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Bitcoin Holds $100K Amid Bearish Weekly Signals

Bitcoin reclaimed the $100K mark after a brief dip but faces potential bearish weekly chart patterns. Analysts weigh in on whether this correction is routine or signals further downside.

• Main Points:

  • Price Volatility: BTC dipped below $100K for the first time since Dec. 13, hitting $99,047.

  • Bearish Signal: Analyst Rekt Capital highlights a potential bearish engulfing candlestick on the weekly chart.

  • Macro Impact: Dip follows hawkish Federal Reserve comments, signaling fewer rate cuts in 2025.

  • Mixed Reactions: Some view the correction as routine during price discovery; others urge caution.

• Detailed Insights:

  • Bearish Pattern Speculation: Rekt Capital notes that confirmation of a bearish weekly candlestick is pending, as "lots can change" before the week's end.

  • Market Sentiment: Analysts like Bitcoin Archive called the pullback "normal," referencing similar dips since October.

  • Federal Reserve Influence: The Fed’s 25-basis-point rate cut announcement and cautious 2025 outlook added pressure on the market.

  • Price Discovery Volatility: Historically, Bitcoin corrections occur in Weeks 7 and 8 of price discovery, a phase BTC is currently navigating.

  • Long-Term Outlook: Recent Bitcoin strength stems from ETF demand, the halving event, and positive macroeconomic factors, but analysts advise patience during corrections.

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Federal Reserve Rejects Bitcoin as Reserve Asset

Fed Chair Jerome Powell reaffirmed that the Federal Reserve is legally barred from holding Bitcoin and has no plans to seek legislative changes. This decision comes amid President Trump’s controversial proposal for a national Bitcoin reserve.

• Main Points:

  • Legal Limitations: The Fed cannot manage Bitcoin reserves and opposes changes to enable this.

  • Bitcoin Price Dip: BTC dropped to $101,562 following the Fed's 25 basis point rate cut.

  • Trump's Proposal: A strategic Bitcoin reserve sparks debate on the dollar's global role.

  • Regulatory Divide: Analysts predict tension between federal agencies and the administration.

• Detailed Insights:

  • Powell’s Stance: Powell dismissed integrating Bitcoin into monetary policy, citing its speculative nature and unsuitability as a reserve asset.

  • Trump’s Initiative: Supported by Senator Cynthia Lumis, the Bitcoin reserve proposal aims to diversify US assets but faces criticism for potentially undermining the dollar’s stability.

  • Market Sensitivity: Bitcoin’s price volatility highlights its reliance on regulatory developments and broader economic sentiment.

  • Global Competition: As nations like China expand digital currency adoption, the US must address its strategy to remain competitive.

Fartcoin Surpasses $1B Market Cap Amid Altcoin Decline

Solana-based memecoin Fartcoin briefly exceeded a $1 billion market cap, defying the broader altcoin market's downturn. Its 113% rise over 30 days highlights crypto's unpredictable nature.

• Main Points:

  • Brief Milestone: Fartcoin hit $1 billion market cap on Dec. 18, then retraced by 16%.

  • Altcoin Bloodbath: Major altcoins like Dogwifhat and Bonk faced double-digit losses.

  • Lighthearted Reactions: Investors joked about Fartcoin as a "safe haven" amid market chaos.

  • Volatile Journey: Launched two months ago, Fartcoin has fluctuated sharply in value.

• Detailed Insights:

  • Price Surge and Retrace: Fartcoin’s price spiked 21% to $1.02 before falling to $0.83, with a market cap of $838.4M.

  • Market Context: The rise occurred as the crypto market reacted to the Fed’s rate cut announcement.

  • Investor Sentiment: Some view its rise as emblematic of speculative trends, while others see humor in its unexpected success.

  • Volatility Patterns: Fartcoin has previously reached highs like $423M before major retraces.

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This article is not financial advice. Market conditions can change rapidly, and past performance does not guarantee future results