bitcoinist.com

The Bitcoin price movements in the past 24 hours have sent the entire crypto market into another state of disarray and liquidations. Particularly, Bitcoin has witnessed a price crash of about 5% in the past 24 hours, which has seen it breaking below the $100,000 psychological price threshold again. Although Bitcoin eventually seems to be finding support around $96,000, the leading cryptocurrency is nonetheless down by about 10% in the past three days.

Interestingly, a technical analyst on the TradingView platform suggested that the Bitcoin decline is due to a broader trend in the investment markets, while also pointing to a potential price bottom during the current decline.

Bitcoin Price Declining Between Support Zones In Fibonacci Retracement Levels

Bitcoin’s current price action aligns closely with the Fibonacci retracement levels often used by traders to determine support and resistance. According to the TradingView analysis, the Bitcoin price is now within a retracement zone in the 4-hour timeframe between the 0.618 and 0.786 retracement levels from its recent all-time high of 108,135 which it achieved just three days ago. 

Historically, this range has acted as a strong support zone where Bitcoin has demonstrated a tendency to bounce back. The analyst highlights that Bitcoin’s love of bouncing up at the 0.786 level suggests the cryptocurrency might find a temporary bottom near this range, which is situated just below the $95,000 price level. 

As stated earlier, the Bitcoin price found support at $96,000, but Fibonacci retracements suggest it could further continue on the downside. The analyst suggested it could go down to around $93,800 as an overshoot. Any move lower, however, could risk a more significant collapse.

Correlation With Stock Index Sell-Offs

A key factor influencing Bitcoin’s recent decline is the sell-off in major U.S. stock indexes. Although the nature of the crypto industry is against that of the traditional finance world, the advent of Spot Bitcoin ETFs has led to a close relationship between the two. This has caused Bitcoin to become more sensitive to movements and sentiment in traditional markets.

As noted by the analyst, the S&P 500 Futures, Nasdaq Futures, and Dow Jones Futures all recently experienced a significant pullback from the 1.618 Fibonacci reverse extension levels on the weekly candlestick timeframe. This connection is further emphasized by data showing substantial outflows from Spot Bitcoin ETFs based in the United States. According to data from SosoValue, these ETFs witnessed $680 million in outflows on December 19 to break the trend of 15 consecutive days of inflows.

At the time of writing, the Bitcoin price is trading at $97,950, hovering just above the critical $96,000 support level. However, as stock indexes remain under bearish pressure, there is a risk that the Bitcoin price will continue to track these declines and maybe even bottom around $93,800 before regaining another momentum upwards.

Market experts have been heavily fixated on two altcoins awaiting their bullish trajectories. These are Dogwifhat (WIF) and IntelMarkets (INTL), which also draw in XRP investors. The bearish price trajectory of Ripple has compelled XRP investors to shift to these altcoins as they promise better gains than Ripple. Dogwifhat (WIF) is set to provide massive gains while INTL’s presale raise of $5 million acts like a magnet.

Ripple News: Is XRP Still A Good Investment?

Ripple’s native cryptocurrency, XRP, has been a standout performer in the crypto market, surging nearly 500% from $0.50 to $2.60 in recent months. Despite this remarkable growth, Ripple has come under fire in a video titled “Everything That’s Wrong With XRP,” sparking debate within the crypto community.

The author argued that XRP’s original role as a bridge currency for cross-border payments has been overshadowed by stablecoins, which offer more stability. Ripple’s recent launch of its stablecoin, RLUSD, has added fuel to this claim.

Ripple currently holds over 38 billion XRP tokens and has been selling them to fund operations. This centralization, according to the author, poses risks to XRP’s long-term value. The recent slump in the Ripple price has pulled the XRP token down by over 5%, making the experts believe that the XRP token is going to touch the $2 level.

Dogwifhat (WIF) Could Bounce From Support

Dogwifhat (WIF) is currently trending bearish, with key support levels at $3.00 and $2.89 and resistance zones at $3.20, $3.29, and $3.40. Technical indicators show Dogwifhat’s (WIF) Relative Strength Index (RSI) is at 43.2630, which is considered neutral.

WIF’s Commodity Channel Index (CCI) stands at -105.3984, signaling a buying opportunity for Dogwifhat (WIF), while its momentum is at −0.6793 and MACD level of −0.0634, hinting sell indications.

Meanwhile, Dogwifhat’s (WIF) growth to 100% depends on the coin’s ability to sustain bullish momentum, amplify its strong market interest, and ride the positive sentiment around Solana’s market performance.

Some analysts suggest that with Trump’s incoming administration in January 2025, the new term could most likely give a significant boost to the cryptocurrency market, as the president-elect is reportedly taking a pro-crypto stance.

Meme coins like Dogwifhat (WIF) have already proved they are strong contenders in the market, and with the potential “meme supercycle” approaching next year, Dogwifhat (WIF) could unlock more possibilities.

IntelMarkets (INTL): The AI Marketplace on Everyone’s Radar

IntelMarkets (INTL) is one of the most innovative projects this year through its AI-powered platform. IntelMarkets leverages artificial intelligence to bring traders real-time insights, predictive analysis, and automated strategies in trading. The Intell-M self-learning trading robots will allow users to process high volumes of data across multiple asset classes, giving them the edge over their competitors.

With features like up to 1000x leverage trading, automated robots, and exclusive trading opportunities, IntelMarkets is positioned as a powerhouse for traders looking for advanced solutions. Additionally, by using the INTL token, traders can get access to exclusive deals and copy trades from experts while paying lower fees.

One of the best performers in the year’s second half has been IntelMarkets. With over $5 million raised in the ongoing presale, its community of traders and investors is growing at a rapid pace. It exploded 700% from the initial price of INTL tokens, $0.009, to $0.073 in the 8th presale stage, outperforming other new ICOs. The platform’s AI-driven marketplace could transform the $264 billion crypto trading industry, with some experts predicting a 5x rally post-launch.

 

Discover More About IntelMarkets:

Presale: https://intelmarketspresale.com/

Buy Presale: https://buy.intelmarketspresale.com/

Telegram: https://t.me/IntelMarketsOfficial

Twitter: https://x.com/intel_markets

 

 

 

Shiba Inu has entered into a strategic partnership with Chainlink, according to a press release published in SHIB Magazine. This alliance will see Shibarium, Shiba Inu’s layer-2 (L2) blockchain network, integrating Chainlink’s Cross-Chain Interoperability Protocol (CCIP) as its canonical infrastructure for cross-chain communication, alongside the adoption of the Cross-Chain Token (CCT) standard for its native assets SHIB, BONE, and LEASH.

What The Shiba Inu And Chainlink Means

“We’re excited to announce that Shiba Inu and Chainlink are partnering to grow the Shiba Inu ecosystem,” reads the official press release. “Shibarium has integrated the Chainlink standard for blockchain interoperability as its canonical cross-chain infrastructure.” The move enables Shiba Inu ecosystem assets to be deployed across 12 blockchains.

Shibarium is built on top of Ethereum with a focus on scalability, speed, and cost efficiency. By adopting the CCT standard, the Shiba Inu ecosystem can now facilitate token transfers using a “lock-and-mint” mechanism for bridging from Ethereum and a “burn-and-mint” mechanism for cross-chain transfers beyond Ethereum. These approaches aim to ensure a controlled, secure, and verifiable means of moving value across multiple networks, all underpinned by Chainlink’s CCIP.

Johann Eid, Chief Business Officer at Chainlink Labs, emphasized the importance of the partnership in expanding cross-chain capabilities for Shibarium. “We’re excited to enter a partnership with Shiba Inu and grow its ecosystem together,” Eid stated. “The integration of Chainlink CCIP as Shibarium’s canonical cross-chain solution and Shiba Inu’s adoption of the CCT standard will enhance its capabilities and drive wide adoption of its ecosystem.”

