Ethereum has cleared **$4,000**, marking a significant milestone as **DeFi tokens rally** against Bitcoin. The anticipated **altcoin season** appears to be upon us, with Ethereum and various altcoins leading the charge while BTC dominance experiences a sharp decline.

**ETH** has surged nearly **14% this week**, while **BTC** has only managed a **4% increase**, despite finally breaching the monumental **$100,000** level. Over the past two weeks, **BTC dominance (BTC.D)** has plummeted from **61% to 55%**, coinciding with a surge in total crypto market capitalization to new heights.

![Total MCAP vs BTC.D - TradingView](https://thedefiant.io/_next/image?url=https%3A%2F%2Fcdn.sanity.io%2Fimages%2F6oftkxoa%2Fproduction%2F3f89b329d7ec8a8e3b6449724941c74ab047750b-1050x1033.jpg&amp;w=1200&amp;q=100)

This divergence is not solely driven by Ethereum; **DeFi tokens** have also played a significant role. Notable performers include **HYPE**, which has skyrocketed **330%** in the last week, **AAVE** with a **43%** increase, and **ONDO**, which is up **47%**.

The widening gap between BTC and altcoins was exacerbated by a massive **Bitcoin leverage wipeout** on December 5, leading to over **$200 million** in leveraged longs liquidated within just **30 minutes**. BTC fell from **$99,000 to $91,000** in under an hour, with some speculating it could be the **largest liquidation event** in Bitcoin's history.

Interestingly, unlike most major liquidation events, **altcoins remained relatively stable** during BTC's flash crash, contributing to a total crypto market cap increase of **1.6%**, reaching an all-time high of **$3.88 trillion**.

Ethereum has cleared $4,000, and DeFi tokens are rallying against BTC.

Ethereum Surges Past $4K as Altcoin Season Ignites: What's Driving the Shift from BTC?

### Christmas Day Bitcoin Surge

Bitcoin experienced **an exciting surge**, climbing past **$99,000** on Christmas Day, fueled by renewed optimism in the market. However, this rally was short-lived, as it quickly corrected to **$98,000**, establishing a strong support level.

![Bitcoin Rebound](https://cryptoslate.com/wp-content/uploads/2024/12/christmas-bitcoin-768x403.jpg)

### Market Performance

According to **CryptoSlate’s data**, Bitcoin gained over **5%** within 24 hours, bouncing back from a weekly low of **$92,973**. At the time of writing, it was trading at **$98,000**. This rebound coincided with a broader recovery in altcoins, including **Ethereum**, **XRP**, and **Solana**, each recording gains of over **4%**.

The **global crypto market cap** increased by **3.5%**, reaching **$3.44 trillion**, while the **Crypto Fear and Greed Index** soared to **73**, indicating a sentiment of **Greed**.

### Whale Accumulation Strategy

This bullish trend aligns with insights from **Santiment**, a blockchain analytics firm, which noted that market rebounds often follow panic-induced sell-offs by retail traders. This allows larger investors, or **“whales,”** to acquire assets at discounted rates. Santiment stated:
> “Historically, when retail traders begin to sell based on panic and emotion, whales and sharks have opportunities to scoop up more coins with little resistance, creating bounces.”

### Liquidation Data

Despite the positive momentum, the recent rally faced challenges. Data from **CoinGlass** indicated that over **$290 million** was liquidated in the past 24 hours, affecting **105,883 traders**. Most of these losses came from short positions, totaling **$162 million**, while long positions accounted for **$128 million** in liquidations. Bitcoin traders faced the largest losses, with **$78 million** wiped out, followed by Ethereum traders with **$51 million**.

### Current Market Data

As of **12:52 pm UTC on Dec. 25, 2024**, Bitcoin is ranked #1 by market cap, priced at **$98,000** with a market capitalization of **$1.94 trillion** and a **24-hour trading volume** of **$46.21 billion**. The total crypto market is valued at **$3.42 trillion**, with Bitcoin dominance at **56.76%**.

![Bitcoin Market Overview](https://cryptoslate.com/wp-content/uploads/2024/12/christmas-bitcoin.jpg)  
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.

Bitcoin's brief recovery ignited broader altcoin surges and pushed the Crypto Fear and Greed Index to 'Greed.

