On Friday, spot bitcoin (BTC) and ether (ETH) exchange-traded funds (ETFs) posted gains, reversing losses from the previous day. Approximately $908.10 million was poured into these ETFs, with dominant players like IBIT, ARKB, and FBTC securing the majority of the inflows. A Billion-Dollar Day: Bitcoin and Ether ETFs Deliver a Positive Ending to a Blockbuster […]
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The Bitcoin market experienced a modest recovery over the past week following the 15.7% correction in the latter half of December 2024. Amidst this recent price gain, developments from the short-term holders (STH) activity have revealed significant indications for Bitcoin in the coming days. Related Reading: Bitcoin Coinbase Premium Sinks To Lowest Since FTX Crash: Bottom In? Bitcoin STH MVRV At 1.1 With More Room To Run According to a recent X post, blockchain analytics firm Glassnode shared a data report on the Bitcoin short-term holders’ MVRV ratio in relation to market price. In crypto, the market value to realized value ratio (MVRV) is a critical analysis tool used to gauge whether an asset is overvalued or undervalued. It is also used to track the holders’ profitability with values above 1 indicating profit and below 1 meaning a loss. Based on Glassnode’s report, the Bitcoin STH MVRV ratio currently stands at 1.1 suggesting that short-term holders i.e. investors who acquired Bitcoin within the past 155 days, are on average, experiencing a 10% profit. Considering BTC’s price fall in recent weeks, there might be increased selling pressure as these holders move to realize their gains, leading to short-term price resistance. However, data from Glassnode indicates that the Bitcoin MVRV STH ratio previously reached peaks of 1.35 in November 2024, and 1.44 in March 2024. These MVRV values suggest that short-term holders may tolerate higher profitability levels before triggering a widespread sell-off. If Bitcoin bulls maintain the current price recovery with rising demand, the STH MVRV ratio could rise closer to these historical peak levels, which could signal a confirmation of Bitcoin resuming its market uptrend. Related Reading: On The Horizon: Bitcoin $140,000 Projection And SOL, XRP ETFs Approval In 2025 Crypto Forecast BTC Must Avoid Fall Below $87,000 – Here’s Why In relation to the Bitcoin STH MVRV ratio, it is understood that 1.0, which indicates no profit or loss, is a pivotal value acting as a support during bullish trends or resistance in a market downtrend. Glassnode report reveals that the current STH MVRV ratio shows that 1.0 corresponds with the $87,000 price zone. According to data from the Cumulative Bid-Ask Delta, there is an air pocket between $87,000 and $71,000 i.e. there is low trading activity or fewer significant buy orders in this price range. Therefore, if the price of BTC slips below $87,000, it will hit no significant support until $71,000 translating into a major price decline. At the time of writing, the premier cryptocurrency continues to trade at $98,081 reflecting a 1.02% gain in the past day. With a market cap of $1.94 trillion, Bitcoin continues to rank as the largest asset in the crypto market. Featured image from BBC, chart from Tradingview
President Trump has recently pushed the idea of tariffs as an enabler for the U.S. economy. On social media, he stated that tariffs were responsible for creating a “vast wealth” for the country and disclosed that they would be used to pay for the country’s debt. Trump: Tariffs Will Be Used to Pay the $36 […]
Crypto analyst Master Kenobi has provided insights into the current Dogecoin price action. The analyst revealed that the foremost meme coin was approaching the moving average (MA) line, which could lead to a new all-time high (ATH). Dogecoin Eyes ATH As Weekly RSI Approaches The MA Line In an X post, Master Kenobi revealed that Dogecoin’s weekly Relative Strength Index (RSI) is approaching the MA. He remarked that this is a crucial level that needs to be broken to confirm a continued upward movement. The crypto analyst added that if these barriers are cleared, then the current ATH of $0.74 becomes the next major point of interest for Dogecoin. Related Reading: XRP Price Prediction To $4.9: How The 1-Day 50 MA Will Drive The Next Wave As part of his Dogecoin analysis, Master Kenobi also noted that DOGE has had a solid week, although it is unlikely to close in the ATH zone. As part of the obstacles that DOGE needs to overcome, the crypto analyst highlighted a resistance that the foremost meme coin faces at the upper green trendline on his accompanying chart. This comes after DOGE successfully tested the lower green trendline two weeks ago. From a fundamentals perspective, the crypto analyst noted that Donald Trump’s reinstatement in the White House could serve as both an indicator and a significant catalyst for Dogecoin reaching its current ATH. Crypto analyst Kevin Capital also shared an analysis of what needs to happen for Dogecoin to reach and surpass its current ATH. First, he stated that the meme coin needs to break the macro golden pocket at $0.49, then the Fib .703 level at $0.53, and then a break above $0.59. The crypto analyst asserted that a clean break above $0.59 would pave the way for a new ATH for Dogecoin. DOGE Ready For Next Leg Up The Dogecoin price looks well-primed for the next leg of its bull run. In an X post, crypto analyst Trader Tardigrade revealed that a Dogecoin MACD bullish crossover has occurred on the daily chart. He added that the previous bullish crossover triggered a massive pump for DOGE when it soared from $0.11 to $0.43. Related Reading: Analyst Says Dogecoin Price Can Break To $0.48, But This Needs To Happen First The crypto analyst added that Dogecoin could record a similar rally again. His accompanying chart showed that DOGE could reach the much-anticipated psychological $1 level on this next leg up. In another X post, Trader Tardigrade mentioned that the meme coin has just entered distribution in the “Power of Three” (PO3) pattern. He added that this pattern makes $1 a reasonable target. Master Kenobi also recently predicted that Dogecoin could rally to as high as $1.2 if the meme coin breaks its ATH by the end of January. At the time of writing, the Dogecoin price is trading at around $0.38, up over 15% in the last 24 hours, according to data from CoinMarketCap. Featured image created with Dall.E, chart from Tradingview.com
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Bitcoin has a current market capitalization of roughly $1.9 trillion and surpassed silver’s $1.6 trillion market cap in 2024.
In an era where bitcoin (BTC) has become synonymous with substantial wealth, tales of its early days evoke both fascination and disbelief. Most are familiar with the now-legendary story of two pizzas purchased for 10,000 BTC—valued today at nearly $1 billion. However, the chronicles of bitcoin’s history are dotted with equally intriguing accounts of individuals […]
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Meme coins have added over $4 billion to their total market cap in the past 24 hours. Most coins are flashing green – with SPX and GIG being two of the biggest gainers. However, one well-known crypto expert believes the new Meme Index (MEMEX) project could be next for a breakout rally. Meme Coin Market […]
