Bitcoin (BTC) price had a strong start into the week, rising to multi-month highs following a spike in institutional flows led by MicroStrategy, meanwhile fears of rising inflation continued to draw in more capital. Bitcoin Market Movers: MicroStrategy and Metaplanet Accumulate BTC MicroStrategy made headlines by adding $764.9 million worth of BTC to its treasury, right after a class action lawsuit was filed accusing the firm of breaching federal securities laws. Source: PomerantzLLP Japanese investment firm Metaplanet also acquired $104.8 million in Bitcoin which brought its total holdings close to the $1 billion mark. The two transactions by MicroStrategy and Metaplanet likely had the largest impact on the asset’s surge to $107,148. Investors See Bitcoin as a Hedge Against Rising Inflation Apparently, investors are hellbent on using Bitcoin as a hedge amid a growing concern of inflation and the potential of hawkish monetary policies. In their latest earnings call, Walmart… Read More at Coingape.com
In the times when Bitcoin price is struggling to rise above $95,000, Avalanche price flashes huge potential of a bullish continuation. The token has been forming consecutive lower highs and lows after the rejection from the pivotal range at $22. In a wider perspective, the bears seem to have held a strong grip over the rally, but the AVAX price is flashing a hidden bullish divergence that may clear the path above the local threshold.
The AVAX price underwent its second successful rejection from the neckline zone, which has flashed a huge opportunity to take short positions. With the markets bleeding, there is a huge possibility that the price could take a dip towards the lower target that could complete a massive double top pattern, which could further harm the AVAX price rally in the long term. Meanwhile, the technicals do not seem to be in favor of a massive pullback, while a tight accumulation could prevail for some time.
The bears have restricted the rally below $22 since the major pullback in March, which seems to have drained the strength of the bulls. Besides, the Bollinger bands have begun to squeeze as the volume drops, hinting towards a drop in the volatility. Meanwhile, the CMF or the Chaikin Money Flow, has triggered a bullish rebound from the levels not visited since July 2024. Each time the weekly CMF rebounds from the lows below -0.15, a huge upswing follows with nearly a 200% price rise.
Hence, the AVAX price could trigger a strong rebound if the levels close above $20 and sustain for a day or two. With this, a rise above $22 could be validated that may further push the price above $25 and validate a rise above the bearish captivity. Failing to do so may keep the Avalanche price consolidated below $22 until a huge bullish volume creates massive buying pressure over the crypto.
The post Avalanche (AVAX) Price Rebounding from the Buy Zone: Is a 40% Upswing on the Horizon? appeared first on Coinpedia Fintech News
In the times when Bitcoin price is struggling to rise above $95,000, Avalanche price flashes huge potential of a bullish continuation. The token has been forming consecutive lower highs and lows after the rejection from the pivotal range at $22. In a wider perspective, the bears seem to have held a strong grip over the …
Saros, the Solana-based altcoin, has been on an impressive uptrend over the past month. The token’s price has formed new all-time highs (ATHs) nearly every day throughout March.
However, with the momentum showing signs of slowing, investors are wondering if this rally is nearing its end.
SAROS Refrains From Following Bitcoin
The correlation between Saros and Bitcoin (BTC) is currently negative, sitting at -0.43. This negative correlation has worked in Saros’ favor, as it allowed the altcoin to perform well during Bitcoin’s struggles throughout March. While Bitcoin faced significant declines, Saros was able to rally largely due to this inverse relationship.
The shifting dynamics between Bitcoin and Saros will be key to the future price movement of the altcoin. Should Bitcoin regain its upward momentum, Saros may face increased selling pressure. This is because the negative correlation that has benefited Saros may reverse, impacting the altcoin’s ability to maintain its upward trajectory.
The overall macro momentum of Saros shows that investor interest has remained strong. The Chaikin Money Flow (CMF) indicator has been increasing steadily over the past month, signaling consistent inflows.
Recently, it crossed the saturation threshold of 0.7, a level that has historically led to price corrections. This suggests that while Saros has experienced significant gains, the market may be nearing an overbought condition. If profit-taking begins, a price pullback is highly probable for the altcoin.
Saros has surged by an astounding 1,024% since the beginning of March, trading at $0.153 as of now. Throughout March, the altcoin has formed new ATHs almost daily, reflecting strong investor sentiment and demand.
The current ATH stands at $0.163, and the momentum could continue pushing the price upwards, potentially reaching $0.200 if the uptrend remains intact. However, as the price continues to rise, the risk of profit-taking increases.
If Saros faces such a pullback, it could fall back towards the $0.100 support level. If the altcoin loses this key support, the price could drop further to $0.055, invalidating the bullish outlook. Investors should keep an eye on these levels as they will help determine whether the current rally is sustainable.
The White House has reportedly pushed back on a move by both Republican and Democratic representatives to include a provision in the CLARITY Act that will address Donald Trump’s ties to the crypto industry. This comes just days after the crypto bill passed the Committee markup phase. White House Rejects Bipartisan Provision In CLARITY Act
