<img width="1200" height="800" src="https://coingape.com/wp-content/uploads/2024/01/new-crypto-e1706969692323.png" class="attachment-full size-full wp-post-image" alt="Crypto Market Prediction" decoding="async" style="float:right; margin:0 0 10px 10px;">
Cryptocurrency Price Analysis: Over the past few days, the <a href="https://coingape.com/bitcoin-news-us-states-step-up-to-defend-btc-rights-amid-bullish-outlook/" rel="noopener noreferrer nofollow">cryptocurrency market</a> has been volatile, indicating the prevailing bullish momentum is likely exhausted. The leading digital asset, bitcoin is struggling to surpass $52000, teasing a new fresh correction in the market.
Recent analytics from IntoTheBlock reveal a striking correlation between <a href="https://coingape.com/top-analyst-expects-40-bitcoin-price-correction-before-rally-to-150k-heres-why/" rel="noopener noreferrer nofollow">Bitcoin</a> and traditional stock markets, with the connection reaching its peak in two months. This trend is interpreted as a signal that investors are betting on an imminent rate cut by the Federal Reserve, reflecting a bullish sentiment in the market.&nbsp;
The notable correlation coefficients—0.72 with the S&amp;P 500 and 0.63 with the Nasdaq 100 as of mid-February—suggest Bitcoin is increasingly moving in lockstep with major stock indices, challenging its perceived role as a non-correlated asset and hedge against market volatility. As Bitcoin appears to mirror the traditional market’s movements, investors may consider reassessing their strategies in light of this new data-driven insight.
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 Bitcoin and stocks appear to be frontrunning the Fed's rate-cut decision. With the highest correlation in two months, it's clear investors are bullish on a rate cut happening sooner rather than later <a href="https://t.co/2W9XvBWcfG" rel="noopener noreferrer nofollow">pic.twitter.com/2W9XvBWcfG</a>
 — IntoTheBlock (@intotheblock) <a href="https://twitter.com/intotheblock/status/1759171062426710035?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">February 18, 2024</a>
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Despite the market uncertainty, the <a href="https://coingape.com/markets/ethereum-price-analysis-as-eth-tops-2800-is-3000-the-immediate-next-stop/" rel="noopener noreferrer nofollow">Ethereum (ETH)</a> coin sustains its recovery trend, while the Worldcoin (WLD) and Stacks (STX) emerged as some of the higher gainers among top coins.
<h2 id="b-high-momentum-rally-sets-ethereum-price-to-surpass-3000-b">High Momentum Rally Sets Ethereum Price to Surpass $3000</h2>
<figure style="width: 100%" class="wp-caption alignnone"><img decoding="async" src="https://s3.tradingview.com/snapshots/w/wYNVSrxl.png" alt="BINANCE:ETHUSD Chart " width="1946" height="937">
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 Ethereum Price| Tradingview
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The second largest cryptocurrency Ethereum has shown strong resilience to the waning bullish momentum, as the <a href="https://coingape.com/ethereum-beacon-chain-128-million-pledged-in-ico-contributions/" rel="noopener noreferrer nofollow">ETH</a> price continues to march north. Within a month, the coin price surged from $2171 to $2913, registering 34% growth.
According to on-chain data tracked by Lookonchain, a crypto whale has executed a significant transaction, withdrawing 11,587 Ethereum (ETH) from the exchange Binance, an amount valued at approximately $33.5 million.&nbsp;
The analysis further reveals that this is part of a larger pattern of accumulation by the whale, who has purchased a total of 64,346 ETH, worth an estimated $178.9 million, from both centralized and decentralized exchanges since February 8th.&nbsp;
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 The whale withdrew 11,587 <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$ETH</a>($33.5M) from <a href="https://twitter.com/hashtag/Binance?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Binance</a> again just now.
 And the whale has bought a total of 64,346 <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$ETH</a>($178.9M) from CEX and DEX since Feb 8.<a href="https://t.co/YXTeXbkTnF" rel="noopener noreferrer nofollow">https://t.co/YXTeXbkTnF</a> <a href="https://t.co/rma98RuO5d" rel="noopener noreferrer nofollow">pic.twitter.com/rma98RuO5d</a>
 — Lookonchain (@lookonchain) <a href="https://twitter.com/lookonchain/status/1759451529776689588?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">February 19, 2024</a>
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This aggressive accumulation by a single market participant has coincided with a noticeable uptick in the ETH price, suggesting the smart money belief for further growth potential.
A look at the daily time frame chart shows the <a href="https://coingape.com/price/ethereum/" rel="noopener noreferrer nofollow">Ethereum price</a> rally is led by a rising channel pattern. If the pattern holds true, the coin price shows another 8.5% to hit the pattern’s overhead trendline at $3175.