Kaal, a Shiba Inu core developer, underscored the significance of adopting CCIP and the CCT standard: “Partnering with Chainlink, we’re not just choosing an industry standard—we’re setting a bold new course for the Shiba Inu ecosystem. By integrating CCIP and the CCT standard, SHIB, LEASH, and BONE will, for the very first time, span multiple chains with unparalleled security, reliability, and inbuilt burn mechanisms.”

From a technical perspective, Chainlink’s CCIP is designed to provide decentralized cross-chain messaging, secure token transfers, and programmability. The protocol’s security model leverages Chainlink’s decentralized oracle networks (DONs) to safeguard tokens and data as they move across chains. According to the release, Chainlink’s infrastructure has historically secured over $75 billion in DeFi total value locked (TVL) at its peak and facilitated more than $17 trillion in on-chain transaction value since the start of 2022.

In addition, Shiba Inu will also integrate Chainlink Data Streams for premium, high-frequency, low-latency market data. “Chainlink Data Streams supply premium high-frequency data […] with advanced features such as liquidity-weighted bid-ask spreads and sub-second execution speed,” the press release states. The objective is to enable more sophisticated decentralized finance (DeFi) applications on Shibarium, potentially attracting traders and liquidity providers seeking reliable, transparent data feeds.

As detailed in a related article by SHIB Magazine, the overarching vision behind this move is to create a more dynamic, interconnected blockchain environment. By leveraging Chainlink’s CCIP, Shibarium aims to connect with a broader “crypto universe” and facilitate the secure transfer of its ecosystem tokens across multiple chains. Notably, this cross-chain expansion also introduces a deflationary mechanism through which transaction fees across various supported chains are consolidated and utilized to “burn” tokens, potentially influencing the tokenomics of SHIB, BONE, and LEASH over the longer term.

Chainlink’s CCIP capabilities, including arbitrary messaging and programmable token transfers, allow developers to build cross-chain-native applications that can handle NFTs, lending protocols, and other data-driven functionalities. This technological convergence represents a bid to transform Shibarium from a single-chain solution into a robust, multi-chain network that can host diverse and sophisticated DeFi markets.

The ultimate impact of this multi-chain expansion will depend on developer adoption, user engagement, and the broader DeFi market’s response. While the outcome remains to be seen, the partnership’s stated goal is clear: to foster innovation, encourage widespread adoption of Shibarium’s tools, and establish the Shiba Inu ecosystem as a pioneering force in cross-chain interoperability and decentralized finance.

As Kaal noted, “This milestone paves the way for more innovative multi-chain applications, driving broader adoption and igniting a new era of growth and possibility for the Shiba Inu ecosystem.”

At press time, SHIB traded at $0.00002218.

Ripple (XRP) has long been a leader in the crypto space, with ambitious goals of reaching a $10 price point. However, shifting market trends and changing investor interests have cast doubt on whether XRP can achieve this milestone. Enter Lightchain AI (LCAI), a rising competitor that’s turning heads with its innovative approach and promising potential.

Currently priced at just $0.003, LCAI is gaining momentum, and many believe it could hit the $10 mark before XRP. With the Lightchain AI Presale already underway, investors are flocking to this new project, eager to get in on the ground floor. But what gives LCAI the edge over XRP? Let’s dive into the key factors driving its rapid ascent.

Ripple’s Roadblocks to Reaching $10

XRP is not new to big price hopes, with its group often wishing for large jumps. But, som͏e problems are in the way of XRP hitting the sought-after $10 spot

Rules doubt stays a big wall, as lasting law fights, mostly with the SEC, keep on putting a shadow over XRP’s time ahead. Also, the rising fight in crypto market brings another test.

With many new rules giving like or better payment and settling ways, XRP sees more market crowding. Also, XRP’s use relies much on banks’ wish to use its cross-border deal tech which has a slower take-up time.

This slow rise plan can soften the fast price increase many buyers wish for. Though hitting $10 is not unlikely, the way ahead is hard and unclear, making XRP less attractive to short- and middle-term buyers looking for big profits.

The Path from $0.003 to $10 Why LCAI Could Win the Race

For a token priced at $0.003, even incremental successes can trigger massive returns. While XRP would need a massive influx of capital and regulatory clarity to jump from its current price into double digits, LCAI enjoys a ground-floor advantage. Here’s why LCAI might get there first.

• Early-Stage Growth Potential If LCAI rises to $10 from $0.003, it represents an astronomical ROI. Such leaps are far easier for low-market-cap assets with untapped markets.
• AI Market Tailwinds AI adoption is accelerating globally, and a blockchain protocol that can facilitate AI-driven solutions is likely to gain rapid traction and enterprise interest.
• Investor Confidence in Utility Unlike speculative assets that ride on hype, LCAI’s focus on tangible use cases builds investor confidence. As milestones like mainnet launches and industry partnerships materialize, price appreciation could follow swiftly.
• Decisions by the People, for the People With Decentralized Governance Integration, we mix AI smarts with community-driven decision-making. Because two heads (or thousands) are better than one. 
• Built to Scale, Born to Perform Lightchain AI’s architecture is like a rocket—designed to handle massive transactions and computations without breaking a sweat. Perfect for any industry ready to launch. 
• Privacy Meets Fort Knox Your data is sacred. With top-tier privacy and security, Lightchain AI won’t just protect it—it’ll guard it like a treasure chest in healthcare and finance. 
• Global Brainpower Lightchain AI thrives on community. Developers worldwide contribute to constantly sharpen its AI game. Think of it as a giant brainstorm session—but with code.

How LCAI’s Technology Ushers in a New Era

As the crypto market matures, mere speed and low fees no longer suffice. Investors seek tokens that blend innovation, scalability, and real-world application—attributes that define LCAI. By uniting blockchain’s transparency and security with AI’s transformative power, LCAI sets the stage for a new class of dApps that could redefine what’s possible in decentralized ecosystems.

This broader scope allows LCAI to tap into diverse revenue streams and partnerships, expanding its influence beyond just payments and into the core operations of multiple industries. The resulting demand for LCAI tokens can drive price growth that not only matches but potentially outpaces the lofty ambitions set for XRP.

Shift in Investor Priorities

While XRP continues to eye $10, the market’s changing priorities and the rise of AI-powered solutions have paved the way for Lightchain AI (LCAI) to seize the spotlight. Its low initial price, practical applications, and advanced consensus model offer a compelling narrative for investors seeking exponential returns.

As technological and market conditions evolve, LCAI stands a strong chance of reaching $10 long before XRP manages to double its current price. For those who missed out on earlier crypto booms, this under-the-radar AI-blockchain hybrid could be the next big opportunity in a rapidly transforming digital landscape.

Don’t wait until it’s too late; get in on the LCAI presale now and join the revolution!  By investing in LCAI, you are not only supporting a groundbreaking project but also potentially positioning yourself for significant financial gains.

https://lightchain.ai

https://lightchain.ai/lightchain-whitepaper.pdf

https://x.com/LightchainAI

https://t.me/LightchainProtocol

 

Data shows the Bitcoin Coinbase Premium Index has plunged into the negative territory alongside the latest asset price downturn.

Bitcoin Coinbase Premium Index Is Currently In The Red Zone

As explained by an analyst in a CryptoQuant Quicktake post, the Coinbase Premium Index has seen a decline recently. The “Coinbase Premium Index” refers to an indicator that keeps track of the percentage difference between the Bitcoin price listed on Coinbase (USD pair) and that on Binance (USDT pair).

The value of this metric tells us how the buying or selling behaviors differ between the userbases of the two cryptocurrency exchange giants.

To be more specific, Coinbase’s main traffic is US investors, especially the large institutional entities, while Binance has users from around the world, so the indicator compares the behavior of the American whales with the global ones.

Now, here is a chart that shows the trend in the Bitcoin Coinbase Premium Index over the past week:

The above graph shows that the Bitcoin Coinbase Premium Index has observed a sharp plunge into the negative territory during the last 24 hours. Coinciding with this drawdown in the indicator has been the crash in the cryptocurrency’s value itself.