Bitcoin's Holiday Surge: Briefly Reaches $99,000 Before Correction

Cryptocurrency investors are experiencing a **remarkable year in 2024**, with the total market cap reaching **$3.5 trillion**, more than doubling from 2023. Leading coins like **Bitcoin (BTC)** are driving this growth, while even **XRP** has rebounded impressively, gaining **250%** this year after overcoming regulatory challenges.

### The Case for XRP (Ripple)
The global banking system is often slow and inefficient, with money transfers taking days. **Ripple** aims to streamline this with its **Ripple Payments** network, allowing financial institutions to transact directly, using **XRP** as a bridge currency. This method can save on currency exchange fees and transaction costs. 

After a significant legal battle with the **SEC**, which partially resolved in August 2024 with a **$125 million fine**, XRP has regained momentum. The token is trading around **$2.21**, but remains well below its all-time high of **$3.40** from 2018. The upcoming political climate may further influence XRP’s potential, as a more crypto-friendly administration could ease regulatory pressures.

![Bitcoin Symbol](https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F801908%2Fgold-coin-with-a-bitcoin-symbol-on-it-cryptocurrency-btc.jpg&amp;op=resize&amp;w=700)

### The Case for Bitcoin
In contrast, **Bitcoin** is a decentralized asset with a capped supply of **21 million coins**, of which **19.8 million** are already mined. Unlike XRP, Bitcoin has not faced regulatory issues, and the **SEC** has approved numerous **Bitcoin ETFs**, enhancing its appeal as a regulated asset. Bitcoin's market cap currently stands at **$1.9 trillion**, and many view it as a digital gold equivalent, with predictions suggesting it could reach **$893,000** per coin in the future, should it catch up with gold's market cap.

![XRP Symbol](https://g.foolcdn.com/art/companylogos/mark/XRP.png)

### The Verdict
While **XRP** offers innovative solutions, its future heavily depends on adoption by banks, which may choose to use fiat currencies instead. This makes XRP a speculative investment. Conversely, **Bitcoin** has established itself as a reliable store of value. With the growing popularity of Bitcoin ETFs and its limited supply, it is poised for better performance in **2025** compared to XRP. Investors are encouraged to consider these factors when deciding where to allocate their funds.



Cryptocurrency investors are having a great year in 2024. The total value of all coins and tokens across the industry currently stands at $3.5 trillion, more than doubling from where it ended in 2023.

XRP vs. Bitcoin: Which Cryptocurrency Will Outperform in 2025?

### Pantera Capital’s Bullish Outlook on Crypto

The CEO of **Pantera Capital**, a firm dedicated to digital assets, has made a bold prediction: the **crypto market** is expected to reach its peak in **2025**. In a recent interview on the **Bankless podcast**, Dan Morehead shared his insights on Bitcoin's price movements and the historical significance of halving cycles.

### Understanding Bitcoin Halving

A **Bitcoin halving** event occurs approximately every four years, where the rewards for mining Bitcoin are halved, effectively reducing the supply. Historically, these events have been associated with significant price rallies. The last halving took place in **April**, and Morehead suggests that based on past patterns, Bitcoin is on track to hit its peak in about **seven months**.

### Timeline to the Peak

Morehead predicts that **August 2025** will be the month to watch, stating:
> *“Everything’s kind of setting up for that... I still think it’s pretty real.”*  
He estimates that Bitcoin could reach a price of **$117,000**, indicating an increase of more than **18%** from its current trading value of **$98,713**.

### Historical Data Insights

Morehead's analysis is rooted in historical data, noting:
> *“Our data is that the halving starts about 400 days before the actual halving, the impact, the low in the markets, and then the high is 480 days after it.”*  
In the past, this pattern has proven accurate, making his forecast compelling for investors.

![Crypto Price Prediction](https://dailyhodl.com/wp-content/uploads/2024/04/realistic-price-bull-top.jpg)

### Current Market Status

As of now, Bitcoin is trading at **$98,713**, reflecting a **3.8%** increase in the last 24 hours. The upcoming months are pivotal for the crypto market as investors watch for signs of the anticipated bull cycle.

[Watch the full interview here](https://www.youtube.com/watch?v=Q3nj3TTaOV8)

The CEO of digital assets-focused investment firm Pantera Capital is predicting that the crypto market's bull cycle will peak in 2025.

