DeFi News Daily Official TheBitTimes.com

While the larger cryptocurrency market is facing a correction, Avalanche (AVAX) seems to be defying the trend. According to CoinGecko, Avalanche (AVAX) has registered a 9.8% rally in the last 24 hours, a 17.5% rally in the last week, a 36.5% rally in the 14-day charts, and 33.5% over the previous month. AVAX’s rally is quite surprising, given that most other crypto assets are trading in the red zone today. Let’s discuss why AVAX is behaving differently. Source: CoinGecko What’s Behind Avalanche’s Anomalous Rally? Source: Securehindi Avalanche’s (AVAX) divergent upswing could be due to updates around Grayscale’s Avalanche Trust. According to reports, the project has submitted a filing to convert the trust into a spot ETF. Grayscale initially submitted its S1 filing in late August. The decision to convert the trust into a spot ETF may have boosted investor confidence. Avalanche (AVAX) also witnessed a breakout rally in mid-September after Bitwise applie...

Although Solana (SOL) is facing increased selling pressure in line with broader cryptocurrency market sentiment, technical indicators suggest the asset may be preparing for a notable rally. Specifically, prominent online analyst TradingShot has observed that Solana has been trading within a rising channel since June, which forms part of a broader Fibonacci channel that began in early April. In a TradingView post on September 22, the analyst noted that after gaining more than 63% in its last bullish leg, SOL is now undergoing a pullback, mirroring a previous move where prices retraced to the 50-day moving average (MA) and the 0.5 Fibonacci retracement level before resuming their upward trajectory. SOL price analysis chart. Source: TradingView The Analysis points to a similar setup now forming, with the price likely to test support around the 50-day MA before rebounding. If this pattern repeats, Solana could rally roughly 63% in the medium term, potentially pushing...

Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and publishing How Our News is Made Strict editorial policy that focuses on accuracy, relevance, and impartiality Ad discliamer ...

Right now, a Shiba Inu price surge appears to be building up momentum, and analysts are actually warning that time is running out for investors to buy SHIB at these current discount levels. The meme cryptocurrency has been consolidating within what’s called a triangular pattern for over a year now, and this setup is creating some conditions for what could potentially be a price explosion that might deliver gains of around 528%. Also Read: Will Shiba Inu Coin Reach $1 Soon? SHIB Price Prediction Revealed Explore Shiba Inu Price Surge Factors And Predictions Before Buying Today Source: Watcher.Guru Technical Analysis Points to Shiba Inu Price Surge TradingView analyst Hamidemo has been tracking some compelling Shiba Inu price surge factors that suggest SHIB’s consolidation phase might actually be nearing completion right now. At the time of writing, the weekly chart reveals a descending resistance line that’s been capping movements since 2021, and it’s now convergi...

Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and publishing How Our News is Made Strict editorial policy that focuses on accuracy, relevance, and impartiality Ad discliamer ...

Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and publishing How Our News is Made Strict editorial policy that focuses on accuracy, relevance, and impartiality Ad discliamer ...

Sentiments across the cryptocurrency market remain elevated on the bullish side after Bitcoin (BTC) reached an all-time high of over $123,000. To this end, prediction markets are suggesting that the maiden cryptocurrency is likely to see more upside in the coming months. Specifically, traders on cryptocurrency betting platform Polymarket see an 84% chance that BTC will reach at least $130,000,  the highest-probability outcome, according to the latest data retrieved by Finbold on July 13. The next most likely level is $150,000, with a 53% chance. Beyond that, optimism wanes but remains notable, with a 20% probability that Bitcoin will reach $200,000 and a 10% chance of surpassing $250,000. At the extreme end, the platform assigns a 3% chance that Bitcoin will reach $1 million by 2025. Bitcoin price prediction for end of 2025. Source: Polymarket Meanwhile, some traders are hedging for a potential correction, as lower price targets like $70,000 (13%), $50,000 ...

Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and publishing How Our News is Made Strict editorial policy that focuses on accuracy, relevance, and impartiality Ad discliamer ...

Ripple’s XRP cryptocurrency also seems to be following the ongoing market rebound. The asset has risen 0.2% in the last 24 hours, 3.9% in the weekly charts, and 376% since June 2024. Major digital assets, including Bitcoin (BTC) and Ethereum (ETH), edged higher during the American session on Wednesday, sparked by the US CPI data coming in below the market forecast. The Core CPI, which excludes the volatile prices of food and energy, rose 2.8% in May, matching the figures in April. Monthly, the CPI and the Core CPI each rose 0.1%, sitting below market expectations of 0.2% and 0.3%, respectively. Investors are hoping the data will have an effect on the Fed’s upcoming decision to cut or maintain current interest rates. However, most suggest it won’t, leaving the fate of the crypto market’s bull run in the hands of the Federal Reserve. For XRP specifically, its price currently edges higher above the confluence support at $2.26, established by the 50-day Exponential Moving...

Ethereum’s Ether cryptocurrency (ETH) could be set to surge in price, as traders are betting big on the asset reaching $6,000 this year through bull call spreads. ETH has crashed from the $4k valuation it had back in December 2024, but began a strong rebound this May. At press time, the Ethereum token is up 57% in the last 30 days alone. Traders are riding on the asset to continue its climb through the summer and hit a new ATH before the year is done. Last week, block traders, typically institutions and large players, executed bull call spreads on ether. The traders picked the $3,500 call options while also shorting an equal number of calls at the $6,000 strike. These bets would expire on December 26, meaning Ethereum has until then to hit that number to reward the betters. Traders executed the strategy via the over-the-counter platform Paradigm, which was later listed on crypto exchange Deribit. Traders executed 30,000 contracts of the $3,500/$6,000 call spreads across 10 separat...

Bitcoin price surge has intensified in the last few days as the leading cryptocurrency, currently trades at about $99,816.94, as CoinMarketCap reveals, just a few dollars away from the big $100,000 milestone that everyone’s been talking about. This Bitcoin price surge triggered a pretty massive $215 million liquidation of short positions just in the past 24 hours alone. Source: CoinMarketCap Also Read: Solana (SOL) & Cardano (ADA) Eye RWA, Trading Stocks On Blockchain Bitcoin Price Surge and Key Market Risks Ahead of $100K Breakout Source: Watcher Guru Market Liquidations Hit $298M The crypto market experienced one of its most aggressive shakeouts in recent weeks. At the time of writing, Bitcoin led the wipeout with approximately $114.46 million in liquidations, and then Ethereum followed with around $65 million in losses too. Short positions definitely bore the brunt with $215 million wiped out, which created what traders are calling a classic short squeeze right in the middle of...