Over the weekend, I observed that Bitcoin (BTC) dipped below $98,000 but has since recovered, pushing its price above $99,000 and currently hovering around $99,100. As a bullish sentiment prevails, investors are aiming to push BTC back towards the $100,000 mark. In the last 24 hours, Bitcoin has experienced a slight increase of more than 1%, while over the past week, it’s seen nearly a 6% gain. The markets seem eager to build momentum and kick off the new year on a high note.
Although Bitcoin initially saw growth, the overall cryptocurrency market is still showing a blend of outcomes. For instance, Ethereum and Ripple have experienced minor gains, while Solana and Dogecoin are currently experiencing small losses, around 1%. However, it’s worth noting that Chainlink, Cardano, Toncoin, Stellar, Polkadot, Uniswap, and Litecoin have seen significant increases.
Ripple CEO Hails Pro-Crypto Congress
Brad Garlinghouse, CEO of Ripple, has praised this U.S. Congress as the most supportive of cryptocurrency in history, increasing hopes for clear regulation in the crypto and blockchain sectors. The pro-crypto Republicans currently hold a slim majority in both the House (219-215) and Senate (53-47). However, last year’s vote on SAB 121 demonstrated bipartisan interest in cryptocurrency, as it revealed that while there is resistance to crypto and blockchain technology among U.S. policymakers, even young Democrats were not fully on board, with Anthony Scaramucci noting that nearly all Democrats under the age of 60 voted against the bill.
The ongoing SEC case against Ripple continues to garner attention as the deadline of January 15th approaches. Financial analysts anticipate that the SEC may submit its initial brief for an appeal by this date, just days before Chair Gary Gensler’s departure from office. As per former SEC attorney Mark Fagel, it is possible for the SEC to initiate the appeal during Gensler’s tenure but subsequently withdraw it once a new administration takes over.
For the time being, the case remains under appeal, which typically lasts around a year. However, it’s worth noting that a new government could potentially choose to withdraw the appeal. While this hasn’t happened in the past, it’s theoretically possible, if not probable.
Revising the rules at the Securities and Exchange Commission (SEC) might allow for a decision on appeals to no longer rest solely with the Chair, but instead require a collective vote among the agency members, thereby ensuring a more democratic process in deciding whether an appeal should proceed or be withdrawn.
Michael Saylor Hints At Monday BTC Purchase
On January 5th, Michael Saylor, founder of MicroStrategy, shared a Bitcoin (BTC) price chart from his tracking website. Historically, Saylor shares such charts prior to buying BTC the next day. Interestingly, he posted the same chart on December 29th, and MicroStrategy acquired 2,138 BTC on December 30th. The company plans to continue purchasing more BTC as part of its ’21/21′ strategy, aiming to finance a $42 billion Bitcoin acquisition by raising $21 billion through equity and $21 billion via fixed-income securities.
What’s In Store For Bitcoin (BTC) In 2025?
2024 saw Bitcoin (BTC) shine in the crypto world, sparking excitement across markets. Experts are positive about the future, believing that 2025 could bring regulatory clarity, technological innovations, and increased institutional investment. In fact, BTC more than doubled its market value last year, and other significant cryptocurrencies also experienced impressive growth.
2024 saw a remarkable surge in the cryptocurrency market, as its total value more than doubled throughout the year. Carrying this success into the present, we’ve begun 2025 on an optimistic footing, with all significant tokens experiencing gains of up to 18% within just one day.
It’s anticipated that international regulations will significantly impact Bitcoin’s development. Countries such as Canada, China, regions within the Middle East, and the European Union are making efforts to loosen restrictions and establish welcoming conditions for cryptocurrency expansion. Additionally, a pro-cryptocurrency government in the United States is poised to contribute significantly to global crypto growth due to increased institutional participation and the potential approval of Bitcoin ETFs.
2025 is anticipated to witness substantial developments in technology, particularly blockchain, making it more applicable and widely used. Areas such as artificial intelligence are also projected to expand significantly, fostering creativity. Experts have also shared their forecasts regarding BTC for 2025. While some believe the leading cryptocurrency could climb up to $150,000 by year-end, others speculate it might even touch $200,000.