Crypto Bull Market Forecast: Pantera Capital Predicts 2025 Peak at $117,000

Crypto executives are known for their **bold predictions** about Bitcoin's future. As we approach the end of 2024, industry leaders are once again sharing their forecasts. Some are bullish, while others are more cautious.

### Predictions from Industry Leaders
- **VanEck** predicts that **2025 will see new highs** for Bitcoin and the entire crypto market.
- **Noelle Acheson**, a prominent crypto analyst, believes Bitcoin's price could exceed **$125,000**.

### Grading Past Predictions
To evaluate the accuracy of these forecasts, let's look back at predictions made for 2024 by notable figures in the crypto space:

#### Bears
Despite their commitment to the industry, some executives like **Arthur Hayes** and firms like **Bitwise** and **VanEck** were relatively bearish. 
- **Hayes** predicted a **$70,000** Bitcoin price by the end of 2024.
- **Bitwise** expected Bitcoin to trade above **$80,000**.
- Analysts from **VanEck** anticipated an all-time high in Q4 of 2024 without specifying a price.

Interestingly, **Bitwise** and **VanEck** proved to be correct, as Bitcoin did surpass **$100,000** by the end of 2024. 
- Hayes, while underestimating the bull run, forecasted Bitcoin could reach between **$750,000 and $1 million by 2026**.

#### Bulls
Others, like **Tim Draper**, were more optimistic:
- Draper predicted Bitcoin would reach **$250,000** in 2024, later adjusting to **$120,000**.
- Analysts from **Matrixport** and **Standard Chartered** also forecasted Bitcoin hitting **$125,000** by the end of the year.
- While their predictions were close, they overshot Bitcoin's actual ending price by about **$20,000**.

#### Dreamers
Finally, some executives are known for their ambitious forecasts:
- **Mike Novogratz** had once predicted Bitcoin would hit **$500,000** in 2024 but later adjusted this to **$100,000**.
- **Cathie Wood's ARK Invest** predicted Bitcoin could reach **$500,000 by 2026** and **$1 million by 2030**.
- **Michael Saylor**, founder of **MicroStrategy**, projected Bitcoin could be worth **$13 million by 2045**.

While some predictions have proven to be more accurate than others, the world of crypto remains unpredictable, and only time will tell who will ultimately be right.

Crypto execs love to predict the future. Some are comparatively bearish, some bullish, and some are really out there. Most of their forecasts are wrong.

Crypto Predictions for 2024: Who Got It Right and Who Missed the Mark?

I realize that this article is not going to be popular with everyone. **Bitcoin** is a kind of tech financial fantasy, whereby many tech fans have come to the conclusion that we can live in some kind of **financial utopia** divorced from inflation and economic woes if we follow this **fake mining path**. There are probably many *CleanTechnica* readers who are big bitcoin or who at least have significant bitcoin holdings.

Unfortunately, bitcoin is a **really stupid idea** that is massively energy intensive and could become the **nail in our climate coffin**. Naturally, it’s not *one* thing that is going to destroy a livable climate for humans (unless you want to say “burning fossil fuels,” which is by far the biggest factor). However, bitcoin — or cryptocurrency mining more generally — is a notable problem, and it basically just captures the essence of our broader problem as humans.

### The Bitcoin Problem

![Bitcoin Energy Use](https://cleantechnica.com/wp-content/uploads/2023/12/Bitcoin-Computer-Energy-Use-Watermarked-CleanTechnica.jpg)

Four years ago, when Tesla bought some bitcoin holdings, Maximilian Holland explained why bitcoin is not good for the climate. Here’s part of his piece (**bold emphasis added**):

> “The problem is that bitcoin’s proof-of-work blockchain validation architecture is undoubtedly a negative phenomenon for climate protection compared to alternatives. There are both other more energy-efficient cryptocurrencies available to choose from and more established currency-hedging strategies to protect Tesla’s cash pile, if that is indeed the prime objective. Almost any of these would have been much more aligned to Tesla’s often-touted mission ‘to accelerate the world’s transition to sustainable energy.’”

Bitcoin’s verification system uses a **“proof of work” mechanism** — which involves validators demonstrating computational effort to solve cryptographically secured number-crunching puzzles, and notably, expenditure of significant computational energy in the form of electricity. This **puzzle-solving** helps keep accurate transaction records and is then rewarded by the allocation of a newly minted bitcoin. As bitcoin's value rises, so does the energy expended to mine it.

