#Rebound failed? Can Bitcoin still close above $100,000 this year?
As of December 27, 2024, there is great uncertainty that Bitcoin will close above $100,000.
Unfavorable factors
- Recent price trends are not good: Bitcoin fell after hitting a record high of $108,316 on December 17. As of December 27 before the European session, it was running around $96,200 and faced the risk of closing down in December, which would be its first monthly decline in more than four months.
- Significant capital outflow: In the four trading days ending December 24, investors withdrew a net of $1.5 billion from more than a dozen US spot Bitcoin ETFs, the largest capital outflow since Trump won the US election on November 5, indicating that investors' confidence in Bitcoin and willingness to invest have declined.
- Impact of option contract expiration: A large number of Bitcoin and Ethereum option contracts expired on December 27, which is one of the largest option expirations in the history of digital assets. According to Deribit Exchange, more than $4 billion of contracts will expire, which may trigger sharp market fluctuations and further affect Bitcoin price trends.
- Cautious market sentiment: Although MicroStrategy hinted this week that it may expand its Bitcoin purchase plan, Bitcoin bulls are still hesitant. In addition, traders are also cashing in on some of the profits triggered by Republican optimism about cryptocurrencies, and the overall market sentiment is cautious.
Favorable factors
- Trump policy expectations: Trump is advancing his commitment to create a cryptocurrency-friendly environment in the United States and supports the idea of establishing a national Bitcoin reserve. If these policies are implemented, they may provide strong support for Bitcoin prices.
- Long-term holding trend: There is a view that institutional investors have begun to adopt a long-term holding strategy, which shows strong confidence in the future potential of Bitcoin. If this trend continues, Bitcoin is expected to hit new highs by the end of 2024 and 2025#BTC #BTC走势分析 $BTC