1 inch, Celsius (CEL) and PancakeSwap (CAKE) rally as traders revert to DeFi


Bitcoin’s (BTC) beach-related action since it crashed at the $ 61,000 level has baffled analysts. Some predict that a sharper correction could be developing while others remain firm in their belief that the uptrend will resume shortly.

According to data from Ecoinometrics, history suggests that the price of Bitcoin bursts between 300 and 350 days after the supply is halved. Currently, 329 days have passed since the last halving, and if history repeats itself, Bitcoin may soon see a breakout.

Daily view of Crypto market data. Source: Room360

An encouraging sign of this most recent market-wide selloff is that traders see it as an opportunity to buy rather than panic. This suggests that sentiment remains optimistic. Glassnode data shows that $ 476 million worth of stablecoins have been deposited into exchanges, possibly with the intention of buying the downside.

As Bitcoin’s next move is constantly evolving, several altcoins tend to rise. Let’s take a look at three tokens that could outperform the markets in the short term.