THE LATEST CRYPTO NEWS

As Bitcoin (BTC), the leading cryptocurrency, reclaims the crucial $85,000 mark on Monday, top analysts are projecting heightened volatility in the market for the coming week.  Bitcoin Eyes Key Liquidity Zones Above $90,000 Crypto analyst CrypNuevo provided insights in a recent update on social media site X (formerly Twitter), emphasizing that despite the chaos surrounding tariffs and potential market manipulation, there are key data points and trends to monitor.  The analyst highlighted the importance of liquidity and price action in the days ahead, noting that liquidations are primarily concentrated in the upside range between $90,000 and $91,500—psychological levels for many traders. With Bitcoin gaining 7% on the weekly time frame, potential for a move to tackle these liquidity zones might be expected, further recovering from the cryptocurrency’s crash toward $74,000 experienced last week.  Related Reading: XRP Tests Ascending Triangle Resistance – Can Bulls Reach $2.40 Level? CrypNuevo also mentioned that the current liquidation delta is relatively balanced, with approximately $15 billion in long positions at maximum liquidity. He suggested that a threshold of over $25 billion in liquidations would warrant closer attention.  The analyst’s ideal scenario for the coming week involves price compression between the daily and weekly 50-day exponential moving averages (EMA), as of now placed at approximately $86,000, which could lead to a significant expansion in price.  Rising Wedge Formation Analysts often look for patterns in market behavior, and CrypNuevo speculated that a third retest could occur, following the market’s tendency to move in threes.  The analyst alleges that this would further compress prices, potentially leading to a more aggressive breakout later on. He identified a key mid-range support line at $81,000, suggesting that while this scenario may be slightly less likely, it remains a possibility. Another prominent analyst, Ali Martinez, echoed these sentiments on social media, identifying the critical support level for Bitcoin at $82,024, where approximately 96,580 BTC were previously accumulated.  Related Reading: Cardano Could Drop To $0.54 If This Support Gives Out, Analyst Says This zone could be of key support for the cryptocurrency in case of CrypNuevo’s scenario of further retests taking place in the coming days for BTC’s price. However, Ali Martinez also pointed out on social media that BTC may be forming a rising wedge pattern, which could indicate a potential retest of the $79,000 support level. While Bitcoin (BTC) is currently trading at $85,000, it still remains over 21% below its all-time high of $109,000, which was reached in January of this year.  However, with the current market sentiment indicating a renewed sense of bullishness, this gap may close rapidly over the course of the month. Featured image from DALL-E, chart from TradingView.com

Bitcoin (BTC) has fallen below the $78,000 mark on Sunday, trading at $77,840, reflecting a 6% decline as investors react to significant volatility in broader financial markets. This drop follows the worst decline in US equities since 2020, triggered by President Donald Trump’s announcement of restrictive global tariffs.  The flagship cryptocurrency, which traded above $80,000 for much of the year, is now down 28% from its all-time high (ATH) of $109,000 in January, which was also curiously boosted by Trump’s election victory last November. Trump’s Tariffs Trigger $247 Million In Bitcoin Liquidations Typically, Bitcoin trades in tandem with large tech stocks and is viewed by many traders as a leading indicator of market sentiment. Interestingly, last week, Bitcoin held steady between $82,000 and $83,000 even as stocks and gold tumbled.  However, CNBC attributes the recent announcement by President Donald Trump of tariffs to a shift in investor sentiment, causing a wave of sell-offs in the crypto market affecting the largest cryptocurrencies. Related Reading: XRP Will Explode—And This Korean Expert Says He’ll Be ‘Laughing’ At Critics The tariffs, which apply to all imports and include additional duties on major trading partners, have raised fears of a potential global trade war. This uncertainty has prompted investors to divest from riskier assets, including cryptocurrencies.  In the wake of these developments affecting the entire crypto ecosystem, the leading cryptocurrency experienced over $247 million in long liquidations in just 24 hours since Saturday, with Ethereum (ETH) facing $217 million in similar liquidations during the same time frame. Major Cryptos Plunge Amid Global Trade War Fears Over the weekend, as fears of further market carnage loomed, investors rushed to sell their cryptocurrency holdings. The anxiety surrounding Trump’s tariffs has not only affected Bitcoin but has also reverberated through the entire cryptocurrency ecosystem, with other coins Solana (SOL) experiencing declines of approximately 12%. The ramifications of the tariff announcement have been felt across global financial markets. In the wake of the news, the S&P Global Broad Market Index recorded a staggering loss of $7.46 trillion in market value, with the U.S. stock market alone shedding $5.87 trillion. The losses extend beyond American markets, as other major global markets saw a decline of $1.59 trillion. Related Reading: Ethereum, Solana And Cardano Trend After Crypto Crash – Here’s What You Should Know As Bitcoin continues to reflect broader market trends, it has now seen a 15% drop in 2025. Analysts suggest that absent any significant crypto-specific catalysts, Bitcoin will likely continue to move in tandem with equities, overshadowed by fears of a global recession.  These economic uncertainties present a challenging landscape for cryptocurrencies, which were initially expected to benefit from favorable regulatory developments this year. Featured image from DALL-E, chart from TradingView.com 

As Bitcoin (BTC), the market’s leading cryptocurrency, continues to trend lower, recent insights from industry experts highlight critical factors influencing BTC’s trajectory. According to Ki Young Ju, CEO of market intelligence firm CryptoQuant, the current Bitcoin bull cycle may be coming to an end. This assertion is grounded in the concept of Realized Cap, a metric that quantifies the actual capital entering the BTC market through on-chain activity. Insights From Ki Young Ju For context, the Realized Cap metric operates on a straightforward premise: when Bitcoin enters a wallet, it represents a purchase, and when it leaves, it signifies a sale.  By calculating the average cost basis for each wallet and multiplying it by the amount of BTC held, Ju derives the total Realized Cap. This metric reflects the total capital that has genuinely entered the BTC ecosystem, contrasting sharply with market capitalization, which is determined by the last traded price on exchanges. Related Reading: Solana Faces Defining Level At $120 – Will History Repeat? A common misconception, according to Ju, is that a small purchase, such as $10 worth of Bitcoin, only increases market capitalization by that same amount. In reality, prices are influenced by the balance of buy and sell orders on the order book.  Low sell pressure means that even modest buys can significantly elevate prices and, consequently, market cap. This phenomenon was notably exploited by MicroStrategy (MSTR), which issued convertible bonds to acquire Bitcoin, thereby inflating the paper value of its holdings far beyond the initial capital deployed. Key Price Levels For Bitcoin Currently, Bitcoin appears to be in a challenging position, dropping below the key $80,000 mark. When sell pressure is high, even substantial purchases fail to affect prices, as seen when Bitcoin traded near its all-time high of nearly $100,000. Despite massive trading volumes, the price remained stagnant. Ju points out that if Realized Cap is increasing but market cap is either flat or declining, it signals a bearish trend. This indicates that while capital is entering the market, it is not translating into price appreciation—a hallmark of a bear market.  Conversely, if market capitalization is rising while Realized Cap remains stable, it suggests that even minimal new investment is driving prices up, indicative of a bull market. Presently, data suggests that Bitcoin is experiencing the former scenario: capital is flowing in, but prices are not responding positively. Historically, significant market reversals require at least six months to manifest, making a short-term rally seem unlikely. Related Reading: Ethereum Tanks Nearly 50% As Bitcoin Holds Stronger In Q1 Adding to the complexity, market expert Ali Martinez has identified key resistance levels that Bitcoin must overcome to regain upward momentum.  Notably, there is a major resistance cluster at $87,000, where the 50-day moving average, 200-day moving average, and a descending trendline from the all-time high converge. For Bitcoin to resume its upward trajectory, the expert asserts that BTC must break through critical resistance points at $85,470 and $92,950. Additionally, support at $80,450 remains vital; failure to hold this level could lead to further declines. As of now, the leading cryptocurrency trades at $78,379, recording a 6% decline on Sunday.  Featured image from DALL-E, chart from TradingView.com

Michael Saylor’s firm, Strategy (previously known as MicroStrategy), announced a new Bitcoin (BTC) buy on Monday, March 31st of a significant $1.9 billion in BTC.  This comes despite the market’s leading cryptocurrency’s recent challenges, having plummeted 25% from its all-time high in January of this year. Interestingly, this latest acquisition marks the largest in terms of tokens for Strategy in 2025.  Strategy Boosts Bitcoin Holdings To $43.4 Billion Since late October, Strategy has engaged in a series of nearly weekly purchases, bringing its total Bitcoin holdings to approximately $43.4 billion. Remarkably, this amount represents about 2.5% of the total 21 million Bitcoin that will ever be issued. According to a recent filing with the US Securities and Exchange Commission (SEC), Strategy acquired 22,048 Bitcoin at an average price of roughly $86,969 each between March 24 and March 30.  Related Reading: Ethereum Price Confirms Breakout From Ascending Triangle, Target Set At $7,800 This purchase is part of a larger trend for the company, which has actively sought to bolster its Bitcoin reserves. In the first quarter alone, Strategy spent approximately $7.79 billion on Bitcoin, with the next largest acquisition earlier this year totaling 20,356 Bitcoin, announced on February 24. To finance this latest purchase, Strategy utilized proceeds raised through its at-the-market sales program for common shares, as well as offerings of preferred shares.  This financing approach has proven successful, as the common shares of Strategy have surged nearly 2,200% since Saylor began investing the company’s cash into Bitcoin in 2020. During the same timeframe, Bitcoin itself has seen an increase of over 600%. Market Indicators Signal Potential BTC Recovery Bitcoin, on the other hand, is currently attempting to consolidate above the critical support level of $80,000 after experiencing a decline toward $76,000 for the first time since November 2024.  Despite this recent drop, indicators suggest potential for further price recovery in the near term. Recent research from analysis firm CryptoQuant highlights the significance of Binance’s spot trading volume in the cryptocurrency market.  Notably, in early 2025, when Binance’s volume surpassed that of all other exchanges combined, Bitcoin was experiencing a surge toward new all-time highs of $109,000.  The Binance vs. Other Exchanges BTC Spot Volume Delta indicator has turned positive again, indicating that Binance’s trading volume is consistently outpacing that of its competitors.  Related Reading: Ethereum To $20K? Investor Says Real-World Adoption Holds The Key The last time this trend was observed, BTC was trading around $42,000 before climbing to $73,000. Historically, periods of heightened Binance volume have been associated with bullish market sentiment, suggesting that traders may view Binance’s dominance as a positive signal for Bitcoin’s price trajectory. It is also worth noting that at the beginning of 2024, Binance’s volume was reported to be 19 times greater than Coinbase’s. Although this disparity has decreased to eight times, it still highlights Binance’s significant leadership in the market. According to CryptoQuant’s analysis, the ongoing strength of Binance as a trading platform will likely play a crucial role in shaping market dynamics as Bitcoin seeks to regain its footing above the $80,000 mark. Featured image from DALL-E, chart from TradingView.com 

