Coin overview
ATH
Ended--
Last price (USDT)
301.74K
24h total (USDT)
1.14M
Total vol (USDT)
2024-06-05 08:00:00 ~ 2024-06-12 09:30:00
Trading time (UTC+0)
2024-06-13 04:00:00
Delivery time (UTC+0)
Total supply41.99B
Resources
Introduction
Aethir is the only Enterprise-grade AI-focused GPU-as-a-service provider in the market. It’s a decentralized cloud computing infrastructure that allows GPU providers (containers) to meet Enterprise clients who need powerful H100’s chips for professional AI/ML tasks. Aethir also support cloud gaming clients with their virtual computing phones and GPU's with contracts with the world’s largest telecommunication company. Everything within Aethir ecosystem will be decentralized and community-owned.
XRP on Track for a New ATH? 3 Events That Could Drive the Price Higher
XRP’s price has recently dropped, but it may recover due to a stablecoin launch, possible ETF approvals, and a positive SEC case resolution. The RLUSD stablecoin could increase institutional involvement and strengthen XRP’s utility and appeal. XRP has faced significant price challenges in recent weeks, experiencing a 3% decline to $2.33. However, several factors suggest the potential for recovery and growth in the coming months. Ripple’s RLUSD Stablecoin Approval Ripple’s USD stablecoin, RLUSD, has been approved by the New York State Department of Financial Services (NYDFS). Recently, Ripple CEO Brad Garlinghouse confirmed the news but did not unveil the exact time of the launch. Through institutional payments and cross-border transactions, RLUSD will enhance Ripple’s ecosystem. Analysts believe that RLUSD will enhance the role of XRP as a bridge currency and maybe attract institutional investors. The addition of the stablecoin into Ripple’s structure may increase demand and strengthen the position of XRP in the payment industry. Interest in XRP-Backed ETFs There is increasing focus on the possibility of the launch of XRP-based ETFs . Some of the major asset management companies such as WisdomTree, 21Shares, and Bitwise have applied with the U.S. Securities and Exchange Commission (SEC). There are also speculations that even big players like BlackRock may join the bidding process. The approval of an XRP ETF will thus open a bridge for institutional and retail investors to invest in the asset. Similar to Bitcoin ETFs, which have already garnered billions of dollars in investments, an XRP ETF could greatly expand the liquidity and usage of the asset. Analysts believe that such an outcome will lead to a significant increase in capital inflows and only contribute to the growth of XRP. Additionally, the legal battle between Ripple and the SEC continues to be a major influence on the XRP price. There is a possibility of a shift towards resolution, and this may be tied to the change of guard in the US as well as the expected departure of the SEC Chairman Gary Gensler. A favourable outcome might help determine whether or not XRP is a security and hence provide direction. This clarity is expected to increase investors’ confidence and encourage institutions to get involved, giving a strong background for price increases. Analyst Predicts Strong Growth Popular crypto analyst Steph has noted that XRP could go as high as $35 in the near future, with a target of 2025. In his view, the recent price rise on the monthly chart shows that XRP is bullish. He pointed out a 30% price increase and the successful break out of a key resistance level as evidence of strength. https://twitter.com/Steph_iscrypto/status/1866929948851614099 According to Steph, XRP may increase by more than 1300% from its current value. He also urges investors to pay attention to price changes and take profits as prices rise. Steph also pointed out that XRP was moving upwards against BTC, which had been declining since 2018. Since November, the price of XRP has appreciated against BTC, and the recent price action has been trading in a bullish flag pattern. With this, in case of a breakout through key resistance levels, XRP may outperform Bitcoin by as much as 78% and attract more investors.
Bitcoin Hit a New ATH Above $107K, as BTC ETFs Recorded 13 Consecutive Inflow Days
Key Points Yesterday, Bitcoin reached a new ATH above $107,000, as BTC ETF cumulative flows topped $36 billion. Besides MicroStrategy’s latest $1.5 billion BTC purchase, Riot and Semler Scientific also bought more BTC. On December 16, Bitcoin reached a new ATH above $107,000, fueled by multiple factors, including new flows into the US BTC ETFs, increased global adoption, and institutional interest, amidst an optimistic market. Bitcoin ETFs Surpass $36 Billion in Cumulative Flows Yesterday, Bitcoin ETFs recorded their 13th consecutive day of inflows at almost $637 million. Since November 27, the crypto products reached almost $6 billion in inflows, according to data from SoSoValue . SoSoValue As of December 16, BTC ETFs surpassed $120.7 billion in total net assets locked and topped $36.2 billion in cumulative flows since their launch in January. These impressive numbers mirror increased institutional interest in BTC and related products. Yesterday, we revealed that MicroStrategy continued its BTC buying strategy with its latest acquisition of $1.5 billion in BTC, raising its total holdings to 439,000 BTC worth almost $47 billion at current prices. Apart from MicroStrategy, other important companies continue to buy BTC. Semler Scientific and Riot Platforms Acquire More BTC Yesterday, Eric Semler, Semler Scientific’s chair, announced that the company had bought 211 BTC for $21.5 million at $101,890 per coin. As of December 15, the company held 2,084 BTC acquired for $168.6 million at $80,916 per coin. Eric Semler via X Semler Scientific is a company that provides medical technology and software enabling testing for early chronic disease detection. It adopted a Bitcoin Treasury in May 2024, recording a BTC yield of 67% QTD and of almost 93% since adopting their BTC treasury strategy, according to the company’s chair. Riot Platforms Bitcoin mining company also announced acquiring more BTC yesterday. In a post via X, the team noted that with the additional proceeds from its latest $594 million offering, it bought 667 BTC at an average price of $101,135 per coin. Riot increased its holdings to 17,429 BTC valued at $1.8 billion at the time the X post was made on December 16. Via its acquisition and mining production YTD, Riot generated a BTC Yield Per Share of 36.7% QTD and 37.2% YTD, according to the notes. Riot Platforms via X On December 13, we revealed that the company had bought $510 million in BTC, ahead of yesterday’s latest announcement. BTC Hit a New ATH Amidst Increased Global Adoption As institutional interest in BTC continues to grow, and companies are setting up their Bitcoin reserves, MicroStrategy’s latest inclusion in the Nasdaq 100 Index will boost this exposure and support adoption. Also, Trump recently confirmed an upcoming BTC reserve in the US; Russia and Japan reportedly have plans to create their BTC reserves, mirroring an increase in adoption. Europe recognized BTC’s real-world use cases and the potential to support the continent during its energy crisis. Increased adoption and optimism about the industry’s future pushed BTC above $107,000 on December 16 when it reached a new ATH. BTC price in USD today At the moment of writing this article, the digital asset is trading at $107,000, up by 2% today, and has a market cap of $2.11 trillion. Investors are waiting for tomorrow’s FOMC meeting which could bring a new US interest rate cut by the Fed, another price trigger for BTC at the end of this year. Odds for a 25 bps rate cut are currently above 97%, according to CME Group . Predictions remain optimistic for 2025 regarding BTC and the entire crypto industry.
