Flipster Crypto Weekly (December 27)
Bitcoin (BTC) fell more than 3% in Thursday’s session, capping off an otherwise muted week for the crypto markets. The year-end period has historically been characterized by subdued market activity, and this year was no exception. This trend may soon shift, as a significant options expiry looms on the horizon. On Friday at 08:00 UTC, approximately 146,000 Bitcoin options contracts—valued at nearly $14 billion—are set to expire on Deribit. The potential rollover of these positions into the next expiry could introduce heightened market volatility.
Bitcoin (BTC)
Weekly performance: -1.32%
Year-to-date (YTD) performance: +127.47%
BTC has been trading within a range of $92,000 to $100,000, experiencing a period of consolidation following its breakout above the $72,000 level in early November, which marked a more than 30% price increase. This sideways movement is a natural phase as the market digests recent gains. Currently, BTC is finding support at the 50-day moving average (MA), a critical level that often serves as a strong support.
Ethereum (ETH)
Weekly performance: -1.27%
Year-to-date (YTD) performance: +47.99%
Ethereum (ETH) broke below its 50-day moving average (MA) last week and attempted to reclaim it this week but encountered resistance. Currently, ETH is holding support at the $3,300 level. Sustaining this support would establish a higher low, signaling a potential shift from a downtrend to an uptrend. The upcoming week will be crucial, as a breakout above the 50-day MA resistance or a breakdown below the $3,300 support will provide clearer direction on the next trend.
Solana (SOL)
Weekly performance: -1.9%
Year-to-date (YTD) performance: +86.8%
Solana (SOL) broke below the critical $200 level last week, a significant price point as it represented both a key psychological level and a previous breakout point. This level is now resistance, with prices facing multiple rejections during the December 21st and 25th sessions. Currently, SOL is in a downtrend, marked by lower lows, lower highs, and downward-sloping short-term moving averages. However, if prices can hold above the $180 level, forming a higher low, it could indicate the potential for a trend reversal.
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.