The negative indicator suggests the asset is observing a higher amount of selling pressure on Coinbase than on Binance. Thus, given the timing of the trend, it would appear the selling from the Coinbase users has been driving the price decline.

This pattern has been observed throughout 2024; the price has shown notable correlation with the Coinbase Premium Index. As such, the Coinbase users, or the American institutional investors, have been in the driving seat.

If the indicator’s value continues to be negative in the coming days, then it’s possible that Bitcoin would only see an elongation to its decline. It only remains to be seen, though, what the US-based whales decide to do next.

In some other news, the institutional holders haven’t been the only ones participating in selling recently, as another analyst has pointed out in a Quicktake post that the Bitcoin Binary Coin Days Destroyed (CDD) has spiked.

The Binary CDD keeps track of whether dormant tokens are on the move. Aged coins belong to the HODLers of the market, so whenever the indicator spikes, it’s a sign that the long-term holders have potentially decided to sell their coins.

The chart shows that the Bitcoin Binary CDD has recently been flashing this signal, meaning that the asset has been facing selling pressure from the diamond hands.

BTC Price

At the time of writing, Bitcoin is floating around $100,400, down more than 3% over the past day.

Bitcoin (BTC) tumbled from a high of $108,135 on December 17 to $99,500, following US Federal Reserve (Fed) Chair Jerome Powell’s hawkish remarks yesterday. However, some crypto analysts are pinning their hopes on a potential decline in Bitcoin Dominance (BTC.D) that may pave the way for an altseason.

What Caused The Crypto Market Crash?

Since yesterday, the total crypto market cap has fallen by more than 6%, with the bulk of the losses recorded in altcoins. In absolute terms, over $200 billion has been wiped out from the crypto market in the past 24 hours.

Powell’s hawkish statements triggered the decline in the crypto market, which suggested that the Fed’s battle against inflation is not over yet. Powell indicated that there might only be two interest rate cuts in 2025 instead of three.

Additionally, the Fed has raised the 2025 inflation forecast from 2.1% to 2.5%. Even the 2026 forecast is pegged at 2.1%, higher than the central bank’s goal of 2%. The Fed sees inflation as an issue that might persist for another two years, resulting in interest rates remaining high for longer than initially anticipated.

The crypto market reacted negatively to Powell’s statements, resulting in liquidations exceeding $850 million in the past 24 hours. Nevertheless, some crypto analysts view the fall as an opportunity to accumulate altcoins, expecting BTC.D to decline in the coming days.

Is Bitcoin Dominance About To Collapse?

According to the following chart, during the weekly timeframe, Bitcoin Dominance has been on a continual uptrend for the past two weeks, rising from 56.24% to 58.50% at the time of writing. Some analysts are confident that BTC.D is forming a lower high, which may be followed by a steep decline leading to a full-fledged altseason.

Bitcoin analyst Eric Crown took X to share his thoughts on the BTC.D chart. The analyst noted that the metric may fall to 54% after a small surge to 59%. 

Another crypto analyst @CryptoGoos noted that BTC.D top is already in. The trader added that the altcoin season will likely continue after BTC.D gets rejected from resistance levels between 58% and 59%.

Similarly, Bitcoin and stock market analyst Seth highlighted BTC.D’s behavior during the last two market cycles. He stated that BTC.D might follow a similar trajectory this cycle, consolidating at a key support level of around 58% before an eventual crash.

That said, former BitMEX exchange CEO Arthur Hayes recently shared his crypto market outlook, predicting a “harrowing dump” around US President-elect Donald Trump’s inauguration on January 20, 2025. BTC trades at $100,978 at press time, down 3% in the past 24 hours.

Parcl ($PARCL) has taken a knock, with a price decline of -13.10% in the past seven days. As a real estate trading DEX, PARCL provides traders with the option of major city indices, among them New York, Los Angeles, and Dubai. Parcl is built on a smart contract platform on Solana.

Parcl was recently included on crypto exchange Coinbase, prompting a price spike, albeit a short-lived one. Parcl’s native token reached $0.586 on December, 17 but has since dropped to around $0.35.

It’s not unusual for a token price to rise and drop following a new exchange listing. And $PARCL’s price -13.10% is still favorable compared to similar DeFi currencies, which are down -17.60% in the same period.  Solana, too, has also been seeing a downward trend for close to a month now. But that’s expected to see a turnaround, on the back of $SOLX.

Is $SOLX Stealing Parcl’s Limelight?

The Solaxy ($SOLX) presale is in full swing, with investors racing to secure tokens at an early bird price. $SOLX’s massive investor appeal lies in its building of a Solana Layer 2 blockchain, with plans to be a vastly improved version of the Solana ecosystem. 

Solana’s high transaction volumes (close to 179M in the past week alone) are prone to congestion and failed transactions. And these are the issues Solaxy will tackle, along with scalability. 

It’s not just Solana that’s set to score. Solaxy is a multi-chain solution, which is good news for Ethereum as well as for Binance. But it also means the Solaxy presale is drawing investors from Solana, Ethereum, and BNB, which isn’t great news for the PARCL DEX, or $PARCL’s price.

Solaxy Presale Is Grabbing Investor Attention 

Since launching just over five days ago, the Solaxy presale raised $350K in its first 24 hours. As at the time of writing, that figure has already skyrocketed to an eye-watering $3.46M. It’s an exciting space to watch, as the investor frenzy gathers momentum, buoyed by 1092% annual returns. So far, an estimated 1051B $SOLX has already been staked.

Investors can get their hands on $SOLX through Solaxy’s official presale site, with $ETH, $BNB, $USDT, and card among the payment options. Buying $SOLX with $BNB in the presale, however, means holders won’t be eligible for the 1092% annual returns. 

Buying $SOLX by card requires a crypto wallet, like MetaMask or Best Wallet. Both are free, although the mobile-first Best Wallet app is also 100% non-custodial. This is always a plus if you want a crypto wallet that doesn’t belong to a centralized exchange or company. 

Solana Set for a Comeback with $SOLX

In this current presale stage, 1 $SOLX costs $0.00158. But, of course, being a presale, a price rise is imminent. The next increase will happen within just more than a day. So, the clock is ticking if you want to buy $SOLX at entry level prices. 

Be sure to first DYOR, as this article does not constitute financial advice. Check out the $SOLX whitepaper for more information and for updates, keep an eye on the $SOLX X feed.

If there’s a gold standard for the next big thing in crypto, it’s 100x growth.

That’s the mark every crypto investor wants to hit. Sink $100 into the next 100x crypto, and you’ve made $10K. Invest a thousand, and you’ve made $1M.

Of course, finding those projects is harder than it seems. For every project that succeeds, dozens fail, and even more barely get off the ground.

Savvy crypto investors know that the key to 100x success is to research, research, research – and make sure you’ve got a good idea of which upcoming projects have real potential to go through the roof.

But, if you’re hunting for 100x coins, take a look at these 5 promising low-cap gems.

Plankton in Pain: Everyone Say $AAHHM

Already launched and trading briskly, Plankton in Pain is as pure a meme coin as it gets: zero utility, all meme, all hype.

Despite that – or perhaps because of it – $AAAHHM is receiving a lot of buzz. The price saw the expected jump post-launch but leaped again in the first week of trading. Today, it has a market cap of around $41 million.

In short, keep an eye on Plankton in Pain; if momentum continues, 100x is easily achievable.

WEPE: Trade Like PEPE, Buy WEPE

Pepe Coin – the original green frog – is no small-cap gem, with a $6.8B market cap. But low-cap rival, Wall Street Pepe, has its sights set high, aiming for big-cap success without ever losing that small-cap energy.

While still a meme coin at heart, $WEPE has the potential to add real utility. Wall Street Pepe is all about helping crypto investors and degens work together to find the best plays and the savviest investments. As the project grows, it aims to build communities for $WEPE holders to trade secrets and insights and ultimately beat the Wall Street whales at their own game.

