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$BTC
Bitcoin BTC Price This Week: Negative Indicators and Possible Continuation of Stagnation
It seems that the Bitcoin BTC price may continue to move in a narrow range during this week’s trading, as the latest on-chain data reveals that the Bitcoin Premium indicator on the Coinbase platform has once again fallen below zero.
The decline in this indicator indicates weak US institutional demand, which could lead to a price stagnation or even a downward correction. This comes at a time when Bitcoin ETFs are recording outflows of hundreds of millions of dollars, reflecting the sluggish sentiment of large investors.
Will this weak trend continue or is the market able to regain momentum soon?
Coinbase Premium Below Zero
In a tweet, cryptocurrency analyst Ali Martinez pointed out that the Bitcoin Premium indicator on Coinbase has once again fallen to a critical level in the past few days.
Coinbase Premium is a financial indicator that measures the difference in the price of BTC between Coinbase Pro and Binance, reflecting the behavior of investors, especially US financial institutions.
Bitcoin BTC Price This Week: Negative Indicators and Possible Continuation of Stagnation
It seems that the Bitcoin BTC price may continue to move in a narrow range during this week’s trading, as the latest on-chain data reveals that the Bitcoin Premium indicator on the Coinbase platform has once again fallen below zero.
The decline in this indicator indicates weak US institutional demand, which could lead to a price stagnation or even a downward correction. This comes at a time when Bitcoin ETFs are recording outflows of hundreds of millions of dollars, reflecting the sluggish sentiment of large investors.
Will this weak trend continue or is the market able to regain momentum soon?
Coinbase Premium Below Zero
In a tweet, cryptocurrency analyst Ali Martinez pointed out that the Bitcoin Premium indicator on Coinbase has once again fallen to a critical level in the past few days.
Coinbase Premium is a financial indicator that measures the difference in the price of BTC between Coinbase Pro and Binance, reflecting the behavior of investors, especially US financial institutions.
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$SOL
Awaiting a Massive Solana Unlock Event, Whales Increase Sell Bets Will the Price Collapse
Solana (SOL) is facing increasing downward pressure as major investors intensify their bets on the price to fall, ahead of the anticipated unlock event on March 1, which will see 11.2 million SOL, worth an estimated $2.07 billion, released
The options market on Deribit has seen a brisk trade in Solana SOL, amid a significant increase in bearish bets from major investors
Over the past week, the total volume of Solana SOL block trades reached around $32.39 million, equivalent to about 25% of the total options trades on the platform, which amounted to $130.74 million, according to Amberdata data
This comes amid a significant decline in Solana network activity and a 46% price decline over the past few weeks The past five, raising questions about the market’s ability to absorb this liquidity without further decline
What is the significance of large block trades in Solana SOL options contracts
Options are derivative financial instruments that give the buyer the right (but not the obligation) to buy or sell the underlying asset – in this case SOL at a pre-agreed price, and on a specific date
Large block trades in the options market refer to large transactions conducted between particularly large investors, outside the traditional order book.
Awaiting a Massive Solana Unlock Event, Whales Increase Sell Bets Will the Price Collapse
Solana (SOL) is facing increasing downward pressure as major investors intensify their bets on the price to fall, ahead of the anticipated unlock event on March 1, which will see 11.2 million SOL, worth an estimated $2.07 billion, released
The options market on Deribit has seen a brisk trade in Solana SOL, amid a significant increase in bearish bets from major investors
Over the past week, the total volume of Solana SOL block trades reached around $32.39 million, equivalent to about 25% of the total options trades on the platform, which amounted to $130.74 million, according to Amberdata data
This comes amid a significant decline in Solana network activity and a 46% price decline over the past few weeks The past five, raising questions about the market’s ability to absorb this liquidity without further decline
What is the significance of large block trades in Solana SOL options contracts
Options are derivative financial instruments that give the buyer the right (but not the obligation) to buy or sell the underlying asset – in this case SOL at a pre-agreed price, and on a specific date
Large block trades in the options market refer to large transactions conducted between particularly large investors, outside the traditional order book.
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$XRP
Ripple XRP Price Nears 3-Month Low… Before a Bearish Explosion!
