Profit taking and Bitcoin consolidation give bears an opportunity to take control
The crypto market performed well over the last week, but two key data points hint at a brief cooling off period.
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The crypto market performed well over the last week, but two key data points hint at a brief cooling off period.
OPUL price rallied 175% off its bottom after the project announced DeFi staking, CEX listings and upcoming S-NFT sales.
BTC and altcoins are dropping to retest lower support levels and bulls have yet to buy into the current dip.
BTC price might be consolidating or even reaching a short-term top, but that doesn’t stop pro traders from using options to generate profits.
BTC is holding a key support level, which is allowing altcoins like VET, THETA, RUNE and AAVE to push higher.
AVAX price posted a multi-month higher high, signaling that the altcoin’s downtrend is over, but a decline in network activity could weigh on the current rally.
Traders say BTC is following the expected trajectory, but several macroeconomic factors and geopolitical tensions remain a threat to Bitcoin hitting a new all-time high.