What’s Next for Bitcoin and Ethereum After Months of Sideways Momentum?

Bitcoin and Ethereum prices have stagnated for months, leaving traders wondering when the next big move will occur. Analysts predict Bitcoin could surge to over $100,000 by early 2025, based on historical trends, while Ethereum struggles to break its $2,380 resistance level.

Bitcoin’s Next Leap: A trader, CryptoCon, predicts Bitcoin could hit $107,558 by December 2024 or January 2025. Currently, Bitcoin is nearing the $60,000 mark. The recent 11% drop in Bitcoin’s large transaction volume suggests some hesitation, but exchange netflows tightening by 56.7% might signal an upcoming breakout.

Ethereum’s Struggle: Ethereum remains stuck between $2,150 and $2,380. Trader Cold Blooded Shiller believes a breakout will occur once one of these price levels gives way. Ethereum has seen a 10.9% increase in daily active addresses, showing higher engagement, but the next move remains uncertain.

Market Metrics: Bitcoin saw a decline in large transaction volume by 11%, while Ethereum’s volume rose by 2.9%. Despite this, Ethereum saw a 397.8% surge in exchange netflows, hinting at increased trading activity. Liquidations were significant, with Bitcoin seeing $7.4 million and Ethereum $9.8 million in the last 24 hours.

Looking Ahead: Both Bitcoin and Ethereum face pivotal moments. Bitcoin’s next surge could take it past $100,000, while Ethereum’s next big move hinges on breaking resistance or dropping lower. Investors are closely monitoring key price levels to determine the future direction of these major cryptocurrencies.