Bitcoin's price recently crossed above the significant $100,000 mark but quickly faced a rejection, leading to a correction down to $94,000. Despite this setback, analysts predict a bullish future for Bitcoin, with expectations of the price climbing well above $100,000 by the end of December 2024.
Record liquidations have shaken the market, with December 5, 2024, seeing $1.1 billion in liquidations, the highest ever recorded. This included significant liquidations in both long and short positions, although the overall Bitcoin uptrend is expected to remain intact.
The Fear and Greed Index, a gauge of market sentiment, has shifted into the 'extreme greed' zone, revealing optimistic investor outlooks despite recent price volatility. Analysts also predict another potential downward trend before a full market recovery, with Bitcoin possibly dipping to $84,000-$85,000.
A Federal Reserve rate cut is anticipated during the next FOMC meeting, which could provide further positive momentum for Bitcoin's price recovery. The potential consequences of such monetary policies are noted as an important factor for future price developments.
Despite short-term fluctuations, Bitcoin whales have continued to accumulate, adding 20,000 BTC in recent days, valued at $2 billion. At the time of writing, Bitcoin is approaching the $100,000 mark once again.