Since early February, a relative balance between buying and selling pressure has kept XRP within a tight price range. It has faced significant resistance at $2.76 and found bullish support at $2.30
However, technical indicators now suggest that this balance could soon tilt in favor of the bears, paving the way for a potential price collapse.
XRP Struggles to Hold as Selling Pressure Mounts
BeInCrypto’s 1-day XRP/USD chart review reveals that the token’s price has been oscillating between $2.76 and $2.30 since February 3. When an asset trades within a range like this, its price moves between a defined support and resistance level without breaking out in either direction, indicating a balance between buying and selling pressure.
However, the increasing bias against XRP suggests a potential breakout of the support at $2.30 in the near term. The increasing sell-off, highlighted by the money flow of XRP (CMF), reflects this. At the time of publication, the indicator is below the zero line at -0.04.
Ripple XRP Price Nears 3-Month Low… Before a Bearish Explosion!
Since early February, a relative balance between buying and selling pressure has kept XRP within a tight price range. It has faced significant resistance at $2.76 and found bullish support at $2.30
However, technical indicators now suggest that this balance could soon tilt in favor of the bears, paving the way for a potential price collapse.
XRP Struggles to Hold as Selling Pressure Mounts
BeInCrypto’s 1-day XRP/USD chart review reveals that the token’s price has been oscillating between $2.76 and $2.30 since February 3. When an asset trades within a range like this, its price moves between a defined support and resistance level without breaking out in either direction, indicating a balance between buying and selling pressure.
However, the increasing bias against XRP suggests a potential breakout of the support at $2.30 in the near term. The increasing sell-off, highlighted by the money flow of XRP (CMF), reflects this. At the time of publication, the indicator is below the zero line at -0.04.
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Broccoli meme coin surges after CZ reveals large holdings of $BNB
After Binance co-founder Changpeng “CZ” Zhao revealed his personal wallet, the price of Broccoli, a meme coin built on BNB, surged by nearly 33%.
Despite the surge in the asset, its altcoin BNB actually fell. This is likely because CZ’s large holdings were public knowledge.
CZ reveals large BNB holdings
Changpeng “CZ” Zhao, the former CEO and co-founder of Binance, has been influencing the market through his wallet holdings. Most recently, he caused a meme coin surge after claiming to have little experience with DEX trading and triggered an influx of Broccoli coins when he revealed the name of its core.
Today, however, CZ has displayed his portfolio holdings, which are over 98% in BNB.
After Binance co-founder Changpeng “CZ” Zhao revealed his personal wallet, the price of Broccoli, a meme coin built on BNB, surged by nearly 33%.
Despite the surge in the asset, its altcoin BNB actually fell. This is likely because CZ’s large holdings were public knowledge.
CZ reveals large BNB holdings
Changpeng “CZ” Zhao, the former CEO and co-founder of Binance, has been influencing the market through his wallet holdings. Most recently, he caused a meme coin surge after claiming to have little experience with DEX trading and triggered an influx of Broccoli coins when he revealed the name of its core.
Today, however, CZ has displayed his portfolio holdings, which are over 98% in BNB.
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$KAITO
KAITO Fails to Reach $2 as Selling Pressure Overwhelms Upside Momentum
KAITO’s recent airdrop surprised many, sparking initial excitement. However, the token is now struggling to maintain user interest – a common problem seen with other airdrops. The altcoin has dropped 7% in the past 24 hours, highlighting short-term selling pressure, but is still up 60% since launch.
Currently, KAITO BBTrend is negative at -10.7, indicating continued bearish momentum, while ADX at 13.49 shows no clear direction. With the price fluctuating between potential support at $1.35 and resistance above $2, KAITO faces a crucial moment to either consolidate gains or continue a downward correction.
KAITO BBTrend Stable, but Negative
Currently, KAITO BBTrend is at -10.7, reflecting a sharp reversal after hitting an all-time high of 10.8 just yesterday.
This dramatic drop represents a shift from strong bullish momentum to negative territory in less than 24 hours, indicating increased selling pressure.
The rapid change suggests that bearish sentiment is taking over, as a BBTrend turn negative often signals the start of a downtrend.
