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Crypto traders are talking about SOL price falling due to the risk of FTX selling its $1.16 billion Solana stake. Are they over-exaggerating? For a long time, Solana (SOL) has been associated with the founder of now insolvent crypto exchange FTX and hedge fund Alameda Research, Sam Bankman Fried. He was an early investor in the project and invested in numerous Solana ecosystem projects during the 2020-2021 bull mania. So when FTX collapsed toward the end of 2022, Solana and other “Sam coins” plummeted significantly, falling to lows of $9.89 — down 96.3% from the peak of $259.96. Since the start of 2023, Solana’s price staged a recovery to gain 175% to reach a peak of $27.37 as the ecosystem also witnessed growth. However, more recently, SOL came under tremendous selling pressure after the Delaware Bankruptcy Court approved the sale of FTX’s digital assets, which includes 55.75 million SOL worth $1.062 million. However, the unlock schedule of FTX’s holdings and derivative market posit...

BTC price upside is likely limited, market participants argue, with Bitcoin pinned below $27,500. Bitcoin (BTC) bounced near multiple support trend lines into June 2 as market indecision remained in force. BTC/USD 1-hour candle chart on Bitstamp. Source: TradingView Traders bet on $27,500 BTC price ceiling Data from Cointelegraph Markets Pro and TradingView showed BTC/USD hitting lows of $26,519 on Bitstamp after the daily close. The pair showed little signs of trend change as a stalemate between bulls and bears continued to produce little volatility. The collection of moving averages (MAs), as well as the short-term holder (STH) realized price, near $26,000 thus stayed untested on intraday timeframes. Analyzing the current setup, popular trader Crypto Ed considered the potential for upside topping out at $27,500. “I do think we go down, but as long as we do not break that $26,000, there is a chance for a bullish surprise ,” he said in a YouTube update on the day. To break the curre...

Bitcoin has the ability to tackle the $17,000 mark for the first time in 2023 should stocks start the year right, say traders. Bitcoin (BTC) inched closer to $17,000 on Jan. 3 as the first Wall Street open of the year loomed. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Consensus builds for fresh attack on $17,000 Data from Cointelegraph Markets Pro and TradingView showed BTC/USD reaching highs of $16,766 on Bitstamp — its best performance since Dec. 27. Analysts and traders were keenly awaiting the start of Wall Street trading after European stocks posted gains the day prior and United States futures followed suit. As Cointelegraph reported, both equities and gold had looked considerably more appetizing than Bitcoin since the FTX meltdown in November. “If BTC is finally ready to join the party, I could see it run to 17.3K~ as drawn below,” popular trader Crypto Chase wrote in part of Analysis on Jan. 2. Fellow account Cold Blooded Shiller likewise posted $17,300 as a...