“Electricity demand associated with U.S. cryptocurrency mining operations has grown very rapidly over the last several years,” the *US Energy Information Administration* wrote earlier this year. Concerns have grown about the energy-intensive nature of the business and its effects on the U.S. electric power industry. 

### Counterarguments

Some argue that bitcoin mining will just use solar and wind and hydropower more and more. However, the issue is that every serious model for reducing CO2 emissions includes the need to **cut energy use** as well as the need to use renewable energy more. If you spike demand for electricity, it only becomes that much harder to shut down fossil fuel power plants while adding new clean energy ones.

### Human Failings

When it comes down to it, we’ve seen time and time again that humans are just too greedy. Bitcoin is all about “gaming the system” and becoming richer. It’s not about adding value to society. It’s about trying to financially maximize one’s savings in the easiest and most reliable way. **Greed** is winning big time right now and doesn’t seem likely to slow down or turn around. The bitcoin story is either going to be much better in 4 years or much worse in 4 years. I’m afraid that I’m going to be very right about this one…

Sign up for daily news updates from CleanTechnica on email. Or follow us on Google News! I realize that this article is not going to be popular with everyone. Bitcoin is a kind of tech financial fantasy, whereby many tech fans have come to the conclusion that we can live  ... [continued]

Is Bitcoin the Ultimate Threat to Our Climate? Discover the Shocking Truth!

### XRP's Bearish Flag Pattern
The chart reveals a **descending flag pattern** for XRP, suggesting the asset is at a critical juncture. This bearish continuation pattern often indicates a potential decline. Currently, XRP is trading at the **26 EMA**, a historical turning point, offering hope for stabilization or a possible rebound.

Declining highs and lows within a narrow channel characterize this pattern. Despite appearing concerning, the **declining trading volume** during this phase is a positive sign. When volume decreases while prices fall, it typically indicates low selling pressure, suggesting consolidation rather than a long-term bearish trend.

The **26 EMA** serves as a significant support level for XRP. A recovery here could see XRP testing resistance at **$2.40**, with potential movement towards **$2.60-$2.80** if broken. Conversely, if the **26 EMA** fails, XRP may revisit lower levels, particularly the **50 EMA at $1.69**, increasing selling pressure and bearish sentiment.

### Dogecoin's Equilibrium
Currently trading around **$0.318**, Dogecoin finds itself at a pivotal moment. After weeks of volatility, it has reached a state of equilibrium. However, the future trajectory remains uncertain, with bearish signals potentially outweighing bullish optimism.

Dogecoin's price has recently broken the **50 EMA**, indicating waning bullish momentum. If selling pressure increases, the **100 EMA at $0.283** could offer support. Conversely, a drop below this level may lead to a more significant decline towards the **200 EMA at $0.212**. Investors should monitor resistance levels closely, as a breakout above **$0.35** could reignite bullish momentum.

### Bitcoin's Critical Support Level
Bitcoin is approaching the **50 EMA**, a crucial support level historically significant in market cycles. Currently around **$94,000**, a decline below this level could signal a loss of momentum in the rally. Bulls should be wary of this potential decline, as breaching this support might lead to one of the weakest early 2024 rallies, with only a **60% gain** from its all-time high.

Despite these concerns, a recovery from the **50 EMA** could restore confidence, potentially reigniting a rally. However, if Bitcoin continues to decline, it may test lower levels like the **200 EMA around $75,000**, which would indicate a bearish outlook for the upcoming months.

### Market Outlook
While a **60% gain** is notable compared to traditional assets, it may seem underwhelming for Bitcoin. The upcoming days will be crucial for XRP, DOGE, and Bitcoin as they navigate these critical technical levels. Investors must remain patient and vigilant as the market evolves.

XRP's Flag Pattern: What to Expect? Dogecoin (DOGE) Reaches Equilibrium, Bitcoin (BTC) Critical Support Level Reached

XRP's Flag Pattern: Key Insights on DOGE's Stability and Bitcoin's Critical Support Levels

### Bitget's New Wealthy Tuesday Phase

**Victoria, Seychelles, December 24th, 2024, Chainwire**  
Bitget, the leading cryptocurrency exchange and Web3 company, has announced the launch of the latest phase of **Wealthy Tuesday** on December 24 at 15:00 PM (UTC+8). This promotional event series is designed to thank both new and existing users for their ongoing support through **Earn products**.

