Bitcoin is testing a key demand zone after breaking down from a symmetrical triangle, putting the market at a critical turning point. While buyers may attempt to defend this support and trigger a rebound, a failure to hold could open the door to further downside in the near term. 

Bearish Triangle Breakdown Sends Bitcoin Toward Key Liquidity Zone

Minga highlighted that the market has experienced a bearish breakout from a symmetrical triangle pattern, and the price is trending toward the 50% wick fill region of the previous weekly candle, an area containing significant untested liquidity and a long limit order that was previously front-ran. While he expects this long position to be filled, the risk on this trade is minimal at 0.25%, effectively serving as a risk-free hedge against his existing short position.

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Minga maintains a bullish bias for the remainder of the month, but he emphasizes that this outlook requires technical confirmation, specifically a bounce from the $60,700 level. Losing this key support likely invites further downside, bringing the $58,900 level into focus. Given that the daily trend is showing clear signs of exhaustion, Minga views the $60,700–$58,900 range as a high-probability zone for a potential recovery.

However, the analyst cautions that exhaustion does not inherently guarantee a reversal. Market conditions can often result in a slow, grinding decline as the asset hunts for liquidity on both sides, leading to highly choppy price action. This behavior is historically common near major market turning points.

Given that the market is potentially nearing a macro bottom, the possibility of a prolonged, choppy descent cannot be ignored. Should this scenario materialize and the current support zones fail to hold, Minga identifies the $54,500–$49,000 region as the next critical downside target. 

$60,800 Remains BTC’s Most Important Battleground

According to analyst @wangtuai888, whose track record includes eight consecutive accurate trend predictions, the market is currently hovering at a decisive juncture. As long as the $60,800 support holds, the asset remains within an uptrend. However, should the price break and close a 1-hour solid candle below $60,800, which marks a critical Point of Control (POC) and a vacuum zone, the analyst anticipates a sharp, immediate decline.

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If the $60,800 support holds, @wangtuai888 expects an initial rebound toward $62,400 to break the previous minor high and shift the local market structure. This would be followed by a pullback to the $61,800 POC, which the analyst identifies as a favorable entry point for long positions.

The strategy then pivots toward a tactical shorting opportunity. The analyst intends to initiate a short position near the 63,000 level, noting that even if a stop-loss is triggered, the high reward-to-risk ratio makes this a worthwhile trade. 

Ultimately, the analyst emphasizes that this expected rebound should not be mistaken for a full market reversal. The broader direction remains firmly in a downtrend, and the ultimate price target for this bearish cycle is $55,500.

Featured image from Pngtree, chart from Tradingview.com

On-chain analytics firm Glassnode has revealed how the latest Ethereum cycle never reached a profitability threshold cleared in previous bull runs.

Ethereum Has Seen Its Profitability Profile Compress This Cycle

In a new post on X, Glassnode has talked about how the share of supply carrying a gain of more than 300% is currently looking on the Ethereum blockchain. Below is the chart shared by the analytics firm that shows the trend in this metric.

The value of the indicator seems to have gone down over the last few years | Source: Glassnode on X

From the graph, it’s visible that the Ethereum supply sitting at a 3x profit has declined recently and hit the 11% mark. This suggests that just over a tenth of the cryptocurrency’s supply in circulation is in a significant gain at the current spot price.

The reason behind this supply being at a low level is naturally in part due to the bearish market conditions. It alone, however, can’t explain just how low the indicator is. It’s apparent in the chart that the last time that the network saw this supply occupy a lower share was all the way back in February 2017. Both the 2019 and 2022 bear markets never saw profitability this bad.

In fact, bear market levels isn’t all that has differed in the current cycle. In the previous two cycles, the 3x profit supply crossed the 50% level during the bullish phase. This cycle never saw the metric break the 30% mark, let alone approach the 50% threshold. “ETH’s profitability profile has fundamentally compressed relative to prior cycles,” noted Glassnode.

In related news, Ethereum and other assets have faced a steep drawdown recently that has had a notable effect on short-term investor profitability. On-chain analytics firm Santiment has shared in an X post the data related to how the various top coins have compared in terms of this.

The metric cited by Santiment is the Market Value to Realized Value (MVRV) Ratio, which is a popular indicator for gauging the profit-loss status of holders as a whole. Here, the analytics firm has specifically used the version of the MVRV Ratio tracking the profitability of buyers from the last 30 days.

The trend in the 30-day MVRV Ratio for BTC, ETH, ADA, XRP, and LINK | Source: Santiment on X

As displayed in the above chart, Ethereum, Bitcoin, and other assets saw the 30-day MVRV Ratio plummet to a deep value as the market crash played out. With the rebound that has followed since then, however, the situation has improved a bit for buyers from the past month.

