Bitcoin saw a surge in volatility ahead of December options expiration, but the rally proved short-lived. BTC is currently trading at $95,000, having failed to hold the $97,730 mark.
Nevertheless, analysts remain optimistic. A breakout of the $98,000 resistance could be the catalyst for a new surge that would return Bitcoin to the $100,000 mark. This could be accompanied by large-scale liquidations of shorts worth $885 million, which would add momentum to the market.
Another positive sign is the $475 million inflow of capital into the Bitcoin ETF. This indicates that investors are returning to the market, possibly expecting an improvement in sentiment.
Forecasts for January promise further strengthening of Bitcoin, which may reach $110,000. Thus, despite recent fluctuations, the market retains potential for growth, and investors continue to monitor key resistance levels.
🔹 Galaxy specialists have predicted Bitcoin at $185,000.
🔹 Volatility Shares has filed for the launch of a futures Solana-ETF.
🔹 Technical analyst Chandler Bing expects a sevenfold increase in Dogecoin (DOGE) in the long term — to a range of $2.35-2.6, calling this a "conservative scenario."
🔹 Citi: "Stablecoins and ETFs will contribute to the growth of cryptocurrencies in 2025."
🔹 The Minister of Justice of Montenegro has approved the extradition of Do Kwon to the USA.
🔹 The price of Bitcoin remains stable despite the expiration of the last option this year, which threatened significant decline below $85,000.
🙋♂👀 Berkshire Hathaway, Buffett's company, increased its stake in the internet infrastructure service provider VeriSign, which holds a patent for blockchain domain name registration technology.
🇪🇺👀 #USDT CEO Tether retweeted several tweets stating that USDT will not be considered illegal in Europe. Meanwhile, no exchange plans to delist USDT for European users in the short term, except for Coinbase, which is an investor in Circle.
Bitcoin Will Jump to $1 Million with Significant Increase in Inflation - Arthur Hayes
BitMEX co-founder Arthur Hayes said that Bitcoin could reach $1 million in the coming years. He linked this to the expected surge in money printing by world governments.
Hayes believes that the desire to maintain economic growth will force governments to actively print money. This, in turn, will lead to the devaluation of fiat currencies and the growth of the cost of crypto assets. According to him, such a process will give additional impetus to global changes in the financial system.
📊 Pantera founder predicts that August 2025 should be the peak of this cycle. He agrees with the expectation that "2025 will be a bull market and then the fall will start in 2026."
According to him, it is quite reasonable that BTC will grow tenfold in the next 5-10 years.
The use of clean energy for Bitcoin now exceeds 50%. Previously, Elon Musk stated that Tesla would resume accepting Bitcoin payments when the use of clean energy surpassed 50%. However, Musk has not yet commented on this issue.
📝The DeFi Education Fund has filed a lawsuit against the IRS just 24 hours after the IRS decided to impose taxes on DeFi and DEX.
🇺🇸CryptoQuant CEO Ki Young Ju said that Donald Trump's crypto policy will depend on the perceived strength of the US economy and the dollar on the global stage.
🗣The head of VanEck said: "My main premise is that the value of BTC will be half the value of all the gold ever mined. So we expect something like $300,000 for BTC."
MEDIA: Ethiopia invested $1 billion in the bitcoin mining sector in 2024
Ethiopia is actively utilizing hydroelectric resources, including the Grand Ethiopian Renaissance Dam, to increase mining capacities, writes The Africa Report.
The largest electricity producer in the country — Ethiopian Electric Power — generates 18% of the company's revenue from this sector, surpassing profits from electricity exports to neighboring countries.
Over the past year, the country has invested more than $1 billion in cryptocurrency mining. The government has signed agreements with 25 enterprises, which allowed for the rapid attraction of tens of millions of dollars in revenue.
By analyzing the picture of drawdowns from peak values over the last 3 years, we can draw the following conclusions:
1) This is open interest on futures. During the current correction, it has decreased by 17.5% from a recent peak. In the bull market of 2021, this was a standard level of correction (maximum dropped to -21%), after which the trend continued.
2) And this is options. Yesterday saw the largest expiration in history, resulting in OI dropping by as much as 44%. Note that for almost 2 years, the drawdown level of 45% (red line) represented the strongest options support.
—
⚠️ Both metrics show a drop from the last ATH, so there is not much sense in looking at the bear market of 2022, as it is logical that open interest in a bear market is always lower than in bull markets, and even an increase in OI during this period will also be considered a drawdown (just a smaller one) from the peaks of the recent bull market.
Today’s news is that the U.S. Internal Revenue Service (IRS) has issued final rules requiring brokers to report transactions involving digital assets, expanding existing reporting requirements to include interface platforms such as decentralized exchanges. The IRS classifies DeFi protocols as brokers. The crypto market reacted negatively to the IRS decision and called on Congress to block the new rules for DeFi brokers.
🪙Galaxy Digital predicts that the U.S. government will not buy Bitcoin in 2025 but will maintain its existing holdings.
🪙VolatilityShares has applied for a futures ETF for Solana. According to Citi Bank, the adoption of stablecoins and cryptocurrency ETFs will contribute to the growth of efficiency in digital assets in 2025.
⚡️Robert Kiyosaki predicts that by 2025, the price of Bitcoin will reach $350,000, urging for self-custody of funds instead of ETFs.
📊 CQ: reserves of #USDT and #USDC on Binance reached $29 billion. This significant accumulation of stablecoins highlights Binance's key role in providing liquidity and market stability during a bull market phase.
📊 Santiment: -64% less trading in the last week compared to the previous week. The last week of December is often one of the least active periods of the year. If whales continue to show their strong accumulation tendency, the lack of retail participation could lead to at least one final big surprise pump of 2024.