Is Bitcoin About to Bounce Toward $100K? A Few Signs Indicate Positivity

View in browser Is Bitcoin About to Bounce Toward $100K? A Few Signs Indicate Positivity Hello, everyone! Happy New Year! The team here at CryptoPotato wishes you a tremendously awesome 2025 filled with good times, happiness, and nothing but green market candles! That said, the current reality is a bit far away from green candles as Bitcoin's price attempted to breach above $96,000 but was stopped abruptly. At the time of this writing, the leading cryptocurrency is found below $94,000, although there are some signs of positivity creeping up.  First, the stablecoin reserves on Binance - the world's leading crypto exchange - are currently standing at over $31 billion. This marks a massive recovery and growth, as they were only $7 billion in June 2023, for comparison.  Some popular analysts have interpreted this as potentially bullish because it could support sustained demand and bolster the market's performance.  It's also important to note that investors are moving their assets out of centralized exchanges and into cold wallets. This is typically associated with reduced immediate selling pressure and higher confidence in the market condition.  In less than twenty days, President-elect Donald Trump is expected to officially step into his position and the industry is eagerly anticipating whether or not he will honor the promises he made during his election campaign. Price Action Total Mkt Cap: $3.41 Trillion | 24HR Liquidations: $157M | Sentiment: Greed  Thanking our Newsletter sponsor: Credefi: the ultimate RWA gateway. Connecting crypto lenders with SME borrowers since 2021. Discover predictable yields on your idle crypto assets. Bitcoin The primary cryptocurrency had a painful end to an otherwise bullish year as it dropped from its latest all-time high of $108,300 to $92,000 within days in the middle of December. Although it bounced off initially and neared $100,000 on a couple of occasions, the bears were quick to intercept the moves and didn't allow any further gains. Just the opposite, BTC started to lose value in the following days, which culminated on Monday with a plunge to $91,300. This became its lowest price tag in just over a month. The bulls managed to intercept the move and drove BTC to $95,000 later that day and up to $96,000 on Tuesday. However, this was another false breakout, and the cryptocurrency has been down by nearly three grand since then to just over $93,000. Its market capitalization has slumped beneath $1.850 trillion on CG, while its dominance over the altcoins remains strong at 54.3%. Altcoins The alternative coins didn't enjoy the last days of 2024 either, and the beginning of the new year is rather familiar. Ethereum has lost nearly 2% of value and is well below $3,400. Similar price drops are evident from SOL, DOGE, ADA, AVAX, TON, and DOT. Even more painful declines are evident from Chainlink, SUI, HBAR, and APT. In the case of LINK, the price drop is almost 5%, which has pushed it to under $20. In contrast, XRP has finally charted a minor increase after a tough week, while VIRTUAL, OM, and XMR have gained around 5-7% each. The total crypto market cap has shed about $30 billion and is down to $3.4 trillion on CG. Best Performers Tokenize Xchange (TKX) +21.6% Stellar (XLM) +9.2% Pudgy Penguins (PENGU) +8.9% Worst Performers Pepe (PEPE) -8.6% Bonk (BONK) -7.7% Hyperliquid (HYPE) -8.3% The Crypto News You Can't Miss Bitcoin (BTC) is consolidating between $94,000 and $92,000, but investors are moving their assets out of exchanges. Read the full story. After a brief hiatus, a notorious "Blockchain Bandit" has re-emerged as the year ends, consolidating a staggering 51,000 ETH, valued at approximately $172 million, into a single multisig wallet. Read the full story. The AI16Z token saw 380% growth over the last month, prompting plans for an AI-focused L1 blockchain to expand its use cases. Read the full story. Binance's record $31 billion reserves and institutional Bitcoin adoption reflect optimism for 2025. Read the full story. Your Daily Crypto Did You Know Did you know that Ethereum's move to Proof of Stake (PoS) in 2022 reduced its energy consumption by over 99%? CryptoPotato 39 Ludgate Hill, London United Kingdom You received this email because you signed up on our website or made purchase from us. Unsubscribe