On New Yr’s Eve, the key U.S. brokerage agency Robinhood pulled an attention-grabbing stunt by dropping $500,000 price of Dogecoin. The market instantly tried to show it right into a Bitcoin story.
The announcement’s effectiveness lies in its simplicity: Robinhood handed out $500,000 price of DOGE. The group then tagged the CEO of Robinhood, Vlad Tenev, with the message “Now do BTC,” turning a meme coin drop right into a public dare aimed toward Tenev with Bitcoin as the following transfer.
What made it stick this time is that Tenev acknowledged the Bitcoin framing. His response is laconic, however it’s uncommon sufficient on this context that market fans interpret it as an acknowledgement that discuss of BTC is reaching him fairly than simply circulating within the crypto X group. This issues within the ultimate months of the 12 months, when everyone seems to be on the lookout for indicators that transcend a single giveaway.
Bitcoin also happens to be sitting at a level where narratives catch on easily. On the daily BTCUSDT chart, the price of the cryptocurrency is holding at around $87,989, with the mid-Bollinger line at around $88,565 acting as a key resistance level.
What’s up with Bitcoin price?
At the same time, the upper band is around $92,473 and the lower band is near $84,657. This defines the range, and the market is essentially waiting for a catalyst to determine its next move.
New Year does that. The calendar change brings in new positioning and fills up the social feed with talk of big numbers. A CEO being tagged to “do $BTC” is exactly the kind of low-effort spark that can make a sleepy $88,000 market feel like a story again.