Bitcoin (BTC) Price Analysis
During the initial weekend of the new year, Bitcoin (BTC) showed only modest fluctuations, yet it managed to avoid significant selling pressure. Currently, BTC’s price activity is showing slight improvements as bulls aim for the $100,000 mark. Analysts suggest that BTC is in a period of consolidation and are seeking a trigger event to push prices upwards. Some analysts anticipate that Donald Trump’s inauguration could positively impact prices. However, the initial enthusiasm surrounding a pro-crypto administration has subsided, as markets now wait to see what tangible actions such an administration will take.
On Friday (December 27), Bitcoin (BTC) fell below its 50-day Simple Moving Average, reaching a low of $94,241 before bouncing back on Saturday to reclaim the $95,000 mark and close at $95,077. The cryptocurrency saw a decline of nearly 2% on Sunday, ending the day at $93,477. Monday saw significant volatility in BTC as both buyers and sellers fought for control. In the end, sellers emerged victorious, causing Bitcoin to drop almost 1% and close at $92,625. A bullish sentiment returned on Tuesday, pushing BTC up to a high of $96,159, but it failed to surpass its 50-day SMA and finished the day at $93,383 with an increase of 0.82%.
On Wednesday, buyers kept the upper hand as Bitcoin saw a slight rise of more than 1%, closing at $94,373. Optimism grew on Thursday when Bitcoin jumped nearly 2.6% and surpassed $95,000 to close at $96,823. As optimism continued, Bitcoin breached its 20-day and 50-day moving averages on Friday following a rise of over 1%. The price remained stable over the weekend, with only minimal growth. However, buyers managed to keep sellers at bay, resulting in Bitcoin ending the weekend at $98,312. In the current trading session, Bitcoin has risen by 1.14%, hovering around $99,500 as buyers aim for the $100,000 mark.
Bitcoin may encounter significant resistance at around $100,000. If the price fails to hold at this point and sellers regain control, Bitcoin might slide down to its support zone of approximately $90,000. Conversely, if Bitcoin manages to surpass $100,000, it would be headed towards its record high. Breaking through this level could potentially signal the start of another bullish trend.
Ethereum (ETH) Price Analysis
Ethereum (ETH) surpassed its 20-day and 50-day Simple Moving Averages (SMAs), climbing above $3,500, marking a breakout from its recent price range. Following a significant decrease of nearly 5% on Boxing Day, ETH dropped beneath the 50-day SMA, ending at $3,333. Attempts to recover were made on Friday as ETH reached an intraday peak of $3,436. However, it lost steam after this level and dipped to $3,330. Ethereum rebounded over the weekend, rising by 2.15% on Saturday, settling at $3,402. Yet, it slipped back into negative territory on Sunday, falling by 1.46% and ending at $3,352.
ETH experienced significant fluctuations on Monday due to a tug-of-war between buyers and sellers for dominance. Despite this, the buyers managed to prevail slightly, pushing ETH up to $3,558. On Tuesday, ETH reached an intraday peak of $3,448 but lost steam, dropping to $3,333, resulting in a 0.74% decrease. The market mood shifted on Wednesday as buyers re-entered the scene, causing a 0.69% rise and setting ETH at $3,356. The bullish trend strengthened on Thursday as ETH climbed almost 3%, settling at $3,452. By Friday, ETH exceeded $3,500 and both the 20-day and 50-day Simple Moving Averages, resulting in a 4.51% growth and closing at $3,607.
On Saturday, buyers maintained their grip, causing Ether (ETH) to rise by 1.37%, reaching $3,657. But on Sunday, it slipped back into a decline, falling by 0.61% to $3,634. As of now, the ongoing session finds ETH slightly increasing as both buyers and sellers are vying for control.
Solana (SOL) Price Analysis
On Saturday, December 28th, Solana (SOL) saw a notable rise of approximately 6.12%, pushing its value beyond $190 to reach $195. However, it reversed course on Sunday, dipping nearly 3% and settling at $189. The following Monday was marked by significant fluctuations in SOL as both buyers and sellers battled for control. In the end, buyers emerged victorious, causing SOL to rise by 0.72%, reaching $191. Tuesday saw SOL reach an intraday high of $199, but it subsequently lost momentum, dropping to $189, representing a decrease of more than 1%. On Wednesday, SOL experienced a resurgence in buying activity, leading to an increase of 2.62%, pushing its value up to $194.
