Crypto Rundown: Bitcoin Supply is Low Near $100k & Altcoin Season is Starting!

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Dec 4, 2024

Hosts discuss Bitcoin's thrilling rise near the $100k mark and the impressive surge of altcoins. They delve into Bitcoin's declining dominance, analyzing the flourishing altcoin market with Ethereum, XRP, and Cardano on the rise. Market predictions hint at a robust altcoin season, spurred by recent ETF inflows and institutional interest. Excitement builds around the upcoming Hedge Fund Summit and Microsoft’s potential Bitcoin pitch. Overall, there's a bullish sentiment sweeping through the crypto universe, hinting at bright prospects ahead.

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INSIGHT

Bitcoin Squeeze

Bitcoin is experiencing a squeeze below $100,000, forming a pennant or symmetrical triangle.
This pattern suggests a potential breakout, with a likely 10% move in either direction.

INSIGHT

Falling Bitcoin Dominance

Bitcoin dominance is falling, signaling a potential altcoin season.
This fall has historically allowed altcoins to surge significantly.

INSIGHT

Tom Lee's Bitcoin Prediction

Tom Lee predicts Bitcoin will close well above $100,000 before year-end, citing low supply.
He believes a supply shortage could fuel a price chase if Bitcoin breaks $100,000.

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