Crypto Price Analysis 1-15 BITCOIN: BTC, ETHEREUM: ETH, SOLANA: SOL, HEDERA: HBAR, CHAINLINK: LINK, APTOS: APT, INTERNET COMPUTER: ICP

The value of the cryptocurrency market increased by 2.29% to reach approximately $3.36 trillion, as markets bounced back. This surge was largely fueled by Bitcoin (BTC), which surpassed $97,000, marking a rise of more than 2% within the last day. Earlier in the week, Bitcoin dipped below $90,000, causing market turbulence and a significant drop among various cryptocurrencies. However, it quickly regained its footing, reclaiming important levels and currently trading slightly above $97,000.

Additionally, several other cryptocurrencies have experienced growth. Ethereum (ETH) has risen by almost 2%, aiming to reestablish its position above the $3,300 mark. At the same time, XRP has spiked approximately 11% as it moves through a critical phase in its legal dispute with the Securities and Exchange Commission (SEC). Furthermore, Solana (SOL), Dogecoin (DOGE), Cardano (ADA), Stellar (XLM), Toncoin (TON), Chainlink (LINK), and Hedera (HBAR) have all shown noteworthy increases in value.

A Look At The Altcoin Market

Over the last 24 hours, altcoins showcased a variety of patterns, as some experienced notable growth while others faced difficulty gaining traction due to heightened selling pressure. Among them, Ethereum (ETH) saw a substantial boost, climbing nearly 3% to surpass $3,200. Currently, Ethereum is being traded around the $3,230 level. This rise can be attributed to escalating demand from institutions for Ethereum staking and Layer2 solutions. Similarly, Dogecoin (DOGE) witnessed a nearly 6% increase due to a spike in open interest, suggesting growing speculative activity. Cardano (ADA) also surpassed expectations, trading above $1 with an almost 7% rise.

SEC Sues Elon Musk

The Securities and Exchange Commission (SEC) has taken legal action against Elon Musk, claiming he neglected to reveal his acquisition of more than 5% of Twitter shares within the specified time limit as required by law. The SEC argues that Musk’s late disclosure enabled him to buy additional shares at reduced prices, potentially saving him $150 million. The SEC aims to recover these gains, impose a fine, and secure a permanent ban on future violations of securities laws. In response, Elon Musk’s lawyer, Alex Spiro, has made a statement.

It seems clear that the SEC doesn’t have a legitimate claim against Musk, as his actions are seen as innocent by many, and this perceived legal action is widely regarded as a hollow attempt.

Gary Gensler Issues Dire Warning

current Securities and Exchange Commission Chair Gary Gensler has delivered a grave caution concerning the cryptocurrency sector, likening it to a time bomb waiting to explode with failures. He asserted that crypto’s speculative nature poses substantial risks for investors, and many initiatives lack a robust structure and are likely to collapse over time. During a recent conversation, Gensler made these remarks.

For more than four decades, I’ve navigated the world of finance. It’s fascinating to note that market dynamics are typically influenced by both the underlying financial health (fundamentals) and general investor mood or perception (sentiment). In my experience, there is no other field as heavily swayed by sentiment rather than fundamentals.

Gensler also highlighted the risk of growing pump-and-dump schemes, stating,

Among these 10,000 to 15,000 projects, a large portion may not make it. They resemble venture capital investments in their high-risk nature, meaning many won’t succeed. However, there are also a significant number of questionable operations like pump-and-dump schemes and others. Regrettably, during the recent years, some well-known figures such as Sam Bankman-Fried, CZ, and Do Kwon have been associated with projects that led to billions of dollars in losses for investors. These individuals are now serving jail time due to their activities.

Under the leadership of Gensler, the Securities and Exchange Commission (SEC) has been actively critical towards the cryptocurrency sector, advocating for stricter supervision due to concerns about transparency and investor protection. Notably, under his tenure, the SEC took over 100 enforcement actions against major players such as Coinbase. As Gensler prepares to step down from his position as SEC Chair, reports suggest he is making efforts to ensure his regulatory policies persist. A former SEC official, John Reed Stark, has indicated that Gensler has appointed experienced attorneys with a focus on cryptocurrency to senior positions within the agency, which could maintain a hardline enforcement stance even after Gensler steps down from his role as SEC Chair.

Bitcoin (BTC) Price Analysis

Over the last few trading days, Bitcoin (BTC) has bounced back robustly following a period of intense selling earlier in the week. The price dropped to $89,397 due to strong selling activity, but investors seized the opportunity and bought at lower prices, pushing it back above $90,000. This trend suggests traders are willing to take risks despite an upcoming release of the Consumer Price Index (CPI) data. The Federal Reserve’s hawkish stance in December, suggesting fewer interest rate cuts in 2025, has made market participants more sensitive to inflation figures. A higher-than-anticipated CPI reading might strengthen the Federal Reserve’s hawkish outlook and potentially exert downward pressure on BTC.

