The SEC subpoenaed PayPal in late 2023 over its dollar-backed stablecoin.

The SEC has dropped its investigation into PayPal's PYUSD stablecoin, removing a significant regulatory obstacle for the company's dollar-backed cryptocurrency. The probe, initiated in late 2023 via subpoena, had raised concerns about compliance, but its closure signals a smoother path forward for PayPal's crypto ambitions.  

SEC Ditches PayPal's PYUSD Probe, Removing Key Regulatory Hurdle for Its Stablecoin

Algorithmic trading firm Two Prime formally dropped its exposure to Ethereum (ETH), stating that ETH now trades as a memecoin rather than a predictable asset. According to CEO Alexander Blume, the firm will now exclusively manage and lend against Bitcoin (BTC). He added that the firm believes that Bitcoin is the only digital asset that [&#8230;]
The post <a href="https://cryptoslate.com/two-prime-drops-ethereum-labeling-it-a-memecoin-amid-waning-institutional-interest/">Two Prime drops Ethereum, labeling it a memecoin amid waning institutional interest</a> appeared first on <a href="https://cryptoslate.com">CryptoSlate</a>.

Algorithmic trading firm Two Prime formally dropped its exposure to Ethereum (ETH), stating that ETH now trades as a memecoin rather than a predictable asset. According to CEO Alexander Blume, the firm will now exclusively manage and lend against Bitcoin (BTC). He added that the firm believes that Bitcoin is the only digital asset that […]
The post Two Prime drops Ethereum, labeling it a memecoin amid waning institutional interest appeared first on CryptoSlate.

Algorithmic trading firm Two Prime has ended its exposure to Ethereum (ETH), criticizing it as a "memecoin" due to its unpredictable trading behavior. CEO Alexander Blume announced the firm will now focus solely on Bitcoin (BTC), citing it as the only reliable digital asset for institutional management and lending.  

Two Prime drops Ethereum, labeling it a memecoin amid waning institutional interest

Dogecoin’s price action is beginning to tell a quiet but compelling story, as key structural signals align to support a potential move higher. While the meme coin has stayed under the radar recently, a closer look at its chart reveals a foundation of gradually rising lows and well-respected support levels, which are classic traits of an asset quietly building strength. This setup suggests that Dogecoin may be forming a base for a larger upside move. If confirmed, the path ahead could see DOGE testing higher resistance zones as confidence subtly returns to the market. Ascending Wedge Emerges On DOGE’s 30-Minute Chart According to a recent analysis shared by Thomas Anderson on X, Dogecoin is currently forming an ascending wedge pattern on the 30-minute chart, a technical setup often associated with potential breakout scenarios. At the time of his post, DOGE was trading around $0.17397, testing the 200-period moving average. Related Reading: What Will Send Dogecoin Soaring? Analyst Reveals The Key Drivers Despite this overhead pressure, the price remains securely above a critical support zone at $0.16424, reinforcing the strength of the current uptrend on this lower timeframe. Anderson further emphasized that short-term momentum appears bullish, supported by a steady increase in trading volume, a positive sign that market participants are engaging with the move. However, he issued a note of caution based on broader context: the 1-hour chart shows DOGE is trading near the upper boundary of the pattern.  As the price approaches the pattern’s upper boundary, the potential for rejection and a pullback grows. Traders are advised to stay alert and consider both the bullish wedge on the M30 and the larger bearish context on H1, as this confluence might lead to heightened volatility in the near term. Dogecoin Nears Falling Wedge Breakout In a recent update shared on X, Whales_Crypto_Trading pointed out that DOGE is trading at the edge of a falling wedge pattern on the daily chart, a technical formation hinting at upcoming bullish reversals. This pattern has been developing over time, showing a gradual narrowing of price swings as DOGE coils within a tightening range. Related Reading: Dogecoin (DOGE) Eyes Breakout: Could an Upside Rally Spark Full-On Recovery? According to Whales_Crypto_Trading, if DOGE successfully breaks out of this wedge, it could unleash a powerful rally in the medium term, pushing prices 80–100% higher. This projection aligns with historical behavior following similar wedge breakouts, where compressed price action leads to explosive moves once resistance is cleared. The setup highlights a crucial moment for DOGE, with bulls looking for a confirmation signal while bears attempt to maintain downward pressure. A clean breakout could shift sentiment decisively, turning this long-standing consolidation into a strong upward trend. Featured image from Getty Images, chart from Tradingview.com

Dogecoin's price chart shows aligning structural signals, including rising lows and strong support levels, indicating a potential buildup for a future upward move. While the meme coin has been relatively quiet, these technical patterns suggest a confident foundation for higher price levels.  

