Cryptocurrency
Bitcoin Dropping to $38K Remains a Possibility, but Will the Bulls Intervene? (BTC Price Analysis)

After attempting to breach the critical resistance at $48K, Bitcoin encountered substantial selling pressure, resulting in a notable rejection and a drop to the $41K level.
However, the cryptocurrency currently seems likely to undergo a brief consolidation before embarking on its next significant move.
Technical Analysis
By Shayan
Bitcoin Price Analysis: The Daily Chart
Examining the daily chart, Bitcoin’s attempt to reclaim the significant resistance at $48K faced rejection, leading to a substantial 15% decline to the crucial support at $41K. This resistance is delineated by the upper boundary of the ascending channel and the pivotal $48K threshold, acting as a robust barrier for BTC buyers.
Should the selling pressure persist and extend the retracement, a vital support zone is expected to intervene, preventing further downward movements. This area encompasses the middle trendline of the channel, coinciding with the 100-day moving average at $38K, providing a formidable barrier for sellers. Nevertheless, a consolidation phase within the $48K resistance and $38K support range is anticipated in the mid-term.
The 4-Hour Chart
The 4-hour chart illustrates price consolidation within an ascending flag pattern, indicating a balance between sellers and buyers. Bitcoin’s recent bullish movement aiming to breach the decisive $48K resistance, aligned with the upper boundary of the ascending flag, faced increased selling pressure, triggering a cascading price drop.
At present, BTC has reached the lower boundary of the flag around the $42K support zone. A successful break below this crucial threshold, followed by a validated pullback, could pave the way for a continuation of the downtrend toward the substantial $38K support region.
However, considering the prevailing market conditions, there is also the possibility of Bitcoin entering a mid-term consolidation before initiating its next significant movement.
On-chain Analysis
By Shayan
The Puell Multiple metric provides a comprehensive view of the market by assessing the profitability of mining pools compared to the past year. It poses the question: “How profitable are mining pools if all newly created Bitcoins were instantly distributed on the market?”. Historical data indicates that when the metric enters the green zone (discount region), it often signals the market’s bottom and the conclusion of bear markets. Conversely, an increase in the metric suggests profitability for mining pools, indicating a healthy and positive market condition.
As per the chart, miners’ revenue experienced a significant uptick from August 2023 until the year’s end, reaching the middle region of the Puell Multiple, with a 14-day Simple Moving Average (SMA) included. The last time this region was reached was in January 2021, when Bitcoin reached $40K for the first time. Consequently, based solely on the Puell Multiple metric, the potential return compared to risk remains favorable, as the indicator is below the intermediate region.
However, it’s essential to consider that significant capital has been in profit since the end of 2022. This factor could potentially trigger a more substantial price correction before the commencement of the next impulsive bullish trend.
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Cryptocurrency charts by TradingView.
Cryptocurrency
Can Ripple (XRP) Hit $10 in 2025? ChatGPT Answers

TL;DR
- The cryptocurrency space is full of bullish and sometimes relatively ridiculous price predictions for members’ favorite assets, so we decided to ask ChatGPT for its opinion on whether XRP has the legs to make a mind-blowing surge to double-digit territory.
- It believes such a whopping 320% pump from current levels will require some “substantial developments.”
$10 Mission Possible?
The XRP Army, one of the most vocal communities in crypto, has outlined some massive predictions for the underlying asset, ranging from describing it as a modern-day Manhattan real estate opportunity to putting a future price tag of $100.
While these might sound a bit far-fetched at the moment, given XRP’s price of $2.38, we asked ChatGPT for another popular target – $10. After all, it would require a more modest 320% surge by the end of the year, something that Ripple’s token has done in the past – the last time was in late 2024/early 2025, when it shot up by even bigger percentages.
The AI solution noted that the lawsuit resolution against the SEC, which is not officially over yet, even though both parties agreed to a $50 million settlement, has opened the door for XRP to gain further traction as it has “removed a significant uncertainty, potentially boosting investor confidence and institutional interest.”
In terms of that institutional adoption, ChatGPT said a potential approval of a spot Ripple ETF in the States could skyrocket the underlying token’s price. The odds are relatively high, with Polymarket predicting a 79% chance for such a product to hit the US markets by the end of the year.
Lastly, the AI chatbot outlined the overall crypto market dynamics. The arrival of the much-anticipated altseason, which has been highly speculated in the past few weeks, could be among the biggest gain drivers for the second-largest non-stablecoin alt.
But These Challenges…
ChatGPT believes reaching a $10 price tag is not an easy task and comes with its own set of challenges. One of them is the actual size of XRP in terms of market cap, as it would require the metric to shoot up to $580 billion or even more, given the billion tokens released every month. This would put it at levels almost twice as high as ETH’s current one.
XRP also faces a lot of competition not only in the cryptocurrency space where investors can choose from thousands of altcoins, but in the traditional payment system where it serves as a cross-border token. As such, ChatGPT concluded:
“While reaching $10 is within the realm of possibility, it would require a confluence of favorable factors, including increased adoption, positive market sentiment, and supportive regulatory developments. Investors should consider these factors and conduct thorough research when evaluating XRP’s potential.”
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Cryptocurrency
Metaplanet Hits All-Time High $6M Q1 Revenue as BTC Holdings Surge 3.9x