Bitcoin (BTC) is making an effort to recoup the losses it suffered last week, following a significant fall. On Monday (January 6), BTC soared past $100,000, gaining 3.99% to reach $102,228. However, the market mood shifted on Tuesday, causing Bitcoin to plummet by more than 5%, dipping below $100,000 and the 50-day Simple Moving Average (SMA) to $97,019. The price tumbled to an intraday low of $92,456 on Wednesday, sliding beneath the 20-day SMA as selling pressure increased. However, it rebounded from that level and ended the day at $95,121, marking a decrease of nearly 2%. The bearish trend continued on Thursday, with BTC dropping 2.53% to close at $92,710.

In contrast to the predominantly pessimistic outlook on Bitcoin (BTC), it experienced a recovery on Friday, marking an increase of 2.27% and closing at $97,818. However, the 50-day Simple Moving Average functioned as a formidable resistance level, causing BTC to lose momentum on Saturday, resulting in a slight decrease that brought it down to $94,452. A minor uptick was seen on Sunday, concluding the weekend on a hopeful note. The new week began with an intense wave of selling pressure, causing BTC to dive below $90,000 to a daily low of $89,397. Yet, it managed to recover and reclaim the $90,000 mark, ending the day at $94,492 – just a slight drop overall. The optimism returned to the market on Tuesday, causing BTC to climb by 2.19% over the 20-day SMA and settle at $96,556. Currently, BTC is experiencing a slight upward trend as investors aim to push it above the 50-day SMA.

Should Bitcoin surpass its 50-day Simple Moving Average (SMA), it might challenge the $100,000 mark once more, potentially leading to a bullish trend after Donald Trump’s inauguration.

Ethereum (ETH) Price Analysis

Ethereum (ETH) is attempting to regain the $3,300 mark following a rebound, having plunged to a daily low of $2,927 on Monday. Since January 7th, ETH has been trending downwards, experiencing an 8% drop that pushed it below its 20 and 50-day moving averages and the $3,500 price point, closing at $3,381. The decline continued on Wednesday, reaching a daily low of $3,217 before recovering to close at $3,327, resulting in a 1.62% decrease. Selling pressure escalated on Thursday, causing ETH to drop by more than 3% to $3,220. However, the price rebounded on Friday, climbing 1.45% to an intraday high of $3,321 before ending the day at $3,267.

As a researcher observing the Ethereum market, I noticed that on Saturday, Ethereum managed to inch up slightly to close at $3,283, with buyers maintaining control. However, the mood shifted on Sunday, causing Ethereum to dip 0.53%, ending the weekend at $3,226. By Monday, a bearish sentiment took over, pushing Ethereum below the $3,000 mark to an intraday low of $2,927. This temporary drop even dipped below the 200-day Simple Moving Average. However, smart buyers saw this as an opportunity and propelled the price back above $3,000. Ethereum closed Monday with a significant loss of almost 4%, at $3,137. On Tuesday, Ethereum showed resilience, rising nearly 3% to $3,226. As I write this, the current session shows a minor downtrend as both buyers and sellers are in a stalemate, fighting for control over Ethereum’s price movement.

If Ethereum aims to regain the $3,500 mark, it will encounter multiple obstacles. Initially, there’s a barrier at approximately $3,300. Overcoming this hurdle could lead to another resistance around $3,400, which coincides with the location of its 20-day Simple Moving Average (SMA).

Solana (SOL) Price Analysis

Over the recent trading periods, Solana (SOL) has shown signs of recovery as investors aim to push its price past $190 and towards the significant $200 mark. SOL experienced a bearish trend after it failed to surpass the 50-day Simple Moving Average (SMA), resulting in a 7.38% decline on Tuesday, ending at $202. The price then dipped further on Wednesday, briefly dropping below the 20-day SMA to an intra-day low of $188. However, it managed to bounce back above the 20-day SMA and close at $197. On Thursday, selling pressure intensified, pushing SOL below the 20-day SMA following a 6.33% drop, settling at $185. Despite this increased selling pressure, Solana experienced a recovery on Friday, peaking at an intra-day high of $193 before ending the day at $187.

Over the weekend, Solana (SOL) went through fluctuations as both buyers and sellers sought dominance. By Saturday and Sunday, the buyers managed to take charge, causing SOL to slightly increase and finish the weekend at approximately $188. However, on Monday, SOL fell sharply to a daily low of around $169 when the market sentiment turned negative. Despite this, shrewd buyers seized the opportunity, pushing SOL back above $180. By the end of Monday, SOL stood at $182, marking a nearly 3% decrease. On Tuesday, buyers re-entered the market, causing SOL to surge by 2.57%, reaching $187. As of now, SOL is up almost 1% as it attempts to surpass $190. If SOL can break through this barrier, it will aim for the 20-day Simple Moving Average and $200.

Hedera (HBAR) Price Analysis

As a crypto investor, I’ve noticed that Hedera (HBAR) has managed to surpass its 20-day Simple Moving Average (SMA) in today’s trading session, aiming to establish a position above the $0.30 mark. Unfortunately, on Wednesday, HBAR dipped below this 20-day SMA after reaching an intraday low of $0.266. However, the price bounced back from this level and closed at $0.285, resulting in a minor drop of 1.25%. The sellers remained dominant on Thursday, causing HBAR to decline by 5.56% to $0.269. Nevertheless, with the 50-day SMA serving as a dynamic support level, HBAR experienced a recovery on Friday, climbing over 4% to reach $0.281.

