Crypto Price Today: Bitcoin Stabilizes at $98K, Bitget Token Surges 22%

The cryptocurrency market exhibited a mix of stability and volatility on December 26, 2024, as top coins like Bitcoin and Ethereum grappled with low holiday liquidity, while select tokens such as Bitget Token (BGB) delivered significant gains.
Bitcoin Price Analysis

Current Price: $98,316.92 (+0.04% in 24h, -2.98% in 7d)

Bitcoin remains relatively stable at $98,316.92, despite enduring short-term bearish pressures, including significant outflows of $338 million from U.S. Bitcoin ETFs on December 24.

Key Market Insights:

• Funding Rates: Positive funding rates (>0.01%) on major exchanges like Binance indicate steady buyer interest.
• Market Structure: Institutional demand and adoption continue to bolster long-term prospects.
• Prediction: Analysts project Bitcoin to trade between $94,000 and $105,000 for the rest of December, with potential to hit $160,000 by 2025, driven by macroeconomic recovery and adoption.

Ethereum Price Analysis

Current Price: $3,438.61 (-1.58% in 24h, -6.22% in 7d)

Ethereum faces bearish sentiment amidst broader altcoin market challenges, coupled with reduced trading activity over the holiday period.

Key Levels to Watch:

• Support: $3,300
• Resistance: $3,500

Despite short-term losses, Ethereum remains pivotal in the DeFi and NFT ecosystems, with Ethereum 2.0 upgrades driving scalability and energy efficiency.

Major Altcoin Movements

Polkadot (DOT): $7.27 (-2.73% in 24h, -4.64% in 7d)

• Struggling with low volumes; support at $7.00, resistance at $7.50.

Solana (SOL): $195.36 (-1.93% in 24h, -6.28% in 7d)

• Ecosystem expansion and developer interest maintain long-term optimism despite selling pressure.

Ripple (XRP): $2.25 (-2.28% in 24h, -4.02% in 7d)

• Legal uncertainties weigh on sentiment, but banking partnerships offer future growth potential.

Shiba Inu (SHIB): $0.0000223 (-4.33% in 24h, -7.85% in 7d)

• Volatility persists; upcoming utility developments will be critical.

Biggest Gainers in the Market

1. 1. Bitget Token (BGB): $6.32 (+22.30%)
      • Gains fueled by growing adoption of the Bitget exchange.
   2. Pudgy Penguins (PENGU): $0.04179 (+17.68%)
      • Boosted by NFT collection popularity.
   3. Movement (MOVE): $1.16 (+14.30%)
      • Strong DeFi integrations drive demand.
   4. FTX Token (FTT): $3.55 (+11.77%)
      • Renewed investor interest following recovery efforts.
   5. OKB (OKB): $52.58 (+10.59%)
      • Enhanced trading activity on OKEx exchange boosts its native token.

Biggest Losers in the Market

1. 1. 1. 1. Hyperliquid (HYPE): $25.94 (-13.50%)
            • Low liquidity impacts performance.
         2. Ondo (ONDO): $1.52 (-9.68%)
            • DeFi market slowdown leads to declines.
         3. Brett (BRETT): $0.1303 (-9.36%)
            • Lack of updates increases selling pressure.
         4. The Sandbox (SAND): $0.5718 (-8.64%)
            • Weak demand in the metaverse segment.
         5. Flow (FLOW): $0.7339 (-7.34%)
            • NFT sales decline affects token performance.

Broader Market Trends

1. Institutional Adoption:
   • Increased interest from corporations and hedge funds boosts credibility.
2. DeFi Expansion:
   • Platforms like Polkadot and Solana lead innovation in interoperability and scalability.
3. NFT Evolution:

Broader applications in gaming, virtual real estate, and music sustain demand for Ethereum and Flow.

2025 Outlook

Bitcoin:

• Projected to reach $160,000 by 2025 due to favorable macroeconomic conditions, institutional interest, and technological advancements like the Lightning Network.

Ethereum:

• Retains dominance in DeFi and NFTs, with Ethereum 2.0 fueling adoption.

Emerging Altcoins:

Investors should monitor projects with innovative applications, such as AI integration and real-world asset tokenization.

Final Thoughts

As of December 26, 2024, the crypto market is characterized by mixed performance due to low holiday liquidity. While Bitcoin and Ethereum face short-term challenges, their long-term potential remains strong, supported by robust fundamentals and expanding use cases.