Large Bitcoin holders have resumed significant buying as Bitcoin’s price dipped toward the end of 2024 following its record high, according to Blocktrends analyst Cauê Oliveira.
More than 34,000 Bitcoin, worth approximately $3.2 billion, have been “accumulated by institutional investors, providing buying pressure for the current recovery in Bitcoin,” Oliveira wrote in a Jan. 8 CryptoQuant post.
The accumulation followed a sell-off where wallets holding between 1,000 to 10,000 BTC dumped 79,000 Bitcoin in the week after Dec. 21.
This came days after Bitcoin hit an all-time high of over $108,000 on Dec. 17, driven by the U.S. Federal Reserve’s interest rate cut, which “ended up generating a 15% correction,” Oliveira noted.
He explained that “large players took advantage of the consolidation” by executing multiple smaller trades to accumulate Bitcoin at prices below $95,000.
The seven-day balance change in Bitcoin holdings flipped positive following the late-December sell-off.
At the time of writing, Bitcoin was trading around $94,900, down 2.3% on the day, alongside a broader crypto market dip.
The drop followed U.S. jobs and economic data that dampened expectations of further interest rate cuts by the end of January.
In a Jan. 6 market note, Bitfinex analysts highlighted that sell-side liquidity in Bitcoin markets is “shrinking at a rapid pace,” suggesting that the worst of the price pressure might be over.
Analysts are optimistic about a record rally in 2025, fueled by pro-crypto policies anticipated from President-elect Donald Trump and increasing Bitcoin adoption by nation-states.
Fidelity Digital Assets research analyst Matt Hogan predicted in a Jan. 7 report that “more nation-states, central banks, sovereign wealth funds, and government treasuries will look to establish strategic positions in Bitcoin.”
Blockware analysts suggest that U.S. Bitcoin reserves could drive prices to $150,000 in a worst-case scenario and over $400,000 in the best case.
Elon Invades UK could turn early investors into multi-millionaires, like Shiba Inu (SHIB) and Dogecoin (DOGE) did.
Elon Invades UK (ELONUK), a new Solana memecoin that was launched today, is set to explode over 14,000% in price in the coming days.
This is because ELONUK is set to soon be listed on numerous crypto exchanges, according to reports.
This will give the Solana memecoin exposure to millions of additional investors, who will pour funds into the coin and drive its price up.
Currently, Elon Invades UK can only be purchased via Solana decentralized exchanges, like Jup.ag and Raydium.io, and early investors stand to make huge returns in the coming days.
Early investors in SHIB and DOGE made astronomical returns, and Elon Invades UK could become the next viral memecoin.
Elon Invades UK launched with over $9,000 of liquidity, giving it a unique advantage over the majority of other new memecoins, and early investors could make huge gains.
How to Buy
To buy Elon Invades UK on Raydium.io or Jup.ag ahead of the CEX listings, users need to connect their Solflare, MetaMask, or Phantom wallet, and swap Solana for Elon Invades UK by entering its contract address – JA5sb997xcRGZ9SBaPPUQ58S29Uqic2DEe14fUBjcW3d – in the receiving field.
If you don’t have one of these wallets already, you can create a new wallet in a few minutes and transfer some Solana to it (which will then be used to buy the memecoin), from an exchange like Coinbase, Binance, and many others.
In fact, early investors could make returns similar to those who invested in Shiba Inu (SHIB) and Dogecoin (DOGE) before these memecoins went viral and exploded in price.
If this happens, a new wave of memecoin millionaires could be created in a matter of weeks – or potentially even sooner.
The Solana memecoin craze continues amid larger memecoins, like Shiba Inu (SHIB), Dogecoin (DOGE), and DogWifHat (WIF), trading sideways in recent weeks and losing momentum.
This is why many SHIB, DOGE, and WIF investors are instead investing in new Solana memecoins, like ELONUK.
