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- Bitcoin tops $100K, reaches $2T
Bitcoin tops $100K, reaches $2T
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Bitcoin hits $102K, reaches $2 trillion milestone
Key points:
Bitcoin’s price surge to $102,800 has pushed its market capitalization to $2.034 trillion, making it the seventh-largest global asset by value.
Analysts predict Bitcoin could climb another 43% to $146,000 before reaching “bubble” territory, driven by strong ETF inflows and realized cap growth.
News - Bitcoin hit a major milestone on December 5, crossing $100,000 for the first time and reaching $102,800. The move boosted its market capitalization to $2.034 trillion, ranking it as the seventh-largest global asset, ahead of silver and leading global firms such as Meta and Saudi Aramco.
The price surge coincided with Federal Reserve Chair Jerome Powell’s comments comparing Bitcoin to gold at the DealBook Summit, as well as President-elect Donald Trump’s nomination of pro-crypto Paul Atkins for SEC chair. ETF inflows further supported the rally, with US spot Bitcoin ETFs logging $500 million in net inflows for the second consecutive day.
Analysts highlight November’s breakout - Bitcoin’s November performance laid the groundwork for its current rally. Analysts noted that BTC’s breakout above $73,700, accompanied by its largest monthly candle in USD terms, historically leads to sustained multi-month gains. This momentum continues to drive optimism as BTC consolidates above $100,000.
What’s next? - Bitcoin’s realized cap metric suggests it remains far from bubble territory. CryptoQuant founder Ki Young Ju predicts BTC could surge another 43% to $146,000, driven by strong market fundamentals and institutional interest. Analysts expect continued bullish momentum as Bitcoin targets new all-time highs.
Ethereum eyes $4,000 as whale accumulation reaches 3-month high
Key points:
ETH’s price has been 19% below its all-time high and approaching $4,000, driven by 7-day MVRV at 6.1% and increased whale accumulation.
Analysts predict ETH could surge to $4,800 if it breaks $4,000, supported by institutional inflows, DeFi growth, and staking-enabled ETF interest.
News - Ethereum (ETH) has been rallying toward $4,000 for the first time since March 2024, fueled by rising market optimism and increased activity from whale investors. Key metrics like the 7-day MVRV (Market Value to Realized Value) and whale wallet growth point to strong upward momentum, with ETH trading 19% below its all-time high of $4,867 at press time.
MVRV metric signals further gains - Ethereum’s 7-day MVRV has climbed to 6.1%, a significant rise from 0.28% only two days ago. This metric indicates unrealized profits among short-term holders, often preceding either further price gains or corrections. Historically, ETH has seen MVRV levels extend to 7%–13% before any significant pullbacks, suggesting potential for continued growth if market sentiment remains bullish.
Whales back in the market - The number of wallets holding 1,000+ ETH has risen to 5,599, the highest in three months, after hitting a low of 5,524 in late October. This renewed whale activity signals increased confidence among major investors, potentially setting the stage for sustained price appreciation.
Whale accumulation often aligns with bullish trends, as these large holders can influence market momentum through significant buying activity.
What’s next? - If Ethereum breaks $4,000, analysts believe it could surge to test its all-time high of $4,800, driven by strong institutional inflows, heightened interest in staking-enabled ETFs, and growth in layer-2 transaction volumes.
However, failure to sustain this rally may lead to price retracements, testing support levels around $3,688, $3,500, and $3,255.
Dogecoin jumps 9% to weekly high as Bitcoin surpasses $100K
Key points:
DOGE surged by 9% to a weekly high of $0.46, outperforming Bitcoin’s 7% rise after BTC crossed the $100,000 milestone.
It gained 163% over the past 30 days, bolstered by broader market optimism following Donald Trump’s election win.
News - Dogecoin (DOGE), the original meme coin, spiked to a weekly high of $0.46 after Bitcoin’s historic climb above $100,000. Despite a slight dip, DOGE remains the top gainer among the 10 largest cryptocurrencies by market cap, according to CoinGecko data.
As of Thursday morning, Dogecoin traded at $0.4518, reflecting a 9% daily increase compared to Bitcoin’s 7% gain and Ethereum’s 5% rise. Other meme coins like Shiba Inu (SHIB) and Pepe (PEPE) also posted gains of 6% and 7.5%, respectively.
DOGE’s impressive 30-day performance - While Dogecoin’s momentum has moderated in recent weeks, the meme coin is still up by 163% over the last 30 days, fueled by optimism surrounding Donald Trump’s election victory and bullish crypto market conditions.
Bitcoin’s record-breaking run to $103,679 also contributed to DOGE’s rise, as investors sought to capitalize on gains across the broader cryptocurrency market.
What’s next? - Dogecoin’s price surge underscores its continued relevance as the leading meme coin. However, sustaining its bullish momentum will depend on broader market trends and Bitcoin’s ability to maintain levels above $100,000. Analysts will be watching DOGE’s performance closely as meme coin enthusiasm continues to grow.
Mt. Gox transfers $2.43B in Bitcoin after BTC hits $100K
Key points:
Defunct exchange Mt. Gox moved 24,052 BTC worth $2.43 billion to a new wallet following Bitcoin’s surge past $100,000.
Analysts are divided on whether the transfer signals creditor repayments or internal reallocation by Mt. Gox.
