Bitcoin
Bitcoin
$115,111 stands strong over 115,000 USD, while ETH hovers around the 3,650 USD mark. Despite a bearish start to the new month for cryptocurrency investors, sell-offs have currently halted, opening doors for sudden gains in altcoins. This prompts the question: where is the crypto rise signal that Rover mentioned?
Crypto Market’s Rising Signal
For some time, whales have been on a selling spree, with Bitfinex whales being closely monitored by on-chain experts. Crypto Rover highlights this situation, noting that Bitfinex whales have begun taking long positions, indicating a potential rise. The analyst emphasizes this as one of the clearest upward signals and shares the following chart.
Bitfinex whales are engaging in long positions again, suggesting a strong buying signal. The notion is to follow smart money.
Another market booster comes from Trump, who made an optimistic statement following a meeting with Putin. Trump’s upcoming announcements by Friday are expected to be a determinant for the market.
A high-profile dialogue took place between Steve Witkoff and Russian President Vladimir Putin, leading to significant progress, which was communicated to European allies. The emphasis is on the consensus to end the ongoing conflict, with efforts expected in the coming days and weeks.
Ethereum (ETH)
Sina from 21st Capital touched on the growing popularity of Ethereum
$3,649 treasury companies. One of the largest of such companies is led by Tom Lee, who suggests that ETH could outperform BTC in the future. Sina provides a counter-comment.
According to Sina, no cryptocurrency, including Tom Lee’s favorite, can outperform Bitcoin in the long term. Even with initial gains, the value of the assets you hold will significantly decrease.
Analyst Yoddha highlights the upward potential in the current ETH chart, indicating that Ether is poised for a rapid rise as it lingers just below a weak resistance point, with expectations of a rally in altcoins as well.