Good Morning Crypto Enthusiasts!

Glad to have you back for another edition of the UseTheBitcoin.com newsletter.

1. BTC Price Rebound Expected: Bitcoin may rebound soon as Binance's taker buy volume rises, with analysts predicting a possible retest of $100,000 before year-end.

2. Bonk Falls Despite Token Burn: Solana-based memecoin Bonk burned 1.69T tokens worth $51M but saw prices drop 7.2%.

3. 📈Technical Analysis Masterclass - Solana's current price action presents a compelling opportunity for traders and investors. Watch UseTheBitcoin’s latest Youtube video “Is Solana Ready to Skyrocket? (SOL)” to see a concise breakdown of the key factors supporting this bullish outlook or join our Official Telegram Channel for more alpha!

4. 💡Feature of the Day - Ex-FTX Exec’s Sentence Shortened: Ryan Salame's prison sentence has been reduced by one year, now ending in March 2031.

   
   All this and more in today’s headlines!

📰 News Highlights:

BTC Possible Rebound [Source][Source]

Bitcoin may experience a strong price rebound in the coming days as spot buyer demand rises on Binance.

A popular trading metric, Binance Bitcoin Taker Buy Volume, indicates increased buy pressure, suggesting Bitcoin could retest $100,000 before year-end, according to CryptoQuant analyst Burrakesmeci.

Bitcoin has faced challenges as 2024 ends, trading at $96,222—11.2% below its $108,300 peak from Dec. 17.

However, traders predict a rebound similar to patterns seen in December 2023.

BONK Slides Despite Burn Event [Source][Source][Source]

Bonk, a Solana-based memecoin, saw its price drop 7.2% despite burning 1.69 trillion tokens worth $51 million during the “BURNmas” event on Dec. 26.

Originally scheduled for Dec. 25, the burn aimed to reduce supply and boost prices. The burn exceeded initial targets, reducing circulating tokens by 1.85%.

Critics voiced concerns about poor communication, which eroded trust.

 📈Technical Analysis Masterclass:

Is Solana Ready to Skyrocket? (SOL)

Key Technical Indicators

• Trend Lines and Support Levels:

  • Solana is retracing at a significant support zone where historical price corrections often lead to bullish reversals.

  • This trend line has consistently acted as a strong base for upward moves.

• Resistance-Turned-Support:

  • Solana's price is now within its previous resistance levels, which have transformed into a support zone.

  • This phenomenon reinforces market confidence and indicates potential for a bounce.

• 100-Day Moving Average:

  • The price is currently respecting the 100-day moving average, a key support level in technical analysis.

  • Historically, this moving average has been a reliable indicator for upward price movements.

Risk Management is Key

• While technical indicators suggest a bullish scenario, market unpredictability demands caution.

• Set a Stop-Loss: Place a stop-loss order just below the nearest support level to manage downside risk.

• Avoid Overexposure: Ensure disciplined risk management and diversify your investments.

🎁Freebie:

Download your free ebook now and take the first step toward mastering CRYPTO IN UNDER 60 MINS!

💡 Feature of the Day: 

Ex-FTX Exec’s Sentence Reduced [Source]

Former FTX Digital Markets co-CEO Ryan Salame’s prison sentence has been shortened by one year, now scheduled for release in March 2031.

Salame, who pleaded guilty to conspiracy and campaign finance fraud, was initially sentenced to 7.5 years in prison in May.

The reasons behind these reductions remain unclear.

Today’s Sponsor:

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😂 Crypto Meme of the Day: 

Meme of the day provided by @TheBTCTherapist

And that’s it for this today.

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See you all tomorrow’s edition!

Jonathan Gibson
UseTheBitcoin.com