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Bitcoin Rally Driven By U.S. Coinbase Investors – Top Analyst Shares Metrics

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Bitcoin reached a new all-time high yesterday, surging to $94,000 and solidifying the bulls’ control over the market. This milestone has ignited widespread speculation about the key factors fueling the rally, as Bitcoin continues to dominate headlines and capture investor enthusiasm. 

Key insights from CryptoQuant CEO Ki Young Ju shed light on the drivers of this historic surge. According to Ju, this rally has been powered by Coinbase investors, with U.S.-based buyers playing a significant role. The influx of demand from these investors underscores the growing domestic interest in Bitcoin and highlights the critical influence of American market participants on global crypto trends.

Adding to the excitement, market sentiment appears to be heavily influenced by the pro-crypto stance of President-elect Donald Trump. His support for digital assets has sparked optimism across the industry, potentially creating a favorable regulatory environment that could sustain Bitcoin’s growth.

Bitcoin Demand Continues To Drive The Price 

Bitcoin demand remains remarkably strong, even as miners and long-term holders (LTHs) take profits during this rally. Despite selling pressure from these groups, BTC continues to rise, underscoring the robust market appetite for the leading cryptocurrency. This strength suggests buyers readily absorb the distributed supply, fueling Bitcoin’s bullish momentum.

CryptoQuant CEO Ki Young Ju recently shared insightful data on X that highlights the driving forces behind this rally. According to Ju, U.S.-based investors using Coinbase have played a pivotal role in Bitcoin’s surge. He referenced the BTC Hourly Coinbase Premium (Volume-Weighted, USDT/USD Adjusted), which measures the difference in Bitcoin prices on Coinbase compared to other exchanges. 

Bitcoin Hourly Coinbase Premium (Volume-Weighted, USDT/USD Adjusted) | Source: Ki Young Ju on X
Bitcoin Hourly Coinbase Premium (Volume-Weighted, USDT/USD Adjusted) | Source: Ki Young Ju on X

The premium is currently positive and growing, indicating that U.S. investors are willing to pay more for BTC than their international counterparts. This trend demonstrates strong demand from U.S. market participants, likely buoyed by improving market sentiment and potential regulatory optimism.

If this upward momentum in U.S. demand persists, Bitcoin’s rally could extend further in the coming weeks, potentially setting new highs before any major correction occurs. However, as with all parabolic trends, traders and analysts remain cautious, recognizing the possibility of eventual pullbacks. The focus remains on Bitcoin’s strength, as buyers continue to outpace sellers, driving the market higher.

BTC Setting New Highs (Again) 

Bitcoin (BTC) is trading at $93,300, following its recent break above the all-time high (ATH) of $93,483. While this move marked a new milestone for BTC, the price has since entered a sideways range within a defined uptrend, indicating that demand continues to outweigh supply. However, the breakout above the ATH lacked significant momentum, resembling more of a small spring than a decisive rally. This suggests that bulls might be starting to lose steam.

BTC trading at ATH
BTC trading at ATH | Source: BTCUSDT chart on TradingView

Despite this, BTC’s ability to maintain above $89,800 in the coming hours will be critical. Holding this key support level could pave the way for a surge to $95,000, aligning with broader market expectations of continued bullish momentum. Such a move would likely reaffirm confidence among investors, potentially driving further buying interest as Bitcoin eyes the psychological $100,000 level.

On the other hand, a drop below $89,800 would shift the short-term narrative. This scenario could lead to a retrace toward lower demand zones around $85,000, where buyers might regroup to push prices higher again. As BTC consolidates near its ATH, the market awaits a decisive move to determine whether the bulls remain firmly in control or if a temporary correction is on the horizon.

Featured image from Dall-E, chart from TradingView



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Robert Kiyosaki Hints At Economic Depression Ahead, What It Means For BTC?

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Rich Dad Poor Dad author Robert Kiyosaki has issued a stark warning while hinting towards an economic depression ahead. In a recent X post, the renowned author said that the global market crash has already started, as he predicted earlier, which indicates that the financial market might enter a “depression” phase. Notably, this comes as the crypto market records immense volatility, sparking concerns over what’s next for Bitcoin (BTC).

Robert Kiyosaki Hints At Economic Depression Ahead

Robert Kiyosaki, in a recent X post, has revealed a stark warning of a looming economic depression. The Rich Dad Poor Dad author warned that a global market crash has already begun, citing Europe, China, and the U.S. as regions facing significant downturns.

In his post, Kiyosaki urged caution, advising individuals to safeguard their finances and maintain their jobs. “Global crash has started. Europe, China, USA going down. Depression ahead?” he asked while emphasizing the enduring value of assets like gold, silver, and Bitcoin. He added, “For many people, crashes are the best times to get rich.”

This warning aligns with Kiyosaki’s earlier prediction of what he called the “biggest crash in history.” Earlier this month, he encouraged his followers to prepare for financial turmoil, stating, “Please be proactive and get rich… before the BOOMER’s go BUST.”

However, this recent comment from Robert Kiyosaki indicates his sustained confidence in BTC. As the crypto market faces heightened volatility, Bitcoin could emerge as a hedge against traditional market instability, he noted. Besides, it also indicates that the flagship crypto, alongside gold and silver, might continue to gain traction amid this economic turmoil.