GameStop, the video game retail company, experienced a significant downturn in its stock (GME) price, sliding more than 8% in after-hours trading on Wednesday, following the announcement that the company plans to raise $1.3 billion to invest in Bitcoin (BTC) through the issuance of convertible senior notes.  This move comes just a day after GameStop shares surged nearly 12% when the company revealed that its board had unanimously approved an update to its investment policy, designating Bitcoin as a treasury reserve asset. GameStop Planned Bitcoin Investment The planned investment in Bitcoin follows a recent trend of GameStop exploring cryptocurrency ventures. Reports surfaced about a month ago indicating that the company was considering investments in the digital currency space.  Related Reading: Dogecoin Price Prediction: Analyst says There Is 100% Chance Of A Bullish Rally, Here’s Why Speculation intensified on February 8 when GameStop CEO Ryan Cohen shared a social media post featuring a photo with Michael Saylor, the CEO of Strategy (MSTR), a company renowned for its substantial Bitcoin holdings, which exceed 447,000 BTC tokens. Saylor’s strategy of heavily investing in Bitcoin has proven fruitful, with MicroStrategy’s stock appreciating over 84% in the past year, largely in tandem with rising Bitcoin prices. However, Wall Street analysts remain cautious about GameStop’s ability to replicate this success.  Skepticism From Wall Street Experts “The company’s strategy, which has changed about six times in three years, is they’re going to buy cryptocurrency and be just like MicroStrategy,” noted Wedbush analyst Michael Pachter.  Pachter further expressed skepticism about the effectiveness of this approach, particularly given Strategy trades at roughly two times its Bitcoin holdings. Pachter added, “If GameStop were to buy all Bitcoin with their $4.6 billion in cash and trade at two times their Bitcoin holdings, the stock would drop five bucks.” Related Reading: Bitcoin Marks 114 Weeks In Active Buy Signal On The SuperTrend Weekly, But Things Could Turn Bad If This Happens Additionally, GameStop reported its fourth-quarter earnings results after the market closed on Tuesday, revealing $1.28 billion in net sales for the quarter—a 28% decline compared to the same period last year.  For the full fiscal year, the company posted an adjusted EBITDA of $36.1 million, a decrease from $64.7 million reported the previous year. Experts’ concerns may also be stemming from Bitcoin’s volatility, which saw a more than 25% retracement from its record high of $109,000 reached during the broader market rally in January.  This developed into a drop toward the $76,000 mark on March 11th, a level not seen since November 2024. However, the market’s leading crypto has recovered to around $87,477 at the time of writing, reflecting a 4.5% increase in the fourteen-day time frame. Featured image from DALL-E, chart from TradingView.com

In a significant move for the video game retail giant, GameStop announced on Tuesday that its board has unanimously approved a plan to use corporate cash reserves to invest in the crypto market’s largest cryptocurrency, Bitcoin (BTC).  This decision mirrors a strategy made by the now Bitcoin proxy company Strategy (previously Microstrategy) by MicroStrategy, which has made headlines for its substantial Bitcoin acquisitions led by its co-founder Michael Saylor. With $4.8 Billion In Cash, GameStop Eyes Bitcoin Expansion Following the announcement, GameStop’s stock surged more than 6% in extended trading, reflecting investor enthusiasm for the company’s new direction.  This news aligns with earlier reports from CNBC in February, which hinted at GameStop’s intentions to incorporate Bitcoin and other cryptocurrencies into its financial strategy. Related Reading: Tariff Easing Fuels Altcoin Rally: Solana, DOGE, And ADA Shine While Bitcoin Stalls As of February 1, GameStop reported holding nearly $4.8 billion in cash, and the company indicated that a portion of this cash, along with potential future debt and equity issuances, may be allocated to Bitcoin and US dollar-denominated stablecoins.  Notably, GameStop has not imposed a ceiling on the amount of Bitcoin it may purchase, suggesting a commitment to exploring the cryptocurrency market without restrictions. Ryan Cohen’s Vision This foray into cryptocurrencies is part of a broader strategy by GameStop’s CEO, Ryan Cohen, to revitalize the company’s struggling brick-and-mortar operations.  Under Cohen’s leadership, GameStop has focused on cost-cutting measures and operational streamlining to ensure long-term profitability. By adding Bitcoin to its balance sheet, GameStop aims to modernize its financial approach and appeal to a new generation of investors. However, the company has also acknowledged the risks associated with this venture. In a filing with the Securities and Exchange Commission (SEC), GameStop noted that Bitcoin is a highly volatile asset, subject to significant price fluctuations.  Related Reading: Ethereum Accumulation Is Almost Over – Breakout Above $2,200 Could Trigger Expansion Phase The firm cautioned that its Bitcoin strategy has yet to be tested and may ultimately prove unsuccessful, highlighting the inherent risks of investing in cryptocurrency. In conjunction with the cryptocurrency announcement, GameStop also reported positive financial results for its fourth quarter. The company posted a net income of $131.3 million, more than double the $63.1 million earned in the same period last year. This financial performance, coupled with the new Bitcoin strategy, has generated optimism among investors about GameStop’s future. At the time of writing, BTC is seeing a notable 7% price recovery on the weekly timeframe, leading to the retaking of the key $88,000 mark. This comes after weeks of heavy selling pressure that saw the leading crypto retreat to the $76,000 level for the first time since November 2024. Featured image from DALL-E, chart from TradingView.com 

Bitcoin (BTC) has experienced a notable surge, gaining 3% in the last 24 hours, climbing from $84,000 to $88,600, following reports that upcoming US tariffs on major trading partners will be less severe than initially anticipated.  However, altcoins like Solana (SOL), Dogecoin (DOGE), and Cardano (ADA) have outperformed Bitcoin’s surge in the 24-hour time frame, being the top gainers in the ten largest cryptocurrencies list.  Bitcoin And Top Altcoins Experience Significant Gains Scheduled for announcement on April 2, President Donald Trump had previously indicated that he would impose both reciprocal and sector-specific tariffs on countries including Canada, China, and Mexico.  However, anonymous sources within the White House, as reported by Bloomberg and the Wall Street Journal, have suggested that the president may opt for a narrower approach, focusing solely on reciprocal tariffs.  According to the reports, this shift in strategy appears to signal a tempering of the administration’s approach to a “potential trade war”, which has historically led to increased volatility in both the cryptocurrency and equity markets. Related Reading: XRP Price Could Suffer April Flash Crash, Analyst Shows How Low It Could Go Dan Greer, CEO of Defi App, a decentralized finance platform, noted the correlation between Bitcoin’s recent price increase and the news of the tariff adjustments. “This surge in Bitcoin’s price coincides with reports that the Trump administration is considering narrowing the scope of tariffs set to take effect on April 2,” he stated. The positive sentiment surrounding Bitcoin has extended to the broader cryptocurrency market, with nearly all of the top 10 cryptocurrencies by market capitalization experiencing gains on Monday.  Ethereum rose by 4%, XRP by 2%, Solana, DOGE and Cardano led the pack with increases of 8%, 7.8% and 4.5% respectively. The stock market reflected this optimism, with both the Nasdaq and S&P 500 indices rising 2% over the past 24 hours. Expert Insights On BTC’s Recent Fluctuations Greer highlighted that this development has alleviated some market uncertainties, leading to increased investor confidence across both cryptocurrency and equity markets.  The crypto sector, which has faced mixed reactions since Trump took office, has been grappling with the implications of his fluctuating tariff policies. These policies have introduced a considerable degree of economic uncertainty, prompting many investors to retreat from riskier assets. Related Reading: Analyst Sets Dogecoin Next Target As Ascending Triangle Forms The anticipated tariffs—expected to raise the prices of foreign goods—could lead to inflation, further complicating the economic landscape. Bitcoin, which reached an all-time high of $109,000 in January, has seen a decline, dropping to $78,000 earlier this month amid fears that aggressive economic policies could trigger a recession. Colin Closser, investor relations manager at crypto wallet company Exodus, expressed his understanding of the crypto market’s reaction to Trump’s policies. “I expect markets to show emotion and volatility during times of change and stress in the United States, and you can see that volatility in Bitcoin this morning,” he remarked. Since the spike, Bitcoin has seen a bit of a pullback towards the $86,930 level, with the most notable support floor between $83,000 and $84,000. Featured image from DALL-E, chart from TradingView.com 

As Bitcoin (BTC) stabilizes above the critical $80,000 support level after a significant downturn of over 25% from its January peak, market analyst Doctor Profit has released a compelling report that raises a pivotal question: is the market witnessing the onset of a bear market, or is the bullish sentiment still intact? M2 Money Supply And Bitcoin Price Doctor Profit emphasizes the crucial role of liquidity in the current market landscape. While many celebrate the increase in the M2 Money Supply—a key economic indicator—there’s a vital need to understand the timing of its effects.  Historically, M2 has shown a strong correlation with Bitcoin’s price movements. Unlike stock markets, which typically react to M2 expansions after a lag of about six months, Bitcoin tends to respond more rapidly, though not instantaneously. According to the analyst, the “misconception” that money printing leads to immediate market upswings is addressed, as there are multiple factors at play, including macroeconomic conditions.  Related Reading: Analyst Says Dogecoin Could Skyrocket 16% Any Moment The Federal Open Market Committee (FOMC) decisions regarding interest rates are particularly influential. Although official data suggests inflation is declining, underlying realities, such as OPEC’s influence on oil prices, complicate the outlook. In the context of rising M2, Doctor Profit predicts that Bitcoin’s bullish trend could resume around May or June, but anticipates a period of sideways movement and potential short-term bearish pressure leading up to that point. He warns that many who are currently bullish may shift to a bearish stance as the market evolves. In the report, Doctor Profit highlights the significance of the weekly EMA50—a critical moving average he refers to as the “Golden Line”—which Bitcoin has respected in recent price action. After bouncing off this line at $76,000, the cryptocurrency reached the anticipated $87.4K, triggering several short positions. Long-Term Bullish Outlook With Short-Term Caution Looking ahead, Doctor Profit’s strategy involves targeting a potential drop to the $70,000 to $74,000 zone. This region is crucial; if Bitcoin merely wicks into it but then closes strongly above the Golden Line, he plans to take long positions.  Doctor Profit maintains a bullish long-term outlook, expecting a resumption of the bull run by mid-2024, with price targets ranging from $120,000 to $140,000. He remains cautious, holding significant cash reserves and expanding short positions in anticipation of market fluctuations. Related Reading: XRP Jumps 7% After Surge In Network Activity & Whale Buying Doctor Profit outlines two bearish scenarios that traders should consider: a manageable drop to the $70,000 to $74,000 range and the more severe “Black Swan” event that could push prices down to the $50,000 region. While he is confident in a bounce at the higher target, he advises preparedness for both scenarios. At the time of writing, BTC is hovering around $84,000, recording losses of 3.5% and 12% in the fourteen and thirty days time frame respectively.  Featured image from DALL-E, chart from TradingView.com 

