BTC, ETH, XMR, XEM, AAVE

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December is proving to be another blockbuster month for Bitcoin as the influx of institutional investors investing in Bitcoin continues to grow.

Business intelligence firm MicroStrategy announced that it had raised $ 650 million worth of convertible bonds at 0.75% in 2025. The company now plans to invest the net proceeds in Bitcoin after determining its “working capital needs and other general corporate purposes”.

With institutional investors showing such a huge appetite for buying Bitcoin (BTC) near its all-time high, it’s no surprise that the corrections have been minor.

Tyler Winklevoss said in a recent interview with CNBC that institutional investors are concerned about “oncoming inflation and the scourge of inflation with all the money pressures and incentives of the COVID pandemic lockdown”. Hence, they put money into Bitcoin.

Day view of crypto market data. Source: Coin360

Today, Bitcoin price surged back above the $ 19,000 level and could call into question the $ 20,000 psychological resistance. If this level is broken with conviction, it can lead to FOMO in retailers as many did not participate in the current rally.

If money flows in from retail investors as well, Bitcoin could gain momentum and begin the next leg of the uptrend.

In addition to Bitcoin, there are some altcoins that can join the uptrend next week. Let’s examine the top 5 cryptocurrency charts to identify the critical levels of support and resistance to watch out for.