Price Analysis December 30: SPX, DXY, BTC, ETH, XRP, BNB, SOL, DOGE, ADA, AVAX
Bitcoin needs to find support in the $90,000 to $85,000 range for altcoins to recover and find new buyers.
Price Analysis December 30: SPX, DXY, BTC, ETH, XRP, BNB, SOL, DOGE, ADA, AVAX
PRICE ANALYSIS
Bitcoin
tickers down
€90,711
has started the final week of the year on a soft note, indicating that bulls are in no hurry to buy the dip. Analysts are divided on Bitcoin's near-term price action. Some expect a strong rally ahead of US President-elect Donald Trump’s inauguration in January, while others anticipate a rise in volatility. Arthur Hayes, co-founder of BitMEX, expressed a contrary view in his blog post on December 17, where he stated that markets are likely to experience a “terrible crash” around the day of Trump’s inauguration.
While short-term traders may be waiting for the uncertainty to dissipate before buying, MicroStrategy has continued its Bitcoin buying streak for the eighth consecutive week. The business intelligence firm announced the purchase of 2,138 Bitcoin between December 23 and December 29 at an average price of approximately $97,837.
Bitcoin’s historical performance in January has been mixed, with an average increase of just 3.35%, according to data from CoinGlass data. However, one positive sign is that over the past five years, Bitcoin has only closed January in the red once, in 2022, when it fell by 16.68%.
What are the crucial support levels to watch in Bitcoin and altcoins? Let's analyze the charts to find out.
