A brief technical and on-chain analysis on Bitcoin price. Here, FXStreet's analysts evaluate where BTC could be heading next as it seems bound for a rebound before capitulation.
Author
FXStreet Team
FXStreet
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Aave (AAVE) price is trading above $204 at the time of writing on Friday and approaching the upper boundary of its descending parallel channel; a breakout from this structure would favor the bulls.
Meme coins, including Dogecoin (DOGE), Shiba Inu (SHIB), and Pepe (PEPE), struggle to regain strength as the broader cryptocurrency market recovers. Derivatives data reveals fresh retail demand as Open Interest of DOGE, SHIB, and PEPE futures surge.
Terraform Labs founder Do Kwon was sentenced to 15 years in prison by a New York federal court on Thursday for his role in organizing one of the largest cryptocurrency frauds in history.
Bitcoin (BTC) and Ethereum (ETH) are nearing the key resistance levels at the time of writing on Friday, and a successful breakout could open the door for a fresh rally. Meanwhile, Ripple (XRP) is stabilizing around a crucial support zone, hinting at a potential rebound if buyers maintain control.
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Bitcoin (BTC) continues de trade within the recent consolidation phase, hovering around $92,000 at the time of writing on Friday, as investors digest the Federal Reserve’s (Fed) cautious December rate cut and its implications for risk assets.