With KAITO BBTrend hovering around -10 and -11 in the past few hours, continued weakness and the potential for a downtrend to continue is highlighted.
KAITO Fails to Reach $2 as Selling Pressure Overwhelms Upside Momentum
KAITO’s recent airdrop surprised many, sparking initial excitement. However, the token is now struggling to maintain user interest – a common problem seen with other airdrops. The altcoin has dropped 7% in the past 24 hours, highlighting short-term selling pressure, but is still up 60% since launch.
Currently, KAITO BBTrend is negative at -10.7, indicating continued bearish momentum, while ADX at 13.49 shows no clear direction. With the price fluctuating between potential support at $1.35 and resistance above $2, KAITO faces a crucial moment to either consolidate gains or continue a downward correction.
KAITO BBTrend Stable, but Negative
Currently, KAITO BBTrend is at -10.7, reflecting a sharp reversal after hitting an all-time high of 10.8 just yesterday.
This dramatic drop represents a shift from strong bullish momentum to negative territory in less than 24 hours, indicating increased selling pressure.
The rapid change suggests that bearish sentiment is taking over, as a BBTrend turn negative often signals the start of a downtrend.
With KAITO BBTrend hovering around -10 and -11 in the past few hours, continued weakness and the potential for a downtrend to continue is highlighted.
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$ETH
Ethereum (ETH) Rebounds with Strong Demand as Whales Target $2,900
Ethereum (ETH) has shown signs of recovery after the sharp decline caused by the Bybit hack, which weighed on its price. Despite this rebound, ETH is still down by around 18% over the past 30 days, reflecting continued volatility.
It is worth noting that ETH’s Relative Strength Index (RSI) has risen to 58.6 from a low of 39.2 during the selloff, indicating renewed buying pressure. This recovery in the RSI suggests that market sentiment is gradually improving, which could pave the way for further price gains if the momentum continues.
ETH’s RSI Recovers from Recent Decline
The RSI for ETH is currently at 58.6, a notable increase from the 39.2 level it reached after the Bybit breakout significantly impacted its price.
The recovery in the RSI reflects the buying momentum that ETH has gained since the sharp decline.
This upward move in the RSI suggests that buying pressure has returned, helping Ethereum’s price stabilize and potentially paving the way for further price gains if the momentum continues.
Ethereum (ETH) Rebounds with Strong Demand as Whales Target $2,900
Ethereum (ETH) has shown signs of recovery after the sharp decline caused by the Bybit hack, which weighed on its price. Despite this rebound, ETH is still down by around 18% over the past 30 days, reflecting continued volatility.
It is worth noting that ETH’s Relative Strength Index (RSI) has risen to 58.6 from a low of 39.2 during the selloff, indicating renewed buying pressure. This recovery in the RSI suggests that market sentiment is gradually improving, which could pave the way for further price gains if the momentum continues.
ETH’s RSI Recovers from Recent Decline
The RSI for ETH is currently at 58.6, a notable increase from the 39.2 level it reached after the Bybit breakout significantly impacted its price.
The recovery in the RSI reflects the buying momentum that ETH has gained since the sharp decline.
This upward move in the RSI suggests that buying pressure has returned, helping Ethereum’s price stabilize and potentially paving the way for further price gains if the momentum continues.
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$BTC
Bitcoin (BTC) Struggles After Bybit Breakout, But Indicators Point To A Rebound
Bitcoin (BTC) has been trading below $100,000 since February 5, facing continued resistance despite attempts to recover. Recent indicators suggest that sellers have taken control, with Bitcoin’s Directional Movement Index (DMI) showing increased downside pressure.
However, the Ichimoku Cloud is pointing to a potential reversal if Bitcoin manages to break key resistance areas. If bullish momentum returns, BTC could test resistance at $97,756 and potentially reclaim the $100,000 level, with $102,668 as the next target.
BTC DMI shows sellers have taken control in the past 24 hours
Bitcoin’s Directional Movement Index (DMI) shows that the Average Directional Index (ADX) is currently at 21.2, having briefly touched 22.9, up from 15.5 two days ago.
