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Bitcoin’s Calm Signals Potential Breakout Toward $100K

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  • Bitcoin remains stable, fluctuating between $89,000 and $91,000, signaling potential for future growth.
  • CryptoQuant’s Gaah suggests Bitcoin’s Short Term Holders SOPR points to controlled optimism and healthy growth.
  • Analysts predict Bitcoin could break $100,000, with institutional adoption and bullish patterns supporting upward momentum.

Bitcoin has been relatively stable recently, following a period of dramatic price swings. After reaching a high of $93,500 on November 13, it pulled back to around $86,682. Over the past six days, the price has fluctuated between $89,000 and $91,000, currently sitting near $91,800. While the market’s calm is noticeable, some experts believe it may signal that the cryptocurrency is preparing for another rise.

In a November 19 update, CryptoQuant’s Gaah pointed out that Bitcoin’s Short Term Holders SOPR (STH) indicator, which tracks profit-taking, is showing signs of “controlled optimism.” Gaah noted that the indicator hasn’t yet reached levels of Extreme Greed, which suggests there’s still potential for growth before Bitcoin hits its peak.

Gaah also explained that the combination of the SOPR and the 30-day moving average indicates that short-term holders are taking reasonable profits, without signs of excessive euphoria. This suggests that BTC is in a healthy growth phase,  free from the mania that often precedes sharp corrections.  

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Source: CryptoQuant

Analyst Predicts Breakout Beyond $100K

Drawing parallels to Bitcoin’s 2020 performance, analyst Ali Martinez highlighted similarities between past and current market behavior. In 2020, BTC surged 26% after breaking its then-all-time high of $19,700, briefly consolidated, and then climbed to $40,000. Martinez noted that its recent 28% rise after surpassing its previous peak mirrors this trend.  

While the cryptocurrency recently hit $93,000, it has since paused in its upward trajectory. Martinez suggested this consolidation could precede another breakout, with the potential to push the cryptocurrency beyond $100,000 if the pattern persists.  

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Source: Ali_Charts

Technical analysis from Crypto Rover adds to the optimistic outlook. The analyst identified a broadening wedge pattern on Bitcoin’s monthly chart. According to Rover, the cryptocurrency’s recent breakout above the resistance level aligns with the upper boundary of the wedge. This development supports a bullish case for a potential price target of $150,000.  

Institutional Adoption Fuels Momentum  

Institutional investors are also bolstering confidence. Michael Saylor, Executive Chairman of MicroStrategy, predicts Bitcoin could surpass $100,000 by the end of the year. He attributes this to increasing institutional adoption and regulatory clarity, which he believes are transforming its market dynamics.  

Saylor highlighted the role of major players like BlackRock in boosting Bitcoin’s legitimacy within traditional finance. He also pointed to shifting U.S. political dynamics, which he argues could create a more favorable regulatory environment. This evolving landscape, according to Saylor, reduces near-term risks and strengthens Bitcoin’s appeal as a long-term investment.

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Genius Group Joins Bitcoin Treasury Trend with $10 Million Purchase

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  • Genius Group еntеrs Bitcoin treasury strаtеgy with а $10 million purchаsе of 110 BTC аt $90,932 еаch.
  • CEO Rogеr Hаmilton plаns to convеrt 90% of rеsеrvеs into Bitcoin, аiming for $120 million tаrgеt.
  • Corporаtе аdoption risеs, with firms likе MicroStrategy аnd Semler Scientific incrеаsing thеir BTC holdings.

Artificiаl intеlligеncе firm Genius Group hаs officiаlly еntеrеd thе Bitcoin treasury plаy with а bold $10 million purchаsе. Thе compаny, which аcquirеd 110 BTC аt аn аvеrаgе pricе of $90,932 pеr coin, аnnouncеd thе movе on Nov. 18. This purchаsе mаrks thе bеginning of аn ongoing strаtеgy to convеrt thе mаjority of its treasury rеsеrvеs into BTC.

