Hello everyone š Bitcoin has fallen to $82,247: what's next?
In the last 24 hours, BTC has fallen to $82,247 with a market capitalization of $2.85T and a dominance index of 60.82%. Bitcoin's fear and greed index is 10 (extreme fear).
š Altcoins are holding up! Despite the fall of BTC, altcoins have remained resilient - they barely reacted to the fall and even rose compared to BTC. Could this be a turning point?
š” Highlights: BTC partially closed the gap on the CME. IMB 1D $85,072 - $81,534 tested. Long positions will be considered if BTC consolidates above $89,460, confirming a potential reversal.
š” Today's focus: GDP data and labor market reports are key factors that could affect investor sentiment. Stay tuned!
Bitcoin has fallen another 9% overnight, reaching $87,000.
š As a result, the price has broken below the main liquidity block at $93,000, wiping out nearly all long traders from the market, with total liquidations reaching $1.5 billion.
š¼ The price has now touched the last key local support level at $87,000. Technically, thereās an 80% chance of a bounce from this level, as weāve seen a sharp decline without any pullbacks, market fear has hit an extreme 25, and overall sentiment has turned highly negative. These factors suggest a potential reversal to the upside.
š Current scenarios: šø $88,000 - $87,000 is the key zone to watch for a possible rebound. šø If the price fails to hold, a deeper drop to $80,000 - $75,000 could follow, as there are no nearby support levels.
For now, thereās no need to focus on the worst-case scenario. Letās wait for the marketās reaction at this level before drawing conclusions. ā”ļø
ā¼ļø The head of Bybit stated that a hacker took control of a specific Ethereum cold wallet and transferred all ETH in the cold wallet to an unidentified address.
Transferred 401,346 ETH ($1.13B) from the Bybit exchange to an unidentified wallet.
š¢ #BTCUSDT Liquidated Short: $12,250,429.3K at $100,209.65 š¢
BTC is approaching the important 100,000 USDT zone, where high levels of liquidity are concentrated. This may contribute to further price movement in this range. š„
šÆ BTC & ETH: Inflows Decline Recent days show a drop in BTC and ETH inflows. Meanwhile, investors are actively withdrawing ETH from exchanges to wallets, signaling potential long-term confidence.
The meme-coin saga tied to Argentinaās president has taken a new turn ā regulators are now involved.
š Solana is in the spotlight, as most of these questionable projects emerged on its blockchain. Meme tokens, AI agents, and other narratives fueled SOL's growth, but now they risk becoming its downfall.
š Solana's Risks: š» Retail outflows amid rising distrust š» Damaged ecosystem reputation š» Escalating FUD across media channels
If the negativity snowballs, Solana might face its own "black swan" event ā and that could give Ethereum a strong advantage as a more trusted platform for institutions.
Today the market is in full mood seeing that Dominance is dropping. If you have short term target you can book profit but if you want big profit then you need to hold for a little more time.
If you hold with long target, the market will come down again and your profit will go to loss again but after some time you will see a big amount of profit.
Now the decision is yours. Do what feels good to you
Michael Saylor Hint for buying BTC again and also posted on twitter that āMicroStrategy has acquired 2,138 BTC for ~$209 million at ~$97,837 per bitcoin and has achieved BTC Yield of 47.8% QTD and 74.1% YTD. As of 12/29/2024, we hodl 446,400 $BTC acquired for ~$27.9 billion at ~$62,428 per bitcoin. $MSTRā
As Bitcoin investors focus on a possible āJanuaryā where the financial asset will likely surge as the data resets, crypto.news will examine the topical nature of the topic as part of our weekly insights.
⢠Bitcoin fell more than 12% from its monthly highs to $94,830 as the Santa Claus rally failed. Bitcoin trading volume fell to $22 billion on Sunday, Dec. 29, from $41 billion the day before, according to CoinGecko.
⢠Historical data shows that Bitcoinās performance in January has been mixed, with only six out of the last 10 years seeing an increase, including a modest 0.62% increase this year. February, by contrast, was a stable month for Bitcoin, with only two losses in the same period.
Tether reports net profit of $5.2Billion in H1 2024 . If USDT is this much profitable and large then why everyone is scared and calling it illegal ? . The answer is > USDT past incidents . 2016 - 17 > Bitfinex hacked and USDT was in question for Reserve because Bitfinex & USDT both are from iFinex. . 2019 > New York Attorney General launched an investigation into Bitfinex and Tether - $850 Million Bitfinex loss cover up reveal - 74% backed by cash and securities . 2021 > Paid $18.5 million fine to NYAG for case settlement . Now, you might have understood why people are scared for USDT
Recently Coinbase delisted USDT from their exchange due to European Union restrictions on USDT.
Now the question is, should we sell USDT? In my opinion this news will not affect USDT much as this restriction is only for EU area. There is no problem in other area.
But keep your eyes and ears open so that you can immediately convert your USDT to another stablecoin if there is bad news.