Dogecoin Structural Signals Align: Chart Suggests A Quietly Confident Path Toward Higher Levels

<img src="https://images.cointelegraph.com/images/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjUtMDUvMDE5NjhjMmItNTRiNy03MDhhLTgxOTItYTdhMjYxNTU1ZTY1.jpg"><img src="https://images.cointelegraph.com/images/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjUtMDUvMDE5NjhjMmItNTRiNy03MDhhLTgxOTItYTdhMjYxNTU1ZTY1.jpg" alt="Bitcoin trader says BTC’s cycle top in $125K to $150K range if certain conditions are met">Key takeaways:<ul><li>Bitcoin could reach $150,000 by August or September of this year if BTC breaks above the parabolic slope pattern. </li></ul>Bitcoin <a data-ct-non-breakable="null" href="https://cointelegraph.com/bitcoin-price" rel="" target="_self" text="null" title="https://cointelegraph.com/bitcoin-price">(BTC) </a>price jumped to new quarterly highs at $96,700 on May 1, a day after the <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/bitcoin-selling-at-95-k-is-profit-taking-pressure-test-but-btc-whales-are-still-buying" rel="" target="_self" text="null" title="https://cointelegraph.com/news/bitcoin-selling-at-95-k-is-profit-taking-pressure-test-but-btc-whales-are-still-buying">US GDP contracted</a> -0.3% for the first time since Q2 2022. Amid heightened economic concerns, the <a data-ct-non-breakable="null" href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html" rel="nofollow noopener" target="_blank" text="null" title="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html">probability</a> of a Federal Reserve interest rate cut rose to 62.8% for the June 18 Federal Reserve meeting. Over the past 24 hours, short position liquidations exceeded $137 million, with Alphractal founder Joao Wedson <a data-ct-non-breakable="null" href="https://x.com/joao_wedson/status/1917938885234958731" rel="nofollow noopener" target="_blank" text="null" title="https://x.com/joao_wedson/status/1917938885234958731">observing</a> that BTC's price momentum continues to favor bullish trends.<figure><img alt="Bitcoin trader says BTC&rsquo;s cycle top in $125K to $150K range if certain conditions are met" src="https://s3.cointelegraph.com/uploads/2025-05/01968c39-ee04-7e1e-9a00-a5af1fe7fef3" title=""><figcaption style="text-align: center;">Bitcoin aggregated liquidation heatmap. Source: X.com</figcaption></figure><h2>Peter Brandt predicts a $150K Bitcoin top by Q3</h2>In a recent post on X, veteran trader Peter Brandt forecasted a Bitcoin price rally, potentially reaching $125,000 to $150,000 by August or September 2025. The trader <a data-ct-non-breakable="null" href="https://x.com/PeterLBrandt/status/1917927972625121316" rel="nofollow noopener" target="_blank" text="null" title="https://x.com/PeterLBrandt/status/1917927972625121316">predicted</a> a parabolic arc pattern in Bitcoin&rsquo;s price chart&mdash;a technical formation often signaling rapid rises followed by sharp corrections, as seen in the 2017 Bitcoin surge. <figure><img alt="Bitcoin trader says BTC&rsquo;s cycle top in $125K to $150K range if certain conditions are met" src="https://s3.cointelegraph.com/uploads/2025-05/01968c46-29f0-7ae2-86df-3bd3cfa310ca" title=""><figcaption style="text-align: center;">Bitcoin 1-week analysis by Peter Brandt. Source: X.com</figcaption></figure>Brandt noted that Bitcoin must reclaim its broken parabolic slope to achieve the above target. However, he cautioned that a 50%+ correction could follow the peak, reflecting the pattern&rsquo;s characteristic volatility. From an onchain perspective, Bitcoin researcher Axel Adler Jr. pointed out that Bitcoin is on the cusp of a &ldquo;start&rdquo; rally zone. The analyst underlined three scenarios, with the optimistic (bull) case outlining a price target above $150,000. Adler Jr. <a data-ct-non-breakable="null" href="https://cryptoquant.com/insights/quicktake/68132a92d8b2fe24bcd055cc-Bitcoin-is-warming-up-3-scenarios-that-could-shape-the-next-rally" rel="nofollow noopener" target="_blank" text="null" title="https://cryptoquant.com/insights/quicktake/68132a92d8b2fe24bcd055cc-Bitcoin-is-warming-up-3-scenarios-that-could-shape-the-next-rally">added,</a> <blockquote>&ldquo;If the Ratio breaks through 1.0 and holds above it, the NUPL/MVRV metrics will show a new impulse, and the price could reach $150-175K, repeating the cycle logic of 2017 and 2021.&rdquo;</blockquote><figure><img alt="Bitcoin trader says BTC&rsquo;s cycle top in $125K to $150K range if certain conditions are met" src="https://s3.cointelegraph.com/uploads/2025-05/01968c59-2865-7b0b-8e14-1e1af071cb93" title=""><figcaption style="text-align: center;">Bitcoin Composite Index. Source: CryptoQuant</figcaption></figure>In a baseline scenario, BTC's price may consolidate within a $90,000 to $110,000 range if new capital inflows remain limited and existing investors do not increase their positions.Lastly, a bearish case could unfold if further profit-taking from short-term holders takes place, leading to a correction down to $85,000-$70,000. Over the past two weeks, Bitcoin has displayed a consistent breakout pattern, surging 13% before entering sideways consolidation, then breaking out again to reach $93,000&ndash;$96,000. BTC is currently breaking out of its existing resistance range. Still, as shown in the chart below, a significant volume cluster between $96,000 and $99,000 suggests a phase of consolidation before Bitcoin can test the $100,000 mark. <figure><img alt="Cryptocurrencies, Bitcoin Price, Markets, Price Analysis, Market Analysis" src="https://s3.cointelegraph.com/uploads/2025-05/01968c7d-4b20-7965-96e8-57fd68cf887b" title=""><figcaption style="text-align: center;">Bitcoin 1-day chart. Source: Cointelegraph/TradingView</figcaption></figure><a data-ct-non-breakable="null" href="https://cointelegraph.com/news/bitcoin-price-blast-higher-fed-rate-cut-odds-60" rel="" target="_self" text="null" title="https://cointelegraph.com/news/bitcoin-price-blast-higher-fed-rate-cut-odds-60">Related: Bitcoin price about to &lsquo;blast&rsquo; higher as Fed rate cut odds jump to 60%</a>This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.<template data-name="subscription_form" data-type="markets_outlook" label="Subscription Form: Markets Outlook"></template>

