Solana

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<p>The post <a href="https://coinpedia.org/news/bitcoin-to-altcoins-why-crypto-whales-are-betting-big-on-these-altcoins-now/">Bitcoin To Altcoins: Why Crypto Whales Are Betting Big on These Altcoins Now?</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>The bull market is back! After a slight drop last week, with the Bitcoin price falling back to the $70,000 mark, it is now back on track again. Bitcoin’s (BTC) value rose <a href="https://markets.coinpedia.org/bitcoin/">above $73,515</a>, marking a 2.6% increase within 24 hours.</p> 
<p>Meanwhile, top holders and whales are strategically shifting their gains from bitcoin to big-cap altcoins like Solana (SOL), Binance Coin (BNB), and Avalanche (AVAX), altcoins that have seen huge double-digit gains over the past day.</p> 
<h2 class="wp-block-heading" id="h-perpetual-funding-rates-drop">Perpetual Funding Rates Drop</h2> 
<p>As per the <a href="https://t.me/QCPbroadcast/1159">analysis by QCP Capital</a>, a Singapore-based firm, sheds light on the current state of the Bitcoin market. Their analysis reveals a sharp decline in perpetual funding rates, indicating potential changes in long-term interest rates and raising questions about the direction of spot prices.</p> 
<p>With March/April futures trading below 30% and Binance forwards indicating lower rates than Deribit, funding rates are poised to normalize further.&nbsp;</p> 
<p>QCP Capital highlights the challenge of sustaining price movements and advises on strategies such as selling spot-forward spreads higher before the price is fully normalized.</p> 
<h2 class="wp-block-heading" id="h-altcoin-rally-sol-bnb-and-avax">Altcoin Rally: SOL, BNB, and AVAX</h2> 
<p>Meanwhile, a noticeable trend emerges as capital circulates into big-cap altcoins, with SOL, BNB, and AVAX seeing notable gains overnight.</p> 
<p>Solana’s remarkable performance shines as SOL price <a href="https://coinpedia.org/price-analysis/solana-sol-price-achieves-165-eyes-200-this-month/">trades at $168.77</a>, marking a 10.94% gain in 24 hours. With SOL nearing critical resistance at $175, indications suggest a potential bullish breakout is imminent.</p> 
<p>After Solana’s performance, Binance Coin has a mesmerizing and self-reinforcing cycle through its launch pool mechanism. Currently, BNB is trading at $610, with some <a href="https://coinpedia.org/news/why-binance-bnb-price-surged-more-than-40-today/">analysts predicting</a> the price will rise to $700.</p> 
<p>Meanwhile, Avalanche is up 3.84%, <a href="https://markets.coinpedia.org/avalanche/">hovering at $56.20</a> and surpassing its previous high of $49 on December 24th.</p> 
<h2 class="wp-block-heading" id="h-bitcoin-price-analysis">Bitcoin Price Analysis</h2> 
<p>In recent days, Bitcoin attempted to cross $72,500 but did so, revealing strong buying interest. Currently trading at $73,452, up 1.8% from yesterday, while bullish signals indicate further gains.</p> 
<p>An increase in the moving averages and RSI in overbought territory indicates a buyers-dominated market. With these <a href="https://coinpedia.org/price-analysis/bitcoin-price-prediction-will-btc-price-hit-77k-or-drop-to-70k-this-week/">bullish indicators</a> in mind, the BTC/USDT trading pair has the potential to rise to $75,000 and could even extend to $80,000.</p>

Bitcoin To Altcoins: Why Crypto Whales Are Betting Big on These Altcoins Now?

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