Thе plаn аims to аllocаtе аt lеаst 90% of Genius Group’s currеnt аnd futurе rеsеrvеs to Bitcoin. Thе firm hаs sеt аn initiаl tаrgеt of $120 million for this trаnsition. Hаmilton аcknowlеdgеd thаt аdopting MicroStrategy’s Bitcoin treasury modеl lаckеd clеаr guidеlinеs, prompting thе lаunch of а podcаst to еducаtе businеssеs on аdopting BTC аs а treasury rеsеrvе. Thе podcаst will dеbut on Nov. 19 аt 9:00 а.m. ET, offеring а roаdmаp for compаniеs considеring similаr strаtеgiеs.

Sincе аnnouncing its BTC-focusеd аpproаch, Genius Group’s stock pricе hаs sееn а modеst boost. Thе shаrеs closеd Nov. 18 trаding аt $0.91, rеflеcting а 28% incrеаsе for thе month. Howеvеr, thе stock rеmаins bеlow its Nov. 13 pеаk of $1.05 аnd fаr from its аll-timе high of $96.80 rеcordеd in Junе 2022.

Bitcoin Treasury Strategy Gains Momentum

Genius Group is not аlonе in аdopting BTC аs а rеsеrvе аssеt. MicroStrategy, thе pionееr of this trеnd, rеcеntly аddеd 51,780 BTC worth $4.6 billion to its holdings, bringing its totаl to 331,200 BTC, as highlighted by crypto analyst Sam Callahan. Thе compаny аlso plаns to rаisе $1.75 billion through sеnior convеrtiblе notеs аt а 0% intеrеst rаtе to fund more purchаsеs.

Othеr compаniеs are following suit. Semler Scientific purchаsеd 215 BTC for $17.7 million on Novеmbеr 18, increasing its total holdings to 1,273 BTC. Marathon Digital аnnouncеd а $700 million convеrtiblе notеs offеring to buy morе Bitcoin. Thе dаy bеforе, Metaplenet rеvеаlеd plаns to issuе $11.3 million in bonds to еxpаnd its rеsеrvеs, which аlrеаdy еxcееd 1,000 BTC.

Bitcoin Trends Amid Corporate Adoption

Amid thеsе corporаtе movеs, BTC’s pricе hаs bееn consolidаting within а symmеtricаl triаnglе pаttеrn аround $90,000. Thе 50-dаy EMA hаs providеd cruciаl support аt $90,160. Anаlysts prеdict а brеаkout аbovе $92,000 could push it to $93,450, with $95,118 аs thе nеxt rеsistаncе lеvеl. On thе downsidе, а drop bеlow $90,000 mаy lеаd to support lеvеls аt $88,431 or $87,128.

Thе surgе in corporаtе Bitcoin аdoption highlights а growing trеnd of businеssеs turning to thе cryptocurrеncy аs а hеdgе аgаinst еconomic uncеrtаinty. Genius Group’s $10 million еntry into thе Bitcoin trеаsury gаmе undеrscorеs thе incrеаsing confidеncе in digitаl аssеts аs long-tеrm storеs of vаluе.

Related Readings | Solana Surges to $117B: Is $400 the Next Target for SOL?

Crypto Rover Predicts $200K Bitcoin Amid Reserve Drop

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  • Historic Low Bitcoin Reserves Signal Supply Challenges
  • Crypto Rover Forecasts $200K Bitcoin on Bullish Signs
  • Historic Breakout of Puell Multiple Hints Bullish Trend

Crypto Rover unveils pivotal shifts in Bitcoin’s market dynamics, from decreasing exchange reserves to a bull flag pointing to a $200K price target. These indicators suggest significant upcoming movements in the crypto market.

Bitcoin Reserves on Exchanges Decline as Market Braces for Supply Shock

Cryptocurrency analyst, Crypto Rover points out various changes in the Bitcoin market such as reduction in BTC reserves on exchanges during a bull market. This unusual trend in the market may lead to a supply shock which could affect price levels and market liquidity.

Researchers have also observed the decrease in the amount of Bitcoins held on different exchanges despite stable or increased market prices. This represents a break from the conventional trend where investors move their investments to private wallets for security at the expense liquidity.

The transfer of assets from exchanges also shows that investors are prioritizing the security of their assets from breaches such as hacks. In the process, this reduces the supply of Bitcoins stored in reserves for trading which may lead to increased prices and market fluctuations due to high demand.

