Bitcoin (BTC) price spent the day trading in a tight range between $32,000 and $34,000. At the time of writing, the digital asset is pinned below the descending trendline resistance and each attempt to cross above it is met by selling. Data from Cointelegraph Markets and TradingView show a price increase of 4.14% for the top cryptocurrency, which currently trades at $33,840. In light of the sideways price action, Ki Young Ju, the CEO of the cryptocurrency analysis firm CryptoQuant, spotted a potential bullish indicator that may indicate a price breakout in the near future for Bitcoin. According to Ju, …

DeFi blue-chips, including Aave (AAVE) and SushiSwap (SUSHI), have been rallying hard in the past several days while Bitcoin is seeing range-bound consolidation at around $35,000 as of Jan. 17. Both AAVE and SUSHI prices have risen by more than three-fold since December, within merely a month. Investors attribute the bull run of DeFi tokens to the market “re-rating” the major DeFi projects. Why is DeFi projects like SUSHI and Aave getting “re-rerated?” The DeFi market has had an incredible run since 2020. The total value locked (TVL) across DeFi protocols has surpassed $22 billion, demonstrating the market’s fast growth. …

The high-risk environment around the decentralized finance space and hype for one of its latest offerings, SushiSwap, raises an analogy with a Japanese delicacy called fugu, or pufferfish, which is said to be more deadly than cyanide. Highly trained chefs have been serving up fugu in Japan’s top restaurants for decades, balancing the lives of their customers on the edges of their Yanagiba knives. Any slight error could fatally poison the diner. As such, the cryptocurrency community now also has a proverbial fugu of the DeFi world. In a short space of time, the carbon copy of the popular Uniswap …