Only time will tell if Donald Trump’s memecoin was a good move in his plan to push crypto during his upcoming US presidential term.
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Crypto trading volume on centralized exchanges hit a new record in December, the same month Bitcoin breached $100,000 and clocked a new all-time high.
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A crypto analyst says we are yet to see the “Santa rally” the market has been hoping for after $1 billion was liquidated in the crypto markets in just 24 hours.
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The pullbacks in the crypto market will be a “buy a dip” scenario for “much longer than everyone expects,” according to Syncracy Capital co-founder Daniel Cheung.
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A crypto analyst says that the market “could be approaching euphoria territory” with the significant amount of XRP longs “being reloaded” as the price retraces.
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Swyftx lead analyst Pav Hundal says that an “exuberant move” from Bitcoin is needed to kick off the highly anticipated altcoin season.
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Almost $180 million in short positions in Bitcoin have been wiped as it hit a new all-time high, with an analyst saying it is “meaningful” that it is driven by spot demand.
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Crypto analysts suggest a Trump victory could give the crypto market a “dopamine hit,” but with considerable volatility already priced in, traders should remain cautious.
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An analyst warns that a lower CPI could squeeze Bitcoin short sellers, while a higher-than-expected CPI might lead to a Bitcoin sell-off.
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Bitcoin active addresses are declining due to a large amount of the market being “gobbled up” by institutional cash, says one analyst.
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