- The crypto market is dipping in a “risk-off” reaction to news of Israeli airstrikes on Iran
- Despite the dip, on-chain data shows whales are accumulating specific altcoins
- For instance, whales have loaded over $120 million in Cardano (ADA) by this time
While the market briefly rallied on news of a nearly-settled U.S.-China trade deal, escalating geopolitical tensions following Israeli airstrikes on Iran have reversed sentiment and put the crypto market under bearish pressure once again.
Bitcoin continues to dip, testing key support levels; however, while the geopolitical turmoil is sparking a broad “risk-off” move, on-chain data reveals crypto whales seem to be making their next big move. One analyst has listed a few whale-favourite altcoins that could be gearing up for a rally soon.
Altcoin 1: Cardano (ADA)
In the last few days, whales have bought over $120 million worth of Cardano (ADA), according to whale alert. At the same time, Bloomberg Intelligence raised the chances of a Cardano ETF approval to 75% by 2025.
On the price side, the analyst said that Cardano may drop to the $0.58–$0.60 range if Bitcoin continues to fall.
Related: Gold Eyes All-Time High While Altcoins Correct: Is the Crypto Rally on Hold?
If support holds there, ADA could see a rebound, but if not, prices might slide further to around $0.50–$0.45. At the time of writing, ADA is trading at $0.63.
Altcoin 2: Hyperliquid (HYPE)
HYPE is currently one of the popular tokens in the market, attracting heavy buying activity from major investors. Two whales purchased a combined $14.9 million worth of HYPE, one buying at $38.5 and the other at $39.1. Both are reportedly staking their tokens, showing long-term confidence.
If HYPE continues holding support between $40.6 and $40, it could maintain its bullish momentum and aim for $45 in the near term. However, if the price dips below $39-$38 and fails to recover, it could signal a weakening trend.
Related: Trump Talks Tariffs, Bitcoin Slips: These Two Altcoins Gear Up for Liftoff
Altcoin 3: Ethereum (ETH)
Ethereum (ETH) has officially pulled ahead of Bitcoin in futures trading activity. Over the past three days, ETH has consistently topped Bitcoin in daily trading volume and is now seeing about 1.5 times more futures trading than BTC. BlackRock recently purchased around $163.6 million worth of Ethereum and money has started to rotate from Bitcoin into Ethereum.
If Ethereum can reclaim the $2,800 mark and stay above it on a daily closing basis, analysts believe the price could aim for $3,200 and possibly $3,600 in the coming weeks.
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