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#STEEM 1D... The volumes formed in the past 7 days are very remarkable. I am watching in 4h and 1h time frames. I can evaluate if a formation occurs... With stop! (Not investment advice)
#Ethereum NFT volume increased by 67% to $186 million with the launch of the $PENGU token. Pudgy Penguins led with $108 million in volume. Ethereum maintains its leadership in the #NFT market.
Will the decline in Bitcoin (BTC) get even steeper?
#Bitcoin (BTC), the world's most valuable cryptocurrency in terms of market value, has lost 15 percent of its value since it touched its all-time high (ATH) of $108,000. While BTC's downward movement has confused the market, some analysts have signaled that the decline could get even steeper.
The bearish signal that the analyst points to is the rising dominance of the largest stablecoin #Tether (USDT) in the market. In fact, the USDT.D metric, which measures Tether's dominance in the market, has shown a recovery trend compared to previous months. The TradingView analyst stated that traders are moving their capital to $USDT due to the high volatility and downward expectations in the market.
TradingView analyst ForexX Mindset predicted that this picture could bring a decline to #Bitcoin and said that a fill-and-empty tactic will be followed.
âThere will probably be a sharp rise in price, which will convince people to think that the market will go up even more,â the analyst said, adding:
âBut donât believe it. This is a trap. The rise will be followed by a big drop, and those who fall into the trap will lose what they have.â
Another analyst who expects a short-term decline in Bitcoin stated that there could be âsome strange price movementsâ in the few weeks before the âaltcoin season.â Addressing his 236 thousand followers on the X (formerly Twitter) platform, Altcoin Sherpa shared a chart showing the 90 thousand and 87 thousand price levels on the BTC price chart and said:
âI would definitely not be surprised if $BTC makes such a move. There could be some strange price movements in the few weeks before the altcoin season and the journey to the moon in price. I still expect an increase.â
Altcoin Sherpa said that Bitcoin's monthly price performance does not look great but it is not the worst either, adding, "There is a neutral picture and this may last a few more days."
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Fasten your seat belts: âBitcoin will recover to $105,000â Despite the recent major declines, crypto analysts predict that the #Bitcoin ($BTC ) price will return to $105,000. The crypto market experienced major declines on December 9 and December 19. The leading crypto, BTC, lost a lot of blood during these declines. Positive signals have begun to come for BTC, which could not hold on to $100,000. Analysts believe that $BTC could not attract liquidity due to the Christmas holiday, but will continue to rise in the coming days. According to analysts, the #BTC price will rise to $105,000 after the holiday. The Fed's interest rate policy and Donald Trump assuming the presidency on January 20 are among the factors shaping the upward expectations. Analysts believe that the Bitcoin (BTC) price will recover in the coming days. According to Cointelegraph Markets Pro data, the BTC price has been trading below the $100,000 psychological threshold since December 19. BTC reached an all-time high of $108,300 on December 17. Bitget Research chief analyst Ryan Lee stated that institutional players will return after the Christmas holiday and liquidity will increase. Lee predicted that BTC will make another correction after the holiday and then the price will reach $105,000. The famous analyst used the following statements in his statement to Cointelegraph: âAfter Christmas, markets typically revive and funds are expected to take active positions in sectors that will be positively affected by Trumpâs presidency. The expected trading range for BTC this week is $94,000 to $105,000.â Despite BTCâs six-figure price estimates, money outflows have begun in spot Bitcoin ETFs traded in the US. According to Farside data, #Bitcoin ETFs recorded net outflows of over $338 million on December 24. Crypto analyst Rekt Capital stated in an analysis published on December 24 that the price correction in Bitcoin could be prolonged.