The ADX measures the strength of a trend without indicating its direction, and ranges from 0 to 100. Typically, values above 25 indicate a strong trend, while values below 20 indicate a weak or ranging market.
With the ADX hovering around 21.2, Bitcoin’s trend is relatively weak, indicating a potential transition period.
This suggests that the previous bullish momentum is losing steam, which could lead to a reversal or the start of a downtrend.
Bitcoin (BTC) Struggles After Bybit Breakout, But Indicators Point To A Rebound
Bitcoin (BTC) has been trading below $100,000 since February 5, facing continued resistance despite attempts to recover. Recent indicators suggest that sellers have taken control, with Bitcoin’s Directional Movement Index (DMI) showing increased downside pressure.
However, the Ichimoku Cloud is pointing to a potential reversal if Bitcoin manages to break key resistance areas. If bullish momentum returns, BTC could test resistance at $97,756 and potentially reclaim the $100,000 level, with $102,668 as the next target.
BTC DMI shows sellers have taken control in the past 24 hours
Bitcoin’s Directional Movement Index (DMI) shows that the Average Directional Index (ADX) is currently at 21.2, having briefly touched 22.9, up from 15.5 two days ago.
The ADX measures the strength of a trend without indicating its direction, and ranges from 0 to 100. Typically, values above 25 indicate a strong trend, while values below 20 indicate a weak or ranging market.
With the ADX hovering around 21.2, Bitcoin’s trend is relatively weak, indicating a potential transition period.
This suggests that the previous bullish momentum is losing steam, which could lead to a reversal or the start of a downtrend.
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#VIRTUALWhale
Story (IP) Rises to Top 10 AI Coins, Overtakes VIRTUAL
Story (IP) is experiencing a massive surge, surging nearly 40% in the past 24 hours. This pushes its market cap to around $680 million and places it among the top 10 AI coins. This strong surge has been fueled by increased buying pressure, with indicators like ADX and CMF confirming the strength of the uptrend.
Story’s technical setup suggests that momentum is accelerating, with the EMA structure consolidating the ongoing upward movement. If this trend continues, Story could soon test 3$ or higher, but if the momentum fades, it risks a sharp correction towards 2,16$ or lower.
ADX Story Shows Current Uptrend Is Very Strong
Story’s ADX is on the rise, currently at 55.1, up sharply from 34.2 just a day ago. This rapid rise indicates that the strength of Story’s trend is increasing at an unprecedented pace.
The ADX (Average Directional Index) does not determine whether a trend is bullish or bearish but rather measures the strength of the current move.
With Story (IP) already in an uptrend and at an all-time high, this rise in ADX suggests that momentum is accelerating rather than slowing down, boosting the potential for additional gains.
Story (IP) Rises to Top 10 AI Coins, Overtakes VIRTUAL
Story (IP) is experiencing a massive surge, surging nearly 40% in the past 24 hours. This pushes its market cap to around $680 million and places it among the top 10 AI coins. This strong surge has been fueled by increased buying pressure, with indicators like ADX and CMF confirming the strength of the uptrend.
Story’s technical setup suggests that momentum is accelerating, with the EMA structure consolidating the ongoing upward movement. If this trend continues, Story could soon test 3$ or higher, but if the momentum fades, it risks a sharp correction towards 2,16$ or lower.
ADX Story Shows Current Uptrend Is Very Strong
Story’s ADX is on the rise, currently at 55.1, up sharply from 34.2 just a day ago. This rapid rise indicates that the strength of Story’s trend is increasing at an unprecedented pace.
The ADX (Average Directional Index) does not determine whether a trend is bullish or bearish but rather measures the strength of the current move.
With Story (IP) already in an uptrend and at an all-time high, this rise in ADX suggests that momentum is accelerating rather than slowing down, boosting the potential for additional gains.
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$ETH
Ethereum (ETH) drops 5% after $1.5 billion Bybit hack: What’s next?
The Bybit hack rocked the market today, with over $1.46 billion worth of Ethereum stolen, marking one of the largest security breaches in history. As the stolen assets were liquidated, the price of Ethereum fell 5% in a straight line, impacting key technical indicators.
