Coin price today 26/05: Bitcoin rebounds slightly from the plunge, Altcoin and US stocks rally as debt ceiling talks progress

Tap Chi BitcoinPublicado a 2023-05-26Actualizado a 2023-05-26

Resumen

Bitcoin slightly recovered to around $26,400 on May 25, following a sharp drop below $26,000.

BTC Price Chart – 1 hour | Source: TradingView

The S&P 500 and Nasdaq Composite Index rallied on Thursday (May 25), as investors cheered Nvidia's latest quarterly results, boosting tech stocks' gains.

Closing the session, the Nasdaq Composite index rose 1.71% to 12,698.1 points, the S&P 500 added 0.88% to 4,151.3 points; while Dow Jones lost 35.3 points (or 0.11%) to 32,764.65 points and closed below the 200-day moving average.

Nvidia shares jumped 24.4%, a day after the company released a stronger-than-expected revenue outlook and reported positive revenue-earnings for the recent quarter. Booming demand for Nvidia chips used in artificial intelligence underpinned the quarterly growth rate.

Some analysts have raised their price targets for Nvidia stock following strong results. The strong rally in Nvidia stock has brought the chipmaker close to a $1 trillion market cap.

Other semiconductor stocks and some artificial intelligence stocks rallied after Nvidia's rally. Advanced Micro Devices and Taiwan Semiconductor shares jumped 11.1% and 12%, respectively. The VanEck Semiconductor ETF added 8.6% to a 2023 high, hitting a new 52-week high early in the session. Alphabet and Microsoft shares rose 2.1% and 3.9%, respectively.

Despite Thursday's rally, market breadth concerns persist. Keith Lerner, Co-Chief Investment Officer at Truist, said certain companies and sectors are driving the bull market, covering some of the cracks below the surface.

In addition, negotiations on the US debt ceiling continue, with the default deadline approaching. Negotiations between the leaders of the US Congress and US President, Joe Biden, made progress on Thursday. According to a report from Reuters, the two sides now only need to agree on a spending amount of $70 billion.

Uncertainty around the talks has weighed on US stocks this week, with the Dow Jones and S&P 500 down 2% and 1% respectively so far this week, while the Nasdaq Composite is up 0.3%. .

Oil prices fell sharply on Thursday (May 25) after Russian Deputy Prime Minister Alexander Novak downplayed the prospect of additional OPEC+ production cuts at next week's meeting.

Ending the session, the Brent oil contract fell 3.6% to 75.55 USD/barrel. WTI oil contract lost 3.95% to 71.41 USD/barrel.

Data from TradingView shows that BTC/USD has recovered slightly from a flash drop below $26,000.

With little excitement present in the spot market, traders and analysts are looking for potential volatility catalysts.

Macroeconomic reports from the US, including gross domestic product estimates for the second quarter and the number of jobless claims, have failed to change the status quo.

Prominent trader, Jelle, summed it up : “The bulls cannot push the price lower as the market retests the support zone.”

He added that a reclaim of $26,600 would be the “ideal scenario,” acting as a springboard for BTC/USD to regain the previous range.

Crypto trader Tony has repeated a popular bearish target of around $25,000 if Bitcoin continues to form a lower low.

Analyzing BTC briefly falling below the $26,000 mark, trader Skew said: “It was the usual pump and pull of Liquidity for Binance.”

Then, he explained, the price rebounded as limit buy orders filled and order book Liquidity sanitize.

Overview of Binance order book data | Source: Skew

Meanwhile, on the weekly timeframe, analyst Rekt Capital has emphasized the importance of current spot prices.

He noted that just above the $26,000 level is the 200-week moving average and flipping it back into resistance will pose long-term difficulties for the bulls.

Further analysis has warned that Bitcoin's multi-month high at $31,000 is rapidly turning in favor of the bears, completing a head and shoulders pattern.

“So far, BTC has broken down a head and shoulders pattern. BTC also recently turned the Neckline of this pattern into new resistance (red). This bearish pattern is being validated, which could lead to a deeper drop to the bottom of $20,000.”

BTC/USD chart with caption | Source: Rekt Capital

The Altcoin market rebounded slightly as BTC bounced back around $26,400 following yesterday's plunge.

SingularityNET (AGIX) is the project that recorded the best growth of the day, when it bounced more than 10%, erasing all losses in the past 7 days.

Other Altcoin like Casper (CSPR), Pepe (PEPE), Enjin Coin (ENJ), Render Token (RNDR), Litecoin (LTC), THORChain (RUNE), Polygon (Matic), OKB (OKB), Huobi Token (HT))… increased slightly from 3-5%.

Source: Coinmarketcap

After yesterday's plunge, establishing a local bottom at $1,761, Ethereum (ETH) managed to regain the $1,800 area with slight gains of nearly 1.5% on the day.

