CryptoPM

$CKB

Nervos Network (CKB) surged 30% in 24 hours due to Bitcoin Layer 2 progress, technical breakout signals, and altcoin momentum.

Bitcoin L2 adoption – CKB’s RGB++ and Fiber Network integrations gained traction.

Technical breakout – Price crossed key resistance with bullish RSI/MACD signals.

Altcoin rotation – Market shifts toward high-beta tokens amid stable BTC dominance.

Deep Dive

1. Primary Catalyst: Bitcoin L2 Progress

CKB’s RGB++ protocol (enabling Bitcoin programmability via homomorphic binding) and Fiber Network (Lightning-like payment layer) saw increased adoption, with over 400 dApps and 662,000 addresses now active in its ecosystem (Binance News). This aligns with growing interest in BTCFi (Bitcoin DeFi), a narrative gaining momentum as Ethereum-based BTCFi projects underperform.

2. Technical Context: Breakout Confirmation

Price action: CKB broke above the 23.6% Fibonacci retracement ($0.006387) and its 200-day EMA ($0.0060009), signaling bullish momentum.

Indicators: RSI-14 at 62 (neutral-bullish), MACD histogram rising (+0.000076), and 24h volume spiking 1,456% to $367M, validating the move.

Next resistance: $0.007368 (swing high from July 23).

Conclusion

CKB’s surge reflects a mix of Bitcoin L2 adoption, technical momentum, and altcoin rotation. While the project has rebounded from June’s $ 3.9M bridge hack, sustainability hinges on continued BTCFi traction and broader market sentiment.

Will CKB’s Bitcoin-native infrastructure outpace competing EVM-based BTCFi projects in attracting developers?

#CKB #Macro Insights# #AltSeason