Cryptocurrencies experienced a significant drop from last evening to this morning. During this period, the BTC price fell below $60,500. Subsequently, the price recovered slightly and is trading above $61,900 at the time of writing. Meanwhile, one of the closely followed analysts in the cryptocurrency world suggested that a DeFi token within the Ethereum (ETH) ecosystem is ready to reach higher levels.
CRV Comments
An analyst named Credible Crypto made important statements on the social media platform X. He stated that the local token of the stablecoin-focused decentralized exchange Curve DAO, CRV, could move to much higher levels after locking a total of 900 million CRV assets.
This is almost one-third of all CRV that will ever exist (3.3 billion maximum supply) and 43% of the current supply. Most will remain locked forever. This means that one-third of all CRV (43% of the current total supply) is essentially ‘burned’ and permanently removed from the market.
At the time of writing, the CRV price was moving in the opposite direction of the market. After a 2.25% increase in the last 24 hours, the price is finding buyers around the $0.281 region.
What Will Be the Bitcoin Price?
The analyst was seen examining Bitcoin after CRV. His comments on Bitcoin were more pessimistic, indicating a downward trend.
I don’t think this correction is over yet, but I think we can relax a bit. The ideal scenario is below.
According to the trader’s shared chart, Bitcoin could rise to $68,000 from current levels before a correction to the $56,000 level. BTC is trading at $61,900 at the time of writing, with a negative price change of 5% in the last 24 hours.
What Is the WIF Price?
Finally, the analyst made statements about dogwifhat (WIF), indicating that WIF, which is at the peak of dog-themed meme coins on the Solana network, will remain in a downtrend unless it turns the resistance at $2.40 into support.
We are back inside the range, now let’s rip off the band-aid. To all the dogs out there, let the hat be WIF for you.
According to the trader’s shared chart, there are comments suggesting that the WIF price will fall below $1.20.
At the time of writing, WIF is trading around the $1.70 region after a drop of over 10% in the last 24 hours.