$WEPE is rolling through its presale, having raised 34.4M so far. Previous frog-themed presales, like Pepe Unchained, raised over $70M, so $WEPE holds plenty of promise to grow, even in the presale stage. 

Purple Pepe: What If Pepe, But Purple?

Purple Pepe moves Ethereum’s Pepe Coin over to Solana and gives it a touch of the Solana color scheme.

$PURPE launched back in 2023, so it’s been around a while. But in the past month, Purple Pepe has been trading well above its historical average.

In fact, $PURPE is one of the few coins to have shown a notable increase in its trading volume and price over the past week. This is notable in the broader cryptocurrency market context, which has generally been in decline.

This alone makes Purple Pepe one to watch.

Catslap: Slap to Earn? Why Not?

CatSlap combines an aggressive meme message with a fun game. And cats, of course.

The result? A meme coin that’s up 3,038.6% since launch and trading briskly on MEXC.

The project has everything the internet loves, plus it’s still flying a bit under the radar. That makes it the ideal low-cap meme coin to potentially make big moves.

Load your $SLAP tokens on a reliable crypto wallet like Best Wallet and get busy slapping.

SOLX: Bringing a Layer-2 Upgrade to Solana

Is Solaxy a meme coin? Maybe. But it’s also a coin with genuine utility in the form of a Solana Layer 2. The idea is to improve the already solid foundation of the Solana blockchain, aiming to achieve zero failed transactions and decrease network congestion.

There’s more than a dash of meme coin madness with $SOLX, but there’s also potential for real blockchain development. After the presale and launch stages, Solaxy intends to build and deploy an L2 that reduces congestion, limits downtime, and increases Solana’s already-fast transaction speeds.

The project has already brought in $3.4M in presale, making it one worth watching closely. 

Low-Cap: The Place To Find Hidden Gems

What are small-cap or low-cap coins?

The phrase comes from the stock market. Large-cap stocks – like Apple, Microsoft, and others – have billions or trillions of dollars in market capitalization, which is calculated as roughly the number of circulating shares multiplied by the stock price.

The overall size of the crypto market is much smaller than the stock market; only Bitcoin’s $1.8T market cap puts it close to being in the true large-cap range. 

But even within crypto, you get blue-chip cryptos like $BTC and Ethereum and then a wide range of much smaller altcoins and meme coins.

Like the stock market, though, small-cap cryptos offer the opportunity for incredible growth. Bitcoin, being a mature and stable coin, is unlikely to go 100x in a short period of time; but small-cap tokens like $SLAP can and do increase by 100x or even more.

That makes them incredibly high reward, but also high risk. When trading small-cap coins, remember that with lower liquidity comes increased volatility. It only takes one or two whale wallets selling tokens to cause the price to plummet.

Small-Cap, Big Gains

Low-cap coins have the potential for huge growth if they gain traction, as they’re often undervalued. But the bottom can fall out just as quickly. That’s why it’s important to do your own research before investing in any cryptocurrency.

That said, watch these five closely – the next 100x coin might be hidden right here. Our money’s on $WEPE, as frogs have historically exceeded expectations, but please note that this does not constitute financial advice.

Despite the astronomic gains worthy of /r/wallstreetbets, there’s always the potential for equally big losses. Never invest more than you can afford to lose, and always conduct your due diligence.

Yesterday’s Federal Reserve meeting resulted in a 25 basis point rate cut and a revised policy indicating fewer cuts than anticipated next year. The announcement triggered a significant market retrace, with Bitcoin leading the downturn.

BTC dropped 8% from its all-time high, briefly testing liquidity levels before bouncing above $98,000. This retrace wasn’t limited to crypto; broader markets also experienced volatility in response to the Fed’s decisions.

Adding intrigue to the situation, CryptoQuant shared data revealing a massive move by a longstanding BTC whale. Over 72,000 BTC were transferred, raising speculation that this could signal a market top. Historically, such large movements by early adopters often precede critical price shifts, as their actions influence market sentiment and liquidity.

Despite the drop, Bitcoin’s ability to hold above key liquidity zones has reassured some investors. However, questions remain: is this merely a shakeout to fuel further gains or a precursor to a deeper correction? 

Analysts and traders will closely watch Bitcoin’s next moves, especially with this unprecedented whale activity coinciding with a pivotal moment in macroeconomic policy. The coming days could prove decisive for BTC’s short-term trajectory and its journey into price discovery.

Bitcoin Whales Making Moves

After Bitcoin’s massive breakout from $67K to $108K, the market has witnessed a shift in sentiment as smart money begins to position itself for the coming months. As the price surged, large investors, including long-time Bitcoin whales, have been actively moving their holdings, signaling that important changes may be on the horizon.

Top analyst Maartunn shared on-chain data showing significant whale activity, including the total movement of over 72,000 BTC. Notably, 8,000 BTC, aged between 5 and 7 years, were moved on-chain in a recent transaction. 

This is the eighth transaction in the past two weeks, indicating a pattern of substantial whale movements. These transactions could be interpreted in one of two ways:

Whales are calling for a market top: The large-scale transfers could signify that these whales believe BTC has peaked and are selling their positions to capitalize on the price surge. In this case, these whales could be looking to take profits before a potential correction or consolidation phase.

Whales are repositioning for an Altseason: Alternatively, these moves might indicate that whales are rebalancing their portfolios, preparing to deploy capital into altcoins as they expect the market to shift toward altcoin rallies, also known as Altseason.

As these large transactions continue, the market is left wondering whether this is a signal of a top or just part of a larger strategic repositioning by Bitcoin’s biggest holders. Investors will closely watch how this unfolds in the coming weeks.

BTC Holding A Bulish Structure

Bitcoin is trading at $102,300 after testing local demand at $98,695 earlier today. The price structure remains bullish, with a clear formation of higher highs and higher lows, indicating the market uptrend. 

For BTC to maintain its momentum and push towards new highs, it must break above the $103,600 level, which was a key pivot last week. This level has shown significant importance as it marked a resistance point, and surpassing it would solidify Bitcoin’s bullish outlook and open the door for further gains.

However, a failed breakout above this level could signal a shift in sentiment, and if BTC loses the $100,000 support level, a correction is likely to follow. A drop below this critical threshold would indicate that selling pressure is intensifying, and the market may need to retrace before finding a new support base. 

Traders and investors will closely monitor the $103,600 and $100,000 levels in the coming hours to gauge Bitcoin’s next move and whether the bullish trend can continue or if a short-term correction is imminent.

Featured image from Dall-E, chart from TradingView

$BTC dipped to $96,660 and triggered a broader sell-off in the altcoin market. Yet, investors remain bullish and shift their attention to rising stars that could surge 10X. One such newcomer is Crypto All-Stars ($STARS), which raised over $1 million in the past 24 hours.

The project introduces the world’s first unified meme coin staking platform, MemeVault. Degens and HODLers can now earn passive yields from legendary tokens like $DOGE, $PEPE, and $SHIB.

FOMO intensifies as the presale ends in four hours–investors rush to secure their share of Crypto All-Stars and triple their MemeVault staking rewards.

MemeVault Brings Top Meme Coins Under One Umbrella, Offers Up to 1,362% Staking APY

MemeVault is unique in the sense that it builds upon the success of all popular meme coins. Whether you stand for dogs, frogs, or Japanese cats, MemeVault welcomes everyone wishing to grow their holdings.

Upon launch, MemeVault will support 11 top meme coins, but more will become available along the way. The current known APYs are as follows: $DOGE (287%), $SHIB (125%), $PEPE (1,267%), $WIF (1,362%), and $BRETT (104%).

On top of that, $STARS is a utility token concealed as a meme coin. It’s meant to be held because it triples your MemeVault staking rewards. Its integral role in the ecosystem future-proofs $STARS, as HODLing creates scarcity and drives demand for remaining tokens in circulation.

$STARS puts your otherwise zero-utility meme coins to work, all under one umbrella–isn’t it visionary?

