Bitcoin Bulls Target $69K Lifetime Highs Ahead of Halving
An expected pre-halving rally is a good spot to realize short-term profits, one market observer said.
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ETH
An expected pre-halving rally is a good spot to realize short-term profits, one market observer said.
Ether is now the largest single asset held by institutions, with Bybit speculating that this may be because of an upward swing from the Dencun upgrade.
“Without a bounce from here, we could see a deeper correction begin, potentially as low as $47,000-$49,000,” one trader said.
Although the larger part of the cryptocurrency sector seems to be slowing down its previously accumulated (massive) gains, some of … Continue reading
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Interest in ether bets rose significantly after the approval of spot bitcoin ETFs in January sparked optimism among ETH traders.
Institutional interest in digital assets means that crypto terms such as ‘Nakamoto Coefficient’ are now mainstream issues.
Options dealers likely bought ETH in spot/futures market to hedge their short call exposure, adding to bullish momentum, BloFin’s Griffin Ardern said.
In 2023, crypto users lost an estimated $2 billion to hacks and scams, with Ethereum experiencing the highest losses due to its extensive ecosystem and high-profile projects.
The haphazard price action caused over $200 million in liquidations of crypto-tracked futures, of which $150 million were longs, or bets, against higher prices.
Ether’s 14-week RSI has topped 70, a threshold that marked previous parabolic bull runs.