Crypto Prices Face Decline as Bitcoin Slips Below $100,000

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As of the writing of this article, the price of Bitcoin (BTC) has dropped to $92,056, moving further away from the $100,000 mark. This decline in BTC price is viewed as a normal occurrence, even during its all-time high journey. Historically, continuous peaks have not been observed in previous cycles, partly due to the accumulation of long liquidations in futures trading. What are the price predictions for Dogecoin , Avalanche, and Cardano ?

Dogecoin (DOGE)

Dogecoin (DOGE) experienced an 11% loss, significantly impacted by today’s BTC drop. However, the price continues to hold above $0.37. We previously mentioned that high leverage during periods of excitement in futures trading poses extra risks. This has indeed happened, leading to the liquidation of high-leverage long positions. In a potential recovery, short positions may face a similar fate.

Regaining support at $0.38 could pave the way for a quicker recovery for DOGE. However, if selling continues, we risk seeing dips to $0.352 and $0.34. With Trump officially taking office on January 20 and a crypto-friendly cabinet forming, the first quarter of the upcoming year appears quite favorable for an increase.

Avalanche (AVAX) and Cardano (ADA)

AVAX’s unfortunate timing has led to a late surge. In this year’s other BTC rises, AVAX consistently lagged, and just as it seemed poised for momentum, BTC reversed and everything fell apart. Once again, AVAX’s price has dipped below $40.

The $38 mark is crucial for AVAX; if it can maintain this level, it may target above $42 again. Beyond that, a bullish area between $50 and $65 will come into focus.

Finally, Cardano (ADA) has returned below $1. After a 250% gain in November, ADA Coin provided many investors with satisfying profit opportunities. Following this rapid increase, selling occurred from investors not expecting such fast growth, resulting in several long red candles. If the decline persists, we could test the $0.78 level.

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