The cryptocurrency sector was green on Monday, as the value of all digital tokens increased by 3% the previous 24 hours to $3.13 trillion.

Bitcoin is testing $92,000 after a 3.20% uptick in the past day.

The sentiment shift comes as markets anticipate a rate cut during the December 10 Federal Reserve meeting.

Amidst the optimism, large-scale investors seem to position for short-term recoveries.

For instance, Arkham data shows whales are now buying Falcon Finance tokens, accumulating 48.43 million FF, worth approximately $5.49 million, in the last three days.

JUST IN: Whales have withdrawn 48.43 million Falcon Finance $FF, worth $5.49 million, from Binance, Bitget, and Gateio over the past three days – Arkham.

Such transactions, especially after prolonged bearish sessions, hint at a possible bounce-back.

The magnitude and speed of the latest FF withdrawals have grabbed the attention of the cryptocurrency community.

Generally, whales move substantial liquidity off exchanges when planning for long-term holding or when they discover prices too lucrative to ignore.

Thus, attention has shifted to Falcon Finance’s price chart. The digital token trades within a reliable demand region at $0.085 – $0.105.

The area has previously attracted significant buying activity and kick-started remarkable rallies for FF.

According to Arkham, the accumulation happened on three of the leading cryptocurrency exchanges that support Falcon Finance – Binance, Bitget, and Gate.io.

Meanwhile, the over 48 million tokens removed from trading platforms reduces supply.

With that, even minor buying activities can trigger price rallies, especially in tight markets.

While whale purchases do not necessarily guarantee rallies, they signal conviction.

The accumulation indicates a sentiment shift from uncertainty to curiosity.

Retail participants who exited during bearish and sideways performances are now watching again, especially as the FF price hovers at a crucial technical level.

Facon Finance’s native coin is trading at $0.1137 after gaining more than 2% in the past 24 hours.

Broad-based recovery and whale-fueled optimism keep FF afloat.

The 35% increase in its daily trading volume indicates revived appetite in the altcoin.

Notably, FF hovers inside a crucial demand region ($0.085 – $0.105), one that has previously attracted significant buying activity and served as a springboard for significant bounce-backs.  

Now, buyers are targeting the key resistance at $0.145, beyond which FF can push to the next obstacle at $0.20.

That would mean a roughly 43% uptick from Falcon Finance’s market price.

On the other hand, losing $0.105 would trigger dips to $0.085.

Bitcoin’s current hesitation supports FF’s bearish case.

Broader weakness will annul the bullish case and possibly plunge the FF price to the historic support at $0.06 – $0.07.

Analysts expect a Fed rate cut to renew sentiments across the financial sector and catalyze notable cryptocurrency rebounds.

The post Falcon Finance price outlook: whales scoop over 48M FF coins in 3-day shopping spree appeared first on Invezz

68 +