Happy Friday,
Markets saw further losses this week, but most sectors have reached their base support zones. Bitcoin has become stable around the $96k level, and Ethereum is seeing support at the $3400 level.
This week, as the global crypto market cap sees a 44% marketwide derivatives expiry, we expect the markets could become more bearish this coming weekend.
Crypto Market Outlook
● Bitcoin struggles near $96k price after being unable to cross $100k due to intense profit booking. However, institutional and retail accumulation has kept it at higher levels.
● Ethereum seems much more bearish this week after it crashed below $3400 and has since been unable to cross $3500. This could signal a further rally. Experts are still optimistic that it will cross $10k in 2025.
● XRP has emerged as the top candidate for a revival in January 2025. After refusing to go below $2.1 levels, it has seen the formation of a multi-year chart breakout that could take its price to $30.
● Memecoin markets continue to see major corrections. All major memecoins lost at least 5% of their value in the last 24 hours.
● Now that the panic caused by macroeconomic factors has settled, all eyes are now on the SEC to provide relief to the crypto markets.
● This Friday, 44% of the global crypto markets' derivative contracts will expire, which could send Bitcoin to $85k levels this weekend.
Crypto Market Cap: Movers and Shakers
The global crypto market cap has consolidated at $3.4 trillion after crashing to $3.31 trillion earlier this week.
Amid the market sell-off we saw Bitcoin showing resilience to this correction, and as a result, its market dominance has shot up to 56.8% as compared to Ethereum’s 12.2%.
The altcoin season index has dropped to 49, a level that greatly contrasts with its recent high of 87 earlier this month.
Market Sentiments
The Crypto Fear and Greed Index has slid to 54 from 62 last week and 85 last month. If the markets correct more, we could see this sink toward bearish territory this weekend.
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Market Watch
Solana Price Prediction 2025: ETF Approval Could Push SOL to $1000
● Short-term targets indicate Solana could hit $300 by mid-year 2025.
● By the end of 2025, Solana could hit $1000 if its ETF gets approved.
● In the long term, we assume Solana will break above $4000 based on strong fundamentals.
● However, SOL needs to diversify its dependence on memecoins rapidly.
Dogecoin Set for 12,000% Rally? Top Analyst Predicts a Parabolic Move as 2025 Looms
● Dogecoin has repeated a super chart pattern from 2017 and 2021.
● Analyst Ali Martinez drew parallels from all three charts and predicted that a super rally was in the making.
● DOGE has gained 440% in 2024 after the historic win by Donald Trump.
● The upcoming rally could put DOGE between$15 to $36.
● However, given the current fall in crypto markets, DOGE's super rally seems difficult now.
Where Is the Crypto Market Headed in 2025?
● After $100k, Bitcoin now looks at a target of $250k.
● Ethereum, too, might shed its undervaluation and reach $15k in 2025.
● Based on strong adoption in cross-border payments and RWA, XRP could see $5 targets arriving soon.
● Solana looks at $1000 as its next major achievement based on strong user activity and high network speeds.
● Chainlink might soon achieve a new ATh above $53.
● Experts see DOGE reaching $36 by the end of 2025 as historical charts repeat.
● Shiba Inu could also shed a zero and reach $0.0001 levels in 2025.
