$Bitcoin (BTC.CC)$ hit a new all-time high of $107,822 according to Coingecko data on Monday, as bullish hopes are fueled by President-elect Donald Trump reportedly contemplating an executive order to establish a Strategic Bitcoin Reserve.
Cryptocurrency | Price |
|
Bitcoin (CRYPTO: BTC) | $106,240.24 | +3% |
Ethereum (CRYPTO: ETH) | $4,052.99 | +4% |
Solana (CRYPTO: SOL) | $217.53 | -1.5% |
XRP (CRYPTO: XRP) | $2.48 | +2.8% |
Dogecoin (CRYPTO: DOGE) | $0.4049 | +0.8% |
Shiba Inu (CRYPTO: SHIB) | $0.00002744 | -0.7% |
Notable Statistics:
IntoTheBlock data shows large transaction volume increasing by 2.9% and daily active addresses falling by 0.4%. Transactions greater than $100,000 remained relatively flat. Exchanges netflows are up by 255.2%.
Coinglass data reports 132,609 traders were liquidated in the past 24 hours for $492.98 million.
Notable Developments:
MicroStrategy Expands Bitcoin Holdings By 15,350 BTC Worth $1.5 Billion After Joining Nasdaq 100
Ethereum Price Soars Past $4,000: What Is Going On With ETH?
Trump-Backed World Liberty Financial's Purchases Trigger Strong Rally In These DeFi Tokens
Bitcoin ETFs Surge As King Crypto Hits $106,000
Top Gainers:
Cryptocurrency | Price | Gains +/- |
Virtuals Protocol (CRYPTO: VIRTUAL) | $3.09 | +17.6% |
Bitget Token (CRYPTO: BGB) | $3.44 | +13.2% |
Ondo (CRYPTO: ONDO) | $2.06 | +10.9% |
Trader Notes: Crypto Jelle highlights that Bitcoin is following the price action from Q4 in 2023.
He predicts Bitcoin could hit $115,000 before settling into a new range if the pattern persists.
#Bitcoin is still following the Q4-2023 fractal to the tee
Should push to ~115k before a new range is established, if this keeps playing out the same pic.twitter.com/D8nsc5AbpA— Jelle (@CryptoJelleNL) December 16, 2024
Stockmoney Lizards acknowledges Bitcoin's current all-time high but argues, "This is not the top." Citing the Satoshimeter at just 9, he believes significant upside potential remains.
Justin Bennett envisions the total cryptocurrency market capitalization climbing to $4.2–$4.3 trillion by year-end.
He forecasts Bitcoin to surge to $120,000–$125,000, with Ethereum surpassing $4,800. Bennett also warns that such highs might set the stage for a correction in early 2025.
Gert van Lagen, a technical analyst, observes that Bitcoin's current trajectory aligns with expectations, surpassing the gravity of its re-accumulation pattern.
With an estimated 2.5 months before a potential recession, he predicts Bitcoin could aim for $200,000 soon.
$BTC [1W] – Bitcoin is blowing off as expected with Long-term holders reaching Euphoria.
The gravity of the Re-accumulation pattern has proven to be transcended.
With an estimated 2.5 months before a recession begins to take hold, $BTC is on track to surpass $200k soon. pic.twitter.com/qMGFvnWxbU— Gert van Lagen (@GertvanLagen) December 16, 2024
Bitcoin Taps $106,000, Consolidates At $104,000: Why Is BTC Going Up?
Image: Shutterstock