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Bitcoin’s (BTC) Drop Below $100K Sparks Massive Crypto Selloff

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  • BTC’s fall below $100K caused a broad selloff, with $800M liquidated and XRP dropping 19%.
  • Hawkish Fed signals fewer rate cuts and sticky inflation, rattling markets further.
  • BTC reclaimed $101,300, ETH rose to $3,700, and XRP steadied at $2.35.

The cryptocurrency market reeled from a sharp downturn, triggered by Bitcoin’s unexpected fall below the $100,000 price mark. After reaching highs of $108,000, Bitcoin (BTC) plunged to $98,800 within 24 hours, dragging altcoins like XRP, Ethereum (ETH), and Solana (SOL) down with it. Over $800 million in market liquidations marked a turbulent day for investors.

The cryptocurrency market faced a wave of losses, with Bitcoin leading the downturn. The flagship digital asset fell by 7.2%, sliding from recent highs to trade near $101,300.

Ethereum also suffered a significant blow, dropping over 9%. The second-largest cryptocurrency by market cap is now stabilizing around $3,700, reflecting broader market jitters.

XRP experienced one of the steepest declines among major altcoins, plummeting 19%. However, it has shown signs of recovery, bouncing back to approximately $2.35 as the market steadies.

Solana, another prominent asset, wasn’t spared either, losing 12% of its value. It is currently trading just below the critical $200 level, underscoring the widespread impact of the selloff.

Federal Reserve Chair Jerome Powell’s post-FOMC meeting comments shook investor confidence. While the Fed cut rates by 25 basis points to 4.25–4.5%, Powell warned inflation remains sticky. The Fed’s revised 2025 inflation projection of 2.5%, up from 2.1%, coupled with fewer rate cuts, signaled tighter monetary conditions.

Powell also dismissed speculation about a Bitcoin national reserve, citing legal barriers and lack of intent to change them. Analysts attributed the crypto market’s reaction more to Powell’s hawkish stance than the expected rate cut itself.

Bitcoin and Other Crypto Recovery in Sight?

Despite the initial panic, major cryptocurrencies began stabilizing. BTC regained footing above $100,000, while ETH and XRP clawed back part of their losses. Ali Martinez, a prominent crypto analyst, advised against panic selling, urging investors to focus on long-term fundamentals.

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The market remains wary of tighter liquidity in 2025, potentially dampening risk-asset performance. For now, investors are digesting the Fed’s revised outlook and watching closely for broader macroeconomic signals.

Shiba Inu (SHIB) Burns Massive 410.74 Trillion Tokens, Driving Scarcity

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  • Shibarium has burned over 410.74 trillion Shiba Inu, including $1.5M worth, aligning with deflationary goals and reducing circulating supply.
  • Shibarium processes 4.72M daily transactions, supports 2.01M wallets, and has 8.47M total blocks with a five-second average block time.
  • Shibarium enhances SHIB’s usability through low-cost transactions, staking, and governance, elevating its market position and ecosystem growth.

Since the launch of Shibarium’s mainnet in August 2023, debates have sparked within the Shiba Inu community about its impact on SHIB. Shibarium, the Layer-2 blockchain of the Shiba Inu ecosystem, was designed to bolster the ecosystem, reduce costs, and enhance scalability. However, its effect on SHIB’s value has been met with mixed opinions.

In response to growing skepticism, Lucie, Shiba Inu’s marketing expert, took to X to outline Shibarium’s tangible contributions to SHIB.

Lucie highlighted Shibarium’s role in burning SHIB tokens. Over $1.5 million worth of SHIB has been incinerated since its inception. Shibarium’s fee structure supports this process. While validators receive priority fees, 70% of base fees are converted to SHIB and sent to dead wallets.

Since August 2023, the Shibarium burn portal has removed 300 million SHIB tokens from circulation. As a result, Shibarium directly enhances SHIB’s scarcity, aligning with long-term deflationary goals. To date, a staggering 410.74 trillion SHIB have been burned, with 6.08 million tokens incinerated in the past day alone.

