Zinger Key Points
- The global cryptocurrency market capitalization is up 0.8% to $3.3 trillion, despite a surge in Bitcoin whale transactions.
- One trader anticipates downward momentum as long as there is no Trump-related event triggering an upward rebound.
Cryptocurrency markets are trading sideways on a low-volume Monday.
| Cryptocurrency | Price | Gains +/- |
| Bitcoin BTC/USD | $94,335.84 | +1.2% |
| Ethereum ETH/USD | $3,399.26 | +1.7% |
| Solana SOL/USD | $195.53 | +2.1% |
| XRP XRP/USD | $2.11 | -0.8% |
| Dogecoin DOGE/USD | $0.32 | +1.9% |
| Shiba Inu SHIB/USD | $0.00002158 | -0.04% |
Notable Statistics:
- IntoTheBlock data shows large transaction volume increasing by 53.99% and daily active addresses falling by 0.07%. Transactions greater than $100,000 are down from 7,598 to 7,678 in a single day. Exchanges netflows are down by 25.5%.
- Coinglass data reports 111,449 traders were liquidated in the past 24 hours for $283.52 million. Bitcoin derivatives trading volume surged 142% in past 24 hours while open interest is up 3.3%.
Notable Developments:
- Dogecoin’s Tesla Integration, Pepe’s Monster Gains, Shiba Inu Drops A Zero: The 2024 Meme Coin Year In Review
- EXCLUSIVE: Janover To Accept Bitcoin Payments And Consider Crypto For Treasury Allocation
- European Central Bank Should Consider Bitcoin Reserve, Former German Finance Minister Says
- MicroStrategy Drops Another $209 Million On Bitcoin, Extends Buying Streak To 8 Weeks
- Donald Trump’s $9.9 Million Crypto Portfolio: Over 50% Growth Since September – How Many Cryptocurrencies Does Trump Own?
Top Losers:
| Cryptocurrency | Price | Gains +/- |
| Helium HNT/USD | $5.97 | -9.3% |
| MANTRA OM/USD | $3.54 | -5.6% |
| FTX Token FTT/USD | $3.52 | -4.8% |
Trader Notes: With Bitcoin prices trading relatively flat, crypto trader Jelle highlights that Bitcoin's 2023 price action follows a fractal pattern that may lead to a new local low.
While he's placing leveraged bids between $90,000 and $87,000 as a precaution, he remains indifferent on whether the fractal will fully develop.
In contrast, Michaёl van de Poppe maintains a bearish outlook in the short term, expecting further downside until a Trump-related event occurs, which he believes will trigger an upward reversal.
The $90,000 range is considered the optimal level for this movement.
Inverse Cramer expressed frustration, noting they had expected a Santa rally but instead saw a 10% sell-off in the crypto market.
CryptoCon views Bitcoin’s recent small correction after reaching $100,000 as a potential buying opportunity for the next phase of the bull run. They reference the Mayer Multiple, suggesting no major shift in the cycle pattern.
With the cycle low in 2022 and the mid-top expected in March 2024, the trader believes this mirrors previous cycles in 2013, 2017, and 2020, which eventually led to new all-time highs.
Despite Bitcoin's recent ATHs, CryptoCon believes 2025 will be the year when long-awaited gains will be realized.
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