Traders appear to be waiting for a trigger to start the next leg of Bitcoin’s uptrend and if that happens, XLM, MIOTA, XMR and XTZ could join the party.
Tezos Foundation has officially invested in the LA-based early-stage blockchain fund Draper Goren Holm, it said in a release shared with CryptoSlate.
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Bitcoin is facing minor resistance near $50,000 but if this psychological barrier is crossed, a major breakout could occur in select altcoins.
With all this bullish bitcoin activity, the ETH/BTC pair has gone bearish, a sign traders are selling ether for bitcoin.
A bullish bitcoin mentality appears to be forming in the options market while ether continues on its roller coaster.
There appears to be strong support around $30,000, according to traders.
Bitcoin’s brief period of consolidation has opened a path for select altcoins to rally higher.
Tezos, Synthetix and Yearn finance are the most recent top performers in what appears to be a DeFi sector revival.
A bit of bitcoin price dumping occurred Monday while some investors dove back into DeFi with their ether.
Bitcoin’s price is gyrating Monday while ether targets the moon.