#YFI retraced more than 80% of the move it made and still going bearish at this point. Still, waiting for the price to have the reach the key area below $8000 to $7000 looks good enough.

Here's the Analysis of #THETA :

#THETA rejected from the key resistance area of $3.33 - $3.46, and also moving through the channel pattern. Price going for an another correction leg down towards the support zone around $1.68. Buys likely to happen there, take it accordingly.

#BTC broke the small channel to the downside and gave a close below candle. Price reached the lower support zone (grey box) around $95,000 and holding. Price again formed a small consolidation over the support, and volume is low and random as well.

#VOXEL is broke below support due to strong bearish in market. Price started a small range below the resistance, and might continue lower as market is not strong enough to move anywhere.

While many newer Bitcoin holders were technically losing money during the price drops, their actual losses weren't as bad as we usually see in down markets. Think of it like this: even though lots of people were underwater on their investment (meaning the price was lower than what they paid), they weren't drowning - the water wasn't that deep. This suggests these market dips were milder than typical crypto downturns, even though they affected a large number of recent investors. 🌊📊

Here's the Analysis of #XVG :

#XVG gone into the sideways market with respecting the resistance trendline and also supporting trendline too. Price can reach out the strong support zone of $$0.0099 - $0.010. Market seems to be slow and need to wait for the market to give some clarity.

#BITCOIN DAILY TF UPDATE :

#BITCOIN haven't moved really much, on Daily TF, Price boke the supporting trendline and the support zone (Gray Box) standing strong too. Price might dip lower again and can react from there further higher after holiday.

#BTC.D nearly claimed the 60% of market dominance and now getting lower. Alts had a retracement and now dominance is going lower, Market is ranging and not expecting the altcoins too much until Holidays.

Long-term Bitcoin holders are selling heavily as prices reach above $100k, even more than when Bitcoin hit $73k in March. While this selling pressure is intense, it's normal for late stages of a bull market when longtime holders take profits. What's notable is that despite all this selling, prices remain strong - suggesting there must be significant new buying to absorb all the selling.

What Is a Unit of Account?

A unit of account is a standardized unit of measurement used in accounting to record and track financial transactions. It is a tool used to assign a value to goods and services and to facilitate transactions. A unit of account allows different goods and services to be compared and valued consistently.

For example, in most countries, the unit of account is the national currency, such as the US dollar or the euro. This means that the value of goods and services can be expressed and compared in terms of the national currency.

In the context of cryptocurrencies, Bitcoin can also be used as a unit of account. This means that the value of goods and services can be expressed and compared in terms of Bitcoin, which can be useful for individuals and businesses operating in countries with unstable currencies. It provides a stable and widely-used alternative for measuring and tracking value.

Why Is Money Called a Unit of Account?

Money is called a unit of account because it serves as a common standard for measuring the value of assets or services. It is used to assign a value and to facilitate transactions by enabling the exchange of one good or service for another. A unit of account provides a common denominator for measuring value.

For example, a loaf of bread might cost $2, and a gallon of gas might cost $3. These prices can be compared and evaluated in terms of the common unit of account, the US dollar.

What Is the Best Unit of Account?

The best unit of account is subjective and depends on its specific context and goals.

In most countries, the national currency serves as the unit of account since it is recognized, accepted and backed by the issuing government. This provides the currency with a degree of stability and reliability and makes it useful as a unit of account.

But in some cases, the stability and reliability of a national currency are doubtful, such as in countries with high inflation or economic uncertainty. In these cases, alternative units of account, such as gold or cryptocurrencies, like Bitcoin, may be used.
In conclusion, the best unit of account depends on factors like stability, reliability, acceptance and trust in the unit of account and its issuer.

Can Bitcoin Become a Unit of Account?

Bitcoin is already a unit of account in the cryptocurrency ecosystem. Different cryptocurrencies can be expressed in terms of their value in Bitcoin, such as ETH/BTC and SOL/BTC. Regarding becoming a global unit of account, it will depend on how widely Bitcoin is adopted as money and whether Bitcoin can become a new global reserve currency. Ultimately, it depends on the stability of Bitcoin and its adoption by different governments and its citizens as the local unit of account.

Here's the Analysis of #XAI :

#XAI going within a messy price action and kinda ranging between. Price looks bearish after breaking of the trendline and gone in small consolidation in LTF. Price can reach the bottom of the support zone of $0.16 -$0.18 looks good for buys.

#BITCOIN WEEKLY TF UPDATE :

#BITCOIN on Weekly TF, given a good close below of the newly support formed and now forming a indecisive candle, and we can say its kinda ranging now. Weekly looks bearish as of now, and can move later in mid-week of January.

Here's the Analysis of #GMT :

#GMT moving within the large consolidation range, between the resistance area of $0.23 - $0.24 and Support at $0.10 - $0.11. Currently, price rejecting from the resistance and might dip to the support again.

#Bitcoin had a very decent closings on weekly TF, showing the bearish side. Currently, price rejected from the resistance and dropping towards the support around $92,550 - 92,800. Not expect much from here as price as volume dries up multiple times.

#US30 UPDATE :

#US30 kept on rejecting the resistance drawn and rejected from there too. New lower low is expected by this week end nothing much volatile move.

You're looking at crypto market dynamics where Long-Term Holders are taking profits of $2.1B daily. While this suggests strong buy-side demand matching these sales, the "fresh capital" interpretation might be oversimplified since it could include recycled trades and market maker activity rather than all new money entering the market.