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

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

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:

• Bitcoin Surges Above $95,500 In 2024 Closing Day: What’s Next?
• New Year, New Strategy: Buy Crypto Like You Buy Fine Wine In 2025 — Experts Share Resolutions
• Coinbase CEO Brian Armstrong Says A Stablecoin Integration On X Would Be ‘A Great Feature’
• Can Bitcoin as Legal Tender Reshape a Nation’s Economy? Lessons from El Salvador
• Elon Musk Changes His Name To ‘Kekius Maximus’ On X, Sending This Memecoin Skyrocketing Over 600%

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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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