#ReboundRally 2024: Market Watch

Bitcoin is experiencing a historic period in December 2024. After hitting a new all-time high of over $100,000 earlier this month, the digital currency is currently trading around $95,800–98,000, reflecting a consolidation phase. This stability is supported by recent gains in the altcoin market and optimism surrounding changes in global financial policy.

Key Factors:

1. Global Economic Policies: The anticipation of a rate cut by the US Federal Reserve soon could encourage investment in riskier assets, including cryptocurrencies.

2. Institutional Adoption: The nomination of a crypto advocate to head the US SEC has brought a wave of optimism to the industry, which has supported BTC’s rise.

What to Expect:

• If BTC breaks above the $97,000 resistance level, it could reach the psychological $105,000 mark by the end of the month.

• In the event of a decline, key support is around $92,000 and $89,000, protecting the market from larger swings.

The future of Bitcoin is promising, but volatility remains a central feature of the crypto market. Investors should closely monitor macroeconomic trends and political developments to make informed decisions.