Uniswap

Bitcoin

DeFi

Toncoin

Resistance

Crypto assets are gaining positive numbers today and might hit a bullish phase after previous days in the woods. Bitcoin (BTC), altcoins, and meme coins plummeted last week as the price of the market leader slumped below $70k amid other macroeconomic factors. However, the last 24 hours saw a 0.40% increase in the market cap raising figures to $2.42 trillion after massive liquidations. 
As crypto assets attempt a rebound, many users feel it might be a short-term correction without a major bullish phase. Short-term bull run can also drag assets to previous positions before a decline. Several factors characterize a bullish phase including the activities of whales and a shift in regulatory policies. Here are four signs of a bullish phase as the market recovers. 
<h2 id="strong-whale-activities-strong">Whale Activities</h2> 
Crypto whales and miners can swing the market due to the size of their holdings. Over the years, whales accumulating a token leads to a price action because of the signals it sends to users. Large-scale holders accumulating assets is a sign of a bullish phase because of the anticipated price action. On the other hand, whales selling their crypto holdings show low sentiments.&nbsp; 
<h2 id="strong-bitcoin-reclaiming-resistance-strong">Bitcoin Reclaiming Resistance</h2> 
Market leader, <a href="https://coingape.com/price/bitcoin/#:~:text=Live%20Price%20of%20Bitcoin%20(BTC,market%20cap%20stands%20at%20$1,304,930,128,118." target="_blank" rel="noopener">Bitcoin</a> trades at $66,125 and is used to gauge the performance of crypto assets. Bitcoin plunging can drive prices downward and this also implies an upsurge. This year BTC price hit an all-time high above $73,000 with altcoins and meme coins also recording gains. If the asset soars above $70,000 this week, other coins will rally behind. 
<h2 id="strong-decentralized-finance-volumes-strong">Decentralized Finance Volumes&nbsp;</h2> 
One check of a healthy market is inflows to decentralized finance (<a href="https://coingape.com/glossary/defi-decentralized-finance/" target="_blank" rel="noopener">DeFi</a>) protocols. Bull markets record a spike in figures as adoption and asset prices grow. If the DeFi ecosystem rebounds in short-term trading, it’s a sign of a positive run in the market. Bull peaks also lead to higher assets under management (AUM).&nbsp; 
<h2 id="strong-outflows-from-exchange-strong">Outflows from Exchange</h2> 
Lower coins on exchange books are a sign of a bullish phase. Crypto users sending assets away from exchanges to other custodians signified long-term positions while sending assets to centralized exchanges points to a potential sale in the market. This also implies to <a href="https://coingape.com/bitcoin-miners-reserves-plunge-to-12-year-low-as-btc-halving-approaches/" target="_blank" rel="noopener">Bitcoin miners</a> sending their rewards to exchanges. 
Also Read: <a href="https://coingape.com/trending/toncoin-ton-v-uniswap-uni-where-will-bulls-settle/" target="_blank" rel="noopener">Toncoin (TON) v Uniswap (UNI): Where Will Bulls Settle?</a> 
The post <a href="https://coingape.com/trending/4-signs-of-a-bullish-phase-amid-market-recovery/">4 Signs of A Bullish Phase Amid Market Recovery</a> appeared first on <a href="https://coingape.com">CoinGape</a>.

4 Signs of A Bullish Phase Amid Market Recovery

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