Bitcoin (BTC) looks set to end 2024 below the $100,000 mark unless a major bump in price occurs before the year ends. The cryptocurrency spent most of the weekend hovering just above $95,000. However, it dipped significantly late on Sunday night and by early Monday morning had dipped to a low of $92,942 before recovering to its current level of $93,690, down almost 1.50% over the past 24 hours.
Several other cryptocurrencies, including Ethereum (ETH), Ripple (XRP), and Solana (SOL), registered notable losses. Dogecoin (DOGE), Toncoin (TON), Cardano (ADA), Polkadot (DOT), Stellar (XLM), and Litecoin (LTC) also recorded substantial losses.
What To Expect In 2025
Bitcoin (BTC) and the cryptocurrency market have capped a hugely successful 2024, with analysts, traders, and institutions optimistic about 2025 and further price increases. BTC saw a considerable rally at the beginning of the year following the approval of spot Bitcoin ETFs, which sparked interest in the asset. This was followed by the Bitcoin halving event, slashing the number of BTC awarded to miners, creating an imbalance between demand and supply, sending the price higher. Donald Trump’s victory in November acted as the catalyst needed for BTC to cross the $100,000 mark for the first time.
Trump’s victory is being seen as a game-changing development for the crypto industry, with the President-elect making several promises on the campaign trail, including creating a strategic Bitcoin reserve. Trump has also nominated Paul Atkins, known for his crypto-friendly views, as SEC Chair. However, markets have adopted a wait-and-watch stance. Delphi Ventures General Counsel Sarag Brennan stated,
“Trump’s stance on [decentralized finance (DeFi)] and crypto has been somewhat inconsistent. While he has expressed interest in the space, much of his focus seems limited to supporting dollar dominance and real estate applications.”
Now, let’s talk about BTC. Analysts expect the world’s largest cryptocurrency to reach $200,000, while VanEck has taken a slightly conservative stance, predicting it will reach $180,000. While such predictions have been made in the past, BTC’s jump above $100,000 shows nothing is out of reach for the asset. With the asset approaching its 21 million limit, demand is picking up and will send its price surging. Some economists and analysts have called BTC’s current price action a “supercycle.” However, the Federal Reserve could crash the BTC party after significantly scaling back rate cuts for 2025 and going on record to state it is not allowed to hold BTC.
But will BTC’s rally spill over to altcoins? Analysts and market watchers expect friendlier regulations. This is why many institutions have already sent applications for ETFs related to major altcoins like XRP, indicating the market is ready to shift beyond BTC and ETH.
VC Funding To Be Stronger In 2025
According to PitchBook analyst Robert Le, VC funding will be significantly stronger in 2025 compared to 2024. According to Le, 2023 was a challenging year for crypto funding due to several market factors, including the collapse of FTX, which led to an erosion of trust and higher interest rates. However, 2024 started positively, with markets picking up momentum following the launch of spot Bitcoin ETFs.
“We’re going to see $18 billion or more in venture capital dollars that’s going to be invested into crypto. That’s a 50% increase from 2024 but still less than the roughly $30 billion “that was invested in 2021 and 2022.”
Bitcoin (BTC) Price Analysis
Bitcoin (BTC) has seen quite a slump since it hit its new all-time high of $108,268. Since then, BTC has slipped below $100,000 and has struggled to regain momentum and resume its upward trajectory. BTC has failed to reclaim the $100,000, going below it on Thursday (December 19). Sellers dragged the price lower on Friday as it dipped to an intraday low of $92,072. However, it recovered from this level to register a marginal increase and settle at $98,124. Buyers attempted a recovery on Saturday as the price rose to an intraday high of $99,942. However, BTC lost momentum at this level and dropped by 0.63% to $97,505. Bearish sentiment intensified on Sunday as BTC registered a drop of 2.26% to end the weekend at $95,303.
