Recent crypto news shows that Bitcoin and Ethereum are currently struggling to regain bullish momentum after breaking below their long-term supports.

This development has triggered a primary selling wave that is currently continuing to push prices downwards.

Now, analysts and traders are starting to speculate about when the downtrend will end. 

Meanwhile, on-chain analysis shows that despite the general market weakness, tokens in the PayFi narrative are experiencing explosive activity.

One particular PayFi altcoin catching investors’ eyes for its strong performance is Remittix, a payments solution native to Ethereum.

Bitcoin’s price remained above $100,000 for a long time, leading investors to believe that nothing could drag it below that level, at least until the end of the year.

However, this confidence has proven to be sorely misplaced, as not only has Bitcoin’s price fallen below the $100,000 support level, but it has also continued its freefall, all the way down to 86,361. 

It’s more bad news for BTC holders, as analysts believe the downtrend is not over. According to Peter Brandt, a respected analyst in the crypto space, Bitcoin is forming a broadening top pattern, which often signals a sharp decline.

Peter also stated that the closest feasible support for Bitcoin’s price is at the $81,000 level, and if that also fails, we may see BTC dump to the $58,000 range.

But it’s not all bad news. Some other analysts point out that Bitcoin currently has a Net Unrealised Profit (NUP) of 0.476.

Historically, when Bitcoin’s NUP drops below 0.5, it often triggers a significant rally.

This is prompting suggestions that the same thing might be about to happen.

Currently, Ethereum is trading around $2830, after breaking below its long-time $3000 support.

According to analysts, this poor performance is primarily due to whales selling off their tokens.

CryptoQuant data shows that Ethereum wallets with balances between 10,000 and 100,000 ETH have collectively sold over 150,000 ETH in just 4 days. 

That said, analysts expect strong resistance around the $2800 price mark, where Ethereum’s accumulation addresses have shown past accumulation. 

Tom Lee, Fundstrat’s CIO, has expressed confidence in Ethereum’s recovery, stating that the bottom is likely in and predicting that ETH could reach $7,000 by Q1 2026

While Bitcoin and Ethereum struggle to regain momentum, on-chain analysis shows that market recovery has already begun in the PayFi sector.

One project, Remittix, in particular, has emerged as one of the most exciting altcoins of this narrative.

Remittix is an Ethereum-native PayFi solution that is solving the $19 trillion cross-border payments problem.

The traction the project is generating is real, too, because despite being relatively new, Remittix has already secured over $28.1 million in private funding from investors.

In addition, the cross-border payment solution has already secured listings on tier-1 exchanges like BitMart and LBANK, opening the door to more liquidity inflows.

Why Remittix Is Dominating PayFi:

Ethereum and Bitcoin continue to struggle to regain momentum and halt their downtrends.

However, investors are already rotating into Remittix because the PayFi solution is delivering impressive returns even in current market conditions.

Discover the future of PayFi with Remittix by checking out their project here:

Website: https://remittix.io/   

Socials: https://linktr.ee/remittix   

$250,000 Giveaway: https://gleam.io/competitions/nz84L-250000-remittix-giveaway

Is now a good time to invest in crypto?

Yes, it is. The crypto market is undergoing a significant correction, and many blue-chip assets are trading at substantial discounts. This means that you will be able to buy different tokens at a discount, but be careful to ensure you research well before doing so.

Why is Remittix performing well now?

According to analysts, Remittix’s impressive performance is tied to several factors, including its real PayFi utility and its global presence. There is also the fact that CertiK thoroughly verifies Remittix, which is something investors look for before investing in a project.

If a project has high funding, does that mean it will succeed? 

No, it doesn’t. High funding is good because it shows that people trust a project, but it is not the only thing that determines a project’s success. For a project to be successful, it also needs the perfect combination of utility, a strong community, and market adoption.

The post BTC, ETH attempt to form a bottom, Remittix explodes as PayFi narrative goes viral appeared first on Invezz

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