Speculation is mounting about Bybit’s next steps, with some suggesting a potential market buyback to compensate users, which could create significant buying pressure. However, it remains uncertain how the Ethereum price will behave in the coming days as the situation continues to evolve.
Will the Bybit hack trigger a massive buyback?
Earlier today, one of the largest cryptocurrency exchanges, Bybit, was hacked. Over $1.46 billion worth of Ethereum was stolen from its hot wallets, marking one of the largest security breaches in cryptocurrency history.
CEO Ben Zhou confirmed that the attackers tricked Bybit’s security system, causing wallet signers to unknowingly approve changes to smart contract logic, giving the hacker control.
The stolen Ethereum is being liquidated, causing the price of Ethereum to drop by more than 4%. After the assets were stolen, the hacker’s addresses began sending funds to dozens of different wallets.
Ethereum (ETH) drops 5% after $1.5 billion Bybit hack: What’s next?
The Bybit hack rocked the market today, with over $1.46 billion worth of Ethereum stolen, marking one of the largest security breaches in history. As the stolen assets were liquidated, the price of Ethereum fell 5% in a straight line, impacting key technical indicators.
Speculation is mounting about Bybit’s next steps, with some suggesting a potential market buyback to compensate users, which could create significant buying pressure. However, it remains uncertain how the Ethereum price will behave in the coming days as the situation continues to evolve.
Will the Bybit hack trigger a massive buyback?
Earlier today, one of the largest cryptocurrency exchanges, Bybit, was hacked. Over $1.46 billion worth of Ethereum was stolen from its hot wallets, marking one of the largest security breaches in cryptocurrency history.
CEO Ben Zhou confirmed that the attackers tricked Bybit’s security system, causing wallet signers to unknowingly approve changes to smart contract logic, giving the hacker control.
The stolen Ethereum is being liquidated, causing the price of Ethereum to drop by more than 4%. After the assets were stolen, the hacker’s addresses began sending funds to dozens of different wallets.
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#LitecoinETF
Litecoin ETF Approval Odds Surge to 85% After Canary Capital Lists on DTCC
The odds of a Litecoin ETF (ETF) approval on Polymarket have risen to 85% today, after Canary Capital’s proposed Litecoin spot fund was securely listed on the Depository and Clearing Corporation (DTCC) system.
This marks a major development in the US race for more altcoin ETF approvals. The first, an Ethereum fund, was approved by the US Securities and Exchange Commission (SEC) in May 2024.
Canary Capital’s Litecoin ETF Lists on DTCC
The odds of a Litecoin ETF being approved on Polymarket have increased by 35% since Thursday, to 85% on Friday. This comes after Canary Capital’s application was listed on the DTCC system under the ticker LTCC.
“Canary Capital’s Litecoin ETF Listed on the Depository and Clearing Corporation System under the ticker LTCC! “DTCC is an essential part of the global financial markets and processes trillions of dollars in securities transactions every day,” the Litecoin Foundation shared on Twitter.
Litecoin ETF Approval Odds Surge to 85% After Canary Capital Lists on DTCC
The odds of a Litecoin ETF (ETF) approval on Polymarket have risen to 85% today, after Canary Capital’s proposed Litecoin spot fund was securely listed on the Depository and Clearing Corporation (DTCC) system.
This marks a major development in the US race for more altcoin ETF approvals. The first, an Ethereum fund, was approved by the US Securities and Exchange Commission (SEC) in May 2024.
Canary Capital’s Litecoin ETF Lists on DTCC
The odds of a Litecoin ETF being approved on Polymarket have increased by 35% since Thursday, to 85% on Friday. This comes after Canary Capital’s application was listed on the DTCC system under the ticker LTCC.
“Canary Capital’s Litecoin ETF Listed on the Depository and Clearing Corporation System under the ticker LTCC! “DTCC is an essential part of the global financial markets and processes trillions of dollars in securities transactions every day,” the Litecoin Foundation shared on Twitter.
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Rumors of developers selling $BNX token contribute to reducing its price by more than half
The BinaryX platform saw its BNX coin drop by more than half during the past day after rumors spread that developers were selling the cryptocurrency.
Some news within the crypto community reported that 4 million BNX coins were sold on the Binance platform, and one trader asked the team of the company that runs the digital currency to answer inquiries related to certain transactions.
