Bitcoin's Potential Golden Cross and Shiba Inu's Whale Activity

Bitcoin's Potential Golden Cross

Bitcoin is on the cusp of forming a golden cross, a key technical pattern that signals a potential bullish trend. This pattern has historically indicated major price surges, with traders eyeing potential breakthroughs beyond $70,000, possibly reaching up to $75,000. While optimism abounds, there is caution about possible false breakouts, where prices might rise rapidly only to retract. A short-term pullback could occur as traders capitalize on profits, yet the market could regain its upward momentum, driving prices higher. Currently, Bitcoin trades at $67,940, reflecting a slight 0.44% increase over the last 24 hours.

Shiba Inu's Whale-Induced Rally

Shiba Inu has experienced significant activity, marked by a 41% rise in large transactions within a single day, totaling $29.74 million. Over the past week, transactions valued at $100,000 or more increased dramatically from 48 to 209. In terms of volume, large transactions have surged from 925.75 billion SHIB to a staggering 3.42 trillion SHIB. This activity suggests a whale-induced rally, with SHIB's price slightly rebounding by 0.44%. Currently, the token trades at $0.00001769, though it has seen a minor decline of 0.76%.

Tesla's Continued Bitcoin Holdings

Tesla has confirmed its ongoing hold on Bitcoin amid speculation of potential sell-offs. Recent transfers to unknown wallets were clarified as wallet rotations. Following the announcement of better-than-expected earnings, Tesla's stock soared over 12% in premarket trading. The company achieved record profits despite challenges in the automotive sector. Looking ahead, Tesla plans to launch new vehicles in early 2025 and has introduced a ride-hailing service for employees in San Francisco, with expansion plans for California and Texas in the coming year.