• A closely followed trader known as Cantering Clark says that Uniswap (UNI) has reached “blue chip status” and is primed for the next bull run.
• The trader also weighs in on Bitcoin (BTC), predicting there won’t be a lot of price action until there are further developments on Bitcoin ETF applications, which could come in August.
• BTC’s current volatility level is at its lowest percentage in years, suggesting it is setting up for a big move.
Trader Says Uniswap Has Reached ‘Blue Chip Status’
A closely followed trader known as Cantering Clark says that one Ethereum altcoin, Uniswap (UNI), has reached “blue chip status” and is primed for the next bull run. According to the trader, UNI is flashing signals that suggest it might be ready to begin an uptrend. UNI is currently trading for $6.54 at time of writing, up 1.54% in the past 24 hours.
No Significant Price Action Until Further Developments On Bitcoin ETF Applications
Cantering Clark also weighs in on Bitcoin (BTC). He predicts there won’t be a lot of price action until there are further developments on Bitcoin exchange-traded fund (ETF) applications, which could come in August.
Bitcoin Volatility Suggests Big Move Is Imminent
The trader is also keeping a close eye on the Bitcoin implied volatility index, which shows that BTC’s current volatility level is 34.16%, its lowest percentage in years. This suggests that the top crypto asset is setting up for a big move without specifying a direction. BTC is currently trading for $29,204 at time of writing, up 0.2% in the last seven days.
Conclusion
In summary, one Ethereum altcoin has now reached ‘Blue Chip Status’ according to Cantering Clark and appears primed for the next bull run . Furthermore , he believes there won’t be much price movement until further developments with regards to Bitcoin ETF applications take place . Lastly , BTC’s low levels of implied volatility suggest it could soon experience a major move .