Flipster Crypto Weekly (January 3)
January 3, 2025
The year’s first week began with volatility, driven by macro uncertainties and liquidity concerns. By mid-week, sentiment shifted as AI tokens and memecoins gained focus, sparking optimism and steadying sentiment.
With Bitcoin dominance cooling as Microstrategy’s Treasury asset narrative wanes, altcoins may be ready to shine. Is it the start of altcoin season–or a belated Santa rally?
Al Tokens Command Attention
AI-focused tokens like FARTCOIN, AI16Z, and ZEREBRO, rebounded strongly after a rocky start. AI remains a central theme in crypto, though sustained momentum hinges on real-world adoption beyond speculative interest.
Source: Kaito.ai
Memecoins Rally
Memecoins gained over 10% on Thursday, primarily driven by Solana-based memecoins, which benefitted from the broader strength in Solana’s ecosystem. Historically, memecoins have been characterized by sharp price swings, driven by hype and community-driven narratives rather than intrinsic value or utility. The spike in activity signals renewed speculative interest in these tokens, often viewed as a sentiment indicator for risk appetite in the crypto market.
Bitcoin (BTC)
Weekly performance: +1.18%
Year-to-date (YTD) performance: +3.69%
Bitcoin (BTC) began the new year on a strong footing, closing in the green for two consecutive sessions. After dropping below the 50-day moving average (MA) last week, BTC found support at the $92,000 level—a key price threshold that has held firm since late November 2024. As of this writing, BTC has reclaimed its position above the 50MA, signaling that the longer-term uptrend remains intact.
Ethereum (ETH)
Weekly performance: +3.60%
Year-to-date (YTD) performance: +3.57%
Ethereum (ETH) has established a local bottom at the $3,300 level following multiple tests and rejections over the past two weeks. This price level, which previously acted as resistance in early November, has now transitioned into a key support area. On Thursday, ETH closed above the 10-day moving average for the first time in two weeks, indicating a potential shift in the short-term trend.
Solana (SOL)
Weekly performance: +9.58%
Year-to-date (YTD) performance: +9.09%
SOL gained significant momentum this week, breaking above the 10 and 21MAs, and the multi-week downtrend line that had previously acted as a strong resistance level. Currently the sixth-largest cryptocurrency by market capitalization, SOL has outperformed and displayed relative strength against both BTC and ETH over the past two weeks, with prices forming higher highs and higher lows on the SOL/BTC and SOL/ETH charts.
Zerebro (ZEREBRO)
ZEREBRO surged during Monday's session, breaking out of its multi-week base and surpassing the $0.55 resistance level on strong trading volume. Riding the renewed interest in AI-related assets, ZEREBRO has gained over 80% this week, reflecting strong market interest in the group.
Source: Flipster
To explore other coins within the AI narrative on Flipster, navigate to the "Trending" list section, click on "Categories," and select "AI."
Disclaimer: This material is for information purposes only and does not constitute financial advice. Flipster makes no recommendations or guarantees in respect of any digital asset, product, or service. Trading digital assets and digital asset derivatives comes with significant risk of loss due to its high price volatility, and is not suitable for all investors.