After a tough week, the market is roaring back! Trading volumes have nearly doubled, showing strong engagement and investor interest.
BTC is leading the charge, climbing to $98,000 after briefly touching $91,000 yesterday. Major altcoins like Ethereum, Ripple and Solana also see gains.
All top 100 cryptos are in the green today - a full reversal from yesterday's red market. $ENA leads with 35% gains
Memecoins are coming back! $DOGE , $SHIB, and $WIF posted 18% gains, while $PEPE spiked 23%! $PENGU outshined with over 30% jump..
Bitcoin [BTC] crossed a major milestone of $100k in the recent past. But as the market trend changed, the king coin fell.
At press time, BTC was struggling to breach the $98k barrier. But considering its market capitalization, the coin’s 2025 prospect looks optimistic.
Bitcoin’s future potential CoinMarketCap’s data revealed that BTC’s price dropped by more than 3% in the last 24 hours. At the time of writing, the coin was trading at $97,974.93 with a market capitalization of over $1.93 trillion.
However, despite the bearish market condition, investors’ shouldn’t underestimate the king coin, as it has huge potential going forward.
The Bitcoin Rainbow Chart revealed that the coin was in the accumulation zone. This clearly meant that investors should consider buying the coin, as the chances of the coin’s price booming are high.
For reference, when BTC’s rainbow chart showed a similar reading back in 2020, the coin was valued at $19k. But months later, BTC rallied to over $60k.
In fact, other data sets also suggested a similar price rise in the coming days. For instance, as per the Pi Cycle top Indicator, BTC’s possible market top is at $130k, which seems achievable if market conditions support BTC.
In case the coin goes above that level, then it won’t be too ambitious to expect BTC to double its price in 2025.
AMBCrypto reported earlier that BTC was following a historical trend. If history repeats itself, then BTC might as well touch $220k in the coming year.
However, it should also be noted that the chances of BTC reaching that level will only be possible if enough buying activity happens, supplemented by positive market sentiment around the coin. $BTC
Its been a rude awakening for Bitcoin $BTC holders this week as the cryptocurrency has been in freefall. The coin dropped from $108,364 on Tuesday, 17th December, to $95,537 on Thursday, its biggest successive pullback since August.
U.S Federal Reserve Chairman Jerome Powell may have reignited the bearish activity through his recent comment. However, the situation was further exasperated by claims that there will only be two rate cuts in 2025.
While sellers took advantage
While sellers took advantage of the information, the downward pressure may have created more FUD. As a result, bullish sentiments were further eroded. Especially considering that the holidays are here and investors are likely to make withdrawals for holiday spending.
But despite the declining sentiment as indicated by the Fear and Greed index, there are those that still hold on to bullish optimism. Among them is Ark Invest CEO Cathy Wood who still believes in Bitcoin’s ability to rally to $1 million per coin.$BTC
It looks like you're looking for future trading signals for BNB. Based on current market trends, here are some insights to consider:
Current Market Analysis BNB has recently broken through the $600 resistance level, reaching $604.8 with a 1.34% increase ¹. This bullish surge was predicted due to the breakout from an ascending triangle pattern.
Trading Signals and Targets Your sell targets for BNB are 678, 674, 670, and 660, with a stop loss at 690. Keep in mind that market conditions can change rapidly, and it's essential to stay updated on the latest trends and analysis.
Key Support and Resistance Levels Watch for possible retests at the $580-$590 range, which could provide solid buy-in opportunities ¹. Additionally, a push toward the $620 resistance level could be on the horizon.
Conclusion While your targets seem aggressive, it's crucial to stay adaptable and adjust your strategy according to market fluctuations. Keep a close eye on BNB's performance and be prepared to adjust your targets or stop loss as needed.