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#ReboundRally
Bitcoin recovers above 95k, can BTC retake 100k?

Bitcoin recovers from 92k to 95k. 

The Fed signaled to a more hawkish outlook in 2025. 

BTC ETFs recorded inflows last week despite price volatility. 

Miners produce fewer BTC than ETFs acquire. 

Bitcoin forecast – technical analysis 

Bitcoin rose to an all-time high of 108k a week ago, boosted by optimism surrounding a more crypto-friendly environment under Trump and on hopes of a Bitcoin strategic reserve. However, the price failed to hold this level, tumbling sharply to a low of 92k on Thursday after a more hawkish Federal Reserve. Can Bitcoin retake the key 100k milestone and eye fresh all-time highs? 

Powell the Christmas Grinch 

Last week, the Fed cut rates by 25 basis points as expected but projected just two 25 basis point rate cuts next year, fewer than the three cuts previously guided for. The central bank's hawkish outlook hit Bitcoin and other risk assets, including US equities, hard. Bitcoin fell 14%, slumping below 100k to 92k. While cooler-than-expected core PCE figures on Friday helped to pick Bitcoin off its low, the price trades at 96k at the time of writing, still below the 100k milestone. 

Yet despite this shift to the fundamental backdrop, several metrics suggest that the recent fall could have been a healthy pullback rather than something more sinister. 

Institutional demand vs miners production 

Institutional demand is showing signs of holding up even amid BTC price volatility. Over the past week BTC ETFs recorded inflows of $423.6 million or 4349 BTC. However, miners produced just 2250 BTC in the same period, almost half the amount of Bitcoin acquired by ETFs. 

This trend points to tightening liquidity in the Bitcoin market. While miners face post-halving challenges, Bitcoin ETFs absorb supply as institutional investors show commitment to Bitcoin as a long-term investment. So far, in December alone, BTC ETFs have recorded $5.5 billion in inflows, underscoring institutional confidence in Bitcoin after the US election. 

Should institutional demand remain strong and supply significantly weaker, this could drive prices higher.  

Data from CryptoQuant adds to the picture of restrained supply. The Bitcoin market has seen a massive drop in sell-side liquidity, which could indicate a supply shock is coming. On-chain analysis shows that the amount of Bitcoin readily available for sale has dropped to its lowest level since 2020. 

Only 3.397 million Bitcoins are available for sale across exchanges, miners, OTC desks, and GBTC, a drop of 678,000 BTC just this year. Shrinking supply creates a tighter market, particularly as demand remains robust. 

Bitcoin forecast – technical analysis 

BTC/USD broke out below its rising channel dating back to early November before finding support on the 50 SMA on two occasions. The price has rebounded from the 50 SMA, retaking the 95k round number. 

Buyers will look to extend the recovery to 100k, the psychological level and the lower band of the rising channel. A rise above this level opens the door to 108k and fresh all-time highs. 

Sellers will need to take out the 50 SMA in order to test 92k, the December low. A break below here creates a lower low and brings 90k into focus ahead of 85k. 

Bitcoin exchange reserves drop to lowest levels in years: CryptoQuant
Bitcoin exchange reserves have plummeted to their lowest levels in years, signaling increasing investor confidence in holding the cryptocurrency long-term.
Data from CryptoQuant reveals that more than 171,000 bitcoin have been withdrawn from major cryptocurrency exchanges since Donald Trump won the U.S. presidential election on November 5. This trend, reducing bitcoin's liquid supply, suggests investors are moving their holdings to cold storage, likely as part of a long-term strategy.