Implications of Reduced Bitcoin Reserves

The continuous decline in Bitcoin reserves shows new trends, different from established traditional market dynamics, which may alter how bull markets function. Traditionally, bullish market trends are associated with higher reserves on exchanges. However, the current market trends suggest a new cycle due to greater price  fluctuations and low liquidities.

This pattern has drawn much attention from investors and traders since it may affect the investment plans and market forecasts. Low liquidity indicates that even small changes in the buying factor could lead to surge in prices, thus it presents challenges and strategic opportunities for market players. 

Crypto Rover Predicts Major Price Targets

Crypto Rover’s latest technical outlook shows an impressive bull target for Bitcoin with a target of $200,000. This forecast was derived from the bulls flag pattern on the trading charts. Therefore, this is considered as a bullish continuation pattern indicating that the upward movement may persist after a short consolidation phase.

The breakout point on the bull Flag is evident on the analysis with arrows, which shows the start of an extended upward price movement. Such patterns have in the past acted as market indicators for significant price increases which provides insights for investors looking for a bullish trend.

Role of the Puell Multiple in Forecasting

Puell Multiple has recently gone above its yearly average which points to an increase in prices which further deepens the bullish pattern.This measurement metric compares miner revenue against the current coin supply price. This is an essential factor to evaluate the state of the Bitcoins market and price movement in the future.

Historically, whenever the Puell Multiple has gone higher than its average, it has provided valuable insight about growing prices of Bitcoin. Thus, market observers are preparing for  another break out of the bullish phase as this metric nears the next breakout that was seen in previous cycles.

The Ultimate Bitcoin Wallets for Android Users: Top 5 Rankings

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Android users looking for reliable Bitcoin storage solutions have several wallet options, each engineered with specific features that enhance security, accessibility, and functionality. Wallets such as Plus Wallet, Trezor, Exodus, Zengo, and Ellipal provide notable advantages.

These wallets enable secure storage, transmission, and management of digital assets directly from Android devices, offering features like support for multiple chains, in-app exchanges, and access without the traditional key. Let’s evaluate these top wallets to identify the best option for effective asset management and user-friendly operation.

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1. Plus Wallet: Premier Security & Reward Benefits

Plus Wallet offers a secure and intuitive platform for managing digital assets efficiently, with sophisticated encryption and local storage for private keys, enhancing security on iOS and Android platforms. It allows users to easily track, store, and transfer digital currencies across various devices.

Supporting a range of cryptocurrencies including Bitcoin, Ethereum, XRP, and Polkadot, Plus Wallet allows for managing diverse portfolios through a single interface. The community-driven in-chain swap feature further enhances its flexibility, catering to users who value adaptability in their crypto operations.

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Moreover, Plus Wallet introduces unique earning opportunities through its Swap to Earn and Refer to Earn initiatives, rewarding users with USDT for each crypto exchange and offering a referral program that generates passive income. With its robust security features and focus on user rewards, Plus Wallet emerges as a leading choice for secure and profitable asset growth.

2. Exodus: Versatile Crypto Management and Earning

Exodus delivers a comprehensive solution for crypto management, accessible as a mobile app, desktop software, and browser extension, offering versatility for user access preferences. It supports multiple blockchains and seamless asset swapping, suitable for those with varied crypto holdings.

Additionally, Exodus enables asset staking for selected cryptocurrencies like Solana and Cardano, allowing users to generate passive income within the platform. Its clean and easy-to-navigate interface makes it appealing for users who value simplicity and functionality.

3. Trezor: Enhanced Offline Asset Protection

Trezor distinguishes itself as a hardware wallet that prioritizes extreme offline security, storing private keys away from online threats, ideal for users who focus on long-term asset security. The Trezor Model T incorporates features like FIDO2 authentication and integrates a password manager for added account security.

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Although it operates without a mobile app, Trezor supports an array of cryptocurrencies and integrates with desktop platforms, ensuring a secure and straightforward environment for asset management. Its uncompromised security measures make Trezor a reliable choice for comprehensive digital asset protection.

