Bitcoin’s price has recently struggled to close above the $70,000 mark, a critical level needed to gain momentum toward its all-time high. Despite several attempts, BTC has been unable to maintain a solid footing above this barrier, which has slowed the bullish momentum. 

However, there are signs that larger holders may be stepping in, which could create the conditions for a renewed push.

Bitcoin Whales Are Driving the Optimism

According to recent data from Santiment, retail traders appear to be offloading Bitcoin, with whales seemingly capitalizing on the dip. This shift in trading behavior is significant, as it suggests that larger players are accumulating BTC while retail traders reduce their holdings. Wallets holding 100 or more BTC have grown by 1.9% over the past two weeks, signaling that whale accumulation is underway.

This uptick in large wallet addresses is a bullish indicator. When whales accumulate, it generally reflects confidence in the asset’s potential for future growth. 

“ As the largest key stakeholders in crypto continue to scoop up more coins from dumping retail traders, this historically leads to bullish outcomes,” stated Santiment.

Read more: What Happened at the Last Bitcoin Halving? Predictions for 2024

Bitcoin’s macro momentum is showing strong signs of support, particularly in terms of capital inflows. Net inflows into Bitcoin have accelerated, rising by 3.3%, or approximately $21.8 billion, over the past 30 days. This surge has pushed Bitcoin’s Realized Cap to a new all-time high of over $646 billion, indicating that substantial capital is entering the market.

The rise in Bitcoin’s Realized Cap demonstrates a growing liquidity base across the asset class. This influx of meaningful capital underpins BTC’s price increase, as larger inflows suggest sustained interest from both institutional and retail investors. The heightened liquidity provides a cushion against volatility, reducing the likelihood of sharp sell-offs and supporting the asset’s upward trajectory.

BTC Price Prediction: Aiming High

Bitcoin is currently trading at $67,553, with efforts to close above the $70,000 mark ongoing for the past ten days. Securing $68,248 as support is essential for BTC to move toward the next resistance at $71,367, a level that could determine the path to a new high.

The uptrend line has served as a consistent support, suggesting that a move to this resistance could unfold over the next few weeks. The whale accumulation pattern reinforces this bullish outlook, indicating that a rise in BTC’s price may be on the horizon, regardless of the timeframe.

Read more: Bitcoin Halving History: Everything You Need To Know

However, if Bitcoin loses the support of its uptrend line and slips below $65,292 due to macroeconomic factors or profit-taking, the bullish thesis would be invalidated. Such a drop could send Bitcoin to $61,868, marking a potential setback and creating further uncertainty around its price direction.

Injective (INJ) may soon join the Artificial Superintelligence Alliance (ASI) group, which comprises Fetch.ai, SingularityNET, and Ocean Protocol.

It comes amid plans to integrate Injective with Fetch.ai to facilitate cross-chain transfers.

Injective and Fetch.ai Integrate For Cross-Chain Transfers

The integration comes after the Fetch.ai community unanimously voted to substitute the inter-blockchain communication (IBC) blockchain interoperability protocol light client for Injective. This move will enable seamless cross-chain transfers between the Fetch.ai mainnet and Injective.

“This upgrade will enhance interoperability, making it easier to transfer assets between networks and strengthening ecosystem integration. In addition to expanding DeFi opportunities, this proposal highlights the stability and strong governance of our community,” one Web3 enthusiast MDCrypto on X noted.

The community also approved a software upgrade proposal for a CUDOS network merger due on October 27. This means that CUDOS will join the Artificial Superintelligence Alliance (FET) on Sunday.

“Both proposals have 100% approval and reached quorum 40 hours after submission,” Fetch.ai noted.

Read more: How To Invest in Artificial Intelligence (AI) Cryptocurrencies?

With this unanimity threshold, the decision reportedly marks the highest overwhelmingly supported proposals ever. BeInCrypto reported about this possibility in September, with the alliance due to gain decentralized computing from CUDOS. This will enhance AI efficiency while reducing vulnerabilities.

Additionally, the Injective network corroborated the report about an expected Fetch.ai integration. It indicated that “the official on-chain governance proposal to integrate Fetch and Injective is now live.” Further, the post also alluded to this integration going slightly beyond cross-chain transfers, with INJ tokens likely to join the ASI token alliance as well.

In hindsight, Fetch.ai and Singularity.NET jointly set the foundation for the Artificial Superintelligence Alliance with a $153 million investment in GPU hardware earlier in the year. The alliance’s mission is to provide the computational power required for large-scale AI and machine learning applications.

Bringing Cudos’ global distributed computing network to the mix would introduce more contemporary AI GPUs. As for the potential enlisting of INJ, Injective can deliver an active and efficient trading platform for activities related to artificial intelligence (AI) technologies and other emerging sectors. This could include trading AI-based assets, tokens, or derivatives that represent different aspects of the AI industry.

Read More: How Will Artificial Intelligence (AI) Transform Crypto?

Amidst these developments, BeInCrypto data shows that the INJ token is up by a modest 0.62% on this news, to trade for $20.20 as of this writing.

Dogecoin (DOGE) price has risen by 27% over the past month, leading meme market gains. Interestingly, despite the double-digit price hike, a key on-chain metric signals that the meme coin remains undervalued, presenting a buying opportunity for market participants. 

If demand strengthens, Dogecoin’s price may extend its gains in the near term. Here is why.

Dogecoin Flashes Buy Signal

Dogecoin’s market value to realized value (MVRV) ratio, which measures the overall profitability of all its holders, shows that the altcoin is currently undervalued. This is happening despite the 27% spike in its price over the past month.

As of this writing, the coin’s 60-day MVRV ratio is -8.18%. A negative 60-day MVRV ratio indicates that Dogecoin’s current market price is below its average over the past 60 days. 

Read more: Dogecoin (DOGE) Price Prediction 2024/2025/2030

Negative MVRV ratios historically represent a buying signal. They suggest that the asset is being traded below its historical acquisition cost, thus creating a buying opportunity for traders looking to “buy low” and “sell high.”

Traders have seized upon this bullish indicator, with DOGE’s spot market recording its first net inflow in seven days. According to Coinglass data, the inflow into the meme coin’s market on Friday totals $2 million. This comes after seven consecutive days of spot market net outflows, which exceeded $35 million.

Spot inflow is a bullish signal. It indicates that investors are confident in Dogecoin’s mid/near-term prospects and are willing to hold it as an asset. 

DOGE Price Prediction: This Crucial Support Must Hold

At press time, Dogecoin trades close to the crucial support level of $0.137. With increased inflow into its spot market, bulls are positioned to defend this price point, potentially initiating an uptrend if demand strengthens.

The coin’s bullish sentiment is further supported by its bull-bear power (BBP) indicator, which measures buying and selling pressure in the market. Currently, the BBP sits at 0.0033, suggesting bullish momentum. When this indicator is positive, the bulls control the market.

If bulls maintain their grip, they could drive Dogecoin’s price towards the resistance level at $0.154. A successful breakout above this threshold would allow the meme coin to reach $0.172, a high not seen since May.

Read more: How To Buy Dogecoin (DOGE) and Everything You Need To Know

However, if demand wanes and the $0.137 support level fails to hold, Dogecoin’s price could drop significantly towards $0.112.