Binance XRP Reserves Fall To 2024 Low — Recovery Soon?

Itaú Asset Management, Brazil's largest private bank, has advised investors to allocate 1% to 3% of their portfolios to Bitcoin starting in 2026, framing it as a complementary asset rather than a primary investment. This recommendation aligns with a growing trend among major financial institutions advocating for Bitcoin as a hedge against market volatility.

Bitcoin is approaching a pivotal moment as the Bank of Japan is expected to raise interest rates by 25 basis points to 0.75% during its upcoming meeting on December 18-19, marking the highest level since 1995. This anticipated policy shift has created a sense of unease among traders, particularly given Bitcoin's historical volatility in response to macroeconomic changes.

Michael Saylor has hinted at another potential Bitcoin purchase, coinciding with the resurgence of his investment strategy's 'orange dots' indicator, which suggests favorable market conditions for Bitcoin. This announcement reflects Saylor's ongoing commitment to Bitcoin as a core asset for his company, Strategy.

Bitcoin's price ended the week below $89,000, losing all gains made earlier in the week due to concerns about liquidity and the upcoming interest rate decision by the Bank of Japan. This decline follows a brief stabilization above $90,000, highlighting the volatility in the cryptocurrency market.

Venezuela is experiencing severe currency devaluation, prompting individuals and businesses to increasingly adopt US-dollar stablecoins, particularly USDT, as a means to safeguard their savings and facilitate daily transactions. This shift reflects a growing reliance on digital currencies amid economic instability.

Veteran trader Peter Brandt has criticized XRP holders, labeling them as 'uneducated perma bulls' who remain overly optimistic about the token despite its volatile price history. Brandt's comments draw on his extensive trading experience, suggesting that this unwavering bullishness mirrors patterns seen in other markets like silver, where investors often ignore negative price trends.

Ethereum's price action has been identified as a classic example of Wyckoff accumulation, with recent analysis indicating that it is approaching a significant expansion phase. Currently trading around $3,100, Ethereum has been consolidating between $3,050 and $3,400, reflecting a lack of sustained momentum in either direction.

Oil-rich investors are increasingly entering the Bitcoin market through regulated channels such as exchange-traded funds (ETFs), which is enhancing liquidity and transforming the market structure. This trend reflects a shift from traditional petrodollars to digital assets, indicating a growing acceptance of cryptocurrencies among institutional investors.