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Reading: Markets React as Bitcoin Holds Steady at $104,500
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COINTURK NEWS > Cryptocurrency News > Markets React as Bitcoin Holds Steady at $104,500
Cryptocurrency News

Markets React as Bitcoin Holds Steady at $104,500

In Brief

  • Bitcoin is steady at $104,500 while altcoins struggle.

  • Experts provide mixed predictions for the crypto market's near future.

  • Analysts emphasize cautious strategies amid market volatility.

Fatih Uçar
Fatih Uçar 1 year ago
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Bitcoin (BTC) $75,226 is currently priced at $104,500, while altcoins are struggling, showing negative trends. Trump has yet to provide clear signals regarding cryptocurrencies, leaving the market in uncertainty. The temporary appointment of Uyeda as SEC Chair is seen as a positive development for crypto enthusiasts, but its impacts are not yet visible in market charts. So, what are experts saying about the future of cryptocurrencies?

Contents
Expectations in CryptocurrenciesJelle and Investment Strategy

Expectations in Cryptocurrencies

ETH seems to be stuck at $3,300, showing little movement despite significant developments over recent months. This stagnation is dampening excitement in the altcoin sector. Historically, ETH prices soared to new records, drawing more investment into altcoins, yet the majority remain indifferent to Bitcoin’s potential climb to $110,000.

Moustache remains optimistic, believing that due to the setup in the USDT market dominance chart, we may see an upward trend.

“Thus, I believe the cycle is not over yet. USDT.D is progressing through a Wyckoff Distribution Schema. Mark-down is the next stage, which means crypto will rise.”

Columbus shared his predictions regarding future market behavior:

“These are volatile days, and today will continue in the same vein. American markets were closed yesterday due to Martin Luther King Jr. Day, but today volume will increase.

Trump did not mention crypto in his first speech, which is not a bad thing – it didn’t turn into excessive news selling. Simultaneously, he is buying altcoins through his company and releasing memecoins. What further confirmation do we need for a bullish few weeks ahead? Once the initial focus on high-volume coins and Trump memes wanes, capital will start flowing into lower-volume coins currently struggling due to high liquidity.

Bitcoin must ideally establish a clear higher low above $100,000 or the trendline to explore new peaks.

Invalidation of the bullish scenario: a close below $91,000/$89,000.”

Jelle and Investment Strategy

A crypto analyst acknowledged his inability to predict market peaks accurately as a bullish trend begins. Consequently, he has started selling regular profits, liquidating 2% of his BTC and SOL holdings each week.

As of now, the analyst claims to have secured six times his initial investment, anticipating cautious strategies rather than large gains.

You can follow our news on Telegram, Facebook & Coinmarketcap & X
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

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Fatih Uçar 21 January, 2025 - 8:05 pm 21 January, 2025 - 8:05 pm
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