Connect with us

Coin Market

Price predictions 5/5: SPX, DXY, BTC, ETH, XRP, BNB, SOL, DOGE, ADA, SUI

Published

1 week ago

on

Key points:

Bitcoin is witnessing a tough battle between the bulls and the bears at the $95,000 level.

Solid buying by spot Bitcoin ETF investors last week signals a positive shift in investor sentiment. 

Select altcoins have held their support levels, increasing the likelihood of a short-term up move.

Bitcoin (BTC) slipped below the breakout level of $95,000 on May 4, indicating profit booking at higher levels. The bulls tried to push the price back above $95,000 on May 5 but are facing stiff resistance from the bears. 

Glassnode senior researcher CryptoVizArt said in a post on X that Bitcoin maintaining above $93,000 was very surprising and also risky as the rally to the $93,000 to $96,000 range “pushed the profit-taking volume above the statistical levels.” CryptoVizArt added that there were more than $9 in realized profits for every dollar realized in loss.

Crypto market data daily view. Source: Coin360

However, a positive sign in favor of bulls is that the US-based Bitcoin exchange-traded funds witnessed inflows of $1.8 billion last week, per Farside Investors data. The ETF issuers and the institutions acquired 18,644 Bitcoin last week compared to the 3,150 Bitcoin mined during the period, reported asset allocator HODL15Capital on May 4.

What are the crucial support and resistance levels to watch out for in Bitcoin and altcoins? Let’s analyze the charts of the top 10 cryptocurrencies to find out.

S&P 500 Index price prediction

The S&P 500 Index (SPX) extended its recovery last week and rose above the 50-day simple moving average (5,575).

SPX daily chart. Source: Cointelegraph/TradingView

The 20-day exponential moving average (5,501) has started to turn up, and the relative strength index (RSI) is in the positive territory, indicating advantage to buyers. The up move could reach 5,800, which is expected to attract strong selling by the bears. If the price turns down from 5,800, it is likely to find support at the 20-day EMA. 

Sellers will have to yank the price below the 20-day EMA to suggest that the bullish momentum is weakening. The index may drop to 5,400 and subsequently to 5,300.

US Dollar Index price prediction

The US Dollar Index (DXY) bounced off the 99 support on April 29 and reached the 20-day EMA (100.38) on May 1.

DXY daily chart. Source: Cointelegraph/TradingView

Buyers are facing stiff resistance at the 20-day EMA, but a minor positive is that they have not ceded much ground to the bears. That improves the prospects of a break above the 20-day EMA. If that happens, the index could rise to the 61.8% Fibonacci retracement level of 101.39 and then to the 50-day SMA (102.72).

This positive view will be invalidated if the price continues lower and breaks below the 99 level. That could sink the index to the critical support at 97.92.

Bitcoin price prediction

Bitcoin closed below the $95,000 support on May 4, and the bears are trying to extend the pullback to the 20-day EMA ($92,204).

BTC/USDT daily chart. Source: Cointelegraph/TradingView

Buyers will have to fiercely defend the 20-day EMA to keep the bullish momentum intact. If the price bounces off the 20-day EMA with strength, the bulls will again try to propel the BTC/USDT pair to the psychological level of $100,000. 

Contrary to this assumption, a break and close below the 20-day EMA signals the bulls are rushing to the exit. That may sink the pair to the 50-day SMA ($86,890). A deeper pullback suggests a range formation in the near term.

Ether price prediction

Buyers have managed to sustain Ether (ETH) above the moving averages, signaling strength.

ETH/USDT daily chart. Source: Cointelegraph/TradingView

The 20-day EMA ($1,771) is sloping up gradually, and the RSI is in the positive territory, indicating that the path of least resistance is to the upside. There is minor resistance at $1,957, but it is likely to be crossed. The ETH/USDT pair could surge to the breakdown level of $2,111, where the bears are expected to sell aggressively.

A break and close below the moving averages opens the gates for a fall to $1,537 and later to the critical support at $1,368.

XRP price prediction

XRP (XRP) remains stuck between the resistance line and the $2 support, indicating buying on dips and selling on rallies.

XRP/USDT daily chart. Source: Cointelegraph/TradingView

Both moving averages have flattened out, and the RSI is just below the midpoint, indicating a balance between supply and demand. This equilibrium will tilt in favor of the bulls if they drive the price above the resistance line. The XRP/USDT pair could soar to $3, suggesting a short-term trend change.

