ETH holds on to the bulk of its weekly gains, while BTC and altcoins sell off.

Ethereum futures data and network activity growth back ETH’s price strength

Over the weekend, Bitcoin’s price extended its disappointing performance, 
falling to around $103,000 in the early hours of Saturday, May 31st. While the 
premier cryptocurrency seems to have recovered fine in the past day, its price 
is still more than 6% away from the recently achieved all-time high of 
$111,814. Interestingly, the latest on-chain data suggests that the Bitcoin 
price could resume its upward trajectory anytime from now. Mass Long 
Liquidations Could Mean Sustained Upward Trend For BTC In a Quicktake post on 
the CryptoQuant platform, on-chain analyst Burak Kesmeci shared that the 
Bitcoin market witnessed its third-largest long liquidation in the month of 
May. Data from CryptoQuant shows that $202 million in BTC long positions were 
liquidated on the Binance derivatives exchange on Friday, May 30th. Related 
Reading: Is Bitcoin Price Doomed For $93K? Technical Indicators Paint A 
Bearish Image As highlighted by Kesmeci, leveraged trading and speculative 
pressure ramped up on the world&#8217;s largest crypto exchange as the price of 
Bitcoin rallied from around $94,000 to a new record high above $111,000. These 
long liquidations typically occur when derivatives traders are forced to close 
their positions as prices move sharply against them, leading to automatic 
sell-offs that can further trigger volatility in both directions. The latest 
event — involving $202 million worth of BTC long positions — is the third- 
largest in the past month, trailing only two larger liquidations in May: $211 
million on May 12 and $277 million on May 23. This series of high-value 
liquidations reflects the increased speculative activity in the Bitcoin market 
over the past few weeks. While the investors who suffered this liquidation may 
feel hard done by the market, these mass liquidations could be positive for 
the flagship cryptocurrency — a healthy reset for what is starting to feel 
like an overheated market. By removing excessive leverage, the Bitcoin market 
can reestablish a more stable foundation for price discovery and a continued 
upward trend. Bitcoin Funding Rates Still Very Low: Analyst According to 
another on-chain analyst with the pseudonym Darkfost, the Bitcoin funding 
rates are still at extremely low levels. This trend signals the unwillingness 
and hesitation of traders to open new long positions, read the post on X. 
Darkfost added: Typically, when Bitcoin breaks above its previous all-time 
high, we tend to see a surge in funding rates, signaling that euphoria and 
risk appetite are back. But that’s not what we’re seeing right now, investors 
need more clarity before jumping in with conviction. The on-chain analyst 
stated that this cautious stance of investors could be positive for the 
Bitcoin price and the upward trend. Moreover, the lack of euphoria reflects a 
market that is yet to be overheated, with room for further upside growth. As 
of this writing, the price of BTC stands at around $ 104,897, reflecting a 
mere 0.2% increase in the past 24 hours. Related Reading: Bitcoin Sharpe Ratio 
Says It’s Time For ‘Cautious Optimism’ — Further Upside Growth Incoming? 
Featured image from iStock, chart from TradingView

$202 Million In Long Liquidations Rock Bitcoin Market — What’s Next For BTC Price?

Ross Ulbricht, the recently freed founder of the Silk Road marketplace, has 
received a donation of 300 BTC, valued at over $31 million, to his designated 
donation wallet. The substantial contribution comes as Ulbricht seeks support 
following his release from prison, where he served a lengthy sentence for his 
role in operating the dark web […]