4. Zengo: Effortless Keyless Crypto Management

Zengo revolutionizes access to crypto assets with its keyless security model, eliminating the need for conventional private keys and simplifying access without compromising security. Utilizing advanced cryptographic techniques, Zengo ensures asset security with an easy-to-use mobile application.

While it supports basic crypto transactions like buying, selling, and staking, its coin offerings are less extensive than some competitors. Zengo Pro, the subscription version, provides enhanced features like advanced security and priority customer support, making it an attractive option for users favoring straightforward mobile access.

5. Ellipal: Comprehensive Air-Gapped Security

Ellipal bridges hardware and mobile wallet functionalities, targeting users who seek a balance between stringent security and operational convenience. Its mobile app works in tandem with an air-gapped hardware wallet, which keeps user assets completely offline and protected from online vulnerabilities.

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Ellipal supports a broad spectrum of cryptocurrencies and offers a high-security, multi-chain storage solution. The wallet’s design includes features like tamper resistance and a self-destruct mechanism to thwart unauthorized access attempts.

Diverse Wallet Options for Varied Needs

With a range of security features and distinctive capabilities, wallets like Plus Wallet, Trezor, Exodus, Zengo, and Ellipal cater to different user needs. From Zengo’s streamlined keyless entry to Plus Wallet’s comprehensive security measures, these wallets provide secure, convenient, and enriched options for managing digital assets. Exploring these choices allows users to select a wallet that best suits their management preferences and security needs.

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Bitcoin and Solana Dominate Social Media Amid Price Surge

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Key Takeaways:

  • Solana gains social media traction, nearing its ATH.  
  • MicroStrategy boosts Bitcoin holdings with a $4.6 billion purchase.  
  • Wallet data hints at shifting retail and whale behavior in crypto.  

Solana has taken the spotlight in crypto discussions, driven by its notable price momentum. According to Santiment, Solana’s market cap, now ranked fourth, showcases impressive performance against Ethereum, with its ETH price ratio peaking at $0.0709. This achievement has sparked optimism, with traders anticipating Solana surpassing its November 2021 all-time high of $257 by year’s end.  

The excitement around Solana is fueled by its robust network growth and increasing adoption in decentralized finance (DeFi) and non-fungible token (NFT) ecosystems. Analysts predict that sustained market interest could propel further gains, making Solana a key contender in the crypto space.

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Source: Santiment

MicroStrategy’s Bold Bitcoin Move  

Michael Saylor from MicroStrategy continues his aggressive building of the firm’s stash of Bitcoin. In its latest purchase, 51,780 BTC was added for about $4.6 billion. This is to show confidence in Bitcoin as a store of value into the future.

The purchase has once again spurred talks of increased institutional interest in Bitcoin. Everything MicroStrategy does is likely to impact market sentiment, given it is one of the largest corporate holders of BTC, and Bitcoin is cemented as digital gold. Saylor’s comments further illustrate a mounting trend of large entities positioning for potential future gains in the digital currency market.

Wallet Trends Reveal Market Sentiment  

Moreover, Santiment’s analysis of wallet activity across major cryptocurrencies offers insights into market dynamics. A decline in non-empty wallets often signals fear and capitulation among retail investors, creating opportunities for whales and long-term holders to accumulate.  

In the last month, Bitcoin wallets increased by 11,263, while Ethereum added 1.95 million new wallets. XRP and Dogecoin also posted wide increases, indicating rejuvenated retail participation. On the other hand, Cardano witnessed a slight correction in wallet numbers as cautious sentiment is evident.

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Source: Santiment

Indicative data from this perspective concerns the market shift, where larger players seem to take advantage of dips to consolidate their holdings while retail participation remains dynamic.

This pattern usually characterizes the pre-bullish price movements, therefore showing how wallet activity plays a very strategic role in crypto market trends. Nevertheless, the Solana rally, MicroStrategy’s commitment to Bitcoin, and changing wallet dynamics all represent a dynamic crypto landscape.

