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BTC price hits $27.4K as Bitcoin open interest matches Grayscale peak

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Bitcoin (BTC) hit new month-to-date highs on Sept. 18 as a strong weekly close cemented a bullish start to Wall Street trading. 

BTC/USD 1-day chart. Source: TradingView

Trader cautions on surging Bitcoin open interest

Data from Cointelegraph Markets Pro and TradingView tracked over 3% BTC price gains on the day, with Bitcoin breaking $27,000 for the first time in September.

With the Wall Street open around the corner, market participants eyed “momentum” returning among Bitcoin bulls.

“Bitcoin price breaks the barrier at $26,800 and attacks the highs at $27,200,” Michaël van de Poppe, founder and CEO of trading firm Eight, summarized.

“Trend looks like to be upwards from here, as altcoins are also waking up. Still the best period to buy your assets.”

Van de Poppe uploaded his latest analytics chart to X (formerly Twitter), showing the area of resistance now necessary for a reclaim.

BTC/USD annotated chart. Source: Michaël van de Poppe/X

Monitoring resource Material Indicators meanwhile revealed daily buy signals on its proprietary trading instruments.

“Bulls seem to have mustered some momentum since the D candle open,” part of accompanying commentary read.

Elsewhere, a cautious Daan Crypto Trades flagged ballooning open interest, which returned to levels last seen after the brief BTC price gains that followed asset manager Grayscale’s legal victory against United States regulators.

Trader and analyst Rekt Capital meanwhile demanded that bulls win back higher levels and hold them into the September monthly close.

“Soon going to revisit ~$27100 (black),” he forecast on the day alongside a chart.

“This level acted as support earlier this year and could turn into new resistance this month, unless $BTC reclaims it with a Monthly Close above black.”

BTC/USD annotated chart. Source: Rekt Capital/X

BTC price further ignores DXY strength

With the Fed’s decision on interest rates looming on Sept. 20, the macro conversation focused on the build-up to the event.

Related: FOMC versus BTC price ‘local bottom’ — 5 things to know in Bitcoin this week

The U.S. Dollar Index (DXY) showed continued strength on the day despite assumptions that interest rates would not rise later in the week.

The DXY hovered above 105, having broken through that level for the first time since mid-March.

Bitcoin, traditionally inversely correlated to the Index, nonetheless showed no signs of weakness.

“Bitcoin hit $27,000, while the DXY is above 105,” James Straten, research and data analyst at crypto insights firm CryptoSlate, noted alongside a comparative chart.

BTC/USD vs. DXY comparative chart. Source: James Straten/X

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

“The last time DXY was trading at 105 was March when Bitcoin was trading at less than $20,000. The time before that was Q4 2022, #Bitcoin was trading $17,000.”

Cryptocurrency

Why Is XRP Pumping? Whale Moves $90M as Ripple Price Nears $3

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TL;DR

  • XRP jumps 80% from April lows as whales move over $200 million in large transactions.
  • ETF volume surges 5x above normal as traders await ProShares’ XRP futures fund launch.
  • XRP nears $3 as traders speculate on $4 breakout amid revived momentum and whale activity.

XRP Hits Five-Month High After 80% Climb

XRP has surged nearly 80% from its April lows and shot up to almost $3 for the first time in several months. The token has increased by 8% in the last 24 hours and 25% weekly, making it one of the strongest assets in the market this week.

Interestingly, the rally also marks a Bitcoin (BTC) breakout to a new record of $118,800, assisting in pushing up wider crypto prices. XRP has gained renewed momentum after months of muted movement, drawing fresh interest from both retail and institutional traders.

Whale Transfers Fuel Speculation

On-chain data shows several large XRP movements over the past 24 hours. Whale Alert flagged a 33 million XRP transfer (worth about $90 million) from Upbit to an unknown wallet. Another 40 million XRP, valued at over $100 million, moved between unidentified addresses, as CryptoPotato reported.

In a separate transfer, 25.49 million XRP were sent from a private wallet to Coinbase. The cause behind such transactions is not clear, but these movements are likely to precede or follow price action. The timing has added to ongoing market speculation around the asset’s next move.

XRP ETF Volume Spikes Ahead of Key Deadlines

Trading activity has also picked up in XRP-linked exchange-traded products. Bloomberg’s Eric Balchunas noted a sharp increase in volume. 

“The XRP ETFs seeing surge in volume today, like 4-5x the norm,” he posted. 

The 2x leveraged XRP fund ($XXRP) rose 27% on the day and 55% this week, with volume hitting $120 million.

As reported, ProShares plans to launch three futures XRP ETFs on July 14. These include Ultra XRP, UltraShort XRP, and Short XRP funds. The launches depend on whether the SEC allows them to proceed without objection before deadlines later this month.