Such memecoins have no utility and no inherent value, but investors looking for high gains have been investing in them due to their potential to rapidly rise in price.
Republican state senator Dusty Deevers has introduced legislation in Oklahoma to allow residents and employees to opt for salaries in Bitcoin and enable businesses to accept BTC payments.
“In a time when inflation is eroding the purchasing power of hard-working Oklahomans, Bitcoin provides a unique opportunity to protect earnings and investments,” Deevers stated upon introducing the Bitcoin Freedom Act on Jan. 8.
“As Bitcoin continues to rise and the value of the dollar continues to be printed away in Washington D.C., Oklahoma must act to protect our people,” he added.
The proposed bill, SB325, is designed to be entirely voluntary, emphasizing free-market principles.
It allows employees, employers, and businesses to decide whether to use Bitcoin for transactions, salaries, and investments.
One of the bill’s primary objectives is to establish a secure framework for the use of Bitcoin by individuals, businesses, and the state.
Deevers praised President-elect Donald Trump’s pro-Bitcoin stance, stating, “Bitcoin has arrived into the mainstream of our economy and is unquestionably a significant part of the financial future.”
The senator highlighted that the legislation positions Oklahoma as a national leader in embracing financial technology, providing citizens with more financial options.
The Bitcoin Freedom Act will be considered during the 60th legislative session starting Feb. 3.
Deevers, an outspoken critic of inflation, said, “If Washington D.C. can ruin something, it likely will. And it is certainly ruining the US dollar.”
He reiterated his commitment to protecting the financial well-being of his constituents, saying, “One of my biggest campaign promises was to fight for the financial well-being of those I represent.”
On Jan. 9, Deevers also voiced opposition to central bank digital currencies (CBDCs), warning they could lead to government overreach and undermine financial privacy.
“Bitcoin promotes financial sovereignty,” he said, emphasizing its decentralized and censorship-resistant qualities, which safeguard individuals from government interference or inflationary manipulation.
Elon Invades UK could turn early investors into multi-millionaires, like Shiba Inu (SHIB) and Dogecoin (DOGE) did.Elon Invades UK (ELONUK), a new Solana memecoin that was launched today, is set to explode over 14,000% in price in the coming days.
This is because ELONUK is set to soon be listed on numerous crypto exchanges, according to reports.
This will give the Solana memecoin exposure to millions of additional investors, who will pour funds into the coin and drive its price up.
Currently, Elon Invades UK can only be purchased via Solana decentralized exchanges, like Jup.ag and Raydium.io, and early investors stand to make huge returns in the coming days.
Early investors in SHIB and DOGE made astronomical returns, and Elon Invades UK could become the next viral memecoin.
Elon Invades UK launched with over $9,000 of liquidity, giving it a unique advantage over the majority of other new memecoins, and early investors could make huge gains.
How to Buy
To buy Elon Invades UK on Raydium.io or Jup.ag ahead of the CEX listings, users need to connect their Solflare, MetaMask, or Phantom wallet, and swap Solana for Elon Invades UK by entering its contract address – JA5sb997xcRGZ9SBaPPUQ58S29Uqic2DEe14fUBjcW3d – in the receiving field.
If you don’t have one of these wallets already, you can create a new wallet in a few minutes and transfer some Solana to it (which will then be used to buy the memecoin), from an exchange like Coinbase, Binance, and many others.
In fact, early investors could make returns similar to those who invested in Shiba Inu (SHIB) and Dogecoin (DOGE) before these memecoins went viral and exploded in price.
If this happens, a new wave of memecoin millionaires could be created in a matter of weeks – or potentially even sooner.
The Solana memecoin craze continues amid larger memecoins, like Shiba Inu (SHIB), Dogecoin (DOGE), and DogWifHat (WIF), trading sideways in recent weeks and losing momentum.
This is why many SHIB, DOGE, and WIF investors are instead investing in new Solana memecoins, like ELONUK.
