Bitcoin (BTC) is up nearly 5% over ten days and is currently attempting to reclaim the $90,000 level. The recent uptick in whale activity, combined with strong technical indicators, is fueling optimism about a potential breakout.

Bullish patterns across both Ichimoku Cloud and EMA structures suggest the market may be gearing up for a move higher. As momentum builds, traders are watching closely to see if BTC can push toward the $100,000 mark in the coming weeks.

BTC Whales Reached Its Highest Level Since December 15

The number of Bitcoin whales—wallets holding between 1,000 and 10,000 BTC—increased from 1,980 on March 22 to 1,991 on March 25, marking the highest count since December 15.

Although modest, this rise is significant as it reflects renewed accumulation by large holders after more than three months of subdued activity.

Tracking whale wallets is crucial because these large players often move markets; their accumulation or distribution patterns can serve as early signals of broader sentiment shifts or major price moves.

Whales are typically considered “smart money,” and when their numbers rise, it often suggests increased confidence in the market’s near-term outlook.

Although the growth rate of new whales has slowed in recent days, the fact that their count has reached a multi-month high signals underlying strength.

It could imply that institutional or high-net-worth investors are positioning themselves ahead of a potential bullish move, adding weight to Bitcoin’s current support levels and possibly paving the way for further upside if momentum continues.

Bitcoin Ichimoku Cloud Paints A Good Momentum

Bitcoin’s Ichimoku Cloud chart is showing a bullish structure, with price action clearly above the cloud and the cloud itself turning green and rising ahead.

The Tenkan-sen (blue) is above the Kijun-sen (red), indicating that short-term bullish momentum is still in play. However, the two lines have started to flatten, suggesting a possible pause or consolidation.

The future cloud (Kumo) is wide and sloping upward, which signals solid underlying support and growing trend strength. Additionally, the Chikou Span (lagging line) is positioned well above past price action, further confirming bullish sentiment.

While there may be some sideways movement in the short term, the overall Ichimoku setup continues to favor the bulls unless a breakdown below the cloud shifts the outlook.

Will Bitcoin Rise Back To $100,000 In April?

Bitcoin’s EMA lines are aligning for a potential golden cross, which could signal the start of a fresh bullish phase. If this crossover happens and Bitcoin price manages to break the resistance at $88,807, it could trigger a move toward $92,928.

A strong continuation of the uptrend might then send Bitcoin to test $96,503 and $99,472, with a possible breakout above $100,000 if momentum accelerates.

On the other hand, if Bitcoin fails to break above $88,807 and faces a trend reversal, it could pull back to test the support at $84,736. A break below that level could lead to further downside toward $81,162.

If selling pressure continues, BTC might even revisit $79,970 and $76,644, potentially falling back below the $80,000 mark.

Wyoming is planning to launch its own stablecoin in July, with LayerZero as the issuance partner. The WYST stablecoin will use cash, Treasury bonds, and repurchasing agreements to maintain its peg to the US dollar.

The state is considering nine potential blockchains to host WYST. Recently, Wyoming’s fiscal conservatives balked at using state funds to buy Bitcoin. However, the stablecoin project is completely separate from the state’s Bitcoin reserve plan.

Wyoming To Enter Stablecoin Market

Stablecoins are becoming an increasingly popular topic in US government spaces, especially since President Trump recently claimed they will be an important part of global dollar dominance. Today, a state is seriously looking at a small-scale experiment, as Wyoming is partnering with LayerZero to launch its own stablecoin in July.

“We’re honored to be chosen by Wyoming as the token issuance partner for WYST, the first fiat-backed and fully-reserved stablecoin issued by a public entity in the United States. There’s no clearer signal of where finance is heading than a US state putting the dollar onchain,” LayerZero claimed via social media.

LayerZero is a prominent interoperability protocol, and it will issue Wyoming’s proposed stablecoin. The state is weighing nine potential blockchains, including Solana, Ethereum, and Polygon, to host it.

