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Crypto Technical Analysis Report (2) – 9th May 2025
- Despite short-term correlations with traditional markets, the crypto market has outpaced stocks over the past month and six months, indicating a growing decoupling trend.
- Bitcoin mining firm MARA Holdings tripled its BTC reserves year-over-year, but saw a decline in production while missing earnings expectations.
- Bitcoin surpassed $100,000, driven by futures liquidations and political catalysts, reflecting a shift in macro landscape supporting digital assets.
- Recent legislative developments in the U.S. signal increasing institutional and governmental support for Bitcoin and a maturing regulatory environment.
- Ether experienced a 20% surge post-Pectra upgrade rollout, triggering significant short liquidations and potential risks to long positions.
- Institutional staking enhancements post-upgrade could impact Ether's price positively, aligning with historical trends of price spikes following major Ethereum upgrades.
- Reports hint at U.S.-China trade negotiations easing economic tensions, with incremental tariff adjustments indicating a potential path towards de-escalation.
- Optimism around trade negotiations fueled market surges, with President Trump's updates and OCC guidance on crypto trading boosting investor confidence.
- Technical outlooks for Bitcoin, Ether, and SOL indicate potential price movements based on recent candle patterns and support/resistance levels.
- Market updates include El Salvador's collaboration with Nvidia, Japanese firm Metaplanet's crypto treasury expansion, and the GENIUS Act blockage in the Senate.
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