ETH price chart – 1 hour | Source: TradingView

Lecturas Relacionadas

MemeCore Token Crashes As ZachXBT Warning Puts Insider Supply Back In Focus

MemeCore's M token experienced a severe crash, plunging over 70% in a single session. This sudden sell-off revived concerns highlighted by on-chain investigator ZachXBT regarding tokens with concentrated insider supply and thin liquidity. The incident underscores the fragility of many memecoins, where large paper valuations can vanish quickly when selling pressure hits illiquid markets. It also brings exchange listing standards into question, as listings can imply a legitimacy not supported by the underlying token structure. The crash serves as a stark warning for traders that social traction and high market capitalization do not guarantee resilient liquidity, emphasizing the risks inherent in high-beta crypto assets.

bitcoinistHace 9 min(s)

MemeCore Token Crashes As ZachXBT Warning Puts Insider Supply Back In Focus

bitcoinistHace 9 min(s)

GPT Designs GPT

OpenAI has unveiled its first custom AI chip, Jalapeño, a move signaling a strategic shift beyond being a mere model company. While many see it as a challenge to NVIDIA, its core aim is to control the entire intelligent production pipeline—from models and chips to data centers and energy. The key driver is the evolving competitive landscape: model advantages are shrinking, while the computational gap in areas like cost-per-token, system throughput, and energy efficiency is becoming the true long-term barrier. Jalapeño is primarily an inference chip, targeting the massive and growing "inference tax"—the daily operational cost of generating tokens for services like ChatGPT and APIs. By designing its own hardware optimized for its specific workloads and future product roadmaps (even using AI to aid the chip design process), OpenAI aims to drastically reduce token generation costs and improve system efficiency. This creates a potential flywheel: better models help design better chips, which lower costs for running next-generation models, supporting more users and products, which in turn provides more data to refine future chips. The strategy mirrors Apple’s integrated approach, building a closed loop where hardware, software, and applications are co-optimized. In the long term, OpenAI is not trying to become the next NVIDIA (a supplier of "shovels" to all AI companies) but to own and operate the entire "mine"—selling the end product of intelligence itself. This move marks OpenAI's ambition to evolve from creating the smartest models to controlling the foundational infrastructure of AI production.

marsbitHace 10 min(s)

marsbitHace 10 min(s)

Ethereum Foundation Interim Executive Director Speaks Out: What Is Our Mission?

The Ethereum Foundation's core mission is to ensure Ethereum remains a truly permissionless, censorship-resistant, private, and open infrastructure for large-scale, sovereign coordination. The article clarifies the EF's focus and dismisses irrelevant objectives, such as pursuing institutional popularity or short-term speculation. Its core work centers on eliminating systemic weaknesses. This involves fortifying Ethereum across multiple layers—protocol, access, user, and institutional—against exploitation, control, or surveillance. Key initiatives include minimizing harmful MEV and preventing privileged control over transaction flow, making unconditional privacy a foundational default, ensuring staking remains permissionless and decentralized, and strengthening user-facing access points to uphold autonomy. Concurrently, the EF aims to seize strategic opportunities. These include leading the transition to post-quantum cryptography, achieving a fully verifiable protocol stack, establishing Ethereum as private digital cash, integrating user-owned AI agents with personal wallets, and demonstrating that trusted-neutral infrastructure can competitively handle disintermediated coordination at an institutional scale. The article also addresses recent organizational changes, stating that personnel departures were due to strategic realignment, role fit, or natural evolution. It clarifies the approach to spin-outs, emphasizing that external funding will be provided only for work critical to the EF's mission that reduces Ethereum's dependency without creating new risks or mission drift. Ultimately, the EF is committed to building an enduring, neutral system that reshapes global coordination, focusing relentlessly on the principles of censorship resistance, openness, privacy, and sovereignty (CROP).

链捕手Hace 52 min(s)

Ethereum Foundation Interim Executive Director Speaks Out: What Is Our Mission?

链捕手Hace 52 min(s)

Switching Research Fields in the Final Year of My PhD, I Landed an Offer from OpenAI: My Interview Journey Was Full of 'Surprises'

Yong Zheng-Xin, a final-year PhD student at Brown University, secured an OpenAI offer after pivoting from multilingual models to AI safety research in his last year. In his blog post "Surprising lessons from my research scientist job search," he shares six unexpected insights from his job hunt. He found that often only one or two key papers matter for securing an interview, not the total number. Interview formats were highly diverse, including unexpected rounds on system design and AI agent usage. "Work trials," common in AI startups, involved paid, sometimes week-long collaborative tasks that disrupted other interview preparations. Timing proved crucial, with opportunity windows sometimes lasting less than a month. Return offers for research roles were rare compared to software engineering. Surprisingly, many interview rounds were unrelated to his specific AI safety focus, instead testing broader research competencies. Zheng-Xin concludes that the ability to demonstrate relevant expertise in a new field can unlock opportunities, regardless of one's previous publication record.

marsbitHace 1 hora(s)

Switching Research Fields in the Final Year of My PhD, I Landed an Offer from OpenAI: My Interview Journey Was Full of 'Surprises'

marsbitHace 1 hora(s)

David Villa Officially Appointed as Brand Ambassador for BitradeX

David Villa, the legendary Spanish striker and 2010 World Cup champion, has been officially appointed as the Global Brand Ambassador for BitradeX. This partnership, announced amid the global excitement for the 2026 World Cup, aims to enhance the platform's international brand influence. Villa, a key figure in Spain's golden era of football and the nation's all-time top scorer, embodies a spirit of perseverance, focus, and the relentless pursuit of excellence. BitradeX officials stated that this champion mentality aligns perfectly with their own core values of innovation, long-term development, and global strategic expansion. As a global AI-driven digital asset ecosystem, BitradeX will collaborate with Villa across branding, global market promotion, community engagement, and strategic initiatives. The company believes Villa's widespread influence and trusted international image will serve as a crucial bridge to connect with users worldwide. This collaboration marks a significant step in BitradeX's globalization strategy, with both parties committed to exploring new opportunities in the digital age and writing a new chapter of shared achievement.

链捕手Hace 1 hora(s)

Trading

Spot

Futuros