Bitcoin (BTC) 
$98,421 price has surpassed $98,000 again, but six-digit prices have not yet been reclaimed. Market participants are relieved that the risk of a larger correction down to $85,000 has diminished. What data supports the bullish sentiment in the short-term outlook for the markets? Let’s examine recent forecasts from various market sources.
Will Cryptocurrencies Rise?
Individual demand is reviving, and if this trend continues, a new altcoin surge led by meme coins may begin. Analyst Kyle shared promising figures regarding individual investors, highlighting data from Coinbase Global in today’s assessment.
“Coinbase International is experiencing a boom!
Last week, $119 billion in transactions occurred – $20 billion daily, a 164% increase from the previous week.
The daily average of $10 billion in December has outpaced November’s $2.5 billion.
Individual investors are waking up, and the market is heating up quickly!”
Daan Crypto Trades, discussing the current situation for BTC, expressed contentment with the price hovering around $98,500. However, he also noted that significant movements may not occur until the year-end.
“BTC has broken the local high-volume point. It appears favorable for a higher move as long as it trades above $98.5K. The markets are closed today, so we expect price movements to be slow and fluctuating. If I had to guess, there may not be significant movement until the new year.”
The total volume in cryptocurrency markets is $141 billion, regaining a total market cap of $3.43 trillion. While BTC dominance has slightly weakened, altcoin investors remain eagerly hopeful for a sudden rise. In the weekly chart, BTC losses have decreased to about 6%, while ETH has yet to reclaim $3,500 as support.
Analyst known as Fella has turned attention to VANRY Coin. Sharing the graph below, this analyst expressed satisfaction with the recovery after a pullback to the demand zone. If conditions remain favorable, VANRY Coin could reclaim $0.24.
The slight recovery in leading altcoins like XRP and SOL could help establish a bullish groundwork later on if it continues through the day.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