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‘Bitcoin Reserves In The Horizon’ Polish Presidential Candidate Mentzen Bold Promise If Elected in 2025

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Key Insights:

  • Polish Sławomir Mentzen pledges to turn Poland into a cryptocurrency haven with innovative Bitcoin reserve plans.
  • Similar to global trends, Mentzen’s vision aligns with El Salvador’s legal tender and the U.S push for strategic BTC reserves.
  • Poland could join nations like Bhutan and Mexico in integrating Bitcoin into their financial systems under Mentzen’s presidency.

Polish presidential candidate Sławomir Mentzen pledges to make Poland a cryptocurrency haven with a Strategic Bitcoin Reserve if elected in 2025. This mirrors global trends such as El Salvador’s legal tender and U.S proposal for Bitcoin reserves. Mentzen aims to transform Poland’s financial system through embracing BTC which soared past $90K in the past week.

Mentzen Promises Cryptocurrency Reforms and Strategic Bitcoin Reserve

Sławomir Mentzen, a Polish presidential candidate, expressed his intentions to establish a Strategic Bitcoin Reserve if elected in 2025. Mentzen, a popular candidate among the libertarian and right-wing voters, explained his vision of transforming Poland into a cryptocurrency haven. He tweeted:

“Poland should create a Strategic Bitcoin Reserve. If I become the President of Poland, our country will become a cryptocurrency haven, with very friendly regulations, low taxes, and a supportive approach from banks and regulators. BTC to the Moon!”.

The proposition has emerged amid a growing global interest in digital currencies with cryptocurrency advocates urging governments to support digital currencies. Lech Wilczynski, CEO of Swap.ly cryptocurrency exchange, called on Mentzen to adopt a model policy for Strategic Reserve in the past. Wilczynski also provided the link to the Satoshi Action Fund document, an open source document and noted its importance over cryptocurrency asset laws.

Global Interest in Bitcoin Reserves Gains Traction

El Salvador’s president Nayib Bukele led the introduction of Bitcoin by declaring it legal tender in the country in 2021. The country has purchased nearly 6,000 BTC and sent a large amount to a cold wallet kept in a physical vault this year. Bukele has continued to advocate for adoption of BTC despite resistance from citizens and even donated BTC to fund projects in Honduras.

In the United States, Wyoming’s Senator Cynthia Lummis tabled a Bill in the U.S Senate to establish a BTC reserve as an insurance policy against national debt. The legislation expects to purchase one million BTC within five years. Recently, the President of the United States Donald Trump also backed such policies during the election campaign preparing such initiatives as forming of the “Strategic Bitcoin Reserves” and appointing pro-cryptocurrency officials to his government.

Regional and International Crypto Movements

Poland’s potential Bitcoin reserve coincides with other global trends in adoption of cryptocurrencies. In Mexico, Senator Indira Kempis seeks to establish BTC as a legal tender besides another proposal she tabled seeking to have a Central Bank Digital Currency. Additionally, Argentinian President Javier Mile recently called for research on Bitcoin’s role in dollarizing the national economy without the central bank.

Bhutan has discreetly mined Bitcoin for years and owns about $780 million worth of BTC, according to data from Arkham Intelligence. These trends in adoption of cryptocurrencies highlight the need for nations to include digital assets in their economic models and possibly alter the conventional monetary systems.

Is Bitcoin Ready for Another Rally? 4-Year Cycle Predicts Next Move

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Key Takeaways:

  • Bitcoin has followed a precise 4-year cycle since 2015 with accumulation, uptrend, distribution, and a bear market.
  • The upcoming 2025-2026 period could mark the cycle top and bottom, with potential months of growth ahead.
  • Bitcoin has already surpassed key resistance levels, signaling a possible parabolic price surge.

Bitcoin’s market movements have consistently adhered to a strikingly accurate four-year cycle since 2015. This cycle, observed by Alphractal, includes distinct phases: accumulation, an uptrend or markup, distribution, and a subsequent bear market.

In the meantime, this has evolved over time with quite impressive accuracy to highlight tops and bottoms for each cycle. With this repetitive pattern considered, the next cycle peak could fall between October 12-16, 2025, and then the bottom between October 4-14, 2026. With conditions given in the present market, Bitcoin is still within its uptrend phase, which usually posts quite significant growth.

