In the ever-changing landscape of the cryptocurrency market, Bitcoin, Ethereum, and Solana are exhibiting signs of a potential reversal in higher time frames. After a prolonged period of tension and price consolidation, these leading assets are now stabilizing at critical structural support levels. Notably, several major cryptocurrencies are signaling similar recovery setups simultaneously.
The present crypto environment might be on the verge of one of the strongest high-time-frame reversals seen with Bitcoin, Ethereum, and Solana. A well-known investor and trader, MacroCRG on X, pointed out that yesterday, all three assets formed a bullish engulfing candle, a potent indication that buyers are re-entering the market with purpose.
Market Leaders Indicate A Change Before Smaller Assets Follow Suit
On the weekly chart, each asset is beginning to show the early signs of an inside-week breakout, accompanied by a false breakdown. MacroCRG highlighted a similar pattern in the ES (S&P 500 futures) chart from April, where the breakdown of the inside-week structure paved the way for a breakout that never looked back once the bulls secured the weekly close.
Related Reading: Institutions Exit Bitcoin In Large Tranches, Ethereum, Solana And XRP See Massive Buy-Ins
For this setup to succeed, prices need to close the week above the highlighted key highs on the chart. However, considerable efforts remain before the weekly close can confirm the breakout, as the bulls must demonstrate conviction and eliminate doubts.
The founder of the ProMintClub investment community, ProMint, has identified a highly confident whale trader who is aggressively building long positions throughout the crypto market. Currently, this trader leads the Lighter leaderboard with over $64 million in profit and loss, maintaining an 83% long bias. His Lighter account shows the highest profit and loss with over $8 million, reflecting impressive numbers compared to others on the leaderboard.
Data reveals that the trader has made five deposits into his Lighter account, totaling approximately $6 million in capital. His positions span across BTC, ETH, SOL, AAVE, along with smaller investments such as PAXG and PUMP, consistently entering at optimal timing and capitalizing on momentum for gains.
Despite funding costs having turned heavily negative, he remains undeterred. Currently, this is the top-performing account on Lighter, showcasing serious capital deployed with strong conviction.
How Increased Partnerships Fuel Ongoing Volume Demand
According to Chainflip Labs, November proved to be one of the strongest performance months in the protocol’s history, achieving over $583 million in swap volume, marking the second-best month ever for the network.
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Demand has remained steady across BTC, ETH, and SOL routes, with more partners than ever routing flow through the network. This trend clearly indicates that Chainflip is poised for continued scaling.
Featured image from iStock, chart from Tradingview.com
