bitcoinlfg

Tag: driving

  • 1INCH price up 15% as BTC gains: what’s driving 1inch higher?

    1INCH price up 15% as BTC gains: what’s driving 1inch higher?

    • 1inch price performance amid market recovery
    • The 1INCH token has spiked 15% in the past week amid Bitcoin’s rise to above $95k.
    • Could a key 1inch Investments Fund development help 1INCH price higher?

    The 1inch Network token (1INCH) has seen an impressive 15% surge over the past week, reaching $0.2089 as of April 28, 2025.

    According to CoinMarketCap data, this includes a nearly 4% spike in the past 24 hours.

    It’s an upward movement that aligns with a broader crypto market recovery, currently seeing Bitcoin (BTC) hover above a key level.

    As 1inch price looks to break higher, other altcoins such as Casper are rallying.

    Meanwhile, BTC is bidding for an uptick towards $100k – the psychological level that could buoy altcoins in the short term.

    Currently, Bitcoin price sits around $95,218, up 1.9% in the past 24 hours and nearly 10% in the past week.

    With the overall market sentiment seeing bulls take charge, it’s altcoins like 1INCH that could ride a wave of positive momentum to go parabolic.

    Why is 1INCH surging today?

    As noted above, 1inch price has traded higher amid Bitcoin’s spike to above $95k.

    It’s an overall outlook that could continue to dictate bulls’ performance.

    However, a likely key driver behind 1INCH’s price surge is the strategic moves by 1inch’s Investment Fund.

    According to Spot On Chain, the fund recently rotated profits from Wrapped Bitcoin (WBTC) into $1INCH.

    The fund has sold 70.76 WBTC for 6.68 million USDC and then used 1.05M USDC to buy back 5.23 million 1INCH at the average buy price of $0.199.

    This move signals strong confidence in 1INCH’s future value, especially given the fund’s historical success in trading its own token. Previously, 1inch achieved a 118% profit from trading.

    Additional tailwinds for 1INCH may have come from 1inch’s announcement of a new mobile wallet feature.

    This recent update, which enhances web3 accessibility, might be a key driver of 1inch adoption, increasing demand for the native 1INCH token.

    1INCH price prediction

    From a technical perspective, 1INCH shows promising signs for continued growth.

    The Relative Strength Index (RSI) currently sits around 65, indicating that the token is nearing overbought territory but still has room before hitting extreme levels above 80.

    This suggests sustained buying pressure, though traders should watch for potential pullbacks if RSI climbs higher.

    1inch chart by TradingView

     

    Meanwhile, the Moving Average Convergence Divergence (MACD) displays a bullish crossover.

    As can be seen in the chart above, the MACD line is above the signal line and has a positive histogram, reinforcing the upward trend.

    The price is also hugging the upper Bollinger Band. Based on this, $1INCH could target $0.24 in the short term, a level it previously reached in 2024. If this happens, bulls may eye new highs.

    However, if overbought conditions trigger profit-taking, a dip to $0.18 might occur as a key support level.

    Share this article
    Categories
    Tags

    Source link

  • here’s what’s driving the price rally

    here’s what’s driving the price rally

    • CORE DAO’s token, CORE, sees a 67% surge reaching $2.75.
    • Several institutional investment funds have shown interest in CORE.
    • Technical indicators signal a bullish trend for CORE, despite the high RSI suggesting potential overvaluation.

    The price of Core DAO’s native token, CORE, has experienced a staggering surge of over 200% within a week, capturing the attention of cryptocurrency investors.

    This surge prompts an investigation into the factors fueling CORE’s rapid growth and its implications for the broader cryptocurrency industry.

    CORE price performance

    CORE DAO operates as an L1 blockchain supporting Ethereum Virtual Machine (EVM), enabling the execution of Ethereum smart contracts and decentralized applications (dApps). Its native token is referred to as CORE.

    With its “Satoshi Plus” consensus mechanism, CORE combines delegated Bitcoin mining hash with delegated Proof-of-Stake (DPoS) for security. CORE serves as both the utility token and governance token of the Core network, facilitating various functions such as paying transaction fees, staking on the Core network, and participating in on-chain governance.

    CORE’s recent price surge has astonished market observers, with the token’s value soaring by an impressive 67.25% in just one day, reaching $2.75.

    CORE price chart

     

    This surge has propelled CORE to the 54th position in market cap rankings, showcasing its significant market influence. Moreover, trading volume for CORE has surged by 148.07% in the last day alone, indicating heightened investor engagement and liquidity in the market.

    CORE’s supply dynamics reveal that 875,161,702 tokens are currently in circulation, representing approximately 41.67% of its total supply of 2.1 billion tokens. With a fully diluted market cap of $5.78 billion, CORE’s potential market reach is substantial, enhancing investor confidence and interest in the project.

    Technical indicators further support the bullish sentiment surrounding CORE. Exponential moving averages (EMAs) for 50, 100, and 200 days signal a bullish trend, acting as crucial support levels for price movements.

    The MACD line indicates a positive sentiment, strengthening the bullish momentum for CORE. However, the high RSI suggests that the asset may be overvalued, potentially leading to significant price fluctuations.

    Why is the CORE price rallying?

    The recent surge in CORE’s price can be attributed to various factors, notably the endorsement from Coretoshis Lab. This endorsement highlighted the involvement of over 100 crypto institutional investment funds planning to purchase and hold CORE in the current year, instilling confidence in investors and attracting attention to the project.

    Coretoshis Lab’s optimism about CORE’s future trajectory, coupled with references to “going to the Moon” and promising prospects for CoreDAO in 2024, has fueled FOMO among investors eager to capitalize on its upward momentum.

    The Core Chain x Multibit/Bitstable: Core Journey Campaign also kicked off today (April 1, 2024) further fuelling the positive sentiment around CORE cryptocurrency. 

    Share this article
    Categories
    Tags



    Source link

  • Bitcoin surges above $30,100: here are the driving factors

    Bitcoin surges above $30,100: here are the driving factors

    • It is the first time the Bitcoin price is above $30,000 since June last year.
    • The surge comes after a one-month consolidation around $28K.
    • Analysts had set a support level at $25,000 and a resistance level at $30,000.

    Bitcoin price surged above $30,100 early Monday and has been above that level for the better part of the morning. It hit a daily high of $30,160.48 but was trading at $30,126 at press time.

    It is the first time since June 2022 that Bitcoin has hit $30,000, thus cementing the Bull Run that the cryptocurrency started at the beginning of the year.

    What pushed Bitcoin price above $30,000

    The BTC price has surged by more than 46% over the last few months rising to a ten-month level.

    Several analysts had predicted that Bitcoin would regain its $30,000 price tag as traders wait for the United States Consumer Price Index (CPI) report on April 12. The CPI is expected to give insight into the Federal Reserve’s battle against inflation.

    The Crypto Fear and Greed Index has remained within the “Greed” region for the last week, with the latest update putting the score at 68 out of a possible 100. The Crypto Fear and Greed Index numerically present the “emotions and sentiments” toward the cryptocurrency market and Bitcoin.

    The 68 Crypto Fear and Greed Index score is the highest Bitcoin has ever scored since it scored 66 on November 16, 2021, which was just days after Bitcoin hit its all-time high above $69,000.

    However, despite the Crypto Fear and Greed Index score being high, a majority of technical indicators still point to a strong bullish trend which points to a possible long-term bull run over the next days.

    The post Bitcoin surges above $30,100: here are the driving factors appeared first on CoinJournal.

    Source link