Bitcoin, XRP, Dogecoin Move Down, Ethereum The Best Of The Bunch: 'Expecting True Breakout Before Christmas,' Announces Trader

Cryptocurrency markets are trading lower on Thursday as President-elect Donald Trump rang the bell at the New York Stock Exchange.

Cryptocurrency	Price	Gains +/-
Bitcoin BTC/USD	$99,666.97	-1.7%
Ethereum ETH/USD	$3,882.77	+1.8%
Solana SOL/USD	$228.16	-0.9%
XRP XRP/USD	$2.36	-3.2%
Dogecoin DOGE/USD	$0.404	-3.2%
Shiba Inu SHIB/USD	$0.00002804	-4%

Notable Statistics:

IntoTheBlock data shows large transaction volume increasing by 5.3% and daily active addresses falling by 11.9%. Transactions greater than $100,000 remained relatively flat while exchanges netflows are up by 308.9%.
Coinglass data reports 100,126 traders were liquidated in the past 24 hours for $290.48 million.

Notable Developments:

Top Gainers:

Cryptocurrency	Price	Gains +/-
Aave AAVE/USD	$359.71	+23.9%
Lido DAO LDO/USD	$2.27	+20%
Chainlink LINK/USD	$26.98	+12.9%

Trader Notes: With Bitcoin prices breaking the $100,000 mark, crypto trader Jelle sees a potential drop back to $97,000 from here. He added that this could be for scaring traders and then a "real breakout."

Jelle is expecting a "true breakout before Christmas — 2025 is going to be a crazy ride."

Would be classic #Bitcoin to drop back to $97,000 from here – make everyone scared as shit & then pump back for the real breakout

'muh dead cat bounce! 🥲' pic.twitter.com/V22GRQqWbX
— Jelle (@CryptoJelleNL) December 12, 2024

Crypto trader Javon Marks sees Bitcoin trading well above the $67,559 level, indicating a bullish setup.

The next target is $116,652, representing a potential 15% move higher. A breakout above this level could pave the way for further gains, with more than $165,000 as the subsequent target.

Crypto trader Nic predicts an "explosive BTC price action" as the 20-day Bollinger band bandwidth is at its lowest level in months. He advises, "Keep an eye out for an upside breakout above the upper band."

Read Next: