Moreover, BlackRock’s iShares Ethereum Trust recorded a single-day inflow of $292 million, highlighting growing investor interest. Ethereum ETF reported $1.66 billion in inflows for December, accounting for 74% of total inflows since inception. Ethereum’s price also supports this momentum, stabilizing around $3,500 and remains bullish.
On the other hand, XRP stabilized at higher levels after a strong price surge in November and December. The Federal Reserve’s rate cuts in December led to a surge in the US dollar, causing a decline in cryptocurrencies. However, XRP’s decline was limited, supported by positive developments that strengthened its outlook for the next potential surge.
Bitcoin (BTC) Technical Analysis
Bitcoin Daily Chart – Ascending Broadening Wedge at Target Zone
The daily chart for Bitcoin shows that the price has reached the target zone of $105,000 and is consolidating around this level. This consolidation has formed an ascending broadening wedge pattern, indicating strong volatility. The price also touched the 50-day SMA at approximately $94,600 before reversing higher. This reversal occurred within the support zone of the ascending broadening wedge. A break above $108,000 could trigger the next upward move, while a break below $90,000 may lead to a deeper correction.