BNX community doubts about developers selling the coin
This caused a state of turmoil within the crypto community, especially the BinaryX community, as some reported that the sale was done by the coin’s developers.
According to expert Elie via the Tradingview platform, there is a profit of more than 900%, while the trader 0xRajee mentioned large profits resulting from the uncovered sale of the digital currency.
#PriceTrendAnalysis
The BinaryX platform saw its BNX coin drop by more than half during the past day after rumors spread that developers were selling the cryptocurrency.
Some news within the crypto community reported that 4 million BNX coins were sold on the Binance platform, and one trader asked the team of the company that runs the digital currency to answer inquiries related to certain transactions.
BNX community doubts about developers selling the coin
This caused a state of turmoil within the crypto community, especially the BinaryX community, as some reported that the sale was done by the coin’s developers.
According to expert Elie via the Tradingview platform, there is a profit of more than 900%, while the trader 0xRajee mentioned large profits resulting from the uncovered sale of the digital currency.
#PriceTrendAnalysis
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Bitcoin Price $$BTC Moving in a Tight Range… Are We Seeing a Breakout Soon?
Bitcoin (BTC) is still trading in a tight price range after a slight bounce in recent days. After a sudden drop, the leading cryptocurrency regained some of its upward momentum to rise from $93,300 to $98,200.
Meanwhile, US-based Bitcoin spot ETFs have recorded three consecutive days of outflows, with losses of around $500 million through February 20.
According to SoSoValue data, these outflows began on February 18 with losses of $61.4 million, then increased to $71.07 million on February 19, and peaked at $364.93 million on February 20.
#ActiveUserImpact
Bitcoin (BTC) is still trading in a tight price range after a slight bounce in recent days. After a sudden drop, the leading cryptocurrency regained some of its upward momentum to rise from $93,300 to $98,200.
Meanwhile, US-based Bitcoin spot ETFs have recorded three consecutive days of outflows, with losses of around $500 million through February 20.
According to SoSoValue data, these outflows began on February 18 with losses of $61.4 million, then increased to $71.07 million on February 19, and peaked at $364.93 million on February 20.
#ActiveUserImpact
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Cardano $ADA Steady, but Market Liquidity Tells a Different Story
The relative balance between buying and selling pressure in the Cardano market has kept the coin’s price in a tight range since early February.
However, some key momentum indicators for ADA suggest that the tide may be shifting in favor of bulls as liquidity begins to flow into the market. This suggests a potential bullish breakout in the near term.
Cardano Price Stalls, but Smart Money Continues to Accumulate
Since early February, the price of ADA has been hovering within a tight range. It faced resistance at $0.82 and found support at $0.73. However, this trend may be changing.
Readings from two key momentum indicators are showing increased liquidity and increasing accumulation, suggesting that ADA buyers are gradually entering the market.
#TokenMovementSignals
The relative balance between buying and selling pressure in the Cardano market has kept the coin’s price in a tight range since early February.
However, some key momentum indicators for ADA suggest that the tide may be shifting in favor of bulls as liquidity begins to flow into the market. This suggests a potential bullish breakout in the near term.
Cardano Price Stalls, but Smart Money Continues to Accumulate
Since early February, the price of ADA has been hovering within a tight range. It faced resistance at $0.82 and found support at $0.73. However, this trend may be changing.
Readings from two key momentum indicators are showing increased liquidity and increasing accumulation, suggesting that ADA buyers are gradually entering the market.
#TokenMovementSignals
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#MarketSentimentWatch
Buyers Pull Back on Solana (SOL) as Coin Drops Below Key Support
Solana price has fallen sharply since hitting an all-time high of $295.83 on January 18. At press time, SOL is trading at $171.81, down 41% since then.
The altcoin, which has been trading within an ascending parallel channel since 2023, is now trading below the channel’s lower line. This signals a decisive shift in market sentiment and suggests further price declines.
Bears Take Control as Solana Breaks Its Years-Old Channel
Solana has been trading within an ascending parallel channel since June 2023 and has now broken below it for the first time in the past year.
