Price Analysis

Bitcoin has bounced back above $92,000 after a sharp drop, with analyst Michaël van de Poppe suggesting the market may have bottomed. The breakthrough of the $92K resistance level could pave the way for a new all-time high and a test at $100K.

Ethereum’s price jumped 9.5% to around $3,050, coinciding with a surge in optimistic derivatives positions. Traders are heavily betting on a further rise to €5,600 ($6,500), with over €326 million in open interest for call options at that strike price, despite the asset’s 35% decline this quarter.

Ethereum is up nearly 9% as the market reacts to the upcoming Fusaka upgrade. Analysts are divided, with some pointing to a critical support level at $2,800, while others warn of high leverage and potential volatility.

The crypto market is in full rally mode, with Bitcoin climbing 8% and numerous altcoins posting even larger gains, some exceeding 30%. The surge marks a strong reversal from recent sharp price declines.

Despite a 25% year-to-date decline and a 44% drop from its July peak, technical analysts are spotting bullish signals for XRP, including a bullish divergence on the RSI and a hold above key historical levels.

Ethereum’s price has fallen below the critical $3,000 support level, risking a further decline towards $2,850. However, the MVRV Z-Score indicator suggests the asset may be undervalued and could be nearing a bottom.

Bitcoin is trading in a narrow range amid heavy selling from long-term holders. Analyst Ali Martinez warns that a break below the $83,300 support level could trigger a steep decline to $66,900.

Despite a significant price drop, Fundstrat’s Tom Lee predicts Bitcoin will hit a new all-time high by the end of January. He cites a recovering stock market and a potentially less aggressive Fed as key drivers, while his firm, Bitmine, continues to aggressively accumulate Ethereum.

The price of XRP fell by 6.5% to around $2, with trading volume surging over 90%. Analysts are watching the $2 psychological support level, while some point to a historical pattern from 2017 that preceded a massive price increase.

Bitcoin’s price has dropped over 5% in early December, triggering a rare bearish signal on the monthly MACD indicator. This signal has previously preceded major bear markets, raising concerns, though past performance doesn’t guarantee future results.