Bitcoin price today is up 0.20% and trades at $95,700, down 11.29% from its all-time high of $108,421.6. With the 2024 year coming to an end, let’s explore whether BTC price will hit $100K again in 2024.

Will Bitcoin Price End 2024 Positively?

With the Fed’s hawkish comments after the FOMC meeting, Bitcoin price crashed from its ATH of $108,421.6 and dropped 14.93%. This collapse set up a local bottom at $92,230 on December 20 and has since lacked directional bias.

Crypto markets did not experience a Santa Claus rally as many expected. As a result, December’s monthly gains hover around 0.60% at the time of writing. Although it is uncertain if December might end on a positive note, 2024 gains stand tall at 129% for BTC.

BTC/USDT 1-hour chart

With no major macroeconomic events until January 9 and holidays around the corner, BTC prices could experience an uptick in volatility. The recent supposed sale of nearly $1.8B worth of BTC from investment firm BlackRock adds credence to heightened volatility.

Alex Krüger, Founder of Aike Capital, noted, “I’m bullish on Bitcoin’s price for the remainder of 2024. The recent whale accumulation and improving technical indicators suggest a potential year-end rally.”

Bloomberg’s Senior Commodity Strategist, Mike McGlone added that although Bitcoin price has been consolidating in recent weeks, he expects a “breakout above $100,000 before the end of 2024”, citing “strong fundamentals” and a “rise in institutional investment.”

So, to conclude, there is a high chance Bitcoin price will revisit $100K before 2024 ends, especially due to low liquidity and high volatility, which leaves BTC at the behest of high-net-worth investors and institutions. Additionally, Bitcoin will end 2024 on a positive note due to the 129% year-to-date gains.

Bitcoin Whales Accumulate BTC On Dips

According to on-chain data provider Santiment, whales transaction count that tracks transfers worth $100,000 or more. This index spiked during the recent 15% crash from ATH, denoting accumulation during the dips.

BTC Whale Transaction Count

This positive development for BTC suggests that the year-end could see a rally to the upside soon. As mentioned above, the lack of liquidity or volume could help thrust Bitcoin higher, especially to the $100K level.