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Investor confidence is strong, but whales and leverage are flashing warning signs.
Dogecoin (DOGE) prices surged by over 17% in the past week, in line with a bullish altcoin performance, pushing the total crypto market cap to $4 trillion. The prominent altcoin is now facing major resistance at the $0.25 price level, the result of which bears significant implications for the current positive momentum. Popular market analyst Ali Martinez has weighed in on this situation, highlighting a chart pattern that favours a massive price breakout in the DOGE market. Related Reading: Dogecoin Price Prediction: Expect 60% Liftoff If This Channel Breaks: Analyst Double Bottom Formation Tips DOGE For 82% Rally In an X post on July 18, Ali Martinez presented a bullish technical analysis of the DOGE daily chart, hinting that the altcoin holds significant potential for a sustained rally in the short term. Martinez’s post shows that DOGE price movement over the six months has carved a textbook double bottom pattern, i.e., a technical setup that typically signals a positive trend reversal. The double bottom pattern is a classic bullish formation, featuring two roughly equal lows separated by a peak, i.e, the neckline in between. In the chart above, this pattern is noticed with DOGE forming lows near $0.13–$0.15 in April and June, separated by a rally toward $0.25 in May, representing the pattern’s neckline. Notably, the crypto market surge over the last month has pushed DOGE towards $0.24 again, thereby completing the W shape of the double bottom pattern. However, to validate the bullish potential of this chart pattern, market bulls must hold a decisive breakout above $0.25 resistance, which will typically be interpreted as a strong buy signal, projecting further gains ahead. This is a highly possible scenario as the steep recovery from the June lows shows increasing bullish momentum with buyers stepping in with higher volume, pushing price action upward in a nearly uninterrupted fashion. According to Ali Martinez, a successful clearance of the $0.25 neckline paves DOGE’s way for a rally to $0.42, hinting at a potential 82.3% gain on present market prices. On the other hand, another consecutive rejection around $0.25 price region would dent the current bullish momentum and possibly initiate a return to support levels around the $0.13–$0.15 region. Related Reading: Ethereum Road To $10,000: Replay Of May’s Playbook Predicts Another Breakout DOGE Price Overview At the time of writing, DOGE trades at $0.25 following a 7.84% increase in the past 24 hours. Meanwhile, the asset’s daily trading volume is up by 108.5% suggesting suggesting a surge in market participation and growing bullish momentum, as traders continuously position themselves for a prolonged uptrend. With a market cap of $34.95 billion, DOGE retains its position as the ninth-largest cryptocurrency and largest memecoin in the world. Featured image from Unsplash, chart from Tradingview
In a shocking turn of events, turns out Treasury Secretary Scott Bessent is the reason Jerome Powell still has a job today. While the White House was stirring chaos over the Federal Reserve chair, Scott stepped in behind the scenes, sat down with Trump, and made one thing clear: firing Powell would be a mess. And not the fun, ratings-friendly kind Trump likes, this one would backfire. Badly. According to the Journal, Scott privately urged Trump to stay put, arguing that a high-profile showdown with the Fed chair, just ten months before Powell’s term ends, would do more harm than good. He laid out three points. First, markets were stable, reacting well to Trump’s policies. Second, the Fed was already signaling two possible rate cuts this year. And third, firing Powell could trigger legal hell and a political fight that Trump doesn’t need during an election cycle. Scott warned Trump about legal risks and GOP pushback Trump had been toying with the idea of firing Powell for months. His frustration with the Fed was no secret. The president kept complaining that Powell was dragging his feet on interest rate cuts, which Trump believes are needed to reduce federal debt expenses. But last week, it nearly escalated. A senior White House official told reporters that Trump had privately said he might go ahead and remove Powell. Hours later, Trump walked that back publicly, telling press he wasn’t planning to do so. But by then, the fire had already hit the markets. Investors got spooked. Even the idea that a president might remove a Fed chair over a policy disagreement was enough to rattle confidence. And Scott knew it. So did Wall Street. If Powell had been fired, the Fed’s independence would’ve been in serious doubt. The central bank has to make unpopular calls sometimes, and if its leader is seen as replaceable over policy differences, the whole structure begins to crumble. But Scott didn’t just talk markets. He warned Trump that Powell wouldn’t go quietly. “If you fire him now, he’ll sue,” Bessent told the president, according to one person briefed on the conversation. The lawsuit could last months, meaning Trump would get no benefit from the decision. Just headlines and headaches. And to be honest, he’s already getting a ton of that on his own anyway. It doesn’t stop there. Firing Powell could leave the Fed leaderless. The Senate would need to confirm a new chair, but in August, most lawmakers aren’t even in D.C. And even if they