Source: TradingView
BTC began the previous week in the red, registering a marginal drop to go below $95,000 and settling at $94,830. However, it made a strong recovery on Tuesday, rising just over 4% and moving to $98,677. Buyers retained control on Wednesday, and BTC rose by 0.74% to settle at $99,409. However, it could not push above the $100,000 level as sellers took over, driving BTC down almost 4% on Thursday to $95,691. Buyers attempted to mount a recovery and prevent a drop below $95,000. However, they were unsuccessful, as BTC dropped by 1.52% and settled at $94,241.
The weekend began with a recovery as BTC registered an increase of 0.89% and settled at $95,077. However, the recovery was short-lived as BTC returned to the red on Sunday, dropping almost 2% and settling at $93,475. The current session sees BTC marginally down as sellers look to drive it down to $90,000. If sellers maintain control, BTC could dip to $90,000 before recovering. However, if buyers can regain control, BTC will look to reclaim $95,000 and push on towards the $100,000 level.
Ethereum (ETH) Price Analysis
Ethereum (ETH) is trading sideways below the $3,500 level as it struggles to build momentum and regain lost ground. ETH dipped below the 20-day SMA on Wednesday (December 18). The price continued to drop on Thursday, falling to $3,415. Sellers dragged ETH to an intraday low of $3,096 on Friday as selling pressure intensified. However, it recovered from this level to register an increase of 1.62% and settled at $3,470. However, ETH was back in the red on Saturday, dropping below the 50-day SMA and settling at $3,337. Sellers retained control on Sunday as ETH dropped almost 2% to $3,279.
Source: TradingView
Buyers returned to the market on Monday as ETH registered an increase of 4.27% and moved to $3,419. It went above the 50-day SMA on Tuesday after a 2.11% increase and settled at $3,491. However, it could only manage a marginal rise on Wednesday, thanks to strong resistance around $3,500. ETH was back in the red on Thursday, falling almost 5% to $3,333. Buyers attempted a recovery on Friday as ETH rose to an intraday high of $3,438 before losing momentum. As a result, ETH fell and registered a marginal increase to settle at $3,331.
ETH started the weekend positively, registering an increase of 2.14% on Saturday and moving to $3,402. However, it was back in the red on Sunday, dropping 1.46% to $3,352. The current session sees ETH up just over 1% and trading around the $3,400 mark. If buyers retain control, we could see ETH attempt to push towards $3,500.
Solana (SOL) Price Analysis
Solana (SOL) is struggling to build momentum and reclaim $200, as it comes up against significant selling pressure at that level. SOL slipped below $200 on Thursday (December 19) when it dropped to $193. Sellers retained control on Friday as SOL dipped to an intraday low of $175 before recovering and settling at $194. However, bearish sentiment returned on Saturday as SOL fell almost 7% to $181. A marginal drop on Sunday took SOL to $180. SOL started the previous week on a very positive note, registering an increase of 5.30% to move to $189. Buyers retained control on Tuesday as the price rose to $197.
Source: TradingView
SOL could only manage a marginal increase on Wednesday, thanks to selling pressure around the $200 level. SOL was back in the red on Thursday dropping 4.57% to $188. Sellers retained control on Friday as the price continued to drop, falling to $184 after a decline of 2.24%. Buyers returned to the market on Saturday as SOL surged over 6% to $195. However, it was back in the red on Sunday, dropping almost 3% to end the weekend at $189. The current session sees SOL marginally down as buyers and sellers struggle to establish control.
Dogwifhat (WIF) Price Analysis
Dogwifhat (WIF) struggled to reclaim $2 after falling below the key level last weekend. WIF had dropped to an intraday low of $1.72 last Friday as sellers took control. However, it recovered from this level to reclaim $2 and register an increase of 1.99% to settle at $2.10. Buyers attempted to push higher on Saturday but were unsuccessful as sellers took control. As a result, WIF dropped over 10% to slip below $2 and settle at $1.88. The price recovered on Sunday, reaching an intraday high of $2.04. However, it could not stay at this level and ultimately settled at $1.91. Buyers retained control on Monday as WIF reclaimed $2 to settle at $2.02, and an increase of 1.36% on Tuesday pushed the price to $2.05.