Shiba Inu’s Advancing Accessibility

Beyond burns, Shibarium enables low-cost transactions, paving the way for SHIB to be used in everyday applications. Lucie also underscored Shibarium’s role in creating new utilities for SHIB, such as staking and decentralized governance.

Shibarium’s adoption continues to soar. With 2.01 million wallet addresses, 8.47 million total blocks, and an average block time of five seconds, the network has processed 673.35 million transactions to date. The daily transaction volume currently stands at 4.72 million, indicating robust user activity.

Additionally, partnerships and decentralized applications (dApps) within the ecosystem point to Shibarium’s growing influence. Forbes’ recognition of Shiba Inu reflects the blockchain’s ability to elevate SHIB’s market stature.

Shibarium has undeniably reshaped the Shiba Inu ecosystem, driving utility, accessibility, and deflationary progress for SHIB. As user activity remains strong, the Layer-2 blockchain is proving its worth in cementing SHIB’s future.

Chainlink (LINK) Eyes $60 in 2025: A Bullish Surge Amid Crypto Rally

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  • LINK surged 95% YTD, reaching $27.43, and aims for $60+ by 2025.
  • Analysts project a 208% rise by May 2025, hitting $84.
  • Market catalysts and DeFi adoption fuel Chainlink’s bullish momentum.

Chainlink (LINK) has surged again, climbing 14% in the ongoing bull market. With its current trajectory, LINK could surpass the $60 mark in 2025, setting a new all-time high. This milestone would be the token’s highest price since 2021, marking its resurgence as a standout performer in the digital asset sector.

This year has been remarkable for cryptocurrencies. Bitcoin reached six figures following Donald Trump’s reelection, and the crypto ETF approval in January set a bullish tone. Chainlink has mirrored this momentum, gaining over 95% year-to-date. Notably, LINK has surged 76% in the past 30 days, reaching a price of $27.43 despite a slight 1.3% dip in the last 24 hours.

LINK’s year-end performance positions it among the top gainers. Analysts believe this trend will carry into 2025, with price predictions painting a bullish picture.

Predictions for Chainlink’s Path to $60 and Beyond

Crypto price prediction platform CoinCodex forecasts LINK reaching $61 by February 2025, representing a 124% increase from its current levels. Analysts expect the token to hit $71 by April 2025 and continue its ascent to $84 by May, an overall increase of 208%.

This impressive outlook aligns with the broader market sentiment, which has seen significant growth in assets like Ripple (XRP) and VeChain (VET). Chainlink’s utility and adoption in decentralized finance (DeFi) and smart contract applications have fueled its consistent growth, ensuring its place as a top performer.

Chainlink’s recent momentum can be attributed to several key factors driving its exceptional performance in the cryptocurrency market. One major catalyst has been the broader market conditions, particularly Bitcoin’s historic milestone of reaching six-figure territory and the approval of the first crypto-based ETF earlier this year. These developments have lifted the entire crypto sector, creating a favorable environment for assets like LINK to thrive.

Another critical driver is Chainlink’s increasing adoption, particularly in decentralized finance (DeFi). Its technology plays a pivotal role in powering smart contracts by securely connecting blockchain platforms to real-world data. This indispensable utility has strengthened Chainlink’s value proposition, making it a sought-after asset among investors and developers.

Additionally, the market’s bullish sentiment towards LINK has fueled optimism about its future. Analysts are projecting record-breaking price targets for the token, reflecting confidence in its long-term potential. These positive forecasts have further solidified its position as a leading cryptocurrency in the ongoing bull market.

In terms of performance metrics, Chainlink has achieved remarkable growth. Year-to-date, the token is up by 95%, underscoring its resilience and upward trajectory. Over the past 30 days alone, LINK has surged by 76%, demonstrating robust momentum. Analysts predict the token will reach $61 by February 2025, surpass its all-time high with $71 in April, and achieve $84 by May, marking a staggering 208% increase from its current levels. These metrics highlight Chainlink’s impressive ascent and its potential for sustained growth in the coming months.

