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Crypto analyst Michaël van de Poppe predicts Bitcoin could soar to $500,000 in the current cycle, following its recent all-time high above $108,000. He notes that many altcoins are still in the accumulation phase, indicating potential for significant breakouts. Despite a recent pullback, analysts view this as a healthy correction, with strong inflows into Bitcoin ETFs suggesting sustained investor interest.
The Santa Claus trading window, starting December 24 and ending January 3, historically leads to a stock market rally, with the S&P 500 averaging a 1.3% gain and positive 79% of the time. Factors supporting a bullish outlook include December's strong performance, expected Fed interest rate cuts, and signs of oversold stocks.
Ethereum ETFs experienced a significant inflow of $151 million, continuing a 16-day positive streak, while Bitcoin ETFs added $494 million. Analysts speculate that a potential Trump administration could boost demand for staking in Ethereum ETFs, contributing to institutional interest. Despite recent inflows, both Ethereum and Bitcoin saw a 3% price drop, with ETH trading at $3,835.
A dormant whale wallet has stirred the cryptocurrency market by transferring 2.1 trillion PEPE tokens, valued at over $52 million, after 600 days of inactivity. This significant movement has analysts speculating on a potential price surge, with predictions suggesting PEPE could reach $0.00005 or higher if it breaks key resistance levels. The overall healthy crypto market, alongside rising Ethereum prices, further supports the optimistic outlook for PEPE's future.
Bitcoin has surged past $100,000, yet altcoins like XRP and Solana have struggled to keep pace, with Ethereum up only 69% this year compared to Bitcoin's 150%. Analysts predict an imminent altcoin season, driven by Ethereum's recent price rally and significant inflows into Ether ETFs. Solana is emerging as a strong competitor, attracting more developers and surpassing Ethereum in decentralized exchange trading volume, while regulatory clarity may further boost altcoin investments.
Bitcoin has reached a new all-time high of $106,000, yet skepticism persists among investors regarding the sustainability of this rally. Despite a 4% increase in demand from new investors compared to earlier this year, the market sentiment remains mixed, reflecting a long-standing cycle of optimism and doubt. Currently trading at $104,137, Bitcoin has seen a 6% rise over the past week.
Bitcoin's price has retreated to $104,000 after reaching a high of $108,000, amid mixed global economic signals and anticipation of the Federal Reserve's interest rate decision. Recent inflation data revealed UK inflation rose to 2.6% year-on-year in November, while Eurozone inflation increased to 2.2%. The UK also saw core inflation rise to 3.5%, indicating persistent price pressures, as construction output grew slightly by 0.2%.
A consensus is forming that the Federal Reserve should hold off on further interest rate cuts after a 25-basis-point move. Wall Street saw mixed results, with the Dow closing lower for the ninth consecutive session, a first since 1978. In corporate news, Microsoft significantly increased its Nvidia chip purchases, while Starbucks union workers authorized a strike. Morgan Stanley named Disney a top pick, and Salesforce announced plans to double its hiring for AI customer service agents.
US inflation has decreased this year, influenced by the owners' equivalent rent, which does not reflect actual consumer spending power. The Fed, having been slow to cut rates, is expected to proceed cautiously next year, especially amid uncertainties from potential sales taxes under President-elect Trump. Meanwhile, the UK may also lower rates gradually due to deflation in input producer prices, while the ECB's consumer price inflation figures remain stable and largely unreactive.
Chainlink's price has declined 13% to $27 after a three-day drop, reflecting broader cryptocurrency losses. Despite this, a whale has accumulated over 594,998 LINK tokens worth $17.3 million, signaling confidence in a potential recovery. The number of LINK holders continues to rise, now exceeding 688,000 addresses, as Chainlink secures its position in the DeFi space with partnerships and growing demand.
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