A brief technical and on-chain analysis on Axie Infinity price. Here, FXStreet's analysts evaluate where AXS could be heading next as it looks prime for volatility.
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FXStreet Team
FXStreet
Composed of a group of economic journalists and FX experts, the FXStreet content team produces and oversees all content published on FXStreet. It provides a purely journalistic approach to the Forex market.
Cryptocurrencies are trading under pressure on Thursday, weighed down by risk-off sentiment driven by Middle East tensions and macroeconomic uncertainty. Bitcoin has extended its decline below $65,000 and is targeting the key support area at $60,000.
Bitcoin price action over the last few weeks has felt less like a normal, healthy correction and more like a slow grinding crash that continues to wreak havoc on holdings and trading accounts. And everything suggests that the dramatic crash isn’t over.
Hyperliquid (HYPE) and Near Protocol (NEAR) prices have dropped 11% and 17%, respectively, at press time on Thursday, erasing gains as the well-known investor Arthur Hayes dumps HYPE and NEAR holdings.
PI price hovers around $0.1300 at press time on Thursday, reflecting a mild rebound from the $0.1186 record low reached earlier on the day. Deposits totaling roughly 1 million PI tokens on exchanges over the last 24 hours suggest waning investor confidence amid a broader market risk-off sentiment.
