Bitcoin Soars Toward $100K Amid a Dip in Coinbase Premium Index
by aria-crypto.com
January 4, 2025 at 03:31
Bitcoin Soars Toward $100K Amid a Dip in Coinbase Premium Index
The Bitcoin price is currently on the brink of reaching $100,000, marking its highest point since late December, as it now trades at $98,000. This surge comes despite the Coinbase Premium Index hitting a two-year low of -0.23%, which indicates a reduced willingness among US investors to pay a premium on Coinbase compared to other exchanges. Crypto analyst Ali Martinez points out that the rebound in Bitcoin's price may suggest increasing institutional interest. Over the past week, the market witnessed a significant withdrawal of 48,000 BTC from exchanges, valued at over $4.5 billion, signaling strong investor confidence. However, Martinez advises caution, as Bitcoin needs to sustain a close above the 50-day moving average of $96,000 to avoid a potential price correction. Meanwhile, Elliot Wave Academy's analysis expects an upcoming strong upward movement, as Bitcoin appears to be in the fourth wave of a major bullish cycle, with potential to rise to between $117,475.70 and $138,058.37. This outlook is bolstered by the substantial withdrawals and the optimistic Elliott Wave analysis, painting a robust future for Bitcoin’s price trajectory.
Most Read
No articles to show at the moment
Read more
>> South Korea's Jeju Island Innovates Tourism with NFT-Integrated Strategy
Jeju Island, located in South Korea, is set to revolutionize its tourism industry by introducing NFT-powered visitor cards in 2025 aimed at attracting younger, technology-savvy tourists. This initiative is a pa...
>> Bitcoin and Microsoft: A Strategic Decision for Stability
Microsoft's recent decision to avoid adding Bitcoin to its balance sheet might well prove to be a prudent move. This action aligns with the company's broader strategy of maintaining financial stability and avoi...
10 hours ago
>> IRS and Crypto Regulations: Navigating Tax Relief and Quantum Concerns
The IRS has announced a significant temporary tax relief for cryptocurrency holders on centralized exchanges, set to take effect in 2025, signaling a possible shift towards more crypto-friendly fiscal policies....
13 hours ago
>> MicroStrategy's $2 Billion Bitcoin Investment Plan: A Strategic Move for 2025
Enterprise software company MicroStrategy has announced plans to raise up to $2 billion in the first quarter of 2025 to invest in Bitcoin, reinforcing its status as the largest corporate holder of the cryptocur...
14 hours ago
>> SEC vs Ripple Update: Critical Developments in the Landmark Crypto Case
John Deaton, a pro-XRP lawyer, has committed to leading an unpaid investigation into "Operation Choke Point 2.0," targeting alleged unfair restrictions on crypto firms by traditional banks. He highlights the si...
18 hours ago
>> US Crypto Movement Strengthens with Mike Johnson's Re-election and Pro-Crypto Congress
Republican and crypto advocate Mike Johnson has narrowly won the Speaker position in the US House, securing 218 votes against 215, amidst challenges from anti-crypto rivals. This victory is significant for the ...
a day ago
>> South African Authority Highlights Bitcoin's Role in Terror Funding
A recent arrest in Johannesburg by South African law enforcement points to the growing concern over the use of cryptocurrencies like Bitcoin in illegal activities. A 35-year-old man has been apprehended on susp...
2 days ago
>> Binance Secures Pioneering Broker-Dealer License from Brazil's Central Bank, Expanding Influence in South America
Binance, the world’s leading cryptocurrency exchange by volume, has been granted a broker-dealer license in Brazil, marking a significant regulatory milestone. This approval from the Central Bank of Brazil foll...
>> China's Strategic Moves Fuel Bitcoin's Ascent Toward $100,000
The price of Bitcoin is on the rise, edging closer to the $100,000 mark, largely driven by a wave of institutional interest and geopolitical developments. Bill Miller IV of Miller Value Partners attributes this...
2 days ago
>> MicroStrategy Expands into Diverse Crypto Holdings: Bitcoin, Dogecoin, and Solana in Focus
MicroStrategy, renowned for its extensive Bitcoin reserves, is pioneering a shift in its strategic direction by embracing a broader range of cryptocurrencies including Dogecoin and Solana. The company, often te...
2 days ago
All the latest crypto news in one place
Stay informed and up-to-date on the market's latest news with our Terminal's News Aggregator with curated news articles and analysis from over 50 sources, including the crypto's biggest publications.
Launch Terminal
