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Trader Unveils Condition XRP Must Fulfill To Hit New All-Time Highs ‘In No Time,’ Updates Outlook on Bitcoin

A crypto strategist known for making timely Bitcoin ( BTC ) and altcoin calls believes XRP will soon print new all-time highs if one key condition is met. Pseudonymous analyst DonAlt tells his 646,600 followers on the social media platform X that XRP may soar past $3.40 if the altcoin can close the weekly chart in the green – above $2.59. “Close this weekly green and I’ll expect new ATHs (all-time highs) in no time. Red and I’d expect some more ranging in the indicated range. I like ATHs better than ranging so pump it into the weekend please.” Source: DonAlt/X XRP is trading for $2.36 at time of writing, up 1.5% in the last 24 hours. Next up, the analyst says that the BTC/gold ratio may increase as the precious metal surges, suggesting investors may use Bitcoin as “digital gold,” a store of value asset. The BTC/gold ratio, currently at 33, is the value of Bitcoin relative to the price of gold. “Hard to be bearish BTC when gold is going up. Gold is stupid, BTC is less stupid. Just on a relative basis, the BTC/gold ratio should be much higher. Whether that be by gold dumping or BTC pumping.” Source: DonAlt/X He also says that Bitcoin is holding key levels of support despite souring market sentiment. “Could look much worse for the amount of negativity we have here on [social media platform X].” Source: DonAlt/X Lastly, he says Bitcoin will likely hit new all-time highs if it can flip $101,303 into support on the daily chart. Bitcoin is trading for $95,977 at time of writing, flat on the day. Don`t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox Check Price Action Follow us on X , Facebook and Telegram Surf The Daily Hodl Mix Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing. Generated Image: Midjourney The post Trader Unveils Condition XRP Must Fulfill To Hit New All-Time Highs ‘In No Time,’ Updates Outlook on Bitcoin appeared first on The Daily Hodl . CoinOtag

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Ethereum Derivatives Outflows Signal Reduced Selling Pressure, Bullish Potential Ahead