That said, losses continue to be significant for this group. The 30-day MVRV Ratio is currently sitting at -10% for BTC and -12% for ETH. The analytics firm explained:

When the average trader is sitting on significant losses across networks that are normally hovering at 0% (zero sum game), selling pressure often becomes exhausted as weak hands capitulate and long-term investors begin accumulating.

ETH Price

Ethereum had fallen near the $1,500 level during the weekend, but the coin has since bounced back as its value is now sitting around $1,680.

Looks like the price of the coin has bounced back a bit | Source: ETHUSDT on TradingView

Featured image from Dall-E, chart from TradingView.com

Indian benchmark indices witnessed a sharp sell-off on 8 June amid weakness in global markets, escalating geopolitical tensions, and a surge in crude oil prices, raising concerns over inflationary pressures and their potential impact on economic growth. Analysts say Nifty after the recent corrective decline has approached the immediate support area of 23,000-23,200 being the confluence of the April 8 bullish gap area and the 61.8% retracement of the previous pullback (22,182-24,601).

STATE OF THE MARKETS

Gift Nifty (Earlier SGX Nifty) signals a muted start.

Nifty futures on the Gift Nifty traded 4 pts lower at 23,173.

Tech View: A move above and sustained trading beyond 23,125 could trigger a meaningful recovery towards the 23,250–23,300 zone. On the downside, a breach below 23,070 may invalidate the pattern and drag Nifty below the 23,000 mark.

India VIX: India VIX, which is a measure of the fear in the markets, rose 8% to settle at 17.03 levels.

Global Markets Check

• S&P 500 futures were little changed as of 9:01 a.m. Tokyo time
• Hang Seng futures were little changed
• Japan’s Topix rose 0.8%
• Australia’s S&P/ASX 200 fell 1.3%
• Euro Stoxx 50 futures rose 0.2%

Forex News

• The euro was little changed at $1.1528
• The Japanese yen was little changed at 160.19 per dollar
• The offshore yuan was little changed at 6.7856 per dollar
• The Australian dollar was little changed at $0.7038

Oil rises
Oil prices inched up in early trade on Tuesday after Iran and Israel left the door open to a possible resumption of attacks on each other, though they had called a halt to hostilities following an appeal from U.S. President Donald Trump.

Brent crude futures rose 13 cents, or 0.14%, to $94.38 a barrel at 0001 GMT, while U.S. West Texas Intermediate were up 11 cents, ‌or 0.12%, at $91.41 ⁠a ⁠barrel.

Stocks in F&O ban today

1) Amber Enterprises
2) Kaynes

Securities in the ban period under the F&O segment include companies in which the security has crossed 95% of the market-wide position limit.

FII/DII action
Foreign portfolio investors net sold shares worth Rs 5,555 crore on Monday. DIIs, meanwhile, were net buyers at Rs 5,165 crore.

Rupee
The rupee depreciated 43 paise to settle at 95.61 against the American currency on Monday, pressured by elevated crude oil prices and the strength of the US dollar in the overseas market due to higher risk aversion amid escalating geopolitical tensions.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)

The markets traded with a negative bias through the week and ended lower after remaining under sustained pressure. Nifty oscillated in a 582-point range, marking a high at 23,733.70 and a low at 23,151.50 before settling near the lower end of this band. Volatility remained subdued despite the corrective undertone, with India VIX declining 2.47% to 15.79 during the week. As a result, the Nifty ended the week with a loss of 181.05 points (-0.77%).

The broader technical structure continues to remain at an important inflexion point. Nifty is presently trading below its 50-week and 100-week moving averages, while attempting to stabilise above a crucial support area near 23,000-23,100. This zone has emerged as a major line of defence for the markets, and options data also suggest that participants are likely to actively protect this area.

While the immediate downside appears cushioned by the 23,000-23,100 zone, any meaningful and sustained violation of this support area would inflict structural damage on the market and could trigger a fresh phase of weakness. On the upside, the index must reclaim and sustain above the 23,600-23,800 zone to improve the near-term outlook and pave the way for some recovery.

The coming week is likely to begin on a cautious note as markets continue to assess the strength of support near the lower end of the prevailing trading range. Immediate resistance levels are placed at 23,643 and 23,800, the former coinciding with the 20-week average. Supports come in at 23,000 and 22,800, with the 23,000-23,100 zone remaining the most critical area to monitor.

The weekly RSI stands at 39.25 and remains below the neutral 50 mark, reflecting a weak momentum setup. The RSI shows no meaningful bullish or bearish divergence relative to price and remains neutral. Weekly MACD stays below its signal line and continues to remain in negative territory.