On the contrary, a break and close below $2 will put the sellers in charge. The pair may then retest the vital support at $1.61, where the buyers are expected to step in.

BNB price prediction

BNB (BNB) slipped below the moving averages on May 4, but the bears are struggling to sustain the lower levels.

BNB/USDT daily chart. Source: Cointelegraph/TradingView

If buyers push the price above the moving averages, it suggests buying at lower levels. The bulls will then attempt to overcome the barrier at $620. If they succeed, the BNB/USDT pair could shoot up to $644.

Alternatively, if the price turns down from the moving averages, it suggests that the bears are trying to take control. There is support in the $576 to $566 zone, but if it breaks down, the pair could dive to $520.

Solana price prediction

Solana (SOL) is finding support at the 20-day EMA ($143), indicating that the bulls remain buyers on dips.

SOL/USDT daily chart. Source: Cointelegraph/TradingView

The bulls will again attempt to thrust the price above the $153 resistance. If they manage to do that, the SOL/USDT pair could ascend to $180. Such a move brings the large $110 to $260 range into play.

If bears want to prevent the upside, they will have to swiftly pull the price below the 20-day EMA. If they do that, the pair could descend to the 50-day SMA ($133). That suggests the pair may consolidate between $110 and $153 for a while.

Related: XRP price risks 45% decline to $1.20 — Here is why

Dogecoin price prediction

Buyers have managed to keep Dogecoin (DOGE) above the moving averages but failed to start a strong rebound.

DOGE/USDT daily chart. Source: Cointelegraph/TradingView

The flattish moving averages and the RSI near the midpoint suggest the DOGE/USDT pair may extend its stay inside the $0.21 to $0.14 range for some time.

If the price turns up from the moving averages, the bulls will try to push the pair to $0.21. Sellers are expected to defend the level aggressively, but if the bulls prevail, the pair could skyrocket to $0.28. Contrarily, a break below the moving averages could sink the pair to the solid support at $0.14.

Cardano price prediction

Cardano (ADA) is witnessing a tough battle between the bulls and the bears near the moving averages.

ADA/USDT daily chart. Source: Cointelegraph/TradingView

The flattish moving averages and the RSI just below the midpoint do not give a clear advantage either to the bulls or the bears. The first sign of strength will be a break and close above $0.75. That opens the doors for a rally to $0.83.

On the downside, a close below the moving averages tilts the advantage in favor of the bears. There is solid support at $0.58, but if the level gives way, the ADA/USDT pair could plunge to $0.50.

Sui price prediction

Sui (SUI) is attempting to bounce off the 20-day EMA ($3.09), indicating demand at lower levels.

SUI/USDT daily chart. Source: Cointelegraph/TradingView

The bulls will try to push the price to $3.90, which is expected to act as a stiff resistance. However, the upsloping 20-day EMA and the RSI in the positive territory suggest that buyers have an edge. A break and close above $3.90 could catapult the SUI/USDT pair to $4.25 and later to $5.

Instead, if the price turns down from the current level or the overhead resistance and breaks below the 20-day EMA, it signals that the bulls have given up. That may pull the price to $2.86 and then to the 50-day SMA ($2.57).

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.

Related Topics:
Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Coin Market

Kima joins Mastercard sandbox to enable stablecoin card top-ups

Published

22 minutes ago

on

May 14, 2025

By

Decentralized settlement protocol Kima has integrated into Mastercard’s sandbox program, enabling stablecoin-powered top-ups for prepaid cards directly from self-custody wallets.

According to an announcement shared with Cointelegraph, Mastercard partners can now rely on Kima’s settlement infrastructure to enable their prepaid cards to be topped up with stablecoins, including USDC (USDC) and Tether’s USDt (USDT), from self-custody wallets across more than 10 blockchains.

Kima CEO Eitan Katz said the integration shows that stablecoins can be practical for everyday use, removing friction and intermediaries from crypto-to-fiat conversions while expanding crypto usability.

“Our goal at Kima is to eliminate barriers between digital assets and traditional finance,” Katz said.

Related: Mastercard tokenized 30% of its transactions in 2024

Infrastructure designed for interoperability

Katz described Kima’s settlement system as asset-agnostic and designed to simplify cross-ecosystem payments, supporting public blockchains, private ledgers and traditional banking rails:

“Kima’s asset-agnostic settlement layer is designed to abstract the complexity of transferring value across disparate ecosystems, whether that’s public blockchains, private ledgers, or even traditional banking systems.”

