As the first-ever hybrid blockchain, DTX Exchange (DTX) has shocked investors with its rapid growth in the volatile crypto market. Joining the broader market sentiment, Shiba Inu has also shown similar performance metrics.
However, BTC price faced retraction after hitting a new $99,645 ATH on November 22.
Bitcoin Price To Crash Below $88,000?
Bitcoin price correction may continue further to $88,000 and below if it follows the Global M2 money supply correlation. BTC has already corrected more than 9% in the last four days following the rejection sub $100K level. Market analysts believe this correction will likely continue further as part of the BTC rally cooling off amid profit booking by long-term holders.
Global M2 Money Supply Correlation
Historically, the Bitcoin chart has always followed the Global M2 Money correlation and the recent Bitcoin correction is in tune with the global liquidity parameter. Since September 2023, BTC price movement has closely mirrored the M2 supply with a lag of 70 days, as per popular analyst Joe Consorti.
In a recent update, Consorti highlighted the correlation’s accuracy, noting that Bitcoin price dropped $5,000 within a day, aligning with patterns set by global M2 weeks earlier. The analyst warned that if this trend continues, Bitcoin could face a 20-25% correction from its recent highs of $99,000.
Analyst Claims Potential Breakout For Shiba Inu Price
Shiba Inu is moving on the edge of a major breakout, with analysts forecasting a potential surge to $0.00003255. The critical pattern to watch is a tightening symmetrical triangle, signaling a decisive move is imminent.
This analysis was shared by a well-known cryptocurrency influencer and analyst who frequently posts market insights and opinions about crypto assets, Carl Runefelt, on X. The forecast hinged on Shiba Inu breaking above the upper trendline of this triangle formation, as shown in the chart he shared.
Source: TradingView
The chart clearly depicted this symmetrical triangle, formed by converging trendlines drawn along a series of lower highs and higher lows since mid-November. This pattern suggested a period of consolidation, where neither bulls nor bears have definitively taken control. The apex of the triangle, where the trendlines meet, represents the potential breakout point expected to occur in the near future.
New Hybrid Exchange Sparks Excitement With $8.7M Presale Rally
DTX Exchange (DTX)’s presale has made headlines after securing a record-breaking milestone of $8.78 million in its 5th presale round at $0.10 per token. The platform incorporates state-of-the-art infrastructure and cutting-edge L1 blockchain technology to offer insane trading options and premium features to offer an unmatched trading experience to its users.
This deFi project enables users to trade cryptos, forex, equities, and contract-for-differences (CFDs). With access to over 120,000 assets across crypto, stocks & bonds, forex, and commodities, DTX holders experience the peak of high-velocity trading with no downtimes and KYC-free trading irrespective of the high-volume transactions.
DTX Exchange Set To Skyrocket With a CEX Listing Soon
The surging demand for this deFi crypto has taken DTX Exchange (DTX) to new highs and has given it a strong following on crypto platforms. After DTX Exchange’s listing went live on data aggregating platform CoinMarketCap, bullish investors have injected millions into its skyrocketing presale, which has already sold 77% of the circulating supply to date.
With rumors of the Bitcoin price dropping below its current bullish sentiment, it is likely that Shiba Inu and DTX Exchange (DTX) have the golden opportunity to skyrocket their market value by 25x, so the investors seeking shelter from Bitcoin’s rumored decline can join these cryptocurrency networks to regain the lost capital and aim for massive profits. Join now!
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Disclosure: This is a sponsored press release. Please do your research before buying any cryptocurrency or investing in any projects. Read the full disclosure here.
