What Happened in Crypto Today: To Bull or Not To Bull?

As Bitcoin surpasses the $90K mark and counts another all-time high under its belt, opinions are divided on where it’ll go next.

Bullish enthusiasm sets predictions ever higher for Bitcoin’s future, but when things start to look too optimistic, that’s when it’s most important to keep your eyes peeled.

What’s in analysts' line of sight? Some believe Bitcoin could smash the $100K wall within a month, others think it might dip into the $70K range before getting there. As you can guess, there are also vastly different predictions for Bitcoin’s near-term future versus long-term.

Whales offer some insight, as do profit-taking long-term holders, as does the anticipated impact of some regulatory relief amid the new U.S. administration.

It’s safe to say the market has now crossed into uncharted territory, and while optimism is high, analysts are remaining vigilant and warn of a potential cooling phase.

Still, the meme coin sector has never been hotter, as several coins are setting new all-time highs, merrily riding the coattails of Dogecoin.

So what’s going on? Let’s make sense of it all! Here is a quick rundown of the top headlines from the past 24 hours:

• CryptoQuant’s CEO Ki Young Ju lowers his Bitcoin price ceiling to $135K. But why is he looking forward to a dip?
• Analysts warn Bitcoin could see a potential correction to $70K amidst a cooling phase—but what does whale activity signal?
• Meme coins surge as Bonk, Mog, and Brett set new all-time highs. But why are they suddenly going up and what triggered this run?
• Bitcoin surpasses the $90K mark, fueling profit-taking among long-term holders. So is this a sign to cash out? Or should we wait?
• Cathie Wood believes Bitcoin could be anywhere between $650,000 and $1.5 million by 2030. How accurate her predictions have been so far?

Let’s dive in!

Bitcoin's Next Stop?

CryptoQuant's CEO Ki Young Ju just shared his insights about Bitcoin's future - and it's not what most traders were hoping to hear.

Despite Bitcoin cruising past $90,000, Ju says we might be looking at a ceiling around $135,000. That's quite different from the $500,000 predictions floating around crypto Twitter.

Here's what makes this interesting: ETF money is flooding in like never before, but the futures market is getting dangerously crowded. We're talking 2.7 times more leveraged than early 2024.

But there's a catch - Ju thinks Bitcoin might need to revisit $58,974 first. Not because something's wrong, but because every healthy bull market needs a breather.

But why does he believe in such a short bull run this time? Read the full story!

A Pause Is Imminent?

Bitcoin's impressive run to $90,000 might be catching its breath - and some big players are already positioning themselves for what's next.

CryptoQuant just released an interesting analysis. The gap between Bitcoin's weekly and monthly price averages has stretched to 19% - the kind of territory that usually signals a cooling-off period.

Their analysts are mapping out two paths: either Bitcoin plays it safe between $87,000-$93,000 before shooting for $120,000, or it takes a quick trip down to $70,000 first.

What indicators do they have to support their claims? Read the full story!

The Great Meme Coin Run

The meme coin scene is absolutely exploding right now, and it's not just the usual suspects making waves.

Bonk just leaped 120% after announcing a massive token burn - we're talking about one trillion tokens going up in smoke. The Solana-based token hit $0.000049, and that wasn't even its final form.

Meanwhile, Mog Coin broke its all-time high for the second time in three weeks, and Brett decided to join in by pushing past $0.19.

But why are they suddenly going up and what triggered this run? Read the full story!

Crypto OGs Are Taking Profits

Bitcoin just made history by touching $93,215, but something interesting is happening behind the scenes.

The crypto OGs - those who've held Bitcoin for over 155 days - are starting to cash in. After watching Bitcoin trade sideways between $53,000 and $72,000 for seven months, many are seeing $90,000 as their golden ticket.

But here's the twist - despite all this selling, Bitcoin keeps climbing.

Why?

U.S. Bitcoin ETFs have been gobbling up everything in sight, with over $4 billion in fresh capital since November 5.

So is this a sign to cash out? Or should we wait? Read the full story!

This Is Just the Beginning, Says Cathie Wood

Remember when Bitcoin was $250? Cathie Wood does - that's when ARK Invest first jumped in. Now, with Bitcoin cruising past $90,000, she's back with another bold prediction.

During her latest CNBC appearance, Wood made it clear: Bitcoin's current price is just a pitstop. Her reasoning? A perfect storm of regulatory relief under the new administration and growing institutional interest in Bitcoin as a unique asset class.

The numbers are starting to back her up. After April's halving, Bitcoin's supply growth dropped to 0.9% - even lower than gold's. That's catching the attention of traditional investors who previously dismissed it.

ARK's latest "Big Ideas" report puts Bitcoin anywhere between $650,000 and $1.5 million by 2030.

But so far, have her predictions been accurate or not? Read the full story!