Cryptocurrency markets are surging on the last trading day before the presidential inauguration.
Notable Statistics:
- IntoTheBlock data shows large transaction volume increasing by 6.4% and daily active addresses falling by 2.9%. Transactions greater than $100,000 are up from 11,601 to 12,233 in a single day. Exchanges netflows are down by 268%.
- Coinglass data reports 94,646 traders were liquidated in the past 24 hours for $285.01 million.
Notable Developments:
- 2025 To See Dogecoin ETF, Strategic Bitcoin Reserve, ‘MicroStrategy Of Ethereum,’ Predicts Crypto Hedge Fund
- EXCLUSIVE: How Donald Trump’s Crypto Plans Will Impact Bitcoin, XRP, Solana
- Bitcoin Miners Consolidate Power: 12 Firms Now Control 30% Of Network Hash Rate
Top Gainers:
Trader Notes: Bitcoin has reached the $105,000 mark, fueled by speculation that President-elect Donald Trump may announce a “Strategic” Bitcoin Reserve.
Economist Peter Schiff expressed concerns, hoping Trump won't compromise the country’s integrity just to benefit Bitcoin donors.
He warns that such a reserve could lead to higher inflation and a weaker economy.
Crypto chart analyst Ali Martinez pointed out that Bitcoin has broken out of a cup-and-handle pattern, suggesting a potential upside target of $276,400.
Crypto trader Stoic observed that Bitcoin has reclaimed a key level from the Dec. 18 sell-off, now 5% above the HTF range value.
He believes that if Bitcoin stabilizes, altcoins could have room to perform over the weekend.
Crypto trader Jelle highlighted a spot-driven rally that breached a key level, signaling strong momentum. He predicts that if Bitcoin closes the day around $104,738, the path will be clear for new all-time highs.
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