9th December 2024: BTC & ETH’s prediction for this week

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As we saw with the recent fluctuations in Bitcoin (BTC), the market has undergone a healthy deleveraging phase, significantly reducing the funding rates in the contract market.

We anticipate that, in the coming week, capital will likely flow back into the contract trading of mainstream assets.

The influx of hot money should continue to provide support for both Bitcoin and Ethereum (ETH).

Looking at Bitcoin ETF inflows, we’ve observed a sustained net inflow over the past seven days, highlighting the growing role of traditional funds in the crypto space.

While we expect a slight slowdown in BTC inflows this week, particularly ahead of the release of the CPI data, the long-term trend remains positive.

The release of the US November CPI data is a key event this week, as it will influence expectations around a potential rate cut in December.

We expect some risk aversion ahead of the CPI release, but also keep an eye on Microsoft’s audit of Bitcoin investment proposals, which could significantly impact Bitcoin’s short-term price trajectory.

For the week ahead, we forecast Bitcoin’s price range to be between $92,000 and $105,000, with Ethereum fluctuating between $3,700 and $4,200.

Ryan Lee, Chief Analyst at Bitget Research


Disclosure:This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

Kriptoworld.com accepts no liability for any errors in the articles or for any financial loss resulting from incorrect information.

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