### Featured Savings Products  
This phase includes enticing **BTC and ETH savings products** with attractive **Annual Percentage Rates (APR)** and flexible terms, allowing users to optimize their cryptocurrency investments effectively.

- **BTC Savings**: 3% APR, 14-day term, personal limit: 2 BTC  
- **ETH Savings**: 5% APR, 14-day term, personal limit: 40 ETH  
  
For the latest details, users should refer to the subscription page for precise product specifications.

### Fixed-to-Flexible Functionality  
Bitget’s **Fixed-to-Flexible feature** ensures seamless transitions for Fixed Savings subscriptions. Upon maturity, funds automatically transfer to **Flexible Savings products**, allowing users to continue accruing interest without interruption. This feature guarantees that idle funds remain actively generating returns.

### Platform Navigation  
The **Earn section**, accessible via the website navigation bar or the app homepage, provides a centralized location for exploring savings products. Users can find specific cryptocurrency offerings through these features.

### Interest Accrual Rules  
- **Hourly**: Principal accrues interest starting the next hour after subscription, credited to the spot account hourly.  
- **Daily**: Principal begins accruing interest at 12:00 AM (UTC+8) the day after subscription, with daily interest distributions starting the following day.  
- **Interest Calculation**:  
  - Hourly: Interest = Accrual Amount × Hourly APR ÷ 365 ÷ 24  
  - Daily: Interest = Accrual Amount × Daily APR ÷ 365  
- **Redemption**: Subscriptions can be redeemed at any time using the Redeem button, with the principal immediately transferred to the spot account.

For additional guidance, users can consult the **Beginner’s Guide to Bitget Flexible Savings** or the **Introduction to Bitget Fixed Savings**.

### About Bitget  
Founded in 2018, Bitget is the world's leading cryptocurrency exchange and Web3 company, serving over **45 million users** in **150+ countries**. The exchange is committed to helping users trade smarter with its pioneering copy trading feature and other trading solutions, while offering real-time access to Bitcoin and Ethereum prices.

Formerly known as BitKeep, **Bitget Wallet** is a world-class multi-chain crypto wallet offering comprehensive Web3 solutions, including wallet functionality, token swap, NFT Marketplace, and DApp browser.

Bitget is leading the charge in driving crypto adoption through strategic partnerships, including its role as the **Official Crypto Partner** of **LALIGA** in Eastern SEA and LATAM markets, as well as a global partner of Turkish National athletes to inspire the community to embrace the future of cryptocurrency.

### Risk Warning  
Digital asset prices are subject to fluctuation and may experience significant volatility. Investors should only allocate funds they can afford to lose. Past performance is not a reliable indicator of future results. Bitget accepts no liability for any potential losses incurred. For further information, please refer to our Terms of Use.

                     Victoria, Seychelles, December 24th, 2024, ChainwireBitget, the leading cryptocurrency exchange and Web3 company has announce...

Ethereum Surges Past $4K as Altcoin Season Ignites: What's Driving the Shift from BTC?

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Other Latest News

Bitcoin's Holiday Surge: Briefly Reaches $99,000 Before Correction

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Crypto Bull Market Forecast: Pantera Capital Predicts 2025 Peak at $117,000

Crypto Predictions for 2024: Who Got It Right and Who Missed the Mark?

Is Bitcoin the Ultimate Threat to Our Climate? Discover the Shocking Truth!

XRP's Flag Pattern: Key Insights on DOGE's Stability and Bitcoin's Critical Support Levels

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Other Latest News

Bitcoin's Holiday Surge: Briefly Reaches $99,000 Before Correction

XRP vs. Bitcoin: Which Cryptocurrency Will Outperform in 2025?

Crypto Bull Market Forecast: Pantera Capital Predicts 2025 Peak at $117,000

Crypto Predictions for 2024: Who Got It Right and Who Missed the Mark?

Is Bitcoin the Ultimate Threat to Our Climate? Discover the Shocking Truth!

XRP's Flag Pattern: Key Insights on DOGE's Stability and Bitcoin's Critical Support Levels

Unlocking Wealth: Bitget Launches Exciting New Savings Products for Crypto Investors!