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Shiba Inu Watchdog Issues Urgent Warning as Scammers Exploit SHIFU Token

Abdulkarim Abdulwahab
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Shiba Inu Watchdog Issues Urgent Warning as Scammers Exploit SHIFU Token

The Shiba Inu ecosystem faces yet another scam attempt as Susbarium, the trusted ecosystem watchdog, issues a new scam alert on Thursday.

The latest alert flagged a fraudulent post claiming to offer SHIFU token rewards to users who register within a 24-hour window. The fake announcement shared via X directed users to a suspicious website and urged them to “act quickly” to claim rewards.

Warning for the Shiba Inu Army

According to Susbarium’s warning, the disclosure is a phishing attempt to deceive users and steal their assets. The post included an image featuring the SHIFU branding, a token of Shiba Inu’s gaming project, Play With Shib. However, the watchdog clarified that the post was not from an official or credible source. 

“Always verify information through official channels and avoid sharing personal details,” Susbarium stated in its tweet.

Official SHIFU Rewards Details

The legitimate SHIFU token initiative is part of a partnered airdrop between Play With Shib and Imaginary Ones to reward participants within the Play-to-Earn ecosystem.

Earlier this month, Shiba Inu lead developer Shytoshi Kusama announced a tournament for Shiba Eternity that offered incentives such as 500 BONE and SHIFU airdrop points. 

The competition ran from November 29 to December 2. It allowed participants to win BONE and earn SHIFU points, boosting eligibility for the upcoming airdrop. This event is part of efforts to engage players with Shiba Eternity’s Web3 beta ahead of its mainnet launch. The game is still in beta, with no set date for the full launch.

Shiba Inu ecosystem official platforms will communicate any announcements regarding SHIFU rewards or related events.

Scammers Target the SHIB Army as the Ecosystem Expands

The Shiba Inu community has long been a recurring target for scammers due to the project’s popularity and active user base. As Shiba Inu expands its ecosystem with projects like Shiba Eternity and the SHIFU token, the risk of fraudulent schemes has also grown.

Kusama recently exposed how scammers exploit his interactions with the SHIB community. Scammers have been buying accounts he follows on X and using them to promote fake tokens, especially TREAT, by impersonating influencers. 

Kusama stressed the importance of relying on official channels for information. Emphatically, the Shiba Inu team continues to warn users about fraudulent TREAT tokens, emphasizing that they are not yet live for trading.

Bitcoin at Its Limit? Why This Bloomberg Expert Says This Might Be as Good as It Gets

Okoya David
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Bitcoin at Its Limit? Why This Bloomberg Expert Says This Might Be as Good as It Gets

A Bloomberg commodities expert believes the 2024 bullish market momentum is just “as good as it gets” for risk assets, including Bitcoin.

Even as Bitcoin continues its show of strength, extending its price record above $100,000, crypto market participants continue to call for higher prices, suggesting that 2025 might be an even bigger year for the asset and the broader crypto market. 

However, amid this market euphoria, one prominent analyst has offered a note of caution. Could this be the limit for Bitcoin and the broader crypto market?

Gold Strength Offers Warning 

This might be as good as it gets for risk assets, including Bitcoin, according to Bloomberg Intelligence Senior Commodity Strategist Mike McGlone. 

McGlone expressed this view in an X post on Thursday, December 19, citing Bloomberg Intelligence’s macroeconomic annual performance dashboard. Per the dashboard, Bitcoin has been the strongest performer in 2024, with over 136% year-to-date (YTD) gains. At the bottom are U.S. Treasury bonds with a 4.3% YTD decline.

Bloomberg Intelligence
Bloomberg Intelligence

While this table seemingly highlights Bitcoin’s strong 2024 showing, McGlone contends that there is a warning for risk assets hidden within.

As the analyst highlighted, gold is just behind Bitcoin on the table, with a 27.8% YTD performance, more than the 26.1% YTD performance of the S&P 500, with which the leading crypto asset is strongly correlated. McGlone warns that this gold strength, despite the AI boom, may suggest that risk assets may soon be facing headwinds.

This is because investors typically flee to gold in search of a safe haven in times of uncertainty. One such headwind that may be looming for risk assets is persistent inflation.

Quantitative Tightening Not Over Just Yet

Following the Federal Open Market Committee (FOMC) meeting on Wednesday, December 18, Federal Reserve Chair Jerome Powell warned that the central bank’s tussle with inflation was not over. 

