Abraxas Capital has withdrawn 138,511 ETH, worth $297 million, from centralized exchanges over the past two days. According to data from Lookonchain, the London-based asset management firm’s activity coincides with a sharp surge in Ethereum’s (ETH) price, which jumped over…

Abraxas Capital withdraws $297M in ETH, signaling a bullish market shift

Bitcoin has surged to $104,300, confirming the uptrend and reinforcing the 
bullish outlook that many analysts projected for 2025. This move places BTC 
deep into range-highs territory, with the next major challenge now clearly in 
sight: the all-time high at $109,000. The market’s strength comes on the back 
of strong technical performance and increasingly optimistic sentiment, as BTC 
continues to lead the crypto rally and altcoins follow suit. Related Reading: 
Cardano Approaches Critical Resistance – Break Above Could Trigger Move To 
$0.80 On-chain data from CryptoQuant adds further weight to the bullish 
narrative. One standout metric highlights the growing confidence among large 
holders: the absolute difference between the Realized Price of new whales and 
old whales now stands at $59.7K. Specifically, new whales have entered the 
market at an average price of $91.9K, while old whales&#8217; basis remains at 
$32.2K. This translates to a 185% relative spread to the long-term holder 
(LTH) basis—a massive divergence. This wide gap signals that a new wave of 
high-conviction buyers is entering the market at significantly elevated 
prices. Unlike the cautious whale accumulation during previous cycle lows, 
this phase reflects strong belief in continued upside, even at premium levels. 
It’s a clear sign that institutional FOMO may be kicking in. Bitcoin Faces 
Resistance At $104K As Whale Activity Signals Growing FOMO Bitcoin is 
currently encountering resistance around the $104,000 mark—a level that may 
take time to break as it represents a critical barrier before entering price 
discovery above the all-time high near $109,000. The recent rally has shown 
remarkable strength, but as BTC consolidates just below its ATH, some selling 
pressure is expected. A successful breakout could lead to a swift surge beyond 
$109K; however, failure to do so may result in short-term consolidation or 
retracement. Top analyst Axel Adler shared key on-chain insights on X that 
highlight the evolving psychology of Bitcoin&#8217;s largest holders. According to 
Adler, the absolute difference between the Realized Price of new whales 
($91.9K) and old whales ($32.2K) is $59.7K, representing a 185% relative 
spread to the long-term holder (LTH) basis. This sharp divergence reveals that 
new “whales” are entering the market at nearly three times the price of early 
entrants. In comparison, the same spread in November 2022 was only 62%, 
indicating more cautious accumulation near the market bottom. The current 
surge to 185% reflects rising confidence and FOMO, with large buyers willing 
to accumulate even at elevated prices. For context, during the 2021 cycle peak 
at $63K, the spread widened to 437%. Related Reading: Ethereum ‘Extremely 
Undervalued Against BTC’ – Supply Pressure May Delay Recovery This trend 
suggests that the market is entering a more aggressive accumulation phase, 
where belief in higher prices is driving demand despite the premium. If bulls 
manage to absorb the resistance around $104K, it could mark the start of a 
parabolic move—fueled not just by momentum, but by conviction from both retail 
and institutional players betting on a new Bitcoin all-time high. BTC Price 
Analysis: Key Levels To Watch Bitcoin is trading around $103,000 after 
reaching a high of $104,300 earlier today. The 4-hour chart shows BTC facing 
resistance at the $103,600 level, which aligns with a key supply zone from 
late December 2024 and early January 2025. This area acted as a previous 
rejection point during the last major rally and is now being tested again as 
potential resistance. BTC’s recent surge from the $87K–$90K consolidation zone 
has been aggressive, breaking above both the 200 EMA and 200 SMA (currently at 
$91,806 and $89,400, respectively) with strong volume. This confirms bullish 
strength and trend continuation, suggesting that buyers are still in control. 
However, the current range between $103K and $104K is historically 
significant, and bulls may need to absorb selling pressure before attempting a 
move toward the all-time high near $109K. Related Reading: XRP Bulls Expect A 
Breakout As Price Compresses Between Key Levels – Details If BTC consolidates 
above $100K and holds this level as new support, it would strengthen the case 
for continued upside. On the flip side, failure to break above $103,600 
cleanly could lead to a short-term pullback. Market structure remains bullish 
overall, but this resistance zone will be critical in determining whether 
Bitcoin enters price discovery or pauses for accumulation. Featured image from 
Dall-E, chart from TradingView

