The incident highlights the urgent need for robust cybersecurity measures to protect financial markets from manipulation and fraud. The post Man gets 14 months in jail for role in SEC&#8217;s X account hack that pumped fake Bitcoin ETF hype appeared first on Crypto Briefing.

Man gets 14 months in jail for role in SEC’s X account hack that pumped fake Bitcoin ETF hype

Amid its breakout, Solana memecoin Dogwifhat (WIF) eyes a reclaim of $1.50 and 
a continuation of its bullish rally. Some analysts suggest that new highs are 
bound to come if the token holds above a crucial level. Related Reading: 
Bitcoin Next Leg Up Loading? Analyst Says BTC Could Trade Sideways For Two 
Weeks Dogwifhat Reclaims $1.00 Over the past month, dogwifhat has seen a 
massive 190% surge, climbing back to the $1.00 barrier. The memecoin has been 
in a downtrend since hitting its Q4 2024 high of $4.19 in November, retracing 
over 92% in five months. After the TRUMP memecoin and LIBRA token 
controversial launches, the sector faced market exhaustion, with most 
memecoins struggling during the Q1 2025 retraces. As a result, WIF lost the 
$1.00 mark for the first time in a year. Amid last month’s pullbacks, 
dogwifhat hit a 14-month low of $0.32 before the crypto market recovery 
started, but jumped to the $0.60 support at the end of April. Since then, WIF 
has soared over 70%, reclaiming the key $1.00 resistance on Monday. This week, 
the memecoin has hovered between the $1.00-$1.20 price range after hitting a 
three-month high of $1.32 four days ago. Additionally, it retested the 
recently reclaimed level as support after bouncing from the $0.95 level on 
Thursday. Market watcher Rose Premium shared a technical outlook for the 
cryptocurrency, noting a bullish structure after its recent performance. The 
trader explained that dogwifhat shows “a classic bullish structure after 
rebounding from the Fibo Zone,” between the $0.95-$0.98 range. Based on this, 
WIF’s trend continuation is likely if the memecoin holds the $1.00 level as 
support. This could propel the token toward an initial target of $1.15, before 
reclaiming the $1.26 level and finally reclaiming the $1.37 mark. WIF Breakout 
Eyes $1.50 Trader Coinvo suggested that WIF’s “classic break and re-test 
pattern” is “guaranteed” to send the memecoin’s price in a parabolic rally. 
Similarly, analyst Carl Runefelt from The Moon Show affirmed that dogwifhat is 
“potentially ready to continue its rally to new highs.” Per the chart, WIF has 
been in a symmetrical triangle pattern over the past week, with price breaking 
out of the upper boundary after surging above the $1.05 level. According to 
the formation, the cryptocurrency targets $1.50 if the breakout is confirmed. 
This level has been a crucial horizontal level, serving as a key bounce area 
during the 2024 retraces, and could propel dogwifhat to higher targets if 
reclaimed. Related Reading: Avalanche (AVAX) Eyes 30% Rally Amid Cup-And- 
Handle Pattern Breakout Meanwhile, analyst The Cryptonomist highlighted a 
falling wedge pattern in WIF’s lower timeframe chart. The memecoin broke out 
of the 3-day pattern after today’s bounce, breaking out of the upper boundary 
after reclaiming the $1.03 mark. The analyst stated that WIF could target the 
$1.49 resistance area if it holds its current levels and the entire market 
“goes for another leg up from here.” As of this writing, dogwifhat trades at 
$0.14, a 1.8% increase in the daily timeframe. Featured Image from 
Unsplash.com, Chart from TradingView.com

Dogwifhat (WIF) Targets $1.50 Amid 50% Weekly Jump – Here Are The Levels To Watch

Alexander Leishman, CEO of River, a financial company that provides zero-fee 
bitcoin recurring purchases services, has highlighted how businesses are 
increasingly adopting bitcoin as part of their corporate treasury strategy. On 
social media, Leishman revealed that several companies had enrolled River as 
part of their bitcoin accumulation processes. He noted that just in the last 
[…]

River CEO: Businesses Increasingly Buying Bitcoin

Panama City Mayor Mayer Mizrachi has hinted at establishing a city-level 
Bitcoin reserve in a cryptic post following his meeting with two of El 
Salvador&#8217;s Bitcoin policy leaders.
&#8220;Bitcoin Reserve,&#8221; Mizrachi wrote to X on May 16 after meeting El Salvador- 
based Bitcoiners Max Keiser and Stacy Herbert.
While Mizrachi didn&#8217;t share details about his discussions with Keiser and 
Herbert, the timing of the post came 11 days before the Bitcoin 2025 
conference in Las Vegas, where Mizrachi is scheduled to speak.
_Source:__Mayer Mizrachi_
The creation of a Bitcoin reserve in Panama City would follow a recently 
approved measure permitting the use of crypto for public payments, including 
taxes, fines and municipal fees.
Bitcoin (BTC), Ether (ETH), Tether (USDT) and USDC (USDC) will be accepted 
once the crypto-to-fiat payment rails are established, Mizrachi said at the 
time.
To push for a Bitcoin reserve at the federal level, Mizrachi would need to 
collaborate with Panama&#8217;s National Assembly to craft legislation.
There&#8217;s no evidence to suggest that he has taken such measures.
Mizrachi&#8217;s post follows the recent enactments of two Bitcoin reserve bills in 
the US states of Arizona and New Hampshire.
Ukraine is also reportedly inching closer toward adopting Bitcoin as a 
national reserve asset, local media reported earlier in the month.
## Mizrachi, Keiser and Herbert discussed Bitcoin mining, education
A post from Keiser suggests the trio spoke about how Panama and El Salvador 
can leverage renewable energy to bolster their Bitcoin mining operations.
&gt; &#8220;Bitcoin is transforming Central America. El Salvador&#8217;s geothermal &amp; 
&gt; Panama&#8217;s hydro-electric will power the Bitcoin revolution.&#8221;
Herbert also noted that Panama City will integrate El Salvador&#8217;s &#8220;What is 
Money?&#8221; financial literacy textbook into its online library system.
_**Related:**__**Basel Medical shares down 15% on $1B Bitcoin buying plans**_
Keiser and Herbert have played a crucial role in crafting El Salvador&#8217;s 
Bitcoin policy, which includes a Bitcoin reserve consisting of 6,179 Bitcoin 
(BTC), worth nearly $640 million.
Keiser serves as President Nayib Bukele&#8217;s Bitcoin advisor, while Herbert runs 
the country&#8217;s Bitcoin Office.
_**Magazine:**__**Danger signs for Bitcoin as retail abandons it to 
institutions: Sky Wee**_

