Bitcoin surged by $3,000 in just a few hours, market sentiment rebounds

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Bitcoin (BTC) suddenly rose over $3,000 in just a few hours, breaking concerns about an impending bear market. Earlier, Bitcoin had fallen to $91,315 on the Bitstamp exchange, marking its lowest point since November 26. This price drop sparked speculation about whether the Bitcoin bull market had come to an end.

However, market sentiment quickly rebounded, and Bitcoin successfully trimmed its losses and turned green in the short term, indicating that the market adjustment may only be temporary. According to CoinGlass data, nearly $40 million in short positions were liquidated in the past 24 hours, but the losses for longs were more severe.

Although Bitcoin is still 12.9% away from the all-time high set earlier this month, this rebound has injected a glimmer of hope into the weak market, bringing optimism.

2025 Market Outlook

According to analysts, while some are concerned about Bitcoin's upward momentum, the market generally believes that Bitcoin will continue to perform strongly in 2025:

Galaxy Digital predicts that Bitcoin could reach $150,000 in the first quarter of 2025.

Fundstrat's Tom Lee expects Bitcoin to hit $250,000 in 2025.

Currently, Bitcoin is trading close to $95,000, and the market's recovery along with these optimistic expectations has given new momentum to cryptocurrencies.

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