#ReboundRally What an unexpected rally on Christmas day! BTC rallies all the way to 99K, almost touching that legendary 💯. Although its a healthy sign, I expect it to return to its 90K-ish numbers in the upcoming days. Inauguration is still far away. Let's see 😉

#MarketRebound #MarketRebound As of December 24, 2024, the cryptocurrency market is experiencing significant developments. Bitcoin has reached an unprecedented milestone, surpassing $100,000 for the first time. This surge is largely attributed to President-elect Donald Trump's pro-crypto stance, including proposals to establish a strategic Bitcoin reserve. This bullish trend has positively impacted other cryptocurrencies, with Ethereum and Binance Coin also experiencing substantial gains. The market's growth is further supported by increased institutional adoption, exemplified by the approval of Bitcoin ETFs in the U.S. However, experts advise caution due to the inherent volatility of the crypto market and the potential for regulatory changes.

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$BTC Bitcoin now looks extremely bullish. In the last five days alone, it has grown by approximately 6.44%. There are enough reasons to believe that buyers are pushing the price upwards strongly.
A technical analyst, Gert van Lagen, in his recent X post, predicts that the Bitcoin market could surpass the $200K range in the near future. Sounds exciting, doesn’t it? Let’s dive in for details! 
Bitcoin’s Explosive Rally: What’s Driving It?
It was on December 5 that BTC broke above the $100K range for the first time. Between December 9 and 10, the market suffered a serious correction of 4.48%, pulling the price down to around $96,548.50. On December 11, with a massive single-day upward rise, the market rebounded back to the $100K range, and since then, the price has surged by at least 10.30%.
Excitement Among Long-Term BTC Holders 
Reports suggest that the strong upward momentum has created extreme excitement among long-term cryptocurrency investors. 
Explaining what has worked in favour of the BTC market, Lagen emphasises that the market has surpassed the re-accumulation phase – generally considered a resistance zone. 
$BTC  [1W] – Bitcoin is blowing off as expected with Long-term holders reaching Euphoria.
The gravity of the Re-accumulation pattern has proven to be transcended.
With an estimated 2.5 months before a recession begins to take hold, $BTC  is on track to surpass $200k soon.
Analyst Prediction: $200K on the Horizon 
In the first quarter of this year, Bitcoin recorded a quarterly return of over +68.7%. Although in the second and third quarters, the crypto reported lackluster performance, the latest crypto bullish trend indicates that in the fourth and final quarter of this year, the market may outperform its Q1 performance. 
Crypto Expert’s Optimistic Forecast 
Expressing his optimistic outlook about the future of Bitcoin, Lagen forecasts that the market would achieve the $200K milestone in the near future itself. 
$BTC
BTCUSDT
Perp
98,220.1
+5.24%
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2.2872
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