Also Read: <a href="https://coingape.com/crypto-hacker-transfers-stolen-ethereum-after-26-mln-btc-eth-exploit/" rel="noopener noreferrer nofollow">Crypto Hacker Transfers Stolen Ethereum After $26 Mln BTC &amp; ETH Exploit</a>
<h2 id="b-will-tvl-expansion-lead-stacks-price-rally-to-3-2-b">Will TVL Expansion Lead Stacks Price Rally to $3.2?</h2>
<figure style="width: 100%" class="wp-caption alignnone"><img decoding="async" src="https://s3.tradingview.com/snapshots/0/0Il9hECO.png" alt="BINANCE:STXUSDT Chart " width="1946" height="937">
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 Stacks Price| Tradingview
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The <a href="https://coingape.com/heres-how-btc-uptrend-is-driving-57-rally-in-stacks-stx-price/" rel="noopener noreferrer nofollow">Stacks coin (STX)</a> has experienced a significant bullish run in the past two weeks, soaring nearly 98% from a base of $1.448 to the current trading price of $2.85. This impressive surge is largely attributed to a substantial increase in the network’s Total Value Locked (TVL), which has seen a remarkable jump from $53.3 million to $124 million in the same period.&nbsp;
This represents a growth of approximately 132.64% in TVL, signaling a robust enhancement in the platform’s adoption and user trust.
<figure id="attachment_181238" aria-describedby="caption-attachment-181238" style="width: 100%" class="wp-caption aligncenter"><img decoding="async" class="wp-image-181238 size-full" src="https://coingape.com/wp-content/uploads/2024/02/image_2024-02-19_17-38-55.png" alt="StacksTotal Value Locked " width="1044" height="542" srcset="https://coingape.com/wp-content/uploads/2024/02/image_2024-02-19_17-38-55.png 1044w, https://coingape.com/wp-content/uploads/2024/02/image_2024-02-19_17-38-55-300x156.png 300w, https://coingape.com/wp-content/uploads/2024/02/image_2024-02-19_17-38-55-768x399.png 768w, https://coingape.com/wp-content/uploads/2024/02/image_2024-02-19_17-38-55-150x78.png 150w" sizes="(max-width: 1044px) 100vw, 1044px">
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 Stacks-Total Value Locked| DefiLlama
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From a technical standpoint, the daily chart analysis indicates that this rally is being propelled by a rounding bottom pattern, a bullish indicator that often precedes sustained upward movements.&nbsp;
Riding the momentum of this pattern, the <a href="https://coingape.com/price/stacks/" rel="noopener noreferrer nofollow">Stacks price</a> has climbed 14%, reaching the neckline resistance of $3.236, suggesting a potential for continued upward movement if the pattern holds true.
<h2 id="b-what-s-ahead-for-worldcoin-wld-price-98-surge-in-a-week-b">What’s Ahead for Worldcoin (WLD) Price 98% Surge in a Week?</h2>
<figure style="width: 100%" class="wp-caption alignnone"><img decoding="async" src="https://s3.tradingview.com/snapshots/b/BFN5mLkj.png" alt="BINANCE:WLDUSDT Chart Image by sahilmahadik07" width="1946" height="937">
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 Worldcoin (WLD) Price| Tradingview
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WLD, the native cryptocurrency of the <a href="https://coingape.com/worldcoin-hits-major-adoption-milestone-as-price-retains-11-surge/" rel="noopener noreferrer nofollow">Worldcoin</a> ecosystem has emerged as the highest weekly gainer among the top 100 cryptocurrencies by market cap. From last week’s low of $2.61, the asset surged 190% to hit $7.6
Dyeing the broader market, the <a href="https://coingape.com/key-reasons-why-worldcoin-wld-price-soared-190/" rel="noopener noreferrer nofollow">WLD</a> maintained a high momentum rally as the project’s dedicated wallet application, World App, surpassed the milestone of 1 million daily users this week. This significant achievement highlights the growing adoption and user engagement within the Worldcoin community.
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 World App, the first wallet built for the Worldcoin project, passed 1M daily users this week. This community is incredible <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1fae1.png" alt="🫡" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://t.co/Mf6Y51gscQ" rel="noopener noreferrer nofollow">pic.twitter.com/Mf6Y51gscQ</a>
 — Worldcoin (@worldcoin) <a href="https://twitter.com/worldcoin/status/1758897369872056585?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">February 17, 2024</a>
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With an intraday gain of 305, the WLD price marked a new all-time high at $7.75. However, such aggressive rallies will likely persist unless the asset is fueled by some positive news. Thus, the newcomers may wait for a pullback opportunity at $6.
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 <li><a href="https://coingape.com/worldcoin-whale-add-million-profit-wld-price-soar-20/" rel="noopener noreferrer nofollow">Worldcoin Whale Adds Millions In Profits As WLD Price Soars Over 20%</a></li>
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The post <a href="https://coingape.com/markets/cryptocurrency-market-analysis-today-february-19th-eth-stx-wld/" rel="noopener noreferrer nofollow">Cryptocurrency Market Analysis For February 19th: ETH, STX, WLD</a> appeared first on <a href="https://coingape.com" rel="noopener noreferrer nofollow">CoinGape</a>.

Cryptocurrency Market Analysis For February 19th: ETH, STX, WLD

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