Bitcoin Continues to Trade Sideways Today Amid Mixed US Economic Indicators

US Consumer Confidence Index Records 98.0, Rising 12.3 Points from April
US Durable Goods Orders Decrease by 6.3% Following Tariff War Aftermath
BTC Remains Around $108,000... Altcoins Surge with Pumping
CoinGlass: "BTC Will Surge if Exceeding $115,000"

Major US economic indicators showed mixed trends, and Bitcoin (BTC) remained stable on the 28th.

The Consumer Confidence Index announced on the 28th was 98.0, rising 12.3 points from April. In contrast, due to the US President's tariff war reducing corporate investment, US durable goods orders for April, including aircraft and automobiles, decreased by 6.3%.

While Bitcoin remained around $109,000 from the previous day, altcoins rose. Many altcoins rose by more than 2% on the 28th. There are interpretations that funds flowing into the market from Bitcoin's recent all-time high are alternately driving altcoin increases.

◇Bitcoin = The Bitcoin price on Upbit at 4 PM on the 28th was 151,410,000 won. Bitcoin's dominance was 64.07%.

According to on-chain analysis platform Sigbit, the long and short betting ratios in the Bitcoin futures market were 42.14% and 57.86%, respectively.

Based on futures market betting amounts, claims have been raised that Bitcoin could see additional surge if it breaks through $115,000.

On-chain analysis platform CoinGlass pointed out short betting positions scattered in the Bitcoin futures market. According to data released by CoinGlass, approximately $7 billion (about 9.6075 trillion won) was bet on short positions expecting Bitcoin to decline at $115,000.

Analysis suggests a potential 'short squeeze' if Bitcoin breaks through $115,000. A short squeeze occurs when asset values surge unexpectedly, forcing those with falling bet positions to purchase assets.

◇Rising Coins = At 4 PM on Upbit, the cryptocurrency with the largest increase was Mask Network (MASK), rising about 13%.

Mask Network is a protocol enabling encrypted messaging on social media platforms like Twitter and Facebook. It aims to serve as a bridging role during the transition to Web 3.0 and provides P2P transmission and decentralized wallet functions.

Mask Network is a digital asset used in the protocol and serves as a means of governance.

◇Fear and Greed Index = The digital asset Fear-Greed Index provided by Alternative is 71 points, entering the 'Greed' stage. The greed stage is characterized by increased price volatility and trading volume, indicating a potential price rise. Caution is advised for selling due to the high possibility of short-term peak formation.

The Relative Strength Index (RSI) for cryptocurrencies provided by Sigbit was 49.8, recording a 'neutral' state. RSI measures the relative strength between upward and downward price pressures and indicates overbought and oversold scales for specific assets.

Reporter Seung-won Kwon ksw@blockstreet.co.kr