Buyers Pull Back on Solana (SOL) as Coin Drops Below Key Support
Solana price has fallen sharply since hitting an all-time high of $295.83 on January 18. At press time, SOL is trading at $171.81, down 41% since then.
The altcoin, which has been trading within an ascending parallel channel since 2023, is now trading below the channel’s lower line. This signals a decisive shift in market sentiment and suggests further price declines.
Bears Take Control as Solana Breaks Its Years-Old Channel
Solana has been trading within an ascending parallel channel since June 2023 and has now broken below it for the first time in the past year.
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CryptoQuant CEO Announces Alt Season Amid Liquidity Struggle, But There’s a Catch
The long-awaited alt season has arrived, according to CryptoQuant CEO Ki-Young Joo.
However, the analyst says this season follows a different set of rules, unlike previous cycles that were driven by clear capital rotations from Bitcoin to altcoins.
Analyst Predicts Alt Season — But Not as Expected
Joo’s latest observations suggest that stablecoin holders, not Bitcoin traders, are fueling selective altcoin gains as market liquidity remains tight.
In a recent post on X (formerly Twitter), Joo announced that alt season has begun, noting a sharp increase in altcoin trading volumes. According to the analyst, altcoin trading volumes are now 2.7x that of Bitcoin. However, Joo also noted that this is not a broad-based rally.
“It’s a very selective alt season… Only a few coins are going up. “With no new liquidity, it feels like a PvP battle over a fixed pie,” he wrote.
#WalletActivityInsights
The long-awaited alt season has arrived, according to CryptoQuant CEO Ki-Young Joo.
However, the analyst says this season follows a different set of rules, unlike previous cycles that were driven by clear capital rotations from Bitcoin to altcoins.
Analyst Predicts Alt Season — But Not as Expected
Joo’s latest observations suggest that stablecoin holders, not Bitcoin traders, are fueling selective altcoin gains as market liquidity remains tight.
In a recent post on X (formerly Twitter), Joo announced that alt season has begun, noting a sharp increase in altcoin trading volumes. According to the analyst, altcoin trading volumes are now 2.7x that of Bitcoin. However, Joo also noted that this is not a broad-based rally.
“It’s a very selective alt season… Only a few coins are going up. “With no new liquidity, it feels like a PvP battle over a fixed pie,” he wrote.
#WalletActivityInsights
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SEC Faces 240-Day Countdown to Decision on XRP ETF Following Key Filings
The Securities and Exchange Commission (SEC) now has a fixed 240-day deadline to issue a decision on an XRP exchange-traded fund (ETF).
This comes after the 19b-4 filings for two XRP-based investment products — Grayscale XRP Trust and 21Shares Core XRP Trust — were published in the Federal Register.
Deadline for XRP ETF Set
On February 20, NYSE Arca’s 19b-4 filing to list and trade shares of Grayscale XRP Trust was published in the Federal Register. Fox Business reporter Eleanor Terrett highlighted the development on X.
“All of this means the clock is now ticking for the SEC to react with either approval or disapproval on or before October 18,” Terrett wrote.
#GasFeeImpact
The Securities and Exchange Commission (SEC) now has a fixed 240-day deadline to issue a decision on an XRP exchange-traded fund (ETF).
This comes after the 19b-4 filings for two XRP-based investment products — Grayscale XRP Trust and 21Shares Core XRP Trust — were published in the Federal Register.
Deadline for XRP ETF Set
On February 20, NYSE Arca’s 19b-4 filing to list and trade shares of Grayscale XRP Trust was published in the Federal Register. Fox Business reporter Eleanor Terrett highlighted the development on X.
“All of this means the clock is now ticking for the SEC to react with either approval or disapproval on or before October 18,” Terrett wrote.
#GasFeeImpact
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$LTC
Litecoin ETF Approval Odds Surge to 85% After Canary Capital Lists on DTCC
The odds of a Litecoin ETF (ETF) approval on Polymarket have risen to 85% today, after Canary Capital’s proposed Litecoin spot fund was securely listed on the Depository and Clearing Corporation (DTCC) system.
This marks a major development in the US race for more altcoin ETF approvals. The first, an Ethereum fund, was approved by the US Securities and Exchange Commission (SEC) in May 2024.
