by Penny Angeles-Tan | Jan 10, 2025 | Food & Beverage
The Manila Hotel’s Champagne Room offers a unique culinary experience, transporting guests to the historical Saga Prefecture in Japan through an exceptional six-course dinner, masterfully prepared by The Manila Hotel’s esteemed Japanese Chef Oseki Nobu and paired with a curated selection of Yamazakura Japanese Whisky, chosen by renowned whisky expert Mr. Johnssen Li.
Scheduled for January 16, 2025, at the iconic Champagne Room, this elegant evening promises a harmonious blend of flavors, combining the unparalleled quality of Saga Wagyu with the nuanced profiles of premium Japanese whisky.
The Culinary Experience
Chef Oseki Nobu has designed a six-course menu that highlights the distinctive qualities of Saga Wagyu, known for its exquisite marbling, tenderness, and delicate flavor. The menu includes Saga Tataki with Watercress Ohitashi, Thinly Sliced Saga in Beef Consommé, Sesame Tofu in Saga Beef Roll, Pan-seared Saga on Mushroom Risotto, Saga Beef with Black Garlic Sauce, Panna Cotta with Plum Wine Jelly, and Saga Beef Jerky in Dark Chocolate.
Each whisky has been meticulously selected by Mr. Johnsson Li of Grand Cru Wines and Spirits, known for its fine quality and international acclaim, to enhance the dining experience of our guests.
This one-night-only event is a rare opportunity to savor the finest Japanese beef alongside premium whisky in the elegant setting of The Manila Hotel’s Champagne Room. With limited seats available, priced at Php 11,625 net per person, we encourage you to secure your reservation at your earliest convenience. Standard discount tiering applies for Prestige cardholders.
This event is presented in partnership with Saga-Gyu and Mayon Consolidated Inc.
For inquiries and reservations, call +632 85270011 or +632 53015500 or send an email to re************@************el.com.
The Manila Hotel is located beside kilometer zero (0), where the City of Manila begins, and is within walking distance from the Philippines’ known landmarks: Rizal Park, Intramuros, and National Museums. Defined by its history, elegance, and world-class service, The Manila Hotel is the choice hotel for the most distinguished clientele.
Since 1912, The Manila Hotel has continuously provided the best services and amenities for a truly memorable experience. It has more than 500 well-appointed rooms and 22 function rooms, including three (3) ballrooms. Apart from these, the hotel offers five-star relaxation and wellness experiences with the Manila Hotel Spa, adult and children’s pools, and the Manila Hotel Health Club. The hotel is home to the Heritage Museum, a treasure trove of priceless memories that narrate its illustrious past.
It also has an Art Gallery that offers a window into a contemporary world, captured through the objective point of view of different artists. It has six (6) dining outlets, each offering a unique culinary adventure: Café Ilang-Ilang, which is a favorite spot for its extensive selection of International buffet delights; Champagne Room with its Old European style fine dining and also hailed as the most romantic room in Manila — it features European cuisine in a posh, fine-dining setting; Tap Room, an Old English pub-inspired outlet where one can enjoy an evening of live music; Lobby Lounge which is ideal for casual dining, aperitif, post-dinner nightcaps, or leisure meetings; Red Jade, a fine dining restaurant that serves authentic Chinese cuisine; and Delicatessen that offers the hotel’s signature pastries, bread, chocolates, and pralines.
by Penny Angeles-Tan | Dec 28, 2024 | Business
Explore Bitcoin’s price trends as it hovers below $95,000. Analysts weigh in on a potential correction to $60,000 or a bullish surge beyond $110,000, with key indicators and market insights shaping the cryptocurrency’s future trajectory.
As Bitcoin hovers below $95,000 after two weeks of declining prices, analysts express growing concern about the cryptocurrency’s future trajectory. While the flagship digital asset has shown resilience in past cycles, market dynamics suggest a potential correction to $60,000 is not off the table.
Here’s a comprehensive analysis of Bitcoin’s current state, the bearish and bullish outlooks, and what it could mean for the broader cryptocurrency market.
Current Market Performance
Bitcoin has dropped 1.45% in the past 24 hours, hitting an intraday low of $95,134. This extends its fortnight losses to 3.7%, with the market capitalization falling to $1.9 billion.
Despite efforts by bulls to defend the critical $95,000 support level, market sentiment remains cautious as analysts highlight the risk of a deeper correction.
Key Indicators:
1. On-Chain Activity: Over 33,000 BTC, valued at $3.23 billion, were transferred to exchanges in the past week, signaling potential sell pressure.
