Bitcoin, Ethereum, XRP, Dogecoin Trade Sideways On New Year's Eve

Khyathi Dalal

December 31, 2024

Cryptocurrency markets are trading relatively flat on New Year’s Eve, with Bitcoin exchange netflows significantly lower.

Cryptocurrency	Price	Gains +/-
Bitcoin (CRYPTO: BTC)	$93,826	-0.5%
Ethereum (CRYPTO: ETH)	$3,354	-1.0%
Solana (CRYPTO: SOL)	$195.05	+0.8%
XRP (CRYPTO: XRP)	$2.09	+0.4%
Dogecoin (CRYPTO: DOGE)	$0.3184	+0.2%
Shiba Inu (CRYPTO: SHIB)	$0.00002124	-1.1%

Notable Statistics:

IntoTheBlock data shows large transaction volume increasing by 48.2% and daily active addresses falling by 0.07%. Transactions greater than $100,000 are up from 7,678 to 10,479 in a single day. Exchanges netflows are down by 3,927.1%.
Coinglass data reports 85,767 traders were liquidated for $236.02 million.

Notable Developments:

Bitcoin Surges Above $95,500 In 2024 Closing Day: What’s Next?
New Year, New Strategy: Buy Crypto Like You Buy Fine Wine In 2025 — Experts Share Resolutions
Coinbase CEO Brian Armstrong Says A Stablecoin Integration On X Would Be ‘A Great Feature’
Can Bitcoin as Legal Tender Reshape a Nation’s Economy? Lessons from El Salvador
Elon Musk Changes His Name To ‘Kekius Maximus’ On X, Sending This Memecoin Skyrocketing Over 600%

Top Gainers:

Cryptocurrency	Price	Gains +/-
Virtuals Protocol (CRYPTO: VIRTUAL)	$4.00	+16.6%
Pepe (CRYPTO: PEPE)	$0.00002043	+11.0%
Mantra (CRYPTO: OM)	$3.83	+8.0%

Trader Notes: With Bitcoin prices relatively flat, CoinDesk analyst James Van Straten stated that this scenario is just as in the prior three cycles when Bitcoin saw corrections at this point after the halving.

This cycle as with the previous three cycles for $BTC all saw corrections at this point after the halving.

Note how the corrections are starting later and finishing later. Maybe, to do with elongated cycles.

All is well. pic.twitter.com/SwNQ1rH4ur
— James Van Straten (@btcjvs) December 31, 2024

Crypto trader Jelle predicts Bitcoin preparing for a larger move ahead.

#Bitcoin has printed the 'fuck all of you' pattern!

This pattern reduces leverage in the system, preparing for a larger move ahead.

🧘🏼‍♂️ pic.twitter.com/Qph5ZJbxEE
— Jelle (@CryptoJelleNL) December 31, 2024

More Crypto Online noted that Bitcoin’s price has moved upward as anticipated, with further short-term upside likely. However, the overall corrective pattern to the downside appears incomplete. The current movement aligns with the “yellow scenario,” and a break above $97,450 would further confirm this trajectory.

Read Next:

Bitcoin Reserves, Spot ETFs, AI Agents: Key Trends To Watch In Crypto In 2025v

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