Bitcoin, Ethereum, Dogecoin Dip, But Trader Predicts $100,000 Bitcoin Breakout Followed By 20-25% Correction
By Benzinga
Cryptocurrency markets are trading lower on Monday, with selected altcoins recording significant gains.
| Cryptocurrency | Price | Gains +/- |
| Bitcoin (CRYPTO: BTC) | $96,068.16 | -0.98% |
| Ethereum (CRYPTO: ETH) | $3,618.32 | -2% |
| Solana (CRYPTO: SOL) | $224.74 | -4.5% |
| Dogecoin (CRYPTO: DOGE) | $0.4257 | -0.5% |
| Shiba Inu (CRYPTO: SHIB) | $0.00002918 | -4.3% |
Notable Statistics:
- IntoTheBlock data shows large transaction volume decreasing by 12.5% and daily active addresses falling by 12.4%. Transactions greater than $100,000 are down from 8,716 to 8,298 in a single day. Exchanges netflows moved from negative $82.1 million to 132.3 million in single day.
- Coinglass data reports 224,165 traders were liquidated in the past 24 hours for $667.81 million.
- Arkham Intelligence that the U.S. government has moved $1.92 billion BTC to a new address.
Notable Developments:
- How Donald Trump’s Return Will Change The Crypto Regulation Game For Coinbase, Binance, Kraken
- Ethereum ETF With Integrated Staking To Be Approved In The Future: Bernstein
- Why Bitcoin’s Institutionalization Is ‘A Concern’
- Bitcoin ETFs Saw $457 Million Net Outflows Last Week, Ethereum ETFs Recorded $634 Million Net Inflows
- Bitcoin Miners Surge 52% In November As Prices Near $100,000
- Joe Biden Pardons Hunter — Donald Trump Likely To Pardon January 6 Protestors, Polymarket Traders Speculate
Top Gainers:
| Cryptocurrency | Price | Gains +/- |
| Kaia (CRYPTO: KAIA) | $0.3597 | +50% |
| Hedera (CRYPTO: HBAR) | $0.292 | +46.3% |
| Quant (CRYPTO: QNT) | $134.28 | +30.1% |
Trader Notes: With Bitcoin holding steady around $95,000 despite recent declines, crypto chart analyst Ali Martinez emphasizes the need for a surge in daily active addresses, transaction volume and whale activity to confirm the continuation of its upward trend.
Crypto trader Wolf predicts that a breakout above $100,000 is likely to ignite retail FOMO, potentially leading to a sharp 20% to 25% correction soon after.
Meanwhile, trader Satoshi Stacker observes that in eight of the past ten months, Bitcoin has bottomed early in the month before rallying. He suggests that if this pattern holds, any dip this week could present a prime buying opportunity.
Crypto analyst Michael van de Poppe highlights a significant bounce at the start of the week, predicting “another test of $98,000.” He adds that Bitcoin could soon achieve a new all-time high, breaking the $100,000 barrier.
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Image: Shutterstock