On Thursday, bullish enthusiasm significantly boosted due to SOL’s leap beyond $200 and the 20-day Simple Moving Average (SMA), marking a rise of more than 7%, ending at $208. Buyers maintained control on Friday as SOL climbed nearly 5% to reach $217. However, encountering resistance at $220, SOL slowed down on Saturday and experienced a minimal decline. On Sunday, selling pressure escalated as SOL dipped by 1.52%, settling at $213. Currently, buyers aim to regain momentum and surpass the $220 mark with SOL showing an increment of slightly more than 1%.
Dogecoin (DOGE) Price Analysis
Over the past weekend, Dogecoin (DOGE) experienced a bearish trend, falling nearly 3% to close at $0.314. On Monday, there was a minor dip as sellers maintained dominance. However, on Tuesday, DOGE bounced back slightly, rising by 0.89% to reach $0.316. Buyers took charge on Wednesday, causing the price to go up by 2.50%, moving to $0.324. Dogecoin continued its upward momentum on Thursday, increasing by 4.35% and reaching $0.338.
From my perspective as an analyst, I observed a significant increase in bullish sentiment towards Dogecoin (DOGE) on Friday, propelling its growth by over 12% and surpassing the 20-day Simple Moving Average (SMA), settling at $0.379. The buying pressure remained strong on Saturday, with DOGE registering a nearly 4% increase and moving beyond the 50-day SMA, closing the day at $0.394. However, Sunday saw a reversal in fortune for DOGE, falling over 3% to reach $0.382. As of now, during this session, sellers appear to be exerting control, aiming to push Dogecoin below its 50-day SMA.
Ripple (XRP) Price Analysis
Starting from early December, Ripple (XRP) was moving in a descending trend, reaching a low of $2.09 on Sunday, 29th December. The price dipped further by nearly 2% on Monday, closing at $2.05. However, it began to recover on Tuesday, witnessing a growth of 1.23%, and ending the day at $2.08. A strong bullish feeling emerged quite significantly on Wednesday as XRP surged almost 12%, crossing above its 20-day Simple Moving Average (SMA) and settling at $2.32. The optimism around XRP started to fade a bit on Thursday, approaching the resistance level of $2.40. Consequently, it saw an increase of slightly more than 3%, closing at $2.40.
On Friday, I witnessed my XRP investment surpassing $2.40 after a 2.21% climb, reaching $2.45. Yet, come Saturday and Sunday, sellers re-entered the market, causing a 1.35% drop on Saturday and another 0.90% decrease on Sunday. Consequently, XRP dipped below $2.40 and ended at $2.39 for the weekend. Today, I’m seeing a nearly 1% decline as buyers seem determined to push the price even lower.
Injective (INJ) Price Analysis
On Wednesday, Injective (INJ) broke through significant resistance levels and moving averages, following a surge in its price that began after it hit an intraday low of $19.03 earlier in the week. The prior week had seen INJ start with losses, dropping by 1.50% from an intraday high of $22.68. The downward trend continued on Tuesday, with INJ falling more than 2% to $19.59. However, sentiment shifted in favor of INJ on Wednesday as its price increased nearly 5%, reaching $20.52. The bullish momentum carried over to Thursday, with buyers driving up the price by 5.76%, pushing it to $21.70.
On Friday, optimism surrounding INJ grew significantly as it surpassed both its 20-day and 200-day moving averages, closing at $23.03 following a 6.16% gain. There was a slight dip in momentum on Saturday, with INJ rising 2.41% to $23.59. However, the price soared by 7.65% on Sunday, reaching $25.39. Currently, buyers are attempting to drive INJ above its 50-day moving average, with the asset up nearly 2% in today’s trading session.
Bittensor (TAO) Price Analysis
On Tuesday, Bittensor (TAO) dropped below $450, losing 2.47% to close at $440. However, it quickly regained momentum on Wednesday, rising nearly 11% to reach $489, just shy of the 20-day Simple Moving Average (SMA). Buyers maintained control on Thursday as TAO surpassed both the 20-day SMA and $500, closing at $521 after a 6.61% increase. On Friday, TAO climbed above its 50-day SMA following a nearly 6% rise, peaking at an intraday high of $571 before settling at $552.
On Saturday, buyers maintained dominance, pushing TAO up to a peak of $586. Yet, their momentum waned after reaching this point, causing the price to fall to $559 following a 1.38% rise. By Sunday, TAO experienced minimal growth, closing the weekend at $563 on an optimistic note. However, during the ongoing trading session, TAO has dipped again, losing nearly 2.50%, with sellers aiming to push it below its 50-day Simple Moving Average (SMA).
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2025-01-06 13:44