A study of the pattern structure shows that Nifty continues to trade within a broad sideways trajectory that has governed price action over the past several quarters. The recent decline has brought the index close to the lower boundary of this formation, making the current levels technically important. While the long-term trend remains intact as long as the channel support holds, the index remains below its 50-week moving average at 24,901 and the 100-week moving average at 24,526, keeping the medium-term trend under pressure. The 200-week moving average at 22,087 continues to provide strong long-term support and reinforces the significance of the broader uptrend. Given the current setup, traders should avoid adopting an overly aggressive stance until the index either decisively reclaims overhead resistance levels or confirms support-led buying from the 23,000-23,100 zone. While this support area may continue to attract buying interest, the risk-reward equation does not yet favour indiscriminate accumulation. Fresh purchases should remain highly selective and stock-specific, with greater emphasis on relative strength and risk management. Protection of capital should remain a priority, especially if the index shows any sustained weakness below 23,000.

In our look at Relative Rotation Graphs®, we compared various sectors against the CNX500 (NIFTY 500 Index), representing over 95% of the free-float market cap of allthe listed stocks.

The Relative Rotation Graph (RRG) shows that the Nifty MIDCAP100, Energy, Media, and Metal Indices are the only ones inside the leading quadrant. These groups are likely to relatively outperform the broader Nifty 500 Index.

The Nifty Pharma, PSE, and Infrastructure Indices are inside the weakening quadrant. They are likely to slow down on their relative performance, while isolated stock-specific performances cannot be ruled out.

The Nifty PSU Bank Index, Services Sector Index, IT, Financial Services, and Nifty Bank Index are seen languishing inside the lagging quadrant. These groups may relatively underperform the broader markets. The Nifty Auto Index is also inside the lagging quadrant; however, it is seen improving its relative momentum.

While Realty and the FMCG Index stay inside the improving quadrant, the FMCG Index is seen giving up on its relative momentum.

Important Note: RRGTM charts show the relative strength and momentum of a group of stocks. In the above Chart, they show relative performance against the NIFTY500 Index (Broader Markets) and should not be used directly as buy or sell signals.

Shares of Alkem Laboratories witnessed block deals worth about Rs 930 crore on Tuesday, with promoter family entities selling shares to a clutch of domestic mutual funds and foreign institutional investors. According to NSE block deal data, a total of 17.88 lakh shares changed hands at Rs 5,200 apiece. The transaction value works out to about Rs 930 crore.

On the sell side, Jayanti Sinha sold 12.38 lakh shares, while Samprada & Nanhamati Singh Family Trust offloaded 5.5 lakh shares. Together, the two sellers divested 17.88 lakh shares. The shares were acquired by a mix of domestic and foreign institutional investors.

Among the largest buyers were ICICI Prudential Mutual Fund, which purchased 9.04 lakh shares, and HDFC Mutual Fund, which bought 5.1 lakh shares. Other participants included DSP Mutual Fund, Nippon India Mutual Fund, Morgan Stanley Asia Singapore, Goldman Sachs Bank Europe, BNP Paribas Arbitrage, Societe Generale and Edelweiss Mutual Fund.

The deal comes after a strong run in Alkem Laboratories shares over the past year, supported by steady growth in its domestic formulations business, improving margins and a recovery in its US operations.

Alkem is among India’s leading pharmaceutical companies with a strong presence in acute therapies, chronic segments and international markets. The participation of large domestic mutual funds in the transaction suggests continued institutional interest in quality healthcare names despite broader market volatility.

Shares of Alkem Laboratories are likely to remain in focus as investors assess the impact of the stake sale and changes in promoter shareholding following the transaction.

My parents are literally the backbone of my story. They’ve always supported me in good and bad times and never for once left my side whenever I feel lost in this world. Honestly, having such amazing parents makes you feel safe and secure, and I won’t trade them for anything else in this world.

I was exposed to the cryptocurrency world 3 years ago and got so interested in knowing so much about it. It all started when a friend of mine invested in a crypto asset, which he yielded massive gains from his investments.

When I confronted him about cryptocurrency he explained his journey so far in the field. It was impressive getting to know about his consistency and dedication in the space despite the risks involved, and these are the major reasons why I got so interested in cryptocurrency.

Trust me, I’ve had my share of experience with the ups and downs in the market but I never for once lost the passion to grow in the field. This is because I believe growth leads to excellence and that’s my goal in the field. And today, I am an employee of Bitcoinnist and NewsBTC news outlets.