In the most recent projections, the central bank sees inflation at 2.5% in 2025, up 0.4% from an initial 2.1% projection in September 2024. As such, the Fed plans to keep interest rates higher for longer, which could maintain the squeeze on much-needed liquidity for risk assets like Bitcoin.

Specifically, the Fed now plans to make only two quarter-point rate cuts in 2025 instead of the initial projection of four.

The new Fed posture unsurprisingly led to a sell-off across equities and the crypto markets, with Bitcoin dropping as much as 7% from over the $106,500 price point to about $98,800. Still, some analysts remain positive.

Bitwise CIO Matt Hougan has contended that the crypto market now has internal momentum that is likely to have a greater impact than the Fed.

According to Hougan, the positives for crypto include the pro-crypto tide in Washington with the incoming Donald Trump administration, institutional adoption, Bitcoin purchases by corporations and governments, and technological breakthroughs.

Here’s the Bitcoin Price That Could Trigger MicroStrategy’s Liquidation

Albert Brown
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Here’s the Bitcoin Price That Could Trigger MicroStrategy’s Liquidation

CryptoQuant founder reveals the Bitcoin price that could trigger a liquidation event for MicroStrategy in an attempt to dismiss concerns.

Business intelligence firm MicroStrategy, led by Michael Saylor, remains one of Bitcoin’s most prominent institutional investors. The company has consistently increased its Bitcoin holdings, despite the potential risks tied to such aggressive accumulation. 

MicroStrategy’s Bitcoin Liquidation Price

While the firm has seen massive gains, some critics like Peter Schiff have expressed concerns over these financial risks. Ki Young Ju, the founder of CryptoQuant, recently highlighted the Bitcoin market conditions that could trigger MicroStrategy’s liquidation. 

In an effort to emphasize how unlikely this scenario is, he stated that MicroStrategy’s financial collapse would only occur in extremely catastrophic scenarios, such as an asteroid hitting Earth.  

At the time of his disclosure, MicroStrategy’s BTC holdings were worth $46 billion. The company’s outstanding debt stood at $7 billion, which places its liquidation price for Bitcoin at $16,500. 

This means Bitcoin would need to plunge to $16,500 for the company to risk losing its massive holdings. Notably, the last time Bitcoin saw this price level was in November 2022, in the aftermath of the FTX implosion.

According to Ju, Bitcoin’s historical price data reassures MicroStrategy of the safety of its position. For over 15 years, BTC’s price has never fallen below the realized cost basis of long-term Bitcoin whales. 

Can BTC Drop Below the Old Whales’ Realized Price?

At press time, Bitcoin has maintained the $100,000 mark, currently trading for $102,268 despite yesterday’s market bloodbath. Meanwhile, the cost basis for long-term whales currently stands at $30,000, much higher than MicroStrategy’s liquidation price of $16,500.

For context, “long-term whales” refer to Bitcoin holders with addresses containing over 1,000 BTC for more than 155 days. These addresses exclude wallets linked to exchanges or miners. Historical data reveals that Bitcoin has consistently traded above the realized price of these whales.  

Bitcoin came close to falling below this crucial realized price metric in November 2022, during the collapse of the FTX empire. At the time, Bitcoin’s price sank to $16,600, perilously close to the $15,407 realized price of long-term whales. Despite the steep drop, market bulls managed to stabilize prices and prevent a further decline.  

This recovery showed the strength of Bitcoin’s support levels, particularly when it nears the realized price of long-term holders. Since then, Bitcoin has remained well above the realized price metric, bolstering confidence in the resilience of its price floor.  

MicroStrategy’s Bitcoin Strategy 

Notably, MicroStrategy’s Bitcoin investment strategy involves leveraging convertible debt offerings to acquire massive amounts of the asset, which has often raised questions about financial sustainability if market conditions turn unfavorable.  

The software company has so far spent $27 billion to accumulate 439,000 BTC at an average cost of $61,694 per Bitcoin, according to data from Saylor Tracker.

The current value of these holdings stands at $44.86 billion, reflecting a gain of $17.77 billion based on the most recent Bitcoin price of $101,000. MicroStrategy’s latest purchase included 15,350 BTC for $1.5 billion at an average price of $100,386.  

