Key takeaways

• Bitcoin could surge towards the $85k level after sweeping the $78k liquidity zone.
• Bitcoin Pepe’s presale has surpassed $4.5 million, with stage seven almost over.

BTC eyes the $85k region

The cryptocurrency market has been bearish over the past few days, with Bitcoin struggling around the $80k region. The world’s leading cryptocurrency by market cap, dropped to the $79k zone on Thursday, effectively grabbing liquidity and could surge to the $85k level in the coming hours or days.

At press time, the price of Bitcoin stands at $81,909 and could rally higher if the bulls take control of the market. 

What is Bitcoin Pepe?

The bearish market condition hasn’t affected Bitcoin Pepe as its presale is now approaching a new milestone. This exciting project began its presale a month ago and has raised over $4.5 million from investors. 

Bitcoin Pepe wants to revolutionise the Bitcoin ecosystem by leveraging the liquidity and security of the Bitcoin blockchain. It will use Bitcoin’s position in the market to introduce memecoins to its ecosystem. 

The team is currently building a layer-2 network on the Bitcoin blockchain. This L2 will specialise in memecoin trading and other DeFi activities. It will enable Bitcoin Pepe to become home to memecoin activities within the Bitcoin ecosystem. This will help it unlock decentralized finance (DeFi) and meme trading on top of BTC.

Bitcoin Pepe is also the first meme initial coin offering (ICO) on the Bitcoin blockchain, making it the perfect fusion between BTC’s security and the unstoppable force of memecoins. 

Bitcoin Pepe presale surpasses $4.5m

The Bitcoin Pepe presale is selling out fast, with investors putting in $4,686,963 into the project over the past four weeks. Currently in its seventh stage, the presale will enter the next stage after raising $5.67 million.

$BPEP, Bitcoin Pepe’s native token, is available to investors via the Bitcoin Pepe website. It can be purchased using various cryptocurrencies, including ETH, USDT, USDC, BNB, and SOL. In this sixth presale stage, $BPEP is worth $0.0281 and will increase to $0.0295 in the eighth stage. 

How will Bitcoin Pepe impact the Bitcoin blockchain?

Bitcoin Pepe is launching an L2 that could revolutionise how users interact with the Bitcoin blockchain. This L2 will introduce DeFi and memecoin trading on Bitcoin, which could enhance the network’s utility, enabling it to compete with smart contract blockchains like Ethereum and Solana in terms of utility. 

Furthermore, the network will enable developers to launch memecoins on the Bitcoin blockchain with ease. Memecoins will empower the Bitcoin blockchain to become home to a crazy high-octane meme experience. 

The Bitcoin Pepe project is working to unlock Bitcoin’s $2 trillion dormant market cap, making it available for memecoin trading. The network will provide the necessary infrastructure for all memes to migrate to BTC, ensuring security and liquidity for investors and users. 

Should you buy the $BPEP token today?

The $BPEP token will exclusively power activities within the Bitcoin Pepe ecosystem. With the right level of adoption, $BPEP could be a top performer within the broader cryptocurrency market. 

The presale will enter the eighth stage in the coming hours or days, with the $BPEP token set to increase to $0.0295. Thanks to the promising utility of its L2 network, this presale could be the perfect opportunity for investors to get in early and buy the tokens at a discount.

According to recent rumors, the SEC is considering reclassifying the XRP token as a commodity. The Commission is apparently comparing XRP to ETH, which was reclassified in the past.

Today, Vermont regulators cited the SEC’s new Crypto Task Force as a reason to drop its suit against Coinbase. In 2022, the state financial regulators argued that staking services violated securities laws, but it no longer holds this position. That swap could help establish a precedent for Ripple.

Ripple and the SEC Continue Deliberating

The SEC v Ripple case is a very hot issue in the crypto community, and for good reason. Under Gary Gensler, the Commission claimed that XRP was an unlicensed security and tried to block all sales.

Yesterday, rumors claimed that the case might be resolved soon and that Ripple is trying to negotiate far-reaching changes. A possible new angle has emerged:

“One issue that is being weighed by the Commission is whether XRP continues to trade and have a utility that makes it more a commodity, not a security. The Ethereum example is key; ETH was obviously issued as an ICO…no different from XRP, yet Ripple got sued and Ethereum didn’t because ETH had since morphed into a commodity,” claimed Charles Gasparino.

Such a proposal would be a significant change to US crypto regulations, but it’s plausible for several reasons. First of all, Commissioner Hester Peirce claimed that the SEC may stop considering some assets as securities, and it has already reclassified meme coins.

The Commission is also planning new collaborations with the CFTC, the US’ highest commodities regulator.

Already, the new post-Gensler SEC has laid some crucial groundwork for an XRP reclassification. If Ripple and the SEC can agree, XRP would be bound by much less severe regulations, which would almost certainly have a bullish impact on its market value.