Panama City mayor teases Bitcoin reserve after meeting El Salvador's Bitcoin leaders

Bitcoin experienced a notable surge earlier this week, climbing above the 
$104,000 mark and registering a weekly gain of nearly 10%. However, after 
reaching this level, the asset appears to have encountered resistance, with 
upward momentum slowing and price action remaining relatively flat in recent 
days. At the time of writing, BTC is trading at $103,663, reflecting a modest 
1.7% increase over the past 24 hours. Amid this price performance, one of 
CryptoQuant’s top analysts, Darkfost, offered insight into the current market 
stagnation. Related Reading: Bitcoin Rally Stalls as SOPR Spikes: Analyst 
Explains What It Means Derivatives Market Activity Signals Short-Term 
Uncertainty According to his post on X, the root of the slowdown appears to 
stem from the derivatives market. Specifically, he pointed to the cumulative 
net taker volume, a metric that tracks the net volume of market orders, 
remaining in negative territory since BTC crossed above the psychological 
$100,000 threshold. This suggests that there are more aggressive sell orders 
(shorts) than buy orders (longs), creating persistent downward pressure on 
price. Net taker volume is a useful gauge of real-time trader sentiment, and 
when it trends negative, it typically signals that market participants expect 
prices to drop, prompting more short-selling. 📊 The main reason why BTC is 
currently stuck at these levels comes from the derivatives market. 💥The 
cumulative net taker volume has mostly remained in negative territory ever 
since BTC climbed back above the psychological $100 000 level. &#8211; What does 
this mean ? ⁰In simple… pic.twitter.com/2ABZ3qzQ0s — Darkfost (@Darkfost_Coc) 
May 16, 2025 Darkfost emphasized that this trend reflects increasing 
uncertainty among traders about Bitcoin&#8217;s short-term ability to reach new all- 
time highs. While long-term sentiment remains positive, the imbalance in 
derivatives activity highlights a cautious approach among participants. &#8220;It 
clearly reflects a growing sense of doubt among traders regarding Bitcoin’s 
ability to reach a new all-time high in the very short term,&#8221; he stated. &#8220;In 
such a context, the market loves to prove them wrong.&#8221; This sentiment-driven 
hesitation has slowed the pace of Bitcoin’s rally, even as it remains within 
striking distance of its January high. Bitcoin Technical Setup Hints at 
Bullish Continuation Meanwhile, technical analyst Javon Marks pointed to chart 
patterns suggesting a potential continuation of Bitcoin’s bullish trend. He 
highlighted the formation of a bull flag, a technical pattern often 
interpreted as a pause before the continuation of an upward movement. &#8220;Bitcoin 
looks to be bull flagging right under all-time highs. A breakout can send it 
above,&#8221; Marks wrote. Related Reading: Galaxy CEO Novogratz Sees Imminent 
Bitcoin Breakout To $130,000 If confirmed, this could signal renewed upward 
pressure and open the door for another leg higher. Additionally, Marks noted 
that altcoins are exhibiting similar behavior to previous market cycles, 
particularly the surges seen in 2017 and 2021. He suggested that the current 
phase may precede a broader altcoin rally, which historically tends to follow 
Bitcoin’s moves. Altcoins look to be moving similarly and right on track as it 
did in the 2017 and 2021 surges. The next phase looks to be where #Altcoins 
deliver the green light, or in other words push in their most bullish phases. 
This can SEND ALTS MUCH HIGHER, FAST 🟢! pic.twitter.com/2wrr0WOTzB — 
JAVON⚡️MARKS (@JavonTM1) May 16, 2025 Featured image created with DALL-E, 
Chart from TradingView

Bitcoin Rally Hits Wall as Price Stalls Below $104K, Analyst Cites Derivatives Pressure

Binance&#8217;s founder has urgent advice for crypto users: strengthen logins, avoid 
risky clicks, and adopt advanced security tools to stay ahead of relentless 
phishing threats. CZ Shares Crucial Tips to Stop Phishing Scams Targeting 
Crypto Users Binance co-founder and former CEO Changpeng Zhao (CZ) shared on 
social media platform X on Thursday a detailed set […]