🔥 Is There A Better Trade Than Bitcoin

Summary

In this deep dive, 10x Research explores the current state of the crypto market, highlighting Bitcoin's potential rise to $100,000 and the strong altcoin rallies, particularly in Korea. They analyze Ethereum’s positive outlook following a key US court ruling on Tornado Cash and discuss the growing momentum in DeFi. Despite Bitcoin's recent price correction, the long-term outlook remains optimistic. The video delves into macroeconomic factors influencing the market, while providing insights into the evolving regulatory landscape that could favor Ethereum and fuel further growth in the crypto space.

Takeaways

• 😀 Bitcoin is nearing $100,000, leading many to question if it's at the top of its cycle. 10x Research suggests that we may not be at the peak yet, based on the 111-day moving average momentum.
• 😀 10x Research points to a $16 billion FTX creditor payout in Q1 2025 as a potential catalyst that could drive Bitcoin prices higher.
• 😀 Altcoin trading volume has surged, especially on the Korean exchange Upbit, with weekend trading volume up by 48%. This trend is not limited to popular coins but includes a revival of forgotten altcoins.
• 😀 The resurgence in altcoins suggests a shift in market sentiment, with sustained high volumes signaling a potential long-term trend rather than short-term speculation.
• 😀 Metaverse tokens like The Sandbox and Decentraland have seen increased trading volumes, signaling renewed interest in these sectors of the crypto market.
• 😀 Ethereum's regulatory outlook has improved with an appeals court ruling that deemed sanctions on Tornado Cash unlawful, a major victory for the DeFi ecosystem.
• 😀 The ruling on Tornado Cash allows developers to release smart contracts without fear of sanction as long as they do not charge fees, which could lead to more innovation in DeFi on Ethereum's network.
• 😀 Ethereum’s price volatility spiked after November 14th, signaling that traders are anticipating a potential rally. The involvement of whales in accumulating Ether is pushing the price upward.
• 😀 Ethereum’s shift from options trading to futures trading is notable, with open interest in Ethereum Futures surpassing previous peaks, indicating growing bullish sentiment around Ethereum.
• 😀 While Bitcoin is experiencing a price correction, its long-term outlook for 2025 remains bullish, with support levels at $89,000 and $75,000, despite macroeconomic factors such as reduced government spending and potential changes in U.S. fiscal policy.
• 😀 10x Research highlights a potential resurgence of DeFi under a Trump administration, with figures like Paul Atkins and significant investments into DeFi protocols indicating a favorable regulatory environment for Ethereum.
• 😀 The broader outlook for 2025 sees Ethereum possibly outperforming Bitcoin, driven by positive regulatory changes and increasing interest in decentralized finance (DeFi).

Q & A

What is the key indicator 10x Research uses to analyze Bitcoin's market cycles?

10x Research uses the P-Cycle top indicator, which tracks the 111-day moving average and twice the 350-day moving average to identify market peaks. They also monitor the momentum of the 111-day moving average after it crosses, suggesting that Bitcoin may not be at the top yet.

What might drive Bitcoin's price higher in 2025 according to 10x Research?

10x Research suggests that the $16 billion FTX creditor payout in Q1 2025 could act as a major catalyst for Bitcoin's price to move higher, potentially impacting market dynamics.

Why is there a surge in altcoin trading volume, especially on the Upbit exchange?

The surge in altcoin trading volume, especially on Upbit, is due to sustained high trading volumes over multiple days, which contrasts with previous one-day pump-and-dump patterns. This suggests a shift in market sentiment, with more interest in altcoins beyond the usual high-profile coins like Dogecoin and Ripple.

What are 'forgotten altcoins,' and why are they becoming relevant again?

Forgotten altcoins refer to tokens that have not been active or popular for a long time but are now seeing a resurgence. 10x Research highlights that these coins are being traded heavily again, marking a speculative shift in the market similar to the burst of activity seen earlier in 2023.

Which types of tokens, besides traditional altcoins, are seeing a resurgence?

Metaverse tokens like The Sandbox and Decentraland are also seeing a resurgence, with The Sandbox, for example, experiencing a 24-hour trading volume of $5.3 billion, 20% of which came from Upbit.

What recent legal victory could positively impact Ethereum and the DeFi ecosystem?

Ethereum and the DeFi ecosystem benefited from a recent U.S. appeals court ruling that deemed the sanctions against Tornado Cash unlawful. This ruling allows developers to release smart contracts without fear of sanctions, as long as they don't charge fees.

What is the significance of Paul Atkins potentially becoming the SEC chair?

Paul Atkins is likely to become the new SEC chair under Trump, and he is known for his balanced approach to crypto regulation. His potential appointment is seen as positive for the crypto industry, fostering innovation while protecting investors, which could benefit Ethereum and the broader DeFi ecosystem.

What signals suggest that Ethereum might outperform Bitcoin in 2025?

Ethereum is gaining momentum due to favorable regulatory news and a surge in whale activity, pushing its price upwards. Additionally, Ethereum futures open interest has surpassed previous peaks, signaling growing bullish sentiment, which suggests that Ethereum might outperform Bitcoin in 2025.

What macroeconomic factors are influencing Bitcoin's recent price correction?

Bitcoin's recent price correction is linked to macroeconomic factors like global money supply trends and potential changes in U.S. fiscal policy under the incoming Trump administration. The market is reacting to the possibility of reduced government spending and a less accommodative Federal Reserve.

What support levels does 10x Research identify for Bitcoin, and what do they suggest about the market?

10x Research identifies two key support levels for Bitcoin: $89,000 and $75,000. While there are signs of selling pressure, they haven't reversed yet. The analysis indicates that Bitcoin is in a wait-and-see phase, with no clear market top yet, and they remain cautiously optimistic about the long-term outlook for 2025.