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TRUMP Defies Market Correction With Double-Digit Surge, BTC Falls by $2K (Market Watch)

Following a few consecutive days of charting gains and multi-week peaks, bitcoin’s price movements have finally reversed, and the asset has corrected by around two grand. Most altcoins have followed suit, aside from TRUMP, which exploded after it became known that the top 220 holders will have a special dinner with the US president. BTC Rally Halts The past week was quite sluggish for BTC, as the asset spent most of the time in a tight range between $83,000 and $86,000. All attempts for a breakout in either direction were halted in their tracks. The weekend was similar, with little to no actual price moves. The situation started to change on Monday morning when BTC finally broke above the upper boundary and jumped above $87,000. After a brief correction, it went on the offensive once again on Tuesday by surging past $90,000 for the first time since early March. The gains continued on Wednesday when bitcoin added another four grand and exceeded $94,000 to mark a new multi-week peak. However, after jumping by almost ten grand within a few days and $20,000 since the low on April 7 and 9, BTC, perhaps expectedly, started to lose some ground. As of now, the asset trades around $92,000 after losing just over two grand since the local peak. Its market cap has retraced to $1.825 trillion on CG, but its dominance over the alts is well above 61% on CG. BTCUSD. Source: TradingView TRUMP Shoots Up The biggest news in the cryptocurrency space yesterday came from the US president’s team as the Official Trump (TRUMP) website stated that the top 220 holders of the meme coin will attend a special dinner with the POTUS. Naturally, the asset’s price skyrocketed as investors rushed to buy it . On a daily scale, TRUMP is up by nearly 30% but it went even higher yesterday. In contrast, most other altcoins have turned red today. XRP, DOGE, HBAR, and PEPE lead the pack from the larger-cap alts, while IMX has lost the most value from the mid-caps. The total crypto market cap has lost around $80 billion since yesterday’s peak to under $2.970 trillion. Cryptocurrency Market Overview. Source: QuantifyCrypto The post TRUMP Defies Market Correction With Double-Digit Surge, BTC Falls by $2K (Market Watch) appeared first on CryptoPotato . Cryptoknowmics

Bitcoin Buyers Take Control on Binance, But Funding Rates Flash a Warning

The Bitcoin market appears to have resumed its upward momentum, with BTC’s price trading above the psychological $90,000 level as it reclaims major highs. As of today, BTC has been able to surge as high as $94,32 before now retracing to a current price of $93,473, marking a 3.1% increase in the past day. A deeper look into market behavior reveals that activity on Binance, one of the leading crypto exchanges by volume, may be playing an outsized role in shaping Bitcoin’s short-term price direction. Particularly, a CryptoQuant analyst has noted an uptick in aggressive market buying behavior, where participants are executing immediate purchase orders rather than passively waiting in the order book. This form of execution, often tied to increased market conviction, has become more pronounced on Binance and may help explain Bitcoin’s recent surge. Related Reading: Bitcoin Rally Ahead? Analysts Say These Key Indicators Look Bullish Binance Taker Activity Suggests Buyers Are Leading the Market According to CryptoQuant analyst Crazzyblockk, a significant rise in the taker buy/sell ratio on Binance has been observed, signaling a surge in aggressive buy-side activity. Over the past 30 days, the ratio has increased by 18.9%, while the 7-day ratio has climbed 6.2%. These figures suggest that traders on Binance are entering the market with urgency, placing market buy orders to immediately match sell offers, often a sign of growing buyer confidence. This activity highlights Binance’s growing role in short-term price discovery. When taker-driven momentum is concentrated on a single exchange, it can shape wider market direction through spillover effects. The analyst wrote: The taker buy/sell ratio isn’t just a reflection of who’s buying or selling—it’s a real-time indicator of conviction and pressure, and right now, it’s telling a clear story: buyers are in control, and Binance is the arena where that dominance is playing out most decisively. For those tracking market structure and looking for early signals of momentum, this is a metric that should not be overlooked. Bitcoin Funding Rates Reflect Trader Disbelief Despite Price Gains While order book data shows rising buy-side activity, Bitcoin derivatives metrics tell a different story. In a separate analysis, CryptoQuant analyst Darkfost pointed out that funding rates on Binance have turned negative, currently sitting at approximately -0.006. This metric, which reflects the cost of holding long versus short positions in perpetual futures contracts, typically turns negative when short positions are more crowded than longs, indicating that many traders expect a price decline. Related Reading: Bitcoin Sees Several Bullish Signals But Short-Term Holders Still Struggle Darkfost noted that this disconnect between rising spot prices and negative funding rates mirrors past instances where Bitcoin later experienced extended rallies. Specifically, similar setups occurred in October 2023 and September 2024, both of which preceded sharp price increases. If historical patterns hold, the current level of skepticism in the derivatives market may contribute to further upside, as short-sellers may eventually be forced to unwind positions. Featured image created with DALL-E, Chart from TradingView Cryptoknowmics

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