Ethereum

Cardano

2024

Bitcoin

<img width="1200" height="686" src="https://coingape.com/wp-content/uploads/2024/02/image-2024-02-17T165848.859-e1709036398573.jpg" class="attachment-full size-full wp-post-image" alt="Crypto Price Prediction" decoding="async" style="float:right; margin:0 0 10px 10px;">
Crypto Price Prediction: On February 26th, the cryptocurrency market witnessed a significant inflow in US trading hours, as the <a href="https://coingape.com/price/bitcoin/">Bitcoin price</a> nearly grazed $55000 for the first time in 2 years.&nbsp; 
In a notable trading session on Monday, Bitcoin ETFs witnessed substantial volumes, underlining the growing investor interest in cryptocurrency markets. Leading the pack was $<a href="https://coingape.com/blackrocks-ibit-hits-1b-daily-trading-milestone-on-bitcoin-rally/">IBIT</a>, amassing an impressive $1,289 million in trades, followed by $GBTC with $817 million, and $FBTC capturing $576 million in volume.&nbsp; 
$ARKB also made its mark with $261 million in trades. Altogether, the top nine Bitcoin ETFs collectively generated approximately $2.35 billion in volume, showcasing significant market activity and investor confidence.&nbsp; 
Amid this bustling trading environment, the <a href="https://coingape.com/spot-btc-etfs-experience-record-3-24b-volume-amid-supply-shock/">Bitcoin spot ETFs</a> experienced a substantial net inflow of $519 million, While the Grayscale’s GBTC ETF saw a net outflow of $22.37 million, recording a new historical low. 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a>&nbsp;ETF Volume results of Monday 26th of February (31st trading day): 
 <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f947.png" alt="🥇" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://twitter.com/search?q=%24IBIT&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$IBIT</a> $1,289m <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f948.png" alt="🥈" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://twitter.com/search?q=%24GBTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$GBTC</a> $817m <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f949.png" alt="🥉" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://twitter.com/search?q=%24FBTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$FBTC</a> $576m <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1fab5.png" alt="🪵" class="wp-smiley" style="height: 1em; max-height: 1em;"><img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f3c5.png" alt="🏅" class="wp-smiley" style="height: 1em; max-height: 1em;">$ARKB $261m 
 Total Volume for The Nine: circa $2.35b! 
 Huge numbers for volume, with more than $2b just for the Nine, and the price action is texting on… <a href="https://t.co/Q4GapYrCUf">https://t.co/Q4GapYrCUf</a> <a href="https://t.co/MAGhczWXp8">pic.twitter.com/MAGhczWXp8</a> 
 — Alessandro Ottaviani (@AlexOttaBTC) <a href="https://twitter.com/AlexOttaBTC/status/1762223108218384448?ref_src=twsrc%5Etfw">February 26, 2024</a>
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The renewed buying pressure in Bitcoin uplifted the global crypto market cap, recording an 8.06% surge since yesterday to reach $2.14 Trillion. 
Also Read: <a href="https://coingape.com/bitcoin-price-jump-to-52200-risks-1-bln-short-liquidations-whats-next/">Bitcoin Price Jump To $52,200 Risks $1 Bln Short Liquidations, What’s Next?</a> 
<h2 id="bitcoin-soars-to-2-year-high-amid-surge-in-whale-activity-and-etf-inflows">Bitcoin Soars to 2-Year High Amid Surge in Whale Activity and ETF Inflows</h2> 
<figure style="width: 100%" class="wp-caption alignnone">
 <img decoding="async" src="https://s3.tradingview.com/snapshots/s/s4EXZENk.png" alt="BINANCE:BTCUSD Chart" width="1946" height="937">
 <figcaption class="wp-caption-text">
 Bitcoin| Tradingview
 </figcaption>
</figure> 
The leading cryptocurrency Bitcoin traded majorly sideways in the second half of February, resonating within $53000 and $50600 price levels. However, with yesterday’s massive inflow in Spot BTC ETFs, the underlying asset BTC witnessed sudden buying pressure leading and breached overhead resistance of $53000. 
In the last 48 hours, the Bitcoin price surged 10% to hit a 2-year high of $57000. Moreover, The Bitcoin ecosystem is witnessing a remarkable surge in whale activity, with the creation of over 150 new BTC addresses, each holding upwards of 1,000 BTC, in just the last month.&nbsp; 
This significant increase highlighted by crypto trader Ali_charts suggests a growing concentration of wealth and possibly, investor confidence in Bitcoin’s long-term value. 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> whales are going parabolic! In just the last month, over 150 new <a href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw">#BTC</a> addresses, each holding more than 1,000 <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a>, have been created. <a href="https://t.co/3lox2KrPcm">pic.twitter.com/3lox2KrPcm</a> 
 — Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1762150817975419228?ref_src=twsrc%5Etfw">February 26, 2024</a>
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Currently trading at $56527, the <a href="https://coingape.com/bitcoin-critic-jamie-dimon-on-ai-this-is-not-hype-this-is-real/">BTC</a> price is less than 20% away from its all-time high of $68,789 just 55 days before its halving. With sustained bullish momentum, the crypto buyers may chase a potential target of $59200, followed by $62300. 
<h2 id="ethereum-gains-momentum-from-whale-purchases-and-key-resistance-breakout">Ethereum Gains Momentum from Whale Purchases and Key Resistance Breakout</h2> 
<figure style="width: 100%" class="wp-caption alignnone">
 <img decoding="async" src="https://s3.tradingview.com/snapshots/w/Wcxwg3sF.png" alt="BINANCE:ETHUSD Chart " width="1946" height="937">
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 Ethereum| Tradingview
 </figcaption>
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Amid the renewed buying interest in Bitcoin, the <a href="https://coingape.com/ethereum-eth-price-up-5-as-layer-2-defi-tvl-hits-30-billion/">Ethereum</a> coin witnessed a notable recovery since last week. From the low of $2909, the asset value surged 11.8%&nbsp; in the last four days to reach the current trading price of $3254. 
Moreover, an active Ethereum whale has escalated its market presence by purchasing 2,426 <a href="https://coingape.com/markets/is-ethereum-price-to-3500-this-chart-offers-insight/">ETH</a> ($7.8M) from Binance, as reported by the on-chain analytics platform Lookonchain. Since February 9, this investor has withdrawn a total of 11,719 ETH ($30.93M) from Binance, with purchases made at an average price of $2,639 per ETH. This accumulation from smart money provides an additional conviction on the asset’s future projection. 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 A whale is buying 2,426 <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a>($7.8M) from <a href="https://twitter.com/hashtag/Binance?src=hash&amp;ref_src=twsrc%5Etfw">#Binance</a> again! 
 The whale withdrew 11,719 <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a>($30.93M) from <a href="https://twitter.com/hashtag/Binance?src=hash&amp;ref_src=twsrc%5Etfw">#Binance</a> at $2,639 since Feb 9. 
 The whale traded <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a> 4 times, 2 of which were profitable, with a total profit of ~$3.85M. 
 Buy 7,472 <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a>($13.86M) at $1,855 and sell at… <a href="https://t.co/Ir5qSK8J6W">pic.twitter.com/Ir5qSK8J6W</a> 
 — Lookonchain (@lookonchain) <a href="https://twitter.com/lookonchain/status/1762399016774767053?ref_src=twsrc%5Etfw">February 27, 2024</a>
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An Analysis of the daily chart shows the <a href="https://coingape.com/price/ethereum/">Ethereum price</a> breached the resistance trendline of an expanding channel pattern. Under favorable bullish conditions, the ETH price should prolong its recovery to $3600, followed by $3942. 
Also Read: <a href="https://coingape.com/ethereum-news-ico-investor-initiates-massive-coinbase-dump-as-eth-price-soars/">Ethereum ICO Investor Initiates Massive Coinbase Dump As ETH Price Soars To $3200</a> 
<h2 id="this-bullish-pattern-hints-cardano-price-rally-beyond-1">This Bullish Pattern Hints Cardano Price Rally Beyond $1</h2> 
<figure style="width: 100%" class="wp-caption alignnone">
 <img decoding="async" src="https://s3.tradingview.com/snapshots/q/QL3Y3Rgn.png" alt="BINANCE:ADAUSDT Chart" width="1815" height="836">
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 Cardano Price| Tradingview
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ADA, the native cryptocurrency of the <a href="https://coingape.com/markets/cardano-price-analysis-ada-surges-past-0-59-mark-will-bulls-break-0-9/">Cardano</a> ecosystem, has witnessed a steady recovery since last month with its jump from $0.46 to $0.618. This positive upswing has been recorded by 35% and recovered nearly the entire losses from the last correction. 
With this sustained rally backed by increasing volume and occasional pullback, the <a href="https://coingape.com/price/cardano/">Cardano price</a> will likely surge 10% to hit $0.677 resistance. This horizontal level is the key neckline of a bullish reversal pattern pattern cup and handle, developing for the past 21 months. 
Thus, a successful breakout beyond this barrier will signal a change in market dynamics and offer traders a new long-entry opportunity. Under the influence of this pattern, the post-breakout rally is set to chase a potential target of $1.14. 
The post <a href="https://coingape.com/markets/crypto-price-prediction-as-recovery-btc-eth-ada/">Crypto Price Prediction As Bitcoin Price Pushes Towards $58,000</a> appeared first on <a href="https://coingape.com">CoinGape</a>.

Crypto Price Prediction As Bitcoin Price Pushes Towards $58,000

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