In a recent interview with CNBC, Michael Saylor, co-founder of Strategy, reiterated his bullish outlook on Bitcoin (BTC), predicting the cryptocurrency could reach a staggering $200 trillion market cap.  Saylor Forecasts $10 Million Per Bitcoin Currently valued at about $2 trillion, Saylor believes Bitcoin’s trajectory will see it grow to $20 trillion and eventually hit the $200 trillion mark, translating to an approximate price of $10 million per BTC based on its capped supply of 21 million coins. Saylor attributes this potential growth to a global shift in capital investment, stating, “That capital is coming from overseas… from China, from Russia, from Europe, from Africa, from Asia, from the 20th century to the 21st century.”  Related Reading: Ethereum Price Breaks Out—10% Surge Sparks Bullish Momentum His forecast comes against the backdrop of President Donald Trump’s recent announcement regarding the creation of a Crypto Strategic Reserve, which would include BTC alongside Ethereum (ETH), XRP, Solana (SOL), and Cardano (ADA), which ignited a heated debate within financial and crypto circles. While Saylor acknowledges the appeal of a Bitcoin-only reserve, he supports Trump’s broader strategy that encompasses multiple cryptocurrencies. He emphasized, “There’s no way to interpret this other than this is bullish for Bitcoin and is bullish for the entire US crypto industry.”  Although some conservatives, such as Coinbase CEO Brian Armstrong and Gemini co-founder Tyler Winklevoss, have advocated for more restrictive, Bitcoin-centric policies, Saylor noted that the president’s approach allows for a more inclusive economic policy. Saylor Dismisses Volatility Concerns  When asked about his involvement with the White House, Saylor confirmed he has been in discussions with various lawmakers, both Democratic and Republican, as well as members of the Cabinet and administration.  “For the last four and a half years, I’ve been talking about Bitcoin to anybody, anywhere in the world, every day,” Michael Saylor stated during his interview, highlighting his commitment to promoting the cryptocurrency. Saylor argues that establishing a strategic Bitcoin reserve could provide the United States with significant economic advantages, including the potential to alleviate the national debt.  Saylor posits, “If the United States takes a position in the emerging crypto economy, if it buys up 10, 20% of the Bitcoin network, we’re going to pay off the national debt. And so why wouldn’t that be in the interest of the United States?” Related Reading: Dogecoin Will Start A Move To $4 If Current Demand Holds – Can Bulls Step In? Addressing concerns about Bitcoin’s notorious volatility, Saylor pointed to its historical long-term gains, asserting, “I don’t think anybody’s ever lost money in the Bitcoin network holding for four years. Presumably, you want to buy Bitcoin, you want to hold it for 100 years.” The proposal for a US Crypto Reserve is still in its infancy, and Saylor indicated that its success will depend heavily on legislative decisions made in the coming months.  “There are a dozen people on it: the head of the Treasury, the SEC, the CFTC, Commerce, the Attorney General, the President… both the Republicans and the Democrats,” he noted, emphasizing the diverse range of opinions that will influence the outcome. At the time of writing, BTC has found support at around $83,869 after posting losses of 7% and 6% over the past 24 hours and seven days, respectively. Featured image from DALL-E, chart from TradingView.com 

On Wednesday, Bitcoin (BTC) prices plummeted to a four-month low, reaching as low as $81,000, as the anticipated “Trump bump” in the markets faded. This has prompted investors and traders to hedge against further decreases, with Bitcoin options indicating a notable interest in put options with a strike price of $70,000.  Bitcoin Plummets 20% Since Trump’s Inauguration According to data from Deribit, the largest crypto options exchange, this strike price represents the second-highest open interest among all contracts set to expire on February 28, with a total of $4.9 billion in open interest poised to expire by Friday. Related Reading: Solana (SOL) Sees Red—What’s Next for the Price? Since President Donald Trump’s inauguration in January, Bitcoin has experienced a substantial decline of roughly 20% from its record highs.  Market analysts attribute this downturn to a combination of factors, including Trump’s “aggressive geopolitical” stance and ongoing concerns about elevated inflation. Chris Newhouse, director of research at Cumberland Labs, noted, “Tariff policies are further dampening the outlook, and stubbornly high short-term inflation expectations add to the overall caution.”  Newhouse also highlighted that the Bybit Ethereum (ETH) hack has not only exerted downward pressure on Bitcoin’s price but has also negatively impacted overall market sentiment. Investors Pull Back Amid Declining Demand For ETFs The market has also witnessed a significant liquidation of bullish bets, with around $2 billion wiped out over the past three days, according to data from Coinglass.  Bitcoin perpetual futures—a popular method for offshore investors to leverage their positions—saw a sharp decline in long positions during this timeframe. Adding to the bearish sentiment, demand for Bitcoin exchange-traded funds (ETFs) has waned, with the group experiencing approximately $2.1 billion in outflows over the past six days.  This reflects a broader trend of investors pulling back, with more than $1 billion withdrawn from spot Bitcoin ETFs on Tuesday alone, marking the largest outflow since these funds debuted in January of the previous year. The Fidelity Bitcoin Fund (FBTC) and BlackRock iShares Bitcoin Trust ETF (IBIT) were among the hardest hit. Related Reading: Avalanche (AVAX) Overextended—Is A Market Shakeup Imminent? Bohan Jiang, head of over-the-counter options trading at Abra, commented, “This is a mix of spot selling and basis unwind. In my view, nearly all of this is from ETF spot outflows from directional traders.” Ethereum has also felt the impact of the Bybit incident, amplifying its volatility, while Solana (SOL) has surrendered gains achieved in recent months amid declining interest in memecoins. The market’s search for a new catalyst to reverse its bearish sentiment has led many investors to remain on the sidelines, rotating out of cryptocurrencies in a risk-off environment.  Ravi Doshi, co-head of markets at crypto prime broker FalconX, stated, “The crypto market is still in search of a new catalyst to reverse bearish sentiment.” Currently, BTC is attempting to find support at $84,578, but has fallen another 4.5% in the 24-hour time frame.  Featured image from DALL-E, chart from TradingView.com 

Bitcoin (BTC), the market’s leading cryptocurrency, has officially entered a new downtrend phase following a period of consolidation around the mid-$90,000 levels.  After reaching an all-time high of $109,000 in January, Bitcoin has now seen a significant drop of 7%, bringing its current price to approximately $87,400. This decline raises concerns about the sustainability of the broader bull market as investor sentiment shifts towards fear. Could A Drop Below $80,000 Be Imminent? Market expert Jesse Olson recently took to social media platform X (formerly Twitter) to question whether Bitcoin is nearing a local top or possibly “the” top for this market cycle.  Olson referenced historical data suggesting that previous pivot points for Bitcoin often signal significant downturns. He highlighted two notable instances: In April/May 2021, the Bitcoin price experienced a pivot point about 20% below its local top, leading to a price drop of 56%. In November 2021, the pivot was around 15% from “the” top, resulting in a staggering 77% decline. Currently, the price sits approximately 15% below the recent peak, and Olson notes a pending sell signal on BTC’s 3-day chart, indicating potential further downside. Related Reading: Litecoin Trading Activity Increases Over The Past Month – Potential LTC ETF Draws Speculation The expert also mentioned that while Bitcoin has hit Target 2 of 4 in his analysis, several indicators suggest the price could drop below $80,000, with higher time frames beginning to show bearish signals. Arthur Hayes Warns Of Bitcoin Downturn Adding to the bearish sentiment, market expert Arthur Hayes expressed concerns in a recent post on X, warning of a potential extension of Bitcoin’s downturn.  Hayes highlighted that many holders of BlackRock’s Bitcoin exchange-traded fund (ETF), IBIT, are hedge funds that have gone long on the ETF while simultaneously shorting Chicago Mercantile Exchange (CME) futures to earn a yield greater than short-term US treasuries. Should Bitcoin’s price continue to fall, Hayes suggests that these funds may unwind their positions, selling IBIT and buying back CME futures. This profit-taking strategy could lead to further declines in Bitcoin’s price, potentially pushing it down toward the $70,000 mark. Related Reading: Dogecoin Activity Levels Crash To 4-Month Lows, Does This Spell Doom For The Meme Coin? Despite the prevailing bearish outlook, analyst Doctor Profit presents a more optimistic perspective. He emphasizes that the production cost of Bitcoin is currently at $95,000, meaning the market price is below this critical threshold. Historically, prices trading below production costs have signaled prime buying opportunities for investors. Doctor Profit argues that this situation creates a compelling case for potential investors, as the market often sees price rebounds when production costs are higher than market prices.  Featured image from DALL-E, chart from TradingView.com

Bitcoin (BTC) and other cryptocurrencies are experiencing renewed selling pressure as escalating trade tensions between the United States and China lead to fresh tariffs on both sides. The largest cryptocurrency dropped to as low as $91,000 on Monday, while major altcoins like Ethereum (ETH) and Solana (SOL) also faced losses. CME Bitcoin Futures Open Interest Drops 4% The most recent installment of tariffs comes after the US enacted a 10% tax on all items from China, leading China to respond with its own tariffs on certain US imports, such as oil and liquefied natural gas, starting February 10.  In another development, China has launched an inquiry into Google LLC over supposed antitrust infringements, intensifying the tension between the two economic giants. Related Reading: Solana Retraces TRUMP Meme Pump Gains – But Technicals Suggest A $300 Run This market turbulence has wiped out the benefits from a short relief rally on Monday, which occurred after the Trump administration decided to postpone tariffs on Mexico and Canada for a month. The weekend’s initial declaration of US tariffs had already triggered a steep drop in cryptocurrency prices. Investor trust in riskier assets has been notably affected, as US investors pulled a net $235 million from a set of 12 Bitcoin-centric exchange-traded funds (ETFs) on Monday. Moreover, open interest in Bitcoin futures contracts on the Chicago Mercantile Exchange (CME) Group Inc.’s derivatives market decreased by 4%, reflecting a more cautious attitude among institutional investors. President Donald Trump, recognized for his pro-crypto position, has unintentionally brought more uncertainty to digital asset markets.  Although cryptocurrencies experienced a rise following Trump’s election, the market now faces a difficult landscape marked by geopolitical strife and regulatory obstacles. Historical Trends Suggest Potential For Deeper Corrections As of this writing, Bitcoin was trading at $98,970, about 13% shy of its all-time high. Meanwhile, US ETFs investing in Ethereum witnessed record trading volumes on Monday, with significant liquidation of leveraged positions rattled by ongoing trade uncertainties.  The iShares Ethereum Trust, led by BlackRock, accounted for nearly half of the $1.5 billion in trading volume among a group of nine ETFs. ETH plummeted by as much as 27% on Monday, leading to over $600 million in liquidations within perpetual futures markets, according to Bloomberg data. Related Reading: TRUMP Coin Tanks 18%—Even Donald Trump Couldn’t Save It Analyzing current price trends, crypto analyst Ali Martinez identified $92,180 as a critical support level for Bitcoin, based on MVRV (Market Value to Realized Value) pricing bands.  If this support level fails, the next target could be $74,400. Despite the recent price correction, Bitcoin traders are still enjoying a profit margin of 3.36%.  Historically, local bottoms have formed when profit margins drop below -12%, suggesting that Bitcoin could have further downside potential before reaching a true bottom. Additionally, the MVRV Momentum indicator has remained in negative territory since the beginning of the year, signaling ongoing market weakness.  Featured image from DALL-E, chart from TradingView.com

