After surging past $90,000 for the first time on November 12, 2024, Bitcoin (BTC) has been trading within a broad range between $91,000 and $108,000. However, some analysts remain optimistic that BTC is poised to break out of this range to the upside following what they describe as a ‘final capitulation.’ Bitcoin Consolidation Nearing Its End? Crypto analyst Trader Tardigrade recently shared their analysis of Bitcoin’s price action on X. According to the analyst, BTC might be approaching a final capitulation before experiencing a significant breakout that could end its prolonged range-bound movement. The analyst commented: The current crypto market sentiment isn’t great. I’d actually welcome a downturn in the next couple of days to complete this price action. Bitcoin experienced a final capitulation at the 27th bar during consolidation in January 2024, just before a massive rebound. If history repeats, the final capitulation level will be reached today or tomorrow. After that, BTC will surge with a massive rebound. Related Reading: MARA CEO Advocates “Invest And Forget” Approach To Bitcoin, Citing Strong Historical Performance To support their prediction, Trader Tardigrade shared a chart comparing Bitcoin’s current price action with its behavior in January 2024. During that period, BTC consolidated for 53 days, underwent a final capitulation, and then rallied sharply, climbing from around $39,000 to as high as $71,000. Interestingly, Bitcoin’s current consolidation phase has already lasted over 50 days. If BTC follows its January 2024 pattern, the final capitulation could occur on January 13 or 14. Another crypto analyst, @CryptosBatman, pointed to tightening Bollinger Bands on Bitcoin’s three-day chart. They highlighted that the Bollinger Bandwidth has reached an extremely oversold level and remarked: Historically, such lows signal a local bottom. Remarkably, the bandwidth is now tighter than when Bitcoin was at $50K, suggesting the bottom might be very close. For the uninitiated, Bollinger Bandwidth is a metric derived from Bollinger Bands that measures the distance between the upper and lower bands relative to the moving average. It is often used to identify periods of low volatility, which can signal potential breakout opportunities. Crypto Analysts Foresee A Positive 2025 While Bitcoin’s ongoing consolidation phase might frustrate bulls, many analysts remain confident that digital assets will benefit from multiple favorable factors in the coming months. Related Reading: Trump-Fuelled Bitcoin Rally May Fade Ahead Of January FOMC Meeting: Report For instance, crypto entrepreneur Arthur Hayes recently predicted that BTC may rally in Q1 2025 on the back of the US Federal Reserve’s (Fed) decision to inject fresh liquidity into the US economy through money printing. Similarly, crypto analyst Dave The Wave has forecasted that BTC is likely to hit a peak during summer 2025. At press time, BTC trades at $96,424, up 4.9% in the past 24 hours. Featured image from Unsplash, Charts from X and TradingView.com
Ethereum price started a minor recovery wave above the $3,120 zone. ETH is rising and facing hurdles near the $3,240 zone. Ethereum started a minor recovery wave above the $3,120 zone. The price is trading above $3,200 and the 100-hourly Simple Moving Average. There is a short-term contracting triangle forming with resistance at $3,240 on the hourly chart of ETH/USD (data feed via Kraken). The pair could struggle to start a fresh increase above the $3,240 resistance level. Ethereum Price Aims Higher Ethereum price started a recovery wave above the $3,050 level like Bitcoin. ETH was able to clear the $3,080 and $3,120 resistance levels to move into a short-term positive zone. The price even cleared the 50% Fib retracement level of the downward move from the $3,334 swing high to the $2,920 low. However, the bears are active near the $3,220 and $3,240 levels. There is also a short-term contracting triangle forming with resistance at $3,240 on the hourly chart of ETH/USD. Ethereum price is now trading just above $3,200 and the 100-hourly Simple Moving Average. On the upside, the price seems to be facing hurdles near the $3,230 level. It is near the 76.4% Fib retracement level of the downward move from the $3,334 swing high to the $2,920 low. The first major resistance is near the $3,240 level. The main resistance is now forming near $3,330. A clear move above the $3,330 resistance might send the price toward the $3,450 resistance. An upside break above the $3,450 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $3,500 resistance zone or even $3,550 in the near term. Another Decline In ETH? If Ethereum fails to clear the $3,240 resistance, it could start another decline. Initial support on the downside is near the $3,180 level. The first major support sits near the $3,120. A clear move below the $3,120 support might push the price toward the $3,050 support. Any more losses might send the price toward the $3,020 support level in the near term. The next key support sits at $2,920. Technical Indicators Hourly MACD – The MACD for ETH/USD is losing momentum in the bullish zone. Hourly RSI – The RSI for ETH/USD is now above the 50 zone. Major Support Level – $3,120 Major Resistance Level – $3,240