Bitcoin (BTC) Strategic Reserve Gains Momentum: Implications for Price Surge to $500,000

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  • US strategic Bitcoin reserve could push the price to $500,000.
  • Countries worldwide are adopting Bitcoin, increasing demand and pushing prices higher.
  • Bitcoin’s bullish outlook continues into 2025 with significant demand drivers like ETFs and institutional adoption.

Bitwise CIO Matt Hougan has speculated that Bitcoin (BTC) could surge as high as $500,000 if the US government establishes a strategic reserve for the asset. This comes as the strategic reserve motion gains momentum, particularly following Trump’s election win and his choice of cabinet members, which indicates an intention to support cryptocurrency growth in the US.

Hougan argues that creating a US BTC stockpile would boost BTC’s global demand. He believes this move would attract more countries to the cryptocurrency, increasing demand and pushing BTC’s value past the $200,000 target. Following the reserve’s creation, he envisions a substantial rise, with BTC potentially reaching between $300,000 and $500,000 per coin.

Bitcoin to Trounce 2024 Performance Next Year

Hougan emphasized that BTC’s impressive performance in 2024 will spill over into 2025. Three main factors are driving this upswing: first, inflows from US BTC spot exchange-traded funds (ETFs), which have brought in $36.73 billion this year and now hold 5.76% of BTC’s circulating supply.

Second, public companies like MicroStrategy and Marathon Digital, along with new entrants like Rumble and Metaplanet, are adopting BTC as a strategic reserve asset. Lastly, there’s growing demand from nations, which Hougan believes will lead to a significant demand shock as the limited supply of Bitcoin becomes even more scarce.

XRP Poised for $5: Analyst Predicts Explosive Rally

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  • XRP’s Bullish Setup: Bollinger Bands and bull flag breakout suggest an imminent rally.
  • Target Price: Analyst predicts $4.90–$5 in the short-to-mid term.
  • Altcoin Season Ahead: Declining Bitcoin dominance supports XRP’s upward trajectory.

XRP holders could be on the verge of becoming some of the wealthiest investors, says prominent analyst Steph. His bold claim stems from the token’s recent performance and technical indicators that hint at an explosive rally.

XRP has captured market attention with its extraordinary movements. In November, the asset surged 464%, rising from $0.51 to $2.90 in a single month. Despite consolidating between $2 and $2.60, analysts believe this is only the beginning. Steph argues that the token is primed for another rally, potentially pushing prices beyond $5.

Steph points to expanding Bollinger Bands on XRP’s 4-hour chart. Historically, similar patterns have triggered rallies of 53%, 120%, and 132%. The current expansion suggests the token is poised for another significant breakout.

XRP’s Bull Flag Breakout Fuels Optimism

Adding to the bullish outlook, XRP has broken out of a bull flag pattern on the daily chart, backed by multiple closes above a key resistance line. Now trading at $2.5, the token holds above the critical support at $2.33. Steph stresses that maintaining this level keeps the bullish trend intact, with $2.60 identified as the next resistance. A confirmed breakout could propel the token to $4.90–$5 in the short-to-mid term.

Bitcoin dominance has declined, breaking below a rising wedge pattern and testing levels around 59%. If dominance dips further to the 47–50% range, altcoins like Ripple could see explosive growth. Historically, this range triggered significant altcoin rallies in July 2021 and October 2021.

Steph warns investors to monitor Bitcoin dominance closely. A reversal near the 47–50% zone could signal profit-taking opportunities. For now, however, conditions favor altcoins.

Currently, XRP is trading at $2.50, showing a slight decline of 0.12% over the past 24 hours. The immediate resistance level is around $2.60, with a more significant target range of $4.90 to $5 in the short term. This upward momentum is underpinned by favorable market conditions, as Bitcoin dominance is currently testing the 59% mark, which is beneficial for altcoins like Ripple.

