The combined supply of top four stablecoins has stabilized with barely any change over the 30-day period.
Neutral in the short-term, bullish in the long-term. With that view in mind, pro traders explain that a certain “player versus player” mindset is at play in the crypto market this month.
The push for crypto adoption is getting stronger as individual states explore plans to use state funds to buy Bitcoin. North Dakota is the latest state to join the conversation after both houses approved the recommendation. Related Reading: Could Germany’s Bitcoin Push Set A New Standard In Digital Currency? Under House Concurrent Resolution No. 3001, […]
“If Washington D.C. can ruin something, it likely will. And it is certainly ruining the US Dollar,” said Senator Deevers after introducing the bill.
A recent report by digital assets research firm 10x Research highlights that the US Federal Reserve’s (Fed) stance on interest rate cuts remains the most significant hurdle that could dampen the current Bitcoin (BTC) rally. Bitcoin’s Trump-Fuelled Rally At Risk Ahead Of FOMC Meeting Since pro-crypto Republican candidate Donald Trump secured victory in the November presidential election, Bitcoin has climbed an impressive 47%, rising from approximately $67,500 on November 4 to around $99,700 as of January 6. Related Reading: Metaplanet Bitcoin Reserves Grow With Fresh $61 Million Purchase While further gains are anticipated during the so-called “Trump rally” leading up to the January 20 inauguration, the momentum might stall ahead of the Federal Open Market Committee (FOMC) meeting later in January, says 10x Research’s Markus Thielen. Thielen predicts a “positive start” to January for BTC, followed by a slight dip before the Consumer Price Index (CPI) inflation data release on January 15. A favorable CPI report could reignite optimism, potentially fueling another rally before Trump’s inauguration. However, Thielen cautions that bullish momentum may wane ahead of the FOMC meeting on January 29. Latest data from CME Group’s FedWatch tool shows that interest rates are likely to remain unchanged following the upcoming FOMC meeting. The tool currently predicts a 90.9% chance of interest rates remaining 425 and 450 basis points (BPS). Bitcoin’s decline of approximately 15% to $92,900 following the December 18 FOMC meeting underscores the Fed’s significant influence. This drop came after the Fed signaled only two rate cuts for 2025 instead of five, reinforcing Thielen’s view that the Fed’s decisions are the “primary risk” to BTC’s current bullish trajectory. Thielen stated: We anticipate lower inflation this year, though it may take some time for the Federal Reserve to recognize and respond to this shift formally. Thielen also cited institutional participation as a key factor influencing Bitcoin’s short-term price action, with metrics like stablecoin minting rates and crypto exchange-traded fund (ETF) inflows serving as indicators of institutional interest. Institutional Interest In Bitcoin Continues To Rise Although US spot Bitcoin ETFs faced significant outflows at the end of December, fresh inflows have sparked optimism about rising institutional interest in the premier cryptocurrency. Data from SoSoValue notes that spot Bitcoin ETFs saw $908 million in inflows on January 3. Related Reading: Bitcoin May Face ‘Demand Shocks’ In 2025 Due To Growing Institutional Interest: Report In addition, several major BTC mining firms such as MARA and Hut 8 are bolstering their BTC reserves. Technology firms such as Canada-based video-sharing platform Rumble also recently unveiled a $20 million BTC treasury strategy. A separate report by cryptocurrency exchange Bitfinex predicts Bitcoin could surge to $200,000 by mid-2025, despite minor price pullbacks. At press time, BTC trades at $101,555, up 3.7% in the last 24 hours. Featured image from Unsplash, charts from 10x Research, CME FedWatch and Tradingview.com
Investors are boosting Bitcoin allocations as a hedge against geopolitical uncertainty, the bank said.