MicroStrategy, the enterprise software company based in Tysons Corner, Virginia, has made headlines once again on Monday by purchasing Bitcoin (BTC) for the twelfth consecutive week.  This latest acquisition saw the company spend approximately $1.1 billion on the market’s leading cryptocurrency from January 21 to January 26, as disclosed in a recent filing with the US Securities and Exchange Commission (SEC).  With these purchases, MicroStrategy now holds around 471,107 BTC, valued at roughly $30.4 billion, representing over 2% of the total Bitcoin supply that will ever exist. MicroStrategy Aims To Boost Bitcoin Holdings Beyond 500,000 To further finance its Bitcoin acquisition strategy, MicroStrategy has announced plans to sell $250 million in perpetual preferred stock, offering an attractive 8% fixed coupon.  This stock will have a conversion price of $1,000, although details remain limited as the information is not yet public. The venture aims to bolster the company’s already substantial Bitcoin holdings, which are nearing the 500,000 BTC milestone. Related Reading: Want To Get Rich? Here’s How To Create A Coin Like XRP From Scratch—Expert MicroStrategy has employed various fundraising strategies, including at-the-market stock sales and convertible debt offerings, with a goal of raising $42 billion in capital through 2027. The company’s stock has also shown remarkable growth, surging approximately 600% over the past year, although it experienced a slight decline of about 1.4% to $348.65 in early trading on Monday. Meanwhile, Bitcoin’s price fell around 2.5% to $101,500. Authorized Shares To Support Future Capital Raises MicroStrategy also announced recently that it would redeem over $1 billion of its 0% Convertible Senior Notes due in 2027 earlier than anticipated, with a planned redemption date of February 24.  This move is intended to streamline the company’s financial obligations and provide greater flexibility for future capital raises. Benchmark analyst Mark Palmer noted that this strategy would allow investors to focus on the company’s operations rather than potential financial impediments. Redeeming these notes could also pave the way for MicroStrategy to issue new convertible debt with longer maturities, enhancing its capital-raising options.  The company plans to offer approximately 2.5 million shares of Series A perpetual strike preferred stock, which will be senior to its Class A common stock and provide regular quarterly dividends starting March 31. Related Reading: Bollinger Bands Tighten On XRP Daily Chart – Major Price Move Ahead? Moreover, MicroStrategy has the green light from shareholders to significantly increase its authorized shares—from 330 million to 10.3 billion for Class A common stock—enabling it to pursue further equity offerings.  This decision aligns with the company’s ongoing efforts to maintain liquidity and support its ambitious Bitcoin acquisition strategy without needing to liquidate its holdings. Saylor emphasized the company’s liquidity position, asserting, “We’ve had and expect to continue to have ample access to liquidity through our capital markets activities and cash flows from operations.”  The firm’s co-founder further reassured investors that the company has no intention of selling its Bitcoin to meet interest obligations, reinforcing MicroStrategy’s commitment to its cryptocurrency strategy. Featured image from DALL-E, chart from TradingView.com

As January draws to a close, the cryptocurrency market has experienced a significant downturn, with Bitcoin (BTC) and other digital assets suffering losses attributed to a broader sell-off in the technology sector.  Bitcoin’s price fell 3% to $101,400, with earlier lows reaching $97,750. The CoinDesk 20 index, which tracks a weighted average of various cryptocurrencies, recorded a 7% decline, reflecting the overall market’s cooling after reaching record highs earlier this month. Nasdaq Drops Over 3% As DeepSeek’s AI Advances Raise Concerns The tech-heavy Nasdaq composite index also faced a downturn, dropping over 3%, influenced by concerns stemming from a Chinese startup, DeepSeek.  The company recently announced the development of a competitive artificial intelligence model at a fraction of the cost of existing solutions, raising alarms about potential shifts in US dominance in artificial intelligence (AI) technology.  Related Reading: Ready To Rocket? Dogecoin Chart Hints At Major Gains Ahead This news has sparked fears regarding Big Tech’s spending on artificial intelligence models and data centers, further exacerbating the sell-off in tech stocks in the United States market. In premarket trading, shares of major cryptocurrency exchanges like Coinbase and MicroStrategy fell about 2% each. Bitcoin mining companies took even larger hits; Core Scientific saw its shares plummet by 21%, while Terawulf and Iren (formerly Iris Energy) lost 16%.  The correlation between the cryptocurrency market and the tech sector remains strong, as noted by Standard Chartered analyst Geoff Kendrick, who pointed out that Bitcoin is currently more closely aligned with movements in the Nasdaq than with traditional safe-haven assets like gold. Long Liquidations Hit Bitcoin Traders The market’s volatility was further driven by significant liquidations among traders who had bet against a downturn. Over the past 24 hours, more than $250 million in long liquidations occurred, forcing leveraged traders to sell their Bitcoin holdings to cover losses.  This wave of selling coincided with a mixed market reaction to President Donald Trump’s recent executive order on cryptocurrency, which had generated anticipation in the lead-up to its release but failed to meet all investor expectations. Many traders expressed disappointment that the executive order did not establish a dedicated stockpile of Bitcoin, a term that implies a more passive approach to holding assets, rather than an active strategy of regular purchases.  Related Reading: XRP Price To $5.85: Analyst Reveals Why The New Week Will Be ‘Dynamic’ Kendrick emphasized that the current market dynamics position digital assets to be particularly vulnerable to sharp sell-offs, regardless of whether the driving force originates from within the crypto space or external markets like tech.  With the uncertainty surrounding the executive order now resolved, the market has shifted its focus to the upcoming Federal Reserve meeting, set to conclude on Wednesday. Market strategist Joel Kruger of LMAX noted that investors are nervously anticipating the Fed’ stance, hoping for a more accommodative approach while fearing that the central bank may not adopt the dovish tone the markets desire.  Despite the recent price declines, Kruger reassured investors that the overall trend in Bitcoin remains positive, stating, “When we look at the Bitcoin chart, there is nothing bearish about the price action.” Featured image from DALL-E, chart from TradingView.com

The Bitcoin (BTC) price has recently entered a consolidation phase following significant upward movements, as the cryptocurrency market experiences heightened volatility at the start of the year.  Currently, the market’s leading cryptocurrency is hovering above the critical $100,000 milestone, with analysts suggesting that further price increases could be on the horizon. Analyst Warns Of ‘Overly Bullish Sentiment’ In a detailed analysis by a market expert known on social media as Daily Crypto Trading, the Elliott Wave Theory is being employed to predict Bitcoin’s next moves.  According to this analysis, the market could be witnessing a flat corrective wave, with a target in the range of $90,000. The analysis confirms that the recent flat ABC structure held firm at the 89-90k levels, indicating that wave 4 has completed.  Related Reading: XRP Forms A Bullish Pattern In 4-Hour Chart – Analyst Expects $4.20 After Breakout The analysis highlights that while the sentiment surrounding Bitcoin’s future is “overwhelmingly bullish,” this can often serve as a cautionary sign.  As Daily Crypto Trading notes, “Even though wave 4 is done, the sentiment is overly bullish, which is normally a red flag.” Investors are encouraged to approach the situation with caution, acknowledging that while the analysis is rooted in probability, it does not guarantee outcomes. The macroeconomic landscape is also crucial for understanding Bitcoin’s trajectory. Daily Crypto Trading has previously discussed the potential impact of an impending recession, suggesting that macroeconomic factors must be considered before diving into technical analysis.  What A $130,000 Price Breach Means For Bitcoin? The Elliott Wave Theory, which has been notably accurate in previous predictions, is a key component of this analysis. It posits that markets move in predictable waves, and currently, the focus is on the final sub-wave of wave 4.  The expert anticipates that if Bitcoin surpasses the critical level of $109,000, it will confirm the onset of impulsive wave 5, suggesting a bullish continuation. Should Bitcoin achieve a strong wave 5, projections indicate a potential price increase of 40-50% from the current levels, with Fibonacci extension levels suggesting targets of $113,000, $117,000, and even $121,000.  However, there is a caveat: the wave could be truncated, leading to a double top formation and subsequent corrections, or it may fail to reach a new all-time high (ATH). Thus, surpassing the $109,000 mark is deemed a critical milestone for increasing the likelihood of a blow-off top reaching $120,000. Related Reading: Ethereum Price Eyes $4,000 With Rising Channel Pattern Conversely, if Bitcoin were to dip back to the $90,000 area, it would indicate the formation of a regular zigzag pattern, implying that wave 4 may not be complete.  As a contingency, an invalidation point has been established at $130,000; a breach of this level could suggest an unforeseen bullish breakout toward a target of $170,000. Currently, BTC is trading at $104,300, recording losses of 1.4% in the 24-hour time frame.  Featured image from DALL-E, chart from TradingView.com