The Japanese hospitality firm Metaplanet has disclosed record-breaking earnings for the first quarter of the year, primarily attributing the success to its Bitcoin treasury strategy.
According to the firm’s Q1 Earnings Report, its Bitcoin strategy contributed 88% to its revenue of 877 million Japanese yen ($6 million). Metaplanet’s consistent BTC accumulation has also earned it the spot of the 11th-largest public company by bitcoin holdings globally and number one in Asia.
Metaplanet Posts Record Q1 Financials
From January 1 to date, Metaplanet has added 5,034 BTC to its balance sheet, increasing its holdings by 3.9x to 6,796 BTC. These purchases were funded by a moving-strike warrant program, which enabled the company to issue equity without setting a fixed discount or strike.
As of May 10, the hospitality entity had executed 87% of the program, raising 76.6 billion yen ($524.8 million) and becoming the largest public equity issuer in the country. With the funds raised, Metaplanet has achieved approximately 68% of its near-term 10,000 BTC goal at a cost basis of 13.27 million yen ($90,929) per BTC.
Although the company recorded a 7.4 billion yen ($50.7 million) unrealized loss on its BTC position by the end of the quarter due to market prices, bitcoin’s recent rally has fully reversed the losses. The firm reported unrealized BTC gains of 13.5 billion yen ($92.5 million) as of May 12.
Evaluating its treasury performance, Metaplanet reported a BTC yield of 170% and a BTC gain of 2,996 BTC. These metrics measure the growth in BTC per diluted share and the BTC per shareholder unit.
Embracing a Bitcoin Treasury
Metaplanet said last quarter’s report posted the strongest financial result in its 20-year corporate history. The company’s core operating metrics and Bitcoin treasury key performance indicators (KPIs) also broke its records for the first time.
The entity recorded an operating profit of 593 million yen (over $4 million) after an 11% uptick quarter-on-quarter. Revenue rose 8%, while total assets surged 81% to 55 billion yen (more than $376.8 million) within the same time frame.
Due to the success of its Bitcoin treasury strategy, Metaplanet is urging other companies to consider adopting Bitcoin, offering its capital strategy as a blueprint.
“Our results speak for themselves: we don’t set targets to feel safe—we set them to exceed them, quarter after quarter. The global feedback loop between capital markets and Bitcoin is just beginning. Metaplanet intends to be its premier conduit,” the company said.
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Cryptocurrency
Bitcoin Dominance Dives in May as Altcoins Form Golden Cross

It’s a sign of a bullish market for all crypto assets that are not called BTC. Last time this happened in 2021, a bevy of popular altcoins returned cryptocurrency buyers 28,000% by the end of the market cycle.
Bitcoin Dominance Takes 4% Spill
Bitcoin’s market share fell from 65% to 61% between May 7 and May 13, according to TradingView. Markets haven’t seen that 65% level of BTC dominance over altcoins since 2021.
That year was the altseason, as crypto veterans like to call it, that launched Dogecoin’s price tens of thousands of percent upward in under 12 months.
Meanwhile, in 2021, a $100 Shiba Inu investment went from Jan. 1, 2021, to over $14 million by Mar. 2023. Two unemployed Millennial brothers from Westchester, NY, invested $8,000 in Shiba Inu that year after a family friend told them about it.
There are hundreds of trillions of dollars out there.
There are only 21 million #Bitcoin.
Do the math.
— Samson Mow (@Excellion) May 8, 2025
As Bitcoin boosters like to say: Do the math.
While a 4% dip in Bitcoin dominance may seem like a small fraction, the numerator here is a global Internet currency with a two trillion dollar market cap on May 7.
That’s something like an $80 billion dip in market share against altcoins over six days in May. Furthermore, Bitcoin’s price and market cap grew by 7% during those six days, even as its wedge on the pie chart shrank.
Altcoins Form Bullish Golden Cross
Meanwhile, an index of altcoin prices formed a golden cross in May, potentially signaling bullish momentum into a prolonged bull run.
As one popular crypto YouTube analyst reported on May 13, the total altcoin market cap for major currencies has formed a golden cross. That’s when a shorter-term moving average crosses from below to above a longer-term moving average.
Altseason incoming. golden cross hit.
Last time this happened in 2021, alts went +28,000%
2025 just did the same.
if you fumble this run, you deserve to stay broke.Don’t fade the rotation.#crypto #altcoins #bullrun pic.twitter.com/ZZp7z2nrcT
— Bitcoin Duniya (@bitcoin_duniya) May 13, 2025
The moving average for a cryptocurrency is the periodically updated average of all its prices over a previous period. Traders use that to get a sense of the market’s inertia.
If the last market cycle’s performance repeats on this round, the total altcoin market cap could exceed $5 trillion sometime by 2026. Here are five more signals that altseason may soon commence.
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