Bitcoin Market Analysis: December 24, 2024
Bitcoin (BTC) is currently trading at approximately $93,722, reflecting a 1.38% dip from the previous day. The market remains volatile, with an intraday high of $96,386 and a low of $92,414. Despite the recent decline, Bitcoin has surged over 100% year-to-date, driven by spot Bitcoin ETF approvals and optimism surrounding pro-crypto policies under President-elect Trump.
Institutional interest is robust, with entities like MicroStrategy increasing their holdings. However, the Federal Reserve’s cautious outlook for 2025 has tempered bullish sentiment. Analysts predict Bitcoin could reach $180,000 to $500,000 by 2025, depending on regulatory and market developments.
Overall, Bitcoin remains resilient, with long-term prospects bolstered by institutional backing and anticipated policy shifts.