30s Summary

As Christmas approaches, Bitcoin has started the week on a high, with expectations for prices to reach beyond $140,000. The Federal Reserve is likely to lower interest rates by 0.25% which could further boost crypto growth. In anticipation of his inauguration, President-elect Donald Trump aims to establish a US Bitcoin reserve. The market value to realised value metric also suggests Bitcoin profitability could continue to increase. Amidst these developments, Bitcoin has high trading volume and future contract values reach new highs, suggesting a great week ahead for the cryptocurrency.

Full Article

Bitcoin is off to a flying start this week as we approach Christmas, with new record highs and lofty price targets. As we delve into a key week for Bitcoin and other cryptocurrencies, we see prices picking up steam just in time for traditional financial markets to open too. There are big expectations for Bitcoin in the coming weeks and months, including predictions of prices reaching $140,000 and beyond. We also have the Federal Reserve (Fed) cutting interest rates by 0.25%, which could power further growth for crypto and risky assets. President-Elect Donald Trump seems eager to create a strategic Bitcoin reserve for the United States, which also has everyone buzzing.

Bitcoin’s entry into another record-breaking week has sparked excitement on all fronts. Despite this being par for the course before a significant interest rate decision by the Fed, Bitcoin surprised some as prices soared. The latest market update suggests that we can expect a very busy week ahead for Bitcoin.

A Bitcoin chart analysis reveals that mid-December tends to see pivotal movements for the cryptocurrency. One analyst predicts that we could see a major upward or downward shift soon, particularly with a Fed rate cut anticipated for December 18th.

Price targets for Bitcoin are anything but modest, with traders feeling more bullish than ever about its performance into the new year and beyond. The price could potentially reach $140,000 or more by mid-January. The market value to realized value (MVRV) metric also suggests that there’s still room for the profitability of held coins to grow.

In the lead-up to their meeting on December 18th, the Fed has drawn lots of attention. A rate cut of 0.25% is widely anticipated, and inflation data continues to pose challenges.

Donald Trump’s plans to establish a Bitcoin reserve is the hot topic this week. There are whisperings of a “day-one executive order” to purchase Bitcoin once he’s in office. Bitcoin had a particularly high trading volume over the weekend, and open interest (the total value of Bitcoin futures contracts) has reached new record highs. All in all, it’s looking like a big week ahead for Bitcoin.