Such memecoins have no utility and no inherent value, but investors looking for high gains have been investing in them due to their potential to rapidly rise in price.
Aleš Michl, governor of the Czech National Bank (CNB), has expressed interest in Bitcoin as a potential diversification strategy for the country’s foreign exchange reserves, signaling growing government consideration of cryptocurrency as a savings tool.
In an interview with CNN Prima News, Michl stated he was considering acquiring “a few Bitcoin” for diversification, though it would not constitute a major investment for the bank.
The CNB board, composed of seven members, would need to approve any decision to acquire Bitcoin.
Janis Aliapulios, an adviser to the board, clarified that the bank currently has no plans to invest in Bitcoin. “To sum up, CNB is now not considering buying crypto assets for its reserves. However, Governor Michl did not rule out further future debate on this topic,” Aliapulios told Cointelegraph.
The bank will continue its diversification efforts through increased gold purchases, with plans to raise gold holdings to 5% of total assets by 2028, Aliapulios added.
Bitcoin’s robust returns have made it an attractive potential reserve asset alongside gold. Over the past year, Bitcoin prices surged over 131%, compared to gold’s 30% rise, according to TradingView data.
Michl’s comments indicate a growing trend among governments and institutions reassessing financial strategies to include Bitcoin.
Anndy Lian, blockchain expert and author, remarked, “As more countries ponder this path, we might see a gradual redefinition of what constitutes a ‘safe’ reserve asset. If Bitcoin becomes a staple in national reserves, it could fundamentally alter the landscape of global finance, pushing for more decentralized and digital approaches to economic stability.”
However, Lian also noted Bitcoin’s price volatility could be a “double-edged sword” for national reserves, potentially causing financial fluctuations.
In the United States, Bitcoin’s status as a savings technology continues to gain traction. The Bitcoin Act, proposed by Senator Cynthia Lummis, advocates for a strategic Bitcoin reserve, further advancing its recognition as a reserve asset.
Trump Rally could turn early investors into multi-millionaires, like Shiba Inu (SHIB) and Dogecoin (DOGE) did.
Trump Rally (TRUMPRAL), a new Solana memecoin that was launched today, is set to explode over 19,000% in price in the coming days.
This is because TRUMPRAL is set to soon be listed on numerous crypto exchanges, according to reports.
This will give the Solana memecoin exposure to millions of additional investors, who will pour funds into the coin and drive its price up.
Currently, Trump Rally can only be purchased via Solana decentralized exchanges, like Jup.ag and Raydium.io, and early investors stand to make huge returns in the coming days.
Early investors in SHIB and DOGE made astronomical returns, and Trump Rally could become the next viral memecoin.
Trump Rally launched with over $9,000 of liquidity, giving it a unique advantage over the majority of other new memecoins, and early investors could make huge gains.
How to Buy
To buy Trump Rally on Raydium.io or Jup.ag ahead of the CEX listings, users need to connect their Solflare, MetaMask or Phantom wallet, and swap Solana for Trump Rally by entering its contract address – 9sawQZwuqdxzgtn2ZhD1eeRit425XtaXfdn57RJY6bcM – in the receiving field.
If you don’t have one of these wallets already, you can create a new wallet in a few minutes and transfer some Solana to it (which will then be used to buy the memecoin), from an exchange like Coinbase, Binance and many others.
In fact, early investors could make returns similar to those who invested in Shiba Inu (SHIB) and Dogecoin (DOGE) before these memecoins went viral and exploded in price.
If this happens, a new wave of memecoin millionaires could be created in a matter of weeks – or potentially even sooner.
The Solana memecoin craze continues amid larger memecoins, like Shiba Inu (SHIB), Dogecoin (DOGE) and DogWifHat (WIF) trading sideways in recent weeks and losing momentum.
This is why many SHIB, DOGE and WIF investors are instead investing in new Solana memecoins, like TRUMPRAL.
Such memecoins have no utility and no inherent value, but investors looking for high gains have been investing in them due to their potential to rapidly rise in price.
