Polygon-incubated project Miden has raised $25 million in seed funding. The seed funding comes from investors including a16z crypto, 1kx, and Hack VC, with backing from figures like Rune Christensen of MakerDAO and Sreeram Kannan of EigenLayer. The round comes…

Miden raises $25m to launch ‘Edge Blockchain’ for private, scalable apps

AI has long been under fire for alleged misuse of intellectual property, which 
is something that Camp Network wants to solve.

Camp Network raises $30m to solve AI’s data ownership problem

The U.S. Securities and Exchange Commission (SEC) has delayed a decision on 
whether to approve the listing of Franklin Templeton’s proposed exchange- 
traded fund (ETF) tied to XRP, extending its review period by 45 days. SEC 
Takes Additional 45 Days to Assess Franklin XRP Fund Filing The SEC announced 
Tuesday it will defer its ruling on […]

Regulatory Delay Hits Franklin Templeton’s XRP ETF Listing Bid

**Key takeaways:**
 * Bitcoin tends to rally significantly when low leverage meets stronger-than-expected retail sales and hawkish Federal Reserve signals.
 * In three separate 7-week periods, Bitcoin rose 50% to 84%.
 * Upcoming speeches from Fed Chair Jerome Powell could benefit Bitcoin price.
Bitcoin (BTC) price rallies are frequently linked to investors&#8217; inflation 
concerns or data that surpasses expectations for economic growth, yet clear 
signals of an impending rally are rare. However, a combination of three 
independent events has historically coincided with BTC price surges of 50% or 
more.
_Bitcoin/USD, log scale. Source: TradingView / Cointelegraph_
Significant Bitcoin rallies occur when US Federal Reserve policy expectations 
ease, crypto market leverage is low, and strong retail data supports bullish 
momentum. The last occurrence of these three events saw Bitcoin&#8217;s price climb 
from $40,000 to $73,500 in seven weeks in early 2024.
Comparable gains were recorded in early 2023, when the same three drivers 
aligned, propelling Bitcoin from $16,700 to $25,100 over seven weeks. A third 
example dates back to July 2021, culminating in a 76% price increase.
## Bitcoin gained 84% from Jan. 25, 2024, to March 13, 2024
After stagnating near $43,000 in December 2023, Bitcoin&#8217;s price tested the 
$48,000 level in early January 2024. The failed breakout was followed by a 
sharp drop to $37,800 by late January, just as a seven-week bullish trend 
began. A crucial factor at this stage was the exceptionally low perpetual 
futures funding rate, sitting at 4% per year.
_Binance BTC perpetual futures funding rate, annualized. Source: TradingView / 
Cointelegraph_
Other factors impacting the price reversal was US retail sales data for 
December 2023, released on Jan. 17, 2024, exceeded expectations, rising 0.6% 
month-over-month compared to the 0.4% forecast and US Federal Reserve Chair 
Jerome Powell&#8217;s Jan. 31, 2024 press conference that, signaled a tighter 
monetary stance, with no immediate interest rate cuts in sight.
## Bitcoin gained 50% from Jan. 3, 2023, to Feb. 20, 2023
Prior to this rally, Bitcoin had consolidated below $18,000 for two months, 
resulting in minimal demand for leveraged long positions, as reflected by a 
near-zero perpetual futures funding rate.
_Binance BTC perpetual futures funding rate, annualized. Source: TradingView / 
Cointelegraph_
The landscape shifted on Jan. 3, 2023, when the funding rate on Binance surged 
to 50% within four days. This coincided with stronger-than-expected retail 
sales data for January 2023, which rose 3% month-over-month, outpacing the 
1.9% consensus. Notably, Fed Chair Powell also suggested a tighter monetary 
policy to combat inflation during his speech at Sveriges Riksbank on Jan. 10, 
2023.
## Bitcoin 76% rally: July 20, 2021 &#8211; Sept. 7, 2021
From July 20, 2021, to Sept. 7, 2021, Bitcoin gained 76%. Bitcoin&#8217;s price had 
dropped from $40,000 to below $30,000 over the preceding month, dampening 
market sentiment. Suddenly, the annualized Bitcoin funding rate jumped from 0% 
to 37% in two weeks, while US retail sales data for June 2021 surprised 
economists by increasing 0.6%, even though consensus had predicted a 0.4% 
decline.
During this period, Powell&#8217;s remarks at the Jackson Hole Economic Symposium on 
Aug. 27, 2021, indicated a potential reduction in central bank asset 
purchases, which was a move aimed at curbing inflation.
_**Related:**__**Ray Dalio says global monetary order &#8216;on the brink&#8217; of 
breakdown**_
## Bitcoin&#8217;s next potential upswing
The common thread linking these significant rallies is a reduction in 
expectations for expansionary Federal Reserve policy and initially low 
leverage demand from Bitcoin bulls. When these factors coincide with robust 
retail data, they create ideal conditions for a Bitcoin bull run, as traders 
tend to remain cautious ahead of possible economic downturns.
Looking ahead, Fed Chair Powell is set to speak on June 18 following the 
central bank&#8217;s interest rate decision. Additional key dates include the Beige 
Book release on July 16 and the Jackson Hole Economic Symposium starting Aug. 
21. Monitoring US retail sales data for May, due June 17, and for June, due 
July 15, will also be important.
This article is for general information purposes and is not intended to be and 
should not be taken as legal or investment advice. The views, thoughts, and 
opinions expressed here are the author&#8217;s alone and do not necessarily reflect 
or represent the views and opinions of Cointelegraph.