Recently, another large-scale outflow from Ethereum (ETH) derivatives exchanges took place, and it has been interpreted as a significant shift in the market. This outflow was heavily publicized on Twitter and was one of only a few times that a net outflow of that size had been recorded on derivatives exchanges. While the implications of this uptick in outflows have not entirely been unpacked, it’s possible that the recent strong price movement in ETH could have something to do with it. In the past, large outflows from derivatives exchanges have been associated with positive price developments on the horizon. $ETH’s derivatives exchange netflow just saw another massive -60K ETH outflow, the second since Feb 3. Big moves like this typically mean less selling pressure and major position closures—often a bullish signal. Are traders gearing up to hold or stake? pic.twitter.com/wqw3wvxF6R — Kyledoops (@kyledoops) February 6, 2025 Massive Ethereum Outflows and Their Implications for Market Sentiment From derivatives exchanges, the latest outflow of 60,000 ETH occurs just days after a similar move in the opposite direction. Yet in this case, no traders appear to be exiting leveraged positions; instead, this latest outflow looks like a coordinated push of ETH to long-term storage. Unavailable assets mean reduced supply, and observers often interpret reduced supply (and the appearance of it, too) as a sign of an impending increase in price. Markets for derivatives often host highly leveraged traders who take large positions in ETH, anticipating that they can profit from price fluctuations. Yet when big outflows happen, they often signal a substantial reduction in these leveraged positions. That’s one way to interpret it. And the interpretation suggests that speculative traders may be battening down the hatches or moving toward a more conservative trading stance. When these exit-the-building traders close their positions, it also removes from circulation the ETH they were holding. And that’s another reason why we shouldn’t be too bummed out about large outflows. Analysts say that these outflows could mean that Ethereum is entering a low-volatility, balanced-market phase. Closing leveraged positions immediately affect the price, but when they no longer have to happen, that’s when we see “organic” price movement—movement not driven by shorts getting squeezed or by overleveraged, long-funded positions collapsing in a heap. And recently, there have been good reasons to think that price stability, and possibly even a move to the upside, is in Ethereum’s near future. UPDATE: Ethereum outflows from crypto derivatives exchanges hit the highest level since August 2023, showing bullish signs as it may lead to reduced selling pressure and closed leverage positions, according to analysts. pic.twitter.com/GbXKMao62y — Cointelegraph (@Cointelegraph) February 7, 2025 Ethereum’s Spot ETF Inflows Point to Institutional Confidence Further contributing to the positivity surrounding Ethereum, the inflow of assets into Ethereum spot exchange-traded funds (ETFs) reached $10.65 million on February 6, which was now the sixth consecutive day of inflows into these investment vehicles. “Spot” ETFs offer both institutional and retail investors a way to gain exposure to Ethereum without having to directly hold the underlying asset. And for Ethereum, spot ETFs have become a significant vehicle for not just sentiment but capital inflows as well. The consistent investments coming into Ethereum’s spot ETFs are yet another marker of the burgeoning confidence institutional players have in the smart contract platform’s future. For these largely-male institutions, steadily accumulating Ethereum through ETFs is a sort of prelude to what they really want to do with Ethereum. They want to build on it, and they believe it can be something much bigger than it is now. The smart contract platform’s low and relatively stable prices in recent months seem like an ideal entry point. Ethereum’s Market Dynamics: What’s Next? Combining large outflows from Ethereum derivatives exchanges with steady inflows into Ethereum spot ETFs might start to alter market dynamics. With the derivatives market shedding leverage, the chances of speculative trading causing wild price swings seem to be diminishing. At the same time, the steady inflow into spot ETFs suggests that institutional players still view Ethereum as a likely winner, which might contribute to staving off the sort of volatility that could result from large Ethereum price moves in either direction. At the same time, the ongoing withdrawal of funds from Ethereum derivatives exchanges seems to be signaling that the speculative bubble in Ethereum is beginning to deflate, with traders adopting a more reserved posture. If this is, indeed, a transition to a new, more sustainable market for Ethereum, it might lead not just to reduced volatility for Ethereum but also (and this is very much a hope for Ethereum’s supporters) to a price that is more reliably upward-trending. In the coming weeks, how these trends continue to evolve will probably decide Ethereum’s price movement. If outflows from the derivatives market keep up their current high rate and institutional inflows into spot ETFs keep coming in, then Ethereum could be set up for a nice growth run. The speculative selling pressure that these traders impose on the market could be going away for the duration of this trend. And the very fact that institutions are willing to invest in Ethereum through spot ETFs could provide a nice foundation of stable price support coming from their inflows as well. On February 6, the total net outflow of Bitcoin spot ETF was $140 million, and the outflow of Fidelity FBTC was $103 million. The total net inflow of Ethereum spot ETF was $10.6519 million, and the net inflow continued for 6 days. https://t.co/59u0BnEqLG — Wu Blockchain (@WuBlockchain) February 7, 2025 Conclusion: A Positive Outlook for Ethereum The recent outflow of Ethereum from derivatives exchanges hasn’t just stopped; it’s actually gained speed in recent weeks. Meanwhile, rather than seeing spot ETFs in Ethereum merely being “approved,” the crypto space has increasingly watched as not just one or even two but several spot ETF ‘futures’ have been launched, and not just launched but with apparent success. So this is the situation: We’ve got a digital asset that could be just about to stop being a joke and instead be a jillion-dollar player, gaining foundation-level support from some of the largest institutions in the world. Considering these optimistic signals, it is reasonable to conclude that Ethereum has a solid opportunity to extend its growth trajectory in the near future. If the nearly quarter-century trend continues of reduced selling pressure and during increased institutional interest, then Ethereum is potentially set up for a strong showing as it goes into the next phase of its market cycle. Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services. Follow us on Twitter @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news ! Image Source: nexusplexus/ 123RF // Image Effects by Colorcinch CoinOtag