Ethereum price forms a giant bearish rounded top pattern, is it about to crash?

Klarna, the Swedish fintech company known for its Buy Now, Pay Later services, has announced the launch of a USD-pegged stablecoin on the Tempo blockchain, backed by Stripe. This move signifies Klarna's entry into the cryptocurrency market, aiming to enhance cross-border payment efficiency and reduce transaction costs for users.

Bitcoin is currently facing significant selling pressure, struggling to regain the $90,000 mark after a sharp decline from its all-time high. This downturn has led to a negative funding rate, indicating a potential short squeeze that could further impact market dynamics. Analysts are divided, with some suggesting this correction may signal the start of a bear market, while others anticipate a rebound as selling exhaustion sets in.

Solana (SOL) is experiencing a significant rebound, supported by a record $39.5 million inflow into Bitwise's Solana ETF, reinforcing its $128 support zone. This surge in institutional demand comes after a period of market instability, offering renewed optimism for SOL's price recovery.

BNB has recently paused its price movement after retreating from a peak, currently testing a previous resistance level that is now acting as support. This stabilization comes amidst a backdrop of fluctuating market conditions, with BNB's price showing signs of resilience despite recent volatility.

Bitmine has accumulated nearly 70,000 Ethereum tokens but is facing a staggering $4.25 billion in unrealized losses due to the cryptocurrency's recent decline below the $3,000 mark. The market is experiencing heightened selling pressure as traders adjust their positions amid a cautious sentiment shift.

Naver Financial, a prominent South Korean internet company, is set to launch a stablecoin wallet service next month, marking a significant step in the cryptocurrency sector. This initiative aims to enhance digital currency transactions and provide users with a secure platform for managing stablecoins.

XRP has seen a significant decline in open interest, dropping to its lowest level since November 2024, as reported by Binance. This downturn reflects heavy selling pressure amid a broader cryptocurrency market struggling with uncertainty and risk aversion, leading to tightening liquidity conditions.

Metaplanet has secured $130 million through a credit facility to enhance its Bitcoin acquisitions, despite the ongoing volatility in the cryptocurrency market. This leveraged strategy aims to capitalize on current market dynamics and expand the company's holdings in Bitcoin.