Bitcoin Near $119K; Coinbase Base App Show Face
Bitcoin don bounce back come around $118,800 after e bin hit all-time high near $122,000 briefly, e sharp like this because on-chain metrics like open interest and funding rates dey rise. Short-term holders don start to dey take profit, Glassnode talk say unrealized profit na 15.4% and realized profit-to-loss ratio na 39.8%—these levels dem dey usually show before market tops. CryptoQuant data still show say one day, Binance users collect $9.29 billion realized Bitcoin profit, fit mean say short-term wahala fit happen. Na $130,000 be the next strong resistance for Bitcoin. Meanwhile, traders dey move to main altcoins: Ethereum (ETH) jump 7.5% amid stablecoin regulation progress under GENIUS Act, and Solana (SOL) gain 5% after Galaxy Digital carry $55 million tokens comot from exchange. Different side, Coinbase don rebrand their Wallet to Base App during “A New Day One” event, dem dey market am as the gateway to Layer-2 Base Chain, developer suite Base Build, plus one new mini-app marketplace wey join chat, payments, trading and social features to push mainstream adoption.
Bullish
Dis news dey bullish for Bitcoin. Di rebound from $116K go near $119K, plus di open interest and funding rates dey rise, e show say traders confidence and momentum dey grow. Even though short-term holders dey chop profits, di next resistance at $130K dey show say e get space for more upside. Record realized profits dey show possible volatility, but altcoin rotation into ETH and SOL plus Coinbase launch Base App dey show healthy capital flows and product innovation wey fit support long-term market growth and adoption.