Sam Bankman-Fried’s parents are petitioning President Trump for a pardon. Trump recently pardoned Silk Road founder Ross Ulbricht, but Bankman-Fried may be a more difficult case.

SBF contributed millions to defeat Trump’s Presidential campaign in 2020 and was sentenced to prison less than a year ago. For these and other reasons, a pardon seems much less likely.

Could SBF Get a Pardon?

Sam Bankman-Fried (SBF), one of the most infamous criminals in crypto history, may receive a pardon from President Trump. According to a Bloomberg report, his parents, Joseph Bankman and Barbara Fried, are spearheading the effort.

Both parents are law professors, and they’ve been consulting with figures in Trump’s orbit.

Since Donald Trump re-took office, he’s been fulfilling obligations to the crypto community. He pardoned Ross Ulbricht on his second day in office, making good on a campaign promise.

Ulbricht’s mother was a key figure in petitioning for this pardon, and SBF’s parents want to use the same strategy. Indeed, due to Trump’s early string of pardons, he’s facing many requests.

“I have been hearing from people in prison, from people recently sentenced who haven’t reported to the Bureau of Prisons yet, from people who have been indicted. They are looking for somebody who knows somebody,” claimed Jeffrey Grant, who runs a legal and advisory firm in New York for white-collar defendants. He has received around 100 pardon requests.

Rumors about an SBF pardon have circulated a few times since Trump won the Presidential election, but nothing has materialized yet. Indeed, it might be much more difficult than Ulbricht’s pardon.

For example, the new US Attorney in the SDNY pledged that his office would stop a crypto crackdown, but only after defeating Bankman-Fried’s appeal.

In other words, even when the legal system wants to ease up on crypto criminals, the Bankman-Fried case is still very recent. He was sentenced less than a year ago, whereas Ulbricht spent more than a decade behind bars.

If Trump gives SBF a pardon this soon, it might directly encourage these large-scale financial crimes.

“In my opinion, SBF will be pardoned and released. There are more truths to be revealed. Nothing is what it seems and definitely not what you were told. Watch this space. The real criminals will be exposed,” wrote Martin Folb.

Additionally, before his arrest, Ulbricht was a libertarian with no strong affiliation to either political party. Bankman-Fried, on the other hand, was a major Democratic donor who directly contributed millions to defeat Donald Trump in 2020.

If SBF wishes for Trump to pardon him now, his contributions to the Republicans might not be enough to clear the bad blood. In other words, it doesn’t seem particularly likely that SBF will receive a pardon anytime soon. 

Reports suggest that his parents consulted a lawyer who helped several clients receive clemency in Trump’s first term. They were told that “Trump is busy doing other things” and should contact him again in a month.

Bitcoin price started a fresh upward move above $103,200. BTC is now correcting gains and might revisit the $102,000 support zone.

• Bitcoin started a decent upward move above the $103,200 zone.
• The price is trading above $103,000 and the 100 hourly Simple moving average.
• There is a key bullish trend line forming with support at $103,500 on the hourly chart of the BTC/USD pair (data feed from Kraken).
• The pair could start another increase if it stays above the $102,000 zone.

Bitcoin Price Recovers Above $102,000

Bitcoin price started a decent increase above the $101,500 resistance zone. BTC was able to surpass the $102,200 and $103,200 resistance levels to move into a positive zone.

It even cleared the $104,500 resistance zone. The pair settled in a positive zone and now faces hurdles near the $106,500 zone. A high was formed at $106,414 and the price is now correcting gains. There was a move below the $105,000 level.

It is now testing the 23.6% Fib retracement level of the upward move from the $97,688 swing low to the $106,414 high. Bitcoin price is now trading above $103,000 and the 100 hourly Simple moving average.

There is also a key bullish trend line forming with support at $103,500 on the hourly chart of the BTC/USD pair. On the upside, immediate resistance is near the $105,500 level. The first key resistance is near the $106,500 level. The next key resistance could be $107,000.

A close above the $107,000 resistance might send the price further higher. In the stated case, the price could rise and test the $108,800 resistance level. Any more gains might send the price toward the $110,000 level.

Another Decline In BTC?

If Bitcoin fails to rise above the $105,000 resistance zone, it could start a fresh decline. Immediate support on the downside is near the $103,500 level. The first major support is near the $102,500 level and the 50% Fib retracement level of the upward move from the $97,688 swing low to the $106,414 high.

The next support is now near the $102,000 zone. Any more losses might send the price toward the $100,500 support in the near term.

Technical indicators:

Hourly MACD – The MACD is now losing pace in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level.

Major Support Levels – $103,500, followed by $102,500.

Major Resistance Levels – $105,500 and $106,500.

SPX6900 (SPX) price has surged nearly 30% in the last 24 hours, pushing its market cap close to $1.3 billion and solidifying its position as one of the biggest meme coins. This rapid increase has also driven SPX’s RSI to its highest level since January 19, signaling strong buying pressure but approaching overbought territory.

Meanwhile, Smart Money activity shows a net inflow of $35,096, suggesting growing interest from influential traders. Whether SPX continues its uptrend toward $1.8 or faces a correction depends on key resistance and support levels in the coming days.

SPX RSI Rises Without Crossing Overbought Threshold

SPX6900 RSI surged from 43.5 to 66 in just one day following its recent 30% price increase. That surge also placed SPX in the 6th place among the biggest meme coins in the market. The RSI (Relative Strength Index) is a momentum indicator that measures the speed and magnitude of price movements on a scale of 0 to 100.

Readings below 30 indicate an asset is oversold, while levels above 70 suggest it is overbought. A rising RSI reflects increasing bullish momentum, while a declining RSI signals weakening strength or potential price corrections.

SPX6900 RSI is now at 66, its highest level since January 19, signaling strong buying pressure. While it has not yet reached the overbought threshold of 70, it is approaching a level where traders may start watching for potential exhaustion.

If RSI continues rising past 70, SPX price could see further upside but may also become vulnerable to a pullback. However, if RSI stabilizes near this level, it could indicate sustained bullish momentum, allowing the uptrend to continue.

Smart Money Records $35,000 Net Flow in SPX

In the last 24 hours, two Smart Money addresses accumulated SPX, with one purchasing $3,104 and the other buying $52,287. Meanwhile, another Smart Money address sold $20,295 worth of SPX.

Tracking these wallets is crucial because Smart Money refers to institutional or high-net-worth traders with a history of making profitable moves. Their buying or selling activity can provide insights into market sentiment and potential price direction, as they often act ahead of broader retail traders.

The recent Smart Money inflows suggest growing interest in SPX, as the total buying volume exceeded selling volume. While one wallet offloaded SPX, the larger accumulation signals confidence from key players.

If this trend continues, it could indicate increasing demand, supporting SPX price appreciation. However, if selling pressure rises among Smart Money wallets, it could suggest a shift in sentiment, potentially leading to a reversal.

SPX Price Prediction: Will It Test $1.5 Soon?

SPX price chart indicates that its EMA lines are on the verge of forming a golden cross, a bullish signal that could strengthen upward momentum. If this crossover happens, SPX could test resistance at $1.55, and a breakout above this level could push the price toward $1.8.

A golden cross typically suggests a shift in trend, reinforcing buyer confidence and attracting more interest. The next few sessions will be crucial in determining whether SPX price can sustain its recent gains and continue its upward trajectory.

However, if the current hype fades and buying pressure weakens, SPX price could reverse its trend and test support at $1.23.

A break below this level could accelerate selling, potentially dragging the price down to $0.96. If this scenario unfolds, SPX risks losing its spot among top meme coins to FARTCOIN, FLOKI, and WIF.