According to Steph’s analysis, these positive indicators suggest a bright future for XRP holders, potentially positioning them as some of the wealthiest investors.

Toncoin (TON) Tumbles Down 4.2%, Promising 382% Surge by 2025

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  • Toncoin (TON) is down 4.2% over the past 24 hours but remains up 171% year-over-year.
  • Analysts predict TON to hit $28 by January 2025, a 382% surge, with $20 likely after May.
  • TON’s connection to Telegram is a key driver of its long-term potential despite short-term hurdles.

The cryptocurrency sector has been ablaze with activity, yet Toncoin (TON) seems to have hit a pause on its meteoric rise. Despite this lull, predictions for TON’s future remain bullish. Analysts are forecasting the token to surge to $20 by 2025. The real question is: when will this breakthrough occur?

Toncoin is the native cryptocurrency of The Open Network (TON), developed by Telegram. Earlier this year, the token experienced rapid growth, fueled by its association with the messaging giant. However, recent weeks have been less kind. TON is down 4.2% in the last 24 hours, trading below its critical $6.1 support, according to CoinMarketCap.

Yet, TON’s performance over the past year tells a different story. The cryptocurrency has soared by an impressive 171% year-over-year, demonstrating its resilience and market potential.

Toncoin’s Bold Projections for 2025

According to CoinCodex, TON could exceed its previous all-time high of $8 as early as next year. Analysts project an even more dramatic surge, forecasting a record price of $28 by January 2025. This would represent a staggering 382% increase from current levels. However, they caution that this peak might be short-lived, predicting a retracement after May 2025.

The broader cryptocurrency market, led by Bitcoin’s historic climb to six figures, has buoyed many altcoins. Yet TON has not fully ridden this wave. Its recent decline raises concerns among traders about the timing of its projected rally.

Still, Toncoin’s strong fundamentals and Telegram’s backing offer a compelling case for long-term growth. As the sector continues its upward momentum, TON’s performance will be closely watched by investors seeking the next breakout star.

Solana’s Massive Bullish Breakout: Targets for $300+ Gains

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  • Historical Pattern: Solana’s bull flag fractal hints at a potential rally to $300.
  • Price Targets: $320 short-term, $440 long-term based on Fibonacci extensions.
  • Analyst Optimism: Support levels and historical setups signal a promising breakout.

Solana (SOL), a top-performing blockchain network, is battling bearish trends while showing signs of a potential rally. Despite a 1.61% 30-day return compared to Ether’s 26.96% and Bitcoin’s 17.49%, analysts highlight a familiar bullish chart pattern—indicating SOL could surge to $300.

Historical data highlights a recurring bull flag fractal in Solana’s price movement, mirroring a similar setup from January 2024 that triggered a substantial triple-digit rally. This familiar pattern suggests the potential for another significant price surge.

The current bull flag formation has unfolded over a 25-day period, slightly shorter than the 30-day setup observed previously. A notable feature of this pattern is the price’s interaction with the 50-day exponential moving average (EMA), where it repeatedly tests and bounces off this critical support level. Furthermore, the Relative Strength Index (RSI) has dipped below the 50 mark, a level often interpreted as oversold, indicating the possibility of a bullish reversal.

Analysts target $320 based on the 1.618 Fibonacci extension, with a long-term aim at $440, using the 2.272 FIB extension.

For bullish confirmation, SOL must break $235 to establish a higher-high structure. Daan Crypto, a full-time investor, emphasizes this as crucial for a short-term breakout. Additionally, support levels against Tether (USDt), Bitcoin (BTC), and Ether (ETH) strengthen the bullish case.

Solana Community Sentiment: Trolls vs. Optimists

Although Solana’s recent performance has trailed behind its major counterparts, optimism within the crypto community remains steadfast. Some traders believe the altcoin is primed for a significant recovery, fueled by technical factors and robust support levels.