XRP Has a Lot in Common with Ethereum

If the SEC drops its lawsuit against XRP, the altcoin can be evaluated primarily based on its decentralized functionality and utility within respective networks rather than as investment contracts—just like Ethereum was evaluated.

This shift would emphasize the role XRP plays in facilitating real-time transactions on its network, aligning its characteristics more with commodities.

Technically this would be easy to assess, as Ripple always provides payment infrastructure for several global banks and payment services.

Additionally, the SEC could point to other legal efforts to establish a precedent for the Ripple case. In 2022, Vermont and several other US states sued Coinbase, claiming that its staking services violated securities laws. Today, Coinbase’s Chief Legal Officer announced that Vermont dropped its charges, citing the SEC’s new paradigm:

“The SEC has announced the formation of a new task force to, among other things, provide guidance for the promulgation of rules regarding the regulation of cryptocurrency products and services. In light of the… likelihood of new federal regulatory guidance, the Division [will] rescind the pending Show Cause Order, without prejudice,” Vermont’s dismissal read.

In other words, one state already claimed that the Commission’s new guidelines have voided its old argument. If the SEC decides that it was previously too harsh to Ripple, it would be within its rights to reclassify XRP.

Ultimately, if XRP is classified as a commodity after April 16, it would immediately increase or even confirm the likelihood of XRP ETF approvals. Overall, such a scenario would be extremely bullish for the third-largest altcoin.

After hitting a peak of $2.99 on February 27, Pi Network is down nearly 40% in the past two weeks. Technical indicators suggest that PI momentum is stabilizing.

The DMI shows that buying pressure has surged in the past two days, but the ADX has declined, signaling that the strength of the trend may be weakening. Meanwhile, RSI has spiked from oversold levels, approaching overbought territory, which could either lead to consolidation or a continuation toward key resistance levels.

PI Network DMI Shows Uptrend Is Still Here

PI’s DMI chart indicates that the Average Directional Index (ADX) has declined to 30.6 from 36.5 over the past two days. ADX measures trend strength, with values above 25 generally indicating a strong trend, while values below 20 suggest a weak or consolidating market.

A rising ADX signals strengthening momentum, whereas a declining ADX suggests a weakening trend, even if price action continues in the same direction.

The current drop in ADX suggests that while PI remains in an uptrend, the momentum behind this movement is softening.

Looking at the Directional Indicators (+DI and -DI), +DI has surged to 27.3 from 12.3 two days ago but has remained stable since yesterday, while -DI has sharply dropped to 14.9 from 29.3. This shift indicates that buying pressure has significantly increased over the past two days, overwhelming prior selling pressure.

However, with +DI now stable and ADX declining, the strong buying momentum seen earlier may be fading. This doesn’t necessarily mean an immediate reversal, but it suggests the uptrend could slow or enter a consolidation phase unless renewed buying strength pushes the ADX back up.

Pi Network RSI Surged In The Last Two Days

PI’s Relative Strength Index (RSI) has climbed sharply to 60.90, up from 34.8 yesterday and 19.5 four days ago. RSI is a momentum oscillator that measures the speed and magnitude of price movements on a scale from 0 to 100.

Generally, RSI values above 70 indicate overbought conditions, suggesting potential for a pullback, while values below 30 signal oversold conditions, often preceding a price recovery.

The rapid rise from deeply oversold levels to near 61 suggests a strong shift in momentum, with buyers regaining control.

With PI’s RSI touching 68 earlier and now sitting at 60.90, it is approaching overbought territory but has not yet crossed the critical 70 threshold.

The fact that PI hasn’t surpassed 70 since February 27 suggests that this level has historically acted as a barrier, potentially triggering profit-taking or a temporary slowdown.

If RSI stabilizes near its current level, PI could consolidate before making another push higher. However, if it surges past 70, it would signal extreme bullish momentum, though that also increases the likelihood of a short-term correction.

PI Can Reclaim $2.35 Levels Soon

PI price is currently trading within a key range, facing resistance at $1.82 while holding support at $1.57. If the current uptrend persists and buyers manage to push past $1.82, the next target would be $1.98.

A break above this level could open the door for a stronger rally, especially if PI regains the positive momentum seen last month. In that scenario, the price could extend its climb toward $2.35, reinforcing a more bullish outlook.

However, clearing these levels would require sustained buying pressure and a breakout confirmation above $1.82.

On the downside, if PI’s trend reverses, it could retest its immediate support at $1.57.

Losing this level would weaken the bullish structure and expose the price to further declines, potentially testing $1.35. If selling pressure intensifies, PI could drop even further to $1.23, marking a deeper correction.

The strength of the support at $1.57 will be crucial in determining whether the current uptrend holds or if PI enters a more extended pullback phase.