Bitcoin price is attempting a recovery wave above the $93,200 zone. BTC is rising and might face resistance near the $97,500 zone. Bitcoin started a recovery wave above the $95,000 zone. The price is trading above $95,500 and the 100 hourly Simple moving average. There is a connecting bullish trend line forming with support at $96,000 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could start another increase if it stays above the $95,450 support zone. Bitcoin Price Regains Traction Above Below $95K Bitcoin price started a short-term recovery wave above the $92,000 zone. BTC was able to climb above the $93,500 and $94,200 levels. The bulls were able to push the price above the key barrier at $95,800. The price even cleared $97,000. A high was formed at $97,431 and the price is now consolidating gains and is well above the 23.6% Fib retracement level of the upward move from the $89,115 swing low to the $97,431 high. There is also a connecting bullish trend line forming with support at $96,000 on the hourly chart of the BTC/USD pair. Bitcoin price is now trading above $95,000 and the 100 hourly Simple moving average. On the upside, immediate resistance is near the $97,450 level. The first key resistance is near the $98,000 level. A clear move above the $98,000 resistance might send the price higher. The next key resistance could be $98,800. A close above the $98,800 resistance might send the price further higher. In the stated case, the price could rise and test the $100,000 resistance level. Any more gains might send the price toward the $102,500 level. Another Drop In BTC? If Bitcoin fails to rise above the $98,800 resistance zone, it could start a fresh decline. Immediate support on the downside is near the $96,000 level and the trend line. The first major support is near the $94,500 level. The next support is now near the $93,200 zone or the 50% Fib retracement level of the upward move from the $89,115 swing low to the $97,431 high. Any more losses might send the price toward the $92,000 support in the near term. Technical indicators: Hourly MACD – The MACD is now gaining pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level. Major Support Levels – $96,000, followed by $94,500. Major Resistance Levels – $97,450 and $98,800.
Solana (SOL) finds itself at a crucial juncture following a volatile day of trading. The price plunged over 11%, briefly dipping below the $170 mark before staging an impressive recovery. In just a few hours, SOL managed to reclaim the $182 level, a critical demand zone that has proven to be a key area of interest for investors. Related Reading: Ethereum Is Forming A 1-Hour Symmetrical Triangle – Bullish Breakout Or Deeper Correction? Top analyst Jelle shared a technical price chart highlighting Solana’s resilience during this turbulent period. According to Jelle, SOL took out its recent lows, successfully retested the 200-day exponential moving average (EMA), and ultimately closed the day above all significant key levels. This pattern indicates potential strength in the market and raises the question: what’s next for Solana? Investors and traders are eyeing the next move as Solana consolidates above its critical demand zone. Will Solana leverage this recovery to push toward new highs, or will bearish pressure take over again? The coming days will be pivotal in determining the trajectory of this market leader. Solana Shows Strength After Weeks of Selling Pressure Solana (SOL) is displaying renewed strength after enduring a 36% decline from its all-time high of $264 in late November to yesterday’s low of $168. The sharp drop followed weeks of consistent selling pressure, leaving investors uncertain about the immediate future. However, optimism is beginning to return as SOL shows signs of resilience. Top analyst Jelle shared a technical analysis on X, highlighting Solana’s impressive recovery in recent price action. According to Jelle, SOL took out its recent lows, retested the 200-day exponential moving average (EMA) successfully, and closed the day above all critical levels. This behavior suggests that buyers are stepping in at key support zones, providing a much-needed lifeline to the price. Jelle also points out that reclaiming the $210 mark could set the stage for Solana to challenge its previous highs. While optimism builds following yesterday’s rebound, caution is warranted as further consolidation or retests of support levels remain possible. The market’s next phase will largely depend on whether Solana can maintain its newfound momentum. Related Reading: Chainlink Forms A Daily Bullish Pattern – Top Analyst Eyes Breakout To $30 As SOL continues to stabilize, investors