SUI, BGB, ENA and VIRTUAL show strength as Bitcoin looks for direction

December 22, 2024 Coin Telegraph

Bitcoin

Bitcoin’s recovery toward $100,000 could attract buyers to SUI, BGB, ENA, and VIRTUAL.

Bitcoin (BTC) is down roughly 8% for the week, but a positive sign is that the bulls aggressively purchased the weekly lows. After the recovery, analysts remain divided on the next directional move. Some expect the correction to deepen, while others anticipate the uptrend to resume.

Bitcoin’s rebound on Dec. 20 failed to attract investors to the United States spot Bitcoin exchange-traded funds. Farside Investors data shows outflows of $617.9 million on Dec. 19 and $277 million on Dec. 20 from the ETFs, suggesting profit booking by traders.

Crypto market data daily view. Source: Coin360

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ETH, LINK, AAVE and BGB move higher as Bitcoin inches toward new all-time high

December 15, 2024 Coin Telegraph

Aave

Bitcoin bulls are attempting to push BTC price above teh $104,088 all-time high, and charts suggest ETH, LINK, AAVE and BGB will be the first to breakout.

Bitcoin (BTC) recovered sharply from the weekly lows and is charging toward the all-time high of $104,088. VanEck expects the cryptocurrency bull market to hit its first peak in the first quarter of 2025. After that, the asset manager anticipates a 30% pullback in Bitcoin and a sharper retracement of up to 60% in altcoins. The recovery is expected to begin in fall, with “major tokens regaining momentum and reclaiming previous all-time highs by the end of the year.”

Another bullish voice was that of Bitcoin mining industry researcher Danny Marques, who studied Bitcoin’s three previous bull cycles. Marques believes that Bitcoin could reach between $173,646 and $461,135 in 2025, barring any macro deterioration like 2020.

Crypto market data daily view. Source: Coin360

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Bitcoin price push through $68K adds strength to SOL, DOGE, RUNE and BGB

October 27, 2024 Coin Telegraph

Bitcoin

Bitcoin’s bounce back to $68,000 raises the chance of a rally in SOL, DOGE, RUNE and BGB.

Bitcoin (BTC) is down just over 2% this week, but a positive sign is that the buyers have not allowed the price to sustain below $65,000. That started a recovery, pushing Bitcoin above $67,500 on Oct. 27. Kraken analysts believe that Bitcoin’s “trend should remain constructive” as long as Bitcoin stays above $66,500.

However, not everyone is bullish on Bitcoin’s prospects in the near term. Crypto analyst Luca said in a post that Bitcoin could witness “another flush to 60K,” before a local bottom can be confirmed.

Crypto market data daily view. Source: Coin360

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Bitcoin’s rise above $62,000 could pull APT, WIF, FTM, and BGB higher

October 7, 2024 Coin Telegraph

Bitcoin’s rise above ,000 could pull APT, WIF, FTM, and BGB higher

Aptos

Bitcoin’s recovery above $62,000 is having a positive impact on altcoins, boosting prospects of a rally in APT, WIF, FTM and BGB.

Bitcoin (BTC) is trying to close the week above $62,500, well above the intra-week low of just under $60,000. This suggests buying at lower levels. Although the start to October, generally the strongest month of the year, has been slow, analysts expect things could pick up going forward.

One positive for the cryptocurrency markets is that the CME Group’s FedWatch Tool is pricing in a 97% probability of the Federal Reserve cutting rates by 25 basis point in their Nov. 7 meeting. Expectations are that a rate cut would boost a risk-on sentiment.

Crypto market data daily view. Source: Coin360

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