\n
<\/p>\n
The cryptocurrency market has been highly volatile lately, affecting traders who previously opened overly risky long or short positions.<\/p>\n
The popular privacy coin ZEC headed south after the correction earlier this week and, at one point, nearly broke below the $1,000 psychological barrier. However, the bulls stepped in and stopped the decline, while many analysts believe a new major uptrend could be on the way. BTC also plunged, yet several key factors suggest that the bull run could be just around the corner.<\/p>\n
On one side, there is the case of well-known trader Machi Big Brother, who grew a balance of roughly $56,000 to almost $12.5 million in just four months through aggressive leveraged trading in Ethereum (ETH). However, the strategy eventually backfired after the asset experienced serious fluctuations over the past several days.<\/p>\n
As CryptoPotato<\/em> reported<\/a>, he was “fully liquidated,” and his remaining account value collapsed to just $21,800. This happened on October 15 when ETH’s price dipped to a multi-month low of around $2,300.<\/p>\n At the other end of the spectrum is a mysterious whale whose timing appears almost flawless. The investor bought<\/a> 257,928 HYPE near the end of 2024 when the token traded at $3.50, for an initial investment of slightly over $900,000. Recently, a market participant moved more than 230,000 HYPE, worth nearly $20 million, to the crypto exchange Kraken.<\/p>\n While it remains unclear whether the stash was sold, such transfers often signal preparation for profit-taking. Meanwhile, the whale still holds 26,231 HYPE, currently worth over $2.15 million.<\/p>\n The privacy coin posted a gigantic price increase in September, reaching a ten-year high of almost $1,700. However, the bears stopped the rally and, earlier this week, pushed the valuation below $1,100.<\/p>\n Interestingly, this didn’t cause mass panic, and several analysts interpreted the pullback as a perfect buying opportunity. X Finance Bull (who sold his entire ZEC position when the price hit $1,500) said<\/a> he’s returning to the asset’s chart and fundamentals because he sees a potential setup developing.<\/p>\n Altcoins Sherpa also chipped in, describing a possible dip to $1,000 or lower as a “gift.” Shortly after, the analyst added<\/a> that they expect more short-term volatility (which they saw as healthy), followed by a massive increase.<\/p>\n Meanwhile, ZEC’s price has rebounded from its local bottom and currently trades near $1,250 (per CoinGecko).<\/p>\n The primary cryptocurrency also saw<\/a> major turbulence due to the latest US inflation data, the KOSPI index crash in South Korea, and other factors. At one point, its price dipped below the $80,000 psychological mark, sparking fears of a steeper decline ahead.<\/p>\n The red wave doesn’t automatically mean a full-blown bear market is coming next, and three key elements suggest<\/a> a rally might be on the way. First, BTC’s seasonality: October has historically been a strong month for the asset.\u00a0 Second, whales have been accumulating heavily; third, Bitcoin’s performance after the previous CPI data signals a shift. The cryptocurrency’s price has been highly volatile after each announcement, yet X user Crypto Rover noted that bulls eventually gained control each time, and Bitcoin rallied hard.<\/p>\n As of this writing, BTC is worth about $82,700, and we still don’t know whether this marks the start of a more substantial comeback.<\/p>\n The post Insane Trading Wins and Losses, Major ZEC Turbulence, and More: Bits Recap October 16<\/a> appeared first on CryptoPotato<\/a>.<\/p>\n\nZEC’s Ups and Downs<\/h2>\n
BTC’s Performance<\/h2>\n
Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"The cryptocurrency market has been highly volatile lately, affecting traders who previously opened overly risky long or short…\n","protected":false},"author":2,"featured_media":48075,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"class_list":["post-48074","post","type-post","status-publish","format-standard","has-post-thumbnail","category-crypto","cs-entry","cs-video-wrap"],"_links":{"self":[{"href":"https:\/\/financialrush.com\/index.php?rest_route=\/wp\/v2\/posts\/48074","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/financialrush.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/financialrush.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/financialrush.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/financialrush.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=48074"}],"version-history":[{"count":0,"href":"https:\/\/financialrush.com\/index.php?rest_route=\/wp\/v2\/posts\/48074\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/financialrush.com\/index.php?rest_route=\/wp\/v2\/media\/48075"}],"wp:attachment":[{"href":"https:\/\/financialrush.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=48074"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/financialrush.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=48074"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/financialrush.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=48074"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}