Helium (HNT), Avalanche (AVAX) and Pickle rally on partnership announcements

Bitcoin (BTC) price continues to defy gravity and its strong bullish breakouts frequently result in short sellers needing to cover their positions in a hurry. A repeat of this happened on Feb. 9 when Bitcoin soared on the news of Tesla’s $1.5 billion Bitcoin purchase. Bybt data shows that about $1.34 billion worth of Bitcoin futures positions were liquidated due to the sharp rally.

Crypto market data daily view. Source: Coin360

Another notable event was the launch of CME Ether (ETH) futures on Feb. 8. Several traders feared that the launch would send Ether price tumbling, similar to the weakness seen in Bitcoin shortly after the launch of its futures in 2017. However, this has not happened and Ether remains strong.

Along with the major cryptocurrencies, several smaller tokens with strong use cases have also performed well. Let’s study three tokens that have been performing well in the current bullish environment.