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Ethereum ( ETH ) appears to be on the verge of a significant breakout, with its current market structure closely mirroring the 2020-2021 cycle. As similar patterns emerge, analysts suggest that Ethereum’s breakout to $10,000 is programmed for this cycle, signaling a potential turning point for the second-largest cryptocurrency by market capitalization. Ethereum’s market structure points to a breakout An analysis by TedPillows highlights Ethereum’s recent capitulation candle, which mirrors the sharp downturn seen in March 2020. At that time, ETH faced a major downturn, leading many to believe the asset’s bullish trajectory was over—only for it to rebound and enter a bull run. Ethereum price analysis chart. Source: TedPillows/X The one-week Ethereum price chart resembles a similar setup, with price action showing a strong rejection from the upper resistance trendline, similar to the 2020 structure. However, just as ETH recovered and initiated a long-term breakout post-2020, analysts believe the current cycle is set for a similar move, with $10,000 potentially in sight. “Ethereum recent capitulation candle reminds me of March 2020. A major dump, which resulted in long-term structure breakout for Ethereum. People thought $ETH was over, and then it started to bounce back. I guess we’re about to see history repeating itself. $10K ETH is programmed this cycle” — the analyst noted. More bullish projections Further supporting the bullish outlook, an analyst with the pseudonym MikybullCrypto has identified a TD Sequential buy signal on Ethereum’s chart, a widely watched technical indicator known for spotting trend reversals. https://twitter.com/MikybullCrypto/status/1888827244287541440 The signal suggests that ETH may be on the verge of a strong bounce, further strengthening the case for a shift in momentum. At the same time, an analysis by Titan of Crypto points to a striking resemblance between Ethereum’s current price action and Bitcoin’s ( BTC ) trajectory just before its explosive breakout in the previous bull run. As reported by Finbold, this historical parallel strengthens the case for Ethereum following a similar path, reinforcing optimism for a sustained move higher. Institutional investors bet big on Ethereum Institutional demand for Ethereum is also surging. According to CoinShares ’ report on February 10, Ethereum exchange-traded products (ETPs) absorbed $793 million in inflows over the past trading week, outpacing Bitcoin’s $407 million for the first time this year. The sharp increase in inflows, representing a 95% lead over Bitcoin, indicates that institutional investors are aggressively accumulating ETH, particularly following its recent dip near $2,100, a classic buy-on-weakness trend. Adding to the growing market interest, Eric Trump’s recent endorsement of Ethereum has fueled renewed speculation, particularly among retail investors. While such endorsements do not directly impact Ethereum’s fundamentals, they often contribute to short-term buying momentum, further supporting ETH’s recovery. What’s next for Ethereum? At press time, Ethereum is trading at $2,678.44, up 1.95% on the day. Ethereum one-day price chart. Source: Finbold With technical indicators aligning, institutional inflows accelerating, and historical patterns reinforcing a bullish outlook, Ethereum appears poised for a major breakout this cycle, potentially paving the way for new highs. Featured image via Shutterstock The post Here’s why analysts think Ethereum’s $10,000 breakout is ‘programmed this cycle’ appeared first on Finbold .
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Source: Finbold
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CFPB Weakened: Crypto Leaders Applaud as New Leadership Shuts Down Operations
Brian Armstrong and Tyler Winklevoss have celebrated the defanging of the Consumer Financial Protection Bureau (CFPB) following recent actions taken by the agency’s new leadership. Coinbase has reportedly been the subject of more CFPB complaints than any other exchange. CFPB Chief Orders Shutdown The agency’s newly appointed chief, Russell Vought, selected by President Donald Trump, has ordered the closure of its headquarters and directed staff to stop all supervisory efforts. Winklevoss, CEO of Gemini, responded to the development on X by stating, “CFPB Unplugged,” and sharing an image of a 404 error page from the organization’s website. Coinbase CEO Armstrong referred to the move as a “100% the right call.” He criticized the CFPB, saying it is unconstitutional, and argued that even if it were not, it should be eliminated because fraud prosecution falls under the Department of Justice and other financial regulators. He further accused the watchdog of being an activist organization that had caused significant harm to the country. Vought took on the role of acting director of the agency on Friday. Reports indicate that on Saturday, he issued a notice to staff instructing them to “cease all supervision and examination activity.” In a separate post on X, he confirmed that he had informed the Federal Reserve, which funds the CFPB, that the bureau would not be drawing its next round of funding, stating it was not “reasonably necessary” for its operations. Coinbase Faces More Complaints Than Other Exchanges The CFPB is responsible for supervising consumer-facing financial institutions to prevent unfair, deceptive, and abusive practices. The agency reported in July 2023 that its enforcement efforts had returned $17.5 billion to Americans since its founding in response to the 2008 financial crisis. The document also revealed that over four million complaints had been forwarded to companies on behalf of consumers. Coinbase has been the subject of more such complaints when weighed up against other major exchanges serving U.S. customers. A search of the CFPB’s complaint database shows that over 7,600 mention Coinbase, compared to 487 related to Gemini and 297 linked to Kraken. The exchange’s customer service has been a longstanding source of criticism. Consumers have reported difficulties reaching support, encountering account restrictions, and facing unresolved complaints about lost funds. Blockchain detective ZachXBT recently revealed that Coinbase users have lost over $65 million to social engineering scams since December last year. However, the platform has previously addressed these concerns, explaining that the increase in restricted accounts resulted from a surge in new and reactivated users following recent elections in the U.S. The platform has also assured customers that its fraud prevention systems continue to function as intended. The post CFPB Weakened: Crypto Leaders Applaud as New Leadership Shuts Down Operations appeared first on CryptoPotato . Finbold
North Carolina Considers Bill to Invest Public Funds in Bitcoin ETFs
North Carolina joins the trend of states considering investments into digital assets, only this bill is focused on Bitcoin ETFs. Finbold
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Litecoin ETF Approval Odds at 90%, Analysts Say
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