Bitcoin Whale Entry Prices Diverge Sharply – Confidence Builds At Higher Levels

U.S. banks get green light to expand crypto services with fresh OCC guidance 
fueling regulatory clarity and innovation in digital assets. New OCC Guidance 
Expands Crypto Role for Banks The Office of the Comptroller of the Currency 
(OCC) announced on May 7 the release of Interpretive Letter 1184, offering 
fresh guidance that reaffirms national banks’ […]

Banks Just Got the Green Light: OCC Clears Crypto Trading Role

Microsoft-backed Space and Time has launched its public and permissionless 
mainnet, which is designed to deliver zero-knowledge (ZK)-proven data directly 
to smart contracts. Empowering Developers to Build Secure, Data-Driven Onchain 
Applications Space and Time, a blockchain platform backed by tech giant 
Microsoft, has officially launched its public and permissionless mainnet. The 
platform is designed to […]

Microsoft-Backed Space and Time Launches Mainnet for Zero-Knowledge-Proven Data

Goldman Sachs&#8217; increased investment in Bitcoin ETFs signals growing 
institutional confidence, potentially driving further market adoption.
The post Goldman Sachs doubles down on BlackRock&#8217;s Bitcoin ETF, boosting 
holdings to $1.4B in Q1 2025 appeared first on Crypto Briefing.

Goldman Sachs doubles down on BlackRock’s Bitcoin ETF, boosting holdings to $1.4B in Q1 2025

The Dogecoin price appears to be on a continued rebound, with bulls regaining 
some control over the market after weeks of sideways trading and downward 
pressure. However, the momentum is being tested as strong resistance builds 
around the $0.205 level. A recent analysis highlights this crucial zone and 
outlines the roadmap for Dogecoin’s next move. Dogecoin Price Recovery Faces 
Critical Resistance TradingView crypto analyst Lingrid recently shared a 
technical analysis featuring a classic continuation pattern unfolding for 
Dogecoin. The analyst revealed that the Dogecoin price is attempting a 
recovery after rebounding from a key ascending trendline and breaking out of a 
Falling Wedge pattern. Related Reading: Dogecoin Price Ready For Next 500% 
Wave, Here’s The Target Following this, Dogecoin is now retesting the breakout 
level around $0.175, where both the wedge resistance and ascending trendline 
converge. The cryptocurrency has also formed a higher low structure on its 
price chart. Notably, this breakout zone is critical, as holding above it 
would confirm the breakout and set the stage for potential gains. Lingrid has 
revealed that traders are currently watching closely for continuation toward 
the next resistance area. The $0.19 level has been set as the next immediate 
breakout target, aligning with the top of the previous range and the midpoint 
of the broader resistance area. A push beyond $0.19 would open the door for a 
run toward the range between $0.2 &#8211; $0.21, a key resistance area where selling 
pressures could intensify. While Dogecoin’s structure remains relatively 
bullish with higher lows forming, Lingrid has also cautioned that overhead 
resistance near $0.19 and $0.2 could slow down the momentum. Notably, 
Dogecoin’s trading volume will also play a key role in its price action and 
future moves. As the price approaches the wedge apex, fluctuations in volume 
could either sustain the strength of the rally or weaken it. DOGE To Decline 
Further If Support Fails Since the beginning of this year, the Dogecoin price 
has recorded its fair share of unexpected price declines and volatility. While 
Lingrid’s analysis shares encouraging signs of a potential price recovery and 
bull rally, Dogecoin’s breakout remains at risk. Related Reading: Dogecoin 
Price Poised For Breakout Amid Accumulation, Here’s The Target If its price 
fails to hold the critical support zone at $0.175, especially with a strong 
candle close below this level, the projected breakout could be invalidated. 
This would, in turn, potentially lead to a steeper price breakdown toward 
$0.15, representing a 25% decrease from its current market value of $0.2. 
Lingrid also mentions that a failure to maintain buyer interest near the wedge 
apex and weakening volume could also contribute to market indecision, making a 
swift recovery less likely. As a result, traders are advised to watch the 
$0.175 zone closely as a key breakout point that will determine whether 
Dogecoin resumes its climb or faces renewed downward pressure. Featured image 
from Getty Images, chart from Tradingview.com