Ethereum Hits 3-Year Price Milestone; Will $5K Be Next?
O Ethereum (ETH) is on the rise and breaking barriers! After more than three years, the second-largest cryptocurrency by market cap has finally surpassed the $4.100 mark, a level that had been seen as a major hurdle for investors. The euphoria surrounding cryptocurrencies, which has been growing in recent months, is one of the main factors driving Ethereum's rise. As the end of the year approaches, investors are more optimistic and looking for new investment opportunities. Santiment platform analysts, observed that a large portion of ETH is held by whales. According to the analysis, there are currently 104 whale wallets holding at least 100 Ethereum. The data revealed that their combined holdings are 57,35% of all ETH tokens in existence, currently worth approximately $333,1 billion, underscoring a long-term bullish signal for the second-largest cryptocurrency. “Meanwhile, wallets with 100-100K hold their lowest supply ratio in history at 33,46%. And wallets with less than 100 ETH hold a nearly 4-year low of 9,19%. With the caveat that the #2 market cap is increasingly comprised of DeFi and staking wallets, it’s still generally a bullish long-term sign when major stakeholders of a coin continue to accumulate… especially when it’s a 9-year-old asset with whales holding its largest portion of coins.” In its most recent milestone, Ethereum managed to break the three-year-old $4.100 barrier, and with that, market experts expect the cryptocurrency to be preparing its next bullish move. Will $5k be next? In a recent technical analysis, cryptocurrency analyst Justin Bennett highlighted that he believes Ethereum has the potential to reach new all-time highs, surpassing the $4.878 it recorded in November 2021. According to him, if the price of ETH manages to stay above the $4.000 to $4.100 range, it could pave the way for a new rally. Bennett too highlights that Ethereum could benefit from the flow of investment that is leaving Bitcoin (BTC). With this, the altcoin could attract new investors and further boost its price. “ETH has been struggling at $4k for obvious technical reasons, and $BTC has stolen the show so far in December. But I bet we’ll see some of those Bitcoin profits flow into Ethereum soon. If ETH can break above $4.000-$4.100, there’s not much stopping a run to $4.800 and potentially $5k to complete this channel. Time for a new Ethereum ATH,” he wrote. In short, the outlook for Ethereum is quite positive. The combination of an optimistic market, the break of an important resistance, and expert projections indicate that the cryptocurrency could perform well in the coming months. At the time of publication, the price of Ethereum was quoted at US$4.000,87, up 2.8% in the last 24 hours. Disclaimer: The views and opinions expressed by the author, or anyone mentioned in this article, are for informational purposes only and do not constitute financial, investment or other advice. Investing or trading cryptocurrencies carries a risk of financial loss. Tags: Cryptos Ethereum (ETH)
EMCD CEO Michael Gerlis Describes Bitcoin's Prospects After New ATH
December 2024 has become a truly historic month for the crypto world. Bitcoin as the market's leading trendsetter once again broke records, reaching a landmark $106,300, with its market capitalization kriptovalyuta exceeded $1,9 trillion. This event became a key driver of crypto market growth and generated a lot of discussions among crypto enthusiasts and investors. EMCD founder and CEO Michael Gerlis did not stay away and shared his expert opinion on the growth of the first cryptocurrency and its future prospects. Bitcoin on the way to $110k: growth catalysts According to Michael Gerlis, the sharp rise in the Bitcoin price in 2024 is not just a coincidence, but the result of a combination of key factors. One of the main events in the United States - Donald Trump's victory in the elections, attracted the attention of cryptocurrency supporters and became the most important driving force for Bitcoin. It's all about the newly elected president's stance on the cryptocurrency sector and his promise to create a " Bitcoin - a superpower." Two other key factors became powerful triggers for capital to flow into the digital coin market: the Fed's reduction in interest rates and the launch of exchange-traded funds in the United States. These events are not just an impulse, but a foundation for long-term growth, Gerlis emphasized. Halving – another reason for the increased attention to Bitcoin. According to the expert, the reduction in emission increases the asset deficit, which contributes to the growth of its rate. Bitcoin once again proves that he is the digital gold of our time, the expert is sure. What awaits the cryptocurrency market? The current growth of Bitcoin is just a starting point for even more significant achievements. In the future, we may witness another sharp jump, which, according to him, is just around the corner. Such optimism is explained by the strengthening of investor interest, support at the state level and the limited emission of the asset. The crypto market is just beginning to reach new heights. The bullish trend we are seeing now is a signal for all investors to pay attention to Bitcoin . The increased interest in the first cryptocurrency and stable support from regulators make the digital asset market even more attractive for major players and investors, Michael emphasized. The EMCD chief also recalled the volatility of cryptocurrency, saying that “ Bitcoin could soar to $150,000 and even $200,000, with some corrections. Investors should understand that sharp fluctuations in the rate, both up and down, are an integral part of the crypto market." Opinion on the new ATH The top manager believes that the current sharp jump of the first cryptocurrency is not only a new page in the history of Bitcoin, but also an important step towards its integration into the global economy. $106,000 is more than just a number. It is a symbol of how cryptocurrencies have become an integral part of the global financial system. Today, they are perceived not only as a speculative instrument, but also as a reliable asset for preserving value and diversifying investment portfolios, Gerlis said. According to the head of EMCD, US policy may become a decisive factor for further growth of Bitcoin. If Trump's promises are fulfilled, the market will receive a powerful impetus for development. The creation of strategic Bitcoin reserves and active promotion of cryptocurrency infrastructure can bring the entire industry to a qualitatively new level. Is it worth investing now? In response to this question, Michael Gerlis emphasized that when choosing assets, it is worth conducting a thorough market analysis: Bitcoin – is an asset for long-term strategies. Its volatility may scare off inexperienced investors, but for those willing to look at the prospect of several years, it opens up unique opportunities for significant capital growth. One of the expert's main pieces of advice is to diversify your portfolio, including not only BTC, but also other assets, because "cryptocurrencies are not a salvation from financial difficulties, but they occupy an important place in the modern investment world. The main thing is a competent approach and understanding of the risks." It is important to remember that every jump in the rate is followed by corrections, and success in the crypto market depends on the right strategy and analysis. EN @happycoinnews EN @happycoinnews_en
