- CoinMarketCap’s Head of Research suggests Bitcoin‘s bottom may be in, despite its failure to hold above $80,000.
- The research head notes that while Hyperliquid leads in DEX market share for tokenized perpetuals, Binance has captured 50% of the volume.
- Liu cautions that utility-less, meme-ified AI tokens may go to zero, though she predicts Bitcoin could reach $500,000 by 2030.
Despite Bitcoin failing to hold above $80,000, the cryptocurrency is unlikely to revisit its lower yearly price levels, according to CoinMarketCap Head of Research Alice Liu. “I think we might have already touched the bottom,” Liu said on Cointelegraph’s Trade Secrets, referencing Bitcoin’s fall to around $59,000 in June.
Bitcoin recently tapped $81,600 at the start of September, a 28% rally from mid-August that pushed the CoinMarketCap Crypto Fear & Greed Index back to Greed. However, Liu argues that the most interesting narratives are unfolding outside Bitcoin, particularly in markets for tokenized real-world assets and perpetual futures.
On Hyperliquid, Liu noted its network activity does not always correlate with price. “For Hype, there are two things… the activity, and the price,” she explained, adding that while the platform leads in decentralized exchange market share, volume quickly moved to Binance after it launched RWA perps.
Liu pointed to Hyperliquid’s aggressive token buybacks as a key price driver. “Hype has spent over $400 million USD on token buybacks… some of this price action momentum we’re seeing is supported by that,” she said, concluding that the token’s price remains dependent on sustained network revenue.
Liu expressed caution on the AI-crypto narrative, particularly tokens with little utility. “For the previous cycle meme-ified AI tokens that do not have any utility… those could potentially go to zero,” she warned. Liu gave a conservative Bitcoin Price Prediction, stating it could reach $500,000 by 2030.
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