As an analyst, I observed that over the weekend, the price climbed higher on Saturday to hit $0.292, but failed to surpass the 20-day Simple Moving Average (SMA). Consequently, it dipped nearly 5% to $0.278 on Sunday. The market for HBAR exhibited significant volatility at the start of this week, with buyers and sellers vying for control. Buyers aimed to breach the 20-day SMA, while sellers sought to push HBAR below its support levels. This tug-of-war resulted in an intraday high of $0.289 and a low of $0.255 for HBAR. The cryptocurrency closed at $0.276, marking a 0.95% decrease. However, on Tuesday, the price rebounded by over 4%, reaching $0.287. Currently, in this session, HBAR has surpassed the 20-day SMA and is up almost 7%, trading around $0.307.

Chainlink (LINK) Price Analysis

Chainlink (LINK) has been stuck in a tight price range recently as investors aim to generate more buying power and move the cost above the 20-day Simple Moving Average (SMA). The coin’s price momentum has waned following a significant drop the previous week, causing LINK to dip below both the 20-day and 50-day SMAs on Tuesday. This decline resulted in a fall of more than 10%, pushing the price down to $21.38. The coin continued to slide on Wednesday, losing approximately 4% to reach $20.45. On Thursday, LINK dropped below the important $20 support level, falling almost 4% to close at $19.65. However, it managed to bounce back a bit on Friday, registering a gain of 3.03% and ending the day at $20.24.

Over the weekend, a bearish outlook emerged for LINK, as its value slightly dropped on Saturday and significantly declined by almost 2% on Sunday, falling below $20 to reach $19.83. The selling pressure intensified on Sunday, causing LINK to plunge to an intraday low of $17.87. However, the buyers stepped in to counter this decline, leading to a recovery that ended with LINK settling at $19.36, representing a 2.37% drop. A bullish sentiment resurfaced on Tuesday as LINK climbed almost 5%, reclaiming $20 and ending the day at $20.30. Currently, LINK is experiencing a slight uptick of more than 1% in the ongoing session, aiming to surpass its 20-day Simple Moving Average (SMA).

Aptos (APT) Price Analysis

On Tuesday, APT’s upward surge came to a sudden halt when it lost steam, peaking at $10.65 before sellers stepped in, causing a drop of over 5% to $9.65. The bearish trend strengthened on Wednesday when APT dipped below its 20-day Simple Moving Average (SMA), following a nearly 7% decrease, and closed at $9.01. Sellers continued their control on Thursday as APT fell below $9 and ended the day at $8.65 after a nearly 4% drop. However, with the 200-day SMA providing support, APT managed to bounce back on Friday, surging almost 6% to regain $9 and close at $9.14. Despite this recovery, it couldn’t break past the 20-day SMA and slipped back into negative territory on Saturday, experiencing a minor decline.

On Sunday, APT experienced a decrease, dropping by more than 3% to dip below $9 and close at $8.82. The negative outlook grew stronger on Monday when APT reached its lowest point of the day at $7.94, falling beneath both the 200-day Simple Moving Average (SMA) and $8. However, it managed to recover from this level, regaining $8 and ending the day at $8.46. On Tuesday, optimism returned for APT as it surged by 6.55%, moving past the 200-day SMA and closing at $9.01. Currently, in this session, APT is slightly down, with sellers aiming to push it below $9 again. Conversely, buyers will work hard to keep the price above $9 and attempt to surpass the 20-day SMA.

Internet Computer (ICP) Price Analysis

Last week saw a significant drop in Internet Computer (ICP), plunging beneath crucial resistance levels and moving averages. On Tuesday, its price dipped below the 50-day Simple Moving Average (SMA) and plummeted approximately 10% to $11.02. Sellers maintained control on Wednesday as ICP sank to a daily low of $10.37. However, it managed to rebound from this point and close at $10.87, resulting in a decline of 1.36%. The bearish trend strengthened on Thursday when ICP fell below the 20-day SMA, losing nearly 7% to reach $10.12. On Friday, it attempted to recover and peaked at an intraday high of $10.85; yet, it failed to surpass the 20-day SMA and ended the day at $10.35. The overall sentiment among traders became increasingly bearish during this period.

On Saturday, buyers maintained dominance, pushing ICP up by 1.26% to reach $10.48. However, it slipped back into a downtrend on Sunday, losing over 2% to close at $10.23. Pessimism grew stronger on Monday as ICP plunged to an intraday low of $9.31, falling below the crucial support level of $9.90. The price bounced back from this level and ended the day at $9.78, representing a 4.40% drop. But buyers reappeared on Tuesday, pushing ICP up by almost 5%, regaining the $10 mark and settling at $10.42. At present, in the ongoing session, ICP is seeing a rise of nearly 2% and trading around $10.42.

2025-01-15 12:14