Bitcoin’s Price Soars Past $107.1K: Wallet Growth Aligns With Bullish Trend
Bitcoin hits an all-time high of $107.1K, aligning with wallet growth and bullish price momentum. Non-empty wallets extended by 5.2%, counting 54.62 million addresses holding BTC. BTC’s market cap rises to $2.1 trillion, with 24-hour trading volume surging 30.56% to $81.1 billion. Bitcoin has achieved a new all-time high, breaking records by surpassing a market value of $107.1K. The achievement of an ATH relates to the increase in non-empty wallets over the past year. Non-Empty Wallets on the Rise Non-empty wallets refer to addresses containing a positive Bitcoin balance, signaling ownership across various user groups. This trend reflects heightened user confidence and ongoing adoption of digital assets, with the steady increase in wallets highlighting the expanding reach of BTC across both new and existing users. The number of non-empty wallets on the Bitcoin network has ascended to 54.62 million. This figure shows an increase of 5.2% over the past year. Santiment data indicates that BTC’s price movements have recorded a uniform upward trend over the year as the trajectory aligns with wallet growth. Source: Santiment(X) The chart generated by Santiment indicates that, after a brief correction period mid-year, Bitcoin’s price resumed a strong bullish trend. The price saw sharp increases in recent months, illustrated by consecutive green candlesticks leading into December. The blue line on the chart corresponds to the total number of holders, which steadily increased throughout the year. Wallet activity maintained a consistent upward path, indicating increased interest and accumulation among holders. This increase correlates with Bitcoin’s positive price performance, especially during the last quarter A Record-Breaking Market Value CoinMarket Cap data indicates that BTC is trading at $106,460.91 , recalling a 1.86% price increase over the past 24 hours. Bitcoin’s total market capitalization stands at $2.1 trillion, also showing a 1.86% rise. Source: CoinMarketCap Trading volume over the last 24 hours surged to $81.1 billion, recording a 30.56% increase. Bitcoin’s fully diluted valuation (FDV), which represents the potential market cap at max supply, is $2.23 trillion. The volume-to-market cap ratio for the last 24 hours stands at 3.85%. disclaimer read more Crypto News Land, also abbreviated as "CNL", is an independent media entity - we are not affiliated with any company in the blockchain and cryptocurrency industry. We aim to provide fresh and relevant content that will help build up the crypto space since we believe in its potential to impact the world for the better. All of our news sources are credible and accurate as we know it, although we do not make any warranty as to the validity of their statements as well as their motive behind it. While we make sure to double-check the veracity of information from our sources, we do not make any assurances as to the timeliness and completeness of any information in our website as provided by our sources. Moreover, we disclaim any information on our website as investment or financial advice. We encourage all visitors to do your own research and consult with an expert in the relevant subject before making any investment or trading decision.
Forget Bitcoin: This Crypto Exchange Token Jumps 120% in DecemberBitget Obtains El Salvador Bitcoin License
From financemagnates by Damian Chmiel Cryptocurrency exchange Bitget has secured a Bitcoin Service Provider (BSP) license from El Salvador's Central Reserve Bank, positioning itself for growth in Latin America's burgeoning crypto market. In response to this news, BGB, the platform’s native token, rose by 15% over the past 24 hours, more than doubling its value this month. Bitget Obtains El Salvador Bitcoin License The regulatory approval allows Bitget to offer comprehensive Bitcoin services, including exchange operations, payment facilitation, and custody solutions in El Salvador, the first country to adopt Bitcoin as legal tender . The company is also pursuing a Digital Assets Service Provider (DASP) license to expand its cryptocurrency offerings beyond Bitcoin. “Securing the BSP license is a regulatory milestone for Bitget,” said Min Lin, Chief Business Officer at Bitget. “We’re here to fuel the region’s growth by providing secure, accessible, and innovative Bitcoin services. As the world’s interest in crypto accelerates, we see El Salvador as a gateway to unlocking crypto’s potential, enabling financial inclusion, and driving transformative change in real world use-cases.” The exchange plans to establish a dedicated team in El Salvador to strengthen its regional presence and enhance service delivery. This expansion follows Bitget's recent regulatory approvals in European markets, including VASP licenses in Poland and Lithuania , and its recent re-entry into the UK market through a partnership with Archax. BGB Reaches New ATH The news has catalyzed significant growth in Bitget's native token, BGB, which has surged 120% in December alone. The token jumped 11% on Monday and added another 4% following the license announcement, approaching a new all-time high (ATH) of $3.50. BGB test news ATH. Source: TradingView Of course, the recent move in Bitcoin, which also tested its all-time high , is a significant factor. During Monday’s session, BTC briefly climbed near $108,000, reacting positively to the Trump administration’s statements about making cryptocurrency part of the country’s strategic reserves. While Bitcoin has gained 10% this December, BGB has surged by 120%, now ranking among the 30 largest cryptocurrencies by market capitalization at $5 billion. BGB, introduced in February 2022, is a relatively new token. As the native utility token of the Bitget exchange, it provides users with fee discounts, access to additional features such as copy trading, and more favorable staking terms. El Salvador President’s $633M Bitcoin Celebration El Salvador may not be the largest or wealthiest country in the world, but it was the first to try supporting its strained budget by making BTC legal tender. Although it seems that no one is more enthusiastic about the idea than its creator, President Nayib Bukele, the country’s treasury has continued to invest in BTC. El Salvador now holds nearly 6,000 BTC , and Bukele recently boasted on social media that their total value currently exceeds $633 million. For comparison, just a year ago, the same portfolio was worth $200 million less.
