Bitcoin price strength extends to AVAX, SUI, TAO and AAVE — Are altcoins back?
Bitcoin’s rally to $64,000 increased traders’ interest in altcoins like AVAX, SUI, TAO and AAVE.
Bitcoin (BTC) dipped below $63,000 on Sept. 22, indicating possible profit booking by short-term traders. Some analysts believe that Bitcoin could enter a minor consolidation before attacking the crucial overhead resistance at $65,000.
While short-term uncertainties remain, analysts are bullish for the long term. Standard Chartered global head of digital assets research Geoff Kendrick expects Bitcoin to reach $200,000 by the end of 2025. Kendrick anticipates the positive inflows into Bitcoin exchange-traded funds, a marginal uptick in inflation, and the likely removal of Staff Accounting Bulletin-121 — a rule effectively preventing banks from holding digital assets for clients — to be the major triggers for Bitcoin’s rally.
Crypto market data daily view. Source: Coin360
Bitcoin’s rally to $64,000 increased traders’ interest in altcoins like AVAX, SUI, TAO and AAVE.
Bitcoin (BTC) dipped below $63,000 on Sept. 22, indicating possible profit booking by short-term traders. Some analysts believe that Bitcoin could enter a minor consolidation before attacking the crucial overhead resistance at $65,000.While short-term uncertainties remain, analysts are bullish for the long term. Standard Chartered global head of digital assets research Geoff Kendrick expects Bitcoin to reach $200,000 by the end of 2025. Kendrick anticipates the positive inflows into Bitcoin exchange-traded funds, a marginal uptick in inflation, and the likely removal of Staff Accounting Bulletin-121 — a rule effectively preventing banks from holding digital assets for clients — to be the major triggers for Bitcoin’s rally.Crypto market data daily view. Source: Coin360Read more