Bitcoin (BTC) Price Analysis
Bitcoin (BTC) has seen quite a slump since it hit its new all-time high of $108,268. Since then, BTC has slipped below $100,000 and has struggled to regain momentum and resume its upward trajectory. BTC has failed to reclaim the $100,000, going below it on Thursday (December 19). Sellers dragged the price lower on Friday as it dipped to an intraday low of $92,072.
However, it recovered from this level to register a marginal increase and settle at $98,124. Buyers attempted a recovery on Saturday as the price rose to an intraday high of $99,942. However, BTC lost momentum at this level and dropped by 0.63% to $97,505. Bearish sentiment intensified on Sunday as BTC registered a drop of 2.26% to end the weekend at $95,303.
BTC began the previous week in the red, registering a marginal drop to go below $95,000 and settling at $94,830. However, it made a strong recovery on Tuesday, rising just over 4% and moving to $98,677. Buyers retained control on Wednesday, and BTC rose by 0.74% to settle at $99,409.
However, it could not push above the $100,000 level as sellers took over, driving BTC down almost 4% on Thursday to $95,691. Buyers attempted to mount a recovery and prevent a drop below $95,000. However, they were unsuccessful, as BTC dropped by 1.52% and settled at $94,241.
The weekend began with a recovery as BTC registered an increase of 0.89% and settled at $95,077. However, the recovery was short-lived as BTC returned to the red on Sunday, dropping almost 2% and settling at $93,475.
The current session sees BTC marginally down as sellers look to drive it down to $90,000. If sellers maintain control, BTC could dip to $90,000 before recovering. However, if buyers can regain control, BTC will look to reclaim $95,000 and push on towards the $100,000 level.
