New ETF cryptocurrency instruments have seen a constant inflow amid the market rise. With yesterday’s gains, Bitcoin crossed the $73,500 mark, rising to a high of $73,565. BTC’s price is now trading just 1.63% below the all-time high; however, the momentum has already confirmed the bullish market.
While the leaders have gained momentum, blue-chip cryptocurrencies like Cardano (ADA) are still lagging. ADA is training 55% down from its ATH; seeing the weakness, holders are booking profit and shifting to the hybrid platform DTX Exchange (DTX). Analysts project that DTX is going to scale rapidly in the coming months, and growth will be reflected in price appreciation.
Bitcoin Soars After Breakout From The Bull Flag Pattern
After nearly seven months of consolidation under the channel pattern, the BTC price finally broke out. Bitcoin reached its bottom on September 6th and rose by 26% before the mini-consolidation. On Monday, the BTC price gave a breakout of the flag pattern, rising 8% from the breakout point. With the technical breakout, the Bitcoin ETF also saw a massive inflow, increasing the BTC price.
The U.S. Bitcoin-spot ETF market saw net inflows of $164.2 million recently, down from $402 million on Friday, October 25. Overall, October has been a strong month for Bitcoin ETFs, with total net inflows reaching $3.3 billion. In comparison, September saw $1.26 billion in inflows in Bitcoin ETFs, while August had net outflows of $92.2 million.
Cardano (ADA) Struggles With Weak Strength
While major cryptocurrencies are trading near the upper band of the relative strength index, Cardano (ADA) is just in the neutral zone, with an RSI of 53. Cardano is struggling below the $0.37 resistance zone. ADA price experienced a recent shakeout on Friday but recovered swiftly, rising 11%. Despite the rise, the ADA price has been negative for the month.
Also, Cardano is trading near the 52-week low despite the bullish momentum in the market. Traders have already booked their positions in Cardano and are venturing into DTX’s presale, which is exploding with 300% gains already.
Whales Entrees DTX Presale In The Fourth Stage
DTX Exchange raised $6 million in the fourth stage of the presale in four days; it achieved the milestone with the entry of Bitcoin and Cardano whales, totaling $750k inflows last week. The announcement and countdown for the Phoenix wallet contributed to the high demand. With Phoenix wallet, users will be able to send, receive, and borrow cryptocurrency with high security.
DTX Exchange blends the features of centralized and decentralized exchanges, providing traders with an end-to-end solution. With all the useful features available, the DTX platform aims to meet all traders’ needs. DTX Exchange provides multi-asset trading with over 120,000k instruments available on the platform. The cherry on top is the 1,000X leverage, so with $100 capital, you can trade $100,000 worth of position.
With its technological advancement, DTX focuses on the community, helping users earn extra income through the VIP Rebate program. This program allows users to earn up to 3% of the exchange’s revenue, creating an extra source of income for active members.
Currently, each DTX token costs $0.08, which is a good entry point for investors who want to join this high-growth token. Price action analysts see DTX reaching $1.5 by early 2025, providing a massive 1,775% upside potential. With this projection, $500 invested at the current level could turn into nearly $10,000.
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