Bitcoin (BTC) is nearing the $100,000 mark after a substantial uptrend following Donald Trump's presidential victory over Kamala Harris. This event has boosted investor confidence and led to increased corporate adoption and ETF inflows.
Recently, Bitcoin's price corrected by 7% before regaining the $96,000 level. Analysts are questioning its ability to break the $100,000 barrier by year-end. Critical support is identified at the $92,700 level, crucial for maintaining the bullish trend.
Glassnode founders highlighted Bitcoin's resistance at $97,200 and potential retest of the support if not overcome. Crypto analyst Ali Martinez pointed to historical trends, suggesting a potential surge to $125,000-$140,000 by December's end, typical post-US elections.
Long-term holders' profit-taking as prices soared from $62,000 to $99,000 is common in bull markets and is not seen as a market trend shift. BTC trades at $96,500 currently.
