As the price of Bitcoin (BTC) corrects after hitting a two-year high of $49,000 recently, enthusiasm for spot Bitcoin ETFs is waning, especially now that investors are turning their attention to similar coins such as Ethereum (ETH).

The impact of the positive news from the spot ETF on Bitcoin seems to be weakening. This is because investors have ended the hype before the passage and started to take profits when the market reached its high this month. Many experts have previously warned of the possibility of Bitcoin prices "buying when rumors spread and selling after the news is released." Therefore, this downward pattern did not surprise analysts.

Mina Protocol (MINA)

The Mina protocol is known as the world's lightest blockchain and is an ideal starting point for cryptocurrency beginners. By adopting zero-knowledge proofs, Mina enables the verification and sharing of data proofs without revealing the underlying data, thereby ensuring user privacy.

This privacy feature is especially valuable in financial applications such as lending, ensuring that user data is secure and controllable. MINA has risen 9% in the past 7 days and is currently trading at $1.21. The Mina Protocol 2024 forecast expects a trading price between $1.05 and $2.79.

Mina's unique features, including interoperability with blockchains such as Ethereum, and private interaction with any website to verify real-world data usage, make it an attractive option for cryptocurrency newcomers. Its lightweight design ensures that every user can participate as a full node, enhancing network decentralization and security.

Sui

SUI price has seen a significant surge over the past seven days, rising by more than 50% to hover around $1.25. This marks a notable breakout for Sui Network, breaking out of a two-week consolidation in the $0.74 to $0.10 range.

Technical indicators underscore this new bullish momentum, with the 20-day moving average at $0.67 remaining above the 50-day moving average at $0.59, maintaining the established bullish setup despite recent consolidation.

Currently, the Relative Strength Index (RSI) value is 76.33, indicating an overbought position that could hint at an impending correction in the coming hours. Nonetheless, a successful rebound above EMA20 could push the SUI price to $2 next week.

After the breakout, SUI faced multiple resistance levels ranging from $1.38 to $1.61 as it struggled to maintain its momentum above the important $1 mark.

Ivy (HBAR)

Many cryptocurrency traders are attracted to the Hedera cryptocurrency due to its promising blockchain technology within the industry. On January 13, the Hedera Council approved an additional $4.86 billion in HBAR to further develop the network and strengthen decentralized governance.

The total amount of grants is 4.248 billion HBAR, mainly used for ecosystem development and existing programs such as the HBAR Foundation. In addition, the newly formed DeRec Alliance composed of Hedera and Algorand focuses on improving the security of digital assets in the Web3 ecosystem through the DeRec protocol.

Currently, Hedera price is $0.078, with a 24-hour trading volume of $71 million, up 2.57% in the past 7 days. HBAR is ranked 83rd on CoinMarketCap, with a target of $0.09.

Hedera price prediction for 2024 is expected to be as high as $0.157, with an average of $0.148 and a minimum of $0.132, with growing partnerships contributing to this positive trend in the Hedera ecosystem.

Arbitration (ARB)

Arbitrum (ARB) is the last token to see decent gains this week, with Arbitrum trading at $2.07 at the time of writing, up 27.7% over the past seven days.

Looking at the 7-day trading view of ARB/USDT, the RSI is moving upwards and entering the overbought zone, showing that ARB bulls are trying to dominate, and the MACD indicator is also in the green zone, showing that Arbitrum prices may be bullish this week.

Celestia (TIA)

Celestia (TIA) is also a token that has surged in spot ETF news this week, with Celestia trading at $19.24 at the time of writing, up 48.2% over the past seven days.

Celestia has maintained a 5.8% gain in the past 24 hours, however, signs of a high-level reversal have emerged, and it is expected that there may be a risk of a pullback adjustment in the short term, and bulls may seek to sell for profits.

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