#MarketRebound
As of December 24, 2024, Bitcoin (BTC) is trading at approximately $94,145, down 2.14% from the previous close. The intraday high was $96,202, and the low was $92,414, reflecting increased market volatility.
Bitcoin's price more than doubled in 2024, driven by factors like growing interest in spot Bitcoin ETFs, a supply-reducing halving event, and expectations of pro-crypto policies following Donald Trump’s reelection. However, recent Federal Reserve signals of a slower pace of interest rate cuts in 2025 have tempered market enthusiasm, as higher rates often weigh on cryptocurrency valuations.
Technical analysis shows that Bitcoin has pulled back to the 50-day simple moving average ($93,383), suggesting bearish pressure. The 20-day EMA ($98,206) is trending down, and the RSI is below 42, indicating a slight bearish edge. A break below the 50-day SMA could see Bitcoin decline to $90,000 or even $85,000. Conversely, breaking above the 20-day EMA could enable a retest of its all-time high of $108,353.
Despite short-term uncertainty, analysts remain optimistic about Bitcoin’s long-term trajectory. Projections for 2025 range from $180,000 to $500,000, underpinned by increasing institutional adoption and potential strategic government reserves. Investors should prepare for significant price fluctuations ahead.