Exchange reserves have been in decline since 2021, reflecting a broader trend of long-term holding. According to CryptoQuant, reserves stood at about 3.2 million bitcoin in October 2021 and have now fallen to a multi-year low of 2.46 million coins.
Bitcoin exchange reserves have plummeted to their lowest level in years. Image: CryptoQuant.
Similarly, Glassnode data indicates that their illiquid supply metric—bitcoin held by long-term investors not actively trading—has risen by 185,000 bitcoin in the last 30 days, reaching an all-time high of 14.8 million bitcoin. This represents 75% of the current circulating supply of around 19.79 million coins.
Bitcoin illiquid supply has increased sharply over the past month. Image: Glassnode.
Despite a tightening supply, bitcoin fell about 2% below the $94,000 mark in the past 24 hours, significantly impacting traders, according to The Block’s Bitcoin Price Page. Coinglass data shows that 207,454 traders were liquidated over the past day, with total liquidations reaching $578.6 million. Bitcoin accounted for $90 million of these liquidations, primarily from long positions betting on the digital asset's continued upward momentum.
Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures. $BTC
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Bitcoin exchange reserves drop to lowest levels in years: CryptoQuant
Bitcoin exchange reserves have plummeted to their lowest levels in years, signaling increasing investor confidence in holding the cryptocurrency long-term.
Data from CryptoQuant reveals that more than 171,000 bitcoin have been withdrawn from major cryptocurrency exchanges since Donald Trump won the U.S. presidential election on November 5. This trend, reducing bitcoin's liquid supply, suggests investors are moving their holdings to cold storage, likely as part of a long-term strategy.
Exchange reserves have been in decline since 2021, reflecting a broader trend of long-term holding. According to CryptoQuant, reserves stood at about 3.2 million bitcoin in October 2021 and have now fallen to a multi-year low of 2.46 million coins.
Bitcoin exchange reserves have plummeted to their lowest level in years. Image: CryptoQuant.
Similarly, Glassnode data indicates that their illiquid supply metric—bitcoin held by long-term investors not actively trading—has risen by 185,000 bitcoin in the last 30 days, reaching an all-time high of 14.8 million bitcoin. This represents 75% of the current circulating supply of around 19.79 million coins.
Bitcoin illiquid supply has increased sharply over the past month. Image: Glassnode.
Despite a tightening supply, bitcoin fell about 2% below the $94,000 mark in the past 24 hours, significantly impacting traders, according to The Block’s Bitcoin Price Page. Coinglass data shows that 207,454 traders were liquidated over the past day, with total liquidations reaching $578.6 million. Bitcoin accounted for $90 million of these liquidations, primarily from long positions betting on the digital asset's continued upward momentum.

Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures. #BTC☀
#2024WithBinance

AI & Blockchain in GameFi for The Future

Consider a gaming world where each connection is as unique as one can paint it, each transaction being as safe as can be painted, and each player having a say on the future of the game. AI-based blockchain in GameFi are not just two technologies that can support one another but two that are changing the GameFi industry and shaping the future of gaming, earning, and governance.

Let’s explore the transformative prospects that lie ahead:

1. Hyper-Personalized Gaming Worlds

AI will progress to being able to elaborate stories that will change with the input from the players. The decisions made will always yield some sort of twist, making each playthrough experience a brand new experience. AI NPCs could turn into digital avatars of themselves; those whom a player meets act as guides to that individual or opponent, which increases interactions’ importance.

2. Decentralized Gaming Economies at Scale

The decentralised ledger function of blockchain shall grow to cope with these challenges of scalability in a novel way. Players will be able to freely transfer various objects that belong to a game, such as weapons or avatars, to other games. This will connect the games and form a metaverse. DEXs based on blockchain will allow players to trade different assets directly without disclosing the value to any counterparty. By analyzing players’ contributions to the game, their efforts, and their talents, AI will improve the system of reward structure.

3. AI-Driven Governance: The Rise of Game DAOs

Blockchain integration with AI in the context of decentralized autonomous Organisations (DAOs) will bring a brand new approach to how much players impact the development of the game. As much, it will help in the efficiency of proposals, so decision-making is found on data instead of favoring some players. AI is used to moderate forums and discussions, preventing negative and intolerant attitudes in game communities. AI will monitor gameplay trends, analyze player needs, and introduce solutions before issues arise.

4. AI and Blockchain in Esports

During gameplay, the AI provides analysis to the players, suggesting how the game is being conducted and offering tactics for better scoring. To ensure that the prizes issued will be transparent, that fraudulent activities will not thrive, and that match outcomes will be preserved on the blockchain. Through such platforms, players can compete in tournaments that are organized around the world without being constrained by geographic limitations.

5. The Metaverse Connection

AI will generate immersive environments with rich detail and adaptive designs. Players identities and avatars across the metaverse, ensuring seamless transitions between experiences. Blockchain-powered gaming will underpin land ownership, while AI will enhance interactivity within virtual spaces, allowing for unique creations and communities.
#AIAndGameFiBoom