News

ChainCatcher News, CryptoQuant analyst Axel posted on social media that after bitcoin retraced to $80,000, it has resumed its bullish structure. This trend comes as the market has almost fully priced in the Federal Reserve's third consecutive rate cut, a move that will improve financial conditions and, as long as Powell does not deliver a hawkish surprise, open the window for further asset appreciation. After retracing from the October peak to the $80,000 range, the price has shown a steady upward trend over the past 14 days. The key signal is that the 200-day moving average (DMA) slope (blue histogram) has turned positive for the first time in a month, indicating that short-term bullish momentum has returned. The current price has risen above both the 50-day and 200-day moving averages, confirming the trend. The 52-week high (orange line) forms a key resistance level—once broken, it will open up space for further gains.

According to ChainCatcher, on-chain analyst The Data Nerd (@OnchainDataNerd) has monitored that the whale with address starting 0xb31 has once again successfully predicted the market. This address opened a 5x leveraged long position on Ethereum at an average price of approximately $3,108, with a position size of about $268 million, currently holding an unrealized profit of around $17.26 million.