The post HYPE, BGB, MOVE gain in double-digits amidst Bitcoin correction appeared on BitcoinEthereumNews.com.

Hyperliquid, Bitget token and Movement added between 25% and 50% to their value this week. The three tokens have extended their gains in the past hour.  Amidst Bitcoin’s (BTC) crash under the $100,000 mark and market-wide correction in altcoins, these tokens hold on to their recent gains. An analysis of technical indicators shows it is likely that Hyperliquid (HYPE), Bitget token (BGB) and Movement (MOVE) extend their rally.  Bitcoin decline does not fade these altcoin gains Bitcoin slipped to a low of $92,232 on Friday after a steep correction from its $100,000 milestone. Bitcoin’s decline led to a market-wide correction in altcoins across categories on Thursday and Friday.  Even as the crypto market endured a bloodbath, Hyperliquid, Bitget token, and Movement held on to their gains over the past seven days.  Bitcoin’s decline is likely short-lived, and on-chain metrics paint a bullish picture for BTC. BTC is likely entering the latter stages of its bull run; some on-chain indicators point to a cooling or slight overheating, with most metrics signalling a significant upside in 2025. The $100,000 milestone has emerged as a key resistance level for Bitcoin, and the cycle top is likely to emerge between $150,000 and $200,000.  HYPE, BGB and MOVE post double-digit rallies HYPE hovers around $30 at the time of writing. The decentralized layer-1 blockchain specializes in trading and has amassed $2.191 billion in total value of locked assets, according to DeFiLlama data.  HYPE is currently 45% below its all-time high at $42.252. If the Layer 1 token enters price discovery, it could rally towards $60.491, the 161.8% Fibonacci retracement of the rally from the December 10 low to the December 12 peak, as seen in the 4-hour price chart.  The Relative strength index reads 62 and is sloping upwards. The moving average convergence divergence, a…

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Filed under: News - @ December 20, 2024 10:29 pm