Market Analysis and Strategy Ethereum Futures Trading

Ethereum experiences a price drop. This article will provide an in-depth analysis of the factors influencing the price of ETH, including short-squeeze, institutional flows, and long-term prospects.

Ethereum (ETH) experienced two consecutive days of declines on Tuesday, October 22, after facing rejection at levels around $2,700 the previous day. The decline was supported by mild outflows of over $20 million in US spot Ethereum Exchange Traded Funds (ETFs).

Moreover, the Estimated Leverage Ratio is high in the market futures ETH indicating an increased likelihood of a short-squeeze scenario occurring.

Is it true Ethereum could experience a short-squeeze?

Ethereum may experience a short-squeeze as the Estimated Leverage Ratio (ELR) increases and trades at 0.39 the highest level since early July. This rising ELR indicates that the futures market is overheating making Ethereum vulnerable to a potential short-squeeze event that could trigger impulse buying and significantly push the price up in the event of an unexpected rise.

Institutional flows also fell slightly at the start of the week. According to Coinglass data, US spot Ethereum ETFs recorded mild outflows of $20.80 million on Monday. CryptoQuant's Coinbase Ethereum Premium Index data shows signs of weakness and remains below neutral levels.

In Ethereum's case, the metric currently stands at -0.039, below the neutral level of zero. For the Ethereum price to rally, the metric must rise above the neutral value of zero.

Ethereum Price Shows Signs of Weakness

At the time of writing on October 24, Ethereum has continued its price decline to now trade around $2,522. If ETH continues its retracement, it could fall further to retest its daily support level of around $2,461.

The Relative Strength Index (RSI) momentum indicator is showing 31, a very low number because the selling trend is much higher than the buying trend. Currently, ETH can even be considered to be experiencing overselling. With the MACD line continuing to decline, Ethereum is certain to experience bearishness shortly.

Conversely, if ETH breaks the descending trend line and closes above $2,820, Ethereum's price could rally to retest the next daily resistance at $2,927.

Ethereum Price Analysis

Ethereum has experienced a price decline in recent weeks. This is largely due to the bearish sentiment in the cryptocurrency market as a whole. However, some special factors have also influenced the price of Ethereum.

One of these factors is the increase in mining activity. When more miners join the Ethereum network, this can increase the supply of new ETH. Increased supply could put downward pressure on prices.

Additionally, increasing gas fees have been a concern for Ethereum users. Gas fees are transaction fees paid to miners for processing transactions. When gas fees are high, this can reduce users' interest in using the Ethereum network, which can hurt the price of ETH.

Ethereum Prospects

Even though Ethereum has experienced a price decline in recent times, many analysts are still bullish on its long-term prospects. Ethereum is the most widely used blockchain platform for decentralized applications (dApps). This platform has a strong ecosystem and continues to grow.

One factor supporting Ethereum's prospects is the increasing adoption of blockchain technology. The more companies and organizations start using blockchain, the more likely it is that Ethereum will become the platform of choice.

Additionally, Ethereum is developing Ethereum 2.0, which is a major update to the platform. This update is expected to improve Ethereum's efficiency and scalability. This can increase the interest of users and investors.

Ethereum Futures Trading Strategy and Risks

If you are interested in trading Ethereum futures, there are several strategies you can use. One strategy is to use technical analysis to identify trading opportunities. Technical analysis involves studying price charts to look for patterns and trends.

Another strategy is to use fundamental analysis. Fundamental analysis involves studying factors that can influence the price of Ethereum, such as mining activity, gas fees, and the development of Ethereum 2.0.

Ethereum futures trading can be very risky. Leverage can magnify both profits and losses. It is important to understand the risks before starting to trade.

Conclusion

Ethereum is an attractive digital asset with long-term growth potential. However, like all investments, Ethereum futures trading also carries risks. It is important to do research and understand the risks before starting trading by checking Ethereum prices regularly on the Bitrue website.

You can also compare prices from ETH to USD easily. Apart from that, you can also do thorough research by staying up to date on the latest Ethereum information via the Bitrue blog.

About Bitrue

Bitrue is a leading cryptocurrency exchange, offering a wide range of digital assets, innovative features, and user-focused services. Founded with the mission to empower the world’s crypto enthusiasts, Bitrue continues to expand its platform with new products, events, and opportunities for users worldwide.

Sudeng (HIPPO), Sui Network's First Meme Coin, Here's Its Potential

Sudeng (HIPPO) is the first meme coin on the SUI network. What is the potential of this meme coin? Are HIPPO's fundamentals capable of making this token continue to attract investors and gain long-term hype?

