Bitcoin Sees Major Movement as 49,700 BTC From Dormant Wallets Resurfaces

Nearly 50,000 Bitcoin (BTC) previously held in dormant wallets for six to twelve months were moved today, raising concerns about potential market volatility. The significant transfer, totaling 49,700 BTC, has drawn attention from analysts, who warn that it could trigger selling pressure in the coming days. The movement of long-dormant Bitcoin is often seen as an indicator of shifting market dynamics. Analysts suggest that such large transactions may lead to panic selling among retail investors, potentially driving down prices before a rebound. Market Reaction and Possible Bitcoin Price Fluctuations Historically, significant movements of dormant Bitcoin have influenced price action. If the transferred BTC is liquidated, it could increase supply in the market, leading to short-term price declines. This, in turn, might prompt retail investors to sell at lower prices, creating an opportunity for larger players to repurchase at a discount. Some analysts have speculated that these movements could be linked to market manipulation strategies, where large holders sell Bitcoin to trigger a decline and then buy back at lower prices. However, there is no direct evidence supporting this claim. Investors Urged to Monitor Market Trends Given the potential for heightened volatility, market participants are advised to closely monitor Bitcoin price trends and trading volumes in the coming days. Analysts suggest that investors should remain cautious and avoid making impulsive decisions based solely on short-term price movements. As the cryptocurrency market remains sensitive to large transactions, the coming days will likely provide further clarity on the impact of this significant BTC transfer.
Crypto Liquidations Surge Amidst Market Volatility

Over the past 24 hours, the combined crypto market has witnessed over $452 million in liquidations, affecting more than 160,000 traders. This wave of liquidations comes as Bitcoin continues its relentless march towards $100,000, while altcoins like Dogecoin experience dramatic price swings. Bitcoin’s Ascent Fuels Liquidations Bitcoin’s recent price rally has been a key driver of the increased liquidations. As the leading cryptocurrency approaches the $100,000 mark, traders are making leveraged bets on its future direction. This has led to significant losses for those caught on the wrong side of the market. Data from Coinglass shows that short traders, who bet against Bitcoin’s price, have been particularly hard hit. Over $91 million in short positions have been liquidated in the past 24 hours. Meanwhile, compared only $26 million in long positions has been liquidated. This suggests that many traders underestimated Bitcoin’s upward momentum and had to close their positions at a loss. The actions of firms like MicroStrategy and Metaplanet, which continue to accumulate Bitcoin, are further fueling the price surge and contributing to the liquidation frenzy. With sustained demand and limited supply, Bitcoin’s price trajectory remains uncertain, but analysts predict a potential short-term surge above $100,000, which could trigger even more liquidations. Dogecoin Traders Feel the Heat While Bitcoin’s volatility has taken center stage, altcoins are also experiencing significant price swings, leading to substantial liquidations. Dogecoin, a popular meme coin known for its unpredictable price action, serves as a prime example. Dogecoin recently experienced a sharp price spike followed by a rapid decline. The result was over $25 million in liquidations within 24 hours. Both long and short traders paid the price, highlighting the risks associated with leveraged trading in volatile altcoin markets. The influence of social media personalities like Elon Musk, whose tweets often spark Dogecoin price movements, further contributes to the coin’s volatility and the potential for liquidations. The recent surge in crypto liquidations reminds us of the inherent risks in leveraged trading, especially during periods of heightened market volatility.
Bitcoin Likely to Hit $100K Within The Next 3 Months — 10X Research