Among the believers is Trader Jelle, who predicts an “absolute monster run” for Solana, pointing to its strong foundational support across various trading pairs. Similarly, independent analyst Zer0 views the current price movements as part of a healthy breakout-and-retest cycle, dismissing bearish narratives and reinforcing confidence in Solana’s potential for a sharp rebound.

Conversely, some community members mock Solana’s underperformance, but analysts remain confident in its recovery.

In the past 30 days, Solana’s performance has been underwhelming compared to its peers. The cryptocurrency has posted a modest 1.61% return, significantly lagging behind Ethereum’s impressive 26.96% gain and Bitcoin’s solid 17.49% increase during the same period. This disparity highlights the challenges Solana has faced recently in the market.

Despite its short-term struggles, analysts have identified ambitious price targets for Solana. The first key milestone is $320, derived from the 1.618 Fibonacci extension. For a longer-term perspective, the 2.272 Fibonacci extension points to a potential climb to $440, signaling substantial growth potential if bullish momentum takes hold.

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A crucial resistance level lies at $235, which analysts emphasize as pivotal for confirming a bullish break of structure. Clearing this threshold would establish a higher-high trend, strengthening Solana’s case for a sustained upward trajectory.

Shiba Inu (SHIB) Gains 11%: Could Surge to $0.00005 Soon

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  • Shiba Inu trades at $0.00002678, up 11% over the past month.
  • Bitcoin hit $107K, with 54.62M non-empty wallets, boosting altcoin optimism.
  • SHIB could reach $0.00005 by Dec 20, backed by ecosystem developments.

Shiba Inu (SHIB) continues to grab attention in the crypto space. At $0.00002678, the meme coin signals hope for a rally as Bitcoin breaks records. SHIB investors are watching closely—can the token soar alongside Bitcoin’s surge?

Currently, SHIB trades at $0.00002678, reflecting a slight 2% dip over the last 24 hours. Yet, its weekly chart shows a 1.55% gain, with an impressive 11% climb over the past month. The token’s resilience signals strength, though volatility remains.

Meanwhile, Bitcoin has surged past $107,000, marking a new all-time high. Metrics highlight its network’s expansion—non-empty wallets hit 54.62 million, up 5.2% year-over-year. This bullish momentum often spills over into the altcoin market, offering tokens like Shiba Inu an opportunity for gains.

Shiba Inu’s growth isn’t solely tied to Bitcoin’s performance. The ecosystem is preparing for a series of groundbreaking initiatives aimed at solidifying its position in the crypto space.

Key developments include the expansion of SHIB Socials and SHIB DeFi platforms, which will broaden the utility and reach of the ecosystem. Additionally, the introduction of a dedicated SHIB Marketplace will enable decentralized commerce, creating a hub for peer-to-peer transactions.

The ecosystem also plans to roll out SHIB DAO, a governance framework designed to empower its community and give them a voice in decision-making processes. Further strengthening its infrastructure, the launch of SHIB’s stablecoin, SHI, is on the horizon, providing much-needed stability within the SHIB ecosystem.

These initiatives are catching fire within the SHIB community. If delivered successfully, they could fuel adoption and spark notable price movements.

Shiba Inu Price Forecast: Key Targets Ahead

Analysts at CoinCodex predict SHIB will climb to $0.00005 by December 20. This would mark an 86% surge from current levels, driven by positive sentiment and ongoing developments.

Looking further, forecasts suggest SHIB may dip slightly to $0.00002802 by year-end, before regaining momentum in January 2025. The Fear & Greed Index currently reads 83 (extreme greed), signaling heightened investor optimism. SHIB also recorded 60% green days in the past month, with volatility hovering around 8.90%.

Shiba Inu stands at a turning point. With Bitcoin’s record highs and SHIB’s ambitious roadmap, the token could secure its next big leap. Investors’ eyes remain fixed on December.

