5 Altcoins To Watch as BTC Price Eyes $70K
The post 5 Altcoins To Watch as BTC Price Eyes $70K appeared on BitcoinEthereumNews.com.
The BTC price surged 3.2% during the U.S trading session on Friday, nearly retesting the $60000 psychological level. A potential breakout from this resistance could accelerate the ongoing recovery and drive a rally to $70000. Here are five altcoins to watch amid a renewed bullish trend. 5 Altcoins Poised for Gains as BTC Price Eyes $70K The BTC price daily chart shows a V-shaped reversal from $52500 to $59900— a 13.5% increase within two weeks. The bullish turnaround can be attributed to the market expecting a potential 50 BPS interest rate cut at the Sept. 18 FOMC meeting. If it happens, Bitcoin could chase $70000 and fuel bullish momentum in these below altcoins. XRP Cardano (ADA) Tron (TRX) Polygon (POL) Sui Xrp (XRP) XRP, the native cryptocurrency of the global payment solution company Ripple, witnessed a massive inflow on Thursday following Grayscale Investments’ relaunching of its XRP Trust. This development suggests growing institutional confidence in XRP and could potentially lead to the introduction of a new crypto exchange-traded trust (ETT) focused on XRP. The XRP price currently trades at $0.57, registering a 7% jump in the last 48 hours. Consequently, the market cap was boosted to $32.18. According to the santiment data, the XRP Whales wallet, holding 10 million to 1 billion coins, has shown steady accumulation since January 2022, carrying 6.94 billion XRPs. This indicates rising interest from large holders, bolsters a potential reversal and stable rally. Supply Disctribution | Santiment Cardano (ADA) Coinciding with other altcoins, Cardano coin showcased a notable bounce from $0.31 to $0.359, accounting for 14.5% growth. If the bullish turnaround sustains, the ADA price could surge another 7% before challenging the overhead trendline intact since May 2024. A potential breakout from this barrier will signal a change in market sentiment and accelerate the bullish…
Filed under: News - @ September 14, 2024 3:13 am