Bitcoin is capturing global attention as its price surges toward the monumental $100,000 mark, a level that holds psychological and technical significance in the cryptocurrency market. This move is backed by strong market support and rising optimism among institutional and retail investors. The current uptrend showcases Bitcoin’s resilience as key support levels have successfully absorbed selling pressure, paving the way for sustained bullish momentum. Analysts suggest that the ongoing rally could redefine market dynamics, potentially attracting a new wave of capital and solidifying BTC’s dominance in the crypto space. Approaching this critical benchmark, Bitcoin faces its next big test, which is breaking through the $100,000 resistance level. Surpassing this level could open the door for even higher price levels as investor confidence reaches new heights. On the other hand, failure to breach this milestone might trigger a short-term correction, offering a strategic entry point for those waiting on the sidelines. Recent Move Signals Uptrend For BTC Bitcoin’s recent rally can be ascribed to several key factors. Institutional investors have increasingly embraced Bitcoin, recognizing it as a store of value and a hedge against inflation. Related Reading: Bitcoin Price Climbs: Is This the Start of a Bigger Rally? Additionally, growing adoption from retail investors with Bitcoin’s limited supply has created a perfect storm for price appreciation. As Bitcoin pushes higher, strong support levels have allowed it to maintain its bullish trajectory, with each price surge being met with healthy buying interest Technical indicators also point to continued upside potential. Momentum oscillators, such as the Relative Strength Index (RSI), are currently in favorable positions, suggesting that Bitcoin’s uptrend is likely to continue in the near term. Furthermore, the price has consistently maintained above critical moving averages, reinforcing the overall optimistic sentiment in the market. As Bitcoin nears the $100,000 mark, it may face new challenges, including potential resistance levels and heightened volatility. However, the cryptocurrency’s ability to maintain strong support, coupled with an increasingly positive market environment, positions it for continued growth. If Bitcoin can break through the $100,000 level and sustain its momentum, it may set the stage for a new growth phase, targeting higher levels in the future. Can Bitcoin Maintain Its Upward Trajectory Beyond $100,000? If Bitcoin breaks through the $100,000 mark and sustains its upbeat momentum, it could open the door to more growth, targeting the $104,268 resistance level. A decisive move above this level might drive Bitcoin toward the next hurdle at $108,311. Related Reading: Bitcoin Set For Encounter With Key $99,900 Price Level – Analyst However, should BTC fail to surpass the $100,000 resistance level, it may face increased selling pressure and a possible pullback to its previous low of $93,257, where bullish momentum can be reignited. Featured image from iStock, chart from Tradingview.com
Following the Federal Open Market Committee (FOMC) meeting on December 18, global equity market indices have experienced a slight downturn. However, Bitcoin (BTC) has held steady, trading in the mid-$90,000 range at the time of writing. Bitcoin Steady Amid Speculations Of Slower Interest Rate Cuts After over a year of consecutive interest rate hikes, the […]
Even with Bitcoin surging past $100,000 for the first time, some critics have remained skeptical about the cryptocurrency’s future.
Crypto execs are confident that it won’t be easy to enforce Brazil’s self-custodial stablecoin ban, with many examples proving that further decentralization is inevitable.
The company announced the acquisition of $1 million in Bitcoin and other cryptocurrencies on Dec. 20, triggering a 10% drop in its stock.
The Bitcoin to gold ratio hit a new ATH at 40 gold ounces per BTC as the Bitcoin price peaked above $106,000 on Dec. 16.
According to a report by crypto asset management firm Sygnum, institutional investor-led ‘demand shocks’ could propel Bitcoin (BTC) prices to new highs in 2025. However, altcoins may underperform due to factors such as reduced capital rotation from BTC to other cryptocurrencies. Bitcoin Likely To Continue Its Momentum Into 2025 In a report titled Crypto Market Outlook 2025, asset manager Sygnum outlined multiple factors that are likely to further push BTC price upwards next year. The report highlights new capital inflows into the market – particularly institutional inflows – as the primary driver for the crypto bull market in 2025. Related Reading: Bitcoin On Track For $275,000? Analyst Cites Cup And Handle Formation The analysis highlights a ‘multiplier effect’ caused by institutional inflows combined with Bitcoin’s limited liquid supply. For instance, every $1 billion of net inflows into spot BTC exchange-traded funds (ETFs) reportedly triggers a 3-6% price increase. Additionally, the report notes that Bitcoin’s price momentum is amplified by the concept of reflexivity – demand for BTC grows as its price rises, creating a feedback loop. Together, institutional inflows, the multiplier effect, and Bitcoin’s reflexivity are expected to make 2025 a pivotal year for the cryptocurrency. The report also emphasizes the importance of a pro-crypto regulatory climate in the US, following the confirmation of Donald Trump’s victory in the November presidential election. The outcome is widely seen as favorable for crypto legislation, with expectations of a comprehensive regulatory framework that could provide much needed clarity for the industry. The election outcome bodes well for crypto legislation, with widespread expectation of the establishment of a comprehensive regulatory framework, which includes clarifying the status of crypto assets and defining the roles of the regulatory bodies. It is expected that the CFTC’s role in crypto oversight will be extended, and the chances of the various crypto bills passing and being written into law have increased substantially. Some of the major crypto bills that will be in focus are The Payment Stablecoin Act, The Bitcoin Act – which compels the US government to build a strategic BTC reserve – The CBDC Anti-Surveillance Act, and several other bills that support crypto self-custody, crypto mining, and decentralized finance. 