Bitcoin experienced a rollercoaster ride on Dec. 17, hitting new all-time highs before plummeting over $2,000 in minutes. The swift drop brought BTC/USD back near its daily opening price of around $106,000. Onchain data from Whalemap highlighted significant whale accumulation at $98,133, suggesting potential support levels.

Despite the volatility, some traders remain optimistic about Bitcoin's long-term prospects, with expectations of higher prices over the next few months. However, analysts warn that historical patterns could signal a deeper correction, urging caution as the market navigates these turbulent waters.