#Chainlink ($LINK ), one of the most popular altcoins of recent times, has fallen due to increasing selling pressure. Oracle project Chainlink, which expanded in the Web3 field, made a sensational rise in November. $LINK grew by 65 percent on the date in question. LINK, which fell in December with increased profit sales, opened the curtain to various speculations. AMBCrypto reported that Chainlink was pressured by suspicious whale transactions and LINK was stuck at a significant resistance level. The analysis reported that the price was approaching a potential breakout. According to the analysis prepared by AMBCrypto, Chainlink (LINK) gave positive signals in on-chain measurements. The analysis stated that whales were hungry and there was an outflow of supply from exchanges. The following statements were included in the analysis: âDecreasing LINK reserves and increasing transactions increased the probability of an increase.â According to on-chain data, 30 newly created wallets withdrew 1.37 million LINK worth $34.1 million from #Binance in just five days. During this accumulation, there was a 4 percent increase in the LINK price. Lookonchain, which brought to light the accumulation made by whales through new wallets, drew attention to the increasing demand. AMBCrypto evaluated the whale activity as follows: âThis type of whale activity usually leads to a potential breakout. Large wallets are preparing for LINKâs next big move.â Stating that the LINK price is preparing for an increase, AMBCrypto touched on potential resistance points in its graphic analysis. The analysis emphasized that LINK is struggling with a critical resistance at $26.14, and if this resistance is not overcome, the price may retreat to the $22.04 support. The analysis included the following statements: âThe chart showed that buy orders were accumulating near the support and could trigger an uptrend if momentum builds.â According to the analysis, if the price breaks above $26.14, it could touch $30.
Shiba Inu (SHIB) critical development: How does it affect the price? Shibarium, the layer-2 solution for Shiba Inu (SHIB), reached a significant milestone on Christmas. Shibarium achieved a remarkable achievement by surpassing 700 million transactions in total. This refers to the total number of transactions processed through the protocol. According to Shibariumscan data, the total number of transactions recorded in the protocol is currently reported as 702,299,255. Shibarium's average daily transaction count is around 4.51 million. These figures are carried out by 2,021,932 wallet addresses active on the blockchain. #Shibarium , which was officially launched in August 2023, has achieved this transaction volume in a short period of 18 months, indicating strong participation and adoption by the community. Other notable developments for Shibarium include the launch of a new user interface that increases compatibility with leading wallets like Coinbase Wallet, Trust Wallet, and MetaMask. Shibariumâs key goals include reducing transaction costs, increasing scalability, and making speed improvements. These goals may have contributed significantly to the recent increase in transaction volume. Shibarium also received an update that allows developers to process blocks faster. Shibariumâs 700 million transaction milestone coincides with a surge in the price of Shiba Inu. Currently, SHIB is trading at $0.00002305, up 3.52% in the last 24 hours. The price increase was supported by the burning of over seven million SHIB tokens. According to Shibburn data, a total of 7,309,654 SHIB tokens were burned in the last 24 hours. Analysts are expecting a new rally in the popular #memecoin if $SHIB maintains its current momentum.
Crypto commentator Oscar Ramos made statements that will excite $XRP investors. XRP, which dazzled with its performance in November, has started to weaken in recent days. Increasing selling pressure caused the $XRP price to lose nearly 20 percent of its value. The popular altcoin made investors nervous, especially with the 10 percent drop it made on December 20. Crypto analysts think that XRP will continue to rise despite the climate of fear. Crypto commentator Ramos said that #XRP owners can become rich. The expert commentator touched on a catalyst that will allow #XRP to rise again. XRP increased by 283 percent after Donald Trump won the US presidential election on November 5. The altcoin, which achieved its highest monthly close in the last seven years, performed weakly in December. According to TheCryptoBasic, XRP continued its potential rally until December. The popular altcoin reached $2.9, its highest level in the last seven years, on December 5. The altcoin, which was affected by the declines under the name of correction, consolidated around $2. Market commentator Ramos thinks that the consolidation phase in XRP is temporary and the price will continue to rise. According to Ramos, $XRP owners will be rich. Ramos sees the current decline as an opportunity to accumulate more coins before the next potential breakout. Ramos, who shared a video, reminded that market activities were stagnant during the Christmas period. Ramos, who suggested that investors should evaluate these opportunities, suggested that price volatility will begin soon. Ramos thinks that XRP should be opened to institutional investors in the US in order to realize its potential rally. According to the market expert, the launch of spot ETFs will positively affect the price of XRP. Ramos also predicts that the #RLUSD stablecoin will contribute to the rise of XRP.