are keeping a close eye on critical resistance levels, particularly the $210 mark, which could signal the start of a new bullish trend. However, with lingering risks, the coming days will be crucial in determining Solana’s ability to sustain its recovery and potentially move toward new highs. Price Action: Testing Crucial Levels Solana (SOL) is trading at $186, showing signs of stabilization after a sharp recovery from its recent lows. However, the price has yet to confirm a breakout above the $192 level, a critical resistance zone that bulls need to reclaim to shift market sentiment and potentially change the current trend. A successful reclaim of the $192 mark would signal strength and open the door for further upside. The next significant target for SOL would be breaking above the local high near $223, which could pave the way for a broader bullish trend. Such a move would likely attract renewed investor interest and signal that the market is ready for a sustained rally. On the flip side, failing to reclaim the $192 level could expose Solana to downside risks. In such a scenario, the price may revisit lower demand zones, potentially testing support levels around $170. This would extend the consolidation phase and delay any significant upward momentum. Related Reading: XRP Scores A Lower High Break On Daily – ATH Next? The next few days will be crucial for SOL, as bulls and bears battle for control at these pivotal levels. Traders and investors should watch closely to determine whether Solana can overcome resistance or faces further consolidation. Featured image from Dall-E, chart from TradingView
Bitcoin (BTC) witnessed a sharp decline below $90,000 yesterday, sparking concerns about its near-term stability. However, the cryptocurrency has since rebounded, trading back above $96,000 at the time of writing. This rapid recovery has drawn the attention of market analysts who are examining the underlying trends driving Bitcoin’s price movements. Related Reading: Rebound Alert: US Bitcoin ETF Interest Picks Up Speed In 2025 Is Bitcoin’s Surge Above $96k A Stop Hunt? A CryptoQuant contributor, Mignolet, shared an analysis highlighting the recent price dynamics. According to the analyst, the recent drop in BTC to $89,000 and the current recovery was triggered by the breaking of a key short-term support level. Mignolet revealed that this pattern, referred to as “stop hunting,” occurs when price movements break support levels temporarily before recovering. Despite the recovery, Mignolet emphasizes that a true trend reversal would require stronger involvement from key market participants. Mignolet’s analysis points to significant selling activity among whale entities, as observed in Coinbase Premium Gap (CPG) data. Typically, buying whales step in to absorb such dips, creating notable market volatility. However, this time, such activity was absent, raising questions about the sustainability of the ongoing rebound. Additionally, Binance’s market-buy ratio data suggests that large-scale buyers on the exchange have not capitalized on the recent price movement, indicating cautious sentiment among key players. Further evidence disclosed by Mignolet comes from the exchange-traded fund (ETF) daily inflow and outflow data, which is yet to confirm any major shifts in market dynamics. While the daily candle pattern suggests a meaningful move, the lack of participation from whales could limit Bitcoin’s ability to sustain a long-term reversal. Mignolet also warned that market sentiment might shift too quickly to optimism without clear supporting data. The analyst noted: While the candle pattern signifies a meaningful move, the major players are not capitalizing on the opportunity. What concerns me more is that many people’s sentiment may quickly shift to a sense of relief too soon. Bitcoin Market Performance After seeing a notable plunge in price yesterday dropping below $90,000 and triggering a total liquidation of over $300 million in the crypto market, Bitcoin is finally seeing a noticeable reversal in its bearish trend. Particularly, over the past day, Bitcoin has increased by 5.6% bringing its price to trade at $96,351, at the time of writing. However, despite this increase, the asset is still roughly a 10.8% decrease away from its peak above $108,000 recorded last month. While Mignolet’s analysis suggested that Bitcoin bearishness might not be over yet, it is worth noting that the asset’s current recovery coincides with reduced selling activity from long-term holders. Related Reading: Could Bitcoin Hit Its Peak In Summer 2025? Analysts Weigh In In a separate analysis, CryptoQuant contributor Darkfost revealed that the net position change of long-term holders (LTHs) over the past 30 days remains negative but shows signs of improvement. From a low of -827,000 BTC on December 5, the figure has improved to -246,000 BTC. This reduction in selling pressure suggests that LTHs are less inclined to sell at current price levels as Bitcoin’s price declines. However, Darkfost noted that for bullish momentum to regain strength, LTHs would need to shift toward accumulation rather than reducing sales. Featured image created with DALL-E, Chart from TradingView