My Bosses and co-workers are the best kinds of people I have ever worked with, in and outside the crypto landscape. I intend to give my all working alongside my amazing colleagues for the growth of these companies.

Sometimes I like to picture myself as an explorer, this is because I like visiting new places, I like learning new things (useful things to be precise), I like meeting new people – people who make an impact in my life no matter how little it is.

One of the things I love and enjoy doing the most is football. It will remain my favorite outdoor activity, probably because I’m so good at it. I am also very good at singing, dancing, acting, fashion and others.

I cherish my time, work, family, and loved ones. I mean, those are probably the most important things in anyone’s life. I don’t chase illusions, I chase dreams.

I know there is still a lot about myself that I need to figure out as I strive to become successful in life. I’m certain I will get there because I know I am not a quitter, and I will give my all till the very end to see myself at the top.

I aspire to be a boss someday, having people work under me just as I’ve worked under great people. This is one of my biggest dreams professionally, and one I do not take lightly. Everyone knows the road ahead is not as easy as it looks, but with God Almighty, my family, and shared passion friends, there is no stopping me.

Market maker giant Jane Street is again drawing intense attention in crypto markets, with experts claiming the firm’s “next target” may now be Ethereum (ETH). 

The speculation comes after reports that Jane Street made several major adjustments to its positions during the week, following months of scrutiny tied to alleged trading manipulation connected to Bitcoin (BTC).

From Bitcoin Retreat To Ethereum Expansion

Jane Street, one of Wall Street’s most active proprietary trading firms, reportedly reduced multiple Bitcoin-linked holdings in the first quarter (Q1) of the year, while meaningfully increasing its exposure to assets tied to Ethereum.

Jane Street’s position in BlackRock’s iShares Bitcoin Trust (IBIT) fell by 71% quarter-over-quarter to about 5.9 million shares, with a reported value near $225 million. 

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The firm also cut its stake in Fidelity’s Wise Origin Bitcoin Fund (FBTC), where holdings fell approximately 60% to around 2 million shares, valued at nearly $115 million at quarter-end.

The reduction also extended to Strategy (previously MicroStrategy). Jane Street’s Strategy holdings fell from about 968,000 shares in Q4 2025 to roughly 210,000 shares by the end of Q1. The reported value declined from close to $146 million to around $27 million. 

But while the firm was dialing back Bitcoin exposure, it was simultaneously building its Ethereum footprint. Jane Street expanded its holdings in Ethereum ETFs, with positions in BlackRock’s iShares Ethereum Trust nearly doubling during the quarter. 

The firm also added substantially to Fidelity’s Ethereum fund. Combined additions across the two ETH products were estimated at approximately $82 million.

Smaller Derivatives, Bigger Impact?

The move is now being framed by analysts as a potential continuation of the same pattern some observers associate with Jane Street’s earlier Bitcoin-linked controversies. 

Analysts at Bull Theory suggested that the firm behind a “daily 10 AM Bitcoin dump,” the same firm that was reportedly sued for insider trading in the $40 billion LUNA collapse, and the same firm with $567 million frozen by Indian regulators could now be targeting Ethereum. 

Their central argument is that ETH may be easier to move than BTC, primarily because of market structure and scale. Bull Theory pointed out that Bitcoin futures open interest stands at roughly $60 billion, while Ethereum’s is slightly more than half at about $34 billion. 

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The thesis is that a smaller derivatives market can make it possible to influence price with a smaller amount of capital. They also emphasized relative market size, noting that ETH’s market cap is $273 billion compared to BTC’s $1.6 trillion. Under their logic, the same amount of capital would create 6 times greater price impact in ETH.

The analysts also argued that the Ethereum ETF market is still relatively early. They claimed that Bitcoin ETFs hold roughly 6.67% of all circulating BTC supply, while Ethereum ETF penetration is lower, meaning there may not yet be the same institutional “demand floor” to absorb coordinated selling. 

Their conclusion was pointed: they believe the rotation into Ethereum is not happening primarily because Jane Street is forecasting bullish fundamentals for ETH, but because Ethereum is “easier to move.”

At the time of writing, ETH was trading at around $2,292, with almost no change from Wednesday’s price. Meanwhile, other assets such as Bitcoin and XRP saw gains of around 2% and 4% respectively during the same period. 

Featured image created with OpenArt, chart from TradingView.com 

Bitcoin (BTC) has staged a notable recovery in April, rebounding from around $67,000 to as high as $78,000. A key highlight of this move is BTC’s successful reclaim of the $73,700 level, a zone now acting as a crucial support base for the ongoing trend, according to MVRV Pricing Bands data.

