XRP has recently defended a key value area low after printing a swing failure pattern, hinting at a potential rotation toward higher levels. While the setup looks promising, volume confirmation will be essential to sustain the move. Ripple (XRP) is…

XRP eyes rotation to channel high after confirmed support hold

After months of bullish momentum that pushed the Bitcoin price to an all-time 
high of over $109,000 earlier this year, analysts are now debating whether 
that surge marked the official market top. Strengthening this argument, a 
confluence of technical indicators suggests the market cycle may have already 
peaked—most notably, the behavior of the Market Value to Real Value (MVRV) 
Z-Score reinforces this view. MVRV Z-Score Shows Bitcoin Price Has Topped A 
new technical analysis by crypto analyst Tony Severino, which combines MVRV 
Z-Score and monthly Relative Strength Index (RSI), is flashing warning signs 
that Bitcoin‘s market top may already be in. Related Reading: Bitcoin Price 
Bullish Confirmation: What Needs To Happen For Next Leg Up To $130,000 Looking 
at the logarithmic price chart, Bitcoin’s MVRV Z-Score has broken below a 
long-standing uptrend support line. This pattern is significant, as the 
Z-Score has always respected the uptrend support lines during bull markets, 
with similar breaks only emerging after Bitcoin reaches an official market 
top. Notably, this isn’t the first time Bitcoin has displayed such a trend 
behavior. Similar support line breaks occurred before BTC’s market peaks 
during the 2017 and 2021 bull cycles. The bearish argument that Bitcoin may 
have already reached a price peak is further strengthened by the visual 
correlation between the Z-Score and Bitcoin’s monthly RSI, which is shown by a 
black line on the chart. In past cycles, Bitcoin’s RSI fell below 70 twice, 
indicating fading momentum and weakening price action. Historically, such 
moves below the 70 level occur shortly after price tops, not before. Even more 
compelling, the RSI-based Moving Average (MA), highlighted by the orange line 
on the chart, is now curling downwards. This subtle but strong signal has only 
appeared in past cycles after the market has already topped, serving as a 
confirmation rather than a prediction. Taken together, these technical 
indicators and historical trends strongly suggest that Bitcoin’s $109,000 peak 
may have marked the top of this market cycle. In line with previous post-top 
bull market behavior, Bitcoin could now be on the verge of entering a 
prolonged bear market. This bearish outlook is reinforced by recent steep 
price corrections, reduced investor confidence, and a clear shift in market 
sentiment toward caution and uncertainty. Bulls Attempt To Reverse Bitcoin 
Bearish Outlook In another of his most recent analyses of Bitcoin, Severino 
revealed that bulls appear to be pushing for a price recovery. The analyst 
acknowledged that his previously dominant bearish narrative of Bitcoin may 
soon see a significant shift if bulls can sustain momentum into April’s 
monthly close. Related Reading: Is The Bitcoin Open Interest Too High Or Can 
The BTC Price Still Rally? According to the presented chart, Bitcoin is now 
testing a key area of interest while simultaneously showing early bullish 
signs of reversing the bearish crossover on the monthly long-term Moving 
Average Convergence Divergence (MACD). Adding to the intrigue, the possible 
formation of a Morning Star candlestick pattern reinforces the possibility of 
a bullish reversal for Bitcoin. Notably, similar chart setups occurred in 2022 
and mid-2023, both of which marked major turning points for Bitcoin’s long- 
term outlook. If the cryptocurrency manages to close April with a complete 
Morning Star pattern, it could force a reevaluation of bearish expectations. 
Featured image from Adobe Stock, chart from Tradingview.com

Is The Bitcoin Price Top In At $109,000 Already? What The MVRV Z-Score Says

A top digital assets expert has shattered the myth of Strategy’s bitcoin price 
influence, revealing weak correlation and minimal market impact despite the 
firm’s aggressive accumulation. Strategy’s Market Impact Minimal, Expert Finds 
Low Correlation With BTC Prices Matthew Sigel, head of digital assets research 
at asset management firm Vaneck, publicly challenged the narrative that 
Microstrategy […]