According to the announcement, Kima’s infrastructure is aligned with Mastercard’s aim to bring stablecoins into mainstream financial usage. Katz rejects the Bitcoin and crypto hardliner vision of digital assets being contraposed to fiat currency, claiming that “crypto and fiat must coexist seamlessly to reach their full potential.”

Katz explained that Kima’s solution allows easy crosschain interoperability and eliminates reliance on intermediaries, custodians or complex smart contracts. This, in turn, reportedly enhances security and efficiency for all parties involved.

Related: Mastercard links with Circle, Paxos for merchant stablecoin payments

ECB includes Kima in digital euro initiative

Earlier in May, the European Central Bank (ECB) included Kima in a list of 70 private sector partners tasked with helping in digital euro innovation. The firms on the list have signed up to work with the ECB to explore digital euro payment functionalities and use cases.

“The breadth and creativity of the proposals highlights the digital euro’s potential as a catalyst for financial innovation in Europe,” ECB executive board member Piero Cipollone said at the time.

Source: Kima

Despite Kima’s institutional partnerships, Katz told Cointelegraph that “compliance shouldn’t mean giving up control of your funds or your data.” He said that know-your-client and Anti-Money Laundering checks are handled by third-party banks and virtual asset service providers at onboarding, and Kima never has access to the data.

Katz added that “once a user is cleared, every transaction carries immutable metadata tags that our protocol-level engine checks against local rules.” This, he said, covers compliance “from the European Union’s Markets in Crypto-Assets Regulation to Singapore’s regulatory guidelines — before settlement.”

Katz said that “keys are kept entirely under the users’ control,” while cryptographic proofs still allow for compliance.

“Institutions get a plug-and-play control layer and users enjoy true self-custody,” Katz added.

Magazine: Crypto wanted to overthrow banks, now it’s becoming them in stablecoin fight

Continue Reading

Coin Market

The Q-Day Prize challenge, explained: Can quantum computers really break Bitcoin?

Published

22 minutes ago

on

May 14, 2025

By

What is the Q-Day prize?

The Q-Day Prize is a challenge to make the Bitcoin network quantum resistant.

On April 16, 2025, quantum computing-focused company Project 11 announced the “Q-Day Prize,” a competition to break a “toy version” of Bitcoin’s cryptography with a quantum computer. Contestants must complete the Q-Day Prize challenge by April 5, 2026.

Their reward? 1 Bitcoin (BTC).

The “Q” in Q-Day refers to quantum computing, the potential threat to many existing cryptographic security measures. 

But can quantum computers break Bitcoin? Let’s find out.

Quantum computing and the threat to Bitcoin

Bitcoin utilizes the SHA-256 hashing algorithm, a National Security Agency (NSA)-developed encryption algorithm. SHA-256 prevents brute force attacks against the Bitcoin network, as decrypting it with current hardware can take decades. However, the emerging threat to SHA-256 is quantum computing, a method of computing that harnesses quantum physics and is much faster than traditional computing.

At a fundamental level, quantum computing utilizes quantum bits (qubits), which can exist in multiple states. This contradicts binary (traditional) computing, which uses binary bits (1s and 0s). In 1994, mathematician Peter Shor presented an algorithm for quantum computers to solve complex algorithms in seconds, rather than the decades it can take for conventional hardware. At the time, no hardware could effectively run it, but recent advances like Google Willow are nearing that capability.

Quantum computing, when paired with Shor’s algorithm, can disrupt Bitcoin cryptographic systems as we know them. Shor’s algorithm allows quantum computers to solve complex math super fast, potentially threatening Bitcoin’s safety.

Did you know? If quantum tech gets strong enough, Bitcoin’s current security could become obsolete, so developers are racing to create “quantum-proof” shields using new math that even Shor’s algorithm can’t break.

Quantum threat to Bitcoin: How real is the danger?

Bitcoin is vulnerable to quantum computing, but how serious is the risk?

When you create a crypto wallet, it generates two important things: a private key and a public key. The private key is a secret code, like a password, that you must keep safe. The public key is created from your private key, and your wallet address (like a bank account number) is made from the public key.