2. Profit-Taking: On December 23, Bitcoin holders realized $7.17 billion in profits, a strong indicator of declining confidence.
3. Long Positions: The percentage of long-position traders dropped significantly, from 66.73% to 53.6%, reflecting waning bullish sentiment.
Bearish Outlook: Potential for a Massive Drop
Several market experts warn that failure to hold the $95,000 support level could result in Bitcoin’s price plummeting to $60,000 or lower.
Key Predictions:
1. Ali Martinez
- Highlights a critical support range between $93,806 and $97,041.
- Predicts a drop to $70,085 if this zone fails to hold.
2. Peter Brandt
Cites a bearish “broadening triangle” pattern, indicating a potential fall to $70,000.
3. Benjamin Cohen and Mark Newton
Suggest Bitcoin could drop to $60,000, especially around significant events such as Donald Trump’s inauguration on January 19.
4. Jesse Olsen
Predicts a 30% pullback, citing historical patterns tied to the MACD bearish crossover. Targets include $92,000, $85,000, and $70,000.
Contributing Factors:
- Holiday season liquidity constraints.
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Increased volatility from the expiration of $14.2 billion in Bitcoin options.
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Reduced institutional activity, leaving retail investors to steer the market.
Bullish Case: A Temporary Setback
Not all analysts are pessimistic. Some argue that Bitcoin’s current correction is necessary to consolidate before the next upward rally.
Optimistic Predictions:
1. Titan of Crypto
- Reaffirms a long-term bullish target of $110,000.
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Views the current correction as a precursor to the next bullish wave.
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Considers $87,000 as the “maximum pain” threshold to maintain bullish momentum.
2. Georgii Verbitskii
3. Sentiment Report
Notes increased stablecoin movement to exchanges by whales, which could indicate the impending large-scale of BTC’s buying activity.
4. Technical Patterns
Other Market Trends
Bitcoin isn’t the only cryptocurrency facing turbulence. Ether (ETH) dropped 2.3% in the past 24 hours, trading at $3,375 globally and $3,658 on Indian platforms. Other major cryptocurrencies, including Ripple, Binance Coin, and Solana, also recorded losses.
Expert Insights:
– Edul Patel (Mudrex CEO): Notes reduced institutional activity and anticipates retail-driven volatility.
– Avinash Shekhar (Pi42 CEO): Emphasizes caution, highlighting Bitcoin’s history of strong rebounds.
What’s Next for Bitcoin?
As Bitcoin navigates this critical juncture, market participants should closely monitor key support and resistance levels.
The $93,806-$97,041 range remains pivotal. A sustained break below this zone could accelerate the drop to $70,000 or lower, while a rebound above $95,000 might rekindle bullish sentiment.
Investor Strategies:
– Short-Term Traders: Consider hedging positions or reducing exposure during periods of heightened volatility.
– Long-Term Holders: Use potential dips as buying opportunities, keeping an eye on macroeconomic trends and institutional activity.
Conclusion
Bitcoin’s current correction phase underscores the cryptocurrency market’s inherent volatility. While a significant price pullback appears likely in the short term, the long-term outlook remains bullish, driven by institutional interest and robust market fundamentals. Investors should always remain vigilant and prioritize risk management in this dynamic environment.
This Press Release has also been published on VRITIMES
by Penny Angeles-Tan | Dec 26, 2024 | Business
Explore 7 key factors shaping Ethereum’s price in 2025. This in-depth analysis examines whale accumulation, institutional investment, market trends, and upcoming upgrades, providing insights into potential price targets and market outlook for ETH.
The Ethereum (ETH) market is demonstrating strong signals of potential growth, driven by whale accumulation, institutional interest, and technological advancements.
This comprehensive analysis explores the critical factors shaping Ethereum’s trajectory and outlines predictions for the future.
1. Whale Accumulation: A Bullish Signal
The number of Ethereum whales—wallets holding at least 1,000 ETH—has reached its highest level since September, currently standing at 5,631. This increase from 5,565 on November 26 signifies renewed confidence among large investors.
Whale activity often acts as a leading indicator for market trends due to the substantial influence these holders exert on price stability and upward momentum.
Key Implications:
– Accumulation as Confidence: The rise in whale holdings suggests bullish sentiment, as major players position themselves for anticipated price gains.
– Price Impact: Accumulation could support price stability and fuel upward momentum, providing a foundation for Ethereum’s strength in the coming months.
2. Current Price Trends and Resistance Levels
Ethereum’s resistance at $3,523 is pivotal for its short-term price movements. Breaking this level could pave the way for testing $3,763 and eventually $4,100, signaling a continuation of the uptrend.
