlier. They said $2.34 billion the week of September 12. 

One potential reason for the weakness is that some Federal Reserve officials warned about interest rate cuts. Officials like Austan Goolsbee, Beth Hammack, and Raphael Bostic cautioned that the Fed should be cautious when cutting rates. 

These officials noted that inflation has remained above the 2% target for over four years. They also noted that the labor market was still strong, citing the low unemployment rate. 

Also, the economy has been resilient, with a recent report showing that it expanded by 3.8% in the second quarter. The number of Americans filing for jobless claims has dropped significantly in the past few weeks.

Looking ahead, the next important catalyst for Bitcoin and other coins will be the non-farm payrolls data on Friday. These numbers will help to determine whether the Fed will cut interest rates in the October meeting.

BTC price has formed a head-and-shoulders pattern

BTC price chart | Source: crypto.news

The daily timeframe chart shows that the Bitcoin price has pulled back in the past few weeks. A closer look reveals that it has slowly formed a head-and-shoulders pattern, which often signals further downside. 

It has also moved below the 50-day Exponential Moving Average, while the Relative Strength Index has pointed downwards. These patterns suggest further downside potential to the 50% Fibonacci Retracement level at $100,000.

BTC formed a rising wedge and bearish divergence 

Bitcoin chart | Source: crypto.news

The weekly chart indicates that the Bitcoin price has formed a rising wedge chart pattern, characterized by two converging trendlines that are rising. These two lines are nearing their confluence, indicating a potential bearish breakout.

At the same time, oscillators like the Relative Strength Index and the MACD have formed a bearish divergence pattern as they have moved downwards, as it kept rising. These two patterns also indicate further downside in the coming weeks.



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Bullish patterns in Trump Coin face whale-sized risks
NFT Gaming

Bullish patterns in Trump Coin face whale-sized risks

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Trump Coin faces serious headwinds that could limit its upside in the near term. Here’s the breakdown.

Summary

  • Trump meme coin price has formed numerous bullish chart patterns. 
  • The risk is that whale investors continue to dump their tokens.
  • Another risk is that the supply of TRUMP on exchanges is rising. 

Trump Coin bulls beware

The Official Trump (TRUMP) meme coin price has remained in a tight range in the past few months. On the positive side, it has formed a double-bottom pattern at $8 and a neckline at $11.90. This pattern often leads to a strong bullish breakout as it signals that bears are afraid of shorting it below that price.

Trump Coin price has also formed a falling wedge pattern whose two lines are about to converge. This pattern typically leads to more gains over time. Most importantly, the Relative Strength Index and the MACD indicators have formed a bullish divergence pattern.

Therefore, technicals suggest that the Trump meme coin will rebound in the near term. If this happens, the next important level to watch will be the double-bottom neckline at $11.90. 

Trump Coin price chart | Source: crypto.news

Whale dumping could spoil the momentum

The strong technicals, however, may not be enough to boost the Trump Coin price amid weak fundamentals. First, Nansen data shows that whale investors have been selling the tokens in the past few months. These investors now hold 4.96 million coins, down from the August high of 5.87 million. 

Second, the number of Trump coins on exchanges has continued to rise in the past few months. There are now 128.4 million coins in exchanges, mostly in Binance, Robinhood, and OKX. The supply has increased from the June low of 118 million. Soaring exchange outflows is risky because it sends a signal that many investors are selling their tokens. 

The other risk is that there is an increased supply of the token, with most of them going to the Trump family. There are 199 million TRUMP tokens in circulation, meaning that 800 million more will be unlocked in the next few years. Token unlocks often lead to lower prices by increasing the supply.

How Trump Coin became a thing

The Official Trump meme coin was launched on Jan. 17, just days before Donald Trump’s inauguration as the 47th U.S. president. The coin debuted on the Solana blockchain, with 200 million tokens released to the public in an initial coin offering (ICO) and the remaining 800 million held by Trump-affiliated entities, CIC Digital LLC and Fight Fight Fight LLC.

This strategic timing leveraged the heightened media attention surrounding the inauguration, contributing to the coin’s rapid rise in value.

Since then, Trump’s meme coin has generated substantial profits, combining trading fees and the value of his personal holdings. Estimates from financial outlets such as the Financial Times and the New Yorker put his gains at around $350 million in March, rising to $385 million by August.

Overall, the Trump family has gained an estimated $5 billion from their holdings in a separate crypto venture called World Liberty Financial. The firm’s WLFI token began trading on Sept. 1. The family’s stake is sizable—but subject to the usual cryptocurrency volatility.

What critics say

Trump’s critics claim that the family’s WLFI venture and its Trump Coin venture operate like “pay-to-play” schemes. Key concerns include:

  • Pay-for-access dinner: In May, Trump hosted a Virginia golf club dinner for top $TRUMP investors, offering personal access in exchange for investment.
  • Foreign investment and policy influence: In May, an Abu Dhabi-backed fund used the WLFI stablecoin to invest $2 billion in Binance, while the Trump administration maintained a hands-off stance on crypto regulation, raising conflict-of-interest concerns.
  • Favored treatment for major investors: Regulators reportedly paused a fraud investigation into TRUMP investor Justin Sun shortly after his significant investments in Trump’s crypto ventures.