Sudeng (HIPPO) is Sui Network's first and only meme coin. $HIPPO not only focuses on memes, but also prioritizes community values ​​and sustainable ecosystem development.

Currently, $HIPPO has a market capitalization of over $160 million and is the leading meme coin on the Sui network. 

Why Sudeng (HIPPO) Attracts Attention?

Sudeng (HIPPO) is the favorite among Sui meme tokens for several reasons:

1. First Meme Coin on Sui: Sudeng is a pioneer of meme tokens on the Sui network, so it has the potential to become a market leader in the future.

2. Significant Market Capitalization: With a market capitalization of over $109 million, Sudeng shows huge growth potential.

3. Solid Community: The $HIPPO community is optimistic that the token price will continue to increase along with the positive trend of the Sui network.

Technical Analysis and Future Prospects

After experiencing a price correction some time ago, $HIPPO needs to show a signal of returning buying interest. Technically, $HIPPO price is at $0.01022 and must return to $013 for the uptrend to continue.

Currently, $HIPPO is listed on several global crypto exchanges and will soon be listed on Bitrue. With guaranteed liquidity, $HIPPO has the potential to attract more investors in the future.

Sudeng and the Future of Meme Coin on the Sui Network

The emergence of Sudeng (HIPPO) as a pioneer of meme coins on Sui paved the way for the presence of other meme tokens on the network. The "meme supercycle" trend currently occurring in the crypto world is also driving the growth of Sui-based meme tokens.

Apart from Sudeng, another meme token that is attracting attention is Fud The Pug (FUD). FUD is currently trading on MEXC and has support at the $0.0000005555 level. A potential FUD listing on Gate.io is expected to drive the price of the token up.

Sudeng (HIPPO) Donate to Elephant Conservation

Recently, the $HIPPO team represented by Kullathida Othong officially established a charity partnership with Khao Kheow Open Zoo in Thailand.

This partnership was marked by a donation of 5 million Thai Baht (approximately 150,000 USD) to support zoo operations and elephant conservation in Thailand.

This donation was given as a form of concern for the difficulties faced by wildlife in Northern Thailand due to flooding.

SUI Network's Meme Coin and Native Stablecoin

The price of the SUI token itself is experiencing a significant increase, namely by 350% in the last 2 months. This increase was accompanied by a rapid increase in total value locked (TVL) on the Sui network.

This surge in price and TVL also drove the growth of Sui-based meme tokens, including Sudeng (HIPPO).

Apart from that, SUI also has a stablecoin, USDC Circle. Integration of stablecoin USDC Circle directly to the Sui network increases capital efficiency and improves user experience across multiple dimensions. SUI's native USDC offers different advantages compared to bridged USDC (wUSDC).

Genuine issuance guarantees that the assets are fully reserved and can always be redeemed 1:1 for US dollars. This adds a layer of trust for developers and users, who can rely on the integrity of the underlying assets.

Conclusion

Sudeng (HIPPO) comes as a breath of fresh air in the crypto world, not only because it is the first meme token on the Sui network, but also because of its noble mission in supporting elephant conservation.

The $HIPPO team promises to announce more strategic partnerships and collaborations in the future.

$HIPPO prospects in the future look promising, especially with strong community support and the positive trend of the Sui network.

You can do in-depth research about HIPPO on Bitrue, such as following the latest crypto projects to checking prices in real time and even finding out price conversions from HIPPO ke USD.

About Bitrue

Bitrue is a leading cryptocurrency exchange, offering a wide range of digital assets, innovative features, and user-focused services. Founded with the mission to empower the world’s crypto enthusiasts, Bitrue continues to expand its platform with new products, events, and opportunities for users worldwide.

Bitcoin Futures Trading: Market Analysis and Prospects

 

Bitcoin futures open interest hits record high! In-depth analysis of its impact on the price of Bitcoin and the cryptocurrency market as a whole. Learn the risks and opportunities of Bitcoin futures trading.

Bitcoin futures trading, as per a report from Coinglass, has hit a new record high with open interest (OI) reaching $40.5 billion on October 21. These trades are carried out by various global crypto exchanges.

This article will provide detailed information regarding market analysis and the Bitcoin futures trading process. That way, you can do personal research before investing.

