All articles tagged with #cryptocurrency market
BNB Coin hit a new all-time high of $850, with analysts suggesting it could reach $1,000 or even $2,000 in the coming months, driven by strong market momentum and historical patterns, though risks and market conditions should be considered.
President Trump signed the Genius Act into law, establishing a regulatory framework for stablecoins in the U.S., which aims to enhance financial stability, support the dollar's reserve currency status, and boost crypto industry innovation. The legislation has positively impacted crypto prices, with Bitcoin and other tokens seeing gains, and contributed to the crypto market surpassing $4 trillion in value.
XRP is currently in a tight consolidation phase with low volume and high compression between multiple EMAs, indicating a potential for a significant price explosion in 2025, though the direction remains uncertain and could lead to substantial volatility.
Bitcoin, Ethereum, and Dogecoin experienced a sharp decline following a flash crash, with Bitcoin dropping to $94,355 before recovering to the high $97,000s. The crash led to $1.72 billion in cryptocurrency liquidations, primarily affecting leveraged long positions. Despite the volatility, long positions for Bitcoin increased, indicating optimism for future price rises. Analyst Justin Bennett highlighted critical support levels for Bitcoin, while CryptoQuant noted strong buying pressure from U.S. institutional investors. The global cryptocurrency market cap fell by 5.37% to $3.48 trillion.
Bitcoin's price has fallen below $97,000 after briefly surpassing $100,000, leading to declines in other major cryptocurrencies. Dogecoin and XRP are among the biggest losers, dropping around 8% in the last 24 hours. Despite recent declines, XRP has surged 333% over the past month, while Dogecoin is up 106%. Solana and Ethereum have also seen declines, with Solana down 6% and Ethereum down 5%. The market downturn has resulted in $620 million in liquidations over the past day.
Altcoin funding rates have reached a 9-month high, driven by significant leverage, raising concerns about potential long liquidations. Despite impressive gains by altcoins like Hedera, XRP, and Cardano, the high funding rates of 4%-6% per month could erode margins if prices stagnate or decline. This situation is exacerbated by tight liquidity, as most market focus remains on Bitcoin, potentially leading to a long-liquidation cascade if short-sellers dominate. Investors are advised to remain cautious amid ongoing volatility and potential market corrections.
Leading cryptocurrencies like Bitcoin and Dogecoin saw price increases as traders returned from Thanksgiving, with Bitcoin nearing the $100,000 mark. Ethereum remained steady around $3,700. The global cryptocurrency market cap rose to $3.48 trillion, with significant gains in altcoins like Hedera and Litecoin. Analysts predict a strong December for Bitcoin, potentially closing above $100,000, as historical trends during halving years show significant monthly gains.
Bitcoin's increasing adoption by establishment institutions, including the potential for a US government stockpile, is raising concerns about concentration risk. With over 1 million Bitcoins held by US exchange-traded funds and significant holdings by companies like MicroStrategy, the cryptocurrency's landscape is shifting from its libertarian roots. Despite these changes, the demand continues to drive prices up, and the decentralized nature of Bitcoin's blockchain prevents any single entity from controlling its operations.
Crypto analyst Ali Martinez predicts a parabolic rally for Dogecoin (DOGE), despite a recent bearish signal from the TD Sequential indicator, similar to patterns seen in 2017 and 2020 before major rallies. Martinez suggests DOGE could reach $14 if it follows its ascending channel pattern. Meanwhile, he remains bullish on Bitcoin (BTC), countering market expectations of a pullback after its rise near $100,000, citing historical trends and the average mining cost as indicators of continued growth.
Dogecoin has surged 210% in the past 34 days, driven by excitement over the Department of Government Efficiency initiative led by Elon Musk. Despite a recent plateau, legendary trader Peter Brandt and analyst @Kultigin83 identify a bullish 'running continuation flag' pattern on the DOGE/USD chart, suggesting a potential price target of $0.66. This pattern indicates that Dogecoin's upward momentum may continue if it breaks out from its current consolidation phase.
Dogecoin has triggered a Tom Demark (TD) Sequential sell signal, indicating a potential price reversal. However, analyst Ali Martinez suggests that this may not hinder Dogecoin's ongoing parabolic bull run, as similar patterns in past bull runs led to only temporary setbacks before the rally continued. The current cycle shows Dogecoin moving within an ascending parallel channel, suggesting the potential for further price increases if the pattern holds.
Institutional interest in Ethereum has surged, with CME Futures Open Interest reaching a record high of $2.5 billion, indicating a significant increase from earlier in November. This rise in interest has led to Ethereum gaining ground against Bitcoin, as evidenced by the ETHBTC ratio's 15% increase. However, the sustainability of this momentum depends on whether the ETHBTC ratio can maintain its position above the 50-day Simple Moving Average. Despite recent gains, the market remains cautious due to potential price volatility from hedge fund strategies.
Dogecoin experienced an 11.5% drop in value over the past 24 hours amid a market correction, despite Elon Musk's humorous endorsement. Traders remain optimistic about its long-term potential, citing support levels and increased transaction volumes. The Dogecoin Foundation is working on projects to enhance DOGE's utility as a practical currency, with support from Ethereum co-founder Vitalik Buterin. Despite the recent dip, Dogecoin has seen significant gains over the past month, outperforming other meme coins like Shiba Inu and Pepe.
XRP has formed a golden cross against Bitcoin, a bullish technical pattern where the 50-day moving average crosses above the 200-day moving average, indicating potential upward momentum. This development comes amid a broader altcoin rally, with XRP reaching highs not seen since May 2021. However, XRP must overcome key resistance levels to sustain its upward trend against Bitcoin, and broader market trends could impact its performance. Despite the optimism, the golden cross does not guarantee future gains, as XRP/BTC recently declined by 2.59%.
Bitcoin is nearing the $100,000 mark, with recent highs just shy of this milestone, as investor interest grows and options on U.S. exchange-traded funds boost sentiment. Michael Saylor, co-founder of MicroStrategy, highlighted the proximity to this psychological barrier. Meanwhile, MicroStrategy is accelerating its Bitcoin purchases, increasing its convertible notes offering to fund further acquisitions, aiming to raise $42 billion over three years. The company has become the largest institutional holder of Bitcoin, with 331,200 BTC acquired at a cost of $16.5 billion.