hodler

5 Jun 2026, 12:27

XRP at a Crossroads: ‘Wick or Brick’ Could Decide the Next Macro Move

Crypto markets are in shambles again, with bitcoin dipping to $61,000 earlier this morning for the first time in four months. Although some alts managed to withstand the calamity at first, they have joined the ride with even more profound losses. Ripple’s XRP is no exception. The asset stood above $1.55 just a few weeks ago, but the subsequent rejection drove it south hard. It plunged to just under $1.10 today, which marked its lowest price position since before the US presidential elections in late 2024. Despite the short-term pain, popular analyst EGRAG CRYPTO outlined a more macro perspective, suggesting that the real story may just be beginning. What’s Next for XRP? The analyst noted that the cross-border token has approached a pivotal moment that could define its next major cycle move. By drawing parallels to early 2017, EGRAG highlighted a historical pattern where XRP briefly slumped below key structural support, which they referred to as the “Bifrost Bridge,” before it initiated a powerful expansion move. That bull phase began with a sharp downside wick, designed to flush out weak hands and reset market positioning, EGRAG added. “The big question: Will we get another massive liquidity wick… or will price build a solid brick structure above support?” – The analyst asked now. They predicted that another deep wick could “shake out weak hands, create maximum fear, sweep liquidity fast, and form the final macro reset.” This would be the so-called “wick” scenario, in which a sudden yet aggressive move lower challenges the broader market’s positioning. The Brick Structure The alternative in EGRAG’s analysis is the “brick” structure, where Ripple’s native token consolidates above key support levels such as $1.00 and $1.10 and gradually builds a reliable base. This scenario would signal stronger accumulation and market confidence, potentially allowing for an earlier upside continuation without the need for the aforementioned dramatic flush. Despite the uncertainty, the analyst leans toward the first outcome: “Personally…I still think the market wants one final emotional move before the real expansion,” they concluded. The post XRP at a Crossroads: ‘Wick or Brick’ Could Decide the Next Macro Move appeared first on CryptoPotato .

5 Jun 2026, 12:24

How low can Bitcoin price go if $60K support fails?

Bitcoin’s downside targets cluster near $50,000, but a larger weekly bearish setup puts a deeper correction toward $33,000 on the radar.

5 Jun 2026, 12:20

Crypto Price Analysis Jun-05: ETH, XRP, ADA, BNB, and HYPE

This Friday, we examine Ethereum, Ripple, Cardano, Binance Coin, and Hyperliquid in greater detail. Ethereum (ETH) This week was one of the worst of this bear market as most cryptocurrencies fell by double digits. Ethereum was no different, crashing 17%. Unfortunately, the $1,800 support could not hold the bears back and quickly turned into resistance. At the time of this post, the ETH price is below $1,700 and struggling to find buyers. The most likely candidate for a bounce could be the support at $1,500. The price reversed on that level back in early 2025. Looking ahead, this bear market is in full swing, with no signs it is about to end. For this reason, prepare mentally for lower lows until a bottom is found. That could see ETH approach $1,000 again. Source: TradingView Ripple (XRP) XRP also crashed 14% this week and made a lower low. This drop was likely since the price fell below the blue pennant. That was an early bearish signal. Shorters are dominating right now and appear keen to test the $1 support, which is the most likely candidate to stop this downtrend, at least momentarily. Being a key psychological level may attract buyers, but if the market remains bearish, it’s hard to see XRP hold there. Looking ahead, this lower low suggests the XRP downtrend shows no signs of stopping. Watch the price reaction at $ 1 closely. If that level turns into resistance later, then prepare for $0.80 next. Source: TradingView Cardano (ADA) After a lot of back-and-forth, the support at $0.24 finally cracked. As soon as this happened, sellers rushed in and sent the price tanking. This is why ADA crashed by a shocking 30% this week, making it the worst period since the October 10th crash. With $0.24 now as resistance, ADA’s hopes of a recovery are slim. The more likely scenario is a slow grind lower until a final bottom is found. The current support is at $0.15, but it will struggle to hold if this sell pressure persists. Looking ahead, there is nothing bullish on the Cardano chart. Sentiment is at an all-time low in 2026, and it would take a miracle to see this reverse. Hopefully, $0.15 will provide some relief from this recent crash. Source: TradingView Binance Coin (BNB) Binance Coin’s price action this past week was a classic bait and switch. After breaking the resistance at $690, the price reversed and dropped over 20% back to the support at $580. Anyone who bought that breakout was trapped. Because the price returned to the key support, BNB closed the week 7% lower. Moreover, this drop is a bearish signal, indicating weakness and a lack of conviction among buyers. Looking ahead, it’s quite likely that this cryptocurrency may fall below $580. If so, $500 is next. That’s because the overall market may drag it lower even if bulls have done a great job defending $580 since early 2026. Source: TradingView Hype (HYPE) HYPE returned to its price from a week ago, erasing all recent gains after setting a new record at almost $76. This drop also allows it to retest the breakout at $60. Now, the biggest question is whether $60 will hold as support. If not, then expect HYPE to fall back towards $50, where the most important support level is found. As long as that holds, the uptrend that started in January 2026 would remain intact. Looking ahead, this cryptocurrency already had a fantastic year, and a proper correction appears overdue. This is why a pullback and consolidation would be ideal since going higher here would only make the eventual correction even more aggressive. Source: TradingView The post Crypto Price Analysis Jun-05: ETH, XRP, ADA, BNB, and HYPE appeared first on CryptoPotato .

