Texas and Oklahoma are leading the charge in integrating Bitcoin into public finance with proposed strategic reserve bills aimed at utilizing BTC for state funds. The momentum for Bitcoin reserves
The Bitcoin price has recovered above $97,000, providing a bullish outlook for the flagship crypto. Despite this development, BTC traders still look apprehensive as their strategy suggests they are still bearish on the current price action. Bitcoin Traders Turn Bearish Following Price Recovery In an X post, crypto analyst Ali Martinez revealed that Bitcoin traders have turned bearish despite the price recovery above $97,000. The crypto analyst mentioned that the percentage of traders on Binance betting BTC will rise has declined from 66.35% to 55.22% over the past 24 hours. Related Reading: Analyst Says Dogecoin Has Entered Another Bull Cycle, Puts Price Above $20 This development is significant as these Binance traders have a track record of being right most of the time. While most traders (55.22%) are still longing BTC, the decline in those betting on a rise suggests that there is the possibility that the recent price recovery is just a relief bounce and not a bullish reversal. The Bitcoin price has recovered above $97,000 after dropping to below $90,000 two days ago. This recent rally could pave the way for the flagship crypto to reclaim the psychological $100,000 price level. Crypto analyst Jelle is confident that this could happen soon, as he stated that a price breakout above $97,000 could lead to new highs for Bitcoin. However, there is still a lot of market uncertainty, which could explain why some of these Bitcoin traders are choosing not to bet on a further rally despite the recent price recovery. Recent macro data have suggested that the Federal Reserve is unlikely to implement as many quantitative easing (QE) policies as compared to last year. This is bearish for the Bitcoin price since investors could become more skeptical about investing in this risk asset. On the other hand, Donald Trump’s incoming administration provides some optimism for market participants since the US president-elect has promised to create a Strategic Bitcoin Reserve, which would lead to greater adoption of BTC. BTC’s Market Structure Has Changed Crypto analyst Trader Tardigrade also provided a bullish outlook for the Bitcoin price. In an X post, he stated that Bitcoin has shifted the market structure from a downtrend to an uptrend. He explained that when BTC was in a downtrend with lower highs and lower lows, it created an equal high, signaling a “change of character.” Related Reading: Analyst Who Predicted Bitcoin Price Crash To $89,000 Reveals Where BTC Is Headed Next Now, Bitcoin has broken through the resistance to form a higher high. According to Trader Tardigrade, if BTC maintains a higher low at the support/ resistance flip level of $96,000, it could start the bull run again. The analyst’s accompanying chart showed that the flagship crypto could reclaim $100,000 and then rally to new highs. At the time of writing, the Bitcoin price is trading at around $97,300, up over 2% in the last 24 hours, according to data from CoinMarketCap. Featured image created with Dall.E, chart from Tradingview.com
The cryptocurrency market experienced significant volatility this week, with XRP showing remarkable resilience, inching closer to its all-time high amidst a broader rally fueled by positive economic signals. XRP’s recent
XRP is now less than 10% away from an all-time high as Bitcoin hovers around $100,000 and Solana and Dogecoin hit weekly price peaks.
The crypto data firm CoinGecko published its 2024 annual crypto industry report on January 15. The report reflected on major events experienced in the crypto markets last year and pointed out metrics, including the industry’s entry into the fourth crypto market bull cycle, the total crypto market capitalization, spot trading volumes, DEX volumes, and BTC dominance. The report highlighted the beginning of the fourth crypto bull cycle, which began around March 2024. CoinGecko mentioned the approval of the U.S.