Experts Predict $STARS to 10X After Listing

$STARS will be available at $0.0016782 for the next four hours if tokens don’t sell out earlier. Early supporters can still stake their $STARS at a 140% APY to maximize potential returns. Staking rewards will be distributed over two years at a rate of 2801.44 $STARS per ETH block.

With over $25M raised, $STARS resembles another hot meme coin launch, Pepe Unchained ($PEPU), which surged over 230% in two days after raising $73M on presale. While the projects aren’t affiliated, both display strong utility and early momentum, which suggests $STARS could follow in $PEPU’s footsteps.

Key opinion leaders like ClayBro already recognize $STARS’ potential and predict its price will 10X after listing.

While the project team doesn’t disclose specific listing platforms, the community anticipates $STARS to first launch on high-liquidity DEXs like Uniswap and later on tier-1 CEXs like Binance.

It’s true that tier-1 platforms only list legitimate projects. That’s why Crypto All-Stars passed independent audits by Coinsult and SolidProof, which identified no vulnerabilities or bugs in its code and certified that user funds are safe.

Time Waits for No Man, So Act Now

Time is ticking, so hurry up if you want to get $STARS at a below-listing price. Given that it appeals to the communities of all famous meme coins, the demand will only continue to grow, so there might be another chance to buy $STARS cheap like now.

To buy $STARS, visit the official Crypto All-Stars presale, connect your wallet, and swap $ETH, $BNB, or $USDT for $STARS. You can also pay with a bank card if this is your first crypto bull run.

Then, follow Crypto All-Stars Telegram and X to keep up with news about the token claim, MemeVault updates, and community initiatives.

As always, we remind you to DYOR and invest only as much as you can afford to lose. Even tokens with solid utility may fall victim to external factors.

In a direct address to the public, Ilya Lichtenstein, who pleaded guilty last year to charges connected to the 2016 theft of approximately 120,000 Bitcoin from the crypto exchange Bitfinex, issued a new statement on Thursday refuting alleged third-party involvement in the hack. His five-minute video, posted to X, represents Lichtenstein’s first publicly available statement since his arrest in 2022. He directly challenged claims made in a Netflix documentary suggesting his father—or any external party, including possible foreign intelligence agencies—participated in the infamous heist.

Lichtenstein Stole 120,000 Bitcoin Alone

Speaking to the camera, Lichtenstein said: “I planned and executed the Bitfinex heist entirely by myself. And I am the one who bears full responsibility for everything that has happened.” He further disputed other speculations, stating: “Any allegations that my elderly and not at all tech-savvy father had any involvement in any hacking activity ever are completely false and frankly absurd.”

The 2016 hack of Bitfinex stands as one of the most significant security breaches in crypto history. At the time, the theft of 120,000 Bitcoin was valued at approximately $72 million, though the current market value of those coins is estimated to exceed $12.6 billion. Prosecutors have previously noted that Ilya’s wife, Heather “Razzlekhan” Morgan, became involved only after the fact, having pleaded guilty to one count of money laundering conspiracy and one count of conspiracy to defraud the United States.

In the video, Lichtenstein maintained that Morgan’s role did not extend to hacking or orchestrating the theft itself: “While it is true that my wife pleaded guilty to laundering a small portion of the funds, she was in no way involved in the hack itself. She didn’t even know about it for years.”

According to official statements and the plea agreement, Lichtenstein has been cooperating with authorities to facilitate the return of stolen funds. During the video, he reiterated these efforts: “For the past three years, I have worked hard to account for and return all assets down to the last Satoshi as required by my plea agreement. And I will continue to do so throughout the forfeiture and restitution process, which is expected to return more than $10 billion by the first quarter of next year.”

Lichtenstein openly acknowledged his wrongdoing: “I hacked Bitfinex. I stole and laundered thousands of Bitcoin. And I am so sorry for everything.” He expressed remorse and a desire to make amends, describing himself as having made “one bad selfish decision after another” during the period of the hack and its aftermath. Emphasizing his sole responsibility, he stated: “Nobody else except for me is responsible for the hack.”

He also indicated plans for his future following the completion of his prison sentence: “When I am released from prison about a year from now, I plan to dedicate myself to working in the cybersecurity industry.” Claiming a unique perspective informed by his past illicit activities, Lichtenstein believes he can contribute to cybersecurity defenses going forward: “Nobody understands how hackers think like someone who has been a hacker… I know the cyber threats that we face, and I know how to stop them.”

All claims, as Lichtenstein noted, can be verified by publicly available court documents. He advised Netflix viewers to read these documents to develop their own informed conclusions: “You don’t have to take my word for it. All of the court documents laying out the facts of the case are publicly available. You can read them yourself and make up your own mind.”

Neither representatives of Bitfinex nor Netflix have publicly commented on Lichtenstein’s video at the time of reporting.

At press time, Bitcoin traded at $102,371.

Data shows a large amount of liquidations have piled up on cryptocurrency exchanges during the past day as Bitcoin and the altcoins have crashed.

Bitcoin & Other Assets Have Witnessed Bearish Action In Last 24 Hours

The past day has been a volatile time for the cryptocurrency sector as the US Federal Reserve has revealed a cautious outlook on interest rate cuts during the latest Federal Open Market Committee (FOMC) meeting.

Reacting to the news, the Bitcoin investor selloff took the price to as low as under $99,000, but the crash was only short-lived, with the digital asset’s price showing some quick recovery.

As is visible in the above graph, Bitcoin has already returned above $102,400, meaning the coin is down less than 3% during the last 24 hours. The altcoins, however, haven’t been so lucky, as most of them are still down notable amounts. Ethereum, the second largest asset in the sector, has seen losses of 5% in this window.

With the market-wide price crash, it’s not a surprise that the derivatives side has gone through chaos of its own.

Crypto Longs Have Just Taken A Massive Beating

According to data from CoinGlass, there has been a mass amount of liquidations in the cryptocurrency derivatives market during the past day. “Liquidation” here refers to the forceful closure that any open contract undergoes after it amasses losses of a certain percentage.

Below is a table that shows the numbers relevant to the latest market flush:

As is visible above, there have been almost $790 million in cryptocurrency-related liquidations over the last 24 hours. Out of these, $662 million of the contracts involved were long ones, representing 84% of the total. This is naturally down to the fact that the market as a whole has crashed.

In terms of the contributions from the individual symbols, Bitcoin and Ethereum have predictably come out on top once more.

Out of the rest, XRP, Dogecoin, and Solana have stood out, as they have each contributed to $40 million, $29 million, and $23 million in liquidations, respectively.

A mass liquidation event, popularly called a squeeze, isn’t something too uncommon for the cryptocurrency sector, due to the fact that assets tend to be volatile and leveraged trading is popular. That said, the scale of the latest flush is still notable and underlines the high speculative interest present in the market amid the bull run.

The squeeze hasn’t discouraged these traders, either, as the Bitcoin Open Interest continues to sit at an all-time high (ATH).

Sui has entered a consolidation phase after reaching a record high price level earlier this week. Meanwhile, Solana is experiencing strong bearish pressure as the token fails to regain its upward momentum. Amidst this sentiment, analysts believe Rollblock’s viral new altcoin could outshine both SOL and SUI with a massive 100x rally in early 2025.

Rollblock (RBLK) Experiences Whale Activity Before Highly Anticipated Token Launch

Rollblock’s presale has already raised more than $7.34 million which reflects the platform’s massive demand. Since Rollblock is getting closer to its official token launch on the open market, analysts are pointing out increased whale activity for the platform’s native $RBLK. 

This whale movement is all thanks to Rollblock’s innovative strategy to combine the $500 billion per annum global gaming market with the $3.1 trillion crypto industry. If Rollblock continues to experience high buying activity, analysts are already predicting a total of 880% gains for early RBLK holders before the end of its presale. For now, $RBLK tokens are selling for just $0.0415 each which is the lowest price it will ever be. 

