Features Crypto News by Thebittimes.Com

Cardano (ADA) is still in negative territory, unable to rebound as the broader crypto market struggles to recover from a dramatic crash this week that led to approximately $110 billion being erased from its total value within less than 24 hours. The retreat might also be the result of increased whale selling pressure. Indeed, large holders have turned exceedingly cautious while offloading more than 350 million ADA last week. As a result, Cardano price is down 1.55% as of Thursday, October 16, trading at $0.677 at press time.  ADA 1-day price chart. Source: Finbold The daily trading volume has likewise taken a heavy blow, plummeting nearly 20% to $1.15 billion and reflecting softened market activity. Adding to the uncertainty, Cardano futures open interest has also fallen nearly 4% over the past 24 hours, as per CoinGlass data, suggesting traders are becoming less confident with taking risk bets on the asset. What’s more, traders also appear to have los...

A widely followed crypto analyst says that one Dogecoin (DOGE) competitor may be on the verge of an explosive breakout. In a new strategy session, pseudonymous crypto trader Bluntz tells his 325,400 followers on the social media platform X that the dog-themed meme asset Floki (FLOKI) is printing a bullish triangle pattern. Bluntz is a practitioner of Elliott Wave theory, which aims to predict price movements in series of waves that are based on crowd psychology. He says that Floki may have completed an ABCDE triangle, foreshadowing a strong rally once the pattern is complete. “Five days of sideways for Floki here. I reckon next leg up is pretty close now that its had time to chill for a bit.” Source: Bluntz/X Looking at his chart, the analyst suggests that Floki may eventually hit a price target of more than $0.0001600. Floki is trading for $0.0001412 at time of writing, down marginally on the day. Next up, the analyst says that Bitcoin (BTC) may p...