📊 Major crypto market short. According to Arkham data, the | TopCryptoNews on Binance Square

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📊 Major crypto market short.
According to Arkham data, the Abraxas Capital fund holds a huge short position.

A position of $780 million is open with $BTC , $ETH , $HYPE , #SOL , and #SUI .

However, the current loss is about $120,000,000 📉

Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.

BTC

121,146.05

+0.80%

ETH

4,670.68

+4.18%

HYPEUSDT

Perp

45.4

+2.18%

2.5k

0

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⚡️ Cardano Golden Cross Confirmed, Is $1 Next? Cardano (ADA) is back into bullish mode, with a golden cross formation now extended. With this outlook, the ADA price is currently eyeing the $1 milestone as prices and market momentum continue to build. 🔸 Cardano flashes bullish signal The extended golden cross formed on the three-hour chart implies ADA could sustain its bullish rally soon. A golden cross occurs when a short-term moving average goes above a longer-term moving average. In the case of ADA, the nine-day moving average has crossed over the 21-day, which suggests a potential bullish trend reversal. As of press time, ADA is priced at $0.87 per coin, demonstrating a 12.6% increase over the past 24 hours. The ADA price rallied as high as $0.88 earlier today before dropping to the current levels. Meanwhile, technical support is sitting right around $0.8098, aligning with the 23-day moving average. If the ADA price continues to hold above this level, it could easily reach the $1 mark. However, the Relative Strength Index (RSI) for ADA is at 70.3, indicating that the asset is becoming overbought. This level suggests a potential correction might be around the corner. Still, momentum and sentiment are bullish, with ADA seeing a fresh wave of interest from investors. In the past 24 hours, ADA trading volume has rallied more than 102% to $2.5 billion. 🔸 ADA set for new highs A golden cross formation is usually seen as a good sign for the market. It is usually seen as important when investors are showing optimism, as seen in the current market. The ADA price witnessed a 300% increase in November 2024, following a golden cross formation. Cardano rose from $0.325 in early November 2024 to reach $1.32 on Dec. 3 of the same year. Considering this rally, the market will be watching to see if history will repeat in the current market cycle, especially with the Cardano ETF on the horizon. Note that a 300% surge from the current price of $0.87 would produce a target of $3.48. #ADA #Cardano

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💵 $ETH is approaching $4700 In the past day, Ethereum has increased in price by 8.5% and liquidated short positions worth $285 million from the market. About 5% growth remains to reach the all-time high. At the same time, the Ethereum Foundation sold 2795 ETH for approximately $13 million, while spot Ethereum ETFs recorded an inflow of another $524 million. Will we update the ATH today? #ETH #Ethereum

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📈 $ENA Holds Above Support as Price Approaches $0.7327 Resistance Ethena (ENA) upheld its strength, recording great increases in the last 24 hours. The token’s value at the moment was $0.7304, an increase of 18.9% within the last 24 hours. Its volume of trade relative to the major currencies is also very solid, trading 0.056223 BTC, an increase of 18.1%, and 0.0001742 ETH, an increase of 10.4%. The sharp rally follows a decisive breakout from a previous consolidation zone, supported by sustained buying pressure. 🔸 ENA Holds Breakout Structure Within Tight Trading Range Recent trading activity has been characterized by a sharp rise that drove ENA more than 66% above previous lows. The rally was initiated following a breakout of a well-defined resistance zone, and it resulted in a prolonged move. Its immediate support level is at $0.613 that has worn strongly against small retraces, offering a foundation towards continued upward momentum. Remarkably, price action has since turned up at this support since the breakout, indicating its importance on a short-term basis. The next immediate resistance will be at $0.7327. Price reached this level several times in the past 24 hours, which indicates the presence of active buyers and sellers. The intraday charts show that there has been a limited range of price movement following the support base at $0.613 and the resistance level at $0.7327. Market players paying attention to short-term direction are likely to keep an eye on this range. The ability to keep trade above the breakout zone has influenced the maintenance of the existing upward structure. 🔸 #ENA Maintains Breakout Momentum with Volume Supporting Uptrend Structure The recent 66%+ rally has been accompanied by increased volume, confirming elevated interest from traders during the uptrend. This growth in trade strengthens the importance of the current migration. The breakout was followed by a measured pull back to a successful retest of the former resistance zone currently turning into support previously in the session. #Ethena

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3️⃣ Best Altcoins to Watch Before the Next Crypto Breakout 🔸 Sui (#SUI ): the high-throughput contender Sui has been catching eyes for its unique “object-centric” architecture and ability to process transactions in parallel. Translation: it’s built for speed. Lightning-fast execution and ultra-low latency are exactly what DeFi and gaming platforms need, and Sui is delivering both. The network’s been expanding at a clip, with regulated banks now offering custody services for SUI – a big step toward mainstream credibility. With total value locked climbing and more developers building on its chain, Sui has the infrastructure, the narrative, and the momentum to be a real contender when the next wave of capital hits the market. 🔸 Avalanche (#AVAX ): subnets for the win Avalanche has carved out its own lane by perfecting subnets – custom, application-specific blockchains that let developers scale exactly how they want. That flexibility has made it a magnet for gaming studios, enterprise applications, and DeFi projects looking for performance without compromise. Recent metrics show activity and adoption ticking up, and institutional backing from major financial players is only adding to the tailwind. In a space where scalability is gold, AVAX has the tech and the relationships to keep growing, no matter how the broader market shifts. 🔸 Polkadot (#DOT ): the interoperability leader Polkadot’s entire pitch is solving one of crypto’s biggest headaches – making blockchains talk to each other. Its Layer 0 design and parachain network create seamless cross-chain communication, unlocking use cases that single-chain ecosystems simply can’t match. As the Web3 world grows and demands more interoperability, DOT’s role as the connective tissue of the space becomes harder to ignore. The parachain auctions and ecosystem growth keep adding new utility, making DOT a solid long-term infrastructure play with breakout potential.

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🚀 Ethereum’s Next Stop: $5,210 or $6,946? Analyst Lays Out the Path Ethereum (ETH) has logged nearly 20% gains in the past week as it outperformed many crypto assets. After reclaiming the $4,200 price level for the first time since 2021, ETH has managed to stay above this level. Beyond price action, on-chain data reveals a telling change in how the leading altcoin’s most dedicated holders are behaving. 🔸 From “Capitulation” To “Belief” There has been a significant shift in sentiment among long-term Ethereum holders over the past four months. In fact, crypto analyst Ali Martinez found that this cohort of investors is moving from a phase of “capitulation” to one of “belief.” Such a transformation means that investors who previously showed signs of surrender or likely selling at a loss or exiting positions amid market uncertainty are now demonstrating renewed confidence in ETH’s future trajectory. Historically, transitions from capitulation to belief have coincided with the early stages of bullish cycles. This is because reduced selling pressure and stronger holding behavior can create a more favorable supply-demand dynamic for price appreciation. With sentiment improving, the focus now shifts to ETH’s next major resistance levels. Martinez has now identified $5,210 and $6,946 as Ethereum’s next potential price targets based on Pricing Bands, a technical tool used to project key resistance and support zones. These levels represent significant milestones that, if reached, could signal ETH’s progression into a new price discovery phase. The $5,210 mark is likely to serve as the first major hurdle, where traders may anticipate increased profit-taking. However, a successful breakout could set the stage toward the higher $6,946 target. Market sentiment isn’t the only thing improving. Ethereum’s fundamentals are also showing signs of strength. #ETH #Ethereum

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