Bitcoin (BTC) reclaims $85,000, setting the stage for altcoins to rally-web3.0-php.cn

Bitcoin (BTC) reclaims $85,000, setting the stage for altcoins to rally

Apr 16, 2025 am 10:04 AM

Bitcoin (BTC) is back above $85,000, and BTC dominance is climbing towards its four-year peak. This may be the perfect time for altcoins with a high BTC

Bitcoin (BTC) reclaims ,000, setting the stage for altcoins to rally

The price of Sui (SUI) may rally during this bull run as the native token of a Layer 1 blockchain platform continues to fall.

On Tuesday, April 15, SUI announced the expansion of an integration with Babylon Bitcoin staking protocol. As part of the integration, Bitcoin holders can now optionally secure the Sui network without giving up on their BTC holdings.

“We are becoming a Bitcoin Secured Network (BSN) on the Babylon protocol, furthering our BTCfi reach with this integration. Babylon and @SuiNetwork deepen technical ties expanding Sui’s growing connection with Bitcoin into the next frontier.”

The Bitcoin (BTC) staking protocol is deepening its ties with the Layer 1 blockchain, as SUI prepares to lock step with BTC price trend. Bitcoin is now closely hovering above support at the $85,000 level, as it aims to return above the $90,000 resistance.

SUI is currently showing gains of 5% over the last seven days, the token is up nearly 3% over the last six months, while the token is down 48% from its January 2025 peak of $5.3772.

SUI has been following a downward trend since its January peak. SUI could gain 25% and test resistance at the upper boundary of a Fair Value Gap (FVG), at $2.6069. If SUI sees a daily candlestick close above this level and flips it into support, it faces resistance at R1, R2, and R3, the 50%, 100%, and 127.2% Fibonacci retracement of its decline from January top to April 2025 local bottom.

R1 at $3.5473, R2 at $5.3772, and R3 at $6.3726 are the three key resistances. A rally to R3 marks 201.84% or greater than 3x gains for SUI.

News data source: kdj.com

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