Bitcoin is trading steadily near $109,000, showing signs of potential downside risk, according to Coingecko data. This comes as investors await Nvidia's earnings report scheduled for today, May 28, 2025, which could significantly impact market sentiment, given the historical correlation between BTC and NVDA. The Federal Reserve's May meeting minutes, also due to be released later today, will provide further insights into monetary policy.
On-chain data suggests that some large investors have begun distributing coins, adding to selling pressure. Glassnode noted on X that the >10K BTC cohort has shifted to net distribution as of May 26, although the overall market remains in accumulation mode. Meanwhile, Trump Media recently announced plans to create a Bitcoin treasury, purchasing $2.5 billion in Bitcoin.
XRP is holding above the 200-day simple moving average (SMA), supported by growing discussions around XRPFi. Strobe Finance highlighted that over 4 million inactive XRPL wallets hold an estimated US$2.15 billion in XRP, presenting a significant opportunity for DeFi on the XRP Ledger. XRP is currently trading in bullish territory, above the Ichimoku cloud and the 200-day SMA, which has acted as a strong support level since early April.
This article is based on our author's analysis of materials taken from the following resources: Coingecko, X, Strobe Finance.