Investors anticipating a surge in Bitcoin and Ethereum are turning their attention to other cryptocurrencies, according to recent reports. The US inflation data falling below expectations has sparked excitement in the market, leading investors to speculate on the future of these digital assets.
One notable development comes from Santiment, which suggests that bullish investors are actively seeking buying opportunities. They are particularly interested in potential liquidations on decentralized finance (DeFi) platforms like Aave and Compound. Historically, spikes in liquidations on these platforms have been followed by forced selling, but also market recoveries as key investors seize the opportunity to buy at lower prices.
The current focus on Aave and Compound stems from the belief that their liquidations could drive Bitcoin to $70,000 and Ethereum to $4,000. Santiment emphasizes that DeFi liquidations are still relatively low, indicating room for growth in the market. The organization points to past trends where surges in liquidations led to market rebounds, highlighting the potential for significant gains in the near future.
It is important to note that this information is not investment advice. For those interested in exploring the world of cryptocurrencies further, registering with the Binance exchange can provide access to over 300 digital assets with a 20% commission discount. Stay updated on the latest news, analytics, and on-chain data by following our Telegram and Twitter accounts.
