Over the past week, Bitcoin’s price has surged by over 4%, pushing past its critical resistance level of $69,995 and crossing above the $70K mark. Additionally, BTC recorded high trading volumes, suggesting increased market sentiments as Bitcoin’s price eyes the $80K mark. This uptick in BTC’s price has also boosted other altcoins, including Sui (SUI).
Sui price is currently on a bullish trend, with a monthly surge of over 9%. Moreover, a new meme coin within the Ethereum blockchain is also eyeing greater rallies. Cutoshi, backed by its hybrid DeFi ecosystem, is already offering over 46% ROI to early investors in just stage two of its presale.
Cutoshi’s DeFi Ecosystem Positions It As The Next Breakout Star
Since the start of its presale and its recent CMC listing, Cutoshi has been turning investors’ heads for a good reason. Inspired by the Chinese Lucky Cat while adopting Bitcoin’s founder’s core principles of decentralization, Cutoshi is quickly becoming a symbol of luck and wealth, aiming to bring success to its investors’ portfolios.
The project is also backed by a fully-fledged DeFi ecosystem that goes beyond the typical meme coin flair. The Cutoshi DEX will simplify asset trading across multiple chains, saving users time and money. The Cutoshi Academy aims to empower seasoned traders and crypto newbies, making blockchain learning easily available to everyone.
To create an engaging platform, Cutoshi also features a farming protocol that is set to launch soon. This will provide its community with an additional way of earning rewards by completing quests and claiming rewards. This feature, backed by Cutoshi’s built-in scarcity, is set to push the CUTO price to a new ATH in November.
Bitcoin Price Prediction: Is $80K Closer Than We Think?
Peter Brandt, a crypto trader, has highlighted the current technical setup for BTC, projecting Bitcoin’s swing target by analyzing a descending triangle breakout. This pattern, which formed throughout 2023, shows BTC breaking out and likely continuing its surging momentum.
Source: TradingView
Besides, Brandt’s analysis also showcases a measured target of $94k, drawn from the triangle’s breakout level within a semi-log scale, reflecting bullish momentum. His analysis also aligns with Bitcoin’s historical market cycles, which suggest that BTC halving, which occurs every four years, normally leads to a significant rally in Bitcoin’s price.
Currently, the price of BTC is hovering around the $70K mark, reflecting a monthly surge of over 12%. Its RSI is at 62, as both the 10- and 20-day MA are below its current price, reflecting a bullish outlook. Moreover, Bitcoin’s recent breakout historical context and technical patterns present an optimistic market outlook as BTC price eyes the $80K mark in the coming month.
Sui Price Records A Surge: Is $2.3 A Possibility?
Sui’s price performance has regained a bullish outlook following recent developments and Bitcoin’s surging trend. The price of Sui has already seen a weekly surge of over 2% to trade around the $2.0 mark. Recent developments, such as the SUI collaboration with Google Cloud, supported by ZettaBlock, aim to redefine how developers interact with blockchain data.
Source: CoinMarketCap
This unique partnership will enable real-time access to SUI’s blockchain data via Google Cloud’s Pub/Sub service, opening the door for better innovation, including fraud detection and efficient yet fast gaming transactions. This move, backed by the current bullish market cycle, is set to push Sui’s price closer to its ATH of $2.36, reached on October 13.
Sui’s RSI is currently at 54, above the neutral level of 50. This suggests that SUI’s bullish trend is gaining traction. Its TVL also increased from $892M on Monday to $1.01B on Wednesday, which represents the highest gain since October 24. A surge in TVL supports an uptrend momentum by indicating that more users deposit or use assets within the SUI-based protocols.
Will Cutoshi Mirror BTC Price Performance?
Bitcoin continues to stand out as the best crypto investment. This is attributed to the coin’s market resilience, which has seen it record better price performance over the years.
However, just like Sui, Cutoshi aims to emulate such a performance throughout its presale stages. With its built-in scarcity and the recent hype surrounding meme-based tokens, Cutoshi will certainly record impressive price performance in the coming months.
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