MetaMask Launches Its Crypto Card Pilot Program in the US

Lele Jima
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MetaMask Launches Its Crypto Card Pilot Program in the US

Leading Ethereum wallet provider MetaMask announces the launch of a limited pilot program for the MetaMask Card in the U.S. 

MetaMask announced the development yesterday, noting that selected U.S. residents can now gain access to the payment card before it is released to the public. 

The MetaMask Card allows users to spend the crypto assets stored in their MetaMask wallet in physical stores and online platforms where Mastercard is accepted. 

Despite launching the limited pilot program in the U.S. yesterday, the team emphasized that the product is unavailable in states like New York and Vermont. 

How to Join MetaMask Waitlist 

Users who wish to try the MetaMask Card before its public release must join the program’s waitlist. 

To do this, visit the waitlist platform and click ‘Join Waitlist.’ Click ‘Start’ and provide certain details like email address and country of residence. Afterward, submit the entry, and MetaMask will notify you when the card is available in your region. 

The MetaMask team first announced the launch of the MetaMask Card pilot program earlier this year, following a partnership with Baanx (Crypto Life). At the time, the company made the payment card available to selected users in the United Kingdom and Europe. 

MetaMask Card Support 

The pilot program has been extended to other jurisdictions, including Switzerland, Brazil, Mexico, and Colombia. The U.S. is the latest addition, with the card currently available in all states except New York and Vermont. 

Since the card is currently in pilot, it supports only a few cryptocurrencies within the Linea Network. This includes USDC (USDC), Tether (USDT), and Wrapped ETH (WETH). However, USDT and WETH are not supported in the U.S. MetaMask might add more crypto assets on other networks before the card launches for public use. 

Meanwhile, users can also integrate the card with two mobile payment services, Google and Apple Pay, which allow contactless purchases on mobile apps. 

The timeline for the public launch of the MetaMask Card remains uncertain. Currently, the company is expanding the pilot program to more regions.

Dogecoin to Surge to $30 as DOGE Repeats Same Price Action of 2021: Top Analyst

Albert Brown
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Dogecoin to Surge to $30 as DOGE Repeats Same Price Action of 2021: Top Analyst

While Dogecoin has recently been caught in a massive bearish onslaught, analysts are issuing bold statements about a potential rebound.

Yesterday, Dogecoin’s price dipped to $0.34 after trading in the $0.40 range earlier. While the meme coin has yet to recover from this drop, some market watchers are already predicting a rebound to as high as $30.

Among those voicing this ambitious forecast is Trader Tardigrade on X. According to him, Dogecoin’s next pump is on the way. The foundation of this perspective comes from Dogecoin’s historical chart, especially when analyzed from a weekly timeframe.

Dogecoin Historical Patterns

In this Dogecoin price news, chart highlights that Doge exhibited a double bottom during the bear cycle of 2019 and 2020. Following these occurrences, a descending channel pattern surfaced, from which a major breakout materialized.

His chart shows that Dogecoin similarly registered two bottoms in the 2022 and 2023 bear markets, followed by a descending channel formation that led to another breakout.

Image
Dogecoin chart by Trader Tardigrade

Another key point from the chart was the cooling off after Dogecoin’s initial speculative rally in the first quarter of 2021. While DOGE traded with two zeros in Q4 of 2020, it erased one zero in its run into the new year.

Specifically, the meme coin soared from around $0.002452 in November 2020 to $0.08495 by February, representing a massive growth of 3,366%.

However, Dogecoin later entered a consolidation phase, during which it traded around $0.05 for a few weeks before breaking out again. Specifically, by April 2021, the trend shifted, and Dogecoin dramatically surged by 677% from $0.05529 to above $0.43 in the same month.

Dogecoin Following This Pattern

Analyst Tardigrade believes Dogecoin is perfectly mirroring this pattern with its ongoing price action. Tardigrade expects a turnaround to unfold soon for Dogecoin. He anticipates that Dogecoin will similarly establish giant green candles in the coming weeks, as seen in historical patterns.

In the scenario where Dogecoin fully mirrors the 2020/2021 period, Tardigrade expects Dogecoin to rally as high as $30. From the current price of $0.3633, reaching $30 would represent a massive return of 8,158% for those holding Dogecoin today during this dip.

It’s worth noting that at a $30 price, Dogecoin would have a market cap of over $4 trillion, which is a highly speculative scenario. Despite this, other market watchers have argued for a similar price point for Dogecoin in this cycle.

