Bitcoin hits another good run, hitting new high of $108,000

The price of Bitcoin climbed again, breaking through the $108,000 mark in one fell swoop, showing strong market momentum. U.S. capital continues to pour in, and positions are frequently added at high levels. Generally speaking, they are optimistic about the market outlook. Although the increase is slightly lower than expected and technical indicators are already at high levels, the market generally believes that Bitcoin is expected to climb further to the $110,000 to $130,000 range.

During this period, market fluctuations in the range of $3,000 to $5,000 are considered reasonable, and there is an expectation to cover the gap of $102,000 to $105,000. Such levels of volatility are not uncommon for Bitcoin, but for altcoins, they may face more severe challenges.

Market Dynamic Analysis

Bitcoin’s new highs and altcoin gloom

The price of Bitcoin soared to $108,353. However, altcoins such as Ethereum (ETH), Solana (SOL), and Dogecoin (DOGE) performed poorly and even fell. Since the sharp market fluctuations on December 9, many small currencies have failed to recover and have failed to follow the footsteps of Bitcoin to reach new highs.

New projects emerge and the market has a significant blood-sucking effect

Recently, large exchanges have frequently launched new VC currencies, causing a large amount of market funds to be sucked away, and new market trends are often fierce and short-lived. Project parties attract investors through airdrops and other methods, such as MOVE, ME, ACX, etc., but they often face the risk of being trapped after buying. Therefore, it is recommended that investors treat these new currencies with caution and avoid blindly following the trend.

Washing market reappears

The current market conditions are similar to March 2024. First, the bulls were eliminated through violent fluctuations, and then the shorts were pushed up, and then entered a long period of shock. This may be a process of market washing, aimed at clearing out floating chips and high-leverage long forces to gain momentum for subsequent increases.

Falling is an opportunity

Bitcoin’s pullbacks are often good buying opportunities for investors. Every time Bitcoin drives altcoins down, it’s a good time to buy at the low. Investors should bravely face the decline and seize the opportunity to buy valuable currencies.