Chainlink’s (LINK) Explosive Path: $41.55 Soon, $63 Next

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  • LINK Surges 25%: Chainlink rose 25% this week, marking a 100% gain in the past month.
  • Whale Moves Fuel Optimism: $4.94M in whale purchases and $860M in open interest highlight investor confidence.
  • Price Projections Vary: Analysts predict $34 short-term, with highs of $63.08 possible by February 2025.

Chainlink (LINK) continued its impressive run this week, climbing 25% over the last seven days. Over the past month, LINK has surged nearly 100%, sparking bold price predictions as whales load up.

Crypto analyst Alan Santana foresees LINK hitting $60 by year’s end, provided key levels are broken. Santana highlights immediate resistance at $32 and $35. Surpassing these could push LINK to $47, then $53, and finally $61. Such a move represents a 200% rally.

Not everyone shares Santana’s optimism. Analyst Ali Martinez predicts a modest target of $34, conditional on LINK holding above $30.4. This aligns with Bitcoin’s rise, which reached $105,000 this week, lifting altcoins like LINK alongside it.

Chainlink Whale Activity and Metrics

Whale interest in LINK remains strong. On December 12, a whale wallet spent $4.94 million to acquire 175,424 LINK tokens. Whale buying coincided with LINK breaching $30, further driving momentum. Open interest in LINK futures also soared, reaching $860 million.

Despite these bullish signals, a 200% surge in the final two weeks of 2024 appears unlikely. Analysts at CoinCodex predict LINK will hit $41.55 by January 17, 2025, and an all-time high of $63.08 by February 21, 2025. This represents a 136.5% rally from current levels.

Chainlink’s rise hinges on Bitcoin’s continued strength and broader altcoin momentum. While $60 remains a stretch for 2024, LINK’s technical indicators and whale activity suggest it could hit fresh highs in early 2025.

RLUSD Set to Launch with $66M Backing, NYDFS Approval

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  • RLUSD launches Tuesday on major exchanges, backed by $66M in minted tokens and NYDFS approval.
  • Ripple plans multi-chain expansion, with Hoskinson hinting at Cardano integration.
  • Positioned as a compliant alternative, RLUSD aims to challenge USDT and USDC dominance.

Ripple’s RLUSD stablecoin has earned praise from Cardano founder Charles Hoskinson, who called the project “awesome” in a recent social media post. His comment arrives as Ripple USD gears up for its official launch this Tuesday.

First announced in April, RLUSD is set to debut on major platforms, including Bitstamp. The launch comes on the heels of regulatory approval from the New York State Department of Financial Services (NYDFS). This green light solidifies RLUSD’s status as one of the few fully regulated stablecoins in the market.

According to data from CryptoQuant, nearly $66 million worth of RLUSD tokens have been minted in the past two weeks. Ripple’s ambitious stablecoin will initially operate on the XRP Ledger and Ethereum blockchains. Ripple has also confirmed plans to expand to additional networks. Notably, Hoskinson hinted at integrating Ripple USD into Cardano, further amplifying the project’s reach.

RLUSD Competing with Giants

Ripple USD enters a market dominated by Tether (USDT) and USDC, two behemoths in the dollar-backed stablecoin space. Ripple CEO Brad Garlinghouse, however, remains confident. He predicts growing demand for regulated tokens, positioning Ripple USD as a compliant alternative. Jack McDonald, Ripple’s stablecoin lead, called Ripple USD the “gold standard of compliance”, emphasizing its role in instant settlement, collateralization, and DeFi integration.

Hoskinson’s support comes after a recent meeting with Brad Garlinghouse, where he praised the Ripple CEO as “extremely collaborative.” Their shared enthusiasm signals broader cooperation between Ripple and Cardano, potentially driving adoption of RLUSD across ecosystems.

With its regulatory clarity, early exchange support, and multi-chain strategy, Ripple USD is poised to disrupt the stablecoin market. The $66 million minted so far underscores growing investor confidence. Still, competition with giants like Tether and USDC will be fierce.