Ethereum Gains Momentum as Bitcoin Struggles Amidst Trump's Pro-Crypto Influence

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25.12.2024 121 times read 0 Comments

Cryptocurrencies Price Prediction: Ethereum, Bitcoin & Trump

The cryptocurrency market is witnessing a dynamic shift as institutional capital flows into Ethereum, while Bitcoin continues to experience outflows. According to FXStreet, Spot ETFs for Ethereum have reached significant milestones with increasing inflows, contrasting the declining demand for Bitcoin's Spot ETFs. This trend highlights a growing interest in alternative cryptocurrencies amidst fluctuating investor sentiments.

Bitcoin has been facing increased sell-side pressure from large investors or 'whales,' leading its price to plummet below $25,000—the lowest since late November. The surge in whale transactions suggests potential further declines unless buying momentum picks up significantly. Meanwhile, Donald Trump's re-election and his administration’s pro-crypto policies are reportedly sparking global enthusiasm among young investors towards digital currencies.

XRP News Today: Ripple vs SEC – Will the Agency Pursue an Appeal?

The ongoing legal battle between Ripple and the Securities and Exchange Commission (SEC) remains uncertain as the deadline for filing an appeal approaches on January 15th. As reported by FX Empire, if the SEC decides against pursuing an appeal following recent political shifts favoring crypto-friendly policies under Trump's leadership, XRP could see substantial gains potentially reaching $3.55.

This uncertainty affects not only XRP but also broader market dynamics, including Bitcoin, which recently hit highs of over $39k amid speculation about major firms adopting BTC strategies similar to those advocated by Michael Saylor of MicroStrategy fame.

Bitcoin Could Reach Its Cycle Peak Soon

A report from MarketWatch indicates that historical patterns suggest Bitcoin might reach its cycle peak within three weeks despite current volatility surrounding Federal Reserve policy announcements impacting financial markets broadly last week. After breaching past records earlier this month at approximately $68k, before retreating largely because fewer rate cuts than expected were announced; analysts remain optimistic regarding near-term prospects given prevailing macroeconomic conditions conducive toward continued growth across various sectors globally, directly benefiting cryptos like BTC for the long term.

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