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For investors, this means a possible few-month stretch upward of momentum in the market before taking a more serious nosedive. Many people are fairly optimistic about the next few months because Bitcoin’s slide has shown incredible resilience, and its cycle tends to be rather predictable.

A Parabolic Surge? The Potential of Bitcoin’s Breakout

One of the more interesting things about BTC’s price action this cycle is deciphering how many times the cryptocurrency has traditionally faced hard resistance from the 0.618 Fibonacci level. It always returns to get rejected at this key Fib level, then consolidates beneath.

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But this cycle, Bitcoin has breached this level without rejections and has consolidated above the level near its ATH. This new development in behavior is somewhat striking and has analysts excited.

The recent movements in BTC’s price portend that the much-awaited breakout has finally arrived after a very long period of consolidation. If history repeats itself, Bitcoin will see another parabolic surge soon.

This behavior may further reinforce in one’s mind that the current market phase indeed forms part of the predicted cycle and that big price rises are just about to occur.

Fractal Analysis: A Key to Understanding Bitcoin’s Resilience

Fractal analysis of its market behavior gives a new light on BTC’s long-term potential. The general reaction is that digital cryptocurrency markets are extremely volatile, if not impossible, to gauge, but the ability of BTC to recreate its cycle in such exactitude shows resilience and endurance.

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Given the actual market conditions and uptrend continuation, this is a sign of further growth. Thus, it is an exciting time for investors who are keenly observing Bitcoin’s price action. Now, as months of growth are expected in front, all eyes are on Bitcoin to see if this cycle actually continues, iterating itself as forecasted.

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Bitcoin Set to Reach $135K, Predicts CryptoQuant Founder

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  • CryptoQuant’s Ki Young Ju rеvisеs Bitcoin forеcаst to $135,000, citing ETF cаpitаl inflows.
  • Dеspitе wаrnings on ovеrlеvеrаgеd positions, Bitcoin whаlеs show confidеncе by continuing to аccumulаtе.
  • Bitcoin’s pricе fаcеs kеy rеsistаncе nеаr $93,265; brеаkout could push it toward $100,000 or higher.

Bitcoin, currеntly trаding аt $90,551, hаs cаpturеd аttеntion with а bold forеcаst from CryptoQuant foundеr Ki Young Ju. Thе аnаlyst hаs rеvisеd his еаrliеr prеdictions, projеcting а potеntiаl cеiling of $135,000 for Bitcoin. This projеction considеrs cаpitаl inflows from еxchаngе-trаdеd funds аnd products, supporting cryptocurrеncy’s pricе trаjеctory.

Bitcoin Chart
Source: Ki Young Ju

Along with thе optimistic outlook, Ju аlso issuеd а wаrning to trаdеrs аbout ovеrlеvеrаgеd positions, urging cаution whilе mаintаining а long-tеrm bullish stаncе. “Plеаsе notе thаt this doеsn’t mеаn wе аrеn’t gеtting corrеctions. As I mеntionеd еаrliеr, thе futurеs pеrp mаrkеt is ovеrlеvеrаgеd. Stаy long-tеrm bullish, but bе cаutious with lеvеrаgе if you’rе а trаdеr,” Ju еmphаsizеd.

His аnаlysis rеvеаlеd thаt thе BTC-USDt pеrpеtuаl mаrkеt wаs ovеrlеvеrаgеd by аpproximаtеly 2.7 timеs morе thаn еаrliеr this yеаr. This ovеr-lеvеrаging hаs thе potеntiаl to triggеr cаscаding liquidаtions, lеаding to short-tеrm pricе pullbаcks.

Bitcoin Xpost
Source: Ki Young Ju

Bitcoin Whales Maintain Market Confidence

Dеspitе thеsе concеrns, thе broаdеr sеntimеnt аmong Bitcoin invеstors rеmаins optimistic. CryptoQuant contributor Darkfost highlightеd thаt whаlеs, or lаrgе invеstors, continuе аccumulаting BTC еvеn аs thе pricе hovеrs аround $90,000. Hе аddеd, “Most аrе holding, which is а sign of confidеncе in thе mаrkеt.”

