At the time of writing, statements from Trump and the UK Prime Minister continue to facilitate trade agreement advancements. Meanwhile, Bitcoin (BTC) 
$75,800 soared to $120,000 in the past 24 hours, but more interestingly, major altcoins have experienced significant rises, some by 8%. The positive divergence of altcoins reaching new peaks fuels excitement for an altcoin bull market. What do the latest charts reveal for ETHBTC, PENGU, and PEPE Coin? Additionally, what are the details behind the report of a massive $950 million purchase?
New Corporate Bitcoin Acquisition
MARA Holdings recently announced the completion of their new convertible bond sales. What Michael Saylor initiated at the end of 2020 with his company MicroStrategy has grown beyond a trend today. As BTC rises, publicly traded companies looking to increase their shares issue new equity and debt to strengthen their capital, following in MSTR’s footsteps. The company’s name, Strategy, is poignant as it becomes an inspirational model for others to replicate this strategy.
MARA Holdings (Nasdaq: MARA) successfully completed a convertible bond issuance worth $950 million due in 2032, offering a 0% interest rate. The net proceeds of approximately $950 million will be used to make purchases and expand their Bitcoin reserves.
Analysis of ETHBTC, PENGU, and PEPE
In the ETHBTC pair, the level 0.0330 has been tested for two consecutive days without breaking through. Additionally, the slight drop in BTC price following the US stock market opening reversed the pair’s gains. We might see a move back to 0.03BTC as high volatility is expected in both directions this week. Although significant pieces of good news appear to have been released, things might shift in favor of the bulls if the PCE comes supportive or if Powell signals potential rate cuts next month.
For most altcoins, the ETHBTC pair needs to close above 0.033. PENGU reverted to its launch days in January and achieved notable gains recently. Investors looking at dips as buying opportunities increased their profits, encouraging more investors. However, the status of the ETHBTC pair will be decisive here. Closing above 0.0430 dollars is critical for PENGU to continue its journey to its all-time high (ATH). In a negative scenario, 0.0394 and 0.0356 dollars could be tested.
Things aren’t going great for PEPE Coin. Although it has increased, it couldn’t sustain strong gains like those seen in previous ETH’s upward move attempts. If ETH closes above $4,000, the resistance at $0.0000219 may once again become a target. Bulls, lingering in the support region today, might face a selling wave that could push the price to $0.0000106 if they lose steam. However, in an optimistic scenario, a new test to $0.0000142 is anticipated.