Meanwhile, conservative estimates for Dogecoin this season include a $3 price and an $8 target.

Expert Questions Whether Shiba Inu Reaching $0.01 Can Happen or If It’s Just a Dream—Here’s the Answer

Lele Jima
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Expert Questions Whether Shiba Inu Reaching $0.01 Can Happen or If It’s Just a Dream—Here’s the Answer

Popular crypto YouTuber CryptoJack questions Shiba Inu’s potential to hit one of its ambitious price targets, asking whether the prediction will ever happen or remain a dream. 

Several market watchers have been closely observing Shiba Inu (SHIB), with some setting audacious targets for the asset, including a potential surge to $0.01. 

Particularly, experts at Changelly forecast that Shiba Inu will hit the $0.01 milestone by October 2040, approximately 16 years from now. 

Users Doubt the $0.01 Forecast for Shiba Inu

The $0.01 prediction, popularly referred to as the one-cent dream, has gained momentum within the Shiba Inu community. Many investors fantasize about how they plan to retire early if SHIB eventually reaches $0.01. 

However, some users have questioned Shiba Inu’s potential to hit the $0.01 target. Famous crypto YouTuber CryptoJack raised this concern in a recent X post, asking whether Shiba Inu can realistically reach the $0.01 price target.  

Reaching the $0.01 requires Shiba Inu to rally by 41,290% from the current price of $0.00002416. At $0.01, Shiba Inu’s market cap will soar to a whopping $5.84 trillion, surpassing Bitcoin’s valuation of $2.01 trillion. This reflects a surge of 41,290% from Shiba Inu’s current market cap of $14.12 billion, demanding a substantial amount of capital influx.

Can Shiba Inu Soar to $0.01? 

Given the hefty growth necessary to achieve the $0.01 price target, many users have dismissed the possibility of Shiba Inu ever reaching it in its lifetime. Some suggest that due to the token’s hefty supply, it will forever remain a dream. 

For context, Shiba Inu began trading in August 2020, boasting an initial extensive supply of 1 quadrillion tokens. So far, 410 trillion SHIB tokens, representing 41.74% of the total supply, have been incinerated. 

Despite this, Shiba Inu still has a total supply of 589,257,176,554,960 (589.25 trillion), with 584.11 trillion tokens currently in circulation, according to Shibburn data. 

Only Way Shiba Inu Can Hit $0.01

Consequently, some community members suggest that burning a huge chunk of the supply might be the only way SHIB can reach the $0.01 target. 

As a result, they propose that the ecosystem team actively buy back SHIB from the market and burn them. This would permanently remove the tokens from the supply, potentially raising the value of the remaining tokens in the long term to targets like $0.01. 

The team’s existing efforts to drastically reduce SHIB’s supply through Shibarium-powered burns seem insufficient. So far, Shibarium-powered burns have successfully removed about 57 billion SHIB from the supply, representing about 0.01% of the total burns Shiba Inu has recorded since its inception. 

Should the team actively buy back SHIB from the market and send them to the official dead wallet, it would drastically reduce the circulating supply, helping Shiba Inu attain the $0.01 target at a lower valuation instead of the aforementioned $5.89 trillion market cap. 

Expert Calls for Calm Amid Heavy Selling Pressure on SHIB  

Meanwhile, Shiba Inu is facing intense selling pressure in the ongoing market downturn, with many investors converting their SHIB tokens to more stable assets like USDT. Earlier today, an early Shiba Inu investor sold 400 billion SHIB on Gemini, netting a profit of $9.59 million. 

In the meantime, popular community analyst Shib Spain has urged investors to remain calm and not sell their SHIB holdings in the ongoing market crash. 

The expert emphasized that Shiba Inu is currently trading above a key support level at $0.000023, demonstrating the asset’s resilience in the broader market crash. 

Currently, Shiba Inu’s trading volume has exploded by 66.69% over the past 24 hours to $1.39 billion. Its price has also plunged by 6.59% in the past day and 17.77% over the last seven days to $0.00002416. 

Dogecoin Risks $0.35 Breakdown: Is DOGE Price Entering Bearish Territory?

Albert Brown
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Will Dogecoin survive the ongoing supply flood and stage a rebound rally from $0.35 to challenge key resistance levels?

With a massive liquidation spree hitting the crypto market, Dogecoin faces significant selling pressure, resulting in a sharp decline. Amid such conditions, DOGE’s price stands at a critical juncture in determining its upcoming trend.

