BTC Daily Market Update Original - Wild Grass - Little Grass Talks About Coins December 13, 2024 17:06 Fujian Bitcoin (BTC) Daily Market Analysis: 1. Price Dynamics: • Today's Bitcoin price is 100,139.140, approximately ¥724,005.982, with data updated at 2024-12-13 08:55:13. • The 24-hour fluctuation is -0.49%, with a 24-hour trading volume reaching 55.149 billion, a market cap of 1.98 trillion, and a circulating supply of 19,793,100 BTC, with a maximum supply of 21,000,000 BTC. 2. Market Trends: • Recently, the price of Bitcoin broke through $70,000, with short positions being liquidated exceeding $100 million, and the funding rate remaining relatively neutral, possibly due to the uncertainty of the U.S. elections. • Over the past month, BTC has shown an upward trend, despite some downward corrections, most liquidations targeted short BTC traders. • The continuous rise of U.S. federal debt and persistent inflation indicated by the CPI has enhanced Bitcoin's appeal as a hedging tool, and it is expected that Bitcoin will continue its upward trend. 3. Technical Analysis: • The price trend of Bitcoin is forming a “symmetrical triangle pattern,” which may indicate the possibility of breaking through 100,000. • The price trend is about to close at historical highs on the daily, weekly, and monthly charts, which is very bullish across all these time frames. 4. Short-term Forecast: • It is expected that Bitcoin's price will undergo a bearish correction and test the support area around 92,505, after which a rebound and continued growth are anticipated, with a target above 123,605. 5. Market Sentiment: • Despite the short-term uncertainty brought by the U.S. elections, the market expects significant volatility in the coming weeks, and once any directional impulse fades, the derivatives market is expected to stabilize again. In summary, Bitcoin shows some volatility in today’s daily market, but the overall trend remains upward. Market participants should pay attention to the potential impact of the U.S. election results and macroeconomic data on Bitcoin prices and closely monitor the support levels 101,800 103,800 and resistance levels 98,700 95,700. Please note that the cryptocurrency market is highly risky and volatile; the above analysis is for reference only, and investment decisions should be made with caution.