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This is the ‘only condition’ stopping Bitcoin from $150,000 top

Summary ⚈ Bitcoin must hold above $91,400 to reach a potential top around $155,000. ⚈ Rising global liquidity (M2 supply) could fuel Bitcoin’s rally toward $150,000. ⚈ Large exchange outflows and strong technical indicators signal continued bullish momentum. While Bitcoin ( BTC ) has found momentum above the $90,000 mark, an expert views this position as crucial for the asset to reach a record high of over $150,000. Citing the Pi Cycle Top Indicator, prominent on-chain cryptocurrency analyst Ali Martinez suggested that Bitcoin could climb as high as $155,400 but must maintain a price above $91,400, he said in an X post on April 27. Bitcoin Pi Cycle Top Indicator. Source: Glassnode The Pi Cycle Top Indicator, which tracks the 111-day moving average ( MA ) against twice the 350-day moving average, is used to predict major peaks in the Bitcoin market. Now, Martinez’s outlook is that the two averages are converging again, signaling a potential top if Bitcoin holds above $91,400. Although the analyst did not provide a timeline for Bitcoin to remain above this level, it comes at a time when the digital currency is seeing short-term momentum, driven by supposedly easing trade tensions between the United States and China. More catalysts support Bitcoin to $150,000 In the same breadth, another cryptocurrency analyst, Ted Pillows, believes that Bitcoin will likely trade at $150,000 during this cycle but pointed to a different catalyst. In an X post on April 27, Pillows noted that a surge in global M2 supply could trigger Bitcoin’s rally, as the asset has historically tracked expansions in global liquidity. He also addressed concerns over misleading data suggesting a drop in India’s M2 supply, attributing it to a technical glitch. Even if M2 stabilizes, Pillows believes strong fundamentals and technical indicators position Bitcoin to surpass $150,000. Bitcoin/M2 supply chart. Source: Ted Pillows Meanwhile, as reported by Finbold, crypto trading expert TradingShot believes that Bitcoin has a chance of claiming $140,000 by August, citing the asset’s technical outlook and historical trends. Indeed, further on-chain data supports the possibility of Bitcoin hitting a new high, with insights from crypto analytics platform Santiment suggesting investors anticipate a continued price rebound for BTC. Specifically, as of April 26, over 40,000 BTC had been withdrawn from centralized exchanges within a week. Such a shift often signals a growing trend of investors moving their assets to cold storage, suggesting strong confidence in Bitcoin’s long-term value. More than 40,000 #Bitcoin $BTC have been withdrawn from exchanges over the past week! pic.twitter.com/Gytd1ZFWEV — Ali (@ali_charts) April 26, 2025 Historically, large exchange outflows are considered bullish for Bitcoin, as they reduce the amount of BTC available for sale on the open market. Bitcoin price analysis Bitcoin was trading at $94,177 at press time, down modestly by less than 0.1%. On the weekly timeframe, BTC is up over 11%. Bitcoin seven-day price analysis. Source: Finbold As Bitcoin has broken out on the weekly chart, the asset’s relative strength index ( RSI ), with a reading of 68.65, suggests it may be entering the overbought zone. Additionally, the price remains well above both the 50-day and 200-day simple moving averages (SMA), with the 200-day SMA currently at $86,241, reinforcing the strong upward trend. Featured image from Shutterstock The post This is the ‘only condition’ stopping Bitcoin from $150,000 top appeared first on Finbold . CoinOtag

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Crypto Investors Sue Nike, Accuse Apparel Giant of Rug Pull After Abrupt Closure of Metaverse Business: Report

Sportswear giant Nike is reportedly facing a lawsuit following the closure of its non-fungible token (NFT) business. In 2021, Nike purchased RTFKT Studios, a collectibles firm known for creating viral sneaker designs, memes and other fashionable digital collectibles as it ventured into the metaverse, but the company shut down the project in December. Reuters reports that investors of Nike-themed NFTs and other crypto assets led by Australian resident Jagdeep Cheema filed a suit on Friday, claiming that they suffered significant losses as demand for their digital collectibles dropped following the announcement that RTFKT was winding down its operations. The investors say that they would not have bought the NFTs had they known that the tokens were unregistered securities. To date, the legal status of NFTs is not yet settled, and several lawsuits involve questions on whether or not these assets should be considered as securities. The suit also accuses Nike of orchestrating a “rug pull”, or the sudden abandonment of a project that leaves investors with worthless assets. The plaintiffs are seeking more than $5 million in damages for the alleged violation of consumer laws in New York, California, Florida and Oregon. Nike has not yet issued a statement regarding the lawsuit. Follow us on X , Facebook and Telegram Don`t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox Check Price Action Surf The Daily Hodl Mix Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing. Generated Image: Midjourney The post Crypto Investors Sue Nike, Accuse Apparel Giant of Rug Pull After Abrupt Closure of Metaverse Business: Report appeared first on The Daily Hodl . CoinOtag