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(CoinDesk Data)
NFT Gaming

XRP Bullish Patterns Point to $5 as Korean Buyers Start to Accumulate

by admin



News Background

  • XRP fell sharply alongside broader market weakness, retreating 4.3% in the 24-hour session from August 28 at 13:00 to August 29 at 12:00.
  • On-chain data showed Korean exchanges absorbing 16 million XRP (≈$45.5 million) during the selloff, pointing to regional institutional demand even as retail wallets reduced exposure.
  • South Korea has historically been a driver of speculative crypto trading, often leading price action in certain altcoins (sometimes called the “Kimchi Premium” effect).
  • If large wallets associated with Korean exchanges or institutions are accumulating at support, it suggests regional demand is stepping in to absorb retail selling pressure, effectively putting a floor under XRP.
  • For global traders, that sets up a narrative of distribution vs. accumulation: while some whales were moving $200 million in DOGE to Binance (a distribution signal), Korean desks were adding XRP exposure (an accumulation signal).
  • XRP Ledger activity picked up, with active addresses climbing 20% in three days ahead of the Sept. 12 Decentralized Media launch.
  • Chinese fintech firm Linklogis integrated its trillion-dollar supply-chain financing platform with XRP Ledger, boosting its equity 23% and underscoring enterprise adoption.

Price Action Summary

  • XRP slid from $3.02 to $2.89 in the 24-hour window, a 4.30% decline across a $0.17 (5.75%) range between $3.02 peak and $2.85 low.
  • Heavy selling at 15:00 GMT on Aug. 28 drove prices down to $2.77 on 96.19 million volume, more than double the 24-hour average of 43.48 million.
  • Buying support emerged at $2.85–$2.86, with volumes above baseline during the 07:00–09:00 GMT recovery push on Aug. 29.
  • In the final hour (11:56–12:55 GMT), XRP bounced from $2.87 to $2.89, touching $2.91 at 12:31 on a 19.6 million spike.

Technical Analysis

  • Support: Key base at $2.77, reinforced by strong volume absorption; $2.85–$2.86 now acting as an accumulation zone.
  • Resistance: $2.91 short-term cap; $3.02 remains the dominant ceiling from repeated rejection.
  • Momentum: RSI lifted from 42 (oversold) into the mid-50s, showing recovery momentum.
  • MACD: Histogram tightening toward a bullish crossover, indicative of potential upside if buyers sustain pressure.
  • Patterns: Symmetrical triangles and double-bottom setups align with a broader cup-and-handle formation that some analysts see extending toward $5–$13 targets.

What Traders Are Watching

  • Whether $2.85–$2.86 support continues to hold against renewed selling.
  • A confirmed break above $3.02–$3.04 resistance as the first trigger for a run toward $3.20.
  • Downside risks open if $2.77 fails, with $2.70 as the next support.
  • Institutional accumulation on Korean exchanges and corporate flows remain the key driver for sustaining momentum into September’s event calendar.



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Pi Network, Cetus, Optimism: Cryptocurrencies to watch
Crypto Trends

Pi Coin price poised to pop? Two rare patterns form

by admin



Pi Coin, the native cryptocurrency of the Pi Network, remains in a deep slumber despite the recent crypto market rally.

After hitting a year-to-date low, Pi Coin (PI) shows signs of a potential bullish reversal, forming rare chart patterns like a double-bottom and falling wedge. With low volatility suggesting an accumulation phase, the cryptocurrency could see a breakout if triggered by catalysts such as a tier-1 exchange listing, a token burn, or increased decentralization—though a drop below the double bottom would invalidate the bullish outlook.

Summary

  • Pi Network price has formed a falling wedge pattern on the daily chart. 
  • Pi has also formed a double-bottom pattern at its lowest level this month. 
  • It has numerous catalysts that may push it higher in the near term.

Pi Network price technical analysis

Pi Coin was trading around $0.3567 at the last check on Sunday, Aug. 24 — significantly lower than its year-to-date high of $3. Its market cap and daily trading volume have slumped this year.

A closer look at the Pi Coin’s12-hour chart shows that it has formed two rare unique chart patterns. The first one is a double-bottom pattern at $0.3357, its lowest level on Aug. 1 and 19. This pattern has a neckline at $0.4660, its highest level on Aug. 10. In most cases, this pattern normally leads to a strong bullish breakout.

Pi Network, a mobile-focused blockchain that allows users to mine and transact directly through a smartphone app, has also formed another rare pattern known as a falling wedge. This pattern, illustrated in the chart below in red, is drawn by connecting the highest swings since June 26 and the lowest points since April this year. The two lines are nearing their confluence, which may trigger a big move ahead. 

At the same time, the volume and volatility have slumped in the past few months. That could be a sign that it is in the accumulation phase of the Wyckoff Theory. The bullish Pi Network price forecast will become invalidated if it plunges below the double-bottom pattern. 

Pi Coin price chart | Source: crypto.news

Potential catalysts for Pi Coin price

The recent OKB (OKB) price surge was triggered by OKX’s announcement that it would burn tokens worth billions. Its maximum supply has now dropped to 21 million. 

Similarly, all Pi Network needs is a single catalyst, which could be a tier-1 exchange listing. Such a listing would be beneficial as it would make it available to millions of users. Pi is only available on a few tier-2 exchanges like Bitget and Gate. 

Another potential catalyst for the Pi coin could be a token burn mechanism that reduces the total number of tokens. Fortunately, Pi has a low-risk approach, where it burns the billions of unclaimed Pi tokens. 

Pi Network price would also go parabolic if there were full decentralization. Presently, the obscure Pi Foundation controls everything and holds over 90 billion tokens.



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