Key takeaways:

Bitcoin could reach $150,000 by August or September of this year if BTC breaks above the parabolic slope pattern. 

Bitcoin (BTC) price jumped to new quarterly highs at $96,700 on May 1, a day after the US GDP contracted -0.3% for the first time since Q2 2022. Amid heightened economic concerns, the probability of a Federal Reserve interest rate cut rose to 62.8% for the June 18 Federal Reserve meeting. 
Over the past 24 hours, short position liquidations exceeded $137 million, with Alphractal founder Joao Wedson observing that BTC's price momentum continues to favor bullish trends.
Bitcoin aggregated liquidation heatmap. Source: X.com
Peter Brandt predicts a $150K Bitcoin top by Q3
In a recent post on X, veteran trader Peter Brandt forecasted a Bitcoin price rally, potentially reaching $125,000 to $150,000 by August or September 2025. The trader predicted a parabolic arc pattern in Bitcoin’s price chart—a technical formation often signaling rapid rises followed by sharp corrections, as seen in the 2017 Bitcoin surge. 
Bitcoin 1-week analysis by Peter Brandt. Source: X.com
Brandt noted that Bitcoin must reclaim its broken parabolic slope to achieve the above target. However, he cautioned that a 50%+ correction could follow the peak, reflecting the pattern’s characteristic volatility. 
From an onchain perspective, Bitcoin researcher Axel Adler Jr. pointed out that Bitcoin is on the cusp of a “start” rally zone. The analyst underlined three scenarios, with the optimistic (bull) case outlining a price target above $150,000. Adler Jr. added, 
“If the Ratio breaks through 1.0 and holds above it, the NUPL/MVRV metrics will show a new impulse, and the price could reach $150-175K, repeating the cycle logic of 2017 and 2021.”
Bitcoin Composite Index. Source: CryptoQuant
In a baseline scenario, BTC's price may consolidate within a $90,000 to $110,000 range if new capital inflows remain limited and existing investors do not increase their positions.
Lastly, a bearish case could unfold if further profit-taking from short-term holders takes place, leading to a correction down to $85,000-$70,000. 
Over the past two weeks, Bitcoin has displayed a consistent breakout pattern, surging 13% before entering sideways consolidation, then breaking out again to reach $93,000–$96,000. 
BTC is currently breaking out of its existing resistance range. Still, as shown in the chart below, a significant volume cluster between $96,000 and $99,000 suggests a phase of consolidation before Bitcoin can test the $100,000 mark. 
Bitcoin 1-day chart. Source: Cointelegraph/TradingView
Related: Bitcoin price about to ‘blast’ higher as Fed rate cut odds jump to 60%
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

A Bitcoin trader predicts that BTC could surge to $125K–$150K by August or September if it breaks above a parabolic slope pattern, following a recent price jump to $96,700 amid economic concerns and rising expectations of a Fed rate cut.  

Bitcoin trader says BTC’s cycle top in $125K to $150K range if certain conditions are met

The two assets have had inverse-correlated ETF flows on four different days in the last week.

As gold prices continue their downward correction, Bitcoin may benefit due to their recent inverse correlation in ETF flows, observed on multiple days over the past week.  

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SEC Ditches PayPal's PYUSD Probe, Removing Key Regulatory Hurdle for Its Stablecoin

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