• Bitcoin price movements are influenced by general market sentiments.
  • BTC and major altcoins stay in in the ranges with bearish bias.

BTC/USD has been sitting in a tight range for about a month, some factors imply that a huge bullish trend may be around the corner. The number of Bitcoin long-term holders is in the rise, and it is a bullish signal, according to the on-chain cryptocurrency analytical service Glassnode. 

"The last time we saw this amount of #Bitcoin that had not moved in over a year, was in early 2016 – preceding $BTC's bull run to $20k."

At the current price, over 70% of Bitcoin holders are making money, while only 23.8% addresses are in the red zone. A big cluster of 2 million addresses has a breakeven price in the range from $9,200 to $9,500 which explains while BTC bulls have a hard time pushing the price above this area.

Top-3 coins overview

BTC/USD touched the area close to $8,800 during the weekend; however, all moves below $9,000 critical level are still heavily bought. At the time of writing, BTC/USD is changing hands at $9,080, mostly unchanged since the start of the day and on a day-to-day basis. The coin  may be vulnerable to sharp market movements amid a new wave of anti-risk sentiments. The local resistance is created by daily SMA50 on approach to $9,400. 

BTC/USD daily chart

ETH/USD settled at $222.40 having recovered from the intraday low of $221.08. The coin is moving within the narrow channel with the bearish bias. The coin has lost over 1% since the start of Monday, however, the further sell-off may be limited by the daily SMA50 and the lower line of the Bollinger Band at $222.00. 

ETH/USD daily chart

XRP/USD is changing hands at $0.1750. The cryptocurrency recovered from the weekend low of $0.1690, but the further upside is limited due to high level of uncertainty on the market.  The coin has stayed mostly unchanged both since the start of the day and on a day-to-day basis, however the short-term bias is bearish. The critical resistance is created by a combination of daily SMA100 and the middle line of the daily Bollinger Band at $0.1930. The support comes at $0.1700.

XRP/USD daily chart



Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.

Recommended content


Recommended Content

Editors’ Picks

IRS says crypto staking should be taxed in response to lawsuit

IRS says crypto staking should be taxed in response to lawsuit

The IRS stated that rewards from cryptocurrency staking are taxable upon receipt, according to a Bloomberg report on Monday, which stated the agency rejected a legal argument that sought to delay taxation until such rewards are sold or exchanged.

More Cryptocurrencies News
Solana dominates Bitcoin, Ethereum in price performance and trading volume: Glassnode

Solana dominates Bitcoin, Ethereum in price performance and trading volume: Glassnode

Solana is up 6% on Monday following a Glassnode report indicating that SOL has seen more capital increase than Bitcoin and Ethereum. Despite the large gains suggesting a relatively heated market, SOL could still stretch its growth before establishing a top for the cycle.

More Solana News
Ethereum Price Forecast: ETH risks a decline to $3,000 as investors realize increased profits and losses

Ethereum Price Forecast: ETH risks a decline to $3,000 as investors realize increased profits and losses

Ethereum is up 4% on Monday despite increased selling pressure across long-term and short-term holders in the past two days. If whales fail to maintain their recent buy-the-dip attitude, ETH risks a decline below $3,000.

More Ethereum News
Crypto Today: BTC hits new Trump-era low as Chainlink, HBAR and AAVE lead market recovery

Crypto Today: BTC hits new Trump-era low as Chainlink, HBAR and AAVE lead market recovery

The global cryptocurrency market cap shrank by $500 billion after the Federal Reserve's hawkish statements on December 17. Amid the market crash, Bitcoin price declined 7.2% last week, recording its first weekly timeframe loss since Donald Trump’s re-election. 

More Cryptocurrencies News
Bitcoin: 2025 outlook brightens on expectations of US pro-crypto policy

Bitcoin: 2025 outlook brightens on expectations of US pro-crypto policy

Bitcoin price has surged more than 140% in 2024, reaching the $100K milestone in early December. The rally was driven by the launch of Bitcoin Spot ETFs in January and the reduced supply following the fourth halving event in April.

Read full analysis
Best Forex Brokers with Low Spreads

Best Forex Brokers with Low Spreads

VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.

Read More

BTC

ETH

XRP