5 Jun 2026, 12:15

Bitcoin Dips Below $62,000 as Market Faces Renewed Selling Pressure

BitcoinWorld Bitcoin Dips Below $62,000 as Market Faces Renewed Selling Pressure Bitcoin has slipped below the $62,000 threshold, reflecting renewed selling pressure across cryptocurrency markets. According to Bitcoin World market monitoring, BTC is currently trading at $61,994.01 on the Binance USDT pair, marking a notable retreat from recent higher levels. Market Context and Immediate Triggers The drop below $62,000 comes after a period of relative consolidation, with Bitcoin struggling to maintain momentum above key resistance levels. Analysts point to a combination of profit-taking, reduced risk appetite in broader financial markets, and ongoing regulatory uncertainty as contributing factors. The move also coincides with a slight uptick in U.S. dollar strength, which often inversely correlates with risk assets like cryptocurrencies. Technical Support and Trader Sentiment The $62,000 level has acted as both psychological and technical support in recent weeks. A sustained break below this point could open the door to further downside, with the next major support zone around $58,000 to $60,000. However, trading volumes remain moderate, suggesting the sell-off is not yet panic-driven. Derivatives data shows a moderate increase in long liquidations, but open interest remains relatively stable, indicating that leveraged positions have not been wiped out en masse. What This Means for Investors For short-term traders, the break below $62,000 signals a need for caution, as momentum has shifted to the downside. Longer-term holders, however, may view this as a routine pullback within a broader uptrend, particularly given Bitcoin’s historical volatility. The key question is whether buying interest emerges at these levels or if the market requires a deeper correction to attract fresh capital. Conclusion Bitcoin’s dip below $62,000 is a notable development in a market that has been searching for direction. While the immediate outlook appears cautious, the underlying fundamentals—including institutional adoption and network activity—remain intact. Investors should monitor trading volumes and macroeconomic cues for signs of a reversal or further weakness. FAQs Q1: Why did Bitcoin drop below $62,000? The decline appears driven by profit-taking, reduced risk appetite, and technical selling after Bitcoin failed to sustain recent highs. Broader macroeconomic factors, such as a stronger U.S. dollar, also contributed. Q2: Is this a good time to buy Bitcoin? That depends on individual risk tolerance and investment horizon. The $62,000 level has historically acted as support, but a sustained break could lead to further declines. Dollar-cost averaging is often recommended during volatile periods. Q3: What is the next support level for Bitcoin? If selling pressure continues, the next major support zone is between $58,000 and $60,000, a range where previous buying interest has emerged. This post Bitcoin Dips Below $62,000 as Market Faces Renewed Selling Pressure first appeared on BitcoinWorld .

5 Jun 2026, 12:10

Dogecoin Price Prediction: DOGE Holds Last Support

Dogecoin is sitting at a decisive support zone after hitting Ali Charts’ $0.0883 target. While the daily chart shows breakdown risk, the weekly chart still points to a possible recovery if DOGE holds the $0.087-$0.090 area. Dogecoin Price Tests Critical Support as $0.0883 Target Gets Hit Dogecoin (DOGE) has reached the $0.0883 downside target identified by analyst Ali Charts. The move came after DOGE lost support around $0.1019 and extended its decline toward the lower boundary of a descending channel shown on the daily chart. Dogecoin Daily Chart (DOGE/USD). Source: Ali Charts on X The chart shows DOGE trading near $0.0891, directly above a major support zone at $0.0883. This level previously acted as support and now represents the most important area for bulls to defend. At the same time, the price remains below the 50-day simple moving average (SMA), which suggests bearish momentum still dominates the short-term trend. According to the analysis, a successful defense of the $0.0883 support level could trigger a relief rally. In that scenario, DOGE may first retest resistance near $0.1019, which aligns with the 50-day SMA and a previous support level that recently turned into resistance. A stronger recovery could then open the path toward $0.1156, the upper resistance level highlighted on the chart. However, the support zone remains under pressure. A daily close below $0.0883 would signal a breakdown from the channel structure and could increase selling pressure. Ali Charts noted that such a move may expose the next major demand and supply interaction area near $0.067. For now, the $0.0883 level remains the key support to watch. Holding above it would keep the possibility of a rebound toward $0.1019 and $0.1156 intact, while a breakdown could shift focus toward the lower $0.067 region. Dogecoin Weekly Chart Signals Potential $1 Move After Channel Breakout Dogecoin (DOGE) is showing signs of a major trend reversal on the weekly timeframe after breaking above a long-term descending channel, according to analyst Celal Kucuker. The chart highlights a completed channel breakout near the $0.087-$0.090 support region, while the MACD indicator is beginning to turn higher from a prolonged bearish phase. Dogecoin Weekly Chart (DOGE/USDC). Source: Celal Kucuker on X The analysis points to a rounded bottom formation that developed over several months. DOGE recently rebounded from support near $0.08779 and is attempting to establish a higher low following the breakout. At the same time, the weekly MACD histogram is weakening on the downside, while the signal lines appear close to a bullish crossover, a setup often associated with improving momentum. The first major resistance zone sits around $0.27855, which marks the upper boundary of the highlighted accumulation range. According to the projection shown on the chart, a successful move above that level could open the door for a much larger advance toward the psychological $1.00 mark. However, the bullish scenario depends on DOGE holding above the breakout area around $0.087-$0.090. A sustained move back below that support zone would weaken the breakout structure and delay the projected upside path. At the time of the analysis, DOGE was trading near $0.098, meaning the chart's $1 target would represent a gain of more than 900% from current levels if the projected move fully develops.

