Bitcoin’s success story continues. After a brief pullback toward the $30K low, the benchmark cryptocurrency is once again aiming for $40K. Over the past 24 hours, Bitcoin has added more than 12% and is trading near $38K. Bitcoin’s dominance index holds around 70%, while the total capitalization of the crypto market has once again surpassed $1 trillion. This threshold now has a psychological impact on retail crypto market participants, confirming the course for further growth. In 2017, the crypto market was already approaching this mark, but afterwards, a massive correction began, which led to the “crypto winter”. Now we are witnessing that the crypto machine is actively gaining speed near this level, which encourages investor optimism.
Previously, Bitcoin faced multiple waves of corrections as it approached $20K, and now the coin may face waves of profit-taking as it reaches $40K. Nevertheless, the crypto community is waiting for growth up to $50K. Given the volatile nature of the crypto market, this price level is realistic. Institutional investors at the end of last year voiced growth targets not only above $100K but even as high as $300K, suggesting the potential for multiple increases from current levels.
Altcoins supported the growth of the first cryptocurrency. Altcoins are now the riskiest assets to invest in as they attract the most retail demand and are therefore more prone to correction compared to BTC.
The largest 100 Bitcoin wallets have been very bullish over the past 30 days. In total, almost 350,000 new bitcoins appeared in these wallets. Even more optimistic news is that most of these addresses did not react in any way to the correction. Withdrawal transactions were recorded at a very small number of Bitcoin addresses.
Nevertheless, it’s worth noting that the inflow of new funds into the crypto sector dropped significantly during the first week of January. According to CoinShares, only $29 million was invested in institutional crypto funds during the first week of the new year. In the week before Christmas, big capital invested over $1 billion.
While this could be attributed to the fact that many investors were on the winter holidays. Should the inflows to crypto funds not increase closer to the end of January, it could mean that big capital decided to stop crypto purchases.
# | Crypto | Prediction | Accuracy | CVIX | Price | 24h | 7d | Market Cap | 7d price change | |
1 | BTC | Bitcoin predictions | 60.8% | 76 | $65 916.61 | -3.02% | -7.85% | $1 295 797 715 501 | ||
---|---|---|---|---|---|---|---|---|---|---|
2 | ETH | Ethereum predictions | 66.4% | 68 | $3 431.41 | -4.76% | -14.87% | $412 034 451 178 | ||
3 | USDT | Tether predictions | 96% | 1 | $1.000111 | 0.05% | -0.01% | $103 629 685 403 | ||
4 | SOL | Solana predictions | 65.2% | 79 | $184.76 | -9.30% | 21.28% | $82 013 896 110 | ||
5 | BNB | Binance Coin predictions | 58.4% | 90 | $536.11 | -5.15% | 0.39% | $80 168 471 194 | ||
6 | XRP | XRP predictions | 68.4% | 59 | $0.615485 | -1.01% | -11.06% | $33 728 706 402 | ||
7 | USDC | USD Coin predictions | 92.4% | 2 | $1.000282 | 0.02% | 0.02% | $31 270 163 169 | ||
8 | ADA | Cardano predictions | 64% | 76 | $0.633413 | -5.90% | -16.65% | $22 527 010 926 | ||
9 | AVAX | Avalanche predictions | 67.6% | 73 | $58.80 | -3.66% | 20.83% | $22 184 253 510 | ||
10 | DOGE | Dogecoin predictions | 58.4% | 89 | $0.136184 | -10.14% | -21.98% | $19 545 943 977 | ||
11 | SHIB | SHIBA INU predictions | 54.4% | 94 | $0.000026 | -10.09% | -22.02% | $15 230 374 615 | ||
12 | DOT | Polkadot predictions | 57.2% | 87 | $9.40 | -6.22% | -13.91% | $13 389 000 592 | ||
13 | TON | Toncoin predictions | 69.2% | 69 | $3.67 | -6.90% | 3.81% | $12 734 927 068 | ||
14 | TRX | TRON predictions | 88% | 19 | $0.123224 | -2.38% | -7.45% | $10 822 853 238 | ||
15 | WTRX | Wrapped TRON predictions | 83.2% | 21 | $0.123213 | -2.12% | -7.65% | $10 821 889 738 |
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