Glassnode has dug deep into the proverbial rabbit hole and unearthed a curious phenomenon; Bitcoin’s spot Cumulative Volume Delta (CVD) has decided to go on a diet and has been steadily declining for weeks—perhaps it’s trying to fit into that elusive pair of space pants. CVD, which acts as some sort of mood ring for investors, is measuring whether buyers or sellers are winning the cosmic tug-of-war.
Amidst the political theater, a particular promise from the former president had captured the imagination of the populace: a full pardon for one Ross Ulbricht, the architect behind the infamous Silk Road marketplace. Convicted for a veritable cornucopia of offenses—ranging from orchestrating an ongoing criminal enterprise to dabbling in the less-than-noble arenas of money laundering and drug trafficking—Ulbricht had tasted the bitterness of a life sentence since the year two thousand and thirteen, following his apprehension in the concrete jungle of Manhattan.
Lo! Ethereum rises like the dawn of a new era, having surged above $3,000 with a fervor akin to a lost lover finding their way home. A mere 6.7% gain in a day? How quaint! Almost enough to make one believe in morning rituals. As of this moment, ETH lounges comfortably just beneath $3,000, buoyed by its most vigorous rally since February—an event worthy of serenades, indeed!
Bitcoin remains strong as long as it stays above $110,530.
According to some clever person on X (no, not the ex, the social media platform 🙅♀️), SUI’s 1-hour chart is looking rather fetching, with the price trading above the 5, 10, and 20-day moving averages. It’s like the ultimate party, and everyone’s invited 🎉. But, as we all know, parties can get out of hand, and the Relative Strength Index (RSI) is warning us of a potential short-term pullback 🚨.
But what struck me most was the sense of calm that pervaded the report. No, this wasn’t a market driven by retail hype and speculation. This was a market driven by institutions, by the big players who had finally decided to take crypto seriously 🤑.
As of this writing, the CoinDesk 20 is frolicking at a merry 3513.86, a full 5.3% (+176.17) higher than its Thursday afternoon slumber. One can almost hear the champagne corks popping and the joyous whoops of investors as they gaze upon their swelling portfolios! 🥂
Even solana 🌞, the darling of the previous drive to record highs, seems to be taking a back seat, rising just 3.9% while the likes of sei 🚀, ethena 🌈, and optimism 🌟 are celebrating gains of as much as 28%.
In the grand theater of finance, the newly minted MemeCore (M) has notably captivated the stage, flaunting an impressive ascent of 1,110% — a veritable feat of alchemy that lands it at the esteemed price of around $0.68. Ah, what dreams are spun in the looms of trading!
At the time of this writing, Cardano was trading at $0.74, a modest 18% profit over the past 24 hours. But on the higher timeframes, the cryptocurrency had recorded a 28% profit, outpacing even the swift XRP, which had gained 20% over the same period. It was as if the digital world was tipping its hat to Cardano’s resilience.
