It seems that the mainstream trend this year is a replay of the trajectory in 2023, with a takeoff in October, a consolidation and upward movement in November and December, and then reaching a peak in the ETF in January. Coincidentally, this year also sees a takeoff in October, and the current stage is also a continuation of an upward consolidation phase. With the inauguration of President Biden in January next year, and Musk joining DOGE, perhaps we can perfectly replicate the 2023 trajectory.
Additionally, there is a positive news for BTC. Microsoft will hold a meeting today on whether to purchase BTC, and if approved, BTC is expected to see another wave of rally, from which altcoins will certainly benefit. Looking at the big picture, major mainstream cryptocurrencies, including popular altcoins, may all reach their peaks in January next year. For short-term traders, wait for the results of the Microsoft meeting, and for those already in the market, sit tight and don't ask where the altcoin bull run is, as we may already be in a bull market.
Turning to the daily BTC market analysis, BTC dropped below $94,000 at 5 am this morning, but no major bearish news was found after a round of checks, perhaps it was just an irrational sell-off by a large holder. The current rebound has approached the $98,000 area, but the altcoins are in a miserable state, with many dropping more than 10-20%. Over the past 24 hours, the entire network has seen $1.716 billion in liquidations, of which $1.547 billion were long positions. From the K-line perspective, BTC is in an hourly-level rebound uptrend, a 4-hour-level rebound trend, but a 12-hour-level and daily-level downtrend. The intraday resistance is $100,000, and the support is $95,500.
4 cryptocurrencies that are likely to surge 100x in the bull market after a correction!
XRP
Ripple is another cryptocurrency worth buying, as it has strong fundamentals and technicals. Fundamentally, the likelihood of the SEC ending the lawsuit and even approving a spot XRP ETF is increasing. Additionally, Ripple is preparing to launch RLUSD, which may even go public by 2025.
Technically, the XRP price has momentum, with the price still well above all its moving averages. The Average Directional Index (ADX) has risen to 31, indicating it has momentum. This trend may propel it to its historical high of $3.30, and then further upwards, as we wrote earlier today.
BONK
Bonk, the founder of the Solana meme coin, is another top cryptocurrency worth buying and holding in 2025. While many meme coins come and go, it has been in the industry for two years and recently hit a new all-time high.
Bonk's price formed a golden cross in November, propelling it to a new all-time high of $0.000006. It has formed a cup and handle pattern and is now in the handle portion. Additionally, the token's trading volume has been increasing, a sign of investor demand.
Therefore, a breakout above this year's high of $0.000060 will bring more gains, potentially reaching $0.000079, a 90% increase from the current level.
SHIB
Shiba Inu's price has retreated from its monthly high of $0.000033 to $0.000030. The positive side is that Shiba Inu's burn rate is increasing, with millions of coins disappearing from circulation. Additionally, with the 200-day and 50-day moving averages crossing, the coin has formed a golden cross pattern.
The token has also formed a cup and handle pattern, with the top of the handle at $0.00004552, the highest level so far this year. This pattern suggests that SHIB's price has more upside potential in 2025, potentially reaching its all-time high of $0.000088.
LINK
Chainlink is one of the cryptocurrencies worth buying and holding in 2025. On the weekly chart, it has broken above the key resistance level of $22.85, which was the March 11th high. It has also retested the 50% Fibonacci retracement level and is supported by the 50-week moving average.
Therefore, the most likely scenario is for Chainlink's price to rise 115% and retest the all-time high of $52.95. If the price rises above this level, it will confirm further upside.
Cryptocurrency analysts also have a bullish outlook on this token. As we wrote last week, some analysts expect LINK's price to rise 500% in the long term due to whale buying.
