{"id":56080,"date":"2025-07-17T03:44:27","date_gmt":"2025-07-17T03:44:27","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/bitcoin-trades-near-119k-after-new-all-time-high-coinbase-rebrands-wallet-to-base-app\/"},"modified":"2025-07-17T03:44:27","modified_gmt":"2025-07-17T03:44:27","slug":"bitcoin-trades-near-119k-after-new-all-time-high-coinbase-rebrands-wallet-to-base-app","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/bitcoin-trades-near-119k-after-new-all-time-high-coinbase-rebrands-wallet-to-base-app\/","title":{"rendered":"Bitcoin trades near $119K after new all-time high; Coinbase rebrands wallet to ‘Base App’"},"content":{"rendered":"

(Originally posted on : CoinJournal: Latest Crypto News, Altcoin News and Cryptocurrency Comparison )<\/b>
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Bitcoin is holding steady above the $118,800 mark as the market digests its recent powerful rally to a new all-time high of over $122,000. <\/span><\/p>\n

While on-chain data now indicates that the first wave of heavy profit-taking has begun, particularly among short-term holders sitting on significant gains, some analysts believe that historical patterns still suggest room for another push higher, though they are also warning that \u201coverheating\u201d signals are beginning to flash.<\/span><\/p>\n

In a recent report, on-chain analytics firm Glassnode highlighted that \u201cshort-term holders are now sitting on significant unrealized profits,\u201d a condition that is pushing key indicators \u201ctowards overheated territory.\u201d <\/span><\/p>\n

The Short-Term Holder Relative Unrealized Profit metric recently hit 15.4%, breaching a key statistical threshold (+1 standard deviation) before cooling slightly. Historically, this level \u201coften marks the beginning of top formation,\u201d according to Glassnode.<\/span><\/p>\n

The firm also pointed to the Realized Profit to Loss Ratio, which recently spiked to a staggering 39.8, \u201cwell above the +2 standard deviation threshold,\u201d signaling a period of intense profit-taking from successful traders. <\/span><\/p>\n

Although this ratio has since declined to a more moderate 7.3, the elevated reading remains consistent with behavior typically seen in the late stages of a bull market.<\/span><\/p>\n

\u201cSo far, both the Percent of Spent Volume in Profit and the Realized Profit to Loss Ratio have signaled the first wave of excessive profit-taking,\u201d the report concluded. <\/span><\/p>\n

While this doesn\u2019t necessarily mark a definitive market top, Glassnode cautions that \u201csuch top formations tend to unfold across multiple waves,\u201d with the next major resistance level for Bitcoin projected to be around the $130,000 mark.<\/span><\/p>\n

The great rotation: traders move into altcoins<\/span><\/h2>\n

As Bitcoin\u2019s near-term upside appears increasingly constrained by this profit-taking pressure, some traders are beginning to rotate their capital into major altcoins. <\/span><\/p>\n

Ethereum (ETH) surged an impressive 7.5% in the past 24 hours, outpacing Bitcoin and breaking out of a recent consolidation phase. <\/span><\/p>\n

Analysts have pointed to the recent advancement of the GENIUS Act, a stablecoin regulation bill, as a potential catalyst for ETH\u2019s strong performance.<\/span><\/p>\n

Solana (SOL) also saw a significant jump, up 5%, buoyed by fresh on-chain data showing that Galaxy Digital had accumulated $55 million worth of SOL within a tight two-hour window, withdrawing the tokens from multiple centralized exchanges. <\/span><\/p>\n

This rotation into major altcoins like ETH and SOL suggests that while Bitcoin\u2019s broader market structure remains intact, traders are seeking opportunities for higher returns in other parts of the crypto ecosystem.<\/span><\/p>\n

Coinbase\u2019s big rebrand: from \u2018Wallet\u2019 to \u2018Base App\u2019<\/span><\/h3>\n

In a significant development for the broader crypto ecosystem, Coinbase has officially rebranded its popular Wallet product as the \u2018Base App\u2019.<\/span><\/p>\n

This move confirms speculation that had been swirling since the company scrubbed its X profile earlier this week. <\/span><\/p>\n

The rebranding positions the app as a central gateway into the burgeoning Base ecosystem, which is now being pitched as a full-stack, on-chain platform designed for mainstream adoption.<\/span><\/p>\n

The rebrand was officially announced during Coinbase\u2019s \u201cA New Day One\u201d event, which also unveiled a broader vision for the Base ecosystem, now built around three key pillars: the existing Layer-2 network,\u00a0<\/span>Base Chain<\/span>; a new developer toolkit suite dubbed\u00a0<\/span>Base Build<\/span>; and the newly launched\u00a0<\/span>Base App<\/span>.<\/span><\/p>\n

Unlike its predecessor, the Coinbase Wallet, the new Base App is designed to be much more than just a place to store crypto. <\/span><\/p>\n

It will integrate chat functionalities, payments, trading, and a mini-app marketplace that supports a wide range of social and financial experiences. <\/span><\/p>\n

This is not Coinbase\u2019s first attempt at a wallet makeover (long-time crypto users will remember its original wallet, \u201cToshi\u201d), but it is arguably its most ambitious. <\/span><\/p>\n

With the Base ecosystem increasingly distancing itself from the parent Coinbase brand, the new app appears designed to emphasize Base\u2019s distinct identity as a more decentralized, open ecosystem\u2014one that is anchored in the core values of crypto but packaged in a user-friendly way for the everyday consumer.<\/span><\/p>\n

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(Originally posted on : CoinJournal: Latest Crypto News, Altcoin News and Cryptocurrency Comparison ) Bitcoin is holding steady above the $118,800 mark as the market digests its recent powerful rally to a new all-time high of over $122,000. While on-chain data now indicates that the first wave of heavy profit-taking has begun, particularly among short-term […]<\/p>\n","protected":false},"author":3947362378,"featured_media":56081,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/56080"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/3947362378"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=56080"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/56080\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/56081"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=56080"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=56080"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=56080"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}