You share your wallet address with others so they can send you cryptocurrency, just like you share your email address for someone to contact you. However, you never share your private key. It’s like the password to your email — only you need it to access and spend the money in your wallet.

Your private key is like a master password that controls your crypto wallet. From this private key, your wallet can create many public keys, and each public key generates a wallet address. 

For example, if you use a hardware wallet, it has one private key but can create unlimited public keys (wallet addresses). This means you can have different addresses for each cryptocurrency supported by the wallet or even multiple addresses for the same cryptocurrency, all managed by a single private key.

While generating a public key from a private key is straightforward, figuring out a private key from a public key is extremely hard — almost impossible — which keeps your wallet secure. Every time you send cryptocurrency, your private key creates a special code called a signature. This signature proves you own the funds and want to send them. The system that uses your private key, public key and signature to secure transactions is called the Elliptic Curve Digital Signature Algorithm (ECDSA).

It is believed that quantum computing could reverse the process and generate private keys out of public ones. It is feared that this could cause many Bitcoin holders (especially whales and Satoshi-era wallets) to lose their funds. 

Bitcoin address types and quantum risks

When you send Bitcoin, you use a specific address type to direct the payment. Each address type has unique features, affecting security, privacy and vulnerability to quantum computing attacks like Shor’s algorithm.

P2PK address types

When you pay someone with Bitcoin, the transaction is typically considered a “pay-to-public-key” (P2PK). This was the most common payment method in 2009, according to a report from consulting firm Deloitte. 

Much of the original Bitcoin released at the network’s launch is held in wallets with the P2PK address type, primarily due to the fact that they’ve sent transactions since Bitcoin’s 2009 launch. These addresses are long (up to 130 characters), making them less user-friendly.

Wallets with the P2PK address type are most susceptible to Shor’s algorithm, as it can brute force the private key from a P2PK wallet address. 

P2PKH address types

There’s a second address type that’s more resistant to Shor’s algorithm: the pay-to-public-key-hash (P2PKH). P2PKH addresses are shorter and are generated from the hash (a unique, hexadecimal value) of a public key created using SHA-256 and RIPEMD-160 algorithms instead of displaying the full key itself.

These addresses are shorter (33-34 characters), start with “1,” and are encoded in Base58 format. Such addresses are widely used and include a checksum to prevent typos, making them more reliable.

P2PKH addresses are more resistant to Shor’s algorithm than P2PK because the public key is hashed. The public key is only revealed when you spend from the address (not when receiving). If a P2PKH address never sends Bitcoin, its public key stays hidden, offering better protection against quantum attacks. 

However, reusing a P2PKH address (sending from it multiple times) exposes the public key, increasing vulnerability. Also, when you spend from a P2PKH address, the public key becomes visible on the blockchain, making transactions trackable.

Taproot addresses

Taproot is the newest address type, introduced in November 2021 via the Taproot soft fork. It uses Schnorr signatures instead of the ECDSA signatures used by P2PK and P2PKH. These addresses start with “bc1p,” use Bech32m encoding, and are 62 characters long.

They offer better privacy. Multisignature (multisig) transactions look like single-signature ones, hiding complex spending conditions. However, Taproot addresses expose the public key (or a tweaked version), making them vulnerable to Shor’s algorithm, similar to P2PK. 

Did you know? Google’s “Willow” computer chip is capable of solving a complex problem in just five minutes. The same task would take a classical supercomputer 10 septillion (!) years.

The race toward quantum-proofing Bitcoin

Quantum resistance is a real challenge, but not an impossible one.

Quantum computers, still in early development, could one day use Shor’s algorithm to break Bitcoin’s cryptography by deriving private keys from public keys. This would threaten Bitcoin and other systems using SHA-256 or ECDSA (the algorithms securing Bitcoin transactions). However, this threat is not imminent, and solutions are already in progress.

While some believe that Project 11 presented the Q-Day Prize to take down Bitcoin, the company claims this initiative is aimed at “quantum-proofing” the network.

In July 2022, the US Department of Commerce’s National Institute of Standards and Technology (NIST) announced four quantum-resistant cryptographic algorithms resulting from a six-year challenge to develop such solutions.

Quantum computing won’t develop in isolation, and centralized systems like government and financial networks could be bigger targets than Bitcoin’s decentralized blockchain. These systems use outdated cryptography, like RSA, vulnerable to Shor’s algorithm, and store sensitive data (e.g., banking records). Their single points of failure make breaches easier than attacking Bitcoin’s distributed nodes. 