Rollblock has also announced a new sports feature for its viral GameFi ecosystem. With this new feature, Rollblock users will be able to place high stakes games on international sports leagues such as the NBA, NFL, UFC, La Liga, MMA and more. Even before this big upgrade, Rollblock already offers 7000+ AI-powered games on its massive ecosystem. Since the gaming library includes both cult classics and newer Web3-based games, Rollblock is attracting a variety of high rollers and savvy traders to its innovative project. 

Another reason why Rollblock is experiencing high whale activity is the platform’s ingenious revenue sharing model. At the end of every week, Rollblock uses 30% of its revenue to purchase $RBLK tokens on the open market. While 40% of these tokens are distributed amongst current token holders as staking rewards, the other 60% are burned forever to keep Rollblock’s circulating supply low. With these deflationary tokenomics, it is no surprise that RBLK is already poised to experience a massive 100x rally on its official launch day. 

Sui (SUI) Enters Consolidation Period After Recording New All-Time High Price

Sui’s price reached a record high at $4.93 earlier this week after Bitcoin surpassed the critical $100K milestone. Aside from Bitcoin’s growth, Sui’s recent rally was also driven by the platform’s strategic partnership with China’s Ant Digital. Since Sui’s new venture is focused on tokenizing real-world assets (RWAs) in the environmental, social and governance sector, analysts expect Sui’s price to experience another bullish wave after consolidating its losses. 

Sui is currently trading for $4.59 after an intraday decrease of 2.00%. Despite this sudden decline, Sui still has considerable community support as the token’s market sentiment is 84% bullish. Sui’s technical indicators such as the RSI and MACD indicators also confirm the bullish thesis. If Sui rises towards its ATH level again, Sui’s price could enter a discovery towards the $7.40 resistance. 

Solana (SOL) Struggles to Fight Bearish Pressure 

Solana’s price reached an all-time high at $264 on November 23 but failed to enter a price discovery phase. Since Solana has been on a clear downtrend for the past 25 days, analysts are beginning to lose confidence in Solana’s recovery. Despite Solana’s extremely bearish outlook in the short term, the token’s long-term analysis is showing signs of an explosive rally. 

Since Solana has been forming several lower highs and lower lows, analysts expect Solana to repeat a fractal bull flag pattern from January 2024. Although the January rally resulted in a triple-digit rally in Solana’s price, analysts are only predicting Solana’s price to reach the $300 mark this time. At the time of writing, Solana was trading for $216.28 after another intraday decrease of 4.26%. 

Rollblock to Outperform Solana and Sui in Early 2025

While Sui consolidates its losses and Solana struggles to fight the bearish pressure, savvy traders are jumping ship to Rollblock’s viral presale. Since Rollblock is expected to rally by a total of 880% before the end of its presale stages, now is the ideal time to invest in $RBLK before the price skyrockets in early 2025. 

Discover the Exciting Opportunities of the Rollblock (RBLK) Presale Today!

Website: https://presale.rollblock.io/

Socials: https://linktr.ee/rollblockcasino 

Disclaimer: This is a paid release. The statements, views and opinions expressed in this column are solely those of the content provider and do not necessarily represent those of Bitcoinist. Bitcoinist does not guarantee the accuracy or timeliness of information available in such content. Do your research and invest at your own risk.

As the market enters the euphoric phase of the cycle, all eyes are on meme coins. Dogecoin, Pepe and Bonk are among the favorites and are expected to soar much higher in the upcoming months. However, all these projects have already had their 100x runs several times over. With their market caps in the billions, they have passed the point of diminishing returns. 

For this reason, many investors are now allocating capital to undervalued gems that have yet to prove their worth. One such project is, Cutoshi, which has been consistently trending on X, and thousands are rushing to the viral presale of the $CUTO token.  

Moreover, attention is also increasingly shifting toward utility-focused projects, with legacy altcoins like Ripple and Cardano experiencing triple-digit rallies over the last month alone. Cutoshi is set to launch at the best possible time of the cycle, as it merges together meme vibes with a DeFi ecosystem. 

What Sets Cutoshi Apart From Other Memes?

When it comes to meme coins, utility is often viewed as an option. Most of these projects are purely hype-driven and many of them plummet to near-zero after the first major sell-off, as the charts show time and time again. Those who rise to the top, such as Shiba Inu and Bonk, are supported by robust tokenomics and clear long-term roadmaps.

Behind the cute and cartoonish surface, Cutoshi boasts CUTO DEX, a decentralized exchange that integrates isolated blockchains in one place and allows for seamless, lightning-quick swaps.

The project prioritizes privacy and decentralization, the two cardinal precepts of crypto philosophy, echoing the teachings of Satoshi Nakamoto the legendary Bitcoin creator.

This means that middlemen are removed from the equation, while investors retain sole custody of their assets. Simultaneously, their sensitive data remains untouchable, as no KYC is required to join.

Cuto Farm Offers Fantastic Passive Income Opportunities

Cutoshi pays tribute to the Lucky Cat of Japanese legends, which is believed to bring good fortune to businesses and families. In a similar fashion, Cutoshi brings prosperity to the blockchain and its rapidly growing community via Cutoshi Farming, a unique reward mechanism that will allow users to earn generous prizes.

During and after the presale, individuals will be able to complete fun missions and tasks aimed at engaging with the community and boosting Cutoshi’s presence in the crypto space. For their loyalty, they will receive Cuto points, which can be exchanged for $CUTO tokens once the presale ends. Additionally, to promote long-term holding and healthy price action, Cutoshi will soon launch a staking option, allowing users to earn passive income.

This system has been designed to maximize returns, as holders will be able to earn money via two major avenues while also enjoying the inevitable appreciation of the $CUTO token.

Discover Cutoshi Academy

One of the project’s most intriguing features is the Cutoshi Academy, an educational hub that seeks to narrow the knowledge gap between newbies and crypto veterans. In the academy, beginners will find resources that teach the basics of DeFi, the ins and outs of trading and how to build a future-proof portfolio.

The crypto world can be quite overwhelming for newcomers and for this reason, this initiative has already garnered significant praise. Not only does Cutoshi encourage widespread adoption but it also helps foster a welcoming and inclusive environment.

Why The $CUTO Presale Is One Of The Best Plays Of 2025.

Right now, stage 4 of the $CUTO presale is underway and tokens are on sale for a discounted price of $0.031. Given all that Cutoshi brings to the table and its low-cap status, it could vastly outperform established majors like Shiba Inu and Bonk at the peak of the 2025 bull run. Joining today could lead to impressive returns as meme season goes into overdrive!

For more information on the Cutoshi (CUTO) Presale:

https://cutoshi.com/

Join and become a community member: 

https://twitter.com/CutoshiToken

https://t.me/cutoshi

The Dogecoin price has been stuck in a state of correction and consolidation since the first week of December after a crazy multi-week rally that saw it peaking just below the $0.48 price level. Recent price action in the past 24 hours and seven days has been riddled by declines, with the RSI indicator reflecting a corresponding drop.

Crypto analyst Master Kenobi recently drew attention to this notable development in Dogecoin’s Relative Strength Index (RSI), highlighting its earlier break above 90% and comparing the current bull market with the patterns observed during DOGE’s 2021 rally.

DOGE RSI Mirrors That Of The 2021 Bull Market

Master Kenobi’s recent update on X outlines a striking similarity between Dogecoin’s RSI levels during the current cycle and those observed in the early stages of the 2021 bull market. In both instances, the RSI reached 90, which is far above the 70 threshold of overbought conditions. Particularly, the RSI indicator shows that the Dogecoin price reached overbought condition in November 2024 but continued to climb until early December.

Interestingly, the 2021 rally’s peak was followed by a significant cooldown, with the RSI dropping to 43% and the Dogecoin price plummeting by 55% over a 25-day period. Furthermore, Kenobi highlighted the RSI’s oscillation between two key lines at the 90 and 40 readings during the 2021 Dogecoin rally, which is a pattern that could repeat itself in the current bull market.