The current market action of Ethereum has generated significant interest, especially among its large investors. A whale liquidated 10,070 ETH, resulting in an approximate loss of $1 million. The sell-off transpired as Ethereum’s price faltered in sustaining momentum, hovering around $3,280 during the transaction. Related Reading: Rebound Alert: US Bitcoin ETF Interest Picks Up Speed In 2025 A Whale’s Desperate Maneuver The decision to sell a large amount of ETH is notable. This particular whale knows the market well; it took out 24,029 ETH from Binance a few weeks ago, which is worth about $81 million. Even with this new deal, the whale still has 13,959 ETH, which is worth about $45 million. The speed with which this sell-off has been carried out suggests that there may be underlying factors influencing their strategy. Whales are dumping $ETH at a loss! 9 hours ago, 3 wallets(likely belonging to the same whale) sold 10,070 $ETH for 33M $DAI at $3,280, losing $1M. This whale withdrew 24,029 $ETH($81.3m) from #Binance via 10 new wallets 3 weeks ago and currently holds 13,959 $ETH($45.48M).… pic.twitter.com/5lqFegRu3i — Lookonchain (@lookonchain) January 13, 2025 Bringing Down Market Sentiment The crypto market as a whole is unstable, and Ethereum’s price is following suit. The value of ETH has dropped by 2.50% in the last 24 hours, and it is now worth about $3,177. This drop is the lowest price level in a week and shows why investors are worried about their assets. The mood in the market is changing from excitement to caution as many traders get ready for more price retreats. The Broader Perspective There are other instances of this sell-off. Other prominent players in the Ethereum ecosystem are also unloading their holdings. As part of a systematic transfer strategy, TRON founder Justin Sun recently sent about $320 million in Ethereum to exchanges. These actions suggest that many whales are responding to market conditions by selling their holdings rather than holding onto them in anticipation of potential future gains. Analysts remain somewhat confident in spite of these sell-offs and the overall negative trend. Some predict that Ethereum might hit all-time highs—possibly surpassing $10,000 by the middle of 2025—if market sentiment improves and selling pressure lessens. This optimistic outlook is contingent upon future developments and innovations within the Ethereum ecosystem. Related Reading: Litecoin Price Falters Amid Doubts Over LTC ETF Approval Anticipated Advancements Ahead Ethereum remains appealing to developers and long-term investors. With so many upcoming updates, there is increasing optimism that these advances, which include usability-oriented changes, will increase network confidence. Vitalik Buterin, one of Ethereum’s co-founders, has also advocated for integrating cutting-edge technology like artificial intelligence into Ethereum to increase its appeal. Despite recent price swings, whales continue to express cautious but steady interest in Ethereum. Investors and analysts are closely monitoring its trajectory due to continuous changes and changing market conditions, as there is still a large chance for a rebound. Featured image from Pexels, chart from TradingView
Crypto analyst MadWhale has revealed where the Bitcoin price could be headed next, having correctly predicted the BTC crash to $89,000. The analyst also explained why the flagship crypto’s current outlook is bullish, which could lead to further gains. Where The Bitcoin Price Is Headed Next In a TradingView post, MadWhale predicted that the Bitcoin price could record a 17% gain and rally to a new high of $110,000. The analyst explained that the outlook for the crypto market is largely positive. He added that there is again a surge in market volume after the usual holiday lull, which often causes temporary price drips. Related Reading: XRP Price Breaks Out Of Symmetrical Triangle Pattern, Why The Target Is $8 MadWhale further remarked that this increase signals renewed interest from investors, which is a bullish sign and could indicate rising prices soon. In line with this, he predicted that the Bitcoin price might be on track to hit new all-time highs (ATHs). From a technical perspective, the analyst noted that the charts show solid support levels. This suggests that upward momentum could continue, leading to this potential gain of 17% for the flagship crypto. The analyst’s accompanying chart showed that the projected Bitcoin price rally to $110,000 could happen this month. This prediction undoubtedly provides some optimism, considering the recent BTC crash. Bitcoin dropped to as low as $89,000 yesterday amid the uncertainty in the market. This market uncertainty has been due to developments