As Bitcoin (BTC) consolidates above the significant $100,000 milestone, previously a challenging resistance level to breach, market analysts are closely monitoring its potential for further price increases and the possibility of new all-time highs (ATHs).  A critical threshold of $109,000 looms in the near future for the market’s leading cryptocurrency, but the clock may be ticking as experts warn of an impending bear market that could emerge within just three months. Analyst Warns Of Imminent Bear Market For Bitcoin Market expert and technical analyst Ali Martinez raised concerns in a recent social media post on X (formerly Twitter), based on historical patterns observed following Bitcoin’s Halving events.  Related Reading: Solana Active Addresses Surge To 832K Per Hour Outpacing Ethereum Amid TRUMP Meme Coin Hype The analyst suggests that Bitcoin and the broader cryptocurrency market could enter a bear cycle approximately 90 days from now. This prediction is grounded in the cyclical nature of Bitcoin’s price movements, particularly during Halving years, which historically have been followed by significant corrections. As further seen in the chart above, Martinez points out that examining the total days of each BTC Halving cycle reveals a striking resemblance to the previous cycle between 2012 and 2016, which lasted 367 days before entering a bear market.  As of now, Bitcoin and the broader cryptocurrency market is at 276 days into this cycle, suggesting that a downturn may be closer than some investors anticipate. Will Prices Reach $200,000 Before The Drop? Further analysis from Martinez incorporates the Wyckoff Method, a technical analysis framework that identifies market cycles.  According to this method, Bitcoin may be approaching its final leg up before entering the Distribution Phase, a period of consolidation before a price decline.  In this phase, Ali Martinez predicts that the BTC price could trade between $140,000 and $200,000 before experiencing a significant drop back toward the $100,000 level. Related Reading: Ethereum Whales Keep Buying As Price Struggles – Expert Discloses Massive Accumulation But despite these cautionary forecasts, Martinez also notes that there remains potential for growth in the short term. He draws comparisons to the 2015-2018 cycle, asserting that Bitcoin’s price action at this juncture shares striking similarities with that period, which eventually led to parabolic price increases. Additionally, the Mayer Multiple, a metric that gauges Bitcoin’s overbought conditions, is currently being scrutinized. Historically, the Mayer Multiple has indicated market tops when Bitcoin trades above the 2.4 oscillator.  Presently, this level sits near $182,000, suggesting that Bitcoin still has room for growth before reaching a potential market peak this cycle. At the time of writing, the largest cryptocurrency by market cap is trading at $102,900, down over 1.5% in the 24-hour time frame. Featured image from DALL-E, chart from TradingView.com

Bitcoin (BTC) experienced significant volatility on Tuesday, dropping 4.8% to $97,000 once again after briefly surging above $100,000 to start the week. Major crypto stocks, including Coinbase and MicroStrategy, also saw sharp declines, falling more than 7% and 9%, respectively. Bitcoin mining companies such as Mara Holdings and Core Scientific were not spared either, each dropping around 5%. Bitcoin Prices Drop Amid Rising Treasury Yields And Economic Concerns According to recent reports, the downturn in Bitcoin’s price coincided with a sudden spike in the 10-year US Treasury yield. This increase followed data from the Institute for Supply Management (ISM), which indicated faster-than-expected growth in the US services sector for December.  This news has raised concerns about persistent inflation, which tends to pressure growth-oriented risk assets like cryptocurrencies. Historically, rising Treasury yields have had an inverse relationship with risk assets such as Bitcoin.  Related Reading: Anticipating A ‘2025 Super Cycle’: Bitcoin Rallies With Trump’s Regulatory Reforms On The Horizon On Monday, Bitcoin had traded above $102,000 and is widely anticipated to double this year, contingent on clearer regulations that could bolster digital asset prices. However, uncertainty surrounding the Federal Reserve’s (Fed) interest rate cuts poses potential challenges for Bitcoin’s price trajectory.  In December, the Fed indicated that while it was cutting rates for a third time, the pace of future cuts might be slower than investors had hoped. Rate cuts typically support Bitcoin prices, whereas hikes tend to exert downward pressure. Analysts further attribute the recent dip not only to rising yields but also to increasing correlations between Bitcoin and traditional equities, particularly the Nasdaq.  Bob Wallden, head of trading at digital-assets firm Abra, noted that the ISM data triggered a selloff in equities that spilled over into the crypto market.  Wallden suggests that this decline was compounded by profit-taking and stop-loss triggers for traders who had gone long on Bitcoin above the $100,000 mark. Adding to the market’s volatility are renewed headlines surrounding President-elect Donald Trump’s shifting stance on tariff discussions, which have further fueled cautious sentiment in the Bitcoin market.  Investors Cash In As 2024 Highs Fade Bitcoin’s record-breaking rally in 2024 began to lose momentum in late December, as investors capitalized on their profits. Optimism surrounding a pro-crypto administration under Trump had previously driven Bitcoin to an all-time high of $108,000 in December.  However, Bloomberg reports that the cryptocurrency’s prospects for 2025 will depend largely on whether Trump follows through on his pledges regarding cryptocurrency, including the establishment of a national Bitcoin stockpile. Related Reading: SUI Skyrockets: Bullish Momentum Drives Push Toward $6 Despite the optimism, skepticism remains. A recent MLIV Pulse survey revealed that 39% of respondents believe Bitcoin, once a winning investment of 2024, is most likely to become a losing investment in 2025, the highest percentage among various assets surveyed. Against this backdrop, market analysts like Ali Martinez have noted potential support for Bitcoin at around $97,000, with the TD Sequential indicator signaling a buy opportunity on the hourly chart.  If this support level holds, there may be a rebound. However, Martinez asserts that a break below the $97,000 price level could signal a potential dip all the way down to the $92,000 support. Featured image from DALL-E, chart from TradingView.com

As Bitcoin (BTC) navigates a turbulent period marked by increased volatility and a significant correction in cryptocurrency prices, market analyst Lark Davis has shed light on a potentially promising trend.  In a recent post on social media platform X (formerly Twitter), Davis drew parallels between Bitcoin’s current price movements and those observed during the last presidential election cycle, suggesting a potential restoration of confidence in the leading cryptocurrency. Bitcoin Mirrors 2021 Election Cycle Davis highlighted that Bitcoin appears to be mirroring its price action from the previous presidential election and inauguration in 2021.  Related Reading: Ethereum Whales Absorb $1 Million Loss As Market Caution Intensifies The expert presented a chart illustrating three distinct phases that Bitcoin underwent during that time, which may be relevant again as the market approaches the upcoming inauguration of President-elect Donald Trump on January 20. The first phase, which Bitcoin already experienced in November and December 2024, saw a notable rally towards new highs culminating in a peak price of $108,000 on December 17.  Following this initial surge, Bitcoin entered the second phase characterized by what Davis refers to as a “pre-inauguration dump.” Historically, this period has been marked by market corrections as investors react to uncertainties surrounding political transitions.  Currently, Bitcoin seems to be navigating through this phase, with observers closely monitoring its price movements as the inauguration date approaches. Davis anticipates a potential “post-inauguration pump,” reminiscent of the price surge that propelled Bitcoin to an all-time high of $69,000 in 2021. With only days remaining until the inauguration, the market is keenly observing whether this historical pattern will repeat itself in 2025. Market Anticipates Trump’s Inauguration The sentiment around Bitcoin’s future is further buoyed by Trump’s promises to reshape the regulatory environment for cryptocurrencies.  Unlike Biden, whose administration has taken a more cautious approach, Trump has signaled a desire to foster growth within the digital asset space, including plans to establish a Bitcoin stockpile aimed at addressing the national debt, which exceeds $36 trillion. While Lark Davis cautions that history may not repeat itself, he notes that it often “rhymes.” The prospect of increased support for Bitcoin from the incoming administration could serve as a catalyst, propelling the cryptocurrency toward new price highs and entering a phase of price discovery. Related Reading: Chainlink Weekly Chart Looks Promising – If Bulls Reclaim $30 ‘ATH Are Next’ In addition to Davis’s insights, fellow crypto analyst Doctor Profit has also weighed in on Bitcoin’s recent performance. He has expressed optimism about the cryptocurrency’s trajectory, indicating that it is aligning with his previous expectations.  Profit emphasizes the importance of maintaining a daily close above the $95,900 mark, with a breakout above $97,500 necessary for Bitcoin to continue its upward momentum toward the coveted $100,000 threshold. At the time of writing, BTC trades at $97,000, recording gains of 3% in the 24-hour time frame.  Featured image from DALL-E, chart from TradingVew.com

As the cryptocurrency market grapples with a broader decline, altcoins have faced significant challenges, with Ethereum (ETH) leading the way with losses nearing 20%.  This drop comes after Ethereum’s repeated failures to break through the crucial resistance level of $4,000, a barrier that has proven formidable in recent months also preventing the cryptocurrency to reach new record levels as Bitcoin (BTC) did to close 2024. Mid-Cycle Correction For Altcoins: A Path To Recovery? Market expert Ash Crypto has recently offered insights in a social media post on X (formerly Twitter), into the current state of altcoins, suggesting that they are undergoing a “mid-cycle correction.”  According to Ash Crypto, this phase is a natural part of the bull market cycle and may set the stage for a recovery of previously lost value and potentially even higher gains for these digital assets.  Related Reading: Chainlink Weekly Chart Looks Promising – If Bulls Reclaim $30 ‘ATH Are Next’ In his social media post, the expert highlighted historical precedents, noting that similar price actions were seen in January 2021, just before the onset of an altcoin season that captivated investors. Despite recent fluctuations, Ethereum and other altcoins have shown slight signs of recovery, with ETH managing to surge above $3,200, rebounding from its nearest support level of $3,100.  This recent uptick prevented further losses and sparked hope among traders. However, Ash Crypto cautions that another dip may be on the horizon before a more sustained recovery can take hold. Market Whales May Shake Out Retail Investors  In his analysis, Ash Crypto projected that altcoins could experience one final market correction before entering what he believes will be a full bull mode later this year.  The expert referenced a chart he shared, depicting the total market capitalization of altcoins excluding Bitcoin and Ethereum, which showed potential consolidation between the $926 billion and $930 billion levels.  This consolidation phase could precede a move towards a bullish cycle peak, estimated to reach as high as $3.39 trillion. Related Reading: Analyst Who Predicted Bitcoin Price Crash To $89,000 Reveals Where BTC Is Headed Next Adding to the intrigue, Ash Crypto remarked that Bitcoin’s dominance appears to have topped out, suggesting that an altcoin season is imminent. However, he warns that before this potential surge, market whales may attempt to shake out retail investors by manipulating prices. At the time of writing, ETH is trading at $3,215, up over 3% in the 24-hour time frame. Other altcoins such as XRP, Solana (SOL) and Cardano (ADA) have also risen by 5%, 3% and 5.3% respectively in the same time frame.  Taking into account Ash Crypto’s analysis, it remains to be seen whether further consolidation or another correction will take place for altcoins before what could be the most notable gains for these digital assets in history.  Featured image from DALL-E, chart from TradingView.com

