Bitcoin, Ethereum, XRP, Dogecoin Trade Sideways On New Year's Eve

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Zinger Key Points

Cryptocurrency markets are trading relatively flat on New Year’s Eve, with Bitcoin exchange netflows significantly lower.

CryptocurrencyPrice   Gains +/-
Bitcoin BTC/USD $93,826-0.5%
Ethereum ETH/USD $3,354-1.0%
Solana SOL/USD $195.05+0.8%
XRP XRP/USD $2.09+0.4%
Dogecoin DOGE/USD $0.3184+0.2%
Shiba Inu SHIB/USD $0.00002124-1.1%

Notable Statistics:

  • IntoTheBlock data shows large transaction volume increasing by 48.2% and daily active addresses falling by 0.07%. Transactions greater than $100,000 are up from 7,678 to 10,479 in a single day. Exchanges netflows are down by 3,927.1%.
  • Coinglass data reports 85,767 traders were liquidated for $236.02 million.

Notable Developments:

Top Gainers:

CryptocurrencyPrice   Gains +/-
Virtuals Protocol VIRTUAL/USD $4.00+16.6%
Pepe PEPE/USD $0.00002043+11.0%
Mantra OM/USD $3.83+8.0%

Trader Notes: With Bitcoin prices relatively flat, CoinDesk analyst James Van Straten stated that this scenario is just as in the prior three cycles when Bitcoin saw corrections at this point after the halving.

Crypto trader Jelle predicts Bitcoin preparing for a larger move ahead.

More Crypto Online noted that Bitcoin’s price has moved upward as anticipated, with further short-term upside likely. However, the overall corrective pattern to the downside appears incomplete. The current movement aligns with the “yellow scenario,” and a break above $97,450 would further confirm this trajectory.

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