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Bitcoin copying 2022 ‘almost perfectly’ as trader sees key support failing
Bitcoin (BTC) hovered near two-month lows on Wednesday as 2022 bear-market comparisons returned.
Data from TradingView showed cooling BTC price volatility after a trip to $65,362 on Bitstamp — a level last seen in early April.
After billions of dollars in liquidations, BTC/USD fielded new warnings that the worst of the bear market may still be ahead.
Trader and analyst Rekt Capital focused on the 50-month exponential moving average (EMA) trend line at $66,628.
“Over time, Bitcoin is likely to breakdown from this EMA and continue macro downside in this Bear Market,” hewarnedin one of several posts on X.
Rekt Capital said that if history were to repeat the 2022 bear market, price should now see a relief bounce to form a lower high before returning to the 50-month EMA, which would, in turn, fail as support.
“Historically, Bitcoin tends to rebound initially from the 50-Month EMA but then loses it as support as the Bear Cycle progresses,” he added.
Bitcoin has hit ‘max fear’ below $67K as analysis sees BTC price rebound
Bitcoin (BTC) is due for a “relief bounce” next as crypto market sentiment hits two-month lows.
In X analysis on Wednesday, commentary account Cryptic Trades flagged a collapse in the Crypto Fear & Greed Index.
Fear & Greed uses a basket of indicators to produce a normalized sentiment gauge for crypto between one and a hundred. Readings below 25 are classed as reflecting “extreme fear” among investors.
On Wednesday, the Index stood at 11/100 — its lowest level since April 5. Since Monday, its score has more than halved, with Monday measuring 29/100, already within the “fear” bracket.
StanChart says Ethereum price will catch up to bullish internal metrics
Standard Chartered says Ethereum’s network activity remains close to record levels even as Ether (ETH) trades far below last year’s highs, arguing that the gap between usage and price could eventually narrow.
Ethereum’s internal metrics, including transaction counts and total value locked in ETH terms, remain close to record levels, according to a Thursday report from Standard Chartered’s digital assets research team. ETH has fallen about 57% from its August 2025 peak of above $4,800 to under $2,000 at the time of writing, according to Coingecko data.
StanChart’s global head of digital assets research, Geoff Kendrick, reaffirmed its price targets of $4,000 by the end of 2026 and $40,000 by 2030, implying a return of the ETH/BTC ratio to its 2021 highs around 0.08.
The call comes as investors debate whether Ethereum’s growing dominance in stablecoins and tokenized real-world assets will eventually translate into stronger returns for ETH itself, despite persistent ETF outflows and weak price performance.
Kendrick likened the current disconnect to Amazon during the dot-com bust, arguing that “everything inside the company was going the right way” even as the stock price slumped.
Trader says XRP price setting ‘biggest bear trap’ after June monthly open
XRP dropped to $1.25 on Tuesday after a market-wide sell-off, erasing all the gains made since early February.
Data from TradingView shows that the XRP price opened June at $0.33, just below the 50-month exponential moving average (EMA).
More importantly, XRP is also trading “directly on/slightly below the White MACRO Trend Line,” analyst Egrag Cryptosaidin a Monday post on X, referring to the multi-year ascending trend line that has supported the price since 2017.
In previous instances, when XRP opened the month below the 50 EMA during macro drawdowns, the “structure often begins to form a bottoming zone,” as shown in the chart below. Currently, the price is trading below the macro trend line. The price might wick below it before recovering, as seen in 2020, 2023 and 2024.
TON jumps 15% as The Open Network plans rebrand to Gram
The Open Network says it is planning to rebrand its Toncoin (TON) token to Gram (GRAM), the original name of the network’s cryptocurrency in its first white paper.
“Gram was the original name of TON’s currency in the first white paper,” Telegram and TON founder Pavel Durov posted to Telegram on Monday. “We’re returning to our roots — and starting a new chapter.”
The rebranding will “pave the way for what comes next,” and the transition will take around three weeks, he added.
The change revives the original token name from TON’s 2018 whitepaper, which Telegram abandoned after the US Securities and Exchange Commission blocked its $1.7 billion initial coin offering (ICO) in 2020.
The move followsTelegram’s takeoverfrom the TON Foundation as the network’s primary driver and largest validator in May.