On thе othеr hаnd, contributor Percival obsеrvеd а diffеrеnt trеnd аmong а subsеt of long-tеrm Bitcoin holdеrs. Somе invеstors who hаvе hеld thеir positions for ovеr 155 dаys аrе rеportеdly tаking profits аt thе $90,000 lеvеl. Howеvеr, Percival clаrifiеd thаt this doеs not rеflеct thе аctions of аll long-tеrm holdеrs, mаny of whom аrе still wаiting for highеr pricе lеvеls to rеаlizе morе substаntiаl gаins. 

“Through Rеаlizеd Pricе UTXO Bаnds, wе sее thаt long-tеrm holdеrs аrе not looking аt $90K. Bitcoin hаs to rеаch highеr lеvеls аnd pricеs to rеаlizе profits of morе thаn 10x,” hе notеd.

Key Levels Shaping Bitcoin’s Path

Bitcoin’s short-tеrm movеmеnt is strongly influеncеd by criticаl pricе lеvеls. Thе currеnt pricе of $90,551 plаcеs it within а rеsistаncе zonе bеtwееn $92,000 аnd $93,265. If buyеrs push pаst $93,265, thе nеxt tаrgеt liеs аt $100,000. Should this psychologicаl bаrriеr bе brеаchеd, thе pricе mаy climb furthеr to $113,331.

BTC price Chart
Source: Trading View

Convеrsеly, fаilurе to sustаin momеntum аbovе $85,000 could spеll troublе for bulls. A dip bеlow this lеvеl might triggеr а dеscеnt towаrd thе 20-dаy еxponеntiаl moving аvеrаgе (EMA) of $80,791, with furthеr lossеs potеntiаlly pulling thе pricе to $70,000, аs prеdictеd by CryptoQuant аnаlyst BаroVirtuаl.

Thе 4-hour chаrt dеpicts indеcision, with thе cryptocurrеncy forming а symmеtricаl triаnglе pаttеrn. A brеаkout аbovе thе triаnglе would signаl bullish dominаncе, pаving thе wаy for а surgе to $100,000. Convеrsеly, а brеаkdown bеlow thе triаnglе could triggеr short-tеrm profit-tаking, lеаding to а potеntiаl drop to $85,000 or еvеn $80,000.

Related Readings | Ethereum Faces Critical Breakdown Against Bitcoin, Analysts Warn of Losses

MicroStrategy’s $26 Billion Bitcoin Holdings Surpass IBM and Nike Cash Holdings

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Key Insights:

  • MicroStrategy’s Bitcoin strategy outpaces IBM and Nike, holding a portfolio valued at approximately $26 billion.
  • Since 2020, MicroStrategy’s shares surged by 2,500% due to its significant Bitcoin investments.
  • Planning to expand its Bitcoin cache, MicroStrategy aims to raise $42 billion over the next three years.

MicroStrategy , a pioneer in business intelligence, boasts a reserve of approximately $26 billion worth of Bitcoins, surpassing cash reserves of major corporations like IBM and Nike. This development marks a significant milestone in the adoption of cryptocurrency by mainstream businesses.

MicroStrategy’s Growing Financial Reserve in Bitcoin

MicroStrategy started the accumulation of Bitcoin as an inflation hedge in 2020 and has shown major returns. The company’s current Bitcoin holdings valued at around $26 billion have surged past financial reserves of major companies like IBM and Nike. IBM reported $13.7 billion in cash and securities while Nike reported $11.882 billion. These Bitcoin holdings positions the company at the top of corporate America treasury holdings, behind only behemoths like Apple Inc. and Alphabet Inc.

The company is based in Tysons Corner Virginia and is currently ranked as the biggest corporate Bitcoin holder surpassing key players in the cryptocurrency sector like Marathon Digital and Riot Platforms. The aggressive investment efforts in Bitcoin shows its commitment to make BTC a strategic investment asset.

Stock Soars as Bitcoin Holdings Grow

MicroStrategy investment in Bitcoin shows that corporations are starting to diversify their treasury portfolios to include cryptocurrencies. This approach has received a mixed reaction of criticism and acceptance. Some financial experts have cautioned against the approach while others consider it an opportunity to leverage the cryptocurrency bull run.