In a recent social media post, market expert VirtualBacon shared seven key predictions that could shape the cryptocurrency landscape in 2025. Central to these predictions is the assertion that Ethereum (ETH) may outshine Bitcoin (BTC) in terms of performance, even as Bitcoin continues to hold a dominant position in the market.  Expert Predicts A New Crypto Bull Run In 2025 With Bitcoin approaching the significant $100,000 mark once again after a sharp correction over the past weeks and altcoin exchange-traded funds (ETFs) on the horizon, the expert believes that the current crypto bull run is only just beginning. Related Reading: XRP Price Dominates: Outperforming Bitcoin With Confidence VirtualBacon poses an intriguing question: Is 2025 the year when cryptocurrencies break all previous records? The anticipation surrounding potential market movements is palpable, especially given the bullish sentiment fueled by Bitcoin’s recent price surge and the impending introduction of altcoin ETFs.  The expert reflects on the previous year’s predictions, noting that Bitcoin reached $80,000, crypto gaming gained traction, and Trump’s return to the political scene significantly boosted market momentum. Looking ahead, VirtualBacon predicts a longer, slower bull cycle extending potentially into the fourth quarter of 2025. This forecast is underpinned by the Federal Reserve’s cautious approach to liquidity, which is expected to mitigate the risks of sudden market crashes.  The likelihood of a recession is projected to drop to 33%, signaling a period of relative stability. Bitcoin’s dominance is anticipated to rise, largely driven by institutional demand, with spot ETFs already holding approximately 5% of Bitcoin’s supply.  While altcoins may lag initially, VirtualBacon asserts that this “slower cycle” is seen as a “blessing,” providing ample time for growth and maturation within the market. Will Ethereum Outperform Bitcoin This Year? One of the most consequential factors influencing the crypto market in 2025 is anticipated massive liquidity injections. The US debt crisis is likely to compel the Federal Reserve to implement quantitative easing, thereby expanding its balance sheet and flooding markets with cash.  Additionally, a revaluation of gold—potentially adjusting from $42 per ounce to around $2,000—could create even more liquidity in the system. Such conditions typically lead to inflation, which is historically associated with rising asset prices, suggesting that cryptocurrencies may thrive in this environment. However, despite these optimistic predictions, VirtualBacon casts doubt on the likelihood of a US Bitcoin Reserve Act passing in 2025. The proposal for the US Treasury to acquire one million Bitcoin over five years faces significant hurdles, particularly in securing taxpayer support for such a massive expenditure.  Related Reading: Cardano (ADA) Under Pressure: Struggles to Reclaim Lost Ground On the regulatory front, VirtualBacon anticipates that pro-crypto legislation may favor altcoins, particularly through the proposed Fit for the 21st Century Act.  This legislation could provide a clearer regulatory framework for cryptocurrencies, designating decentralized tokens like Layer-1 blockchains as commodities under the Commodity Futures Trading Commission (CFTC), while less decentralized assets would fall under the Securities and Exchange Commission (SEC).  With Paul Atkins, a pro-crypto advocate, potentially leading the SEC, major cryptocurrencies may flourish, although smaller startups could face challenges navigating the new landscape, according to the expert. The prediction of altcoin ETFs gaining traction is another exciting prospect for 2025. VirtualBacon expects ETFs for cryptocurrencies such as Litecoin, HBAR, XRP, and Solana to emerge, driven by their unique statuses and pending legal resolutions.  With Ethereum ETFs already drawing institutional interest, a similar pattern could unfold for these altcoins, further accelerating institutional adoption in the crypto market. Perhaps the most captivating prediction is that Ethereum could outperform Bitcoin, potentially doubling Bitcoin’s returns in 2025. With institutional investors increasingly favoring ETH over BTC in recent months, along with historical performance trends favoring Ethereum in the first half of the year, the stage is set for significant growth in the Ethereum ecosystem.  VirtualBacon estimates end-of-year prices of approximately $200,000 for Bitcoin and $14,000 for Ethereum, presenting ambitious yet “potentially attainable targets” given the expected influx of liquidity and institutional support. As of this writing, BTC is trading at $95,840, recording gains of over 4% in the 24-hour time frame. Similarly, ETH is trading at $3,200, recording even higher gains of nearly 6% in the same time frame. Featured image from DALL-E, chart from TradingView.com

Bitcoin (BTC) has surpassed the $100,000 threshold for the first time in two weeks, supported by revived momentum after the expected confirmation of Donald Trump’s US election win by Congress this week.  According to Bloomberg data, the market’s leading cryptocurrency climbed over 4% in the 24-hour time frame to hit $102,500 on Monday, recording a weekly rise of 11%—its highest surge since November 24. Bitcoin Rally Resumes: Surges Past $100,000 BTC’s performance in 2024 encountered a deceleration in late December as investors aimed to secure their gains. Nevertheless, enthusiasm for a pro-crypto government under Trump has rekindled interest, propelling Bitcoin to a record peak of $108,000.  As Congress prepares to assemble to certify Trump’s win, market sentiment appears optimistic. Khushboo Khullar, a venture partner at Lightning Ventures that invests in Bitcoin-related companies, stated, “A super cycle in 2025 is expected due to regulatory changes from the Trump administration.” Related Reading: Key Indicator Signals Buy On XRP 4-Hour Chart – Analyst Predicts A Price Rebound A notable surge of investment in Bitcoin exchange-traded funds (ETFs) has also fueled this momentum. On Friday, investors funneled a net $908 million into US Bitcoin ETFs.  This signaled the fifth-highest inflow since they were launched in January 2024, following a historic net outflow of $680 million on December 19. Another positive indicator for Bitcoin traders is the rebound of the Bitcoin Coinbase Premium, which gauges the price variance between Bitcoin on Coinbase and Binance.  Following its lowest point since Sam Bankman-Fried’s FTX fell in 2022, the premium has recovered, indicating a rising demand for Bitcoin among US investors.  Joe McCann, the CEO of Asymmetric, a crypto hedge fund located in Miami, pointed out that ETF issuers mainly transact with Coinbase, which implies that the demand for ETFs can affect the premium or discount rates. Key Support Levels Under Scrutiny As the market looks towards 2025, Bloomberg highlights that Bitcoin’s path will significantly rely on Trump’s dedication to his crypto-related pledges, encompassing a national Bitcoin reserve.  Nonetheless, doubts persist about the longevity of the ongoing rally. A recent MLIV Pulse survey revealed that 39% of participants viewed Bitcoin as the investment most prone to becoming a loser in 2025, the highest share of all choices. Regarding technical analysis, market expert Morecryptoonl pointed out that Bitcoin has formed a more distinct five-wave pattern, with a bearish outcome that is still feasible if specific support levels are violated.  Related Reading: Litecoin Comeback: LTC Breaks Free And Guns For $400 At present, wave two is required to maintain support, while wave one is technically finished but is anticipated to reach a minimum of $100,800. Crucial support zones have been pinpointed between $93,144 and $96,554, which might be examined after wave one validates its peak. Concerning Bitcoin ETFs, Glassnode asserts that the purchasing trend continues to be robust, owing to seasonal influences. With Inauguration Day nearing, the market analysis firm expects a higher purchasing activity from traditional finance investors, potentially impacting Bitcoin’s price movements further. At the time of writing, BTC has slipped back towards the $101,888 level but is still making significant gains on all time frames.  Featured image from DALL-E, chart from TradingView.com

In a promising development, the Bitcoin price is inching closer to the coveted $100,000 mark as it trades above $98,000 for the first time since late December.  Crypto analyst Ali Martinez has highlighted several critical metrics that could signal further bullish momentum for the leading cryptocurrency as the market begins to recover. Bitcoin Price Surges Amid Coinbase Premium Index Low One of the significant indicators discussed by Martinez is the Coinbase Premium Index, which recently hit -0.23%, its lowest point in two years. This index measures the price difference between Bitcoin on Coinbase and other exchanges.  A negative premium suggests that US-based investors may be less willing to pay a premium for Bitcoin, but the current rebound could indicate a shift toward growing institutional interest in the asset. Related Reading: Prepare For A Solana Sell-Off: How Grayscale’s 2025 Unlocks Could Shake The Market Martinez also noted that the recent uptick in the Bitcoin price comes amid a notable withdrawal trend, with over 48,000 BTC—valued at more than $4.5 billion—pulled from exchanges in the past week. This trend indicates a bullish sentiment among investors, despite a brief price correction that occurred late last year. Despite these positive signals, Martinez cautions that Bitcoin is at a crucial juncture. He emphasized the importance of sustaining a close above the 50-day moving average (MA), currently just above $96,000.  A failure to maintain this level could lead to a potential downward correction. Conversely, a sustained close above the 50-day MA could signal the end of the recent correction and confirm a more robust bullish trend. Strong Upward Move Expected After Wave Three Breakout In addition to Martinez’s insights, the Elliot Wave Academy has provided a technical analysis of the recent Bitcoin price movements, suggesting that the cryptocurrency is currently in the fourth wave of a larger bullish cycle.  The academy’s analysis indicates that after a powerful breakout from a price channel, Bitcoin has successfully surpassed the ideal level of wave three, which may signal a strong upward move. The fourth wave, according to their analysis, is characterized by a sideways pattern following the sharp rise of wave three.  The potential correction zones for this wave have been identified, and should these levels be breached, the next upward wave could target a Bitcoin price range between $117,475.70 and $138,058.37. These figures represent major bullish targets that could attract further investment and drive Bitcoin’s price higher. Related Reading: Dogecoin Recovery In Sight: Strong Support Hints At Bullish 2025 All around, as the Bitcoin price continues its upward trajectory, the combination of significant withdrawals from exchanges, a low Coinbase Premium Index, and positive Elliott Wave analysis paints a compelling picture for the cryptocurrency’s future.  However, investors should remain vigilant, keeping an eye on critical price levels that could determine the market’s next move.  At the time of writing, the market’s leading crypto is trading at $98,320.  Featured image from DALL-E, chart from TradingView.com 

