Originally published on: December 02, 2024
Bitcoin recently slipped below $95,000, sparking interest from eager buyers. Prominent corporate holders like MicroStrategy and MARA Holdings continue to add to their Bitcoin reserves, undeterred by the cryptocurrency’s rapid climb toward $100,000.
Despite Bitcoin’s impressive 37% surge in November, traders are optimistic about its potential in December. According to 10x Research CEO Markus Thielen, historical data reveals an average positive return of +28% for Bitcoin in December during halving years.
Long-term investors are eyeing any potential dips as buying opportunities and are eager to see Bitcoin break above $100,000 to gain momentum.
As Bitcoin continues to dominate the market, the question remains: will the focus shift to altcoins soon? Let’s dive into the charts to uncover the answers.
Cryptocurrency investors are closely monitoring the S&P 500 Index (SPX) as it hits record highs, indicating strong demand. The index is poised for further gains if it maintains above key support levels.
In the world of currencies, the US Dollar Index (DXY) faces resistance near 108 but finds support at crucial levels. The battle between buyers and sellers could lead to a range-bound scenario in the near future.
Bitcoin enthusiasts are eagerly awaiting a breakthrough above $100,000 while sellers are eyeing profits at this critical level. The fate of Ethereum, XRP, and other altcoins remains uncertain as the market braces for potential shifts.
Ethereum (ETH) struggles to surpass $3,900, facing resistance despite bullish momentum. XRP’s recent rally points to a potential retest of all-time highs, but caution is advised due to increased volatility.
Solana (SOL) faces challenges below the 20-day EMA, while Binance Coin (BNB) grapples with resistance near $687. Dogecoin (DOGE) and Cardano (ADA) navigate key levels, signaling potential breakouts or pullbacks.
Avalanche (AVAX) climbs toward $51, triggering caution among traders as the bears prepare to defend their territory. As the cryptocurrency market evolves, investors must stay vigilant and adapt to changing trends.
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