As the meme coin segment sees an exodus of investors, Dogecoin’s chances of reversal appear slim. Will the largest meme coin withstand the bearish pressure, or is a crash to $0.30 inevitable?

Dogecoin (DOGE) Price Analysis

The Dogecoin price trend on the 4-hour chart shows a significant correction over the past few weeks. After failing to reach the $0.50 psychological mark, the DOGE rally peaked at $0.4846 on December 8, 2024.

Since then, increased market volatility has dampened buying pressure for Dogecoin. After breaking below the 200-EMA line on the 4-hour chart, DOGE crashed to a 24-hour low of $0.3574 as the broader market corrected.

COINBASE:DOGEUSD Chart Image by Trojan69420

However, Dogecoin’s price action shows a lower price rejection, currently trading at $0.35962. The sudden surge in supply, which triggered the massive crash, has led to a bearish crossover between the 20-EMA and 200-EMA lines.

Furthermore, the increased bearish momentum on the 4-hour DOGE has caused a decline in the 4-hour RSI, which has entered the oversold zone and is signaling a sell.

This limits the chances of a double bottom forming at $0.35, as the Dogecoin price bounced from similar levels in November. Therefore, the technical indicators suggest that a bullish reversal is unlikely.

Dogecoin Key Price Levels

If the Dogecoin uptrend continues above the 23.60% Fibonacci level at $0.3732, it will face multiple dynamic resistances, including the 200-day and 20-day EMA lines. These could hinder the uptrend, making it difficult for the price to reclaim the $0.40 mark.

Conversely, speculative traders in the meme coin space are likely to exit their positions as market volatility increases. In such a case, the Dogecoin price will likely retest the crucial $0.34 support, with added pressure.

WallStreetBets Founder Tips Cardano To Become “Official Lobbyist Currency” in 2025

Okoya David
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WallStreetBets Founder Tips Cardano To Become “Official Lobbyist Currency” in 2025

The founder of WallStreetBets, a prominent market-focused subreddit, believes Cardano will become the “official lobbyist currency” in 2025.

As 2024 comes to a close, crypto market participants are looking ahead to what 2025 might hold after what has been a whirlwind year for the industry with several wins.

Amid the questions and speculations, one influential market observer has offered what many have taken to be a significantly positive call for ADA, the native token of the Cardano blockchain.

“Official Lobbyist Currency”

Cardano’s ADA will be the “official lobbyist currency” of 2025, according to WallStreetBets founder Jaime Rogozinksi.

Rogozinksi expressed this view in an X post on Wednesday, December 18, outlining his crypto predictions for the coming year. Aside from his ADA prediction, he tipped SUI to take Solana’s shine and Ripple to take over the stablecoin market with its RLUSD token.

Several members of the ADA community have reacted positively to the prediction as it has been taken to mean that the asset would gain wide adoption and recognition, especially in regulatory and political circles.

“Let’s go, Cardano,” Cardano Feed, an X account dedicated to Cardano developments, noted in response to Rogozinksi’s prediction.

The seemingly positive ADA projection comes despite the recent decline in sentiment around the asset.

Cardano Sentiment in the Red

As reported by The Crypto Basic on December 17, weighted sentiment around the popular altcoin has flipped negative in recent weeks. The metric has fallen from a high of 2 on Santiment Feed‘s scale to a negative of 0.786.

Notably, the sentiment shift comes as the asset’s price has shown signs of weakness in recent weeks.

After soaring over 300% from $0.3263 to $1.3264 in the rally sparked by the election of Donald Trump, who showed extreme support for crypto on the campaign trail, ADA has reversed to trade below the $1 price level after forming what appears to be a lower high on its daily candle chart.

ADA/USDT daily candle chart
ADA/USDT daily candle chart. Source: TradingView

Despite this apparent weakness, ADA whales remain confident in the asset’s prospects. As of Wednesday, December 18, data showed that this class of investors purchased 160 million ADA worth nearly $160 million.

SUI Price Targets $5 Breakout Amid Reversal Chances in a Falling Crypto Market

Albert Brown
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SUI Price Targets $5 Breakout Amid Reversal Chances in a Falling Crypto Market

Will the price of SUI rise against the bearish market to create a new all-time high above $5?

As the broader market experiences a massive crash due to selling pressure, altcoins are falling rapidly. However, amid these rising bearish conditions, SUI is maintaining dominance at its crucial support levels.