News - Mt. Gox, the now-defunct cryptocurrency exchange, executed a significant Bitcoin transaction after the cryptocurrency crossed the $100,000 mark. The exchange transferred 24,052 BTC—valued at approximately $2.43 billion—to a new, unmarked wallet, according to on-chain analytics platform Spotonchain.
This marked the first substantial transfer by Mt. Gox since November 12. In addition to the larger transfer, another 3,819 BTC was moved to an internal cold wallet. The moves have sparked speculation, with questions arising about whether they are related to the ongoing repayment process for Mt. Gox creditors or simply an internal reallocation.
Market reactions and speculation - Such large-scale transactions often unsettle markets, particularly given Mt. Gox’s history and its delayed creditor repayment plans, now extended to October 31, 2025. Analysts suggest the movement of funds to an unmarked wallet could be purely internal, but concerns linger about the potential impact on Bitcoin’s liquidity should these holdings hit the open market.
Spotonchain revealed that Mt. Gox still holds 15,826 BTC, valued at $1.63 billion, across 31 known wallets. While no immediate sell-off has occurred, traders are closely monitoring these movements for further clues.
Bitcoin’s surge past $100K - Bitcoin’s rise to $103,403, representing a 7.6% daily gain, comes amid bullish market catalysts, including Federal Reserve Chair Jerome Powell’s comments likening BTC to gold and the pro-crypto leadership transition at the SEC under Paul Atkins. Additionally, Russian President Vladimir Putin’s endorsement of Bitcoin as part of ongoing crypto reforms has further fueled positive sentiment.
Some analysts, like Bitcoin veteran Kyle Chasse, predict Bitcoin’s $100,000 milestone could trigger FOMO-driven retail buying, potentially pushing the price even higher.
What’s next? - The market remains cautious about the implications of Mt. Gox’s latest moves. With over $1.63 billion in BTC still in its wallets, any future transfers could impact Bitcoin’s price and market stability. Meanwhile, Bitcoin’s ability to maintain levels above $100,000 will likely shape the crypto market’s trajectory in the coming weeks.
More stories from the crypto ecosystem
Interesting facts
In 2017, the Bitcoin network processed its largest-ever transaction, involving 141,500 BTC, worth around $1 billion at the time. Despite the enormous value, the transaction was completed with a relatively low fee.
CryptoPunks, created in 2017, were among the first NFT collections sold on the Ethereum blockchain, with CryptoPunk #1 being one of the early sales that gained significant attention.
The concept of "stablecoins" was introduced in 2014 with the launch of Tether (USDT), pegged to the US dollar. Today, stablecoins are crucial for facilitating trading and transactions within the crypto space due to their price stability.
Top 3 coins of the day
Ethereum (ETH)
Key points:
At press time, ETH was trading at $3,927.
Increasing by approximately 2.16% over the last 24 hours, it was one of the top trending cryptocurrencies, according to CoinMarketCap.
What you should know:
ETH's daily chart reflected a strong bullish trend, supported by its position above the 9-day SMA, which was acting as dynamic support. The Awesome Oscillator indicated consistent bullish momentum, with green bars increasing in size over the past few sessions. This suggested that buying pressure remained strong. Additionally, trading volume remained elevated, indicating sustained investor interest. Immediate resistance is anticipated at $4,000, a psychological level that may witness increased selling pressure. On the downside, the nearest support is around $3,700, aligned with recent consolidation zones. Traders should monitor these levels closely for potential breakout or pullback scenarios. While the trend is upward, overbought conditions could lead to a short-term correction.
Jasmy Coin (JASMY)
Key points:
At press time, JASMY was trading at $0.04713.
Increasing by approximately 18.27% over the last 24 hours, it was the biggest gainer, as per CoinMarketCap.
What you should know:
The daily chart indicated a strong bullish momentum for JASMY, with the Parabolic SAR dots positioned below the price, confirming an upward trend. Additionally, the Chaikin Money Flow (CMF) was positive at 0.22, indicating healthy capital inflows and strong buying pressure. Moreover, trading volume significantly surged, reflecting increased market participation and interest in the asset. Immediate resistance is likely around the $0.05185 level, which aligns with the intraday high. A breakout above this level could extend the bullish momentum. On the downside, support is observed near $0.03904, coinciding with the intraday low. A drop below this support level may indicate a potential pullback. Traders should monitor these levels closely and consider the positive market sentiment reflected in the CMF and volume metrics. However, caution is advised, as the strong price movement may also attract profit-booking in the short term.
XRP (XRP)
Key points:
At press time, XRP was trading at $2.37.
Declining by approximately 13.91% over the last 24 hours, it was one of the biggest losers, while still ranking as the top trending cryptocurrency, as per CoinMarketCap.
What you should know:
On the daily timeframe, XRP was highlighted by a strong downtrend in the short term, following its significant rally in previous sessions. The SMA (9) acted as dynamic support, positioned near $2.11. Despite the drop, the RSI remained in the overbought zone at 76.19, signaling potential exhaustion of the bullish trend. Trading volumes surged significantly during the price drop, reflecting increased selling pressure. Key support is located near $2.11, aligning with the SMA (9), while immediate resistance is around $2.49, the intraday high. Traders should monitor these levels closely as a break below the SMA could signal further downside, whereas a bounce above resistance may indicate recovery.
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