Strategy Isn’t Driving Bitcoin Price—Data Debunks the Hype, Expert Says

Former SEC Chair Jay Clayton confirmed that he has been appointed as the 
interim US Attorney for the Southern District of New York after the Democratic 
Party&#8217;s Senate leader used a &#8220;blue slip&#8221; to block a vote confirming Clayton&#8217;s 
position.
The appointment comes a little over five months after US President Donald 
Trump nominated Clayton to take on the role. He replaces Damian Williams, who 
played a major role in the conviction of former FTX CEO Sam Bankman-Fried and 
other high-profile crypto cases.
Clayton said on April 22 his top priorities would be to protect public safety, 
ensure the integrity of the US financial system, defend national security 
interests and combat fraud, particularly against the elderly and most 
vulnerable.
The temporary nature of Clayton&#8217;s appointment resulted from Democrat Senate 
Minority Leader Chuck Schumer&#8217;s use of a blue slip to block Clayton&#8217;s 
confirmation on April 16, effectively preventing a Senate vote and official 
confirmation of his position.
Blue slips can be used by senators to block US attorney or district court 
judicial nominees in their home states.
Clayton is allowed to serve as interim US attorney for up to 120 days without 
Senate confirmation. After that, he will need to be approved in a Senate vote 
or receive a temporary extension of his interim status from Manhattan&#8217;s 
federal court.
Trump criticized Schumer&#8217;s move in an April 17 Truth Social post, pointing out 
that Clayton received bipartisan support in the Senate and that Clayton 
complied with all requests asked of him.
_Source:__Donald Trump_ 
The interim status of Clayton&#8217;s position will last until around Aug. 20. The 
role will see him as the top law enforcement officer for New York&#8217;s Southern 
District, encompassing the counties of New York, Bronx, Westchester, Rockland, 
Putnam, Orange, Dutchess and Sullivan.
The Southern District of New York is the oldest federal court district in the 
US, and its location in the country&#8217;s financial epicenter means it often 
handles high-profile cases involving white-collar crime.
## Clayton has shared mostly positive views on crypto
Clayton served as SEC chair between May 4, 2017, and Dec. 23, 2020, and 
brought 56 cases against crypto firms during his tenure.
_**Related:**__**Oregon AG lawsuit against Coinbase calls XRP unregistered 
security**_
He stated in a December 2021 CNBC interview that he&#8217;s a &#8220;huge believer in 
crypto technology,&#8221; adding that &#8220;the efficiency benefits in the financial 
system and otherwise from tokenization are immense.&#8221;
Clayton has also praised Bitcoin (BTC) as a prominent store of value, but 
didn&#8217;t allow Bitcoin exchange-traded products during his time as SEC chair.
The first US Bitcoin investment product was approved in 2021 under former SEC 
Chair Gary Gensler**.**
_**Magazine:**__**XRP win leaves Ripple and industry with no crypto legal 
precedent set**_

Former SEC Chair Jay Clayton sworn in as interim US attorney for Manhattan

A record-breaking 72 crypto ETFs are awaiting SEC approval, signaling a 
seismic shift in U.S. digital asset policy as regulatory momentum turns 
bullish. Explosive Growth in Crypto ETF Filings Hits 72 as SEC Faces a 
Regulatory Crossroads Bloomberg senior ETF analyst Eric Balchunas highlighted 
the increasing number of cryptocurrency-related exchange-traded fund (ETF) 
filings pending before […]

72 Crypto ETF Filings Await SEC Approval Amid Historic Regulatory Shift

This venture could significantly boost institutional Bitcoin adoption, 
influencing market dynamics and regulatory landscapes globally.
The post Cantor Fitzgerald to build $3B Bitcoin venture in partnership with 
SoftBank, Tether, and Bitfinex appeared first on Crypto Briefing.