Traders continue to watch the charts closely. Edoardo Farina, a crypto educator, said,  

“It wouldn’t be surprising if market participants woke up to see XRP trading above $4.”

XRP has remained below its all-time high for over seven years, but current momentum has revived market expectations for a breakout.

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Cryptocurrency

Bitcoin Price Analysis: Is a Correction Coming or Will BTC Break $120K Next?

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Bitcoin has decisively broken above its previous all-time high of $111K, triggering a powerful bullish rally toward the key $120K psychological resistance.

However, as BTC approaches the $120K zone, profit-taking and distribution pressure may rise, increasing the likelihood of a short-term corrective pullback.

Technical Analysis

By ShayanMarkets

The Daily Chart

After a prolonged consolidation phase, Bitcoin has decisively broken above its previous all-time high of $111K. This breakout was backed by a notable surge in buying activity, triggering a short-squeeze that accelerated the bullish momentum. As a result, Bitcoin rapidly climbed toward the psychologically significant $120K resistance level.

While this move signals strong market confidence, the $120K region is a probable zone for profit-taking and distribution, which could temporarily slow down the rally. A short-term corrective phase is therefore expected, likely pulling the price back toward the $111K region to retest the breakout level. Based on the Fibonacci retracement tool, key resistance levels ahead are located at $120K and $131K.

The 4-Hour Chart

On the lower timeframe, Bitcoin printed a powerful bullish candle, decisively breaking above both the descending wedge pattern and the previous ATH at $111K. Following a minor pullback to retest the breakout zone, the price resumed its upward surge, reaching the $120K mark.

Such impulsive rallies are often followed by short-term corrections, as traders begin to realize profits. A healthy retracement would likely target the 0.5 ($113K) to 0.618 ($111K) Fibonacci levels, a key zone where the market may stabilize and build momentum for the next leg up.

On-chain Analysis

By ShayanMarkets

As Bitcoin trades at all-time highs near $120K, an intriguing insight emerges from the Short-Term Holder SOPR metric. This indicator, which measures realized profits from investors who’ve held BTC for less than 155 days, remains notably muted, especially when compared to November 2024, when Bitcoin first reached $111K.

Despite the recent surge, short-term holders aren’t cashing out aggressively, indicating that profit-taking is still relatively limited. Historically, the end of a bullish cycle is often accompanied by elevated SOPR values due to massive profit realization. But for now, the data suggests the market isn’t overheated, and the current rally could still have room to grow if new demand enters.

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Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.

Cryptocurrency charts by TradingView.

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Cryptocurrency

Binance Crushes Rivals: Grabs 37% of Global BTC Spot Volume in H1 2025

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Binance led global BTC spot volume in the first half of 2025. CryptoQuant’s latest analysis revealed that the crypto exchange commanded more than 37% market share, which is equivalent to over $3.44 trillion in traded volume.

This significant lead evidenced Binance’s position as the primary hub for Bitcoin liquidity and major flow activity, as volume spikes and large trades often appear there first.

Competitors Lag Behind

Other prominent platforms such as Bybit, Crypto.com, Coinbase, and OKX collectively accounted for around 29% of total spot volume during the same period. Together, they formed the next tier of liquidity centers despite the wide gap with Binance.

Meanwhile, crypto exchanges such as Upbit, Bitget, and HuobiPro each hovered around the 5% mark. While they did maintain relevance in the global market, but had comparatively lower influence, as noted by CryptoQuant.

On the other hand, Kraken, KuCoin, and Gate.io, among other long-tail exchanges, each contributed less than 3% of total BTC spot volume and largely served niche or regional markets.

“Bottom line: If you’re looking for deep liquidity or want to track major BTC flow activity, Binance is still the primary exchange (by far).”

Beyond its spot volume share, Binance also dominates in whale activity.

Bitcoin Whales Won’t Leave Binance

In fact, CryptoQuant found that Binance has been leading in cumulative whale transaction flows across centralized exchanges. The exchange recorded a whopping 31.36 million BTC in whale inflows and 30.82 million BTC in outflows. This reflected not the total BTC supply but the sheer velocity and frequency of whale-sized movements (≥1000 BTC/day) over its operational lifespan.

Spread across 2,869 active days of whale inflows, Binance has facilitated over 53.2 million whale transactions. It has dwarfed competitors with 10 times Kraken’s activity and five times that of HTX. This massive two-way flow indicates Binance’s role not merely as a custody hub but as a trusted venue for large-scale, active trading, market-making, and arbitrage operations, confirming its depth and infrastructure as reliable for whales.

For context, HTX Global follows with 24.1 million BTC in inflows across 6.8 million whale transactions, while Kraken recorded 23.7 million BTC in inflows with 765,000 whale transactions. Other notable platforms include Bitstamp, Bitfinex, Gemini, OKX, and Poloniex, but none match Binance’s scale.

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