Bitcoin price always rallies at least 50% after these two patterns emerge

Baby Doge is back at the bottom of its long-standing trading range, 
historically a launchpad for bullish expansion. If accumulation holds here 
again, we may see a repeat move toward the highs. Baby Doge (BABYDOGE) has 
consistently followed a cyclical…

BabyDoge returns to range low: can accumulation spark another rally?

Crypto analyst Crypto Paradise has shattered hopes of an upward trend for the 
XRP price in the short term. This came following his prediction that the 
altcoin could witness a massive crash to a major support level. Analyst 
Predicts XRP Price Crash To $1.6 In a TradingView post, Crypto Paradise 
predicted that the XRP price could crash to the support level at $1.6. This 
came as he suggested that a huge bearish trap could be unfolding right now for 
XRP. This means that the altcoin will simply correct to shake out the bears 
and then witness a bullish reversal. Related Reading: XRP Price Follows 
Bitcoin To Critical Levels, Why $2.24 Is Important However, in the short term, 
the analyst warned that the XRP price is flashing serious warning signs. He 
highlighted the formation of a rising wedge pattern, which increases the 
probability of a bearish move. Crypto Paradise also noted that while analyzing 
the broader market structure, the recent upward trend looks to be a 
retracement within the larger bearish trend. As such, the probability of a 
decline being imminent is still very high. He claimed that if the XRP price 
bounces, grabs liquidity, and starts forming clear bearish patterns from the 
resistance area between $2.4 and $2.5, it could set up an excellent 
opportunity with a high risk-to-reward (RR) ratio for shorts. However, this 
bearish thesis will be invalidated if the price breaks out and closes a candle 
clearly above the resistance zone. If that happens, Crypto Paradise believes 
it would be much smarter to stay patient and wait for a more reliable XRP 
price action setup before considering new trades. The analyst also urged 
market participants to stay disciplined, patient, and smart. He added that it 
is best to stick to the plan and never rush decisions under emotional 
pressure. A Bullish Prediction For The Altcoin In an X post, crypto analyst 
Ali Martinez provided a bullish outlook for the XRP price. He stated that the 
altcoin looks to be breaking out of an inverse head and shoulders pattern, 
with a potential upside target between $2.70 and $2.90. A rally to this $2.90 
target could pave the way for another rally to a new ATH for the altcoin. 
Related Reading: Here’s What Happens If The XRP Price Closes Out This Week 
Above $2.25 Crypto analyst Joe also asserted that the XRP price looks bullish. 
He noted that the inverse Head and Shoulders breakout has been confirmed, 
while a bullish wedge breakout is evident on the charts. Key resistance has 
also flipped to support, and a higher low has formed. In line with this, the 
analyst remarked that momentum is building for a strong move up. At the time 
of writing, the XRP price is trading at around $2.28, down in the last 24 
hours, according to data from CoinMarketCap. Featured image from Adobe Stock, 
chart from Tradingview.com