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"ETH Bulls Rally Strong: Chart Pattern Hints at Massive $4,000 Breakout!"

The Crypto Basic

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#Ethereum holds above $2,400 with a potential breakout at $2,700, aiming for a 50% rally toward the $4,000 mark.  

Read more on: https://thecryptobasic.com/2025/05/22/ethereum-builds-rounding-bottom-targets-50-breakout-rally-to-4000/
#CryptoNewsFlash 

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#VET price reclaims $0.030 and signals a potential breakout rally to the $0.060 level. Derivatives data shows a bullish bias, with a 5.75% rise in open interest. As top coins rally, boosting the total crypto market capitalization to $3.44 trillion, VeChain records a massive surge of 8.58%, surpassing the 200-day EMA. With this bullish comeback, VeChain hints at a potential inverted head-and-shoulders pattern, targeting a surge above $0.060. VeChain Price Analysis On the daily chart, VeChain’s price action showcases a bullish inverted head-and-shoulders pattern, with the neckline near $0.0327. This key resistance level coincides with the 23.60% Fibonacci level. VeChain forms its third consecutive bullish candle following the 200-day EMA breakout. Currently, the VET token trades at $0.030, reclaiming this psychological level. As the uptrend gains momentum, the daily RSI line bounces off the halfway mark and surpasses the 14-day SMA. With the RSI line pointing higher, the distance from the overbought zone indicates significant room for growth in VeChain. Additionally, the 200-day EMA breakout increases the likelihood of an uptrend in the 50- and 100-day EMA lines, potentially leading to a positive crossover. According to Fibonacci levels, a potential pattern breakout will likely surpass the 61.80% Fibonacci level at $0.055. This estimate is derived by adding the pattern’s depth to the breakout point, suggesting an 88% rally to $0.061. On the flip side, if the altcoin fails to break above the 23.60% Fibonacci level, a potential retest of the 50-day EMA at $0.027 could occur. VET Derivatives Supports Bullish Bias Amid the sudden surge in bullish pressure, VeChain derivatives market witnesses a significant boost. Open interest has surged by 5.75%, reaching $86.47 million. Notably, the funding rate remains steady at around 0.010%, signaling consistent bullish intent... #CryptoNewsCommunity

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David Sacks, the White House crypto and AI czar, has expressed confidence that the GENIUS stablecoin bill will pass with bipartisan support. Speaking in an interview at CNBC’s Closing Bell yesterday, Sacks emphasized that the stablecoin legislation, currently under deliberation in the Senate, will soon become a law. He noted that the significant bipartisan support for the bill has fueled the expectation that it will pass. GENIUS Act Approval Almost Certain: Crypto Czar The Guiding and Establishing National Innovation for US Stablecoin (GENIUS) bill recently advanced in the US Senate after an initial scare. On Monday, 16 Democrats voted in support of the bill, pushing it past the 60-vote threshold required to move the legislation for final passage. The positive development followed a bipartisan effort, led by Senator Cynthia Lummis and Bill Hagerty, to avoid a repetition of the May 8 pushback. With the bill failing to advance at the first trial amid Democrats’ rebellion, these senators spearheaded the legislation amendment to address some of the concerns raised. Meanwhile, Monday’s voting outcome has fueled Sacks’ expectations that the stablecoin legal framework legislation will receive bipartisan senatorial approval. He told CNBC that the 66-32 polling results averted a possible filibuster and demonstrated an agreement by both Democrats and Republicans on the passing of the GENIUS Act. Stablecoins to Boost US Treasury Demand Furthermore, Sacks stated that another reason behind his confidence that the bill will pass is the possible impact of stablecoin adoption on the US economy. The crypto czar stressed that the real-world asset-pegged cryptocurrency offers America a modern, faster, and cost-effective payment rail. Moreover, the stablecoin legislation would also extend the US dollar’s dominance globally. Earlier descriptions from Sacks suggest that the dominance of dollar-pegged stablecoins would fuel the demand and utility of the leading fiat currency, extending dependence on the US dollar online... #CryptoNewss

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Strategy executive chairman Michael Saylor said long-term Bitcoin holders haven’t lost money, as BTC hits a new all-time high. Bitcoin surged past $111,800 on Thursday, marking a new record as Treasury yields rose following a weak 20-year U.S. bond auction. The price of the leading digital asset rebounded sharply from a brief dip to $106,000 earlier in the week. It reclaimed its previous peak of $109,200 on Wednesday before setting a new record near $112,000. The broader market responded positively, with crypto sentiment buoyed by the strong price action. No One Lost Money Buying Bitcoin This price action notably prompted commentary from Michael Saylor, chairman of Strategy (formerly MicroStrategy). In an X post, he reiterated the view that “no one has ever lost money buying Bitcoin.” This sentiment was echoed by popular crypto influencer Altcoin Daily, which noted that, in Bitcoin’s 16-year history, 100% of holders are currently in profit. All Bitcoin Wallets in Profit Indeed, on-chain data from IntoTheBlock confirmed that the entire tracked Bitcoin supply is currently held at a profit. Specifically, the “In The Money” wallets, those holding BTC purchased below the current market price, now account for 100% of all holdings, totaling 19.89 million BTC. The value of these profitable holdings is estimated at approximately $2.21 trillion. At the same time, no wallets are classified as “Out Of The Money,” meaning there are currently zero tracked BTC holdings at a loss. This reflects that Bitcoin’s market price now exceeds all historical purchase prices among wallets included in the dataset. However, it’s important to note that this data reflects only unrealized gains and does not account for any realized losses from those who sold at a dip.. #Crypto

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"Bitcoin Breaks Records – Here’s Why It Might Be Just Getting Started"

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The U.S. SEC has delayed its decision on three spot-based ETF applications seeking to track XRP and Dogecoin. The proposed funds affected include the filings of Grayscale, 21Shares, and the Grayscale Dogecoin Trust. According to recent filings on its website, the SEC has initiated proceedings on these ETFs and has requested public comments from interested parties. Similarly, the SEC has postponed its decision on an amendment that would allow the Bitwise Ethereum ETF to permit staking. This amendment aims to broaden investors’ exposure to the Bitwise Ethereum ETF by incorporating staking yields. SEC Calls for Public Comments This request aims to help the securities regulator gather public input on the policy and legal concerns related to ETF filings. In the meantime, the commission clarified that it has not reached any conclusions regarding the legal and policy concerns. However, it signaled that the proposals only raised substantive questions that deserve broader input from the public. Notably, the comment period will run for 21 days from the publication of the recent filings in the Federal Register. The period for rebuttal comments is expected to linger for 35 days after publication in the Federal Register. Not New It is worth noting that the SEC’s latest action does not come as a surprise to crypto enthusiasts. Over the past few months, the securities regulator has postponed its decision on multiple crypto ETF proposals, including those seeking to track XRP and Dogecoin performance. In March, the SEC extended the review period for various crypto ETF applications from Grayscale, 21Shares, VanEck, and Canary. At the time, the SEC extended the decision deadline for Grayscale’s XRP Trust ETF application to May 21. It has now extended the review period once again to determine whether the proposed products have the necessary safeguards to prevent fraud and market manipulation, as mandated by Section 6(b)(5) of the Securities Exchange Act... #Crypto

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