All indicators and current happenings around the globe point to the fact that Bitcoin is poised to spike in price. However, the extent of this imminent price surge continues to be a subject of debate, with many analysts sharing varying forecasts. One of the most recent predictions is the one by crypto research firm 10X Research. According to 10X, all things being equal, Bitcoin is likely to attain the $100,000 price level by January 2025. Meanwhile, BTC price target that the firm has set is based on its prediction model, which recently triggered two buy signals. As 10X claims, the model has been 86.7% accurate for the last 15 signals. So, though the prediction appears a little ambitious, a price surge of at least some considerable amount might be certain. Still, the researchers are standing by their 6-figure price prediction. The explanation, as detailed in the official report, reads: “When Bitcoin sets a new six-month high for the first time in 6 months like it did recently, we typically see a median return of 40% over the next 3 months.” If these calculations are anything to go by, then a 40% rise from the current market price of $73,000 will see BTC surpass $101,000 by January 27, 2025. Then there is the “Bitcoin black hole effect.” Value keeps flowing out of altcoins into Bitcoin, continually establishing the dominance of the flagship cryptocurrency. Institutional Investors Rally Behind Bitcoin As many predictions suggest, a bull run might even already be playing out. However, now more than ever, institutions such as BlackRock are getting more involved. The 10X Research report suggests that the growing interest from institutions is because they now also see BTC as a great store of value. This explains the massive amounts of institutional investments that has been flowing into the coin.For context, the spot Bitcoin exchange-traded funds (ETF) market attracted $4.1 billion worth of BTC in October alone.
Bitcoin Nears Record High at $71,500 amid Bullish Market Momentum

The flagship cryptocurrency surpassed the $70,000 mark on Monday.
Bitcoin Search Interest Hits Lowest Level in a Year Despite Price Surge

Experts have assured that the lower search volumes do not necessarily mean that a bearish market is approaching for Bitcoin.
Crypto Market Surges as China Stimulates Economy with Debt Ceiling Hike

The crypto market is buzzing with renewed hope following China’s latest effort to introduce major economic stimulus measures. China recently announced raising its debt ceiling, and that may have jolted the global crypto market back to life. That is, after putting up what might be called a lacklustre display over the past few days. Bitcoin (BTC) led the rally, gaining over 3% and seen trading at $62,700 with a market cap of $1.239 trillion. The gains follow a week of volatility that saw the flagship cryptocurrency dip below the $60,000 mark due to rising U.S. inflation data. By deciding to increase its debt issuance, however, China may have just injected more liquidity into the global markets. This move appears to be driving the new optimism that is evident among investors. For China, its decision borders on the need of the government to boost economic growth and offer support to various sectors, including low-income citizens and the struggling property market. Bitcoin Whales and Altcoins Join the Rally As the recent surge in Bitcoin’s price suggests, there is an ongoing accumulation from large investors, otherwise known as whales. Since March, whales have added 1.5 million Bitcoins to their holdings, representing about 7% of the total supply. In addition to that, institutional interest is also currently on the high side, with Bitcoin exchange-traded funds (ETFs) now controlling more than 5% of the total supply. All these may be contributing to Bitcoin’s recent surge. However, Bitcoin is not the only beneficiary of China’s effort to boost the economy. Altcoins are also on hand and actively partaking in the market rally. Ethereum (ETH) has gained 1.65%, while Binance Coin (BNB), Solana (SOL), and Dogecoin (DOGE) have all posted gains of around 3%. Analysts remain strong on the opinion that Bitcoin could reach $90,000 by the end of 2024. That is, considering that the global monetary supply (M2) continues to expand. More Optimism for The Crypto Market China’s finance minister, Lan Foan, has revealed plans for comprehensive debt issuance. However, there are no official statements as to the exact figures.Nonetheless, reports suggest that China may inject up to $283 billion into its economy.
US Bitcoin ETFs, BTC Price, Plummet amid Ongoing Middle East Crisis

On Tuesday, the market recorded a net outflow of over $242 million.
Bitcoin Unlikely to Surge Before US Elections, Historical Data Suggests

Experts have observed what appears to be a recurring pattern in Bitcoin’s behaviour in the last three election cycles.
Crypto Market Plummets 15% in Single Day: Largest Drop Since January 2022

The total market capitalization shed more than 15% of its value over the past 24 hours to hit approximately $1.82 trillion.
Michael Saylor Says BTC Price Could Hit $1.3M

Saylor’s latest comments have sparked discussions among investors, amid an ongoing rally in the broader cryptocurrency market.