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Bitcoin has left the worst behind. The leading crypto Bitcoin (BTC) has seen its first major weekly decline since Donald Trump won the US presidential election. BTC, which has been on a major rally under Trump’s influence, has been hit by negative news flows in the past week after breaking records one after another. After reaching an all-time high of $108,135 on December 17, the BTC price has lost about 11 percent of its value. According to TradingView data, BTC closed the week ending December 22 at $94,645. The starting value of the week in question was $105,185. The $10,500 drop has caused concern in the crypto market. The biggest weekly decline was due to the Fed’s hawkish stance and speculations about Bitcoin reserves. The Federal Reserve's (Fed) Federal Open Market Committee has signaled that it will be cautious next year, despite making its third consecutive interest rate cut. The Fed has reduced the number of interest rate cuts it is planning for next year from five to two. According to experts, the Fed's interest rates may be kept around 3.9 percent in 2025, as opposed to 3.4 percent. This could have a negative impact on risky assets like BTC. #Bitcoin ($BTC ) has ended six of the seven weekly closes since Trump won the election with increases. The only negative weekly close in question occurred in the week ending November 24. BTC fell 0.78 percent to $97,280 on November 24. BTC, which closed its weekly decline for the first time since November 24, has caused crypto investors to be nervous. Despite BTC's recent performance, asset management companies predict that the rally will continue in 2025. According to these companies, BTC could rise to between $180,000 and $200,000 next year. This rise could be supported by the US’s strategic Bitcoin reserve. The Trump administration has chosen hedge fund manager Scott Bessent and Cantor Fitzgerald CEO Howard Lutnik to head the Treasury and Commerce departments. Cointelegraph noted that the new administration has the most pro-crypto executives to date.
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Bitcoin's recovery trend: These 5 altcoins stepped on the gas. Bitcoin, which rose above $95,000 with the reaction it received from $93,700, revived the altcoin market. #Bitcoin , which has been in a downward trend for the last two weeks, has started to give positive signals. The leader of cryptocurrencies, which fell to $93,700 in the morning hours, later rose to $96,500. $BTC is changing hands at $95,300 as of the writing of the news 1- Algorand (ALGO) $ALGO , which has frequently been mentioned in the 2021 bull, has increased by 13 percent in the last 24 hours. #ALGO , which is traded at $0.35 as of the writing of the news, can target $0.50 as long as it continues in the uptrend. 2- Aave (AAVE) $AAVE , the popular name of DeFi projects, has increased by 11 percent in the last 24 hours. #AAVE , which has stood firm in the declines, has given positive signals for the upcoming bull season. The resistance level to watch out for in the short term for the pair will be $350. 3- Curve DAO (CRV) #CRV , which has shown a 10 percent performance in the last 24 hours, managed to maintain its upward trend. The popular altcoin, which is priced at $0.85, may target the $1 band if it maintains this level. 4- FTX Token (FTT) #FTT , the native token of the bankrupt crypto exchange FTX, has made an unexpected rise. FTT, which has increased by 8 percent in the last 24 hours, has moved into fourth place on the list. Rumors that FTX will reopen will further mobilize the price. 5- Hedera (HBAR) HBAR, which has caught an upward trend with spot ETF claims, has shown a 6 percent performance in the last 24 hours. In a scenario where the claims are true, sharp increases can be observed for HBAR.
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Solana (SOL) demand has decreased: Price may be suppressed! Solana’s ($SOL ) total locked value (TVL) has fallen to its lowest level this month. Since the beginning of December, over $1 billion worth of value has been withdrawn from Solana’s DeFi ecosystem. This sharp decline in TVL is due to the decrease in daily active addresses on the network. The bearish trend of the market and the fall of the memecoin trend have dealt a blow to the Solana network. According to DeFiLlama data, Solana’s total locked value (TVL) currently stands at $8.01 billion. According to current data, $1.1 billion has exited the ecosystem, a 12 percent decrease since December 1. The network’s leading #DeFi protocol, Jito, was particularly affected by this decline, recording a 28 percent decrease in TVL compared to last month. When looking at SOL’s daily chart, the negative Chaikin Money Flow (CMF) data confirming the decrease in demand is striking. As of writing, this indicator is at -0.04. CMF measures the accumulation or distribution of an asset in a certain period and combines price and volume data. A negative value of CMF indicates that there is more distribution (selling pressure) in the market than accumulation (buying pressure). This indicates that the price decline will continue. If the selling pressure continues for SOL, the price could fall to $168.83. However, factors such as the market turning upwards or the memecoin trend starting again will push the price up. In such a scenario, the $200 band can be targeted.
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Elon Musk responded to rumors that FTX founder Sam Bankman-Fried (SBF) will be pardoned by President Biden: "I would be shocked if that doesn't happen." On the other hand, according to Polymarket data, Biden's probability of pardoning SBF is only around 5%.
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🧙♂️According to the data, the tokens added to Binance Alpha that experienced the greatest increase were generally those with a low market capitalization. (E.g., #Shoggoth #FROG #BOB #TERMINUS #GNON ) $BTC $ETH $BNB
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