Bitcoin exceeds 107K! 🚀
Welcome to the Daily Tribune of Tuesday, December 17, 2024 ☕️
Hello Cointribe! 🚀
Today is Tuesday, December 17, 2024, and as every day from Tuesday to Saturday, we summarize the news from the last 24 hours that you shouldn't miss!
But first…
✍️ Cartoon of the day:
24h crypto recap! ⏱
🚀 Bitcoin shatters records against gold
The Bitcoin/gold ratio reached a historic peak of 40 ounces of gold per BTC and marks a turning point in the history of cryptocurrencies. With a Bitcoin price exceeding 106,000 dollars, against 2,650 dollars for the ounce of gold, the queen of cryptos confirms its status as new digital gold.
Peter Brandt, a recognized analyst, even predicts a future ratio of 89 ounces of gold per BTC. This spectacular rise is explained by a growing institutional adoption, a strengthened trust of investors, especially since the statements of Jerome Powell comparing Bitcoin to a digital version of gold, and increased scarcity due to the growing difficulty of mining. Investors, faced with inflation and volatility in traditional markets, are increasingly turning to Bitcoin as a modern safe haven, capable of seriously competing with gold.
💰 MicroStrategy surpasses 439,000 BTC
MicroStrategy continues its aggressive Bitcoin accumulation strategy with an impressive new purchase of 15,350 BTC between December 9 and 15, 2024, for a total of 1.5 billion dollars, at an average price of 100,386 dollars per BTC. This acquisition brings its total reserves to 439,000 bitcoins, purchased for a total cost of 27.1 billion dollars, averaging 61,725 dollars per BTC.
Michael Saylor, the company’s founder, asserts his long-term vision and reminds that MicroStrategy now holds 2% of the total BTC supply in circulation. The company's stock, significantly up, shows a rise of 490% since the beginning of the year, and its recent inclusion in the Nasdaq-100 validates its success. Saylor reiterates his absolute confidence in Bitcoin, not hesitating to consider future purchases, even if its price exceeds 1 million dollars.
📊 Massive Ethereum withdrawal: An imminent rally?
On December 14, 2024, a colossal withdrawal of 418 million dollars, representing 108,521 ETH, was recorded from exchanges, marking a strong signal for investors. This movement, the largest since March, reflects a strategy change where Ethereum holders now prefer long-term storage in private wallets. This reduction in supply on exchanges lowers the selling pressure, creating a favorable context for a price increase.
Currently valued at around 3,964 dollars, ETH is approaching a key resistance zone at 4,069 dollars. Breaking this threshold could lead to a return to its historic peak of 4,936 dollars, achieved in 2021. However, analysts urge caution and warn of a risk of correction towards 3,388 dollars if massive profit-taking were to occur.
📈 Bitcoin reaches a historic ATH at 107,600 $ thanks to MicroStrategy
Bitcoin has reached a new all-time high (ATH) of 107,600 dollars, driven by the integration of MicroStrategy into the Nasdaq 100, an event seen as a major institutional validation of the aggressive BTC accumulation strategy. Since 2020, MicroStrategy has positioned Bitcoin as a store of value superior to gold, prompting other players, including countries like the UK and Russia, to consider similar integration. This institutional enthusiasm has propelled prices, although volatility remains a risk factor for investors.
Currently, BTC is trading around 106,616 dollars, with optimistic forecasts ranging between 120,000 and 150,000 dollars by the end of 2024 and up to 200,000 dollars in 2025. This milestone marks an important juncture for Bitcoin and confirms the growing confidence in its potential as a strategic asset.
The crypto of the day: AIOZ Network (AIOZ)
AIOZ Network is an innovative blockchain designed for decentralized content delivery (Decentralized Content Delivery Network - dCDN). This technology offers a solution to traditional systems by allowing for fast, cost-effective, and scalable distribution of multimedia content through user nodes. Its added value lies in a significant reduction in infrastructure costs and an improved user experience, while ensuring better decentralization.
The native crypto, AIOZ, is primarily used to reward network participants, such as nodes providing storage or bandwidth. It has been distributed through private sales and incentive programs. AIOZ holders enjoy benefits such as staking rewards, reduced fees, and participation in the functioning of the ecosystem. The crypto can be used for conducting transactions, funding content, and participating in the network.
📊 Recent performance
Current price: 1.15 €
Variation: +7.39% (increase over 1 day)
Market capitalization: 1.31 billion €
Rank on CoinMarketCap: 91
Technical analysis: Bitcoin (BTC)
Bitcoin recently surpassed its previous peak, reaching a new ATH at 107,800 dollars after a consolidation period marked by an inverted head and shoulders pattern. This movement has been supported by a strong rebound from the support zone of 91,000 $ and favorable technical momentum, confirmed by rising moving averages on 50 and 200 days. Currently, BTC is oscillating around 106,000 $, with indicators such as the RSI and open interest in BTC/USDT signaling robust demand and a healthy balance between buyers and sellers. The next key resistance zones are located around 108,500 $ and potentially 110,000 $.
If Bitcoin fails to maintain above 99,300 $, a correction towards levels of 94,300 $ or 91,000 $ could occur. Conversely, a sustainable breakthrough of the current resistance could open the way for new peaks. The liquidation heatmap shows a relatively stable market, with critical levels between 98,000 $ and 102,300 $. Although the market remains bullish, caution is advised in the face of possible volatility, while closely monitoring key levels that will influence the future trajectory of BTC.
