Daan Crypto Trades

Altcoin ‘euphoria’ phase begins once market cap jumps 16% — Trader

December 29, 2024 Coin Telegraph

A crypto trader says the altcoin total market cap needs to rise around 16% before “euphoria” sets in, and until then, the market could remain "choppy."

The altcoin total market capitalization must increase around 16% from its current level before the euphoric altcoin season begins; until then, volatility will continue, according to a crypto trader.

Pseudonymous crypto trader Daan Crypto Trades said in a Dec. 28 X post that the “euphoria” or “mania” phase should start once the TOTAL3 — the total market cap of all cryptocurrencies excluding Bitcoin (BTC) and Ether (ETH) — surpasses its 2021 all-time high of $1.13 trillion and enters price discovery.

The TOTAL3 is currently $962.78 billion at the time of publication, according to TradingView data. It has increased approximately 91.45% since Jan. 1.

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Majority of altcoins may see a ‘slow bleed’ until late January 2025: VC

December 11, 2024 Coin Telegraph

Coin Telegraph

Crypto commentators say there is “not much alpha in chasing alts” right now, but are eyeing the possibility of Bitcoin retesting $99,000.

The majority of altcoins may continue to see a downtrend potentially until the end of January 2025, says Felix Hartmann, founder of venture capital firm Hartmann Capital.

“Some alts may continue running briefly, but the majority are likely to slow bleed or consolidate for 2–6 weeks,” Hartmann said in a Dec. 10 X post. “Not much alpha in chasing alts here, [in my opinion], as many just topped after 2–3x moves in a week.”

“While I expected slightly lower levels on some alts, perfect is the enemy of good; hence, it seems like an okay time to bring long bias back,” Hartmann said.

SOL rebounds above $200, Aave deposits hit $33.4B record: Finance Redefined

Bitcoin whale transactions see ‘noticeable’ drop since March price peak

September 12, 2024 Coin Telegraph

Ajeet Khurana

Blockchain analytics firm Santiment says a decline in Bitcoin whale activity is not necessarily a bearish sign.

Bitcoin whales have dialed back their activity since the cryptocurrency hit a new high in March and are now biding their time for the next major buying or selling opportunity, recent data suggests.

“Cryptocurrency’s whale transactions have seen a noticeable drop-off since mid-August,” blockchain analytics platform Santiment wrote in a Sept. 11 X post.

Santiment noted that Bitcoin (BTC) weekly transactions of $100,000 or more had dropped 33.6% since March 13 — the day of Bitcoin’s $73,679 all-time high.

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Bitcoin traders brush off September blues, say closing price may ‘surprise the bears’

September 6, 2024 Coin Telegraph

Coin Telegraph

Tyr Capital’s chief investment officer thinks Bitcoin is more likely to finish September above $60,000 than below.

Some Bitcoin traders seem to be brushing off concerns about the usual September dump, even though history suggests otherwise, and the macro environment could be a strong enough factor to challenge the ongoing narrative.

“Although September is historically a negative month for BTC, the combination of a Fed [United States Federal Reserve] rate cut and a relatively robust US economy could surprise the bears,” Tyr Capital chief investment officer Ed Hindi told Cointelegraph.

“We believe the chances of BTC settling above $60,000 to be higher than the chances of it settling below it,” Hindi added.

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US Fed rate cut could push Bitcoin down 20% — Analysts

September 4, 2024 Coin Telegraph

bitfinex

Bitfinex says it’s a “challenging time” for Bitcoin traders as the US Fed’s widely expected rate cut could lead to a drop in Bitcoin’s price and not a boost as hoped by the market.

A long-awaited United States Federal Reserve interest rate cut could push the price of Bitcoin down — the opposite direction of many market participants’ expectations — and possibly cause it to dive to levels not seen since February, analysts say.

“If we were to speculate, we would caution to expect a 15-20 percent decline when rates are cut this month, with a bottom of $40-50k for BTC,” Bitfinex analysts wrote in a Sept. 2 note.

Bitfinex’s analysts backed up their claims by reiterating that September has historically been a “volatile month” for Bitcoin (BTC), and the anticipated Fed rate cut only adds another “layer of complexity, potentially exacerbating the market’s volatility.”

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Bitcoin in 42-day ‘boredom zone’ — traders debate next move

May 30, 2024 Coin Telegraph

Coin Telegraph

Bitcoin’s price has sat in the "boredom zone" for over a month, leaving traders guessing about a potential surge or retracement.

Bitcoin (BTC) has now spent 42 days in the “boredom zone,” and crypto traders are divided over whether it is consolidating for another surge or facing a 20% pullback toward crucial support levels.

“We have now spent 42 days in the low volatility and boredom zone,” pseudonymous crypto trader CryptoCon declared in a May 30 X post, explaining a lack of volatility in Bitcoin’s price is the main sign of “boredom in the market.”

Bitcoin is currently trading at $67,680, just 6.7% higher than its price 42 days ago, according to data from CoinMarketCap.

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