With the arrival of the new year, the cryptocurrency market is experiencing a significant rebound, as the leading 100 cryptocurrencies, headed by Bitcoin (BTC), show increases and positive trends.  In light of this revival, crypto expert Miles Deutscher has revealed his forecasts for 2025, providing perspectives on the upcoming paths of key cryptocurrencies and market tendencies. Bitcoin Price Potential To Hit $1 Million Deutscher begins by addressing the current state of the Bitcoin dominance chart, suggesting that it has likely peaked for this cycle. He anticipates that while BTC may experience periods of outperformance, it will ultimately stabilize around 61.5% dominance.  In addition, Deutscher has made bold predictions regarding Bitcoin’s future price, asserting that it will reach $140,000 by the end of 2025.  While he has seen more aggressive forecasts predicting prices over $200,000, he considers these estimates “overly ambitious” within the next 12 months. However, the expert expresses a long-term belief in Bitcoin’s potential to evolve into a $1 million asset, indicating his confidence in the cryptocurrency’s future growth. Related Reading: XRP Price Targets $13 After Completing Highest Candle Body Close In History – Details On the other hand, Deutscher highlights that the most significant developments in the altcoin market will not materialize until the second half of the year.  The expert acknowledges the macroeconomic challenges currently facing the market, which he believes have slightly delayed the overall cycle. Interestingly, he notes the historical trend of altcoin seasonality, which typically favors the first half of the year, suggesting the possibility of two distinct upward runs in the crypto market. Cryptocurrency ETFs Set To Flourish In 2025 In 2025, Deutscher further expects artificial intelligence (AI) to remain a dominant narrative within crypto. He believes that the integration of AI will lead to a major transformation in decentralized finance (DeFi) and on-chain trading, particularly through the development of AI agents.  He forecasts that several AI-driven projects will achieve market capitalizations exceeding $1 billion, signifying a shift towards more sophisticated financial instruments. Deutscher also emphasizes the importance of Real World Assets (RWA), predicting they will gain significant traction throughout the year. He notes that asset tokenization is still in its infancy, with influential figures like Donald Trump and Larry Fink likely to champion this sector, fostering growth and innovation. Predictions regarding DeFi utility coins are particularly noteworthy. Deutscher anticipates that major protocols, such as Chainlink (LINK), Aave (AAVE), Enjin (ENA), and Uniswap (UNI), will outperform their peers as the market recognizes the value of income-generating utility protocols.  The expert argues that the market has yet to fully appreciate the potential impact of the Trump administration on DeFi, suggesting that a favorable regulatory environment will benefit these protocols significantly. Related Reading: Dogecoin Price Confirms Breakout: Analyst Sets New Price Targets Another key prediction from Deutscher involves the potential approval of exchange-traded funds (ETFs) for cryptocurrencies like Solana (SOL) and XRP. The analyst believes that a new regulatory regime will facilitate a more accommodating environment for cryptocurrency ETFs in 2025. In a broader context, Deutscher foresees a strategic Bitcoin reserve being established in the United States, paving the way for other nations to follow suit.  This shift towards sovereign and institutional adoption of Bitcoin is expected to gain momentum, further legitimizing the market’s leading cryptocurrency as a viable asset class. As of now, BTC is priced at $97,570, showing an increase of almost 4% over the past 24 hours. Featured image from DALL-E, chart from TradingView.com

The Bitcoin price looks set to enjoy a bullish reversal in January next year, having maintained a tepid price action to close out this year. This bullish outlook for the flagship crypto came as crypto analyst Tony Severino revealed a potential Doji formation, which suggested that BTC could enjoy this uptrend in the new year. Related Reading: Bitcoin ‘Head and Shoulders’ Setup Raises Fears Of $80,000 Price Drop – Details Doji Formation Could Lead To New Year Bitcoin Price Rally In an X post, Severino suggested that a Doji formation could lead to a Bitcoin price rally in the first two months of the new year. The analyst mentioned that he suspects BTC will end December with the Doji and then January shows a strong continuation for the flagship crypto. His accompanying chart showed that this strong continuation could extend into February.  The crypto analyst explained that a Doji represents a pause in the market due to indecision from buyers and sellers. He added that the following candlestick shows market participants the decision the market has made through strong continuation or a reversal. In this case, Severino expects that the following candlestick will show a strong continuation for the Bitcoin price.  Severino noted that a similar Doji at similar subwaves each resulted in two more months of upside before a local top was in for the Bitcoin price. Therefore, the crypto could enjoy two months of upside between January and February 2025 if history repeats itself. From a fundamental perspective, Donald Trump’s inauguration is one factor that could spark this strong continuation.  The BTC price rallied above $100,000 after Trump’s victory in the November US presidential elections. As such, the flagship crypto could continue this rally as Trump becomes the first pro-crypto US president. Moreover, the US president-elect may create a Strategic Bitcoin Reserve when he takes office, which would provide more bullish momentum for BTC. BTC Needs To Hold Above $92,730 In an X post, crypto analyst Ali Martinez remarked that the Bitcoin price needs to avoid dipping below $92,730, as if that level breaks, it will be in free-fall territory. The analyst’s accompanying chart showed that Bitcoin could drop to the $70,000 range if it breaks this $92,730 price level.  Related Reading: Bitcoin Exchange Reserves Surge: Are Traders Preparing For A Major Market Shift? However, in another X post, Martinez suggested that such a Bitcoin price drop might not necessarily be bad. This came as he stated that a 20% to 30% price correction is the most bullish thing that could happen to Bitcoin. Meanwhile, Martinez stated that the invalidation levels for his bearish Bitcoin outlook are a sustained close above $97,300 and a daily close above $100,000.  At the time of writing, the Bitcoin price is trading at around $94,400, down almost 2% in the last 24 hours, according to data from CoinMarketCap.  Featured image from Reuters, chart from TradingView

Analysts from the market intelligence company CryptoQuant note that current patterns in Bitcoin (BTC) metrics indicate possible changes in market dynamics. Bitcoin Price Faces Short-Term Volatility  After a period of steady decline, spot exchange reserves have experienced a notable uptick, reflecting an inflow of 20,000 BTC. This increase suggests that more Bitcoin is being deposited into exchanges, which often indicates an intention to trade or sell.  This type of behavior may add further selling pressure to the Bitcoin price, which has declined almost 7% over the last two weeks, signaling a potential early sign of short-term volatility. Related Reading: Cardano (ADA) Struggles to Hold Ground: Another Drop Incoming? Simultaneously, netflows across all exchanges have turned positive, with a net increase of 15,800 BTC. This reversal from the predominantly negative trend seen in recent weeks implies that inflows to exchanges are now exceeding outflows.  When combined with rising reserves, this shift strengthens the likelihood of increased trading activity or profit-taking by investors, according to CryptoQuant’s analysis.  While the broader trend in the market has favored accumulation and self-custody, these recent changes may reflect a growing caution among investors, who might be preparing for profit-taking or bracing for a potential price correction. Furthermore, a report by Bloomberg highlights a key metric gauging investor interest in Bitcoin from South Korea, which has risen to a four-month high amid ongoing political turmoil in the East Asian country.  Trading Volumes Surge As Political Crisis Unfolds Known as the “Kimchi Premium,” this metric measures the price gap between Bitcoin on South Korean exchange Upbit and Coinbase. Recently, this premium surged to the range of 3-5%, indicating heightened demand from South Korean investors.  Per the report, the political landscape in South Korea has been tumultuous, particularly following President Yoon Suk Yeol’s brief and controversial declaration of martial law earlier this month, which lasted only six hours before being rescinded.  Subsequently, the National Assembly impeached Yoon on December 14, suspending his powers and elevating Prime Minister Han Duck-soo to the role of acting president. In a further development, the parliament voted to impeach Han as well, marking a historic first for an acting president in South Korea.  These political upheavals have rattled financial markets, coinciding with growing economic challenges and increasing nuclear threats from North Korea. The South Korean won has also seen a decline of 0.35% against the US dollar. Related Reading: Ethereum Price Setting For a Big Move – Breakout Or Downturn? According to Bloomberg, South Korea remains one of the most active retail markets for cryptocurrencies, with trading volumes on Korea-based exchanges often surpassing those on traditional stock exchanges.  Ki Young Ju, founder and CEO of CryptoQuant, pointed out that corporate accounts are not permitted on Korean crypto exchanges, meaning that the vast majority of crypto activity in the country is driven by retail investors.  The Kimchi Premium has become a well-known metric for measuring retail interest in cryptocurrency, and factors such as strict currency controls and anti-money laundering (AML) regulations have contributed to this phenomenon. At the time of writing, BTC is priced at $93,938, experiencing a 2.5% decrease over the last 24 hours, with its closest support level at $92,000 serving to halt additional declines for the top cryptocurrency in the market. Featured image from DALL-E, chart from TradingView.com 

According to reports, on December 17, Bitcoin (BTC) hit a new all-time high (ATH) of $107,756.83 before falling to $106,657.32 at the time of writing. It continues to rule the cryptocurrency field thanks to its strong bullish momentum, which has market watchers wondering if it could soon shatter this record and reach a new all-time high. Reasons Behind the Rise The price surge of Bitcoin has been largely driven by institutional investment, as evidenced by the large purchases of Bitcoin by companies such as MicroStrategy and Riot Platforms, which have increased market confidence. In addition, the inclusion of MicroStrategy in the Nasdaq 100 stock market Index has further fueled optimism. Take precautions against inflation and economic uncertainty. The state of the economy and politics has also had an impact on the rise of Bitcoin. Speculation over potential federal Bitcoin reserves and inflationary pressures have led to a rise in investments as a hedge against economic instability. Developments in technology and network enhancements. With the help of network improvements and technological breakthroughs, Bitcoin’s technical indicators have demonstrated robust bullish momentum. Analysts anticipate more expansion since higher lows and the development of bullish patterns indicate a long-term upward trend.   Related Reading: Bitcoin Price Moves Similarly To The Elliot Wave Count From 2017, Why Price Can Jump Another 80% Bitcoin Price Prediction After reaching a high of $107,756.83 on December 17, Bitcoin is currently rising, rising 1.74% in the previous day and 10.83% in the last week. Earlier this month, it reached a record high of $100,000 and had an 18.41% increase over the previous 30 days.  Chart illustrating BTC reaching an all-time high of $107,756.83 on December 17, 2024, based on TradingView.com According to analysts, BTC’s surge to a new ATH was driven by a series of short liquidations. With the increasing investor sentiment backing Bitcoin, it’s no surprise that BTC’s price is soaring these days. Related Reading: Bitcoin Confidence Grows As Binance Data Highlights Surprising Market Trends But can BTC set a new record high again soon? Analysts and market observers debate that it could hit another new record as the anticipated bull run looms on the horizon. Additionally, President-elect Donald Trump’s return to the White House in 2025 and his pro-crypto stance could also bring a fresh boost to the cryptocurrency market. This combination of favourable market conditions and political shifts suggests Bitcoin could soon break new records. Can Bitcoin Record A New ATH With Growing Interest?  The most well-known cryptocurrency, BTC, reached a new all-time high of $107,756.83 on December 17. This has market watchers wondering if it will soon set a new milestone. Analysts argue that with the expected bull run and Trump’s forthcoming term sets in January 2025, Bitcoin may soon set a new record price.    Featured image from Pixabay, Chart from TradingView

