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Cardano (ADA) is showing significant signs of reclaiming the psychological price of $1 if it follows in the footsteps of BNB. Renowned market analyst Ali Martinez acknowledged, “If BNB is front-running the market, we should expect a similar price action for Cardano.” Source: Ali Martinez Therefore, if this analysis is successful, ADA will return to the $1 price level. With its uniqueness tied to its proof-of-stake (PoS) consensus mechanism called Ouroboros, Cardano verifies transactions by splitting them into smaller epoch chains, making the network infinitely scalable. As a result, Cardano has become one of the sought-after blockchains in terms of development. Is Cardano’s Parabolic Rally on the Horizon? According to Martinez, Cardano might be experiencing the calm before the storm since, based on historical data, the ninth-largest cryptocurrency has all it takes to surge to the $15 zone. The analyst pointed out, “Looking back at history, Cardano seems to be repeating the same pattern from 2020 to 2021 at a slower pace, which could soon lead to a parabolic rally.” Source: Ali Martinez Martinez added that if ADA is able to sustain a close above $0.73, then the altcoin is in for an upswing. At the time of writing, Cardano was hovering around the $0.782 zone, according to CoinGecko data. Meanwhile, Cardano founder Charles Hoskinson recently suggested using the network as an audit layer for the U.S. Treasury’s $7 trillion budget.

It’s safe to say that bitcoin went through one of its most painful 24 hours as the asset plunged by over 10%, which in terms of USD meant a $10,000 decline. Such massive volatility not only brought the entire crypto market down but caused mind-blowing liquidation numbers of $1.6 billion on a 24-hour scale. One particular wrecked position, though, caught many people’s attention. Data from CoinGlass shows that nearly 390,000 traders have been wrecked in the past day. Naturally, almost all of the $1.59 billion in liquidations was caused by longs, as they comprise roughly 90% of the total ($1.43 billion). A single whale, though, operating on the Justin Sun-affiliated exchange, HTX, was hit the hardest during this most recent crash by losing $39.62 million. This largest liquidation order involved the BTC/USDT trading pair and represents over 5% of all bitcoin positions that were wrecked today. Cryptocurrency Liquidations. Source: CoinGlass This comes amid a highly volatile and painful day for the cryptocurrency market. Bitcoin’s price started to head south yesterday afternoon, despite Strategy’s most recent purchase, and slipped from $96,000 to $94,000. However, the real turmoil came today as the cryptocurrency plunged to $86,000, which became its lowest level since mid-November. Moreover, BTC’s losses since Friday have extended to over $13,000, and here are some of the potential reasons behind this massacre. After losing such a substantial chunk of its value within mere days, analysts are now torn about whether this is a regular correction during a bull market or it’s all over for this cycle. Ali Martinez noted that BTC has broken down from a parallel channel that started in November. He envisioned an even more steep crash that can take bitcoin south to $80,000. Consequently, he advised investors to be wary as there might be a more favorable time to ‘buy the dip.’ The post Someone Was Liquidated for $40 Million as Bitcoin Slumps by $10K Daily appeared first on CryptoPotato.

TL;DR Solana (SOL) fell below $140 amid a broad crypto correction, whale sell-offs, and other setbacks. Despite the drop, the asset’s oversold RSI (15.9) and market optimism signal a possible rebound and buying opportunity. The Potential Factors Solana (SOL) was at the forefront of gains at the start of the year, with its price soaring to a new all-time high of over $285 on January 19. This happened one day before Donald Trump’s inauguration as America’s 47th President, which supposedly triggered huge excitement across the entire crypto space. Since then, though, the asset has been experiencing a downfall. The price has tumbled by 19.5% in the last week, currently trading at roughly $137. Its market capitalization has collapsed to approximately $67 billion, making SOL the sixth-biggest cryptocurrency. SOL Price, Source: CoinGecko Perhaps the most evident reason contributing to the pullback is the severe correction of the crypto sector. As CryptoPotato reported, the past 24 hours have not been kind to Bitcoin (BTC), whose price slipped below $87,000. The altcoins suffered even more substantial losses, while the total value of liquidated positions for that timeframe equaled more than $1.5 billion. Another factor that may have negatively affected SOL’s performance could be the potential selling pressure triggered by Wintermute. Several X users noted that the proprietary trading firm has withdrawn large amounts of Solana from Binance lately. The effort comes a few days before a massive token unlock, which is set to release over 11.2 million SOL into circulation on March 1. The increased supply could result in a further price slump, assuming demand doesn’t keep pace. Last but not least, we will focus on the whales’ activity. According to X user Ali Martinez, 135 large investors (holding more than 10,000 SOL) have sold or redistributed their holdings in the last month. As mentioned above, a sudden influx of tokens for sale can overwhelm available demand. Additionally, the whales’ actions could be perceived as bad news from smaller players who may also decide to cash out. The Bright Side Despite the significant correction, many market observers remain optimistic that SOL has the potential to return to the green track soon. The X user Lucky told his over two million followers on X that “there’s no need to panic.” They believe the asset could rise “much higher” in the near future, viewing the current price condition as “a fantastic deal.” Meanwhile, SOL’s Relative Strength Index (RSI) plummeted to a multi-year low of 15.9, which suggests that the token might be oversold and due for a rebound. Conversely, readings above 70 indicate that SOL has entered into overbought territory and could be headed for correction. The post 3 Reasons Why the Solana (SOL) Price Crashed by 20% Weekly appeared first on CryptoPotato.