Bitcoin Price Prediction: As BTC Sets A New ATH Above $107K, This New PEPE Derivative’s ICO Surpasses $27 Million
The Bitcoin price surged 2% in the last 24 hours to trade at $106,162 as of 11:18 p.m. EST on trading volume that soared 14% to $97.9 billion. The BTC price pump took the leading crypto by market capitalization to a new all-time high (ATH) of $107,822 before taking in a slight correction. As BTC hit its ATH, its Energy Value, a key metric of the BTC Proof-of-Work mining ecosystem, also hit $100,000 for the first time ever. Bitcoin Price Still On A Sustained Bullish Rally The Bitcoin price has been in a strong uptrend since late October. A clear ascending channel pattern can be seen, with the BTC price moving consistently between two upward-sloping parallel trendlines. This pattern signifies a bullish structure, where the asset is making higher highs and higher lows. The price recently tested the upper boundary of the channel, at $106,377, signaling strong buying pressure, according to data from GeckoTerminal . Meanwhile, the 50-day Simple Moving Average (white line) is providing dynamic support, reflecting short-term bullish momentum. The 200-day SMA (yellow line) is far below the current price, which reinforces a longer-term bullish trend. The current Relative Strength Index (RSI) value is 69.32, approaching the overbought territory (above 70). This suggests strong momentum, but it also indicates that the price may face temporary resistance or a pullback as traders could look to take profits. The Moving Average Convergence Divergence (MACD) line (blue) has crossed above the signal line (orange), forming a bullish crossover. The MACD histogram is positive and expanding, which signals increasing bullish momentum. BTCUSD Chart Analysis Source: GeckoTerminal BTC Price Prediction Given the current price structure, indicators, and ascending channel, the price could test the upper boundary of the channel, around $108,000, before facing significant resistance. A breakout above the ascending channel could push the price toward the next psychological resistance level of $110,000–$112,000. If selling pressure increases, the BTC price could retrace toward the lower boundary of the channel (USD 96,000) or the 200-day SMA (USD 96,483), acting as strong support. As the Bitcoin price surges, investors are also buying up a new Pepe alternative called Wall Street Pepe (WEPE) , which Cryptonews, a popular crypto channel with over 13k subscribers, says could be the next massive degen play. Wall Street Pepe Raises Over $27 Million In Presale The Wall Street Pepe presale is skyrocketing, with funds raised soaring past $27 million in less than two weeks, cementing its position as the standout meme coin ICO in the market right now. Wall Street Pepe is about more than just the gains. Each $WEPE token serves as your ticket to join the WEPE Army, an exclusive insider group offering access to member-only trading insights, strategies, and alpha calls. The WEPE Token also offers a passive income opportunity through its staking feature, which offers a dazzling 45% annual percentage yield (APY). You can buy WEPE Token from the official website for $0.0003646 using ETH, USDT, or a bank card. Buy before a price increase in 17 hours to lock in the best deal. Buy WEPE here . Related News Trending Meme Coin Pepe Unchained Lists On CEXs As PEPU Readies 2x Rewards DOG Price Pumps 12% As This Staking Crypto Offers Investors Last Chance To Buy 6 Best Cheap Crypto to Buy Now Under 1 Dollar December
XRP Price Prediction: Will XRP Hit $3 Soon or a NEW ATH?
XRP Price Analysis: Catalysts Behind XRP’s Momentum Launch of Ripple’s RLUSD Stablecoin Ripple’s recent introduction of the RLUSD stablecoin is one of the major forces propelling XRP’s price. The RLUSD, a USD-pegged stablecoin, has started trading on platforms like MoonPay, Uphold, CoinMENA, Bitso, and ArchaxEx. Backed by cash reserves and US treasury bills, RLUSD aims to bring more liquidity and utility to the XRP Ledger (XRPL). Since its launch on December 17, XRP’s value has seen a significant spike, as investors anticipate increased utility and demand for XRP to pay transaction fees on the XRPL. By TradingView - XRPUSD_2024-12-17 (1D) Bull Flag Pattern Validation XRP’s recent price movements confirmed a bullish "bull flag" pattern, which is often seen as a sign of continued upward movement. XRP’s breakout above the $2.41 resistance and subsequent tests of the $2.60 resistance zone suggest strong bullish momentum. Analysts believe that if XRP clears resistance at $2.80 and the psychological $3.00 level, it could trigger a significant rally toward new all-time highs, potentially reaching $3.48 and beyond. Technical Indicators Signal Bullish Sentiment Technical indicators further support the bullish case for XRP. The Relative Strength Index (RSI) has risen from 61 to 67, indicating strong bullish momentum. Meanwhile, the Moving Average Convergence Divergence (MACD) shows increasing strength in the bullish zone, further confirming the likelihood of continued price increases. XRP Price Prediction: Will XRP Hit $3 Soon? Ripple’s XRP is on a bullish trajectory, driven by key developments and growing investor interest. Over the past month, XRP has surged by more than 130%, reclaiming the $2.50 level and showing signs of an imminent push toward $3. By TradingView - XRPUSD_2024-12-17 (All) XRP Gears Up for a $3 Breakthrough Market observers remain optimistic about XRP’s potential to break past $3. Predictions from industry analysts suggest short-term targets of $5.85 and $8.76, with XRP’s momentum driven by factors like the RLUSD stablecoin launch and ongoing investor sentiment. XRP’s current price of $2.64, coupled with its confirmed bull flag pattern and growing bullish sentiment, hints at a possible rally beyond $3 in the near term. By TradingView - XRPUSD_2024-12-17 (YTD) Support and Resistance Levels to Watch Support Levels: $2.45, $2.42, and $2.32 Resistance Levels: $2.60, $2.80, $2.90, and $3.00 If XRP clears the $3.00 resistance, it could accelerate the rally to its all-time high of $3.48, with the possibility of entering uncharted territory. Failure to sustain above $2.41 could, however, invalidate this bullish thesis. Market Sentiment and Broader Impact Investor sentiment around XRP has shifted significantly. President-elect Trump’s pro-crypto comments and regulatory clarity regarding the RLUSD stablecoin have strengthened the bullish narrative. Additionally, MicroStrategy’s multi-billion-dollar Bitcoin purchase has reignited enthusiasm in the broader crypto market, indirectly supporting XRP’s upward move. By TradingView - XRPUSD_2024-12-17 (5D) With the successful launch of RLUSD, bullish technical patterns, and increasing investor interest, XRP appears primed for a move toward $3. While resistance levels at $2.80 and $3.00 remain key hurdles, a high-volume breakout could trigger an explosive rally toward $3.48 and beyond. Analysts maintain short-term targets of $5.85 and $8.76, indicating that the broader market remains bullish on XRP’s long-term potential.