on the macro side, such as the December jobs data. Following the strong US job data, traders predict there will be only one Fed rate cut this year, which is bearish for the Bitcoin price and the broader crypto market. On the other, Donald Trump’s inauguration provides a bullish outlook for the flagship crypto. Trump has promised to create a Strategic BTC Reserve, which is bullish for the Bitcoin price, as it could lead to widespread nation-state adoption of the flagship crypto. A Bullish Reversal Is Already In Play Crypto analyst Jelle suggested that a bullish reversal is already in play for the Bitcoin price. He mentioned that Bitcoin took out the main downside liquidity and immediately pushed back above $94,000. The crypto analyst added that the flagship crypto is now running into a resistance at its current level, with the 200-day Exponential Moving Average (EMA) and the level it has been struggling with for a while. Related Reading: Bitcoin Price Struggles With Liquidity Blocks From $86,000 To $104,000, Analyst Reveals The Logical Thing To Do Jelle predicted that a Bitcoin price breakout above $97,000 could lead to new highs for the flagship crypto. In another X post, he stated that BTC is pushing for a breakout from the weekly falling wedge. The crypto analyst added that the target of this formation is roughly $130,000. At the time of writing, the Bitcoin price is trading at around $96,300, up almost 4% in the last 24 hours, according to data from CoinMarketCap. Featured image created with Dall.E, chart from Tradingview.com
In a bold series of posts on X on January 14, prominent crypto analyst Miles Deutscher delivered a shocking forecast concerning the long-debated phenomenon of an altcoin season. His commentary quickly drew attention from crypto analysts, particularly as it appeared to challenge, rather than reinforce, the long-standing hopes of a 2021-style altcoin mania. RIP Crypto Altcoin Season? Deutscher began his post by acknowledging the renewed conversation within crypto circles on whether an “alt season” could come around again. He distinguished two different interpretations of the term altcoin season. “Will there ever be an ‘alt season’ again? Seeing a lot of discussion about this on the TL,” Deutscher noted. “Firstly, it depends on your definition of ‘alt season’. If you’re referring to the index, then yes, I expect it to spike again at some point this year.” Related Reading: Anthony Scaramucci’s 2025 Crypto Picks: Top Altcoins To Buy This Year However, he cautioned that a reoccurrence of the euphoric, multi-month surge experienced in 2021 would be exceedingly unlikely: “If you’re referring to the multi-month up-only mania of 2021, then no. The unique combination of QE/stimulus and V-shaped equities repricing created conditions that are almost impossible to replicate. Expecting that is a recipe for disaster. Key word here: ‘expecting.’” Deutscher’s overarching advice emphasized flexibility and preparedness rather than relying on extended bullish waves. He advocated for taking profits in what he expects to be comparatively short-lived rotations into altcoins—though he did acknowledge the possibility of a surprise rally: “If a larger ‘alt season’ DOES happen, great. That makes our job a lot easier, and complacency won’t be punished as much. Go in with the mindset of the rotation into alts being short-lived (this will force you to take profits). It may not actually be short-lived, but at least you’re securing profits.” Related Reading: Crypto Market Will Peak In Mid To Late March, Predicts Arthur Hayes He stressed that prudent strategies should consider “multiple mini-cycles or pockets of narrative outperformance,” underlining the importance of not hoping for a second coming of the 2021 market conditions. Deutscher’s advice ultimately hinged on portfolio construction and proactive trading: “Instead of holding everything and everything, have a more concentrated basket of high-conviction assets. Juxtapose those holdings with the willingness to trade in profitable playgrounds (i.e. AI) – but treat them as trades, don’t bag hold.” Deutscher’s comments came in response to a statement from crypto influencer Ansem, who had asserted: “No alt szn ever again. Pockets of extreme outperformance always there, with people moving down the risk curve in cyclical terms but never to the level as before. What’s the real reason BTC.d doesn’t have to go up and to the right for a decade straight?” While both analysts believe that a 2021-style altcoin season seems highly unlikely, they highlight the still existing opportunities in this bull run. “Specific assets/sectors are going to have crazy runs when conditions allow it. Instead of holding everything and everything, have a more concentrated basket of high-conviction assets,” Deutscher concludes. At press time, total crypto market cap excluding Bitcoin (TOTAL2) stood at $1.34 trillion. Featured image created with DALL.E, chart from TradingView.com