As the altcoin showcases resilience amid increased market volatility, its ability to hold above the $4 psychological mark reflects strong underlying support. Will this strength lead to a bullish comeback, pushing the price past the $5 psychological level to establish a new all-time high?

SUI Price Analysis

On the 4-hour chart, the SUI price trend reveals a rising channel pattern. The bullish extension is triggered by a breakout of a falling channel within this bullish pattern.

However, SUI has encountered strong resistance near the $5 psychological level. The trend is struggling to close decisively above $4.75 while facing significant price rejections as it attempts to surpass the $5 mark.

COINBASE:SUIUSD Chart Image by Trojan69420

With multiple long-wick formations due to massive supply pressure, SUI’s price consolidated for a while. The consolidation range extended between the 61.80% Fibonacci and 78.60% Fibonacci levels, at $4.44 and $4.75, respectively.

The pullback in the broader market recently caused SUI’s price to drop below the consolidation support. While increased supply pushed the price to a new 24-hour low of $4.07, the underlying strength and psychological support led to a swift recovery.

SUI is currently trading at $4.3850, reflecting an intraday growth of 1.16%. However, the negative cycle within the rising channel pattern resulted in a 6.67% drop yesterday.

With lower price rejections, SUI maintains a close above the 50% Fibonacci at $4.194. The recovery aims to reclaim the $4.50 level.

The recent shift in sentiment has led to a declining MACD and signal line trend, extending its bearish momentum. Additionally, the RSI is approaching the oversold boundary. These momentum indicators suggest a strong bearish trend in SUI prices.

SUI Price Targets

Using the trend-based Fibonacci levels, the lower price rejection from the 50% level increases the likelihood of a bullish reversal. If the uptrend continues, a breakout rally could push the price to re-test the 78.60% Fibonacci level.

In the event of a strong close and a broader market recovery, the uptrend could target $5.24 by the end of 2024. Conversely, a continued decline would test the local support trendline near the 38.20% Fibonacci level at $3.9459.

As Bitcoin (BTC) Price Drops to $98k: Will It Crash to $90k?

Albert Brown
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As Bitcoin (BTC) Price Drops to $98k: Will It Crash to $90k?

Will the short-term correction in Bitcoin (BTC) price lead to a sharp drop to the $90k mark before 2025?

Amid increased market volatility following the U.S. Federal Reserve’s rate cuts, Bitcoin quickly retested the $100k level. The increased supply and a surge in FUD (fear, uncertainty, and doubt) signal a potential correction.

While technical indicators suggest a potential bounce, a bearish shift in derivatives warns of a dip to $90k. Could continued institutional support be the game changer?

Bitcoin Price Analysis

After a massive 5.68% correction last night, Bitcoin formed a large bearish engulfing candle, temporarily dropping below the $100,000 psychological level.

Meanwhile, shorting after hitting a 24-hour low of $98,695, Bitcoin reclaimed the $101,000 level. On the 4-hour chart, Bitcoin’s price action shows a bullish reversal, breaking above the local support trendline.

Bitcoin price chart
Bitcoin price chart

There’s a minor reversal with lower price rejection just above the 23.6% Fibonacci level at $98,769. Additionally, Bitcoin has avoided closing below the long-standing support trendline.

The MACD and signal lines are in a steep bearish decline, and the RSI is nearing the oversold zone. These momentum indicators trigger a sell signal for BTC in the short term.

Bitcoin ETFs Inflows Continue, Open Interest Surges to $67B

Despite the correction, institutional support for Bitcoin remains strong. On December 18, BlackRock’s Bitcoin ETF, IBIT, saw an inflow of $359.6 million, while others experienced significant outflows. Overall, the daily net inflow for US spot Bitcoin ETFs was $275.3 million.

Amid the correction, Bitcoin’s open interest has risen to $67.75 billion, and trading volume has increased by 34%, reaching $146.38 billion. This surge in open interest reflects growing bearish sentiment, as the overall funding rate drops to 0.0101%.

Bitcoin Price Targets

From a bearish perspective, technical indicators and derivatives are signaling a sell. A close below the support trendline could likely lead to a retest of the $90,000 support level.

However, if the market stabilizes, the chances of a bullish rebound from the support trendline will improve significantly. Based on the Fibonacci levels, a potential uptrend could target the 50% Fibonacci level at $106,912.

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