As of December 10, 2024, Bitcoin ($BTC ) is trading around $96,795 but has faced resistance at $99,588, which it needs to reclaim as support to target the psychological $100,000 level. Analysts believe that institutional demand, particularly via Bitcoin ETFs, could drive prices higher in the near term, with some projecting a rally towards $105,000 by year-end if conditions remain favorable.

Price Projections for December 2024:

Conservative Estimate: Bitcoin could consolidate between $94,782 and $101,273, reflecting historical patterns of modest December gains.

Bullish Scenario: If macroeconomic factors remain supportive, BTC may break above $100,000 and test $105,000 as the next resistance.

Bearish Risk: Increased selling pressure could see Bitcoin retrace to $88,986, invalidating bullish forecasts.

Key Factors Influencing BTC’s Price:

1. Institutional Demand: Bitcoin ETFs are attracting significant inflows, signaling increased institutional participation.

2. Market Accumulation: Whales continue accumulating BTC, with 63,922 BTC added in November, worth approximately $6 billion.

3. Macroeconomic Conditions: Reduced economic pressures and favorable liquidity conditions have contributed to recent price stability.

Future Outlook:

Analysts are optimistic about Bitcoin's medium to long-term potential. For 2025, projections suggest BTC could average around $97,808, with highs reaching $100,346 by December, as the next halving event and increasing adoption strengthen its fundamentals.

Investment Note:

While Bitcoin's trajectory seems bullish, the market remains volatile. Traders should exercise caution and diversify their portfolios to mitigate risks. Always consult with financial advisors before making investment decisions.