1/2/2025

Bitcoin price today: steadies at $95k after year-end rout

Bitcoin steadied on Thursday after falling sharply in the last week of 2024 as traders fretted over the regulatory outlook for crypto under incoming President Donald Trump. Broader risk appetite was also stymied by losses on Wall Street, as the prospect of slower rate cuts in 2025 sparked some profit-taking towards the end of the year. Bitcoin was also subject to profit-taking after rallying over 100% in 2024, with a bulk of its gains coming after Trump’s victory in the 2024 presidential election. The world’s largest cryptocurrency rose 1.8% to $95,469.5 by 00:12 ET (05:12 GMT), after falling as low as $92,000 in the past week. Bitcoin slides below $100k in year-end rout Bitcoin slid below the coveted $100,000 level over the past week as traders locked in some profits at the end of the year. The crypto had surged to a record high of over $108,000 earlier in December, as it benefited from speculation over friendlier regulations under Trump. But it failed to hold this level amid sustained profit-taking, while traders also questioned just what Trump’s policies will entail for crypto. Trump pledged to enact friendlier regulations for the crypto industry, and nominated a slew of crypto-friendly candidates for key regulatory positions, especially the Chair of the Securities and Exchange Commission. But doubts emerged over his other promises, particularly his vow to establish a Strategic Bitcoin reserve. Broader cryptocurrency prices rose sharply as they recovered some of their losses over the past week. World no.2 crypto Ethereum rose 2.1% to $3,411.12, while world no.3 token XRP jumped 13.7% to $2.3904. Risk appetite was also rattled by the prospect of slower interest rate cuts by the Federal Reserve in 2025, after the bank signaled as much during its December meeting. The Fed cited uncertainty over sticky inflation and a change in administration in the White House. Higher rates bode poorly for speculative assets such as crypto, given that they limit the amount of capital that can be deployed for investment in such assets. Among other altcoins, Solana, Cardano and Polygon rose between 6% to 10%, while among meme tokens, Dogecoin added 5%.  

12/14/2024

What's Next for Bitcoin? On-Chain Data Signals What's Coming

Bitcoin, the first and largest cryptocurrency by market capitalization, rose to a high of $102,650 in Saturday's trading session as the crypto market closed off the week. According to Santiment, despite the price recovery, social media chatter around buying Bitcoin remains surprisingly muted, reflecting a cautious sentiment in the market. This lack of enthusiasm presents a compelling setup for Bitcoin&rsquo;s next big swing, with on-chain data offering crucial clues for timing potential buy and sell opportunities. According to Santiment, based on the social dominance indicator, the best times to buy are when the crowd is panicked, and the best times to sell are when the crowd is greedy. Per a chart presented by Santiment, it was observed that a high ratio of sell versus buy interest led to a Bitcoin rise on Nov. 26 and Dec. 2, however, the high ratio of buy versus sell interest on Nov. 21 and Dec. 5 saw Bitcoin drop afterward. Currently, the quiet buy calls on social media might signal that the market is not yet in a state of greed. This might suggest that there might still be room for Bitcoin to grow before reaching a peak where selling would be advantageous. <div id="article-newsletter-hook">&nbsp;</div> &nbsp; <h2>Bitcoin surpasses $102,000</h2> The cryptocurrency market surged on Wednesday, after two days of digestion following Bitcoin's historic rally to $100,000 last week. Cryptocurrencies received an additional boost as the November consumer price index came in as expected, up 0.3% from October and 2.7% from a year ago. Speculators believe that the figure clears the way for the Federal Reserve to drop interest rates again at its December meeting next week. <div class="pt-5"> <div class="relative font-sans-v2 before:!text-3xs before:leading-3 ad_ad__II8vw ad_ad__label__2NPqI before:!-top-3 before:!bg-transparent before:!p-0 before:!normal-case before:tracking-wide before:!text-[#5B616E] after:hidden !mt-3 !pt-2" data-test="ad-slot-visible" data-ad-label="Advertisement"> <div class="pointer-events-none animate-pulse cursor-default select-none rounded-sm bg-slate-300 !bg-clip-padding text-transparent !shadow-none duration-1000 before:invisible after:invisible absolute inset-0 -z-1">Bitcoin retested the $102,000 level for the second time this week, the first being on Thursday, and reached intraday highs of $102,650 in today's trading session.</div> </div> </div> Investors expect to see a continued chop for Bitcoin around the $100,000 level but remain optimistic that its price might double in the year ahead. Bitwise and Bernstein predict a cycle high of $200,000 in 2025. In a 2025 prognosis published Wednesday, Fundstrat's Tom Lee predicted that Bitcoin would have an "upside to $250,000" next year. Bitcoin's recent record high is $103,844.

