Bitcoin bulls’ run toward $45K could produce tailwinds for UNI, OP, TIA and STX

Last week, the S&P 500 Index (SPX) reached its highest close of the year, while Bitcoin (BTC) saw a new 52-week high, suggesting that risky assets are maintaining strength as the year draws to a close. However, some analysts believe that Bitcoin may be done with its short-term rally and could potentially roll over. Matthew Hyland, an acclaimed analyst and social media commentator, issued a word of caution on X (formerly Twitter), stating that if Bitcoin’s dominance drops below 51.81%, it could indicate the end of the uptrend.
As Bitcoin potentially prepares for an increase to $48,000, there has been speculation regarding the boost of interest in select altcoins. This has led to a surge in the popularity of altcoins, marking a potential shift in investment interest.
The recent performance of popular cryptocurrencies has sparked various discussions among experts. Bitcoin’s price movements have been closely watched, with the latest data showing a tight range near the minor resistance at $44,700, suggesting a potential uptrend. However, a plunge below $42,821 could lead to a deeper correction towards the 50-day simple moving average ($37,152).
Simultaneously, Uniswap (UNI), Optimism (OP), Celestia (TIA), and Stacks (STX) have also seen impactful developments in their respective price trends. Optimism (OP) managed to enter a new uptrend after facing struggles, while Celestia (TIA) is experiencing a strong uptrend with a sharp rise from $1.90 on October 31 to $11.50 on December 6.
As for Stacks (STX), the bulls are attempting to stall the pullback near the 38.2% Fibonacci retracement level of $0.99, signaling a potential uptrend.
While the movement of these cryptocurrencies has been compelling, it’s important to remember that every investment and trading decision carries its own risks. This article serves as an informative guide, and readers are encouraged to conduct their own research before making any decisions.

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