Bitcoin ($BTC), the king of cryptocurrencies, has experienced its first significant weekly dip since Donald Trumpâs recent presidential victory, marking a 11% retracement from its all-time high (ATH) of $108,135 on December 17. The crypto market is buzzing with mixed emotionsâconcern over this correction and optimism for Bitcoin's long-term potential.
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đ What Happened?
After a relentless rally that saw BTC shatter records, negative news flows triggered a cooling-off period:
Weekly Decline: BTC closed the week ending December 22 at $94,645, down from $105,185âa $10,500 drop.
Fed's Hawkish Stance: The Federal Reserve reduced its planned 2025 rate cuts from five to two, signaling caution. Interest rates are expected to hover around 3.9%, which could weigh on risky assets like Bitcoin.
Reserve Speculations: Rumors surrounding Bitcoin reserves and profit-taking at record highs added fuel to the retracement.
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đĄ Market Sentiment
While this pullback might seem alarming, Bitcoin has been resilient:
Outperforming the Market: BTC closed six of the last seven weeks in the green, a testament to its bullish strength.
Trumpâs Crypto-Friendly Administration: With pro-crypto leaders like Scott Bessent and Howard Lutnick leading the Treasury and Commerce departments, the US governmentâs strategic interest in Bitcoin is clearer than ever.
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đ 2025 Outlook: $BTC to $200K?
Major asset managers and analysts remain bullish:
Predictions: BTC could soar to $180,000â$200,000 in 2025, driven by institutional adoption and strategic reserves.
Catalysts: The Trump administrationâs pro-crypto stance and favorable regulatory developments are setting the stage for a sustained rally.
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⥠Whatâs Next for Bitcoin?
Support Levels: $90,000 is a critical support zone to watch.
Resistance Targets: Reclaiming $100,000 could pave the way for another ATH.
Long-Term Growth: Despite short-term volatility, BTCâs fundamentals remain stronger than ever.
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