This time around, while the RSI has followed a similar trajectory of reversing after hitting 90 overbought condition, the price movement has been noticeably less severe. Over the 35 days since the RSI’s peak, the Dogecoin price has experienced a lesser 28% decline, which suggests it is now more stabilized than it was in the previous bull cycle.

What To Expect For Dogecoin Price?—Key Dates To Watch

As it stands, the Dogecoin RSI is currently around 43 and looks like it is going to decline further to 40. While the 2021 pattern doesn’t predict what will happen next, we can have an idea of what could play out next. If the pattern were to repeat itself, we could see the RSI rebounding towards the 90 reading at least two more times this cycle.

In an earlier analysis, Master Kenobi pointed out a narrowing timeframe between key RSI peaks across Dogecoin’s market cycles. From 260 days in the first cycle to 240 days in the second, and now 225 days in the ongoing cycle. Furthermore, the RSI consistently halts at similar levels, which showcases a degree of predictability in its behavior.

Kenobi also emphasized that DOGE appears to be slightly ahead of historical trends, and the RSI is holding above its moving average. This suggests that the current bull cycle may still have room for growth, especially as the industry moves into a more crypto-favorable landscape in the US and other countries.

Looking ahead, crypto analyst Master Kenobi highlights January 2, which stands out as a pivotal date to watch for Dogecoin. At the time of writing, the Dogecoin price is trading at $0.362 and is down by 5% and 13.3% in the past 24 hours and seven days, respectively.

Jerome Powell, chair of the US Federal Reserve, recently dismissed speculations that the Fed may add Bitcoin to its reserves. At the end of the its two-day meeting, Powell stated that the Fed isn’t allowed to own Bitcoin and doesn’t desire to get involved in any government initiative to create a stockpile of digital assets. 

The Bitcoin announcement comes after the Fed announced rate cuts while signaling uncertain monetary policies in the next few months. Powell’s announcement was surprising when President Donald Trump announced key appointments of crypto-friendly personalities. The market immediately reacted to Powell’s statement, sending Bitcoin’s price down by 5.7%. Other top altcoins like XRP also shed value.

Powell Thumbs Down Plans To Add BTC To Reserves

The debates on whether it’s time to create a stockpile of Bitcoin gained traction after Donald Trump secured a win and another presidency. Trump used Bitcoin and crypto as part of his campaign to attract support from crypto personalities and commentators. And by appointing key crypto-friendly personalities to top government positions and promising to revamp the SEC leadership, many expect to predict a Bitcoin stockpile soon.

Powell says Fed cannot hold Bitcoin, not seeking to change that https://t.co/72RQGK1Q6K

— ST Business Desk (@stbusinessdesk) December 18, 2024

However, Powell has categorically stated that the US banking system cannot hold Bitcoin. He argued that according to the Federal Reserve Act, there are rules on what banks can own, and Bitcoin is not included in the list.

He announced that they’re not looking to change the law soon, and it’s up to Congress to decide. 

Interest In Bitcoin Strategic Reserve Continues To Grow

Despite the Fed chair’s opinion on Bitcoin as a reserve asset, there has been growing attention on Bitcoin as a potential reserve asset. During the elections, Trump supported the proposal and even suggested that the US should become the center for crypto developments. Other pro-Bitcoin policymakers, like Wyoming Senator Cynthia Lummis, have been campaigning for Bitcoin to be considered a reserve. `

Early this year, Lummis filed a bill asking the US Treasury to buy and add Bitcoin to the reserve. Under the Lummis bill, the US Treasury will adopt a program to buy 20,000 BTC annually for five years until the reserve holds 1 million tokens.

Bitcoin’s Price Drops After Powell Statement

The market reacted negatively to Powell’s statement, with Bitcoin’s price dropping to $100,300, down by roughly 5.7% compared to the previous day’s close. As of press time, Bitcoin’s 24-hour trading value is between $98,839 and $105,306.

Other top cryptos followed Bitcoin’s lead, with Ethereum dropping by 6.8%, Solana by 8.1%, and Binance Coin shedding 4.6% in value. Dogecoin was the worst performer among the top altcoins, dropping to $0.348, or an 11% loss. Also, the stock market tumbled after the Fed official’s statement. The Nasdaq 100 dipped by 2%, and S&P ended the trading day with a 1.55% loss.

Featured image from Pexels, chart from TradingView

A certified Chartered Market Technician (CMT) analyst recently shared a chart discussing the XRP price potential for a bullish surge. Basing his projections on key technical indicators, the analyst believes that the XRP price rally still has a long way to go before it reaches overbought levels.

Technical Indicators Signal XRP Price Bullish Reversal

CMT-certified crypto analyst Tony Severino took to X (formerly Twitter) on December 18 to highlight the potential for an XRP price bullish reversal to the upside. The analyst points to the combination of historical technical signals and tightening Bollinger Bands (BB) as an indication of a looming price rally. 

The analyst has expressed confidence in the XRP price outlook, admitting that he had underestimated its bullish potential. He revealed that the XRP/BTC quarterly chart looks exceptionally strong, with its three-month candlestick closing above the Bollinger Bands basis at 0.00001717, for the first time since April 2019. 

Severino revealed that the XRP price had touched the upper Bollinger Band at $0.0000286, a critical level typically associated with significant bullish momentum. According to the analyst, a quarterly close above this upper band could serve as a buy signal for XRP, emphasizing that the Bollinger Bands are currently at their tightest levels in the XRP/BTC history. 

In addition to this development, XRP’s Relative Strength Index (RSI) on the three-month chart is 47.87, steadily moving towards 50 after breaking above its RSI-based moving average at 43.44. Severino noted that an RSI above 50 often indicates increasing strength in a cryptocurrency, and historically, some of the largest price movements have occurred at an RSI above this level. 

The analyst further revealed that XRP’s Fisher Transform is flipping bullish. This technical indicator is used to identify turning prices and trend reversals in cryptocurrencies. According to Severino, XRP’s Fisher Transform turned positive after showing a multi-year bullish divergence, which further strengthens its potential for a price rally and optimistic outlook. 

Momentum Oscillators Indicate Extended Upside

In addition to its technical indicators, Severino has revealed that momentum oscillators such as the Logarithmic Moving Average Convergence Divergence (LMACD) and Stochastic Oscillator point to a potential price rally for XRP. Currently, the bearish momentum for XRP’s LMACD is weakening and steadily approaching a bullish crossover for the first time on the XRP/BTC chart. This pivotal shift suggests a potential trend reversal, signaling an extended upside for the XRP price.

Meanwhile, the Stochastic Oscillator at the %K line has hit its highest reading of 71, indicating a potential for a strong continuous upward momentum. The technical indicator also highlights that XRP still has a long way to go before it enters overbought territory. As of writing, the XRP price is trading at $2.36, marking a 6% decrease from its earlier price of $2.5 in the past 24 hours, according to CoinMarketCap. 

A member of the South Korean national legislature could possibly face imprisonment for allegedly misdeclaring his cryptocurrency holdings.

State prosecutors recommended that the legislator be sentenced to a six-month jail time for not disclosing a significant portion of his crypto assets, and failing to adhere to the South Korean policy on transparency and accountability of public servants.

Prison Sentence

A state penitentiary might be awaiting Kim Nam-kook, a member of the South Korean National Assembly, for non-disclosure of all his cryptocurrency holdings, violating the country’s code of ethics for public officials.

State prosecutors accused Kim of deliberately failing to report his cryptocurrency holdings, alleging that he intentionally concealed owning a substantial amount of digital assets.

During a legal proceeding, the prosecution team asked Judge Jeong Woo-yong of the 9th Criminal Division of the Seoul Southern District Court to sentence the former Democratic Party legislator to six months of imprisonment.

According to the South Korean prosecutors, Kim erroneously declared his crypto assets, suggesting that the lawmaker should be charged with obstruction of official duties.

The public prosecutors claimed that “the defendant intended not to declare the coins he owned.”