XRP is attempting to close a daily candle above its descending resistance trendline, which has previously limited the altcoin’s price action.
Successive breaks above the trendline and the resistance range of $2.48–$2.60 could signal bullish momentum, potentially leading to a breakout above $2.72.
XRP Half-Mast Flag Suggests 260% Gains
Market analysts suggest XRP is poised for a major breakout, with timing being critical.
Veteran trader Peter Brandt recently highlighted on X that XRP’s half-mast flag on the weekly chart could complete within six weeks.
This neutral pattern often signals consolidation before a trend continuation.
As per Brandt’s analysis, a bullish completion could see XRP’s market cap reach $500 billion, translating to a 262% price gain or a target of $6.40.
However, he cautioned, “This flag in $XRP needs to rock and roll soon, otherwise it will likely morph into something else TBD.”
Crypto trader Mikybull also noted XRP’s breakout potential, citing a bull flag pattern on the 1-day chart.
Using Fibonacci extension lines, Mikybull outlined an immediate target of $3.74, with a long-term target as high as $15, representing a 514% rise from current levels.
Key Resistance Levels for XRP
For XRP to achieve bullish price targets like $3.74 or $6.40, it must first clear the resistance range between $2.48 and $2.60, which has capped price action multiple times.
A liquidity sweep above $2.60 on Dec. 17 highlighted the importance of this level.
Dom, an order flows analyst, observed that XRP has been stuck in a mid-range around $2.45 for six weeks based on the Volume Weighted Average Price (VWAP) metric.
“The profile is starting to look very balanced, indicating a break is soon. Any dip into the orange VWAP bands, I will be bidding for longs. Full acceptance over $2.45 and things likely start moving fast,” he stated.
While XRP appears well-positioned for a rally, traders should heed Brandt’s warning that a breakdown remains possible if resistance holds.
Trump Rally could turn early investors into multi-millionaires, like Shiba Inu (SHIB) and Dogecoin (DOGE) did.
Trump Rally (TRUMPRAL), a new Solana memecoin that was launched today, is set to explode over 19,000% in price in the coming days.
This is because TRUMPRAL is set to soon be listed on numerous crypto exchanges, according to reports.
This will give the Solana memecoin exposure to millions of additional investors, who will pour funds into the coin and drive its price up.
Currently, Trump Rally can only be purchased via Solana decentralized exchanges, like Jup.ag and Raydium.io, and early investors stand to make huge returns in the coming days.
Early investors in SHIB and DOGE made astronomical returns, and Trump Rally could become the next viral memecoin.
Trump Rally launched with over $9,000 of liquidity, giving it a unique advantage over the majority of other new memecoins, and early investors could make huge gains.
How to Buy
To buy Trump Rally on Raydium.io or Jup.ag ahead of the CEX listings, users need to connect their Solflare, MetaMask or Phantom wallet, and swap Solana for Trump Rally by entering its contract address – 9sawQZwuqdxzgtn2ZhD1eeRit425XtaXfdn57RJY6bcM – in the receiving field.
If you don’t have one of these wallets already, you can create a new wallet in a few minutes and transfer some Solana to it (which will then be used to buy the memecoin), from an exchange like Coinbase, Binance and many others.
In fact, early investors could make returns similar to those who invested in Shiba Inu (SHIB) and Dogecoin (DOGE) before these memecoins went viral and exploded in price.
If this happens, a new wave of memecoin millionaires could be created in a matter of weeks – or potentially even sooner.
The Solana memecoin craze continues amid larger memecoins, like Shiba Inu (SHIB), Dogecoin (DOGE) and DogWifHat (WIF) trading sideways in recent weeks and losing momentum.
This is why many SHIB, DOGE and WIF investors are instead investing in new Solana memecoins, like TRUMPRAL.
Such memecoins have no utility and no inherent value, but investors looking for high gains have been investing in them due to their potential to rapidly rise in price.