Cardano (ADA) danger signal: Whale activity has decreased.
#Cardano ($ADA ), which fell below $ 1 with the pullback in the market, saw a decrease in whale activity. Cardano (ADA) is trying to recover after the sharp decline it experienced in recent days. Cardano's daily active addresses (DAA) metric indicates that the number of users on the network is decreasing and the selling pressure on the token is increasing. While ADA's transaction volume remains stagnant, the decrease in the number of active users on the network signals that a new decline may be coming. Cardano's macro momentum indicators are also giving bearish signals. In particular, there was an unexpected decrease in large investors (transactions over $ 100,000). The fact that whales are moving away from Cardano stands out as another factor that could trigger a price decline. In addition, the fact that ETH has not yet regained its strength and Bitcoin dominance is at high levels is suppressing the #ADA price. The decline of #Bitcoin dominance, $ETH exceeding $4,000 or positive news from the Cardano ecosystem will push the price up. In such a scenario, it is highly likely that the $1 band will be exceeded again. Daily closings above $1 could push the price to $1.5. Surprising price prediction from a crypto analyst Although macro data for Cardano signals a decline, some analysts seem hopeful. Crypto analyst Javon expressed his ADA price targets in a post on X (formerly Twitter). Javon, who predicts a 180 percent increase from the current level, estimates that ADA could first reach $2.77. Later, the analyst, who thinks that the price could reach $7.80, surprised ADA investors.
Ethereum will strengthen against Bitcoin! ETH, which has increased by 5 percent in the last 24 hours, has started to give positive signals for altcoins. Bitcoinâs horizontal course did not go unnoticed during this process. Ethereum, which has gained value compared to Bitcoin for a few days, may start an altcoin rally if it can continue this trend. While #Ethereum is priced at $3350, it is stated that 3.34 million addresses hold a total of 3.18 million $ETH and are in profit. According to current data, ETHâs main resistance is at $3,508. It is stated that 3.90 million addresses have purchased 1.62 million ETH at this point. If the buying pressure increases, it seems possible for ETH to overcome this resistance and approach $4,000. The $4,000 level, which is a critical resistance both technically and psychologically, will affect the short/medium term price movements of altcoins. Michael van de Poppe, who is famous for his cryptocurrency analysis, made altcoin investors happy with his $ETH comment on December 24. The analyst, who thinks that the ETH/BTC parity will exceed 0.04 in January, has a very positive view on Ethereum. According to Poppe, ETH will strengthen during this process and outflows from BTC will increase. In short, ETH will start to gain value against BTC. As a result, sharp increases can be observed in altcoins. Especially, more severe increases can be experienced in cryptocurrencies in the Ethereum ecosystem.
Famous analyst spoke: âI am ready for the Christmas rally for Bitcoin!â
Mister Crypto, known for his cryptocurrency analyses, made promising comments for Bitcoin, which continues its downward trend. The leading cryptocurrency fell to $92,442 on December 23, seeing its lowest price since the end of November. #Bitcoin lost 14.5 percent of its value from its peak of $108,000 on December 17. Bitcoin, which briefly recovered and retested the $95,000 level, fell to $94,000 on the morning of December 24, but analysts continue to have a positive view. $BTC , which has been pricing in a downward direction since seeing $108,000, has upset crypto investors quite a bit. However, the annual closing and the approach of Christmas have increased hopes. Mister Crypto, a crypto analyst with 119,000 followers on X (formerly Twitter), shared a post saying, âIâm ready for a Christmas rally in Bitcoin!â Based on the price movements in 2016 and 2020, the analyst stated that he expects a big rise in BTC. As of the writing of the news, BTC, which is trading at $93,800, will increase these expectations if it breaks above $100,000. According to a study published by CoinGecko on December 13, crypto markets experienced rallies in 8 out of 10 periods following the Christmas holiday from 2014 to 2023. During these rallies, the total crypto market value increased by 0.7 percent to 11.8 percent from December 27 to January 2. However, there was no Santa Claus rally after the 2021 cycle peak. Bitcoin lost 26% of its value from its peak of $69,000 that year to Christmas Day and has continued its downtrend throughout 2022.