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Despite a recent 19% price drop, Ethereum shows bullish signs with key metrics indicating strong investor confidence. The estimated leverage ratio remains high at 0.53, while funding rates are moderately positive at 0.01, suggesting continued price growth potential. Additionally, the Korea Premium Index indicates robust retail interest, and Ethereum fund holdings have risen since November 2024, reflecting institutional confidence in the asset.
Bitcoin is facing significant downward pressure as it trades below $100,000, with analysts warning of a potential drop to $80,000 or lower due to bearish patterns, holiday liquidity challenges, and macroeconomic factors. Despite the negative sentiment, long-term investors may find opportunities for dollar-cost averaging at current levels. The market's extreme fear could signal a potential bullish rebound, but volatility remains a concern as year-end approaches.
The cryptocurrency market is experiencing a significant downturn, with Bitcoin dropping below $94,000 and major altcoins like Ethereum and Dogecoin also facing steep losses. This sell-off follows the Federal Reserve's cautious monetary policy announcement, which has spooked investors and tightened global liquidity conditions. The total market capitalization has fallen to $3.3 trillion, marking the lowest level in nearly a month, as market sentiment shifts towards neutrality.
Bitcoin starts Christmas week facing potential bearish trends, with a significant dip risk as support weakens. Analysts warn of a possible drop to $74,000, while macroeconomic factors and liquidity concerns could lead to a $20,000 decline. Despite negative sentiment, a buying indicator suggests a favorable moment for dollar-cost averaging strategies.
AUD/USD fell to a two-year low of 0.6251, down 1.75% last week, following a hawkish Fed interest rate cut and a MYEFO report indicating larger Australian budget deficits. The RBA's upcoming meeting minutes are expected to reflect a dovish tone amid weaker economic activity, with a 58% chance of a rate cut in February. A break below the 0.6170 support level could lead to a test of the 0.6000 mark, while a rebound above 0.6350 may signal easing downside risks.
Investor Anthony Pompliano remains optimistic about Bitcoin's future, predicting 2025 will be a pivotal year for the cryptocurrency. He cites ongoing money printing and Federal Reserve interest rate cuts as key factors that will drive capital into the market, making Bitcoin less risky for large investors. As Bitcoin's market cap grows, more institutional capital is expected to flow into the asset, potentially pushing prices higher.
Dogecoin (DOGE) has plummeted 25% in two days, raising concerns it may fall below $0.20 amid a broader crypto market correction. Analysts highlight a key support level at $0.22076, while predictions suggest a potential rebound, with forecasts of reaching $1.21 by March 2025.
Solana (SOL) has seen its price plummet from $263 to $183 amid a market downturn triggered by the Federal Reserve's cautious outlook and interest rate cuts. Despite this decline, technical indicators suggest a potential rebound, with signs of upward momentum and a bullish MACD crossover. Investors are closely monitoring whether SOL can regain its footing above the critical $200 support level as market conditions evolve.
Bitcoin's price recently dipped to around $92,000 following a US Federal Reserve rate cut but has since rebounded above $97,000. Analyst Tony Severino suggests that if historical patterns hold, Bitcoin could surge to $178,000, contingent on overcoming resistance levels between $97,500 and $99,800.
US Senator Cynthia Lummis has proposed granting the Federal Reserve the authority to hold Bitcoin as part of the nation's official reserves, aiming to enhance financial stability and counteract national debt. She suggests purchasing 1 million BTC over five years, establishing a Strategic Bitcoin Reserve, despite current legal restrictions. Lummis argues that Bitcoin's long-term growth potential makes it a valuable asset compared to the declining value of the US dollar.
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