12/2/2024

XRP: $3 Isn't Fantasy Right Now, Shiba Inu (SHIB) Performs Mind-Blowing Breakthrough, Bitcoin (BTC) Giving up on $100,000?

XRP&nbsp;is still at the top of the cryptocurrency market, up 20% in just one day, reaching $2.44. As of right now, its market capitalization is $132 billion, making it the fourth-largest cryptocurrency in terms of market value. Along with increasing investor optimism, this spike has spurred discussions about whether XRP will soon hit $3. According to the price chart, XRP has experienced a parabolic rise, decisively surpassing several resistance levels, including the noteworthy $2 milestone. Strong trading volume backs this upward trend, especially on South Korea's Upbit exchange, where it hit $3.69 billion. XRP's distinct position in the current market cycle was highlighted by the noticeably lower trading volumes of&nbsp;Ethereum&nbsp;and&nbsp;Bitcoin. Now the question is whether XRP can continue on this path and reach $3. Given the current momentum, it seems likely. Around $2.75 is the next important resistance level which, if broken, could open the door to a $3 breakout. With a price above $3, XRP will reach new heights for this rally, possibly reaching $3.50, contingent on market circumstances and sustained interest from institutional and retail investors. But it is important to remember that XRP's RSI is at 87, which indicates that the market is overbought. This increases the possibility that there will be a consolidation or pullback period prior to another leg up. The levels of $1.70 and $2.20 are important support levels to keep an eye on since they serve as buffers in case of a correction. The ascent of XRP to $3 is now a reality. With record-breaking trading volumes and strong fundamentals, this ambitious goal has a strong basis. <div class="pt-5"> <div class="relative font-sans-v2 before:!text-3xs before:leading-3 ad_ad__II8vw ad_ad__label__2NPqI before:!-top-3 before:!bg-transparent before:!p-0 before:!normal-case before:tracking-wide before:!text-[#5B616E] after:hidden !mt-3 !pt-2" data-test="ad-slot-visible" data-ad-label="Advertisement"> <div class="pointer-events-none animate-pulse cursor-default select-none rounded-sm bg-slate-300 !bg-clip-padding text-transparent !shadow-none duration-1000 before:invisible after:invisible absolute inset-0 -z-1">&nbsp;</div> </div> </div> <h2 dir="ltr">Shiba Inu&nbsp;gains attention</h2> With an outstanding breakout, Shiba Inu has drawn market attention and strengthened its position above the critical $0.00003 level. This movement demonstrates fresh momentum as SHIB has effectively surmounted significant resistance levels, driven by robust buying interest and increasing trading volumes. According to a chart analysis, the recent rally indicates that SHIB is emerging from a period of consolidation, propelled by an increase in market activity. A positive indication is the price's continuous upward momentum, even though it briefly touched $0.000031 before retracing slightly. The 21 EMA has served as reliable support, and the strength of this move was further supported by the breakout and a spike in trading volume. Staying above $0.00003 is not assured though, particularly in light of the larger market dynamics. The overall state of the cryptocurrency market is still unstable, and SHIB's RSI is overbought at 70, indicating that there may be a brief correction or consolidation. The amount of $0.000027 might provide instant support in the event of such a pullback, with $0.0000249 being the next crucial level to keep an eye on. On the plus side, additional gains might be possible if SHIB can maintain its position above $0.00003. Based on market sentiment and ongoing bullish momentum, a successful move past $0.000032 could lead to $0.000035, or even $0.00004. SHIB will require sustained support from the larger market, especially from Bitcoin and Ethereum, which frequently drive altcoin movements in order to continue on its upward trajectory. <h2 dir="ltr">Bitcoin not ready?</h2> Bitcoin appears to be stalling as it approaches the much-awaited $100,000 milestone. The cryptocurrency seems to be consolidating below $98,000 after a notable rally in recent weeks, which begs the question of whether the bullish momentum is waning or merely stalling for a larger market move. According to the chart analysis, Bitcoin is presently trading close to $96,000, which is just below the psychological resistance level of $100,000. A break above this level, which serves as a significant barrier, might start the subsequent surge of bullish momentum. As market sentiment cools and profit-taking quickens, a pullback is more likely the longer Bitcoin struggles to recover $100,000. The recent breakout zone and the 21 EMA are in line with $90,400, which is key support. Bitcoin may move toward the $80,400 support, which is in line with the 50 EMA and acts as a robust safety net for the current bullish trend if it breaks below this level, which could indicate additional bearish pressure. With a current Relative Strength Index of 71, the market is overbought. Although this is not necessarily a sign of bearishness, it does imply that the market may go through a period of consolidation or a brief correction before attempting to rise again. Strong buying pressure is necessary to break through the current resistance levels in order for Bitcoin to regain its upward momentum and move toward $100,000. Bulls may be able to reopen the path toward $100,000 and possibly $105,000 if they can push the price above $98,000 with significant trading volume.