Bitcoin Is Not Stopping At $123,000 — Technical Indicators Point To $140,000 Top

Bhutan's government just made headlines by selling off over $60 million in Bitcoin over four days—about 513 BTC. While it's only a fraction of their total holdings, the quick dump raised eyebrows, especially since Bhutan isn't exactly a crypto hotspot.

Editor’s Note: Bhutan's sudden Bitcoin sale might not rock the market, but it’s a curious move for a country that’s kept its crypto dealings pretty quiet. Are they cashing out profits, rebalancing assets, or reacting to broader crypto trends? Either way, it’s a reminder that even governments are playing the volatile crypto game—and their moves can hint at bigger shifts in how nations view digital currencies.

Ethereum briefly climbed above $3,000 but is now hovering around $2,940, struggling to maintain its upward momentum. A key support level at $2,980 was broken, signaling potential for a further dip toward $2,900—unless buyers step in to stabilize the price.

Editor’s Note: For crypto traders, this is a classic "wait and see" moment. Ethereum’s inability to hold above $3K suggests short-term uncertainty—whether this is a minor hiccup or the start of a deeper correction depends on whether $2,900 holds as a floor. Not panic-worthy, but worth keeping an eye on.

Hungary just cracked down hard on unregulated crypto trading—now, running or using unauthorized exchanges could land you in prison for up to two years. The government updated its Criminal Code to include these penalties, signaling a sharp turn toward stricter oversight of digital assets.

Editor’s Note: This isn’t just a slap on the wrist—it’s a serious escalation in Hungary’s approach to crypto. While some might see it as a move to protect investors from scams, others will worry about overreach chilling innovation or pushing crypto activity underground. Either way, it’s a clear warning to traders and platforms: play by the rules, or face real consequences.

Bitcoin just hit a record high of $123,000, but there’s a catch—investors are suddenly moving a lot more BTC onto exchanges, which often signals they’re looking to cash out. Analysts are eyeing this as a potential warning sign that prices might dip soon, even if the long-term outlook stays strong.

Editor’s Note: When Bitcoin hits a new peak, it’s usually cause for celebration, but a flood of coins heading to exchanges can mean traders are getting ready to sell. This doesn’t necessarily spell doom—crypto markets are volatile, and pullbacks are normal—but it’s a heads-up for anyone betting on uninterrupted rallies. If you’re holding BTC, buckle up; things might get bumpy for a bit.

Economist Steve Hanke, a well-known critic of Bitcoin, has doubled down on his skepticism, calling the cryptocurrency "valueless" and slamming its use as a treasury strategy. His blunt dismissal adds fuel to the ongoing debate about Bitcoin’s role in finance, especially as some companies and governments experiment with holding it as an asset.

Editor’s Note: Hanke’s harsh take isn’t new, but it’s a reminder of the deep divide over Bitcoin’s legitimacy. While some see it as the future of money, others—especially traditional economists—view it as a speculative gamble. His comments matter because they reflect broader skepticism that could influence policymakers and investors still on the fence about crypto.