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Ethereum Soars 44% as Abraxas Capital Pulls 185,309 ETH From Exchanges

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After a testing start to the year, Ethereum (ETH) is roaring back to life, notching a surge by more than 44% in just three days.

The rally, which saw ETH climb from $1,800 to over $2,600, marks the asset’s strongest three-day performance since January 2021.

Institutional Accumulation

The price jump also coincided with a series of massive withdrawals from exchanges by crypto investment firm Abraxas Capital. According to the on-chain analytics platform Lookonchain, Abraxas pulled 185,309 ETH worth nearly $400 million from exchanges in the last 72 hours, just as the cryptocurrency began its ascent.

Some view this aggressive accumulation as a sign of growing institutional confidence in Ethereum’s long-term prospects. The uptick has also reversed a profitability slump, with Sentora (formerly IntoTheBlock) noting on May 12 that the share of ETH addresses in profit has rebounded to over 60%, up from just 32% a month ago, reigniting the “Ethereum is back” narrative.

Analyst Titan of Crypto highlighted that ETH had reclaimed a five-year trendline from which it had previously deviated, observing that the MACD was “flipping bullish” on the weekly chart. Fellow market watcher Ali Martinez suggested that the cryptocurrency’s most critical support zone lies between $2,060 and $2,420, where 10 million wallets hold more than 69 million ETH.

Recovery in Motion

Trader Henry also offered additional insight into Ethereum’s structure, pointing out that it had formed an ascending triangle between $2,109 and $1,385. According to him, after hitting initial resistance at $2,578, ETH is now retesting support within the $1,800 to $2,578 zone.

He also predicted upcoming resistance levels at $3,073, $3,316, $3,700, and $4,013, with a long-term target of $12,000 by the end of the year.

Price-wise, ETH is currently trading at $2,550, a slight 1.3% uptick in the last 24 hours. Over the past seven days, the asset gained almost 40%, significantly outperforming the broader crypto market, which went up 13.9% in that period.

On the monthly scale, it has jumped by more than 60%, although it is still down some 12.4% year-on-year and more than 47% below its all-time high of $4,878, which it attained in October 2015.

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Cryptocurrency

3 Things to Watch in Ripple’s (XRP) Price Today

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XRP is testing the resistance at $2.3. Will it break?

Key Support levels: $2

Key Resistance levels: $2.3, $2.6, $3

1. Key Resistance Under Pressure

Yesterday, buyers pushed XRP to the key resistance at $2.3, but sellers returned to stop a breakout. At the time of this post, the price is in a pullback. Nevertheless, this is a positive sign that shows buyers are returning. If this bullish momentum intensifies, then $2.3 could fall and be followed by a test of $2.6 next.

XRPUSDT_2025-07-01_11-55-28
Chart by TradingView

2. Optimism Returns

With the price keen on making higher highs, optimism is returning to this cryptocurrency. This can be seen on the volume profile where buyers have dominated in the last few days. A break above $2.3 will likely see the volume spike and allow further price expansion into new highs.

XRPUSDT_2025-07-01_11-55-56
Chart by TradingView

3. MACD Turning Bullish

After the daily MACD turned positive last week, the 2-day MACD has also turned bullish today. This shows that the buy momentum is slowly creeping into higher timeframes which will build confidence in the price action and attract more buyers. With a positive feedback loop in action, XRP has a good shot at $2.6 or even higher in July.

XRPUSDT_2025-07-01_11-56-50
Chart by TradingView
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Cryptocurrency

Bitcoin Traders Wait Important Economic Announcements Today, These Altcoins Plummet (Market Watch)

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Bitcoin’s price has retraced by a slight 0.9% in the past 24 hours as traders are expecting a few important economic events during today’s session.

Meanwhile, the broader cryptocurrency market is also reflecting the uncertainty as the majority of altcoins are trading in the red with some charting a lot bigger declines than others.