Bitcoin At Crossroads: Climb To $96,000 Or Crash To $55,000? 

The MVRV (Market Value to Realized Value) Pricing Bands are an on-chain framework that compares Bitcoin’s market price to its realized value, effectively identifying zones of overvaluation and undervaluation across market cycles. In an X post on April 25, Ali Martinez explains that Bitcoin’s reclaimed -0.5 MVRV pricing band, when it decisively surged past $73,700, marking a major technical shift.

Bitcoin $BTC has successfully claimed the -0.5 MVRV pricing band, which currently sits at $73,700. This level is the pivot point for the current trend.

As long as $73,700 holds as support, the objective is a return to the mean, currently around $96,000.

Should Bitcoin lose the… https://t.co/arxxFtwNtn pic.twitter.com/bt5dtAHwbT

— Ali Charts (@alicharts) April 25, 2026

Within this framework, the -0.5 band serves as a transitional support level; holding above it suggests the market is regaining strength, with downside risks diminishing in the short term. Martinez emphasizes that as long as BTC maintains support above $73,700, the next logical move is a push toward the mean MVRV level, currently positioned around $96,000.

However, the structure remains conditional as a breakdown below $73,700 would invalidate the current bullish bottom scenario. In such a case, Bitcoin could face renewed selling pressure, with the next major downside target aligning with the Realized Price near $55,000. This level represents the average cost basis of all circulating coins and has historically served as strong macro support during corrections.

The MVRV Price Landscape

Beyond the immediate levels, the MVRV Pricing Bands outline a broader roadmap for Bitcoin’s potential movement. Above the $96,000 mean level, the +0.5 band sits near $118,000, marking the next potential resistance zone during an extended rally. Following that, the +1.0 band, currently around $140,000, represents the extreme overvaluation zone. Historically, BTC tends to approach this level during euphoric market phases, often followed by periods of cooling or consolidation.

On the downside, the Realized Price band is positioned around $54,700, closely aligned with the previously mentioned $55,000 level. Beneath that, the -1.0 band near $51,500 marks a deeper undervaluation zone, typically associated with capitulation events or late-stage bear-market conditions. Together, these bands provide a structured view of BTC’s current positioning.

At press time, Bitcoin is trading at $78,011, up 13.01% in the last month. However, despite these gains, Bitcoin remains 38.19% away from it’s all time high of $126,198, reached in October 2025.

Featured image from Freepik, chart from Tradingview

Ethereum has surged roughly 36% from its recent accumulation zone, pushing the price into a critical area where momentum often gets tested. With key resistance now in play and signs of hesitation emerging, the market is approaching a decisive moment that could determine whether the rally continues or a pullback unfolds.

Ethereum Surges 36% From Accumulation Zone

According to Crypto Patel, ETH has surged approximately 36% from its accumulation zone, pushing the price into a critical resistance area. After such a strong move, this region is typically seen as a logical zone for swing traders to consider locking in partial profits while watching how the price reacts.

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The analyst outlined several key levels that could shape the next phase of price action. On the upside, the first target sits around $2,828, marking a fair value gap (FVG) that the price may look to fill. Just above that lies the major resistance and decision zone near $2,900. On the downside, a return toward the $2,000 region would act as the invalidation point, signaling that the bullish structure has weakened.

From a scenario standpoint, a decisive breakout above $2,900, especially if supported by strong volume, would confirm bullish continuation. Such a move could shift market sentiment significantly, opening the door for a much larger rally to the $10,000 region. On the flip side, failure to break above $2,900 could trigger a deeper pullback, with price likely rotating back toward the $2,000 area as part of a broader corrective phase.

Ultimately, the emphasis remains on discipline and patience. Rather than chasing price or reacting to hype, the strategy is to let the market confirm its direction, which helps to avoid unnecessary risk as the next move unfolds.

A Rejection At $2,400 Resistance Level

Analyst Ted highlighted that Ethereum made an attempt to reclaim the $2,400 level but ultimately failed to do so. This rejection suggests that buyers are still struggling to regain control at key resistance, keeping short-term momentum on the weaker side.

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Following the failure, focus is now shifting to the next key support zone around $2,250. This level is likely to be tested if selling pressure continues, and how the price reacts there will be crucial. A strong bounce could stabilize the structure, while a breakdown may open the door for a deeper correction.

Currently, Ethereum is underperforming relative to Bitcoin, which adds another layer of risk. When ETH shows relative weakness, it often becomes more vulnerable during broader market pullbacks. As a result, even a modest correction in Bitcoin could have a magnified negative impact on Ethereum’s price action in the near term.

Featured image from Getty Images, chart from Tradingview.com