The post FTX Founder SBF’s Tweet Triggers 44% Rally in FTT Price appeared on BitcoinEthereumNews.com.

FTX’s native token, FTT, has been experiencing a rollercoaster of price action, particularly following recent corrections. Despite FTX beginning payouts to its creditors, the altcoin struggled to regain its footing in the market over the past week.  However, today marked a significant shift as the price of FTT soared by 44%, driven primarily by tweets from FTX founder Sam Bankman-Fried (SBF).  Sam Bankman Fried Shows Empathy The rally in FTT’s price was largely driven by speculative buying, with Sam Bankman-Fried’s supporters rallying around the news. Sam Bankman-Fried discussed the challenges of firing employees, emphasizing that layoffs often stem from company mismatches, poor management, or unsuitable environments rather than individual deficiencies. He acknowledged the necessity of firing unproductive employees but stressed it’s often a leadership failure. While the price did rally, the Chaikin Money Flow (CMF) indicator revealed that this uptick wasn’t backed by substantial capital inflows. Instead, it was fueled by sentiment surrounding SBF and the FTX situation. The CMF failed to show a corresponding uptick in buying volume, indicating that the price rise was speculative and not sustainable. FTT CMF. Source: TradingView Furthermore, while the price of FTT surged, it became evident that investors were hesitant to fully commit to the token. The CMF’s neutral reading points to weak inflows, reinforcing the view that the price rally is likely to fizzle out. Without substantial support from actual inflows, the price may struggle to hold above current levels, and further speculative rallies may become less frequent. On a broader scale, the market momentum of FTT has been lackluster. Whale addresses, typically seen as strong indicators of price trends, have exhibited minimal activity over the last two months. The net flows of large wallet holders have remained neutral. This is an indication that even the most influential players in the market have…

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Filed under: News - @ February 25, 2025 10:25 am