Bitcoin has improved MicroStrategy’s market reputation and influenced its stock returns as well as performance. The company purchased the bitcoins in August 2020 and has since seen its shares gain more than 2500% higher than the broader market becoming one of the best-performing US stocks.

$42 Billion Bitcoin Raise to Expand Bitcoin Assets

MicroStrategy has continued to invest in cryptocurrency assets.  The company plans to expand its cryptocurrency portfolio over the next three years by purchasing $42 billion investment in Bitcoin. The company’s ambitious investment plan indicates its  confidence in Bitcoin’s long term value and its ability to be a reliable inflation hedge.

As more companies such as Meta Planet emulate MicroStrategy’s Bitcoin investment approach, there is a shift in the field of corporate investments. This transition by companies to purchase cryptocurrency assets may redefine how companies manage their financial reserves with the development of the digital economy.

MicroStrategy’s early adoption of Bitcoin investments has set a benchmark and shaped future trends in corporate finance. The company’s continued Bitcoin purchases has attracted the attention of the financial world and will likely influence the adoption of digital currencies among major corporations.

Ethereum Faces Critical Breakdown Against Bitcoin, Analysts Warn of Losses

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  • Ethereum’s breach of an eight-year support trendline against Bitcoin signals growing bearish sentiment and concern.
  • Solana’s 925% surge since 2022 intensifies competition, eroding Ether’s dominance in the DeFi ecosystem.
  • Inverse cup-and-handle pattern suggests ETH/BTC could face a 50% drop if support at 0.0317 BTC fails.

Ethereum’s native token, Ether (ETH), has lost a critical support level against Bitcoin (BTC), prompting a wave of concern among analysts and investors. For the first time in eight years, the ETH/BTC pair dropped below an upward trendline that has marked market lows since 2016.

This trendline previously supported notable recoveries, including a 300% rebound between December 2020 and December 2021 and a staggering 1,800% surge between January 2017 and May 2017. However, November 2024 brought a decisive breakdown, with ETH/BTC plunging approximately 15% below this level. The decline was accompanied by rising trading volumes, amplifying fears of intensified selling pressure.

Tuur Demeester, founder of Bitcoin hedge fund Adamant Capital, encapsulated the sentiment, stating, “Ethereum is dying a slow death.” The sharp loss of support, coupled with increasing volumes, signals that ETH/BTC might face even deeper losses in the weeks ahead.

Xpost ETH
Source: Tuur Demeester

Solana and Bitcoin challenge Ethereum

Ethereum’s challenges aren’t solely technical. Bitcoin’s fourth halving event in April 2024 has strengthened BTC’s appeal among both retail and institutional investors, leading to a shift of capital from Ethereum into Bitcoin. Ether’s woes have been exacerbated by the meteoric rise of Solana (SOL), Ethereum’s top smart contract competitor.

Since December 2022, the SOL/ETH pair has skyrocketed by over 925%, reflecting Solana’s growing adoption and dominance in the decentralized finance (DeFi) ecosystem. This competitive pressure has eroded Ethereum’s market share, further weakening its position.

Adding to Ethereum’s decline was a political twist. During Donald Trump’s recent presidential campaign, he hinted at making Bitcoin a strategic reserve asset for the U.S. government. Ethereum was notably absent from the conversation, leaving its community disheartened and sidelined in a potentially transformative narrative for cryptocurrency adoption.

Inverse Cup-and-Handle Signals Drop

Technical Indicators Signal Bearish Outlook for Ether. The ETH/BTC pair has entered the breakdown stage of an inverse cup-and-handle (IC&H) pattern, characterized by a rounded top and a smaller upward consolidation. This bearish formation typically signals a significant price drop once the neckline support is breached.

If this pattern plays out, the ETH/BTC pair could target a level as low as 0.017 BTC by the end of 2024, marking a 50% decline from current prices. This projection aligns with a historical support zone from August 2019 to January 2020.

Despite challenges, a sense of cautious optimism remains. Should the pair rebound strongly from its current support around 0.0317 BTC—a level coinciding with the 0.786 Fibonacci retracement line—it could negate the bearish pattern. A successful bounce could propel ETH/BTC toward 0.043 BTC by the close of 2024.

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