Martin Shkreli says that Michael Saylor’s Bitcoin playbook for MicroStrategy will ‘not end well’
‘Pharma Bro’ Martin Shkreli recently criticized MicroStrategy CEO and co-founder Michael Saylor for initiating his Bitcoin playbook for the asset management company. Pharma Bro mentioned on the Shkreli Planet podcast that Saylor was drunk on the idea. Shkreli added that the situation was a big bubble that would not end well for the company. The asset management company introduced Bitcoin as its treasury reserve asset. Saylor described the digital asset as ‘digital gold’ and mentioned its stability as a store of value. The asset manager’s CEO further mentioned MicroStrategy’s plan to leverage BTC as a hedge against inflation. Michael Saylor also introduced the idea of BTC as a reserve currency for institutions in his Bitcoin playbook. Shkreli pointed out MicroStrategy’s plan to continuously purchase Bitcoin as part of the company’s business model. The asset management company first purchased BTC in 2020 worth $250 million to get 21,454. MicroStrategy made the most recent purchase of BTC worth $1.5 billion on December 15, increasing its holdings by 15,350 coins and bringing its total to 439,000 BTC. Pharma Bro also revealed during the discussion that he was shorting MicroStrategy stocks. Despite this claim, the investor did not reveal the size of his position. Shkreli added that his trade was a bit painful but fun. MicroStrategy stocks have still been rising despite Pharma Bro’s negative sentiment. MSTR has been up 490% this year, allowing the company to join the Nasdaq-100 index. See also CZ casually brags about helping Elon buy Twitter - "Happy to have contributed to the cause" Martin Shkreli says Saylor is not a favorable BTC advocate Shkreli further criticized Saylor’s advocacy for BTC. The investor suggested that the MicroStrategy CEO was not the best advocate for the currency despite being among the loudest. Shkreli also doubted Saylor’s commentary on BTC, citing a lack of credibility. The investor mentioned Saylor’s recent presentation to Microsoft shareholders. The MicroStrategy CEO shared his thoughts with the technology conglomerate on December 1. Saylor suggested that Bitcoin was the next technology wave, and Microsoft could not afford to miss it. The executive of the asset management firm suggested that Microsoft redirect its debt, stock buybacks, cash payouts, and other income sources toward BTC. Saylor further explained that the action could increase the company’s value by trillions while reducing investor and shareholder risks. Microsoft shareholders voted no to the proposal, citing reservations due to the coin’s volatility. However, the company’s board still highlighted that it would monitor developments in the BTC markets. Shkreli discussed the vote turnout, mentioning the 0.5% ‘yes’ vote and describing it as the worst proxy vote he had ever seen. The investor added that the negative outcome made him slightly bearish on BTC. Shkreli speculates on the BTC price outcome Pharma Bro speculated the outcome of BTC prices in relation to MicroStrategy’s cryptocurrency acquisitions. In his opinion, the coin’s price should have spiked after the billions of dollars the asset management company has injected into BTC purchases. See also Can 1 million Bitcoin really pay off the $36 trillion U.S. national debt? Peter Schiff doubts Shkreli then speculated that the current price showed a bearish BTC sentiment. The investor insisted that his prediction did not mean the coin’s price would plunge. BTC has made notable steps, reaching a new all-time high of $107,104 today. The coin is trading 0.18% lower than the new ATH but over 3% higher than yesterday’s price. Despite the ongoing discussions, Shkreli further mentioned that he expected the U.S. to stockpile only a little BTC. Shkreli highlighted that the next government could undo the progress even if Trump’s government accumulates BTC. President-elect Donald Trump has been preparing to make Bitcoin the strategic reserve asset of the U.S. Treasury. Trump has also promised that the government will continue with significant BTC mining projects and acquisitions. From Zero to Web3 Pro: Your 90-Day Career Launch Plan
Ethereum May Retest $3,700 Before a Major Rally, Analyst Predicts
Ethereum relatively sluggish price performance compared to Bitcoin’s continuous rise appears to have captured the attention of crypto analysts. While Bitcoin has created a new peak above $106,000 earlier today, Ethereum’s price still sits below $4,000 with a current trading price of $3,943, marking a modest 1.4% increase over the past 24 hours. However, despite this slow pace, some analysts see signs of strength and potential growth for Ethereum in the near term. Retest Before The Major Rally One notable analyst, CryptoBullet, shared his insights on X, drawing comparisons between the current market environment and Ethereum’s January 2021 rally. “Second consecutive weekly candle closed above the resistance,” the analyst observed. “The shape of the candle and overall environment reminds me of January 2021. We might wick to $3,700 this week, but it will be bought back up quickly. Don’t ignore this ETH strength.” CryptoBulllet further emphasized that Ethereum’s ability to hold its position above key resistance levels is a strong indicator of bullish momentum, suggesting that a significant price movement could be on the horizon. $ETH 1W update Second consecutive weekly candle closed above the Resistance 👌😁 The shape of the candle and overall environment reminds me of January 2021 We might wick to $3700 this week but it will be bought back up quickly 📈 Don’t ignore this #ETH strength! https://t.co/rIamWMSAb6 pic.twitter.com/29bs5aTUd3 — CryptoBullet (@CryptoBullet1) December 16, 2024 Titan of Crypto, another renowned analyst in the community echoed this optimism, noting Ethereum’s highest weekly candle close since 2021 as a major milestone. “Ethereum New ATH Incoming. ETH just achieved its highest weekly candle close since 2021, a major milestone,” he wrote. “A successful retest could propel it to its previous ATH and beyond.” These observations indicate growing confidence among market participants that Ethereum could soon reclaim its all-time high of $4,878, last achieved in November 2021. Ethereum Traders Faces Liquidation Despite these bullish projections, Ethereum’s recent price action has not been favorable for all market participants. According to data from Coinglass, 123,021 traders were liquidated over the past 24 hours, resulting in a total of $396.41 million in liquidations across the crypto market. Ethereum accounted for approximately $53.12 million of these liquidations, with long positions taking the larger hit at $28.4 million, while short positions saw liquidations worth $24.69 million. Notably, liquidation occurs when a trader’s position is forcibly closed by an exchange due to insufficient funds to cover losses. In the case of Ethereum, the higher volume of liquidations, particularly among long positions, reflects a level of over-leverage among traders betting on the asset’s upward momentum. Featured image created with DALL-E, Chart from TrangView
Bitcoin Price Sets New Price High Above $106,300
Today, the price of Bitcoin recorded a new all-time high at $106,352 (data from CoinGecko). Currently the largest in the world kriptovalyuta is hovering around the $105,000 mark, having added 24% over the past 3,5 hours, with a weekly gain of 6,1%. The new all-time high is significant for Bitcoin, marking its evolution into an established asset class, says BTC Markets crypto analyst Rachel Lucas. ATH reflects Bitcoin's transition from a retail asset to an asset supported by institutional demand, ETF and corporate treasuries, which strengthens its legitimacy. Several factors are believed to have contributed to Bitcoin's surge above $106,000, including US President-elect Donald Trump's recent announcement of a Bitcoin strategic reserve and his desire to do "something great" with the cryptocurrency. Improving sentiment in the crypto market promoted by MicroStrategy , which has already formed a reserve of bitcoins worth more than $44 billion and will enter the Nasdaq 100 on December 23rd. In addition, the mining giant bitcoins Riot Platforms announced last Friday that he had purchased 5117 bitcoins at an average price of $99,669 per Bitcoin . Investors now look ahead to the Federal Reserve's final meeting of the year on Wednesday. CME Group's FedWatch tool currently gives a 97,1% chance of a 25 basis point rate cut. EN @happycoinnews EN @happycoinnews_en