“He obstructed the National Assembly Ethics Committee’s review of the National Assembly member’s assets in a false manner,” the prosecution team added.

A South Korean congressman was sentenced to six months in prison by prosecutors for concealing his cryptocurrency holdings. He concealed cryptocurrency assets equivalent to 9.9 billion won (6.8M USD) and 990 million won (680K USD) in 2021 and 2022, violating the obligation of…

— Wu Blockchain (@WuBlockchain) December 18, 2024

Over $6M Crypto Assets

Kim claimed that he only owned $834,356 worth of assets in an official declaration to the National Assembly in 2021.

Investigations revealed that the lawmaker concealed on two occasions his cryptocurrency assets.

In 2021, Kim did not report that he owned $6.8 million worth of crypto assets. The lawmaker also failed to declare his digital assets worth $680,000 in 2022.

“He concealed cryptocurrency assets equivalent to 9.9 billion won (6.8M USD) and 990 million won (680K USD) in 2021 and 2022, violating the obligation of public officials to declare property holdings,” Wu Blockchain said in a post.

State prosecutors said that the legislator moved funds to a bank account so he could conceal the source of his profits, misreporting his true assets. They also found out that only the conversion of the remaining crypto to assets is being declared as his total worth.

Lack Of Crypto Tax Policy

Some analysts blame the South Korean government’s inability to implement a much-needed cryptocurrency taxation law.

The new tax law covering crypto assets was supposed to be implemented next year but the government decided to delay the tax policy until 2027.

Under the long-awaited crypto tax law, the government will impose a 20% tax on cryptocurrency gains.

Analysts said that ambiguity surrounding the regulations for cryptocurrencies might be increasing the political tension in the country.

Opposition lawmakers from the Democratic party perceive that the delay in the crypto tax implementation is being used by the government as a political tool.

Featured image from DALL-E, chart from TradingView

Craig Wright, the computer scientist who claims to be Satoshi Nakamoto, the elusive creator of Bitcoin, was sentenced  on Thursday to one year in prison by a UK judge for contempt of court.

This decision, issued by Justice James Edward Mellor, follows a thorough analysis of Wright’s conduct, which the court ruled included “significant and persistent falsehoods” about his status as Bitcoin’s founder.

The sentence, however, is suspended for two years, meaning that Wright will only serve time if he commits further offenses during this probationary period. 

Craig Wright’s Legal Woes Deepen

This ruling stems from a high-profile case where Craig Wright brought a staggering $1.15 trillion lawsuit against Bitcoin developers and the payments firm Square. The court found that he had violated a prior order that prohibited him from publicly claiming to be Satoshi Nakamoto and engaging in legal actions based on this assertion.

At the recent hearing, Wright reportedly expressed his intention to appeal the contempt finding, although he could not be reached for immediate comment. However, Wright’s legal troubles escalated when the Crypto Open Patent Alliance (COPA), a consortium of cryptocurrency firms, initiated proceedings against him. 

COPA sought a formal declaration that Craig Wright is not Satoshi Nakamoto, aiming to limit his ability to pursue multiple lawsuits against Bitcoin developers and others regarding intellectual property rights associated with Bitcoin.

During the six-week trial, Justice Mellor delivered a rare snap verdict, stating, “The evidence is overwhelming.” He concluded that Wright was not the individual who operated under the pseudonym Satoshi Nakamoto and accused him of deliberately fabricating documents to support his claims. 

The judge characterized Craig Wright’s actions as a “vehicle for fraud,” emphasizing that his extensive lies were aimed at bolstering his primary falsehood: his identity as Bitcoin’s creator.

In addition to the contempt ruling, Justice Mellor directed the Crown Prosecution Service (CPS) to consider pursuing criminal charges against Wright for what he described as “wholesale perjury.” However, as of now, no perjury charges have been filed against him.

Wright’s Claims Of Bitcoin Alteration Rejected

Craig Wright’s October lawsuit against Square and Bitcoin developers accused them of “misrepresenting” Bitcoin (BTC) as the original cryptocurrency. 

He claimed that they had altered the original Bitcoin protocol without authorization, asserting that these changes deviated fundamentally from the system defined by Satoshi Nakamoto in the Bitcoin White Paper. 

COPA on the other hand, argued that Craig Wright’s lawsuit violated the legal injunctions placed upon him, alleging contempt on five distinct grounds.

In his judgment, Justice Mellor ordered Wright to cease his legal actions against Square and the Bitcoin developers, stating, “There is no doubt whatever that each of these contempts has been proved.”

Craig Wright had been scheduled to attend a hearing to address the contempt claims but failed to appear, citing potential financial losses exceeding £240,000 ($303,000) as the reason for his absence. Reports suggest he is currently in Asia, possibly in Singapore or Indonesia, but he did not disclose his exact location when asked by the court. 

At the time of writing, Bitcoin is trading at $96,340, having lost the key $100,000 mark following the US Federal Reserve’s (Fed) decision to cut interest rates on Wednesday. Currently, BTC is down nearly 5% over the past 24 hours.

Featured image from the Financial Times, chart from TradingView.com

Germany’s Free Democratic Party (FDP) is intensifying its focus on Bitcoin and crypto policy during the run-up to the country’s parliamentary elections, scheduled for February. The party’s newly released election manifesto, published on December 18, signals a notable pivot towards integrating digital assets such as Bitcoin into the existing financial framework. Notably, the FDP mentions Bitcoin and crypto a total of five times throughout the document.

FDP Wants A Strategic Bitcoin Reserve

Central to the FDP’s platform is the idea of modernizing financial market oversight, while maintaining proportional and competitive regulatory standards. The election program stresses a commitment to “modern financial market regulation” that both protects private creditors and ensures a “level playing field” for all market participants. To achieve this, the FDP proposes expanding the responsibilities of the German Federal Financial Supervisory Authority (BaFin) so it can better “support FinTech and crypto innovations.”

The FDP also wants to ensure that Germany’s approach to crypto regulation aligns closely with broader European standards. It states that German rules should not exceed the “European minimum requirements,” implying that an overly stringent national framework could hinder competitiveness. The party suggests examining whether current regulations are “proportionate,” hinting that an overly restrictive environment may discourage innovation and push promising ventures elsewhere within the European Union.

Perhaps most notably, the FDP is “open” to the idea of both the European Central Bank (ECB) and the German Bundesbank incorporating Bitcoin into their currency reserves. While the program does not detail the mechanisms or timeline for such a move, it clearly presents the introduction of a Bitcoin reserve as a forward-looking strategy.

“We are open to the European Central Bank and the German Bundesbank using cryptocurrencies such as Bitcoin as currency reserves. This can strengthen the resilience of the European monetary system,” the election program states.

Further, the FDP’s platform strikes a balance between embracing digital innovation and preserving established monetary practices. It reaffirms support for the continued existence of cash, advocates for “broad acceptance of card payments,” and envisions a digital euro that respects user privacy and remains voluntary.

The party insists that any introduction of digital central bank money must preserve the privacy of users. “digital euro that complements cash must respect users’ privacy and be usable both online and offline. There must be no compulsion to use the digital euro and there must be no additional risks for the financial system,” the FDP demands.

This crypto-friendly pivot comes only a few days after FDP leader and former finance minister Christian Lindner Germany’s Bitcoin Dilemma: Ex-Finance Minister Urges Chancellor For Change that Germany must not lose touch with “innovations.” He compared Germany’s stance unfavorably to the next US administration under President-elect Donald Trump, which he said is poised to capitalize on “advantages that we could also have with Bitcoin.” While Lindner did not explicitly mention establishing a Bitcoin reserve at that time, his comments marked a caesura.

The FDP’s proposal has already drawn attention from key figures in the European tech community. Frank Thelen, a prominent European entrepreneur, technology investor, and TV personality, publicly supported the party’s approach via X: “First pro-crypto party in Germany @FDP. Imho a good addition to the existing currency reserves.”

At press time, BTC traded at $102,388.