Daily Crypto Analysis By Capital Street FX

Beginner Questions
1

Bitcoin Predicted to Reach $225,000.

KEY HIGHLIGHTS

  • Bitcoin Predicted to Reach $225,000 by 2025
  • XRP Market Cap Exceeds $138 Billion Amid Rally
  • Dogecoin Price Expected to Surpass $11 This Year
  • Ethereum Bulls Aim for Recovery Above $3,500 Level

INTRODUCTION

BlackRock’s spot Bitcoin ETF has seen notable activity, with an outflow of $332.6 million, as reported by Farside Investors. This surpasses the previous record of $188.7 million set on December 24, marking three consecutive trading days of outflows. Despite these withdrawals, BlackRock’s Bitcoin ETF remains a top performer in 2024, showcasing significant inflows and investor interest.

Bitcoin Analysis: A Path to $225,000

A venerable U.S. investment bank, H.C. Wainwright & Co., predicts a substantial upswing for Bitcoin. The institution has revised its year-end 2025 price target from $145,000 to an ambitious $225,000. This projection is based on a blend of historical trends, macroeconomic indicators, and an evolving regulatory landscape.

Moving Averages (Exponential):

  • MA 10: 95,577.2651 | Positive Crossover | Bullish
  • MA 20: 96,297.8300 | Positive Crossover | Bullish
  • MA 50: 93,483.7952 | Positive Crossover | Bullish

Moving Averages (Simple):

  • MA 10: 95,151.5850 | Positive Crossover | Bullish
  • MA 20: 97,496.5445 | Negative Crossover | Bearish
  • MA 50: 96,821.9146 | Negative Crossover | Bearish

Indicators:

  • RSI: 50.3965 | Neutral Zone
  • Stochastic Oscillator: 49.9298 | Neutral Zone

Resistance and Support Levels:

  • R1: 104,116.4308 | R2: 108,119.4959
  • S1: 91,157.3559 | S2: 87,154.2908

Trade Suggestion:

  • Limit Buy: 96,345.6500
  • Take Profit: 108,119.4959
  • Stop Loss: 79,599.9850

XRP Market Cap Surges to $138 Billion

XRP has solidified its position as the third-largest cryptocurrency by market capitalization, surpassing $138 billion. This achievement highlights XRP’s resilience and investor confidence. After consolidating near the $2 mark, XRP climbed above its 50 EMA, signaling a potential shift from bearish to bullish trends. Strong trading volume and robust on-chain activity have played pivotal roles in this rally.

Technical Overview

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Moving Averages (Exponential):

  • MA 10: 2.2654 | Positive Crossover | Bullish
  • MA 20: 2.2397 | Positive Crossover | Bullish
  • MA 50: 1.9586 | Positive Crossover | Bullish

Moving Averages (Simple):

  • MA 10: 2.2152 | Positive Crossover | Bullish
  • MA 20: 2.2747 | Positive Crossover | Bullish
  • MA 50: 2.0205 | Positive Crossover | Bullish

Indicators:

  • RSI: 60.2334 | Neutral Zone
  • Stochastic Oscillator: 85.3192 | Neutral Zone

Resistance and Support Levels:

  • R1: 2.6832 | R2: 2.9325
  • S1: 1.8759 | S2: 1.6266

Trade Suggestion:

  • Limit Buy: 2.4125
  • Take Profit: 2.9325
  • Stop Loss: 1.1728

Ethereum Stabilizes Amid Recovery Efforts

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4

Bitcoin Hits $99K, Ethereum Rebounds.

KEY HIGHLIGHTS

  • Bitcoin Hits $99K, Faces Resistance, Retraces Slightly
  • Ethereum Rebounds to $3.5K, Aims for $4K Breakout
  • Dogecoin Soars 16%, Targets $1 Amid Market Rally
  • Cardano Surpasses $1, Leads Gains Among Top Cryptos

INTRODUCTION

The cryptocurrency market has seen a remarkable resurgence over the past 24 hours, with Bitcoin (BTC) soaring to a multi-week high of $99,000 before a slight pullback. Ethereum (ETH) has also shown significant recovery, trading above the key $3,500 resistance. Meanwhile, other altcoins like Dogecoin (DOGE) and Cardano (ADA) have posted impressive gains, signaling a strong start to the new year for digital assets.

Bitcoin Hits $99K Before Slight Retracement

Bitcoin’s price rally has continued, reaching a high of $99,000—a level last seen weeks ago. This marks a sharp recovery from its mid-December lows of $91,300. Despite the pullback to around $98,000, the bullish sentiment persists as investors remain optimistic about the flagship cryptocurrency’s potential to breach the $100,000 psychological barrier.

Market Drivers

  • MicroStrategy’s $2 Billion Fundraising:
    MicroStrategy, the largest corporate holder of Bitcoin, announced plans to raise $2 billion via perpetual preferred stock offerings. This move underscores the institutional confidence in Bitcoin and has contributed to its upward momentum.

Technical Analysis

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  • Moving Averages (Exponential):
    • MA10: $96,195.85 | Bullish
    • MA20: $96,565.68 | Bullish
  • Resistance Levels:
    • R1: $104,116.43 | R2: $108,119.50
  • Support Levels:
    • S1: $91,157.35 | S2: $87,154.29

Trade Suggestion:

  • Limit Buy: $97,743.42
  • Take Profit: $108,119.50
  • Stop Loss: $79,599.98

Ethereum Rebounds Above $3,500

Ethereum has reclaimed its position above the $3,500 resistance, signaling a potential rally towards the critical $4,000 mark. The current price action highlights strong accumulation at lower levels, with traders eyeing a breakout past $4,000 for sustained bullish momentum.

Technical Analysis

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