2025: A Watershed Year For BTC The report predicts that institutional giants such as BlackRock, Fidelity, and Morgan Stanley will continue increasing their exposure to crypto. Notably, some portfolios now allow allocations of up to 25% for crypto investments, though typical allocations remain in the 1-3% range. Related Reading: Anthony Scaramucci Foresees China Bitcoin Strategic Reserve In 2025 Further, BTC may benefit from central banks and local governments considering setting aside some part of their funds for BTC reserves. Notably, countries like El Salvador and Bhutan are already actively mining and accumulating BTC as part of the wider national economic strategy. The report adds that 2025 inflows into crypto ETFs are likely to be ‘substantially higher’ than the net inflows to date. As of December 11, the total net assets in US-based spot BTC ETFs stands at $113.72 billion, according to data from SoSoValue. Despite the optimistic forecasts, the report acknowledges several potential risks that could dampen Bitcoin’s bullish trajectory. These include inflationary pressures, geopolitical uncertainties, and the increasing dominance of Tether in the stablecoin market. At press time, BTC trades at $100,940, up 0.9% in the past 24 hours. Featured image from Unsplash, Chart from TradingView.com
Bitcoin (BTC) fell to $94,500 yesterday after Microsoft shareholders decisively rejected a Bitcoin treasury proposal to allocate 1% of the company’s total assets to buy BTC as an inflation hedge. However, analysts are still confident of further appreciation of the BTC price. Bitcoin May Surge As High As $275,000 According to data from Coinglass, over $478 million worth of contracts – primarily long positions – were liquidated in the past 24 hours following the plunge in BTC and other cryptocurrencies. Interestingly, liquidation volumes were higher in altcoins compared to Bitcoin. Related Reading: Bitcoin Resets Open Interest, Targets $100,000 After Holding Key Support – Details However, some analysts view this price dip as a buying opportunity. Seasoned crypto analyst Ali Martinez took to X to highlight a long cup and handle pattern forming on Bitcoin’s weekly chart. For those unfamiliar, the cup and handle pattern is a bullish technical formation that resembles a rounded “cup” followed by a brief consolidation period or “handle.” It typically signals the potential for a continuation of an uptrend, often leading to significant price gains. Martinez noted that the pattern suggests Bitcoin could surge as high as $275,000, based on its technical structure. However, he also urged traders to exercise caution and avoid overleveraging their positions. On the other hand, prominent crypto analyst @Trader_XO warned that Bitcoin must maintain its support at $90,000 to avoid further downside. Should BTC lose this critical level, it could drop as low as $85,000. Conversely, holding above $90,000 would allow the cryptocurrency to rebound and resume its uptrend. BTC Takes Another Jab At Breaking Through $100,000 Despite yesterday’s dip, Bitcoin recovered swiftly, trading near $100,000 at the time of writing. The flagship cryptocurrency has remained in an overall uptrend, likely bolstered by today’s US inflation data for November, which largely aligned with market expectations. Related Reading: Bitcoin Price Could Peak In 200 Days, Before US Recession In Mid-2025, Report Says Bitcoin recently hit a new all-time high (ATH) of $103,679, according to data from CoinGecko. However, its price has fluctuated above and below the pivotal $100,000 mark, leading to over $1.5 billion in liquidations in the past week. Several factors could drive Bitcoin’s price to a new ATH. For instance, BTC reserves on cryptocurrency exchanges have hit multi-year lows, reflecting rising demand for the digital asset. American financier and former investment banker Anthony Scaramucci recently predicted China might establish its own Bitcoin reserve if the US proceeds with its strategic Bitcoin reserve plans. National BTC reserves are expected to reinforce Bitcoin’s supply scarcity narrative, potentially driving prices higher. At the same time, BTC adoption among corporations continues to rise, as Canadian video-sharing firm Rumble became the latest company to unveil a BTC treasury strategy. BTC trades at $100,453 at press time, up 4.1% in the past 24 hours. Featured image from Unsplash, Charts from X and TradingView.com
Brazil, the second-largest market for stablecoin transactions, could be set to ban stablecoin withdrawals to self-custodial wallets like MetaMask.
While the crypto market eagerly anticipates Bitcoin (BTC) breaking the $100,000 price level, the premier cryptocurrency may have even more room for growth in 2025 as the global M2 money supply expands. Global Liquidity Surge: A Catalyst For Bitcoin? In a detailed analysis on X, Jamie Coutts, chief crypto analyst at Real Vision, brought his […]
Everything but ETH seems to be rallying, even though Ethereum’s DApp volumes are surging. What gives?
Data suggests Bitcoin’s all-time high rally to $93,400 is far from over.
Bitcoin fell to $85,000, as CPI data came in hotter month-over-month as odds of a Fed pause increase at next policy meeting in December.
Headline inflation year-over-year is expected to increase by 0.2% and end a six-month consecutive decline, last seen in March 2024.
Trader and investor Michaël van de Poppe says many in the crypto community underappreciate the impact of America’s ballooning debt.
The United States dollar has lost approximately 96% of its value since the Federal Reserve Bank was established in 1913.
If Bitcoin matures as a store-of-value asset and governments continue to debase their fiat currencies, its price will surge well into six-figure territory, predicts Bitwise CIO Matt Hougan.
Bitcoin price rallies as traders react to geopolitical and economic uncertainty, as the potential outcome of the upcoming US election.
The investment manager’s long-term model puts BTC’s price at roughly $3 million by 2050.
According to the paper, central banks collectively hold $2.2 trillion in gold as of Q1 2024 and continue to expand their gold allocations.
Need to know what happened in crypto today? Here is the latest news on daily trends and events impacting Bitcoin price, blockchain, DeFi, NFTs, Web3 and crypto regulation.
Bitcoin’s upcoming price recovery will be driven by a handful of unique factors.
The hedge fund veteran also suggests holding gold, commodities, and technology stocks.
The fund touts leveraged exposure to Bitcoin and gold as investors brace for inflation and geopolitical strife.