Canary Capital’s Litecoin ETF Lists on DTCC
The odds of a Litecoin ETF being approved on Polymarket have increased by 35% since Thursday, to 85% on Friday. This comes after Canary Capital’s application was listed on the DTCC system under the ticker LTCC.
“Canary Capital’s Litecoin ETF Lists on the Depository and Clearing Corporation System under the ticker LTCC! “DTCC is an essential part of the global financial markets and processes trillions of dollars in securities transactions every day,” the Litecoin Foundation shared on Twitter.
Litecoin ETF Approval Odds Surge to 85% After Canary Capital Lists on DTCC
The odds of a Litecoin ETF (ETF) approval on Polymarket have risen to 85% today, after Canary Capital’s proposed Litecoin spot fund was securely listed on the Depository and Clearing Corporation (DTCC) system.
This marks a major development in the US race for more altcoin ETF approvals. The first, an Ethereum fund, was approved by the US Securities and Exchange Commission (SEC) in May 2024.
Canary Capital’s Litecoin ETF Lists on DTCC
The odds of a Litecoin ETF being approved on Polymarket have increased by 35% since Thursday, to 85% on Friday. This comes after Canary Capital’s application was listed on the DTCC system under the ticker LTCC.
“Canary Capital’s Litecoin ETF Lists on the Depository and Clearing Corporation System under the ticker LTCC! “DTCC is an essential part of the global financial markets and processes trillions of dollars in securities transactions every day,” the Litecoin Foundation shared on Twitter.
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IP Story Leaves AI Cryptocurrencies in the Dust with 189% Uptick
IP’s price is up 189% a week after its launch, outperforming the top 10 AI-based tokens.
The momentum shows no signs of slowing down. With a 50% gain in the past 24 hours, IP is currently the top performing asset in the crypto market. With demand for the altcoin on the rise, IP is expected to continue its rally in the short term.
Bulls in Control of the Market
The token’s Moving Average Convergence Divergence (MACD) indicator setup confirms this bullish outlook. As of writing, IP’s MACD line (blue) is above its signal line (orange).
#OnChainInsights
IP’s price is up 189% a week after its launch, outperforming the top 10 AI-based tokens.
The momentum shows no signs of slowing down. With a 50% gain in the past 24 hours, IP is currently the top performing asset in the crypto market. With demand for the altcoin on the rise, IP is expected to continue its rally in the short term.
Bulls in Control of the Market
The token’s Moving Average Convergence Divergence (MACD) indicator setup confirms this bullish outlook. As of writing, IP’s MACD line (blue) is above its signal line (orange).
#OnChainInsights
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$ETH
Ethereum Buy/Sell Ratio Increases Despite ETH’s Sideways Move
Ethereum (ETH) has been trading in a tight range since early February, oscillating between key support and resistance levels.
However, despite this sideways price action, futures traders remain resilient as they continue to open long positions, indicating confidence in ETH’s potential to rise.
Ethereum Futures Market Shows Resilience
Readings from the daily ETH/USD chart reveal that the leading altcoin has been trading within a horizontal channel since the beginning of the month, facing resistance at $2,799 and finding support at $2,585. Despite this, futures traders have maintained their bullish stance and increased their buy orders.
A key indicator of this bullish sentiment is Ethereum’s buy/sell ratio, which has risen to its highest point since early January. According to CryptoQuant, it is at 1.09 at press time.
Ethereum Buy/Sell Ratio Increases Despite ETH’s Sideways Move
Ethereum (ETH) has been trading in a tight range since early February, oscillating between key support and resistance levels.
However, despite this sideways price action, futures traders remain resilient as they continue to open long positions, indicating confidence in ETH’s potential to rise.
Ethereum Futures Market Shows Resilience
Readings from the daily ETH/USD chart reveal that the leading altcoin has been trading within a horizontal channel since the beginning of the month, facing resistance at $2,799 and finding support at $2,585. Despite this, futures traders have maintained their bullish stance and increased their buy orders.
A key indicator of this bullish sentiment is Ethereum’s buy/sell ratio, which has risen to its highest point since early January. According to CryptoQuant, it is at 1.09 at press time.
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