Bitcoin Tops $106K, Outpaces Gold with All-Time High Purchasing Power
Last updated: December 16, 2024 07:18 EST The Bitcoin-to-gold ratio, a key metric measuring Bitcoin’s purchasing power relative to gold, has reached a new all-time high (ATH) as Bitcoin’s price surges to record-breaking levels. Veteran futures trader Peter Brandt revealed the development in a Monday post on X , noting that the ratio had climbed to an ATH of 40 ounces of gold per 1 BTC. It is now official. The Bitcoin/Gold ratio has now posted a new ATH. Next stop will be 89 to 1 — it will require 89 ounces of Gold (purchased at a rip-off premium from Shifty-Schiff SchiffGold @PeterSchiff ) to buy a single Bitcoin. pic.twitter.com/PZnIQ81zwW — Peter Brandt (@PeterLBrandt) December 16, 2024 The milestone reached as Bitcoin’s price soared past $106,000 , while spot gold (XAU) traded around $2,650 per ounce. What Is the Bitcoin-to-Gold Ratio? The Bitcoin-to-gold ratio is calculated by dividing Bitcoin’s price by the spot price of gold. This metric provides insight into Bitcoin’s relative purchasing power compared to gold, often seen as a traditional store of value. Brandt suggested that the ratio could climb even higher, predicting a future target of 89 ounces of gold per Bitcoin. “Next stop will be 89 to 1 — it will require 89 ounces of Gold (purchased at a rip-off premium from Shifty-Schiff SchiffGold to buy a single Bitcoin.” This comes amid a growing belief within the cryptocurrency community that Bitcoin could capture a larger share of gold’s $15 trillion market. Supporters argue that Bitcoin’s digital nature, scarcity, and decentralized attributes position it as a modern alternative to gold. Bitcoin’s current market value is around $2.1 trillion, significantly lower than gold’s total market capitalization. Bitcoin and gold market cap comparison | Source: IGWT report Last week, MicroStategy’s Michael Saylor asked the United States government to sell its gold and buy Bitcoin instead. The U.S. government is publicly known as one of the largest nations with gold as its reserve, accounting for 72% of the total. Based on TradingEconomics data , the U.S. owns 8,133 tons of gold and dominates international commodity trading. However, Michael Saylor urged the government not to buy more gold but to buy more Bitcoin for future assets against inflation. As a national reserve, he believes Bitcoin will rise to trillions of dollars. “Dump your gold, sell all the U.S. gold, and buy Bitcoin because you can buy 5 million Bitcoin for the cost of the gold. You’ll demonitize the entire gold asset class and our enemies hold gold in their banks, and so their asset would go to zero, while our asset go to trillion dollars.” Michael Saylor calls on the US Government to sell all of its gold and buy #Bitcoin . pic.twitter.com/G25G6uXHOf — Watcher.Guru (@WatcherGuru) December 15, 2024 Bitcoin Mining Difficulty Hits New Record Adding to the momentum, Bitcoin’s mining difficulty has also hit a new record. On December 15, Bitcoin’s mining difficulty rose above 105 trillion, according to data from CoinWarz. Mining difficulty, which adjusts roughly every 14 days, determines how challenging it is for miners to find a valid hash for a new block. The next adjustment is scheduled for January 1, 2025. As reported, Jack Dorsey’s Block has also announced plans to ramp up investments in its Bitcoin mining initiative and self-custody Bitcoin wallet.
Bitcoin Sets New ATH at $106,300
The leading cryptocurrency reached a new all-time high (ATH), briefly exceeding $106,300. This surge propelled the total crypto market capitalization to a record $3.92 trillion. According to CoinGecko, BTC reached an ATH of $106,352. As of 10:00 a.m. (GMT+2) on December 16, 2024, a slight correction brought the price down to around $104,900. Bitcoin’s dominance rate currently hovers just above 57%. The main catalyst behind this surge was Donald Trump’s statement on CNBC, confirming his plans to support Bitcoin as a strategic reserve. He noted that such a move would secure the United States’ leadership in the digital asset sector. Moreover, similar proposals are under consideration at the state level in Texas, Florida, Alabama, and Pennsylvania. Another significant factor driving Bitcoin’s rally is the anticipation of a U.S. Federal Reserve rate cut. According to Forbes, Fed officials may announce a 25 bps reduction at their upcoming meeting on December 18. Bitcoin’s previous ATH of $103,700 was set less than two weeks ago. Subsequently, CP Media analyzed potential growth limits for Bitcoin and the factors driving its rise. One of the key drivers identified was the use of BTC as a reserve asset.
New Peak for EigenLayer as Momentum Builds
EigenLayer trades at $5.37 after a 7.75% jump. EIGEN’s daily trading volume has surged by a remarkable 84.25%. Following a short bullish correction, the crypto market cap has bounced to $3.75 trillion, with assets reflecting both profits and setbacks. In the face of mixed sentiment, EigenLayer (EIGEN) has hit a new all-time high at $5.65. The prolonged 117% rally of EIGEN over the past thirty days fueled the asset to hit new highs. In the early trading hours, a series of crucial resistances were broken, particularly at $5.14 and $5.30. Over the last 24 hours, EigenLayer has visited its low at $4.92 and eventually jumped to the ATH. As of now, EIGEN trades at $5.37, registering a gain of over 7.75%. The asset’s market cap has reached $1.13 billion. In the meantime, the daily trading volume of the asset is resting at $406 million. EIGEN price chart (Source: CMC ) Zooming in on the weekly price chart, EIGEN has recorded an 11.27% gain. The asset opened the week trading at $4.79, and the price momentum was highly volatile. The midweek trading level is observed between $4.99 and $4.55, respectively. Does EIGEN Have More Potential? The four-hour price graph of EIGEN has reported an active upside correction, inferring market interest. If the bullish momentum continues, the asset could surpass the current ATH with ease, hitting $5.77. This signals a mighty continuation of the uptrend, and the altcoin can reach a high of $5.85. If the bullish sentiment turns around, EIGEN might encounter sturdy downside pressure. The price could fall back and stabilize at $5.33. Failure to hold ground at this level could wipe the gains, causing the asset to backpedal toward the $5.27 mark or even lower. EigenLayer’s daily trading window displays the short-term 9-day moving average upon the long-term 21-day moving average. Moreover, the daily Relative Strength Index (RSI) stands at 61.14, within the neutral range. It reflects a dominant buying pressure in a healthy uptrend. Additionally, the Moving Average Convergence Divergence of the EIGEN/USDT trading pair illustrates the MACD line has crossed upon the signal line. This crossover likely highlights the positive movement of EigenLayer. There could be more buying interest, and the price may ascend. EIGEN chart (Source: TradingView ) The technical indicator, Chaikin Money Flow (CMF), is positioned at -0.01, inferring the negative money flow. It signals a weak distribution but not an absolute bearish signal. If it declines further, strong selling pressure is confirmed. Concurrently, EigenLayer’s daily trading volume has surged by over 84.25%. Disclaimer: The opinion expressed in the article is solely the author’s. It does not represent investment advice. TheNewsCrypto team encourages everyone to do their own research before investing. Highlighted Crypto News Could the RLUSD Launch Ignite an XRP Bull Run?
Can BGB Reach $5 Before a Possible Pullback?