The state’s governor, Mark Gordon, announced this partnership at the DC Blockchain Summit. Interestingly, this plan does not seem to include Cynthia Lummis, one of the state’s Senators who has strongly advocated for crypto and stablecoin regulations. This will be the first time that a government entity is looking to launch its own stablecoin.

According to reports, Wyoming will include an ironclad reserve requirement for this stablecoin. Wyoming will back WYST stablecoins with cash, US Treasury bonds, and repurchase agreements, with a statutory requirement of 102% capitalization.

Apparently, the plan is to use the interest accrued from these assets to fund things like education and infrastructure.

Previously, Senator Lummis supported a Bitcoin Reserve bill in Wyoming, but it died in Committee despite the state’s strong Republican presence. Wyoming’s fiscal conservatives didn’t want to use tax dollars to buy Bitcoin; will they agree to fund stablecoin reserves?

Hopefully, it won’t come to that. The state of Wyoming has $31 billion in investments including US Treasury bonds, not to mention its own cash resources.

Ideally, some of these assets could be directed to the WYST project, and a small-scale success could lead to bigger commitments. This experiment could provide very intriguing results.

Hyperliquid (HYPE) is facing heavy selling pressure after a major short squeeze of the JELLY meme coin triggered widespread concerns across the platform. A whale manipulation led to nearly $12 million in losses for Hyperliquidity Provider (HLP), forcing the exchange to delist the token.

Following the exchange’s actions, market confidence took a hit, causing HYPE to drop over 14% in the past 24 hours. With its market cap now below $5 billion, will HYPE continue to slump?

JELLY Delisting Crashes Hyperliquid Price

Hyperliquid is under intense scrutiny after a whale holding 124.6 million JELLY began manipulating the token’s price to exploit Hyperliquidity Provider (HLP).

The whale first dumped the tokens, crashing the price and forcing HLP into a massive passive short. Then, by rebuying and driving the price back up, the whale triggered a loss of nearly $12 million for HLP.

This exploit sparked major concerns around the platform’s risk exposure and security mechanisms.

In response, Hyperliquid announced the delisting of JELLYJELLY to prevent what could have become a $230 million loss.

However, the damage to investor confidence was already done, causing HYPE’s price to drop over 10% in the past 24 hours. Its market cap has now fallen below $5 billion as the market reacts to fears of further instability and the potential for similar exploits.

HYPE Indicators Show The Impact Of The News

HYPE’s RSI has dropped to 36.27, down sharply from 71 just two days ago. This decline reflects a rapid shift in momentum following the exploit news that sent the price lower after a brief recovery attempt.

The RSI (Relative Strength Index) measures price momentum on a scale from 0 to 100. Readings above 70 signal overbought conditions, while values below 30 suggest oversold territory. Levels between 30 and 50 indicate bearish pressure.

With RSI now at 36.27, HYPE is approaching oversold levels, suggesting sellers have taken control. While not extreme yet, it signals weakness and could point to further downside if sentiment doesn’t improve.

Meanwhile, HYPE’s BBTrend dropped from 10 to 6.97 after the exploit but has remained in positive territory for six straight days. BBTrend, or Bollinger Band Trend, measures the strength of price trends based on the expansion of Bollinger Bands.

Values above 3 show strong momentum, while those below 1 suggest sideways action. The drop from 10 to under 7 shows trend strength is weakening, but still intact.

If BBTrend continues to fall, it may confirm a slowdown in bullish momentum. Combined with the low RSI, this could keep HYPE under pressure unless a reversal takes shape.

Can Hyperliquid Recover From The Crash?

If the current correction continues, HYPE could soon test the key support at $13.91. This move could be accelerated by the formation of a death cross, which the EMA lines suggest may happen soon.

Losing the $13.91 level would likely add more selling pressure. The next supports are $12.82 and $12.06. A break below those could deepen the downtrend further.

On the flip side, if HYPE can recover from the recent negative sentiment, it may retest the $17.03 resistance. It attempted this level just three days ago but failed to break through.

If $17.03 is broken and momentum builds, HYPE could push higher to $21, and even $25.87. That would mark its first time trading above $24 since February 22.