KEYTAKEAWAYS
- BTC Key Resistance Level: 1.57 Million BTC Holders May Sell at $97,200
- Meme and AI Tokens Crash, GMCI Index Shows Over 50% Drop
- Skybridge Founder Scaramucci: Solana Will Win in Tokenization
CONTENT
BTC KEY RESISTANCE LEVEL: 1.57 MILLION BTC HOLDERS MAY SELL AT $97,200
IntoTheBlock posted on X that 1.6 million addresses purchased a total of 1.57 million BTC at an average price of $97,200. This level is now acting as a key resistance.
These holders are currently at a loss, and if market uncertainty increases, they might sell at their break-even price, adding selling pressure and making it harder for Bitcoin to break above this level.
Analysis:
$97,200 could be a critical battleground between bulls and bears. If BTC rebounds to this level, many investors might sell to break even, leading to short-term selling pressure. If Bitcoin fails to break above, the market could enter a consolidation phase until new buyers step in.
The key question is whether Bitcoin can hold and break through this price level. A successful breakout could trigger further upside, while rejection might lead to profit-taking and panic selling. The future trend will depend on market sentiment, institutional activity, and ETF inflows, which could provide support for Bitcoin’s price.
MEME AND AI TOKENS CRASH, GMCI INDEX SHOWS OVER 50% DROP
According to The Block, data from the GMCI Index shows that Meme and AI tokens suffered the most in the recent market correction. The GMMEME Index and GMAI Index have dropped 60% and 56%, respectively, from their December 2024 highs.
(Source:Tradingview)
Other sectors, including GML2 (Layer 2), GMDEPIN (Decentralized Physical Infrastructure Network), GMGM (GameFi), and GMSOLMEME (Solana Meme Tokens), have also seen sharp declines, with prices falling back to pre-U.S. election levels.
Analysis:
Market risk appetite has clearly decreased, with capital flowing into Bitcoin and other large-cap assets. High-beta assets like Meme and AI tokens have been hit the hardest.
While some investors expect a rebound once the market stabilizes, short-term sentiment recovery will depend on liquidity conditions and the macroeconomic environment.
SKYBRIDGE FOUNDER SCARAMUCCI: SOLANA WILL WIN IN TOKENIZATION
Skybridge Capital founder and managing partner Anthony Scaramucci said on CNBC’s Squawk Box that he is more bullish on Solana (SOL). While Skybridge holds a “small amount” of Ethereum (ETH), he believes Solana’s lower transaction fees and faster processing speed make it a better bet for the future, especially in tokenization.
Analysis:
Scaramucci sees tokenization as one of blockchain’s core applications, and Solana’s efficiency gives it a competitive edge. Some institutions share this view, as Solana’s ecosystem has seen strong growth in DeFi, NFTs, and on-chain finance.
However, Ethereum remains the dominant platform for smart contracts and tokenization. Despite its higher costs, Ethereum’s well-established ecosystem and institutional adoption give it an advantage.
Whether Solana can truly “win” in tokenization will depend on future market dynamics and improvements in its network stability.
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