BGB reaches ATH of $3.65, surging 11% in the past 24 hours.” Descending broadening wedge pattern signals bullish reversal. Bitget Token (BGB) has witnessed a remarkable surge, climbing 11% in the past 24 hours and reaching an all-time high (ATH) of $3.65 just hours ago. This rally has cemented BGB’s impressive monthly gain of 162%, with the token currently trading at $3.62. BGB Price Chart, Source: Sanbase The price action of BGB has drawn attention to a descending broadening wedge pattern, a bullish reversal indicator. This formation, often described as an inverted ascending triangle, comprises two diverging trendlines. The upper line acts as a horizontal resistance, while the lower line trends downward, offering support. Analysts have set the next resistance levels (R1 and R2) at $4.08 and $4.44, respectively, with significant support identified at $2.903. Moreover, adding to the technical analysis, the daily Relative Strength Index (RSI) for BGB has reached 83, indicating that the token is in an overbought zone. High RSI levels typically suggest that a pullback or correction could occur, although the broader market sentiment and external factors might continue to support its bullish momentum. This surge in BGB’s price aligns with Bitcoin ’s recent breakout to a new ATH of $107,000, which has created a ripple effect across the cryptocurrency market. The robust performance of Bitcoin often spurs interest and trading activity in altcoins, further amplifying their growth. What does BGB’s Future Look like? BGB’s rally is notable against this backdrop, highlighting the growing popularity and adoption of the Bitget exchange ecosystem. Market participants are keeping a close eye on the token’s price movements, particularly its ability to breach key resistance levels and maintain its upward trajectory. However, the current momentum is strong, traders and investors are advised to approach with caution due to the overbought RSI levels and the potential for short-term volatility. Nonetheless, the long-term outlook for BGB remains optimistic, supported by its technical pattern and the overall bullish sentiment in the crypto market. Highlighted News Of The Day Semler Scientific Expands BTC Holdings with $21.5M Purchase
Bitcoin Price Hit a New ATH Above $106K Ahead of FOMC Meeting
Key Points On December 18, the upcoming FOMC meeting could lead to a new interest rate cut of 25 bps. Bitcoin hit a new ATH above $106,000 earlier today, boosted by multiple factors amidst an optimistic market. Today, Bitcoin reached a new ATH above $106,400, ahead of this week’s Federal Open Market Committee meeting which could lead to a new interest rate cut, according to predictions. BTC’s price rally was sustained by multiple factors including Trump’s confirmation of a US BTC reserve, continued flows in BTC ETFs, and MicroStratgy’s addition to the Nasdaq 100 Index on Friday. BTC Hits a New ATH Ahead of Fed’s Decision At the moment of writing this article, BTC is trading above $105,000, up by over 3% today. Earlier, the digital asset reached a new ATH above $106,000, hitting a market cap of $2.11 trillion. BTC price in USD today Now, BTC’s market cap is $2.08 trillion. BTC rose to a new ATH earlier as investors are waiting for the US Fed’s decision regarding a new interest rate cut. The FOMC meeting is scheduled to take place on December 18, and according to CME Group , the possibility of a new rate of 25 bps is now 97.1%. CME Group data A new interest rate cut in the US would be positive for BTC’s price, as historical rate cuts have boosted the value of the digital asset, as CNBC notes in a recent article. Lower interest rates also imply a weakening dollar and growing money supply – both these factors have demonstrated long-term correlations with BTC so far. Other BTC Price Triggers Bitcoin’s price rally was sustained by continued inflows in BTC ETFs in the US which saw constant influxes since November 27. The crypto products recorded a cumulative net flow of $35.6 billion since their January launch, surpassing the important $20 billion mark much faster than gold. BTC’s price rally was also fueled by MicroStrategy’s addition to the Nasdaq 100 Index, an achievement that will offer exponential exposure to BTC to new potential investors. MicroStrategy became the first Bitcoin-centric company in the world to be included in the Nasdaq 100 Index, setting a possible precedent for others to follow in its footsteps. Also, the crypto market is filled with optimism stemming from the new upcoming Trump administration, especially since the new US President has recently confirmed the creation of a BTC Reserve in the US. All these bullish moves set the stage for a new golden era for Bitcoin and the entire crypto industry in 2025.
Bitcoin Price Prediction: Can Bitcoin Reach $110,000 After Today's New ATH near $107K?
Bitcoin (BTC) has shattered expectations once again, reaching an all-time high (ATH) of $106,803 . This remarkable price surge has fueled fresh optimism in the crypto market, with speculators and investors wondering whether BTC could soon cross the $110,000 mark. The catalyst for this surge is linked to President-elect Donald Trump's proposal to establish a U.S. strategic Bitcoin reserve , signaling a potential seismic shift in the adoption of Bitcoin by governments. Bitcoin Newest ATH The cryptocurrency market witnessed an extraordinary surge as Bitcoin's price skyrocketed to a historic ATH of $106,803. This new milestone was driven by increased institutional interest, whale accumulation, and a bullish shift in market sentiment. Notably, Bitcoin's trajectory aligns with broader macroeconomic factors, including discussions about potential U.S. adoption of BTC as part of a national reserve strategy. According to market analysts, the $100,000 psychological barrier was a crucial resistance level. Breaking past this threshold has now positioned Bitcoin for a potential rally toward higher price points. Technical indicators like RSI and MACD suggest bullish momentum remains strong, further reinforcing the potential for Bitcoin to continue its upward trajectory. By TradingView - BTCUSD_2024-12-16 (1D) President-Elect Trump's Proposal for a U.S. Bitcoin Reserve One of the key drivers behind Bitcoin’s recent surge is President-elect Donald Trump's proposal to create a U.S. strategic Bitcoin reserve . This move is viewed as a landmark moment for the broader cryptocurrency industry, as it signals potential government-level support for BTC as a reserve asset. This proposal comes at a time when countries like El Salvador and certain Middle Eastern nations are already adopting Bitcoin as part of their national financial strategy. If the U.S. follows suit, it could set a precedent for other nations to consider similar moves. Such an endorsement from one of the world’s largest economies would likely drive Bitcoin demand, creating upward price pressure. Bitcoin Price Predictions Can Bitcoin Reach $110,000? With BTC’s current momentum, the $110,000 price target seems within reach. Market sentiment remains overwhelmingly bullish, with several technical and fundamental factors supporting this outlook: Institutional Interest: Institutional investors are actively accumulating BTC, as evidenced by significant outflows from exchanges to cold storage wallets. Technical Analysis: Technical indicators, including Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD), point to strong upward momentum. By TradingView - BTCUSD Technical Indicators 2024-12-16 Macro Environment: The Federal Reserve’s potential shift in monetary policy, combined with reduced inflation fears, has increased Bitcoin’s appeal as a hedge asset. Trump’s BTC Reserve Proposal: The possibility of a U.S.-backed Bitcoin reserve could attract significant capital inflows, pushing BTC’s price higher. Although BTC has displayed bullish momentum , it’s important to note that the cryptocurrency market is known for its extreme volatility. While many predict a move to $110,000, sharp corrections could occur as investors take profits. By TradingView - BTCUSD_2024-12-16 (YTD) Expert Price Predictions for BTC Market analysts have provided mixed forecasts on where Bitcoin’s price could head next. Some prominent predictions include: Bloomberg Analysis: Bloomberg analysts predict Bitcoin could reach as high as $150,000 if momentum continues and institutional adoption accelerates. Independent Analysts: Several independent analysts have forecasted a BTC rally to $110,000 in the coming weeks if buying pressure remains consistent. Skeptics’ Take: On the other hand, skeptics warn of potential retracements, especially as retail investors seek to cash in on recent gains. By TradingView - BTCUSD_2024-12-16 (All) Bitcoin’s new ATH of $106,803 marks a historic moment for the cryptocurrency market. Backed by President-elect Trump's proposal for a U.S. strategic Bitcoin reserve, BTC's potential for further price growth is stronger than ever. While technical indicators suggest continued bullish momentum, investors must remain cautious due to the volatile nature of the crypto market. With institutional interest rising, technical analysis signaling growth, and potential government adoption on the horizon, Bitcoin’s price could soon breach the $110,000 mark. However, as with any financial asset, past performance is not indicative of future results. Investors are advised to monitor market trends and stay informed about key policy changes, especially with the potential U.S. Bitcoin reserve initiative in play.
