Important information in the cryptocurrency circle within 24 hours:
1. Justin Sun denied the rumor of clearing out ETH, saying it was just a transfer between wallets, and reiterated his optimism about the Ethereum ecosystem.
2. Cryptocurrency concept stocks generally rose, Canaan Technology rose nearly 5%
3. The probability that the Federal Reserve will keep interest rates unchanged in January next year is 91.4%
4. US media: Some large US banks plan to sue the Federal Reserve over annual stress testing
5. Grayscale transferred a total of approximately 2,117 BTC to three addresses, worth more than $203 million
6. Crypto mining company HIVE Digital invests $30 million to deploy Nvidia chip cluster
7. Cryptocurrency tax supervision in the United States, Britain and Europe has been upgraded. Investors need to be alert to key tax rates and compliance requirements
With Donald Trump returning to the presidency and the likely appointment of Paul Atkins as the next SEC chairman, the cryptocurrency space is poised for more favorable treatment.
However, concerns remain, especially given Biden's previous pardon of his son, which raised questions about the future of regulation of the industry.
Mainstream coin analysis
🎄The U.S. stock market is closed today. The sharp rise in U.S. stocks last night drove Bitcoin to rebound. However, because U.S. stocks are not open today, Bitcoin lacks support and may fluctuate.
🎄The recent trend of Ethereum is similar to that of Bitcoin. Currently, Bitcoin and Ethereum are still below the trend line that they broke before. We cannot be blindly optimistic. From the weekly chart, there are still risks. If we want to really get out of the predicament, we still need to rely on the drive of the US stock market.
The recent market continues to fluctuate, and the on-chain data is slightly negative. ETF outflows are 84 million, but ETH is a net inflow, and BTC is now on its third day of continuous outflow...
One reason for the weak market is the Christmas cycle, when no institutions entered the market or traded. The second reason is that Coinbase has a negative premium again. Bitcoin has been at a low point and has been trending weakly. The negative premium of Coinbase shows that the sentiment in the U.S. investment market is not optimistic.
Bitcoin:
2024.12.25 Bitcoin (BTC) latest market analysis
The current price of Bitcoin is 98980, and it is 8 pm Beijing time.
Judging from the future trend, the global views on the trend of BTC are similar. I personally think that we don’t have to rush to follow this trend.
In this round, we have made several long orders including two orders near 94200 and 92200, so we can clearly see that it is currently operating in a relatively middle position.
The mainstream view is that after a brief pullback, BTC will continue to attack 100,000 US dollars, and then choose whether to peak and retreat in the short term near 103,000-104,000 depending on the strength. It will repeat several times in the middle, and finally make a downward correction. The strength must be strong enough to at least break through 92,000, and it is best to go to around 87,000-85,000 or even lower. Then the bottom is completed, the copycat fund absorption and washing are completed, and the bull market continues.
The daily market rebounded from a low to a high of 99,500. The U.S. stock market is closed today on Christmas Day and is expected to remain in a wide range of fluctuations.
At present, the four-hour chart is still under pressure from the 99000-100000 range. After touching the 92000 line, the bottom will rise. The short-term upper resistance is 99500-100500, and the short-term lower support is 97000-96000. The strong support is around 92800. It is better to operate in the range during the day.
Key pressure level 100000
Key support level 95600
Ethereum:
2024.12.25 Ethereum (ETH) evening latest market analysis reference
The current price of Ethereum is 3531, and it is 8 pm Beijing time.
Ethereum’s trend is clearly evident at the moment, with prices having returned to around 3,500 points, and is expected to consolidate there for a while.
Currently, the short-term support is around 3370-3420. The short-term pressure is 3580-3640. If it breaks through this consolidation area, it is expected to test the key position of 3800 points in the short term.
If it successfully breaks through and stabilizes at 3,800 points, it may open up more room for upward movement. At that time, not only Ethereum, but also the altcoin market will usher in an exciting performance.
Altcoins:
As Bitcoin falls, altcoins stop following
Currently, altcoins are generally performing better than Bitcoin, and Ethereum’s valuation against Bitcoin has rebounded by about 5%.
Altcoins are performing more strongly in the current market. Important indicators of the alt season: 75%, the top 50 cryptocurrencies have outperformed Bitcoin in the past 90 days, can we say that the alt season has arrived?
As the saying goes: everyone is doing well, that is the real good. Bitcoin has been rising for so long, it is time for altcoins to rise! You should also understand that when Bitcoin rises, all the stocks take off, and when Bitcoin falls, all the stocks fall. Cryptocurrency still has the final say. As for whether there is an altcoin season, it is a stage where bears and bulls are talking about each other, which is in sharp contrast.
Assuming there is really no alt season, then this year's leeks are too miserable; assuming there is an alt season, the price must have risen sharply, because many people have been thrown off the train. In fact, I would choose to continue holding if the market is better, but now all the coins have plummeted a lot, and AAVE is about to hit the previous high this year. I feel that the overall environment is a bit bad, and I want to wait for a retracement.
In fact, if the market conditions were better, I would choose to continue holding on. However, now all coins have plummeted a lot, and AAVE is about to hit this year’s high again. I feel that the overall environment is a bit bad, and I want to wait for a pullback.
Market Trends
BTC rebounded, altcoins rebounded. MicroStrategy plans to raise $42 billion in the next three years.
U.S. stocks rose as markets were closed all day on Wednesday in observance of Christmas Day.
Market hot spots:
1. The middleware pha has soared. Pha is the TEE solution provider of the Eliza framework. Recently, the popular aipool on the chain is a launch platform, and spore is an AI breeding and evolution sandbox. These projects are related to Pha.
2. Old coins such as Zen, BAT, ZEC, and LPT have risen sharply, and Grayscale has increased its holdings many times.
3. Meme's Pengu has soared, and L2 will be launched in the future. The NFT coin issuance route is similar to the previous round of APE.
4. The platform currency bgb soared, 5 times in one month, and its market value exceeded 10 billion US dollars.
5. On-chain AI's fartcaoin and ai16z surged, fluctuating widely at high levels. Virtual has an average of 2 airdrops per week, and sub-coins such as game and music surged.
I recommend a few promising sectors and arrange them according to the targets you are familiar with. If you don’t know much about the market, join the VIP group and follow my ideas.
⚡️Grayscale#ZEN#LPT
⚡️SEC sector#RSR#DYDX #ZRX
⚡️Trump Family#ONDO#ENA #LINK
⚡️Payment section#XRP#ALGO#XLM#HBAR #ADA
⚡️Musk is optimistic about #DGEO
The overall idea is to go long on the new US government and go long on low-market-cap, conceptual, fully circulated value coins.