The International Monetary Fund warns quantum computers could disrupt mobile banking, while Dr. Michele Mosca from the Institute for Quantum Computing highlights “harvest-now, decrypt-later” risks for centralized data (where attackers store encrypted data today to decrypt with future quantum computers). In 2024, the G7 Cyber Expert Group urged financial institutions to assess quantum risks, noting that centralized systems’ data could be exposed if intercepted now and decrypted later.

Did you know? Many blockchain networks are exploring quantum-resistant algorithms, such as Quantum Resistant Ledger or Algorand. These quantum computing blockchain security methods present a few different approaches.

How to increase your security against quantum threats

While the quantum computing cryptocurrency risk is less of a threat than one might think, it’s still best to stay prepared.

Still, if you’re worried about Bitcoin quantum vulnerability, there are a few precautions you can take to secure your crypto finances.

Avoid reusing public addresses: Most crypto wallets allow you to generate a new public address for every transaction. This practice will make it much harder to track your spending habits.Move funds to a private wallet: If you’ve been using the same public wallet address for some time, consider moving your funds to a new wallet with no history. This will help keep your spending habits private. Use a different blockchain network: Legacy networks like Bitcoin and Ethereum are considered less quantum resistant than newer networks with more modern security algorithms. Consider alternative networks with quantum resistance in mind.Stay informed: Pay attention to the results of the Q-Day Prize challenge, and stay up to date with quantum computing news so you can react accordingly. The best defense is an informed one.

While quantum risk is not immediate, developers and cybersecurity experts are actively working on solutions to ensure long-term security. In the meantime, users should stay updated about Bitcoin protocol updates and best practices, such as avoiding address reuse, as the network gradually moves toward quantum resistance.

Continue Reading

Coin Market

Ex-SEC Chair Gary Gensler privately supported crypto — McHenry

Published

22 minutes ago

on

May 14, 2025

By

Former US Securities and Exchange Commission (SEC) Chair Gary Gensler may not have been as hostile to crypto behind closed doors as he appeared to be in public, according to former US Representative Patrick McHenry.

In a May 13 appearance on the Crypto in America podcast, McHenry revealed that during private meetings with Gensler, the former regulator expressed a far more nuanced view of digital assets.

“Did he come across, or was he as anti-crypto in private as he did in public?” McHenry was asked. His response: “No… Nope.”

McHenry noted that Gensler “saw the value of digital assets” and acknowledged the potential of blockchain technology during his time at the Massachusetts Institute of Technology.

Gerald Gallagher, general counsel at Sei Labs, also noted that Gensler played a role in developing the concept of the airdrop during his academic work, calling it a largely forgotten chapter in his background.

However, once Gensler became SEC chair, McHenry said, his stance shifted dramatically. “I had this weird, mistaken, stupid belief that he wouldn’t be that bad as SEC chair,” McHenry admitted. “And I mean, just the level of dismay.”

Source: Crypto in America

Related: SEC chair suggests ‘huge benefits’ in agency’s third crypto roundtable

Gensler’s crypto stance was “confusing”

McHenry said discussions with Gensler on crypto regulation were often confusing.

McHenry said conversations with Gensler about legal frameworks and content structures often started off as reasonable, but quickly became contradictory. He described how Gensler would initially agree with certain points, only to later reject the same facts he had acknowledged moments earlier.

According to McHenry, Gensler’s public opposition may have been shaped more by “Senate politics and confirmation politics than anything else.”

After departing the SEC on Jan. 20, Gensler returned to the Massachusetts Institute of Technology to teach fintech and AI.

Under Gensler’s tenure, which started in 2021, the SEC took an aggressive regulatory stance toward crypto, bringing upward of 100 regulatory actions against industry companies.

The regulatory hostility caused Gensler and his team much scrutiny and backlash from industry leaders.

In December 2024, Coinbase CEO Brian Armstrong announced that the crypto exchange would sever ties with law firms employing former SEC officials involved in what he said was an effort to “unlawfully kill” the crypto industry.

Source: Brian Armstrong

In January 2025, Gemini said it wouldn’t hire any MIT graduates unless the university dropped Gensler from his teaching role.

Magazine: Metric signals $250K Bitcoin is ‘best case,’ SOL, HYPE tipped for gains: Trade Secrets

Continue Reading

Trending