Bitcoin continues to be bought at each dip, but overcoming a critical overhead resistance could determine the next steps for many altcoins. Key points: Bitcoin ETPs continue to witness solid buying, signaling that the bulls expect the uptrend to continue. Several major altcoins witnessed a pullback, but lower levels continue to attract buyers. Read more
The Trump Media and Technology Group told the Financial Times that “dumb writers” were behind a report citing six sources that it was planning to raise $3 billion to buy crypto. Update (May 26, 9:27 pm UTC): This article has been updated to include a statement from Truth Media and Technology Group. Trump Media and Technology Group, the company behind US President Donald Trump’s Truth Social platform, has rebuffed a report that it’s planning to raise $3 billion in a mix of equity and convertible bonds to buy Bitcoin and other cryptocurrencies. The Financial Times reported the company’s plan on May 26, citing six people briefed on the matter, but Trump Media told the outlet that, “apparently the Financial Times has dumb writers listening to even dumber sources.” Read more
Bulls launched a futures market-driven attack on BTC’s $110,000 resistance level as US markets are closed for Memorial Day. Will spot volumes follow on Tuesday? Key takeaways: Bitcoin price is capped at the $110,000 level due to sellers and a decrease in spot volumes. Leverage use is driving current rallies into this resistance level. Traders are watching today’s volumes to see if an emerging intra-day trends are followed at the US open on May 27. Read more