Solana (SOL) has been slipping, seeing a big drop in price and activity. Over the last month, SOL is down almost 40%, and the price is now around $140.54. That’s a steep drop from its 2024 high of $264. While the price crash was part of a bigger market downturn, investors are wondering if SOL can bounce back. Blockchain analysis platform Lookonchain reported that a whale unfroze 1,366,028 SOL (worth about $198 million) and sent it to FalconX. Then, FalconX sent 440,202 SOL ($62.6 million) to exchanges, Binance and Coinbase. This looks like a possible sell-off, adding to negative feelings in the market. Another big worry is the huge drop in Solana’s total transfer volume. Analyst Ali Martinez notes SOL’s transfer volume has plunged from $1.99 billion in November 2024 to just $14.57 million by February 23. This massive drop in activity shows less investor confidence and weaker network use. In another X (formerly Twitter) post, Martinez also noted that “SOL investors appear to be in a state of fear,” reinforcing the current bearish sentiment surrounding the asset. Related: Solana Whales Bet on Price Drop: Put Options Spike Before Token Unlock The 20-day Exponential Moving Average (EMA) for SOL is at $175.78, way above the current price. This difference shows strong downward momentum. SOL needs to get back above this level for any real recovery. The daily chart from TradingView also confirms SOL’s bearish state. The Relative Strength Index (RSI) is currently 26.07, as seen in the chart. This means SOL is oversold. Usually, an RSI below 30 suggests an asset is very undervalued and might see a short-term rise. However, the strong downtrend could limit any recovery. Related: Crypto Market Plunges to “Extreme Fear” – Time to Buy? Further, SOL is trading near the lower Bollinger Band at $140.32. This indicates SOL is experiencing high volatility and is testing a key support zone at $140. If this level breaks, the price could fall further. Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.

According to analyst Ali , long-term Bitcoin holders have reversed their behavior from selling to accumulation, reflecting increased market confidence. After a flash sell-off, data shows that they accumulated about 20,400 BTC. The shift can be seen as a green bar on February 23, 2025, reflecting the shift. Bitcoin’s price hit $96,292.85, reflecting strong demand and an upward trend. Between October and mid-January, long-term Bitcoin holders continuously reduced their positions. The red bars highlight these outflows. The most selling occurred in December when net position changes reached their lowest point. Meanwhile, The fact that Bitcoin’s price increased suggests that these investors took advantage of the market’s strength . Selling pressure increased as Bitcoin’s price rose. This pattern suggests that long-term holders took profits amid rising demand. However, by mid-January, the selling momentum slowed. The red bars shrank, indicating a decline in net outflows. Bitcoin’s price stabilized between January and early February. It moved sideways with minor fluctuations, suggesting equilibrium in supply and demand. Consequently, long-term holders gradually reduced their selling activity. On February 23, 2025, the trend shifted. The red bars disappeared, replaced by a small green bar. This shift confirmed that long-term holders resumed accumulation. Their renewed confidence aligns with Bitcoin’s sustained upward trajectory . If accumulation continues, further price appreciation may follow. Long-term holder’s behavior influences market cycles, impacting price trends. Historically, they sell during strong rallies and accumulate when prices stabilize. The current transition suggests a bullish sentiment among investors. Additionally, the market’s ability to absorb selling pressure highlights robust demand. Moreover, a possible trend reversal is indicated by the presence of a green bar. Strengthening buildup may result in a shortage of supply, which would raise prices even further. DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.