Source: TradingView
However, sentiment changed on Wednesday as WIF dropped 3.41% to go below $2 and settle at $1.98. Bearish sentiment intensified substantially on Thursday as the price dropped almost 8% to $1.82. A marginal drop on Friday took WIF down to $1.81. WIF recovered on Saturday as it registered an increase of 5.52% and moved to $1.91 before dropping just over 4% to end the weekend at $1.83. The current session sees WIF marginally up as buyers look to build momentum and push towards $2.
Chainlink (LINK) Price Analysis
Chainlink (LINK) plummeted to an intraday low of $19.99 last Friday as sellers attempted to drive it below support levels. However, it recovered from this level to register an increase of 2.62% and settled at $23.38. Buyers attempted a recovery on Saturday as LINK rose to an intraday high of $24.92. However, LINK lost momentum after reaching this level, allowing sellers to take control. As a result, the price dropped 5.51% to $22.09 before registering a marginal drop on Sunday to end the weekend on a bearish note. LINK made a strong recovery on Monday, surging over 11% to $24.53. Buyers retained control on Tuesday as LINK rose to $25.42 after registering an increase of almost 4%.
Source: TradingView
However, it could not move past the 20-day SMA, allowing sellers to take control on Wednesday. As a result, LINK dropped almost 4% to $24.42. Selling pressure intensified on Thursday as LINK fell over 7% to $22.66. Buyers retained control on Friday as LINK dipped below $22 to settle at $21.54. The weekend began with LINK registering an increase of 2.02% and settling at $21.97. However, it was back in the red on Sunday, dropping almost 5% and settling at $20.94. The current session sees LINK up nearly 2% as it rebounds from the 50-day SMA.
Arbitrum (ARB) Price Analysis
Arbitrum (ARB)’s decline saw its price slip below key support levels and moving averages. The price dipped below the 50-day SMA on Thursday (December 19) and had fallen to $0.719 by Sunday. However, ARB started the previous week on a positive note, rising over 7% and settling at $0.799. Buyers retained control on Tuesday, rising 2.29% and settling at $0.817. However, bullish sentiment lost momentum after reaching this level, as ARB fell 1.55% on Wednesday and settled at $0.805. Selling pressure intensified substantially on Thursday as ARB dropped 6.51% to $0.752.
Source: TradingView
Friday saw a marginal recovery as ARB rose to an intraday high of $0.794 before settling at $$0.759. Bullish sentiment persisted on Saturday as the price rose just over 2% and settled at $0.774. However, ARB was back in the red on Sunday, ending the week down by 4.32% and trading around $0.741. The current session sees ARB up by 3.47% and trading around $0.766.
Immutable (IMX) Price Analysis
Immutable (IMX) is struggling to go above the 200-day SMA and reclaim the $1.50 level, as selling pressure around $1.46 prevents a price increase. IMX dipped below the 200-day SMA on Thursday (December 19) after registering a drop of almost 10%. Sellers drove the price to an intraday low of $1.22 on Friday. However, IMX recovered from this level to register an increase of 2.56% and settle at $1.22. Buyers attempted a move past the 200-day SMA on Saturday as IMX rose to an intraday high of $1.53. However, IMX could not stay at this level and fell below the 200-day SMA, ultimately registering a drop of 8.30% and settling at $1.32. Sellers retained control on Sunday as the price dropped just over 1% to $1.31.
Source: TradingView
However, bullish sentiment returned on Monday as IMX rose over 10% and settled at $1.44. Buyers retained control on Tuesday, pushing IMX to $1.47. However, IMX could not move past the 200-day SMA and $1.50, losing momentum on Wednesday and dropping just over 3% to $1.43. Selling pressure intensified considerably on Thursday as IMX dropped almost 7% and settled at $1.33. Sentiment changed on Friday as IMX reached an intraday high of $1.45 before settling at $1.38, ultimately registering an increase of 3.52%. The weekend saw buyers retain control on Saturday as IMX rose almost 4% to $1.43. However, it was back in the red on Sunday, dropping nearly 6% to $1.35. The current session sees IMX up by 4.49% and trading around the $1.41 mark as buyers look to build momentum and push toward $1.50.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