Spot Bitcoin exchange-traded funds (ETFs) in the United States accumulated nearly three times the 14,000 coins produced by miners in December 2024.
According to data averaged from Apollo and BiTBO, US spot Bitcoin ETFs added approximately 51,500 BTC in December.
The demand was fueled by strong spot market momentum, with Bitcoin reaching an all-time high of $108,135 on Dec. 17, as reported by CoinGecko.
By comparison, only 13,850 new Bitcoin were added to the circulating supply during the same period, according to Blockchain.com.
This means Bitcoin demand from ETFs was 272% higher than the amount miners produced.
“There’s not enough supply available at current prices to satisfy demand,” said Jesse Myers, co-founder of Onramp Bitcoin, noting that supply-demand price equilibrium would need to be restored as market momentum surged after Donald Trump’s election victory in November.
On Jan. 6, crypto researcher Vivek predicted a “supply shock” as BTC exchange balances fell to record lows.
Major Inflows into Bitcoin ETFs
Bitcoin ETFs continued to attract massive investments.
On Jan. 3, over $900 million worth of Bitcoin was acquired by ETFs.
Preliminary data indicated Jan. 6 was poised to exceed this, with inflows nearing $1 billion.
Bitcoin Mining Production in December
Major mining firms reported their December production figures, showcasing varied output levels.
MARA Holdings, the largest miner by market capitalization, produced 9,457 BTC, leading the industry.
Riot mined 516 BTC, a 4% increase from the previous month, while Cleanspark reported 668 coins.
Core Scientific’s owned fleet generated 291 BTC, Bitfarms mined 211 BTC, Terawulf produced 158 BTC, and cloud mining provider BitFuFu contributed 111 coins.
With ETF demand surging and mining supply limited, the market dynamics suggest continued upward pressure on Bitcoin prices.
Trump Rally could turn early investors into multi-millionaires, like Shiba Inu (SHIB) and Dogecoin (DOGE) did.
Trump Rally (TRUMPRAL), a new Solana memecoin that was launched today, is set to explode over 19,000% in price in the coming days.
This is because TRUMPRAL is set to soon be listed on numerous crypto exchanges, according to reports.
This will give the Solana memecoin exposure to millions of additional investors, who will pour funds into the coin and drive its price up.
Currently, Trump Rally can only be purchased via Solana decentralized exchanges, like Jup.ag and Raydium.io, and early investors stand to make huge returns in the coming days.
Early investors in SHIB and DOGE made astronomical returns, and Trump Rally could become the next viral memecoin.
Trump Rally launched with over $9,000 of liquidity, giving it a unique advantage over the majority of other new memecoins, and early investors could make huge gains.
How to Buy
To buy Trump Rally on Raydium.io or Jup.ag ahead of the CEX listings, users need to connect their Solflare, MetaMask or Phantom wallet, and swap Solana for Trump Rally by entering its contract address – 9sawQZwuqdxzgtn2ZhD1eeRit425XtaXfdn57RJY6bcM – in the receiving field.
If you don’t have one of these wallets already, you can create a new wallet in a few minutes and transfer some Solana to it (which will then be used to buy the memecoin), from an exchange like Coinbase, Binance and many others.
In fact, early investors could make returns similar to those who invested in Shiba Inu (SHIB) and Dogecoin (DOGE) before these memecoins went viral and exploded in price.
If this happens, a new wave of memecoin millionaires could be created in a matter of weeks – or potentially even sooner.
The Solana memecoin craze continues amid larger memecoins, like Shiba Inu (SHIB), Dogecoin (DOGE) and DogWifHat (WIF) trading sideways in recent weeks and losing momentum.
This is why many SHIB, DOGE and WIF investors are instead investing in new Solana memecoins, like TRUMPRAL.
Such memecoins have no utility and no inherent value, but investors looking for high gains have been investing in them due to their potential to rapidly rise in price.