-based Bitcoin and Ether spot ETFs by the U.S. Securities and Exchange Commission in January and May, respectively. The report also highlighted the April BTC halving, which reduced mining rewards to 3.125 BTC. The report also pointed out other policy changes that fueled the market’s momentum, especially during the last quarter of 2024. CoinGecko explained that President Donald Trump’s presidency was a major trigger for crypto’s new highs at the end of the year, including BTC’s new all-time high of over $108,000. The report further noted the multiple rate cuts initiated by the Federal Reserve since September 18. The Fed initiated 3 interest rate cuts in 2024, with the September 18 rate cut at 50 basis points and the November and December rate cuts at 25 basis points each. Coingecko report outlines market cap and BTC dominance 🚨 BREAKING 🚨 CRYPTO MARKET HAVE ADDED $1.58 TRILLION IN 2024. THE LARGEST INFLOW SO FAR 🔥 pic.twitter.com/lTkF1GMDnX — Ash Crypto (@Ashcryptoreal) January 1, 2025 The CoinGecko 2024 annual report revealed that the total crypto market capitalization doubled in 2024, reaching $3.9 trillion at the end of the year. The report highlighted that the rise was over 97% higher than 2023’s $1.09 trillion. The amount was also about 45% more in Q4 compared to Q3. The total crypto market has since corrected, standing at $3.46 trillion at the time of publication. The report further mentioned that Bitcoin dominance grew in 2024, reaching 54% by the end of 2024, accounting for more than half of the crypto market cap. The coin’s dominance has increased this year, reaching over 56% at the time of publication. Altcoins, including ETH, BNB, SOL, USDT, and XRP, accounted for 11.92%, 3.02%, 2.69%, 4.07%, and 3.48%, respectively. CoinGecko confirmed that while BTC dominated the crypto market in 2024, it had a slow rise in Q4, only attaining a 0.9% rise in dominance. XRP was still the biggest gainer in dominance, increasing by 3.5% in Q4. The report also pointed out Dogecoin’s gains in Q4, overtaking USDC to take the 7th place among all crypto. The analytics website also revealed that Bitcoin outperformed most of the other assets in traditional finance. In contrast, BTC managed over 101% QoQ rise in Q4 compared to Q3, and fiat currencies, including the Euro and the Japanese Yen, recorded losses. BTC outperformed long-standing assets in traditional markets, including gold, crude oil, and equities. Ethereum Layer 2 activity increased by over 48% in Q4 2024 CoinGecko noted that Ethereum Layer 2s recorded over 48% growth in the last quarter of 2024, with Coinbase’s Base accounting for 48.3% of all the transactions. The report further revealed that the average daily transactions on the top 10 Layer 2s hit over 15 million, with Base attaining an average of 7.2 million transactions and an over 78% rise from Q3. Taiko was the 2nd most active Layer 2 chain, accounting for over 20% of the tidal transactions. While Ethereum dominated the Layer 2 space, Solana outperformed the blockchain in DEX transactions. Solana DEX activity increased over 152% in Q4, accounting for over 30% of the total DEX market share. The blockchain accounted for over $219 billion in trading volumes in Q4, while Ethereum accounted for about $184 billion. Ethereum still outperformed Solana on a year-on-year basis, accounting for over 35% of all DEX volumes in 2024. From Zero to Web3 Pro: Your 90-Day Career Launch Plan
The U.S. Securities and Exchange Commission (SEC) is delaying its decision on asset management firm Bitwise’s proposed crypto index exchange-traded fund (ETF) to March of this year. In a post on the social media platform X, Bloomberg ETF analyst James Seyffart says the regulatory agency is pushing back its decision on whether to let Bitwise convert its 10 Crypto Index Fund (BITW) into an ETF. According to Seyffart, the delay was expected and the final deadline is now in July. Furthermore, he notes that crypto firm Grayscale is also seeking to convert its Digital Large Cap (GDLC) into an ETF, adding that he expects it to be delayed from its original deadline of February 2nd. So far, the SEC has only approved ETFs tied to the top two digital assets by market cap, Bitcoin ( BTC ) and Ethereum ( ETH ). In a new memo, the SEC says it needs more time to consider Bitwise’s proposed rule change. “The Commission finds it appropriate to designate a longer period within which to take action on the proposed rule change so that it has sufficient time to consider the proposed rule change and the issues raised therein. Accordingly, the Commission, pursuant to Section 19(b)(2) of the Act, 5 designates March 3, 2025, as the date by which the Commission shall either approve or disapprove, or institute proceedings to determine whether to disapprove, the proposed rule change.” Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox Check Price Action Follow us on X , Facebook and Telegram Surf The Daily Hodl Mix Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing. Generated Image: Midjourney The post SEC Delays Decision on Bitwise’s Proposed Crypto Index ETF Until March appeared first on The Daily Hodl .
