According to Deep Tide TechFlow news on January 8, the latest Dispatch report from Nexo discusses the recent cryptocurrency market.
Bitcoin: Bitcoin reaching $100,000 could become a key support zone. The inflow of $2 billion into spot ETFs at the beginning of January further solidified this support level. Historical trends suggest that Bitcoin may rise further in January, as it has previously surged by 20-30% during this period. The report also notes that institutional investors like MicroStrategy will continue to increase their Bitcoin holdings.
Ethereum: With the increasing number of long-term holders (currently accounting for over 75% of investors) and strong inflows into spot ETFs, combined with high leverage in the futures market, there is optimism about the asset's growth in 2025. Ethereum is also expected to achieve growth.
Solana: At the beginning of 2025, it faces potential resistance due to a surge in market activity, and its development trajectory remains uncertain. Although technical indicators show bullish momentum, a sell-off may occur.
Meanwhile, the broader cryptocurrency market is facing volatility due to the unlocking of billions of dollars in tokens this month. It is expected that the daily release of assets like Solana and Dogecoin (DOGE) will impact short-term price trends.
The report highlights that some macroeconomic factors, such as U.S. labor market statistics, are important influences on cryptocurrency demand, especially for Bitcoin.
