Bitcoin remains stable above $96,000 today, and behind this stability is the caution traders are exercising regarding the upcoming significant events, such as Trump's inauguration on January 20. The funding rate for Bitcoin perpetual futures reached 0.01% in the latest 8-hour contract cycle, the highest in the past week, yet still within a 'neutral range.'
Currently, the downtrend appears to have halted, suggesting a slight rebound. However, data indicates that achieving significant upward movement in the short term may be challenging. Moreover, the market's liquidity is low over the weekend, leading to expectations that Bitcoin will fluctuate between $96,000 and $99,800. Although there is a slight increase, it is not substantial, and the trading volume does not keep pace, so it is advisable not to rush to declare that the bull market has returned.
A critical period of long and short game
In less than three weeks, Trump will return to the White House, and crypto investors may anticipate a wave of positive news. The long-short ratio for Bitcoin derivatives is above 1 at several major exchanges, indicating that the number of bullish contracts exceeds bearish ones, reflecting a generally bullish sentiment in the market. Ethereum shows a similar trend, with the long-short ratio also exceeding 1 at major exchanges, yet remains within a neutral range.
This stability reflects that market investors, while somewhat optimistic before key events (such as Trump's inauguration), remain cautious and have not yet made significant long positions. Coinciding with a liquidity drought over the weekend, the theme in the crypto market is expected to remain consolidation and correction in the short term, allowing for early positioning in anticipation of a market explosion!
Trump is set to take office on the 20th, and historically, there tends to be a rally before favorable news materializes. Notably, following this rally, a deeper decline often occurs, but after the decline, a more vigorous increase typically follows. Based on previous instances, such as the favorable news around the Bitcoin ETF launch, Trump's inauguration may lead to a similar market trend. Those who have not yet positioned themselves can start from today, buying on dips. A potential adjustment is likely from the 20th until the end of the month, with February and March likely showing a solid upward trend overall! This is the general market trend.
Layout the following 3 cryptocurrencies that are about to increase 10 times in the bull market!
1, SHIB
SHIB holds a significant position in the cryptocurrency market, often seen as a rival to Dogecoin. Initially launched as a meme coin, it has since evolved into a multifaceted project, including ShibaSwap, its decentralized exchange, and the Shiba Inu Rescue Association. SHIB is community-oriented, with its appeal stemming from its community engagement and liquidity potential.
Recently, Shiba Inu made headlines for adopting Chainlink's CCIP, a technology that enables secure cross-chain interoperability. This innovation allows users to purchase virtual land using ETH or SHIB on both Ethereum and ShibariumNet, potentially enhancing its metaverse ambitions. This development aligns with SHIB's efforts to surpass its meme coin status and increase its utility, positively impacting investor sentiment.
In the short term, SHIB has gently risen by 2.01% in the past 24 hours and 3% over the past week. However, it has fallen by 25.8% compared to last month, indicating some volatility. Its relative strength index (RSI) currently stands at 41.02, suggesting a neutral market position. Despite recent volatility, SHIB has relatively high liquidity, with a trading volume to market cap ratio of 0.0568. This positions it as a strong contender in the meme coin space with growth potential.
Shiba Inu offers a unique opportunity for investors as it blends community involvement, cutting-edge innovation, and solid market performance. Despite being influenced by volatility, its evolving ecosystem and strong community support make it a promising choice for those willing to take on some risk.
2, JUP
Jupiter (JUP) is an interesting wildcard for 2025. Jupiter focuses on secure and scalable blockchain solutions, with a particular emphasis on data protection and privacy. Its unique decentralized application (dApp) approach has garnered attention in industries such as healthcare and finance.
Given that Solana's current market cap is $1.2 billion, with the growing demand for privacy and scalability, JUP's secure blockchain solutions could capture a significant market share. This positions Jupiter as one of the most undervalued options and is expected to see exponential growth in the coming years.
3, ICP
Many altcoins have risen with Bitcoin's recent bull market trend, and the Internet Computer (ICP) has become a standout. In the past 24 hours, ICP's price has surged over 10%. Currently, the token's trading price is $12.23, attracting the interest of traders and investors.
ICP demonstrates resilience, finding support around $10. After breaking out of its descending wedge pattern, this support level has become crucial for its recent rebound. Analysts indicate that if ICP can overcome the direct resistance level of $11.95, it may pave the way for further upward movement. Potential targets include $13.75, $15.50, and $18.80, indicating the token has good upward potential.
More positively, the Swiss organization behind the Internet Computer, the DFINITY Foundation, released its 2024 ecosystem report in November. This report highlighted significant advancements in cross-chain technology on the platform, primarily through the Chain Fusion protocol. Over the past year, activity on Chain Fusion surged by an astonishing 1,230%.
The Chain Fusion protocol is a key feature of the Internet Computer blockchain, enabling seamless interaction between smart contracts and multiple blockchain networks. This feature has gained favor among developers, with the message processing volume within the protocol increasing significantly by 2,040% compared to the previous year. This surge reflects the growing demand for cross-chain solutions, supporting the development of complex multi-chain applications.