Positive movements are unfolding in the general market again, triggering a brief upswing in Bitcoin’s price above the $96,000 level. Even though BTC is slowly regaining its upside trajectory, certain investors are pessimistic about its price prospects as they offload a significant portion of their holdings. Selling Pressure Mounts As Mid-Level Wallets Sell In Bulk In a notable shift in investors’ sentiment toward Bitcoin, wallet addresses between 10 and 100 BTC have embarked on a selling spree. Seasoned technical expert and author at the CryptoQuant platform Axel Adler Jr highlighted the negative development in his recent research. Mostly considered as sharks, this group of medium-sized holders seems to be offloading their holdings at a rapid rate. The surge in selling activity, which comes in light of heightened market volatility, may be a sign of profit-taking or portfolio rebalancing. Data shared by Adler shows that the wallet addresses with 10 to 100 BTC have been actively selling their coins for more than a year, indicating waning confidence. Furthermore, the overall balance of these mid-sized investors has declined by over 370,000 BTC during this period. With this cohort selling rapidly, it could trigger a drawdown of its recent upside strength, increasing the potential for an extended decline. However, a shift in their behavior may fuel BTC’s upbeat momentum in the near term. In the meantime, monitoring the impact of the selling pressure on Bitcoin’s price trajectory is crucial as it might shape short-term market dynamics. While wallets holding 10-100 BTC have been selling their holdings, larger wallets containing 100-1,000 BTC have persistently increased substantially. On-chain data reveals that these big investors have been accumulating the flagship asset over the past 1 year. Adler noted that wallets with larger balances between 100 and 1,000 BTC saw a rise in their overall balance by 610,000 BTC. This huge accumulation indicates that institutional players or high-net-worth individuals might be taking advantage of price dips to increase their holdings. Typically, the trend is viewed as a potential bullish signal, reflecting robust faith in Bitcoin’s prospects in the long term in spite of recent price volatility. When large-scale investors continue to acquire BTC, there are speculations that a major upswing might be imminent. Is BTC Regaining Its Upside Trajectory? Bitcoin experienced a resurgence to key resistance levels on Tuesday, demonstrating the capacity for extended growth. Several factors, like the inauguration of Donald Trump into the White House as the new US President and a liquidity sweep, are considered to have triggered the recent upswing. Presently, BTC has surged past the $97,000 threshold, a level that has previously sparked upside strength. According to the informative platform IC News, this growth is driven by a liquidity sweep at the $96,000 mark. The platform also highlighted other liquidity pockets at $99,000 and $90,000, which might impact BTC ‘s price movement in the coming days.
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only. Bitcoin veteran predicts a 40,000% increase for WallitIQ, reminiscent of his accurate prediction of the Dogecoin price rally in 2021. Table of Contents Dogecoin WallitIQ secures future with unique features Conclusion In recent news, a Bitcoin veteran known for accurately predicting the Dogecoin price surge in 2021 is back with astonishing new forecasts. This time, the spotlight is on WallitIQ (WLTQ) and its potential for a 40,000% rally, igniting intrigue across the crypto community. Dogecoin Dogecoin is experiencing significant momentum, with its price currently at $0.3756, reflecting a 11.37% increase over the past week. Boasting a market capitalization of $55.44 billion and a 24-hour trading volume of $3.758 billion, the token remains one of the most liquid and actively traded cryptocurrencies. With a 24-hour low of $0.3487 and a high of $0.3772, Dogecoin continues to attract investor interest as it edges closer to its all-time high of $0.7376, achieved in May 2021. WallitIQ secures future with unique features WallitIQ recognizes the evolving needs of the modern crypto community and has integrated technologies that simplify DeFi . One of its standout features is the intuitive user interface of the trading platform, which will significantly reduce the complexities associated with crypto trading. WallitIQ will enable investors to achieve profitability through tested strategies while avoiding the emotional pitfalls of trading. Investors can earn a passive 180% APY on staked tokens, sidestepping the complexities of actively trading the 1,500 different tokens available on the platform. Furthermore, WallitIQ will allow investors to personalize wallet features by adding and customizing widgets that display real-time price updates, portfolio performance information, and other relevant data. The platform’s multilingual AI chatbot will offer 24/7 support for investors, addressing a wide array of needs. This feature will provide detailed suggestions for troubleshooting, setting up wallets, and resolving transaction-related issues. You might also like: Why $1,000 invested in WallitIQ could turn into $750,000 in 2025 Notably, WallitIQ has completed a SolidProof smart contract audit. The ecosystem is also supported by a cap of 1 billion tokens. This carefully selected volume provides room for exponential growth, making a $16.8 valuation after a 40,000% surge feasible. WallitIQ’s ongoing presale stage is thriving, with sales outpacing previous rounds that sold over 250 million tokens and raised nearly $6.5 million. This presale round is projected to attract another $7 million investment at $0.0420, positioning WallitIQ at the forefront of the $700 billion AI crypto market. Conclusion With a 40,000% forecast for WallitIQ, early investors could experience transformative shifts. As history has shown, Bitcoin veterans’ insights often lead to significant opportunities. For more information on the WallitIQ presale, visit their website or online community . Read more: DOGE forecasts indicate 300% rally, WLTQ for 65,000% gains ahead of SHIB Disclosure: This content is provided by a third party. crypto.news does not endorse any product mentioned on this page. Users must do their own research before taking any actions related to the company.
Prices for XRP have surged to $3, a landmark achievement for the altcoin which has captivated traders and investors alike. The dramatic rise reflects growing confidence and interest from both
Justin Sun recently unveiled the launch of USDD 2.0, a new version of Tron’s stablecoin, promising investors a lucrative 20% APY subsidized by Tron’s reserves. The crypto community approaches this