5 Jun 2026, 12:10

MicroStrategy Bitcoin Sales and Tech Stock Correction Weigh on Crypto Sentiment: CNBC

BitcoinWorld MicroStrategy Bitcoin Sales and Tech Stock Correction Weigh on Crypto Sentiment: CNBC A recent report from CNBC highlights that investor sentiment in the cryptocurrency market is being dampened by a combination of MicroStrategy’s (MSTR) Bitcoin sales and a broader correction in technology stocks. The development marks a shift in market dynamics, with capital flowing toward other high-growth sectors. Shifting Capital Flows Away from Crypto Charles-Henry Monchau, Chief Investment Officer at Syz Group, told CNBC that speculative funds are increasingly rotating into artificial intelligence-related equities and South Korean memory chip stocks. He also noted that anticipation for several large initial public offerings is absorbing a significant amount of available capital, further reducing liquidity in the crypto market. This reallocation suggests that institutional and retail investors are currently favoring sectors with clearer near-term catalysts. Bitcoin’s Correlation with Equities Weakens Rajiv Sony, an analyst at Wave Digital Assets, provided data showing a notable shift in Bitcoin’s relationship with traditional equity markets. According to Sony, the 30-day correlation between Bitcoin, the Nasdaq, and the S&P 500 was nearly perfectly positive just a month ago. However, this correlation has dropped considerably in recent weeks. This decoupling indicates that Bitcoin is beginning to trade on its own fundamentals rather than moving in lockstep with tech stocks, a development that could signal a maturing market but also introduces new uncertainty for traders who relied on correlation-based strategies. Contrarian Views on Bitcoin’s Strength Despite the negative sentiment, some market participants see the current price action as a buying opportunity. Matt Cole, CEO of Strive, argued that Bitcoin’s fundamentals are stronger than ever. He pointed out that this is the fifth time Bitcoin has approached its 200-week moving average, a key technical indicator. In the previous four instances, this level served as a significant buying opportunity that preceded substantial price rallies. Cole’s perspective offers a counter-narrative to the prevailing bearishness, suggesting that long-term holders may view the current dip as an attractive entry point. Implications for Investors The conflicting signals—weak near-term sentiment versus strong long-term technical support—create a complex environment for cryptocurrency investors. The rotation of capital into AI and IPO markets suggests that short-term momentum may remain subdued. However, the historical precedent of the 200-week moving average acting as a support level could provide a floor for prices. Investors should monitor both macroeconomic factors, such as Federal Reserve policy and tech earnings, as well as Bitcoin-specific on-chain metrics to gauge the next major move. Conclusion The CNBC report underscores a pivotal moment for Bitcoin, caught between external market pressures and resilient internal fundamentals. While MicroStrategy’s sales and tech stock weakness are weighing on sentiment, the weakening correlation with equities and the approach of a historically significant moving average present a nuanced picture. The coming weeks will be critical in determining whether Bitcoin can decouple further and establish its own trajectory or if it remains vulnerable to broader market tides. FAQs Q1: Why is MicroStrategy selling Bitcoin? While the CNBC report does not specify MicroStrategy’s exact reasons, the company has historically used its Bitcoin holdings for treasury management and to raise capital. The sales may be part of a broader strategy to fund operations or take advantage of price levels. Q2: What does a weakening correlation between Bitcoin and the Nasdaq mean? A weakening correlation suggests that Bitcoin is trading more independently from tech stocks. This can be positive if Bitcoin rallies on its own merits, but it also means it may not benefit from a tech stock rebound and could fall even if equities hold steady. Q3: Is the 200-week moving average a reliable indicator for Bitcoin? Historically, the 200-week moving average has acted as a strong support level during bear markets, with previous touches leading to significant rallies. However, past performance is not a guarantee of future results, and other factors can override technical levels. This post MicroStrategy Bitcoin Sales and Tech Stock Correction Weigh on Crypto Sentiment: CNBC first appeared on BitcoinWorld .