Tag: Rally

Bitcoin Primed to Rally to $56K as Nasdaq Breaks Out of Bull Flag, Chart Analyst Says

Bitcoin (BTC) has rallied nearly 50% in the first seven weeks of the year, reaching a six-month high of $24,900, with outside forces like the sentiment in traditional markets largely supportive. Recently, the crypto market and Wall Street’s tech-heavy Nasdaq index have grown resilient to the Federal Reserve’s (Fed) angst and the resulting uptick in Treasury yields. Bitcoin’s 90-day correlation coefficient with Nasdaq has increased to 0.75, indicating the two assets are moving in tandem. Source

End of bull run? The Graph awaits correction after a 200% GRT price rally

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GRT has turned technically overbought, but its long-term potential remains skewed to the upside thanks to healthy network fundamentals. The Graph (GRT) price slipped on Feb. 8 alongside a broader correction across the top crypto assets. GRT price skyrockets with other data management tokens GRT’s price plunged nearly 14.5% intraday to $0.18, showing signs of short-term upside exhaustion after rising over 200% earlier in the year. At its sessional high, the token was changing hands for $0.23 on Feb. 7, its highest level in nine months GRT/USD daily price chart.…

Bitcoin bulls stumble at $23.4K as Fed’s ‘disinflation’ sparks BTC price rally

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Bitcoin (BTC) rebounded to key resistance into Feb. 8 as crypto markets got a boost from a familiar source. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Powell: “Disinflationary process” is here Data from Cointelegraph Markets Pro and TradingView showed BTC/USD reaching the important $23,400 zone on Bitstamp overnight. The pair reacted positively to the latest comments from the United States Federal Reserve, these also serving to send equities higher during the Feb. 7 Wall Street trading session. Fed Chair Jerome Powell again mentioned “disinflation” during his appearance, reinforcing market hopes…

Avalanche (AVAX) price is up, but do fundamentals support the rally?

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Avalanche (AVAX) witnessed a meteoric start to 2023, gaining 98% in 30 days, and traders are now curious about whether the rally will extend throughout February. AVAX’s year-to-date gains for 2023 have outpaced those of Bitcoin (BTC) and Ether (ETH). Recent reasons for AVAX’s rally can be attributed to an Amazon partnership announcement on Jan. 11. The partnership is meant to easily deploy nodes on the Avalanche blockchain with Amazon Web Services (AWS). Ava Labs, which supports the Avalanche ecosystem, hopes the partnership increases blockchain usage for enterprises and governments. While AVAX…

Lightning Network Surges to All-time High as Bitcoin Short-term Rally Continues

As use case appeal strengthens, the Lightning Network is now at an all-time high of over 5,490 BTC or $128 million in capacity.  According to reports, the Lightning Network recently attained an all-time high as Bitcoin continues to rally. According to The Block, the amount of BTC locked in the Bitcoin (BTC) payments network reached a record high, with the Layer 2 network’s capacity growing by more than 5,490 BTC. This increment, which translates to $128 million, is up from the 3,350 BTC recorded early last year. Lightning Network All-time…

Bitcoin, Ethereum and select altcoins set to resume rally despite February slump

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After the impressive rally in January, Bitcoin (BTC) seems to be taking a breather in February. This is a positive sign because vertical rallies are rarely sustainable. A minor dip could shake out the nervous longs and provide an opportunity for long-term investors to add to their positions. Has Bitcoin price bottomed? The opinion remains divided, however, on whether Bitcoin has bottomed out or not. Some analysts expect the rally to reverse direction and nosedive below the November low while others believe the markets will continue to move up and…

Are Cosmos’ ecosystem growth and roadmap enough to sustain ATOM’s current 50% monthly rally?

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In September 2022, Interchain Foundation, the team behind Cosmos’ development , introduced the Cosmos ATOM 2.0 whitepaper. The document proposed significant changes to Cosmos’s design, including a tokenomics upgrade to fund the Cosmos ecosystem development and reduce ATOM inflation. While the whitepaper launch acted as a bullish catalyst for ATOM price, the community vote to pass the proposal eventually failed, primarily because of its enormity. Some community members wanted to take a measured approach to each development feature listed in the whitepaper, starting with Interchain Security in Q1 2023. Interchain…

Bitcoin Extends New Year Rally, Crosses $24,000 Briefly

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While Bitcoin may not reach its previous all-time high of $69,000 before the end of 2023, some investors believe that crypto has bottomed out and would begin recovering. Building on its new year rally, the price of Bitcoin crossed the $24,000 threshold on Wednesday night. The upsurge corresponded with a gain in general tech stocks and a drop in the US dollar currency Index (DXY) and US Treasury yields. Bitcoin price has remained closely correlated to the tech-heavy Nasdaq stocks. Its latest rally comes after the Federal Reserve raised its…