Investors anticipating a surge in Bitcoin and Ethereum are turning their attention to alternative cryptocurrencies, according to recent reports. With US inflation data falling below expectations, excitement has been growing in the cryptocurrency market, leaving investors eager to see if the upward trend will continue.
In a recent update, Santiment revealed that bullish investors are actively seeking buying opportunities, particularly in anticipation of increased liquidations on DeFi platforms. The focus seems to be on Aave and Compound, where investors expect liquidations to signal a bullish trend and present a chance to buy.
Historically, spikes in liquidations on Aave and Compound have been followed by forced selling, leading to market recoveries driven by strategic purchases from key investors. As a result, many bullish investors are closely monitoring these platforms as indicators for potential price surges in Bitcoin and Ethereum. Some are even predicting that Bitcoin could reach $70,000 while Ethereum could rise to $4,000.
Despite the promising signs, DeFi liquidations are still relatively low. However, Santiment remains optimistic, suggesting that any spikes in liquidations on Aave and Compound could trigger market rebounds fueled by opportunistic buying from key stakeholders.
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