Conversely, failure to break $3,523 could result in a pullback to key support levels at $3,256 or even $3,096.
Historical Context:
- The $4,000 resistance zone has consistently acted as a psychological barrier, halting bullish advances over the past year.
- Previous rejections at $4,000 triggered sell-offs and liquidations, highlighting the significance of this threshold in shaping market sentiment.
Current Outlook:
- Ethereum is consolidating within the $3,500–$4,000 range. This phase of stabilization could precede another bullish attempt to retest the $4,000 resistance.
3. Market Momentum and Indicators
The Directional Movement Index (DMI) reveals a weakening uptrend, with the Average Directional Index (ADX) dropping from 46 to 27 in just two days.
Despite reduced momentum, the positive directional indicator (D+) at 21.1 remains higher than the negative directional indicator (D-) at 16, signaling sustained buying pressure.
ADX Analysis:
- Strength of Trend: An ADX value of 27 indicates a moderately strong trend. While the decline suggests reduced momentum, it also hints at market consolidation, potentially setting the stage for a renewed rally.
4. Whale Activity and Selling Pressure
Recent whale transactions have contributed to market fluctuations:
– Nexo-related transactions: Over 114,262 ETH ($423.3M) deposited into Binance since December 2.
– Profit-taking behavior: A whale deposited 22,740 ETH ($77.7M) earlier this month, cashing out $137.8M in stablecoins.
Implications:
5. Institutional Interest: A Growing Catalyst
Institutional adoption of Ethereum is accelerating, with ETF inflows highlighting its appeal:
– December 23 data: Bitcoin ETFs saw outflows of $226.5M, while Ethereum ETFs attracted $130.8M in fresh investments.
– Leading ETFs: BlackRock’s ETHA led inflows with $89.51M, followed by Fidelity’s FESH at $46.37M.
Expert Predictions:
Analyst Matt Houghan projects Ethereum could reach $7,000 by 2025, supported by increasing institutional confidence and technological advancements.
6. Fundamental Catalysts for Growth
Several key factors are poised to drive Ethereum’s growth in 2025:
a. Technical Upgrades
The Pectra upgrade, scheduled for early 2025, aims to enhance Ethereum’s scalability and security by increasing validator capacity from 32 ETH to 2,048 ETH. This upgrade is expected to:
b. Regulatory Tailwinds
A favorable regulatory environment, including a potential pro-crypto shift in U.S. leadership, could reduce legal hurdles and foster innovation within Ethereum’s ecosystem.
c. Ecosystem Expansion
Ethereum’s role in key crypto trends—stablecoin growth, asset tokenization, and AI integration—positions it as a cornerstone of blockchain innovation. Layer-2 expansions and partnerships with major institutions further solidify its standing.
7. Price Projections and Market Outlook
Rising from $2,350 to $3,478 year-to-date, Ethereum has gained 53.5%. While this lags behind some rivals, analysts view it as a buildup for a significant breakout.
a. Short-Term Targets:
b. Long-Term Vision:
Surpassing the $4,000 resistance could trigger a rally toward $7,000 by 2025, driven by institutional adoption and ecosystem growth.
Conclusion
Ethereum is at a pivotal juncture, with whale accumulation, institutional interest, and upcoming technical upgrades laying the groundwork for potential growth. While short-term challenges persist, the long-term outlook for ETH appears increasingly bullish.
As the second-largest cryptocurrency continues to innovate and attract significant investment, Ethereum may well become the “comeback kid” of 2025, surpassing its all-time highs and solidifying its position as a leader in the blockchain space.
This Press Release has also been published on VRITIMES
by Penny Angeles-Tan | Dec 26, 2024 | Business
Explore Solana’s price outlook and potential for reaching $500 in 2025. This analysis delves into current market trends, on-chain fundamentals, macroeconomic factors, and technical analysis to assess SOL’s future trajectory.
The cryptocurrency market has seen significant activity around Solana (SOL), particularly as it attempts to stage a recovery during the holiday season. SOL’s performance, coupled with macroeconomic and on-chain fundamentals, paints a nuanced picture of its short-term and long-term potential.
Current Market Trends: Solana’s Modest Rebound
As of Christmas Day 2024, Solana’s price is making a modest recovery, trading just below the critical $200 mark. The asset has rebounded by 13% from its multi-week lows around $175, yet it remains significantly lower than its recent peak in the $260s.
However, despite the recent uptick, SOL is still trapped in a broader downtrend. Both the 21-day and 50-day moving averages (DMAs) suggest persistent bearish momentum, with analysts emphasizing that a meaningful break above $220 is necessary to confirm a trend reversal.
