Once known for crafting Disney-themed souvenirs, SRM Entertainment now holds the keys to one of crypto’s biggest treasury plays. Its rebrand to Tron Inc. and Nasdaq ticker switch to &#8220;TRON&#8221; marks a corporate metamorphosis few saw coming, least of all…

SRM rebrands as Tron Inc. in one of crypto’s strangest public transitions

Bitcoin price started a downside correction from the $123,200 zone. BTC is now 
consolidating below $120,000 and might attempt a fresh increase. Bitcoin 
started a fresh decline from the new all-time high near $123,200. The price is 
trading below $119,500 and the 100 hourly Simple moving average. There is a 
rising channel forming with support at $118,200 on the hourly chart of the 
BTC/USD pair (data feed from Kraken). The pair might start another increase if 
it clears the $120,000 resistance zone. Bitcoin Price Hits Support Bitcoin 
price started a downside correction from the new all-time high at $123,200. 
BTC dipped below the $122,000 and $120,000 support levels to enter a short- 
term bearish zone. The price traded below the 23.6% Fib retracement level of 
the upward move from the $108,636 swing low to the $123,140 high. However, the 
downside was limited and the price found support near the $115,800 zone. The 
bulls protected a move below $118,000. The price stayed above the 50% Fib 
retracement level of the upward move from the $108,636 swing low to the 
$123,140 high. Bitcoin is now trading below $119,500 and the 100 hourly Simple 
moving average. There is also a rising channel forming with support at 
$118,200 on the hourly chart of the BTC/USD pair. Immediate resistance on the 
upside is near the $119,200 level. The first key resistance is near the 
$119,500 level. The next resistance could be $120,000. A close above the 
$120,000 resistance might send the price further higher. In the stated case, 
the price could rise and test the $121,200 resistance level. Any more gains 
might send the price toward the $122,000 level. The main target could be 
$123,200. More Losses In BTC? If Bitcoin fails to rise above the $120,000 
resistance zone, it could continue to move down. Immediate support is near the 
$118,200 level and the channel. The first major support is near the $116,500 
level. The next support is now near the $115,500 zone. Any more losses might 
send the price toward the $113,500 support in the near term. The main support 
sits at $110,500, below which BTC might continue to move down. Technical 
indicators: Hourly MACD – The MACD is now losing pace in the bearish zone. 
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 
level. Major Support Levels – $118,200, followed by $115,500. Major Resistance 
Levels – $120,000 and $122,000.

Bitcoin Price Pauses for Breath—Consolidates Gains Before Next Big Move?

XRP rockets into the spotlight as Proshares launches a 2x leveraged ETF, 
offering traders amplified exposure to crypto price swings through a 
regulated, futures-backed product. Proshares Launches Leveraged XRP ETF With 
2x Daily Performance Exposure Investor enthusiasm for XRP is fueling the 
creation of regulated financial products that provide access to its price 
movements. Asset […]

XRP Exposure Gets Institutional Boost With Proshares Leveraged ETF Launch

Ethereum is flashing signs of an aggressive upside move, with well-known 
crypto analyst Kaleo (@CryptoKaleo) forecasting what he described as a “God 
candle” that could propel ETH beyond the $4,000 mark within days. In a post on 
X, Kaleo wrote: “God candle to $4K+ this week… honestly though I wouldn&#8217;t be 
surprised if we see something like this play out after today’s news. Don&#8217;t let 
them shake you out if it happens anon. up only soon.” In Kaleo’s chart, the 
Ether–USDT pair is sketched inside an ascending wedge whose upper boundary has 
capped every rally for more than three months. That resistance line now sits 
near $3,000, while the lower boundary originates near $1,450 in early April 
and accelerates through $2,600 by late June. Ethereum Breakout Fuels $4,000 
Hopes The pattern briefly failed in mid-June, when price sliced through 
support and bottomed near $2,100—an episode Kaleo tags “Breakdown.” Three week 
later the market closed decisively back above that very line, an event he 
annotates “Reclaim,” converting former support turned resistance back into a 
springboard. Related Reading: Ethereum Shorts Reach Record Levels, How To Stay 
Positioned For A Breakout Candles since the reclaim have marched steadily 
higher, compressing volatility against the wedge’s apex until earlier this 
week when price punched through the ceiling at roughly $3,030. At the moment 
the screenshot was taken the pair traded near $3,041, and a hand-drawn white 
projection—labelled “Send”—plots a near-vertical advance that crests just 
above $4,000. The projection takes its height from the widest section of the 
wedge: the distance between the early-May trough and the mid-May swing high 
measures a little over $1,000; adding that amplitude to the breakout point 
delivers a classical measured-move objective in the low-$4,000s, matching 
Kaleo’s target. Related Reading: SharpLink Gaming Buys $73M in Ethereum – 
Smart Money Loads the Dip Also importantly, price has reclaimed the 
psychological $3,000 handle on convincing momentum, turning what had been the 
midpoint of the range into fresh support. Intermediate friction zones appear 
near $3,344–the 0.618 Fibonacci retracement also known as the “golden pocket– 
but the projection assumes these levels will offer little resistance should a 
“god candle” materialise. Kaleo’s prediction comes on the heels of a broader 
risk‑on backdrop: Bitcoin is accelerating towards its record high near 
$123,000 from last week as investors embrace a steadier macro environment. For 
Ether specifically, enthusiasm has been amplified by an SEC filing revealing 
that Peter Thiel’s Founders Fund accumulated a 9.1 percent stake in Bitmine 
Immersion Technologies, the Tom Lee‑chaired public company that has stockpiled 
more than 163,000 ETH—roughly half a billion dollars’ worth—as part of an 
aggressive Ethereum‑treasury strategy. The twin tailwinds of macro‑driven 
liquidity and high‑profile venture endorsement reinforce Kaleo’s thesis that a 
“god candle” toward the $4,000 mark could ignite before the week draws to a 
close. At press time, ETH traded at $3,225. Featured image created with 
DALL.E, cart from TradingView.com

