BITCOIN REVIEW NOW
As of December 21, 2024, Bitcoin (BTC) is trading at approximately $98,702, reflecting a 1.81% increase from the previous close.
Earlier this month, Bitcoin surpassed the $100,000 milestone, driven by optimism surrounding President-elect Donald Trump's pro-crypto stance and plans to establish a Strategic Bitcoin Reserve.
However, recent market volatility has led to a decline from these highs. The cryptocurrency experienced a significant drop, falling from over $105,000 to below $96,000, a decline of more than 15%. This downturn was influenced by rising Treasury yields following the Federal Reserve's meeting, which impacted investor sentiment.
Despite this correction, Bitcoin maintains a year-to-date increase of over 120%, supported by high trading volumes and the introduction of spot ETFs.
Analysts suggest that the recent price movements may indicate a consolidation phase, with potential support around the 50-day Exponential Moving Average (EMA). This could attract buyers looking to capitalize on lower prices.
In summary, while Bitcoin has experienced short-term volatility, its long-term growth trajectory remains positive, bolstered by increasing institutional adoption and favorable regulatory developments.