What’s Next For BTC?

Bitcoin price today has continued its volatile trading, losing nearly 1.5% over the last 24 hours to $95,323. The crypto touched a high and low of $97,260 and $93,690 in the last 24 hours, showcasing the highly volatile scenario in the market.

In addition, the US Spot Bitcoin ETF also recorded significant outflow, with BlackRock Bitcoin ETF witnessing its largest outflux since its launch. This has weighed on the investors’ sentiment, sparking concerns over a waning institutional interest.

However, despite that, many experts remained confident on the asset’s future trajectory. For context, in a recent X post, Peter Brandt shared a new BTC price target, indicating his confidence in the digital asset.

On the other hand, institutions like Metaplanet have also continued to boost their BTC holdings. These moves indicates that the institutions, as well as many investors, are bullish towards the long-term potential of the crypto. Besides, as Robert Kiyosaki said, the recent dip also provides a buying opportunity to investors, which might further boost Bitcoin to its new ATH ahead.

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Rupam Roy

Rupam is a seasoned professional with three years of experience in the financial market, where he has developed a reputation as a meticulous research analyst and insightful journalist. He thrives on exploring the dynamic nuances of the financial landscape. Currently serving as a sub-editor at Coingape, Rupam’s expertise extends beyond conventional boundaries. His role involves breaking stories, analyzing AI-related developments, providing real-time updates on the crypto market, and presenting insightful economic news.
Rupam’s career is characterized by a deep passion for unraveling the complexities of finance and delivering impactful stories that resonate with a diverse audience.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Bitcoin

Metaplanet makes largest Bitcoin bet, acquires nearly 620 BTC

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Tokyo-listed Metaplanet has purchased another 9.5 billion yen ($60.6 million) worth of Bitcoin, pushing its holdings to 1,761.98 BTC.

Metaplanet, a publicly traded Japanese company, has acquired 619.7 Bitcoin as part of its crypto treasury strategy, paying an average of 15,330,073 yen per (BTC), with a total investment of 9.5 billion yen.

According to the company’s latest financial disclosure, Metaplanet’s total Bitcoin holdings now stand at 1,761.98 BTC, with an average purchase price of 11,846,002 yen (~$75,628) per Bitcoin. The company has spent 20.872 billion yen in total on Bitcoin acquisitions, the document reads.

The latest purchase is the largest so far for the Tokyo-headquartered company and comes just days after Metaplanet issued its 5th Series of Ordinary Bonds via private placement with EVO FUND, raising 5 billion yen (approximately $32 million).

The proceeds from this issuance, as disclosed earlier, were allocated specifically for purchasing Bitcoin. These bonds, set to mature in June 2025, carry no interest and allow for early redemption under specific conditions.

Metaplanet buys dip

The company also shared updates on its BTC Yield, a metric used to measure the growth of Bitcoin holdings relative to fully diluted shares. From Oct. 1 to Dec. 23, Metaplanet’s BTC Yield surged to 309.82%, up from 41.7% in the previous quarter.

Bitcoin itself has seen strong performance this year, climbing 120% and outperforming assets like the Nasdaq 100 and S&P 500 indices. However, it has recently pulled back from its all-time high of $108,427, trading at $97,000 after the Federal Reserve indicated only two interest rate cuts in 2025.

Despite the retreat, on-chain metrics indicate that Bitcoin is still undervalued based on its Market Value to Realized Value (MVRV-Z) score, which stands at 2.84 — below the threshold of 3.7 that historically signals an asset is overvalued.



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Altcoin Season

End of Altcoin Season? Glassnode Co-Founders Warn Alts in Danger of Lagging Behind After Last Week’s Correction

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The creators of the crypto analytics firm Glassnode are warning that altcoins could lose all bullish momentum following last week’s market correction.

Jan Happel and Yann Allemann, who go by the handle Negentropic on the social media platform X, tell their 63,400 followers that “altcoin season,” which they say began in late November, could come to an abrupt end after alts witnessed deep pullbacks over the last seven days.

According to the Glassnode co-founders, traders and investors will likely have a risk-off approach on altcoins unless Bitcoin recovers a key psychological price point.

“Is This the End of Altcoin Season?

Bitcoin dominance is surging after dipping below $100,000, while altcoins are losing critical supports. Dominance has risen and resumed its upward trend, signaling a stronger BTC environment.

If BTC stabilizes above $100,00, we might see a pump in altcoins now in accumulation zones. Until then, Bitcoin appears poised to lead, leaving altcoins lagging behind.”

Image
Source: Negentropic/X

The Bitcoin Dominance (BTC.D) chart tracks how much of the total crypto market cap belongs to BTC. In the current state of the market, a surging BTC.D suggests that altcoins are losing value faster than Bitcoin.

At time of writing, BTC.D is hovering at 59%.

Looking at Bitcoin itself, the Glassnode executives say long-term Bitcoin holders are massively unloading their holdings as other investor cohorts pick up the slack.

“The Board Keeps Shifting. 

As BTC continues flowing out of exchanges during this dip, long-term holders are exiting forcefully, while short-term holders step in without hesitation.

Whales quietly accumulate, miners remain neutral, and selling pressure has merely reshuffled the board.

New hands are absorbing the sales.”

Image
Source: Negentropic/X

At time of writing, Bitcoin is worth $97,246.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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