Bitcoin Holds Steady, Solana-Based Crypto PUMP Surges 18%

1. Bitcoin Consolidates – Is The Crypto Market Coiling Before A Major Move?

Bitcoin price data. Image: TradingView

Bitcoin has been trading between $117,000–$118,000 for several days, reflecting a standoff between whale accumulation and profit-taking pressures.

Over the past 24 hours, 90% of the top cryptocurrencies moved less than 4%, suggesting the market is currently in accumulation mode. Key technical indicators show that BTC is at a critical inflection point:

•  - RSI: 60 – Buying momentum is cooling off, market awaits a clear signal.

•  - ADX: 22 – Indicates a weak and indecisive trend.

•  - 50- and 200-day EMAs – Reflect a structurally bullish setup.

•  - Squeeze Momentum – Signals volatility compression, often a precursor to explosive movement.

Key levels for Bitcoin:

•  - Strong support: $112,000

•  - Immediate resistance: $120,000

•  - Breakout level: $123,171 (all-time high)

2. While The Market Sleeps, Solana’s PUMP Token Jumps 18%

Pump price data. Image: TradingView

While most altcoins remain flat, one name is making waves: PUMP, the native token of Pump.fun on the Solana network.

Just last week, PUMP was the worst-performing coin in the top 100. But today, it's up 18%, taking the lead as the best-performing crypto asset of the day.

Why is PUMP “pumping”?

The primary catalyst: a. buyback program.

Pump.fun has committed to using 100% of its daily platform fees (~$2.16 million) to buy back PUMP tokens from the market. This move:

•  - Creates immediate buy pressure

•  - Boosts investor confidence

•  - Helps suppress panic selling

While buybacks are common in equity markets, their use in crypto is proving highly effective—especially during times of low market activity.

3. PUMP: Sustainable Recovery Or Dead Cat Bounce?

Technical indicators suggest a recovery trend may be forming:

•  - RSI: 57.09 – Indicates strong buying momentum, with room for more upside.

•  - ADX: 19 – Weak trend but recovering from a sharp downtrend.

•  - Trading volume: Up 25.68%, hitting $683.9 million

Currently, the $0.003 price level is acting as a strong resistance. A bullish ascending triangle pattern is forming, which typically signals a continuation of the uptrend if a breakout occurs.

4. Bottom Line: PUMP Attracts Capital Amid A Sleepy Market

•  - Bitcoin remains in consolidation, waiting for its next breakout.

•  - Most altcoins are flat and lack momentum.

•  - PUMP stands out by combining fundamentals (buybacks), technical setups, and favorable market sentiment.

Buybacks are bullish, as long as the one buying has deep enough pockets.