Bitcoin Price Forecast: Thanksgiving FUD Looms Over Market
Bitcoin (BTC) faced renewed pressure this week, falling below the $95,000 mark on Thursday. Investors are wary as Thanksgiving approaches, recalling the infamous 2020 “Thanksgiving Massacre,” where BTC experienced a sudden 17% drop.
Despite current market fear, optimism remains. Reports suggest the ongoing bull market is intact, with analysts projecting a potential target of $146,000 for Bitcoin. Additionally, metrics indicate BTC is not overvalued, providing hope for investors.
Fantom Bulls Target Yearly High Amid BTC Recovery
Fantom (FTM) extended its rally with an 8% surge on Thursday, trading above $1.09 after a remarkable 43% gain in the prior week. The broader altcoin market also showed strength as Bitcoin rebounded from its recent pullback.
On-chain data bolsters Fantom’s bullish outlook:
- Daily trading volume has reached record highs.
- Open Interest (OI) continues to surge, reflecting strong investor confidence.
These indicators suggest the rally for FTM and similar altcoins could continue in the near term.
Potential Crypto Oversight Shift Under Trump Administration
The incoming Donald Trump administration may bring significant changes to crypto regulation. According to sources cited by Fox Business, Trump could move oversight of cryptocurrencies from the Securities and Exchange Commission (SEC) to the Commodity Futures Trading Commission (CFTC).
If implemented, this shift could:
- Expand the CFTC’s authority over the $3 trillion digital asset market.
- Reduce the SEC’s role in regulating cryptocurrencies.
Such a move could reshape the regulatory landscape, potentially impacting how digital assets are governed in the United States.
Ecosystem
Research
News Network
About