The Bitcoin (BTC) price held just below $100,000 at the week’s end, falling 7% to roughly $91,000 on Thursday. This milestone has inspired speculation about Bitcoin’s short, medium, and long-term behavior in the face of increased market volatility.  Expert Predicts Bitcoin Could Reach $200,000 According to market expert VirtualBacon, while the $100,000 level is noteworthy, it does not represent the pinnacle of Bitcoin’s potential. He refers to the current phase as the “thrill stage,” in which retail investors are motivated by fear of missing out (FOMO) and media hype. Although Bitcoin’s march to $100,000 may not indicate an early entry point, VirtualBacon predicts it will eventually hit $200,000, citing past price cycles. However, the expert cautions that investors should be prepared for 20% to 30% corrections, but he remains confident about Bitcoin’s long-term potential.  Related Reading: XRP Price Marks $2.13 And $2.92 As Primary Fibonacci Levels, What Happens When Wave 2 Begins? Regarding the present bull run’s longevity, VirtualBacon alludes to previous cycles that show major price increases often last 6 to 10 months. He observes that previous bull runs often peaked 6 to 10 months after important milestones, such as Bitcoin’s halving events. VirtualBacon also drew comparisons between Bitcoin’s latest breakthrough of the $100,000 milestone and its initial breach of the $10,000 level in 2017, which resulted in a quick doubling of the price within 20 days. If history repeats itself, the analyst believes that the Bitcoin price might skyrocket to $200,000. However, if the price consolidates around $100,000, it could signal a sustained bull run, which would be beneficial to altcoins.  Ethereum: A ‘No-Brainer Investment’ While the euphoria surrounding Bitcoin’s surge above $100,000 is apparent, VirtualBacon emphasizes that the real potential are in altcoins. He believes that when Bitcoin consolidates, altcoins will certainly take center stage. Ethereum (ETH), in particular, is outperforming Bitcoin, predicting an upcoming altcoin season. During past cycles, Ethereum outperformed Bitcoin by a factor of 2.5. If Bitcoin reaches $200,000, VirtualBacon predicts that Ethereum may grow to $15,000, indicating a fourfold increase.  Related Reading: Analyst Confirms Ethereum Golden Cross As ETH Surges Past $4,000 – Is Altseason In Sight? Interestingly, VirtualBacon considers Ethereum a “no-brainer investment” at this time, citing its “significant undervaluation” and ability to generate at least a 3x return, with realistic price targets ranging from $10,000 to $12,000.  Finally, VirtualBacon advised monitoring Bitcoin’s performance in relation to its 200-day exponential moving average. He expects the bull market to continue until late 2025, creating several possibilities for wise investments. At the time of writing, the largest cryptocurrency on the market, BTC, was trading at $99,670, up 3.2% on the week. Over longer time frames, Bitcoin still shows significant gains of over 31% and 129% on a monthly and year-to-date basis, respectively. Featured image from DALL-E, chart from TradingView.com 

President-elect Donald Trump, now a vocal supporter of Bitcoin, took to social media to congratulate cryptocurrency holders on surpassing the $100,000 milestone for the first time in history. Bitcoin Price Surpasses $100,000 In a post on Truth Social, Trump expressed his excitement and support, stating, “CONGRATULATIONS BITCOINERS!!! $100,000!!! YOU’RE WELCOME!!! Together, we will Make America Great Again!” Trump’s Bitcoin endorsement aligns with his campaign promises to position the United States as the “crypto capital of the world.” His administration, set to begin on January 20, 2025, is expected to implement significant regulatory changes through agencies like the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC).  Related Reading: Hut 8 Unveils $750 Million Initiative To Establish Strategic Bitcoin Reserve These proposed adjustments are critical to fostering the growth of the digital asset ecosystem, which Trump believes will be a cornerstone of his presidency and a notable shift from President Biden’s administration and treatment of the nascent financial sector. The timing of Trump’s announcement coincides with the resignation of current SEC Chair Gary Gensler, who stated that his last day at the agency will also be January 20. This transition is anticipated to pave the way for former SEC Commissioner Paul Atkins, who is expected to take the helm with a pro-crypto vision.  Legal chief Dan Gallagher of Robinhood Markets expressed confidence in Atkins, noting, “Paul Atkins was made for this job,” and predicting that he would tackle the industry’s concerns regarding “regulation by enforcement” from day one. BTC Valuation Surpasses Major Public Companies The recent surge past $100,000 has propelled Bitcoin’s market capitalization to over $2 trillion, making it a more substantial asset than most public companies, including tech giants like Nvidia, Apple, and Alphabet.  This valuation also surpasses the government bond markets of several countries, including Spain and Brazil, and approaches the market capitalization of the FTSE 100 Index in the UK. Analysts are optimistic about the future, with Fadi Aboualfa, head of research at Copper Technologies, stating that reaching $100,000 indicates the beginning of a new phase in the bull market, one that appears resilient to external shocks.  Manuel Villegas, a digital assets analyst at Julius Baer, added that the demand for Bitcoin remains strong, suggesting the possibility of a supply squeeze in the coming year, similar to previous trends. Related Reading: Dogecoin (DOGE) Bounces Back: Is a New Rally Brewing? Moreover, Trump’s return to the White House could signal a shift in government involvement in Bitcoin. During a Bitcoin conference earlier this year, Trump proposed the idea of creating a strategic stockpile of Bitcoin, starting with assets seized by the US government.  Allies like Robert Kennedy Jr. and Republican Senator Cynthia Lummis have even suggested that the government could purchase 1 million Bitcoin, worth approximately $100 billion at current prices, as a means to back the US dollar. Starting Thursday, Bitcoin reached a new all-time high of $104,150 per coin, marking a substantial 6.6% surge within 24 hours. However, since that peak, the price has retraced to around $103,000 The question now is whether this upward trend can be sustained or if profit-taking by investors will lead to a correction for the leading digital asset. The future outlook will also depend on the next key support level, with $100,000 as a critical point that could facilitate further price increases. Featured image from CNBC, chart from TradingView.com 

As attention shifts to altcoins, Bitcoin (BTC) has experienced a pause in the uptrend that has characterized the past month. Currently trading 3.8% below its record high of $99,540, questions are raised about the sustainability of this growth and the possibility of a correction as the year draws to a close. Investors Flock To Ethereum And XRP Chris Newhouse, director of research at Cumberland Labs, pointed out that while strong institutional buying pressure persists—particularly from companies like MicroStrategy, which continues to accumulate Bitcoin—there is a noticeable shift in capital flows.  Newhouse noted that the broader crypto ecosystem is experiencing a “diversification of capital flows” from both institutional and non-institutional participants.  This diversification indicates that as Bitcoin stabilizes, investor interest is increasingly shifting to other digital assets, including Ethereum (ETH) and XRP, which had previously lagged behind Bitcoin.  Related Reading: XRP Q3 Overview: Key Metrics Suggest A Bright Future For The Third Biggest Crypto Following the victory of President-elect Donald Trump, who has emerged as a crypto advocate, expectations for more favorable US regulations have risen. This has contributed to the massive rally in the XRP price, which has seen a 400% increase in the monthly time frame. This optimism is also reflected in the record monthly net inflows into Bitcoin and Ethereum exchange-traded funds (ETFs) in November, which reached $6.5 billion and $1.1 billion, respectively. Bloomberg data shows that last Friday marked an all-time high for daily Ether ETF subscriptions. $2 Billion Silk Road Bitcoin Moved To Coinbase In the options market, there has been a noticeable increase in downside protection for Bitcoin at later expiries this month. Meanwhile, BTC futures have exhibited moderate leverage, remaining relatively subdued after Bitcoin surpassed the $99,000 mark.  According to Vetle Lunde, head of research at K33, on-chain data suggests that traders who purchased BTC in the $55,000 to $70,000 range are now actively realizing profits. “Profit-taking has been particularly intense with BTC trading north of $90,000,” Lunde remarked. Jake Ostrovskis, a trader at Wintermute OTC, observed that “the market has taken a pause over the last 10 days as Bitcoin sits just under $100,000. Volatility levels have compressed slightly, with Bitcoin in the 64th percentile and Ether significantly higher at the 81st.”  This volatility compression suggests a cautious sentiment among traders as they assess the market’s next moves, with the potential for a fresh wave of lower support levels to be retested in BTC’s price action, which could jeopardize the $100,000 milestone being reached by the end of the year. Related Reading: CryptoQuant CEO Warns Not To Short XRP Due To Insider Whale Activity Adding to the uncertainty in the market is a recent development reported by NewsBTC on Monday that nearly $2 billion worth of BTC previously confiscated from the Silk Road marketplace has been moved from US government wallets to Coinbase.  Such moves often spark speculation among traders, as similar moves by the US government to massively liquidate its holdings contributed to the downtrend in the second and third quarter of the year, when BTC fell over 20% in two consecutive months.  At the time of writing, BTC is trading at $94,480, down 0.5% over the past 24 hours. Featured image from DALL-E, chart from TradingView.com

Despite a notable pause in its upward trend, Bitcoin (BTC) is approaching the landmark $100,000 mark, fueled by expectations of supportive policies for the sector from US President-elect Donald Trump. On Tuesday, the largest digital asset traded above the key $95,000 mark, acting as support for the past 24 hours. This reflects a remarkable surge of over 40% since Trump’s election victory on November 5. Could A National BTC Reserve Become Reality?  Trump’s administration is expected to reverse the Biden administration’s stringent regulations on digital assets, which could significantly alter the landscape for cryptocurrencies in the US.  The Republican party is already positioning crypto-friendly candidates to lead key regulatory bodies, including the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC).  Related Reading: XRP Q3 Overview: Key Metrics Suggest A Bright Future For The Third Biggest Crypto Additionally, discussions within Trump’s transition team have included the potential creation of a dedicated White House position focused on digital-asset policy. President-elect Trump has voiced ambitions to establish the US as the global hub for cryptocurrency, even proposing the concept of a national Bitcoin reserve. However, analysts express skepticism about the practicality of this idea.  Jaret Seiberg from TD Cowen noted that while Trump may advocate for a Bitcoin reserve in public forums, it would require significant political capital to implement, especially given his firm stance on maintaining the US dollar’s status as the world’s primary currency. Crypto advocate Paul Atkins is considered a strong candidate to replace outgoing SEC chairman Gary Gensler. The current chair officially announced his resignation last week, effective January 20, the day of Trump’s inauguration. Gensler has played a key role in enforcing compliance in the digital asset space, especially after a tumultuous 2022 that saw a significant market downturn and significant financial losses for investors following the implosion of the once Sam Bankman-led FTX exchange. Political Instability In South Korea Drives Bitcoin Prices Below $72,000 Bitcoin and other cryptocurrencies, such as XRP and Dogecoin (DOGE), have experienced notable price discrepancies in South Korea due to local political instability.  Following the imposition and subsequent rescinding of martial law by President Yoon Suk Yeol, Bitcoin’s price on South Korean exchanges dipped below $72,000 at one point, reflecting heightened risk aversion among investors. Related Reading: CryptoQuant CEO Warns Not To Short XRP Due To Insider Whale Activity However, the overall cryptocurrency market has seen a staggering increase since Trump was declared president-elect, with total market capitalization rising by approximately $1.3 trillion, according to data from CoinGecko.  At the time of writing, BTC is trading at $95,840, posting slight losses of 0.2%, but halting the upward trend seen over the past few months. Over the past 8 hours, attention has shifted to altcoins such as BNB, which hit a new record high, and XRP, which is trading just 20% below its all-time high.  Featured image from DALL-E, chart from TradingView.com