Bitcoin Hits $70,000

The increase in open interest coincides with Bitcoin price approaching $70,000, more precisely $67,027 with an increase of +0.50%. Open interest refers to the total value or number of futures contracts that have not yet expired. It serves as a leading indicator of market activity and investor engagement in Bitcoin derivatives.

An increase in OI can signal increased leverage in the system, potentially leading to greater market volatility. Periods of high open interest can cause significant market movements, especially when prices shift sharply. Such conditions can trigger chain liquidations, resulting in forced selling in the spot market and causing a sudden drop in Bitcoin prices.

A similar event occurred in August when Bitcoin prices plunged nearly 20%, dropping below $50,000 in just two days. On October 21, Bitcoin hit $69,380 in early trading but faced resistance, pulling back to around $69,033. As of now, the cryptocurrency is still 6.4% short of its record high of $73,738, according to CoinGecko.

Additionally, altcoins such as Ethereum and Solana have outperformed Bitcoin in recent daily gains. Ethereum naik by 3.5%, reaching $2,750, while Solana saw a 6% gain, nearing $170. Both assets have seen a slight decline from recent record highs.

Ethereum and Solana Rally as Bitcoin Dominates

While Bitcoin has been making headlines, this has not been the case for newer altcoins like Ethereum and Solana with daily gains. Ether rose by 3.5 percent to $2,750, meanwhile, Solana rose more than 6 percent to $170. Both assets have pulled back slightly from recent record highs.

The combined dynamics of the bitcoin and altcoin markets add a layer of complexity as altcoin performance can be impacted. Bitcoin may be the star, but investors are increasingly bullish on altcoins to increase returns. As the market grows, so does interest in alternative digital assets.

However, with Bitcoin futures open interest rising, altcoins also have risks to worry about. If Bitcoin prices swing wildly, so can altcoins. For this reason, market participants should continue to check Bitcoin and altcoins for possible price movements in the coming weeks.

US Election Triggers Bitcoin Surge Amid Uncertainty

The US presidential election drove Bitcoin's recent surge. Before November 5, market players considered how the election results might affect the cryptocurrency market. Donald Trump's increasingly crypto-friendly policies paved the way for Bitcoin, which has increased its poll numbers and lifted Bitcoin.

Under the Trump administration, higher US interest rates could boost Bitcoin by weakening other currencies, according to market analysts. ‘The fact that the dollar has been strong is a factor in recent market moves, prompting traders to look for ways to hedge currency risks.’

Traders are now considering whether to prepare for election-related trading, as with 15 days until voting day, they can make that decision.

Bitcoin Prospects

Bitcoin has seen its price drop in recent weeks. This is largely due to the bearish sentiment in the cryptocurrency market as a whole. However, some special factors have also influenced the price of Bitcoin.

One of these factors is the increase in mining activity. When more miners join the Bitcoin network, this can increase the supply of new BTC. Increased supply could put downward pressure on prices.

Even though Bitcoin has experienced a price decline in recent times, many analysts are still bullish on its long-term prospects. Bitcoin was the first cryptocurrency and is still the most famous. This platform has a strong ecosystem and continues to grow.

One factor supporting Bitcoin's prospects is the increasing adoption of blockchain technology. The more companies and organizations start using blockchain, the more likely it is that Bitcoin will become the platform of choice.

Additionally, Bitcoin is developing several technical improvements that could increase its efficiency and scalability. This can increase the interest of users and investors.

Bitcoin Futures Trading Strategy and Risks

If you are interested in trading Bitcoin futures, there are several strategies you can use. One strategy is to use technical analysis to identify trading opportunities. Technical analysis involves studying price charts to look for patterns and trends.

Another strategy is to use fundamental analysis. Fundamental analysis involves studying factors that can influence the price of Bitcoin, such as mining activity, transaction costs, and technological developments.

Bitcoin futures trading can be very risky. Leverage can magnify both profits and losses. It is important to understand the risks before starting to trade.

Conclusion

Bitcoin is an attractive digital asset with long-term growth potential. However, like all investments, Bitcoin futures trading also carries risks. It is important to do research and understand the risks before starting to trade.

Bitrue has various features that you can use to do in-depth research before investing. You can check prices in real-time, check converting from BTC to USD easily, to find out about the latest BTC projects that are being carried out through the latest articles on the Bitrue blog.

About Bitrue

Bitrue is a leading cryptocurrency exchange, offering a wide range of digital assets, innovative features, and user-focused services. Founded with the mission to empower the world’s crypto enthusiasts, Bitrue continues to expand its platform with new products, events, and opportunities for users worldwide.