Bitcoin Price Waits for News

The deep involvement of corporate Bitcoin buyers and institutions has surely played a major role in its price increase over the past year but it’s also the reason why the crypto market has been largely correlated to traditional ones.

A few years ago, literally nobody cared about metrics such as CPI, PMI, and whatnot, but now every crypto trader has them on their watchlist.

As such, today is also shaping up to be a volatile experience with a few important economic events on the calendar.

First, Jerome Powell will speak in the afternoon, followed by data for job openings, PMI, and ISM manufacturing – all indicators that shape policymaking, especially when gauging the strenght of the local economy.

That said, Bitocin’s price is down about 1% on the day and is currently trading at around $106,500 after having tested $109,000 yesterday. It’s interesting to see if the bulls have it in them to push bakc towards the upper boundary of the recent trading range or if the bears will send the price back below $105K.

BTCUSD_2025-07-01_12-41-24
Source: TradingView

Altcoins in Red, Some More Than Others

As you can clearly see in the heatmap below, the altcoins are also not having a great day. This is, perhaps, to be expected – Bitcoin’s dominance over the market has been rising gradually over the past many months and whenever BTC slips, altcoins crash.

The past 24 hours have hardly been a crash, though, but it’s clear that most of them are charting more considerable declines.

This is especially true for TKX, ARB, SPX6900, SEI, and others, that are down between 8% and 15% on the day.

Believe it or not, Bitcoin Cash (BCH) is today’s best performer, gaining more than 6%. Who would have thought?

Screenshot 2025-07-01 at 12.44.19
Source: Quantify Crypto
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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

How Much You Should Invest in Bitcoin (BTC)? Veteran Trader Peter Brandt Weighs in

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TL;DR

  • The expert advises monthly investments in SPY and BTC for long-term success.
  • The leading cryptocurrency is up 6% this week and trades near $108,000. Analysts are split – some see a breakout to $130K – $200K if key resistance levels are cleared, while others warn of a possible drop to $100K or even $95K if momentum fades.

‘Trading is the Wrong Path’

Besides its fundamentals and ability to transform the global financial system, Bitcoin (BTC) has proven to be an excellent investment opportunity.

At least, that was the case in the past few years: the asset went through multiple bear and bull markets to eventually cross the $100,000 mark. Currently, it trades at around $108,000 (according to CoinGecko’s data), representing a 75% increase on a yearly scale and a substantial 43,000% jump compared to its valuation a decade ago.

But does the leading cryptocurrency remain a good investment after this major rally over the years, and how much should people allocate to it? That’s a question many people are trying to figure out.

It seems that there isn’t a direct answer, and it all depends on the risk profile of the investors, as well as other important factors. However, one can turn to certain experts who are experienced enough to give guidance. 

An example is the veteran trader Peter Brandt, who recently suggested that approximately 95% of people fail when trading. Instead, he advised them to excel in their regular jobs, prioritize their families, and invest in homeownership. Last but not least, Brandt recommended making monthly investments, allocating 80% of the amount to SPY (the ETF that tracks the S&P 500 Index) and 20% to BTC.

The Next Potential Targets

Let’s now take a closer look at BTC’s recent performance and explore its chances for a further pump in the short term. The asset has increased in value by approximately 6% over the past week, with numerous analysts predicting a surge to a new all-time high if certain conditions are met.

The X user Cipher X believes “a strong weekly close” above $107,720 could open the door to a further rally to as high as $130,000-$135,000 in Q3 2025.

“Just look at Q4 2024 chart and you’ll see what happened when BTC had its biggest weekly close,” they added.

Merlijn The Trader thinks the final pump for this bull run is coming, envisioning a fresh ATH of around $200,000 towards the end of the year. At the same time, he advised investors to take profits, anticipating a drastic pullback to $95,000 shortly after that.

On the contrary, Ali Martinez argued that the cryptocurrency currently faces a key rejection while the stochastic RSI flashes a death cross on the daily chart. The analyst thinks a plunge to $100,000 is not out of the question unless “we get a sustained close” above $109,000.

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