Daily Crypto Signals: Bitcoin to Test $112K, XRP Treasury Reserves Surge
Bitcoin bulls are returning to social media as BTC approaches $112,000 amid positive sentiment ratios hitting seven-month highs, while XRP
Quick overview
- Bitcoin is experiencing a bullish resurgence as it approaches $112,000, with social media sentiment reaching seven-month highs.
- President Trump has proposed the GENIUS Act for stablecoins and the CLARITY Act for digital asset regulation, signaling a potential regulatory turning point for the crypto market.
- XRP is gaining institutional interest, with companies announcing treasury reserves totaling nearly $1 billion and launching USDC on the XRP Ledger.
- Ethereum shows strong performance with a 108% rally since April, indicating growing institutional confidence and potential for further gains.
Bitcoin bulls are returning to social media as BTC approaches $112,000 amid positive sentiment ratios hitting seven-month highs, while XRP gains institutional attention with multiple companies announcing treasury reserves totaling nearly $1 billion. President Trump outlined comprehensive crypto plans including the GENIUS Act for stablecoins and the CLARITY Act for digital asset regulation, as traditional finance integration approaches a potential “tipping point” according to financial stability officials.
Crypto Market Developments
The crypto market faces a regulatory turning point as President Trump outlined his digital asset priorities at Coinbase’s State of Crypto Summit. Trump announced support for the GENIUS Act creating dollar-backed stablecoins and the CLARITY Act establishing comprehensive regulatory frameworks, stating his administration will “create clear and simple market frameworks that will allow America to dominate the future of crypto and Bitcoin.”
Meanwhile, Financial Stability Board Chair Klaas Knot warned that crypto’s integration with traditional finance is approaching a “tipping point,” citing reduced entry barriers through crypto ETFs and stablecoin issuers holding substantial US Treasuries. The stablecoin sector continues expanding with Circle’s USDC launching on XRP Ledger, supporting the broader regulatory push as the sector reaches over $237 billion in market capitalization.
Bitcoin Getting Ready to Break $112,000?
Bitcoin BTC/USD is experiencing renewed bullish momentum approaching $112,000, with social media sentiment hitting seven-month highs. As of June 11, there are 2.12 positive Bitcoin comments for every negative comment across platforms, matching levels seen during Trump’s election victory when Bitcoin first surpassed $70,000.
However, technical analysis suggests potential volatility. Bitcoin reached $110,653 on Monday but dropped 3.5% to $106,600 Thursday amid Middle East tensions. Analyst Axel Adler Jr. identified a “soft reversal point” with long positions taking profits, warning of potential consolidation below $108,000.
A concerning bull trap pattern emerges from fractal analysis, mirroring January 2025’s setup. Bitcoin’s rally from $100,500 to $110,000 shows similar characteristics: breaking descending trendlines, failing to take previous highs, and RSI patterns suggesting possible rejection to $100,000 support levels. Invalidation requires Bitcoin sustaining above $108,000.
Ethereum Price Prediction: $3,670 Next Target?
Ethereum ETH/USD demonstrates exceptional strength with a 108% rally from April 9 to Wednesday, reaching $2,880 and significantly outperforming the broader crypto market’s 49% gain. ETH futures open interest hit an all-time high of over $20 billion Thursday, up 155% since April 9, indicating growing institutional confidence and new money flowing into contracts.
Ethereum’s strength against Bitcoin is particularly notable, with the ETH/BTC pair up nearly 50% since April 9, reaching a 14-week high. MN Capital’s Michael van de Poppe observed this suggests “the bull market is finally starting” with the market’s potential being “underestimated.”
Technical analysis reveals a bullish cup-and-handle pattern since February, with ETH retesting neckline resistance at $2,800. A decisive daily close above this level could trigger targets above $4,170, with some projections suggesting 30% gains to $3,670.
USDC Launces of XRP Ledger
XRP XRP/USD gains significant institutional traction with multiple companies announcing substantial treasury reserves totaling nearly $1 billion. Trident Digital Tech Holdings leads with plans for up to $500 million, joined by Webus ($300 million), VivoPower ($100 million), and Wellgistics Health ($50 million). Trident’s CEO Soon Huat Lim cited belief in “the transformative potential of blockchain technology for capital allocation and cross-border value transfer.”
Unlike simple buy-and-hold strategies, companies plan to generate yield through staking mechanisms and ecosystem engagement, with reserves launching in 2025’s second half pending regulatory conditions.
XRP’s ecosystem expansion received a boost with Circle’s USDC launching on XRP Ledger, enabling XRP as a bridge currency for transferring stablecoins between decentralized exchanges. RippleX’s Markus Infanger emphasized stablecoins as “key entry points connecting traditional financial markets with the crypto space.”
The institutional focus positions XRP alongside Bitcoin and Solana as preferred corporate treasury assets, reflecting growing confidence in its cross-border payment utility amid potential regulatory clarity through the GENIUS and CLARITY Acts.
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