China’s plan to liquidate confiscated crypto through Hong Kong exchanges isn’t simply a policy — it’s to control global digital asset markets and outmaneuver the US.

China’s crypto liquidation plans reveal its grand strategy

The crypto market took a sharp turn lower this week as a cocktail of weak 
economic data and heavy profit-taking sparked a wave of selling.

Bitcoin and the crypto market are in the red today, here’s why

The Bitcoin price surge above $120,000 has reignited speculation about where 
the flagship cryptocurrency stands in the current cycle. While price action 
alone offers only part of the picture, on-chain data from the Satoshimeter 
indicator suggests that Bitcoin is still firmly in the mid-phase of its cycle, 
pointing to significant potential ahead in its long-term trajectory. Bitcoin 
Price Still In Mid-Cycle Stage Bitcoin’s climb from $100,000 to a new ATH 
above $123,000 has brought fresh attention to on-chain metrics used to 
identify the cryptocurrency’s current stage in the present market cycle. Among 
them, the Satoshimeter, an indicator developed by crypto analyst Stockmoney 
Lizard, offers a nuanced look into Bitcoin’s movements and price position. 
Related Reading: Don’t Blink: 1,000 XRP Could Be The Best Move You’ve 
Made—Expert According to the expert’s analysis released on X social media, the 
Satoshimeter signaled that Bitcoin is still far from the euphoric peak zones 
observed in previous bull markets. Stockmoney Lizard also claimed that 
Bitcoin’s rally is in its mid-cycle or intermediate phase rather than the 
final leg of the bull cycle. Supporting this analysis, the Satoshimeter 
employs on-chain metrics to map out Bitcoin’s cyclical behavior, identifying 
both long-term bottoms and tops. Historically, this indicator&#8217;s readings 
around 1.6 have typically marked major bear market bottoms, as seen in the 
price chart in the years 2011, 2015, 2019, and 2022. Higher values, on the 
other hand, previously aligned with cycle peaks and often signaled sharp 
corrections. As of now, the Satoshimeter is still well below the upper 
extremes, signaling that the Bitcoin price is not yet in the overheated zone. 
The analyst’s chart illustrates this trend clearly. Each past market top is 
marked by a steep spike in the indicator, aligning with parabolic price action 
and extreme sentiment. In contrast, current indicator readings are elevated 
but stable, sitting in the mid-range, well below levels seen at past cycle 
tops. This suggests that Bitcoin’s broader bullish structure remains intact, 
with potential for further upside on the table. Bitcoin To Reach $200,000 This 
Cycle? Based on the Satoshimeter’s current level, Stockmoney Lizards projects 
an extended run in the Bitcoin price. While the recent jump above $123,000 
reflects growing momentum, the analyst anticipates a stair-step progression 
toward a potential high of $200,000 before a significant market correction 
sets in. Related Reading: Crypto Disaster: Qubetics Token Crashes Nearly 
100%—Possible Rug Pull This projection is based not only on the readings from 
the Satoshimeter indicator but also on the movements seen in prior cycles, 
where BTC typically moved through multiple phases of accumulation, breakout, 
and parabolic growth. As of writing, the flagship cryptocurrency is trading at 
$113,759, reflecting an 8.3% decline from its all-time high. With $200,000 set 
as its next peak target, this implies a potential rally of more than 75% in 
the current cycle. Featured image from Unsplash, chart from TradingView

Satoshimeter Shows Where Bitcoin Price Is In This Cycle

While the crypto market has dipped another 2.02% in the past 24 hours, now 
sitting at $3.66 trillion, former BitMEX CEO Arthur Hayes reportedly cashed 
out $13.35 million worth of crypto. Hayes replied to a post on X about the 
move, making it clear he still believes bitcoin is headed back to $100,000 and 
ethereum […]

Arthur Hayes Unloads Millions in ETH, PEPE, ENA—Says Bitcoin Will ‘Test $100K’

ZachXBT named some sponsors of Token2049 as sketchy. While these coins may 
have hype-fueled pumps to cult-like followings, they may have no real utility.

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Ethena (ENA) prices are presently in the red zone during a broader crypto 
market correction. According to data from CoinMarketCap, the DeFi token 
recorded a significant 2.00% loss in the past day, with prices presently set 
hovering around $0.55. Amidst this price decline, top market analyst Ali 
Martinez has identified the major support regions that investors should 
monitor in the event of any further price retracement. Related Reading: 
Ethereum Drops 6% After Hitting $3,800, But Analysts See New ATH Ahead Ethena 
CBD Shows Key Price Floors At $0.47, $0.44, And $0.35 According to Martinez, 
the cost basis distribution (CBD) model has revealed the three short-term 
relevant support zones in the ENA market. For context, the CBD model is an on- 
chain framework that visualizes the amount of tokens accumulated at various 
price levels. It is used to identify important price zones, i.e., potential 
support or resistance levels, based on their registered volumes of 
accumulation. In the chart above, it is observed that the more intense 
(warmer) the color, the higher the greater supply concentration of ENA at that 
level. Based on this system, it can be inferred that the immediate support 
levels for ENA currently lie around $0.44 and $0.47, where significant price 
clusters have been formed in the last month. However, if a compelling selling 
pressure forces the ENA price below this support zone, investors should 
anticipate the next price halt around $0.35. This price region is presently 
the strongest support in the Ethena market, as shown by the deepest red 
horizontal bar on the CBD model, which represents an estimated $1 billion ENA 
supply cluster. Notably, a price crash to the $0.35 support zone indicates a 
potential estimated 37.5% loss from current prices. Meanwhile, the CBD model 
also reveals that ENA’s next price resistance sits around the $0.60, at which 
lies the next immediate cluster above the spot price. Related Reading: 
Avalanche (AVAX) DeFi TVL Rises Nearly 40% Following Octane Upgrade Ethena 
Price Outlook At the time of writing, ENA trades at $0.57, reflecting a 2.08% 
decline in the last 24 hours as earlier stated. Meanwhile, the token’s daily 
trading volume is up by 2.05% indicating a slight rise in market engagement 
and transaction volume. According to CoinCodex, investor sentiment remains 
strongly bullish, with 67% of the past month’s trading days closing in the 
green. Additionally, the Fear &amp; Greed Index sits at 65, reflecting a 
relatively strong appetite for risk among investors. However, Coincodex 
analysts hold a cautious market view with predictions of $0.46 and $0.45 in 
the next five and 30 days, respectively. Meanwhile, their long-term forecast 
project ENA to also trade around $0.46 in the next three months. Featured 
image from Ethena, chart from Tradingview