As 2024 draws to a close, flagship crypto Bitcoin appears to have put its flamboyance away for the holiday season. With the price hovering around $93,000, investors are taking a break. Still, some are hoping for a dramatic awakening for the crypto market as Donald Trump's inauguration approaches in January. A look back at an eventful week and the weak but crucial signals.
Bitcoin: from highs to end-of-year turbulence
In 2024, the price of bitcoin caused a sensation by reaching an all-time high of $108,000boosted by the “Trump Bump”. But since then, the euphoria has faded: the flagship crypto is now sailing between 92,500 and 99,000 dollars, weighed down by activity at half mast linked to holidays and therefore transactions in free fall.
According to Edul Patel, CEO of Mudrex, “ Bitcoin Remains Stuck in a Tight Range on Falling Institutional Volumes “.
Even though volatility is old news for bitcoin, analysts note a unique dynamic This year :
- $108,000 : peak reached in October 2024;
- $92,564 : low point of December 24;
- 56.49% : dominance of Bitcoin on the crypto market.
Next to it, giants like MicroStrategy continues to accumulate BTC (1)having recently added 5,200 units to their hoard. This bold gesture raises questions about the intentions of the institutions: strategic accumulation or risky bet in the face of a possible rise in power of Trump?
Crypto market: between expectations and concerns
The crypto market was not spared this week, with overall capitalization down slightly to $3.27 trillion. Ethereum, the runner-up, followed the descent with a range between $3,275 and $3,535.
Meanwhile, stablecoins and DeFi maintain relatively stable activity, accounting for 91.52% and 8.15% of traded volumes, respectively. However, the general climate remains marked by cautious neutrality, illustrated by the fear and greed index frozen at 50.
Another worrying signal: hackers are doubling their creativity (2) to empty investors' wallets. Taylor Monahan has warned of sophisticated scams where fake recruiters trick their targets into installing malware.
This climate of distrust weighs on the market, while some hope for a renewed interest as theinauguration of Donald Trump (3)seen as a potential catalyst for bitcoin.
And finally, Arthur Hayes does not see Trump's inauguration in a favorable light: he even anticipates a massive collapse of cryptos. If his pessimism contrasts with the ambient wait-and-see attitude, it reminds us that surprises, good or bad, are never lacking in the world of cryptos.
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