DeFI News by Thebittimes.Com

Cryptocurrency trader Ali Martinez is leaning bullish on Bitcoin (BTC) while offering his forecast for Ethereum (ETH) and Dogecoin (DOGE). Martinez tells his 91,300 followers on the social media platform X that online searches for the keyword “Bitcoin” are in the bottom 50th percentile, suggesting low interest relative to the levels usually experienced at the height of bull markets. “Investor sentiment remains subdued, far from euphoric—indicating Bitcoin may still have significant room to grow before reaching a market top.” Source: Ali Martinez/X Bitcoin is trading at $97,450 at time of writing. Next up is Ethereum. Martinez says that Ethereum could rally by around 67% from its current level over the medium term. Over the long term, the he says the top altcoin could go up by nearly 180% over the coming weeks, eclipsing its all-time high of around $4,900 reached in November of 2021. Based on Martinez’s chart, it appears that Ethereum is ...

A trader who continues to grow his following with timely crypto calls is outlining a potential price path for Dogecoin’s (DOGE) rally to fresh all-time highs. Pseudonymous analyst Bluntz tells his 292,900 followers on the social media platform X that Dogecoin looks poised for a new wave of upside bursts after printing a local bottom at around $0.339. The trader shares a chart suggesting that DOGE could explode to a new all-time high of $0.85 before ending its five-wave surge. “Nothing changed, we just had a nice 23% low time frame dip I’m counting as a wave four within a monster extended wave three impulse. Once the next DOGE leg-up start, it will probably start to suck liquidity out of smaller memes again. The only reason they went so hard this week was because DOGE has been chilling for five days in my opinion. I think this week will be a DOGE week.”  Source: Bluntz/X Bluntz practices the Elliott Wave theory, a technical Analysis app...

A veteran trader known for timely crypto calls says he’s bullish on one Solana (SOL) rival now that it’s showing significant strength. Pseudonymous trader The Flow Horse tells his Telegram channel that he’s “default bullish” on the native asset of the layer-one blockchain Sei (SEI) following its clearance of a multi-month resistance around the $0.40 level. “It’s the weekend so just like trading volumes my posting volumes will be lower, but take a look at SEI – I simply must be default bullish biased on things like this. Summer range broken, retesting, I will just add until proven otherwise. The invalidation is close and this is a key inflection point.” Source: The Stable/Telegram Since the trader’s post, SEI has poked above the $0.50 before correcting. At time of writing, SEI is worth $0.469, up over 4% in the past day. While the altcoin market has been performing well with most crypto assets up in the last ...

A popular analyst says he’s feeling bullish on crypto for the end of this year and is updating his outlook on Ethereum (ETH) and Solana (SOL). The pseudonymous trader known as Altcoin Sherpa tells his 222,400 followers on the social media platform X that he’s expecting a “full send” phase for crypto around December or perhaps early next year. “Personally I’m bullish going into late Q4 but until that time, I honestly have no idea. Still expecting some chop for Sept/October and then some fakeouts in November. Full send by December/January 2024 though.” Looking at Ethereum, the trader doesn’t yet see any immediate reason to flip bullish on ETH. But, he notes that the price has recently been correcting into a high-volume area, suggesting that ETH is sitting on strong support. “ETH the only good thing I see about this chart is that price is about to hit a high volume node around the $2,200 – $2,400 level. Ev...

A cryptocurrency trader and analyst is issuing a warning on the potential price performance of altcoins in the current cycle. The analyst pseudonymously known as Sherpa tells his 11,399 YouTube subscribers that altcoins might perform poorly during the current cycle relative to other cycles and periods. “Your altcoin might not do crazy multiples like it did earlier this year. It might not go to an all-time high like it did in 2021 and your altcoin might simply have already topped for the cycle.” The pseudonymous analyst further says, “I think that you have to be realistic with your overall targets and you can’t assume that just because Bitcoin is going to go really strongly it means that your altcoin is going to go to former all-time highs. Because the market, as I said, the dynamic has changed quite a bit. It’s very different, it’s not similar at all to what the market was like in 2021. And just because there’s flows in one co...

The cryptocurrency market remains volatile, heavily influenced by broader economic factors. Recent U.S. job growth data exceeded expectations, indicating the economy is coping well with higher interest rates.  This reduces the likelihood of rate cuts, which impacts the flow of money into riskier investments like cryptocurrencies. A crypto trader has made quite a fortune on meme coins following the decline and rebound of the wider market.  Picks for you ChatGPT-4o predicts Bitcoin price ahead of June's FOMC meeting 24 mins ago Breakout watch: Cardano key support and resistance levels for this week 2 hours ago Here's BTC's supp...

A guilty verdict has been reached in the long-awaited Hush Money trial, with former U.S. President Donald Trump found guilty on all 34 felony counts by a unanimous decision from 12 jurors in New York, with sentencing set for July 11.  However, for one crypto trader, there is a silver lining in this verdict, as he managed to earn over $167,000 with well-placed trades involving Trump-related tokens, FreeTrump (FREE), and Never Surrender (TRUMP) created shortly after the guilty verdict was reached. How did the trade unfold? Using a strategic approach, the trader capitalized on the volatility of Trump-themed tokens, specifically FreeTrump and Never Surrender.  In just five hours, the cryptocurrency trader converted them into approximately 972 Solana (SOL) tokens, equivalent to $167,000. Picks for you Beware of celebrity tokens : C...

Bitcoin is setting up for another trip past $35,000, analysis argues as BTC price settles into the weekend. Bitcoin (BTC) sought to pressure $35,000 on Nov. 4 as weekend markets continued to consolidate higher. BTC/USD 1-hour chart. Source: TradingView "Significant" event sets up BTC price upside Data from Cointelegraph Markets Pro and TradingView showed BTC price support holding after the end of Wall Street trading. The largest cryptocurrency saw a revisit of intraday lows the day prior, but $34,000 successfully passed the test as a short-term BTC price floor. #Bitcoin has been above $34k for 11 days now. Healthy accumulation zone. — James V. Straten (@jimmyvs24) November 4, 2023 After nearly hitting $36,000 during the week, Bitcoin was still a favorite for trader s eyeing potential upside continuation. In his latest video update on the day, popular trader Credible Crypto suggested that a trip past $35,000 was the logical next step. Uploading Elliott Wave Analysis to X...

Demand for leverage buying remains absent in ETH despite the recent bounce to $1,200 as the U.S. Federal Reserve continues to hike interest rates. Ether (ETH) gained 5.6% on Dec. 20 after testing the $1,150 support the previous day. Still, a bearish trend prevails, forming a three-week-long descending channel, a price action attributed to expectations of further U.S. Federal Reserve interest rate hikes. Ether/USD price index, 12-hour. Source: TradingView Jim Bianco, head of institutional research firm Bianco Research, said on Dec. 20 that the Fed will keep the economy tightening in 2023. Later that day, Japan’s central bank increased interest rates to fight inflation, far later than its counterparties. The unexpected move made analysts more bearish toward risk assets, including cryptocurrencies. Ethereum might have caught some tailwind after the global payment processor Visa proposed a solution to allow automatic funding from Ethereum wallets. Auto-payments for recurring bills aren’t ...