Ross Ulbricht Given 300 Bitcoin Donation

Solana (SOL) has remained under the radar in recent weeks, with market 
attention primarily centered on Bitcoin and Ethereum. While the broader crypto 
market digests recent volatility, SOL has been quietly consolidating just 
below key resistance. This silence, however, might not last much longer. Top 
analysts are starting to turn their focus back to Solana, suggesting that a 
powerful move could be brewing. Related Reading: Ethereum Bulls Defend Support 
– Key Indicator Hints At Short-Term Rally According to analyst Bluntz, the 
recent price action in SOL is showing promising signs. He notes that after 
sweeping the lows, Solana is now working on a reclaim of support — a classic 
bottoming pattern that often precedes a strong rebound. Although it&#8217;s still 
early days, this reaction could lay the foundation for a sharp rally if SOL 
manages to break back above the $160–$165 range. The sentiment echoes a 
broader belief among market watchers that Solana could become a major leader 
in the next leg of the altseason, especially if Ethereum breaks out from its 
current resistance. As bullish structure builds and technical indicators begin 
to align, the setup for SOL appears to be quietly strengthening, making it a 
key altcoin to watch in the coming weeks. Solana Setup For Breakout Remains 
Strong Solana (SOL) has been on a consolidation path over the past few weeks, 
struggling to reclaim the $180 resistance level. After peaking in early May, 
SOL has retraced steadily, now trading around the $150 range as it searches 
for renewed demand. This retracement aligns with a broader market pullback, as 
global tensions — especially surrounding US–China tariffs and rising interest 
rates — inject volatility and caution into financial markets. Despite the 
current slowdown, analysts remain optimistic about Solana’s medium-term 
outlook. Top trader Bluntz recently shared that SOL’s reaction after taking 
the lows is promising. According to him, the altcoin is now working on a 
reclaim of support, which could be the precursor to an aggressive rally. The 
key lies in whether Solana can push back above the $180 zone — an area of 
heavy supply that has repeatedly rejected bullish momentum. If SOL does manage 
to flip this level into support, the price structure suggests there’s ample 
room for a sharp breakout. The setup aligns well with rising calls for an 
altseason, particularly if Bitcoin dominance continues to roll over and 
Ethereum confirms a breakout above its multi-month resistance. In this 
scenario, Solana could emerge as one of the leading assets in the next crypto 
leg up, given its strong developer ecosystem, scalability, and growing DeFi 
sector. While current price action remains neutral to slightly bearish, a 
reclaim of $180 would likely flip sentiment quickly and attract fresh capital. 
As market focus shifts from major caps like BTC and ETH, SOL could be poised 
to capture the spotlight — and potentially lead the next altcoin rally. 
Related Reading: Solana Flashes Buy Signal – $159 Support Key For Rebound SOL 
Tests Key Support As Price Action Stalls Below $160 Solana (SOL) is currently 
trading at $154.47 after losing the $160 support, facing continued pressure 
following its rejection from the $180 resistance level earlier in May. The 
chart shows that SOL is now hovering just below the 34-day EMA and the 50-day 
SMA, indicating a breakdown in short-term bullish momentum. Volume has also 
decreased, signaling hesitation from both buyers and sellers amid broader 
market uncertainty. The 200-day moving average at $179.73 remains the major 
resistance level to reclaim in order to resume a bullish structure. Meanwhile, 
the zone between $150 and $156 is now acting as a critical demand area. A 
sustained close below $150 could open the door for deeper corrections, 
possibly toward the $140-$130 range, which aligns with previous consolidation 
levels in April. Related Reading: Ethereum Daily Gas Usage Hits New Highs – 
Real Demand Powers ETH Growth Despite the current weakness, the longer-term 
trend remains neutral-to-bullish as long as Solana holds above the 100-day SMA 
around $144.58. If SOL can consolidate and reclaim the $160–$165 region, it 
could trigger renewed upside momentum and challenge the $180 level once again. 
Analysts remain cautiously optimistic, with some expecting a rebound if market 
conditions stabilize and altseason momentum picks up in the coming weeks. 
Featured image from Dall-E, chart from TradingView

Solana Reclaims Key Support After Sweeping Lows – Early Signs Of Reversal?

French prosecutors charged 25 people over a wave of crypto-related 
kidnappings. However, the masterminds remain at large.

