DeFi (Decentralized Finance) could flourish in the coming months!
The market share (dominance) of the DeFi sector has recently reached a critical level and has reacted positively from there. This suggests that dip levels may have formed in DeFi altcoins.
In the last post, particular attention was drawn to the following projects: LINK, HBAR, AVAX, OM, UNI, AAVE, DEXE, JUP, ENA, and MKR. These altcoins stand out as strong names with potential in the DeFi space.
Additionally, Bitcoin's market pressure (dominance) has started to retreat. This may open up room for an increase in the DeFi sector.
In summary: As Bitcoin pulls back a bit, a strong movement in DeFi coins may be ignited. This sector could become a focal point of interest again in the coming months.
“Are you ready if Bitcoin drops below 70 thousand dollars again?” This scenario may sound crazy, but it's not impossible in the crypto world. There are still a lot of open 'long' positions (investments expecting a price increase) in the market right now. Additionally, Bitcoin has not yet touched the 'True Market Mean Price' level, as it has in past cycles.
So, a price drop is still on the table. Personally, I hope for the continuation of the upward trend and the start of a new altcoin season. However, as I mentioned before, the 105 thousand dollar level (Alpha Price) and the period between May and July are generally times when the price pauses or retracts—unless, of course, a different exception occurs this time.
Will Bitcoin drop below 70 thousand by October and then climb back up to create a peak? We will see this together.
To be honest; Bitcoin dropping again might actually be good. Because in this case, many people will think that 109 thousand dollars is the peak... and then the price could suddenly shoot above 140 thousand dollars.
When the price of Bitcoin dropped to 74 thousand dollars, more than 5 million Bitcoins held by investors were in a loss situation. This means that these Bitcoins were worth less than the price at which they were purchased. However, thanks to the recent recovery, now only about 1.9 million Bitcoins are seen as being in loss. This means that more than 3 million Bitcoins have returned to profit. This development indicates that confidence in the market has increased and many investors' positions have improved.
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Coinglass data reported that in the last 24 hours, the cryptocurrency market had a total of $518 million in Liq, $306 million of which was long and $212 million was short.
The total portion of $BTC compensation was $127 million and the total $ETH compensation was $88 million.
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