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Bitcoin Drops Below $100,000: The End Or Beginning Of The Crypto Bull Market?

Bitcoin, the titan of the cryptocurrency world with a market cap hovering around $1.9 trillion, has experienced a significant downturn, dipping below the psychological threshold of $100,000. This flash dump, occurring over just three days, has left many investors and analysts questioning whether this marks the end of the current bull market or signals a healthy correction within an ongoing bullish trend. Temporary Setback Or Trend Reversal? The price action has been particularly notable this week, with Bitcoin breaking through the $100,000 support level, which had held strong for eight consecutive days. Market analysts point to several factors contributing to this decline. One significant influence is the market makers’ strategy, which involved driving the price upward to encourage traders to open long positions at around $98,000, thereby increasing liquidity. Related Reading: Is This The Bottom? Experts Weigh In On Bitcoin 13% Dip And Potential Recovery After exhausting this liquidity, market makers strategically used Federal Reserve Chairman Jerome Powell’s speech as a catalyst to drive a downward price movement, effectively filling the price inefficiencies at $93,744 (50%) and $90,513 (100%). Analysts explained, “The Bitcoin drop was necessary as there were inefficiencies below the price that needed to be filled, which are $93,744 for 50% and $90,513 for 100%. The inefficiency rule states that traders must fill either 50% or 100% of the inefficiency.” They added that market makers “purposely took the price upward to induce traders to open long positions, thereby increasing the liquidity at $98,000. Exhausted market makers decided to wipe out the liquidity at $98,800 and used Powell’s speech as a catalyst to fuel the downward movement.” Experts now predict a bounce to $101,000 before either a pullback or a continuation of the trend, as the $93,788-$92,200 range currently acts as robust support. This zone has seen significant buy orders, aligning with the 50% inefficiency recently filled. A bounce from this level appears inevitable. BlackRock And Institutional Moves Signal Confidence In Bitcoin Amid the volatility, BlackRock, one of the world’s leading asset management firms, has made headlines for its substantial investments in Bitcoin. According to insights from Arkham Intelligence, BlackRock has not only net bought Bitcoin while other ETFs were selling but has also amassed a considerable amount, now holding 122.6K BTC. This makes BlackRock the 11th largest holder of Bitcoin, controlling roughly 0.6% of the circulating supply. Related Reading: Bitcoin Crashes: Here’s Where The Nearest On-Chain Support Is Their aggressive accumulation, including a recent $1.5 billion purchase, contrasts sharply with the broader market’s net selling of $785 million in BTC this week. BlackRock’s actions have sparked discussions on platforms like X, with many applauding or humorously noting their transition from traditional assets to digital currencies. Additionally, BlackRock’s involvement in the crypto market was underscored by their BUIDL Fund receiving $100 million USDC, signaling a strategic pivot towards digital assets. Such a heavyweight in finance could interpret this move as a vote of confidence in the long-term viability of cryptocurrencies, potentially influencing market sentiment and dynamics. Market Sentiment: Fear Or Opportunity? The market’s current sentiment, as measured by the Fear and Greed Index, remains in the ‘greed’ zone at 62, indicating minimal fear among investors. Instead, the dip below $100,000 is viewed by many as a buying opportunity, with expectations of an imminent recovery. Analysts predict a bounce back to around $101,000 before any significant pullback or continuation of the current trend, supported by robust buying at the $93,788-$92,200 range, which aligns with the recently filled 50% inefficiency level. Featured image from iStock, chart from Tradingview.com NullTx

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Cardano Eyes $6 As ADA, DOGE and RBLK Attract Unprecedented Whale Interest

The post Cardano Eyes $6 As ADA, DOGE and RBLK Attract Unprecedented Whale Interest appeared first on Coinpedia Fintech News Whales are rebalancing their portfolios for a blistering year ahead, with Cardano (ADA), Dogecoin (DOGE) and Rollblock (RBLK) at the top of most lists. Many whales are talking about Cardano’s potential rally to $6, but they are most excited about crypto casino Rollblock’s 1000% potential. This top altcoin has created a next-generation online gambling experience and is looking at explosive growth when its crypto presale ends. Rollblock Tops Whale Interest With Enormous Revenue Potential Rollblock is a revolutionary next-generation GambleFi protocol set to disrupt the $500 billion casino industry. The global gambling industry is ripe for a blockchain technology revolution, with a rapidly increasing share of this revenue moving online each day. Legacy online gambling sites are still slow, dull and riddled with red tape and hidden fees. Rollblock’s casino of more than 7,000 games and sports betting is changing this. Rollblock’s platform operates on the blockchain, which means fast, seamless and transparent access from anywhere in the world through over 20 different crypto tokens. Rollblock has also enhanced the player experience through the latest in UX design and a community-focused approach. This community focus includes a generous suite of rewards programs and fresh events each month. However, its most important element is its game-changing profit-sharing system. Rollblock’s system works through buybacks that employ a portion of the casino’s weekly revenue. These buybacks share profit back with the community through either burn events that increase RBLK’s value or through staking rewards that are competitive with current industry standards. $RBLK tokens are currently selling out fast during stage nine of its presale, with tokens valued at $0.043. With early investors already seeing returns of over 300% experts are making extremely bullish predictions of over 800% returns going into 2025. Cardano Midnight Upgrade Sets Course for $6 by 2026 Cardano is also seeing massive whale interest thanks to its imminent Midnight upgrade. The Midnight upgrade will see Cardano build a sidechain dedicated to processing transactions that limit public information. This will make Cardano the ideal platform for DeFi applications that need to confirm transactions while hiding the details involved. The Cardano price is expected to increase to over $6 by 2026 on this rapid DeFi expansion. This would be an over 500% increase from the current price and more than double its all-time high from 2021. Dogecoin to Be Meme Coin of 2025 Thanks to Trump Presidency The Dogecoin price is expected to continue its association with Elon Musk and the Donald Trump presidency in 2025. This association could send the Dogecoin price as much as 1000% higher as Trump and Musk dominate the headlines for the year. Dogecoin has been the top meme coin destination for crypto enthusiasts looking to celebrate Trump’s win and Musk’s creation of the Department of Government Efficiency. This association already took Dogecoin 500% higher in November with Dogecoin currently trading at $0.2892. Rollblock Top Altcoin for Crypto Whale Portfolios in 2025 While Dogecoin and Cardano look promising for 2025, Rollblock is the undisputed top altcoin for crypto whales. With experts predicting a huge 100x rally out of its crypto presale, Rollblock is being added to whale portfolios now before it is too late. Discover the Exciting Opportunities of the Rollblock (RBLK) Presale Today! Website: https://presale.rollblock.io/ Socials: https://linktr.ee/rollblockcasino NullTx