Why is the price of AAVE rising while Bitcoin remains below $60,000? Main reasons it may reach $100 soon

While the broader cryptocurrency market continues to struggle, Bitcoin remains stuck below the crucial $60,000 level, keeping market sentiment under pressure. However, not every symbol follows a downtrend. price ave It has emerged as one of the strongest outperforming coins over the past few days, rising nearly 20% from around $72 to $86 between June 24 and 26, even as Bitcoin hit new local lows.

This unusual divergence has caught the market’s attention, raising questions about what is driving AAVE higher when most altcoins continue to struggle. A closer look at on-chain data and derivatives reveals that whale accumulation and growth in network activity may play a major role.

Whale activity and user growth explain the high AAVE

Santiment’s latest data paints a strong bullish picture for AAVE. Whale transactions exceeding $100,000, which typically average between 30 to 50 per day, rose sharply to 105, 89, and 128 from June 23 to 25. This represents the highest activity by large holders this month and indicates that larger players are actively accumulating during broader market weakness.

At the same time, network usage also rose. Active AAVE addresses rose to 2,804 on June 25, the highest level in the past 30 days and well above its usual range of 800-1,600. Rising whale activity combined with increased user engagement often indicates strong market conviction, especially when both metrics expand during a price surge.

AAVE Price Analysis: Derivatives data supports bullish momentum

The derivatives chart reinforces the bullish case. The price of AAVE has risen steadily while open interest (OI) has risen from around 1.3 million to 1.64 million, showing that new positions are entering the market rather than the move being driven by short-term spot buying alone. This type of price and OI expansion usually reflects increased participation and stronger momentum.

Another important factor is the funding rate, which remains slightly negative at -0.0026 despite the rise. This indicates that many traders are still bearish and are placing short positions, leaving room for further upside if short positions start to ease. Passive financing during an uptrend in prices often acts as fuel for a short squeeze.

Buy and sell volume deltas are also showing strong buying pressure over the past few sessions, confirming that demand remains strong. However, the cumulative volume delta (CVD) is still in negative territory, although it is starting to stabilize. This means that although the broader spot market has not yet completely turned to the upside, sellers may gradually lose control.

Taken together, the technical setup and derivatives suggest that AAVE’s recent rally is supported by whale accumulation and increased market participation, making it more sustainable than the typical short-lived pump.

Conclusion: Can AAVE reach $100 this month?

AAVE is showing strong relative strength at a time when the broader cryptocurrency market remains weak. The combination of rising whale transactions, growing active addresses, increasing open interest, and passive funding creates a strong bullish setup that could continue to support the near-term rally.

If AAVE can maintain momentum above the $85-88 area, the next major psychological target remains $100, which now looks increasingly realistic if buying pressure continues. A break above this level may strengthen the bullish structure.

On the downside, if the rally loses steam and Bitcoin further weakens, AAVE could revisit support around $78-$80 before attempting to move back higher. Right now, the data indicates one thing clearly – while most of the market is still selling, the smart money appears to be accumulating aggressively.

The story ends here

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