At the time of writing this article on December 26, 2024, Solana is trading at $193.29 with a decrease of -2.51%. The RSI value is below 50 which means the selling trend is higher than the buying trend.
Impact of Macroeconomic Factors
The Federal Reserve’s hawkish policy stance, signaling only two interest rate cuts in 2025, has dampened confidence in risk assets, including cryptocurrencies.
However, bullish indicators, such as the continued strength of the U.S. economy and the incoming pro-crypto Trump administration, provide a counterbalance.
This favorable regulatory and macroeconomic environment could usher in a “golden age” for the U.S. crypto industry, potentially driving renewed investor interest in assets like Solana.
Why Solana Could Retest $260 and Beyond
Solana, despite recent market volatility, exhibits strong on-chain fundamentals and presents a compelling case for a potential retest of $260 and beyond.
Robust network activity, indicated by rising trading volumes and transaction counts, coupled with a relatively low market capitalization compared to Ethereum, suggests significant room for growth.
While a direct comparison to Ethereum is unlikely, analysts predict a substantial price appreciation driven by Solana’s scalability advantages and increasing adoption within the DeFi and NFT sectors.
1. Strengthening On-Chain Fundamentals
Solana’s blockchain metrics remain robust, with trading volumes, transaction counts, and Total Value Locked (TVL) showing strong upward trends, according to DeFi Llama.
These indicators highlight increasing network usage, which could support future price gains.
Solana’s market cap of $94 billion, about 25% of Ethereum’s, suggests ample room for growth. While it is unlikely to surpass Ethereum this cycle, analysts predict a potential 4-5x increase from current levels, driven by Solana’s exceptional scalability and growing adoption in decentralized finance (DeFi) and non-fungible tokens (NFTs).
2. Short-Term Technical Analysis
Key Levels to Watch
– Support: $173.42 (61.8% Fibonacci level) has emerged as a critical base for SOL. If this level holds, it could signal the end of a corrective phase and the start of a bullish reversal.
– Immediate Resistance: $193.20 (50% Fibonacci level) serves as the first hurdle for upward momentum.
– Higher Resistance: $209.93 (38.2% Fibonacci) and $230.64 (23.6%) are subsequent levels to watch for a sustained breakout.
- Downside Target: Failure to hold the $173 support could push SOL toward the $152.65 level (78.6% Fibonacci).
3. Elliott Wave Analysis
Solana appears to be in the final stages of a corrective W-X-Y wave structure. A bullish reversal is plausible if the “C” wave concludes near the $173 support zone. A successful rebound could target $230 and potentially set the stage for higher highs.
Long-Term Price Outlook: Could Solana Reach $500?
Despite current struggles, many analysts remain optimistic about Solana’s future. As the crypto market transitions to a new cycle in 2025, several factors could propel SOL toward the ambitious $500 mark:
1. Pro-Crypto Regulatory Shift: The incoming U.S. administration is expected to create a favorable environment for blockchain innovation, benefitting major projects like Solana.
2. Ecosystem Expansion: Solana continues to attract new projects, enriching its ecosystem with advanced decentralized applications, tokenization initiatives, and cutting-edge solutions.
3. Bull Market Potential: Historical patterns suggest that Solana, like other major cryptocurrencies, has yet to enter the most explosive phase of its bull market, with significant upside remaining.
Risks and Challenges
1. Low Trading Volume: Recent declines in trading activity signal reduced investor confidence, potentially hindering price recovery.
2. Macroeconomic Uncertainty: Continued Fed hawkishness and other global economic factors could limit risk appetite for speculative assets.
Conclusion
Solana’s price action reflects a market in flux, caught between bearish trends and bullish fundamentals. While the short-term outlook suggests consolidation, the long-term narrative remains promising, driven by strong on-chain activity, ecosystem growth, and favorable macroeconomic shifts.
If Solana can break key resistance levels and sustain momentum, a retest of $260 appears likely, with the $500 target in 2025 firmly within reach.
This Press Release has also been published on VRITIMES
by Penny Angeles-Tan | Dec 26, 2024 | Business
Discover Bitcoin’s remarkable 2024 journey, with a 131.5% YtD surge and key events like ETF approvals, halving, Trump’s pro-crypto win, and Fed rate cuts. Explore market trends, challenges, and future forecasts, including Tom Lee’s bold $250K prediction for 2025.