Aethir launches $100M fund to boost Web3 innovation in MENA
Aethir (CRYPTO:ATH) has teamed up with the Blockchain Center Abu Dhabi (ADBC) to support Web3 innovation in the MENA region. The collaboration centers on advancing AI and gaming projects through Aethir's $100 million Ecosystem Fund. The fund includes subsidies for graphics processing units (GPUs) and token grants aimed at eligible ventures. Aethir's decentralized GPU cloud infrastructure offers high-performance computing solutions for developers. Meanwhile, ADBC will assist with project onboarding, leveraging its regulatory and market expertise. This partnership seeks to foster global Web3 innovation with a focus on AI and gaming applications. “Aethir and ADBC are working together to create a more inclusive and innovative ecosystem,” a statement said. The Ecosystem Fund aims to encourage the development of AI-driven solutions and next-generation gaming experiences. By offering GPU subsidies and token grants, Aethir aims to lower the financial barriers for developers and startups. This initiative aligns with Aethir's mission to expand Web3 capabilities across the MENA region, particularly in the fields of AI and gaming. The collaboration is expected to streamline regulatory and market access for projects, facilitating a smoother path to success. Aethir's infrastructure, which includes a decentralized GPU cloud, is designed to provide scalable and efficient computing power for blockchain-based projects. At the time of reporting, the Aethir price was $0.08019.
Bitcoin Continues to Break Records, New ATH Arrives! Here Are the Factors That Triggered the Rise
Bitcoin broke new records on Monday night, rising to an all-time high of $106,648. Bitcoin Reaches All-Time High Bitcoin is currently trading at $105,000, up 2.80% in the last 24 hours, and the price has pulled back slightly from its record high. Analysts attribute Bitcoin's record-breaking rally to a combination of institutional demand, rising adoption, and supportive market developments. “This new all-time high is a turning point for Bitcoin,” said Rachael Lucas, crypto analyst at BTC Markets. “It signals that Bitcoin is shifting from a retail-focused asset to one increasingly dominated by institutional investors, ETFs, and corporate adoption, further solidifying its status as a legitimate asset class.” Key Factors Behind the Increase US President-elect Donald Trump has sparked optimism in the crypto market with his recent announcement of creating a strategic crypto reserve and promising to “do something great” with crypto. MicroStrategy Joins Nasdaq 100 MicroStrategy, a major Bitcoin holder with reserves worth over $44 billion, announced on December 23 that it will join the Nasdaq 100 index. Co-founder Michael Saylor also fueled the excitement with social media posts hinting at additional Bitcoin purchases. Riot Platforms' Bitcoin Purchase Bitcoin mining giant Riot Platforms further boosted market sentiment on Friday by announcing that it purchased 5,117 Bitcoins at an average price of $99,669 per coin. The Federal Reserve’s final FOMC meeting of the year on Wednesday is drawing a lot of attention from investors. The probability of a 25 basis point rate cut is 97.1%, according to CME Group’s FedWatch tool, which could provide further support for Bitcoin and other risk assets. “The FOMC meeting will provide important insights into the Fed’s monetary policy trajectory,” said Min Jung, an analyst at Presto Research. “Any dovish signals, combined with expectations for Trump’s crypto-related policies, could trigger another rally for Bitcoin.” As we approach the end of 2024, market participants remain optimistic about Bitcoin’s continued growth potential. With deepening institutional participation and macroeconomic factors aligning, analysts are predicting a strong start for Bitcoin in the new year. *This is not investment advice.
Bitcoin Price New ATH: Is This Just The Beginning?
Bitcoin price started another increase above the $100,000 resistance zone. BTC is up nearly 5% and it traded to a new all-time high above $106,400. Bitcoin started a fresh surge above the $100,000 zone. The price is trading above $102,000 and the 100 hourly Simple moving average. There is a connecting bullish trend line forming with support at $103,400 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could start a fresh increase if it stays above the $102,500 support zone. Bitcoin Price Rallies Again Bitcoin price formed a base and started a fresh increase above the $100,000 zone. There was a move above the $102,200 and $103,500 levels. The price even cleared the $104,000 level. A new all-time high was formed at $106,487 and the price is now consolidating gains. It is slowly moving lower below the 23.6% Fib retracement level of the recent wave from the $99,250 swing low to the $106,487 high. Bitcoin price is now trading above $102,000 and the 100 hourly Simple moving average . There is also a connecting bullish trend line forming with support at $103,400 on the hourly chart of the BTC/USD pair. The trend line is close to the 50% Fib retracement level of the recent wave from the $99,250 swing low to the $106,487 high. On the upside, the price could face resistance near the $105,500 level. The first key resistance is near the $106,500 level. A clear move above the $106,500 resistance might send the price higher. The next key resistance could be $108,000. A close above the $108,000 resistance might send the price further higher. Source: BTCUSD on TradingView.com In the stated case, the price could rise and test the $110,000 resistance level. Any more gains might send the price toward the $112,000 level. Another Decline In BTC? If Bitcoin fails to rise above the $105,500 resistance zone, it could continue to move down. Immediate support on the downside is near the $103,500 level or the trend line. The first major support is near the $102,000 level. The next support is now near the $100,250 zone. Any more losses might send the price toward the $98,000 support in the near term. Technical indicators: Hourly MACD – The MACD is now gaining pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level. Major Support Levels – $103,500, followed by $102,000. Major Resistance Levels – $105,500, and $106,500.
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