When Bitcoin starts to fall again, profits from DeFi tokens will be affected and this is why DeFi modifies the market to amplify selling pressure on DeFi tokens, especially when the TH / BTC pair weakens. short term in the last 2 days.
- Both the big DeFi token and the smaller market cap cryptocurrency are struggling to rebound against Bitcoin over the weekend.
- Typical DeFi assets include Aave (AAVE), SushiSwap (SUSHI), Uniswap (UNI), Maker (MKR), Compound (COMP), and Synthetix (SNX).
- Big DeFi tokens with a slightly smaller market cap are Alpha Finance (ALPHA), Yearn.finance (YFI), and 0x (ZRX).
However, the cryptocurrency market is moving rapidly and therefore market dynamics could change rapidly in the coming days, especially with the launch of ETH CME futures contracts on Monday.
At the same time, another DeFi rally could be triggered when Bitcoin’s price breaks above $ 40,000 and consolidates in the range 41,000 to an all-time high of $ 42,000. For this to happen, ETH will have to catch up to Bitcoin and regain momentum above $ 1,700 in the short term. Currently, ETH is following Bitcoin and the ETH / BTC pair is struggling to recover.
ETH regaining $ 1,700 as an area of support will be the main factor determining the trajectory of the DeFi market in the near future.