Ethereum Could Shoot Above $4,000 This Week, Predicts Analyst

On Wednesday, shares of the business intelligence and bitcoin treasury firm 
Strategy climbed to a record $455.90, pushing the company’s market 
capitalization to a significant $124.64 billion. Strategy’s Stock Hits New 
High Backed by Massive Bitcoin Treasury Market stats reveal that Strategy’s 
MSTR shares on Nasdaq hit $455.90 at Wednesday’s close, rising more than 3% 
[…]

Strategy, the Nasdaq-Listed Firm With 600,000+ BTC, Hits Record Market Cap

The Bitcoin price has been cooling off on low timeframes, while the altcoin 
markets take advantage to trend higher. The top cryptocurrency has been 
struggling as major holders take profit at BTC’s current level. Related 
Reading: Altcoin Season Index Spikes Above 30, But Bitcoin Dominance Remains 
High, What Next? At the time of writing, the Bitcoin price trades around 
$118,800 with a 2% gain over the last 24 hours and a 9% gain over the past 
week, according to data from CoinGecko. Conversely, Ethereum, XRP, and 
Dogecoin have seen gains north of 16% on similar timeframes. BTC&#8217;s price 
trends to the upside on the daily chart. Source: BTCUSD on Tradingview Bitcoin 
Price At Critical Levels, More Gains On The Horizon Following a major upside 
push from below $100,000, the Bitcoin price broke a persistent downtrend and 
managed to hit a fresh all-time high close to its current levels. As 
mentioned, a report from on-chain analytics firm Glassnode claimed an increase 
in profit taking from short-term holders. As these players exited the market, 
taking over $3.5 billion in profits in just 24 hours, the Bitcoin price lose 
steam and began moving sideways. While Bitcoin has been on a violent bull run, 
there are still fears of a major pullback from the $118,000 area to the 
support zone at around $110,000. However, a report from CryptoQuant, with data 
from top analyst Crypto Dan, suggests that the Bitcoin bull run still has some 
room for another leg up. As seen in the chart below, the current BTC market is 
nowhere near the overheated levels recorded in March and December of 2024. 
BTC&#8217;s Realized Cap Age Bands as measured by UTXOs far from previous bear 
market levels. Source: Crypto Dan via CryptoQuant The CryptoQuant post stated 
the following, sharing an insight from Crypto Dan: (…) unlike in March and 
December 2024, on-chain data indicating market overheating shows that the 
market still hasn’t reached an overheated state. Despite the price rising even 
higher, the fact that overheating has significantly decreased compared to 
previous short-term peaks suggests that Bitcoin could continue to break all- 
time highs and rise significantly in the second half of 2025, leaving strong 
potential for growth. Bitcoin Bull Run Far From Over? In this context, and if 
bulls are able to sustain the momentum, Bitcoin is likely heading for higher. 
As NewsBTC covered earlier, a prediction from a top analyst claims that the 
levels of BTC adoption are unprecedented. Related Reading: This Fibonacci 
Level Puts The Dogecoin Price Above $10 This Cycle As such, the analyst said 
that the ‘real Bitcoin move’ is only about to begin. The analyst stated: I 
have a high degree of confidence that we’ll see $400k by the end of this year. 
This target might be too conservative. Cover image from ChatGPT, BTCUSD chart 
from Tradingview