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  • Crypto Alpha - 15 December 2024

Crypto Alpha - 15 December 2024

Daily Alpha on All Things Crypto, Web3 and Blockchain

TL;DR

  • Bitcoin Dominance: Walking the Tightrope

  • Ethereum: Gunning for $3,000 Like It’s a Payday

  • EU Stablecoin Rules: Keeping It Transparent and Secure

  • Bitcoin: The Bullish Rollercoaster Nearing $106,365

  • Altcoins in Focus: THORChain and Injective Stealing the Spotlight

  • Synthetix (SNX): Eyeing a 90% Leap to Stardom

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Alpha of the Day

Bitcoin Dominance: Walking the Tightrope

Bitcoin dominance is at a crossroads, teetering near a significant resistance level. If the market gives it the cold shoulder and it fails to break through, a 12% drop in dominance could be on the horizon. Picture a king losing a chunk of his territory—still powerful, but definitely less commanding. A rejection here might open the doors for altcoins to snatch some glory, fueling their underdog narratives. The question is: will Bitcoin’s dominance hold the line, or are we in for a Game of Thrones-style power shift? Grab your popcorn; this drama could get intense.

Ethereum: Gunning for $3,000 Like It’s a Payday

Ethereum has burst past the $2,000 resistance mark like a sprinter clearing a hurdle, now eyeing the $3,000 milestone—a 40% boost that has everyone hyped. The RSI is screaming “overbought,” but when has Ethereum ever cared about rules? The market sentiment remains bullish, with traders betting on ETH to flex its muscles further. If this trajectory holds, we might just see Ethereum throwing a party at $3,000, leaving skeptics wondering why they didn’t RSVP.

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EU Stablecoin Rules: Keeping It Transparent and Secure

The EU is bringing out the big guns with its latest stablecoin regulations, emphasizing transparency and reserve management. After the chaos caused by past stablecoin implosions, this move feels like an overprotective parent insisting on curfews. These rules aim to prevent history from repeating itself, ensuring that stablecoins stay, well, stable. While crypto purists might grumble about “overreach,” the EU seems determined to lay down the law, balancing innovation with investor safety.

Bitcoin: The Bullish Rollercoaster Nearing $106,365

Bitcoin is trading at a cool $101,956, with the market buzzing about its potential climb to $106,365. With key resistance levels at $102,796 and $104,376, BTC is like an athlete pacing itself before a record-breaking sprint. Sentiment is dialed up to “Extreme Greed,” which means FOMO is in the air. The question isn’t whether Bitcoin will move—it’s how fast and how high. Hold onto your wallets; this ride could be a thrilling one.

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Altcoins in Focus: THORChain and Injective Stealing the Spotlight

In the altcoin arena, THORChain (RUNE) and Injective (INJ) are having their moment, pulling off impressive gains during the market rally. These lesser-known gems are proving that the little guys can pack a punch, thanks to their innovative DeFi features. From decentralized liquidity to advanced trading solutions, they’re grabbing attention and stealing the limelight from bigger players. It’s like watching indie bands suddenly headline the main stage—exciting, refreshing, and full of promise.

Synthetix (SNX): Eyeing a 90% Leap to Stardom

Synthetix is gearing up for what could be a meteoric 90% price rally, targeting $7.30 after clearing major resistance hurdles. It’s as if SNX decided it’s time to go from the friend zone to center stage. This isn’t just speculation—there’s serious technical momentum backing this potential breakout. If the market plays along, Synthetix might just deliver a jaw-dropping performance, leaving traders cheering and skeptics eating their words.

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