Bitcoin, Ethereum, Dogecoin Take Christmas Pause Amid $93M Longs Liquidation: Analyst Sees All-Time Highs For BTC In Just 2 Months On Key Indicator
Portfolio Pulse from Mehab Qureshi
Cryptocurrencies experienced a slight dip on Christmas Eve, with $93M in longs liquidated. Bitcoin, Ethereum, and Dogecoin saw minor losses, while Solana's SOL surpassed $100. Axie Infinity, ORDI, and Quant were top gainers. The S&P 500 rose after cooler inflation data. Analysts predict a bullish trend for Bitcoin, with potential new all-time highs in two months based on the OBV indicator. Negative sentiment was noted for STORJ, ILV, LTC, and DYDX, which may indicate upcoming price bounces.
December 25, 2023 | 1:08 pm
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NEUTRAL IMPACT
Dogecoin's price decreased slightly amid the market's overall dip. Short-term impact is likely neutral given the small change in price.
Dogecoin's minor loss is in line with the general market trend, suggesting a neutral short-term impact on its price.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 50
NEUTRAL IMPACT
Ethereum saw a slight decrease in price with over $11 million in longs liquidated. The overall market sentiment remains cautiously optimistic.
The liquidation of longs could put short-term pressure on Ethereum's price, but the market sentiment does not indicate a significant negative impact.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
Axie Infinity's AXS was the top gainer with a 37.10% increase, indicating strong positive sentiment and potential for continued short-term gains.
AXS's position as the top gainer reflects strong market confidence, which could drive further price increases in the short term.
CONFIDENCE 75
IMPORTANCE 75
RELEVANCE 70
POSITIVE IMPACT
Bitcoin experienced a minor loss and $24 million in longs were liquidated. Analysts predict a bullish trend and potential all-time highs in two months based on OBV indicator.
The liquidation of longs may have a short-term negative impact, but the bullish prediction based on the OBV indicator suggests a positive outlook for Bitcoin's price in the near term.
CONFIDENCE 75
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
ORDI saw a significant 29.90% gain, suggesting bullish investor sentiment and the potential for further short-term appreciation.
The substantial gain for ORDI indicates a positive market reaction that could lead to additional short-term price increases.
CONFIDENCE 70
IMPORTANCE 65
RELEVANCE 60
POSITIVE IMPACT
Quant's QNT experienced a 20.04% rise, aligning with the overall positive trend in the crypto market and suggesting possible short-term growth.
QNT's rise is part of the broader positive trend in the crypto market, which may indicate further short-term growth potential.
CONFIDENCE 70
IMPORTANCE 65
RELEVANCE 60
POSITIVE IMPACT
Solana's SOL surpassed the $100 mark, a significant increase since the Luna-Terra collapse, with a 1027% surge in 2023 alone.
SOL's substantial increase and surpassing the $100 mark indicate strong positive momentum, likely leading to a continued short-term uptrend.
CONFIDENCE 80
IMPORTANCE 90
RELEVANCE 80