A rail system for transporting the artifacts out of the area had already existed to the south rim of the Grand Canyon.

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Ethereum price greenlit for further upside after surprise 29% ETH rally

Ether (ETH) surged 29% from May 8 to May 9, ending a 10-week bear run that bottomed at $1,385. This move triggered over $400 million in short position liquidations, catching whales and market makers by surprise.

Despite the jump, ETH derivatives remain neutral. The futures premium hasn’t exceeded the 5% neutral mark, showing limited appetite for bullish bets. ETH still lags the altcoin market by 17% in 2025, pointing to persistent investor caution.

Some analysts see room for further short covering, while others argue Ethereum’s fundamentals haven’t meaningfully improved.

Ethereum leads in decentralization and TVL

Network upgrades have boosted Ethereum’s layer-2 scalability and cemented its lead in decentralization and security. Ethereum’s total value locked (TVL) is at $64 billion, far ahead of Solana, BNB Chain, and Tron’s combined $22.3 billion.

Yet, investor demand remains weak. Even after ETH’s best single-day gain in four years, U.S.-listed spot ETFs saw $16 million in net outflows on May 8—marking the third straight day of withdrawals.

Part of the muted enthusiasm stems from an 85% drop in network fees between January and April, which weakens ETH demand and staking yields due to reduced burning activity.

Neutral sentiment dominates options market

ETH options show equal pricing for puts and calls, signaling a lack of strong directional sentiment. This doesn’t bode well for bulls—but a sentiment shift could help.

Former U.S. President Donald Trump’s reversal on crypto policy may be a catalyst. According to Politico, Trump distanced himself from a pro-crypto lobbyist after feeling “used.” While he previously praised Solana, Cardano, and XRP, a later executive order adopted a far more cautious stance.

Even amid ETF outflows and cautious derivatives markets, ETH could still climb toward $2,700—especially if competitors’ lobbying efforts continue to falter.

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asosfashion

May 25, 2023, 20:29

Pleasure to welcome Retail Minister @kevinhollinrake from @biztradegovuk to ASOS HQ today and introduce him to our innovative creative team, who spend every day designing products to delight our customers https://t.co/UZEWsueyyX

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How high can Bitcoin price go?

Bitcoin surged 4.3% on May 9, climbing above $100,000 for the first time in over 90 days, reaching $104,150 during the late New York session. This rally coincided with a spike in market greed, as the Crypto Fear & Greed Index jumped from 65 to 73.

The surge triggered over $925 million in liquidations, including $800 million from short positions—the largest since 2021, according to CoinGlass. Despite overbought RSI conditions, analysts highlight continued bullish momentum, backed by key moving averages and the MACD indicator.

“Bitcoin is in an uptrend,” analyst GemXBT stated, emphasizing BTC’s position above the 5MA, 10MA, and 20MA. This suggests strong buying pressure may continue in the short term.

Analysts are setting ambitious targets. AlphaBTC predicts a move toward $106,000, citing alignment between Fibonacci levels and support zones. If BTC closes above $109,000, Egrag Crypto believes it could reach $170,000, but warns anything less may signal a bull trap.

Binance founder Changpeng Zhao sees even higher potential, estimating BTC could reach between $500,000 and $1 million this cycle, driven by institutional demand and pro-crypto U.S. policy under President Trump.

From a technical standpoint, BTC has broken out of a weekly bull flag pattern above $88,000. This setup could propel the price toward $182,200—up 75% from current levels.

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