were, several Republican senators already made clear they oppose any attempt to remove Powell early. Senator John Thune told Fox News flat-out: “I think the markets want an independent Federal Reserve.” That kind of pushback could block any replacement Trump nominates. And don’t forget who takes over if Powell leaves. The vice chair. Right now, that’s Philip Jefferson, a Biden pick and Powell ally. So Trump wouldn’t just lose a fight; he’d hand the keys to someone even less aligned with him. All of this is what Scott hammered home. Other Trump officials want Powell out over office renovation costs While Scott played defense, others in Trump’s camp are still looking for a way to push Powell out. Budget director Russell Vought is leading that charge. He’s focused on a $2.5 billion office renovation project that the Fed is overseeing. The construction is behind schedule and over budget, and Vought is using that as ammo to build a case for “for cause” removal, a legal loophole that could sidestep the normal rules protecting Powell’s position. As part of that effort, Trump recently placed three of his allies, including someone reporting to Vought, on a D.C. planning commission. That commission approved the Fed’s design plans back in 2021. Now they’re circling back, demanding site visits, and threatening audits. Vought, when pressed, hasn’t denied that this could be a setup to boot Powell. But he’s been careful with his words, possibly to avoid drawing early legal challenges. Some advisers believe this construction saga could serve as grounds for firing Powell “for cause,” even though recent Supreme Court rulings have made that move harder to pull off. Meanwhile, the Fed chair succession game has already started. Scott said last week that Trump is likely to get one or two picks early next year. It had seem, at some point, that the Treasury chief wanted the job for himself. But if WSJ’s report is to be believed, it was Scott who saved the global economy. KEY Difference Wire helps crypto brands break through and dominate headlines fast
The ECB is refusing to blink. Even as Donald Trump threatens to slap a 30% tariff on imports and crank up global trade tensions, the European Central Bank decided Thursday it wouldn’t react just yet. They’re locking rates at 2% and postponing any cut in borrowing costs. The move comes right before their seven-week summer break, with policymakers clearly choosing to wait and see if Trump’s threats actually turn into pain before they make a move. The logic is simple: don’t rush. A lot of officials are about to disappear on holiday. They’d rather keep repeating that inflation is on target, park any panic until the next batch of economic projections is available for the September 10–11 meeting, and deal with it then. That means no new action now, but no denial either that things are getting ugly. The euro’s getting stronger, which is hitting exporters and dragging down inflation forecasts. France’s messy budget problems are adding more heat at the worst time. ECB watches data, ignores panic Behind closed doors, the ECB knows the pressure is building. A rate cut in September is clearly back on the table, even if they keep hiding behind the usual “meeting-by-meeting” line. President Christine Lagarde didn’t flinch in her statement Thursday, repeating that “risks to growth are tilted to the downside,” as flagged by Morgan Stanley economists in their preview titled Ready for the Beach . The coming week will pour in the data the ECB needs to weigh that risk. On Tuesday, their own bank lending survey drops. Wednesday follows with a consumer confidence report, and Thursday will deliver purchasing manager indexes from all across the region, conveniently right before policymakers log off. Germany’s Ifo business confidence and Italy’s economic sentiment numbers wrap the week up on Friday. Outside the euro area, more inflation data will fly in from Japan, Brazil, and others, while Bank of England chief Andrew Bailey will testify to UK lawmakers about financial stability.His appearance comes just as the UK drops public finance data on Tuesday and faces PMI figures and retail sales later in the week. Global markets brace as central banks diverge Over in the US, the economic calendar is light.A Wednesday housing report is expected to show barely any change in the sale of existing homes. Numbers have been flatlined near a 4 million annualized rate, just slightly better than the 2010 post-crisis low. Thursday brings a report that might show a modest bounce in new home sales, after a brutal drop in June.But the truth is the US housing market is still locked in place.High mortgage rates and unaffordable prices are keeping buyers out. Meanwhile, Canada’s economic mood gets measured through business and consumer surveys this week. They’ll give insight into inflation fears and investment trends. Retail sales data for May and June could also confirm that shoppers are retreating, especially after tariffs spiked car purchases earlier in the year. In Asia, everyone’s scrambling to make sense of global trade chaos. South Korea opens the week with export data, followed by confidence and retail numbers. China will keep loan prime rates steady for the second straight month. Over in Africa, South Africa will show June inflation is likely up to 3.1% from 2.8%, thanks to meat prices. In Nigeria, the central bank will likely keep rates frozen at 27.5%, for the third straight time, with inflation still hot at 22.2%. In