Bitcoin (BTC) experienced a rollercoaster year in 2024, marked by significant price fluctuations, groundbreaking events, and renewed optimism among investors. By December 25, Bitcoin closed at $98,429, representing a 131.5% year-to-date (YtD) increase compared to its closing price of $42,505 at the end of 2023.
Let’s delve into the factors driving Bitcoin’s performance and its potential trajectory.
Price Highlights and Market Capitalization
Bitcoin began 2024 on a challenging note, hitting its lowest price of $39,179 in mid-January. From this low, it soared 171.6% to reach its all-time high of $106,415 on December 17.
On December 18, Bitcoin’s market capitalization surged to $2.1 trillion, elevating it to the seventh-largest asset globally, surpassing major companies like Saudi Aramco, Meta Platforms, and Tesla.
At the time of writing this article on December 26, BTC is at $98,687 with a gain of 0.44%. A price that is not too encouraging because BTC’s price is predicted to touch $100,000 again on Christmas Eve.
Four Key Events Driving Bitcoin’s Performance
Bitcoin has 4 major events happening during 2024 that will cause the token to surge in price today.
1. Approval of Bitcoin Spot ETFs in January
The U.S. Securities and Exchange Commission (SEC) approved 11 Bitcoin Spot Exchange-Traded Funds (ETFs), including offerings from BlackRock, Fidelity, and ARK Invest.
These ETFs allow traditional investors to gain exposure to Bitcoin without directly holding the asset. The approval attracted an inflow of $35.47 billion into Bitcoin Spot ETFs by December 24, pushing Bitcoin to $73,000 shortly after the announcement.
2. Bitcoin Halving in April
On April 20, Bitcoin underwent its fourth halving, reducing the mining reward from 6.25 BTC to 3.125 BTC. Historically, halvings have triggered long-term price increases due to reduced supply.
While Bitcoin’s price consolidated between $63,000 and $64,000 immediately post-halving, it aligned with historical patterns, which often see significant price growth within six months to a year after such events.
3. Trump’s Pro-Crypto Presidential Victory in November
Donald Trump’s re-election as U.S. President on November 6 was celebrated by the crypto community.
His pro-crypto stance, including promises to make the U.S. the “crypto capital of the world,” boosted Bitcoin’s price by 10%, reaching $75,984. Trump’s policies are expected to foster a more favorable regulatory environment for cryptocurrencies.
4. Federal Reserve’s Interest Rate Cuts
Throughout 2024, the Federal Reserve cut interest rates by 100 basis points, including reductions of 50 bps in September and 25 bps each in November and December.
Lower interest rates typically benefit risk assets like Bitcoin by encouraging capital flow away from bonds and into alternative investments.
Market Dynamics and Challenges
Just like other crypto tokens, BTC also experiences price movements that go up and down. Here’s how BTC’s price dynamics will be throughout 2024.
1. Derivatives and Margin Markets
Despite significant price volatility, Bitcoin’s derivatives market maintained a neutral-to-bullish stance. Futures contracts traded at a robust 12% premium, reflecting strong demand for leveraged long positions.
Meanwhile, Bitcoin’s margin markets showed a 25x long-to-short ratio, indicating sustained bullish sentiment.
2. Whale Activity and Sell-Side Pressure
On-chain data revealed increased sell-side pressure from large investors during market downturns. The average Bitcoin transaction size peaked at $306,100 in December, the highest in two years, often signaling intensified sell-offs.
This behavior, combined with market uncertainty, poses short-term risks to Bitcoin’s price stability.
Bitcoin’s Future Prospects
So, what is the future of BTC? Here is an explanation that you can read.
1. Support and Resistance Levels
As of December 25, Bitcoin’s key support level stands at $90,500. Breaching this level could lead to further declines, with $88,000 as the next major support.
Conversely, breaking above the $99,426 resistance could signal a bullish recovery, potentially paving the way for a retest of the $108,353 high.
2. Tom Lee’s Prediction
Prominent analyst Tom Lee predicts Bitcoin could reach $250,000 by 2025, citing a friendlier regulatory landscape and increased adoption. He also highlights Bitcoin’s potential role as a Treasury reserve asset, which could significantly bolster its value.
Conclusion
Bitcoin’s performance in 2024 underscores its resilience and adaptability amid macroeconomic and geopolitical shifts. While challenges remain, such as heightened whale activity and economic uncertainty, the asset’s growing institutional adoption and favorable regulatory developments paint an optimistic picture for 2025 and beyond.
Investors and enthusiasts alike should keep a close watch on market trends, support levels, and policy shifts as Bitcoin continues its journey as a transformative global asset.
This Press Release has also been published on VRITIMES
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