France charges 25 over crypto kidnapping spree in Paris

Ethereum is holding strong above the $2,500 level, showing resilience as the 
broader crypto market undergoes a healthy pullback. Despite recent volatility, 
ETH continues to trade within a bullish structure, fueling optimism that it 
could lead the next leg of the market’s rally. Analysts are closely watching 
Ethereum’s price action, calling for a potential breakout that might set the 
tone for an anticipated altseason. Related Reading: Solana Flashes Buy Signal 
– $159 Support Key For Rebound Top analyst Ted Pillows shared key insights, 
noting that Ethereum is down just 10% from its local highs, yet up nearly 50% 
this month alone. This strong monthly performance is a clear indication that 
Ethereum remains in an uptrend, even as short-term corrections occur. 
According to Pillows, this kind of price behavior—holding steady while the 
market resets—often precedes aggressive moves, particularly if Ethereum can 
reclaim higher resistance levels in the coming days. With Bitcoin 
consolidating below its all-time highs and market participants eyeing renewed 
capital rotation into altcoins, Ethereum is well-positioned to act as a 
catalyst. A decisive move above $2,700 could validate the bullish outlook and 
trigger broader momentum across the altcoin market. For now, Ethereum’s 
relative strength continues to stand out amid market uncertainty. Ethereum 
Uptrend Holds Firm Despite Global Tensions Ethereum is facing a pivotal test 
as it continues to trade within a tight range since May 10th, hovering between 
key support and resistance zones. While macroeconomic uncertainty weighs 
heavily on traditional markets—driven by rising US Treasury yields and 
geopolitical tensions—Ethereum has shown impressive resilience. Bulls remain 
confident that ETH has room to push higher, supported by strong fundamentals 
and improving investor sentiment. Pillows highlights that despite a recent 10% 
pullback from local highs, Ethereum is still up nearly 50% this month. This 
sharp monthly gain clearly indicates that ETH remains in a strong uptrend, 
even as volatility tests short-term conviction. The fact that ETH has 
maintained higher lows throughout this range-bound structure reinforces the 
idea of accumulation, not distribution. Beyond price action, on-chain and 
institutional signals point toward sustained demand. ETF inflows for Ethereum 
have begun to pick up, albeit at a slower pace than Bitcoin’s. However, due to 
Ethereum’s smaller market cap, these flows have a more pronounced impact. 
Additionally, multiple firms are reportedly raising over $1 billion to acquire 
ETH, signaling long-term confidence in the asset’s role in the evolving 
digital economy. Pillows sees the stage set for Ethereum&#8217;s next major leg up. 
If the $2,700–$2,850 resistance zone is broken with conviction, it could 
trigger a strong rally that positions ETH as a leader in a potential 
altseason. For now, Ethereum’s steady hand in turbulent times is a bullish 
signal in itself. Related Reading: Ethereum Bulls Defend Support – Key 
Indicator Hints At Short-Term Rally Ethereum Weekly Chart Holds Firm Ethereum 
is showing resilience on the weekly chart, trading at $2,509 after reaching a 
high of $2,789 earlier in the week. While the price has pulled back slightly, 
it remains firmly above the 200-week SMA ($2,452) and the 34-week EMA 
($2,498), which is a strong sign of underlying bullish structure. This area is 
now acting as solid support after ETH&#8217;s 50% rally off the April lows. What’s 
technically notable is that ETH is challenging the underside of the 100-week 
and 50-week SMAs, both of which have previously acted as resistance throughout 
this cycle. A close above $2,725 would mark a significant shift in trend, 
confirming bullish continuation and opening the door for a test of the 
$3,000–$3,200 zone. Related Reading: Ethereum Pulls Back To 20DMA After $2,700 
Rejection: Testing Strength At Key Support Volume has slightly decreased from 
the breakout candle three weeks ago, suggesting consolidation rather than 
weakness. Bulls want to see ETH reclaim the $2,725 level with conviction to 
spark momentum. Until then, the current structure favors a slow grind higher 
unless macro volatility accelerates. Featured image from Dall-E, chart from 
TradingView