Latin America, Argentina releases its May GDP-proxy Monday. April saw a 1.9% monthly jump and 7.7% year-over-year, helped by President Javier Milei’s move to loosen currency controls tied to a $20 billion IMF deal. Analysts now expect Argentina’s second-quarter GDP to grow 8%, and third quarter by 4.2%, according to Bloomberg. Mexico is under pressure too. The Tuesday GDP-proxy print will follow April’s surprise strength, and inflation eased in June, finally, and the central bank has hinted it may now slow its easing plans. Brazil will close the week with its mid-month inflation report, likely down for a third straight time, driven by sky-high borrowing costs. But expectations for 2025 inflation are still above target. Cryptopolitan Academy: Coming Soon - A New Way to Earn Passive Income with DeFi in 2025. Learn More
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Bitcoin rockets past key price points as Robert Kiyosaki reveals bold buy-in and strategic stop-buying plan, signaling massive upside potential while eyeing the next major pullback. Robert Kiyosaki Shares His Bitcoin Buy Trigger—And His Stop Point Rich Dad Poor Dad author Robert Kiyosaki has once again weighed in on bitcoin, revealing the price point at
Junk debt buyers in the U.S. are ignoring warnings from some of the biggest names on Wall Street and pouring money into the riskiest bonds on the market. CCC-rated bonds, the absolute bottom tier of speculative-grade credit, have returned 0.75% this month through Thursday, outperforming every other class, including investment-grade bonds, according to data from Bloomberg. At the same time, BB-rated bonds, which sit at the top of the junk heap, have delivered the worst performance of any speculative debt tier. That’s a major reversal from earlier in the year when fears over President Donald Trump’s trade policies made BBs the safer bet among junk names. But those concerns have faded fast. Stocks keep setting new highs, and investors clearly feel more comfortable stepping down the ladder to chase bigger yield. BB bonds lose ground as traders look elsewhere Robert Tipp, who serves as chief investment strategist at PGIM Fixed Income, said it directly: “As investors have become more comfortable, they’ve begun to reach for risk.” That comfort is showing up in a big way as market players drop BBs and scoop up CCCs without flinching. But Jamie Dimon, the CEO of JPMorgan Chase, isn’t buying the hype. This week, he said credit spreads are “a little unnaturally low.” That comment came just one month after he said that if he were managing a fund, he wouldn’t be buying any credit at all. Over at DoubleLine Capital, Jeff Gundlach, the CEO, said last month that his firm has “its lowest ever allocation” to high-yield bonds. The reason? He doesn’t believe the valuations reflect the actual risk. There’s also a change happening in the other direction. More cautious buyers are pulling out of junk entirely and sliding up the scale to buy BBB investment-grade bonds. The yield gap between BB and BBB bonds has narrowed to just 75 basis points, way below the ten-year average of 120. That means investors don’t need to hang around BB territory to get a decent spread. There’s also a technical risk hitting BBs from another angle, the so-called “fallen angels.” These are companies that used to have investment-grade ratings but got bumped down into junk status. Warner Bros. Discovery is one recent case. Its planned split into two separate businesses triggered a downgrade and dumped billions of fresh debt into the BB market. Kelly Burton, managing director at Barings, said, “When big names come our way we need to determine how well these names can be digested and whether it will cause a technical dislocation.” New moves from banks and stressed companies shake the credit scene While junk buyers chase yield, U.S. banks are making strategic funding decisions after earnings season. JPMorgan Chase chose to go directly to the domestic investment-grade bonds market. But Wells Fargo and Citigroup took a different route. They went after European investors first, holding off on their U.S. bond sale. In China, real estate giant China Vanke is now trying to extend its domestic bank loans by up to ten years. That move is supposed to reduce pressure on its cash position, which has been under strain for months. Meanwhile in the U.S., CEC Entertainment, the company behind Chuck E. Cheese, is in talks with its equity investors for $600 million. The goal is to handle upcoming debt obligations after its attempt to raise funds through the junk bonds market failed. In Canada, Alimentation Couche-Tard just walked away from a ¥6.77 trillion ($45.8 billion) takeover bid for Seven & i Holdings. After nearly a year of pursuit, the Japanese company that runs 7-Eleven stores apparently refused to engage in serious talks, forcing Couche-Tard to step back. Back in Texas, LifeScan Global Corp., which makes glucose monitors and is backed by Platinum Equity, filed for bankruptcy protection. The company reached an agreement to hand over control to creditors in exchange for debt relief. Lastly, fiber-network provider Zayo Group Holdings is close to finalizing a deal with its creditors to extend the due dates on part of its multibillion-dollar debt pile. The agreement is still tentative, but it could give Zayo some breathing room in a tightening credit environment. Your crypto news deserves attention - KEY Difference Wire puts you on 250+ top sites