- Avalanche surged nearly 10% in 24 hours, outperforming a crypto market correction.
- Grayscale’s move to convert its Avalanche Trust into a spot ETF has fueled investor confidence.
- Analysts project AVAX could hit $40.61 by early November, though broader market weakness could trigger a correction.
The broader crypto market is bleeding, with Bitcoin struggling near $112,000 and most altcoins flashing red. But Avalanche (AVAX) has broken away from the pack, posting a 9.8% gain in the last 24 hours. Over the past week, AVAX is up 17.5%, while the 14-day chart shows a 36.5% surge, and the monthly performance sits at +33.5%. That’s a stark contrast to the heavy drawdowns elsewhere, making Avalanche one of the few bright spots in an otherwise bearish market.
Why AVAX Is Rallying While Others Drop
The anomaly may trace back to Grayscale’s push to convert its Avalanche Trust into a spot ETF. Reports suggest that Grayscale filed its S1 in late August, and news of the trust potentially becoming an ETF has sparked bullish sentiment. On top of that, Bitwise’s application for an Avalanche ETF earlier this month already lit the fuse for a breakout rally.
ETFs have defined much of this year’s market cycle. Bitcoin and Ethereum both hit record highs on the back of ETF inflows, and investors are betting Avalanche could follow a similar path. With the SEC showing a more crypto-friendly stance under the Trump administration, optimism is high that at least one Avalanche ETF could get the green light.
Can Avalanche Keep Climbing Toward $80?
According to CoinCodex forecasts, AVAX could continue its upward trajectory. Analysts expect the token to hit $40.61 by November 6, 2025—a potential 17.6% gain from current levels.
That said, caution is warranted. The broader market is still in correction mode, and Bitcoin’s consolidation near $112,000 casts a shadow over altcoins. If BTC fails to reclaim momentum, Avalanche may not be able to sustain its divergence for long. Still, with ETF hype building, AVAX looks better positioned than most peers to absorb new inflows.
Final Thoughts
Avalanche’s rally against a bearish backdrop highlights just how powerful ETF speculation can be in driving sentiment. If approvals come through, AVAX could carve out a bigger role in this cycle’s narrative. For now, all eyes are on whether Avalanche can hold momentum and push toward the $40–$80 range that bulls are starting to whisper about.
