English | Español | Français
Market Cap: $ 3.46 T 24h Vol: $ 118.99 B BTC Share: 61.68%
BTCNEWS
  • Bitcoin
  • ETF
  • Prices
  • Exchanges
  • Glossary
bitcoinBTC/USD
$ 107,136.70 1.86%
No Result
View All Result
BTCNEWS
  • Bitcoin
  • ETF
  • Prices
  • Exchanges
  • Glossary
BTCNEWS
No Result
View All Result
Home Latest

When Will Bitcoin Surpass $100K Again To Reach $108.5K?

Exploring the Factors Influencing Bitcoin's Market Potential to Rebound to $108.5K Amidst Increased Selling Pressure

Mark Valerius by Mark Valerius
December 20, 2024
Share on FacebookShare on Twitter

Key Points

  • Short-term holders have sold large volumes of Bitcoin, while large investors wait for better entry points.
  • Bitcoin’s buying ratio has reached a new high, suggesting potential buying opportunities.

Bitcoin’s [BTC] recent phase has seen a decrease of 4.43% in the past 24 hours, with the cryptocurrency now trading below $100,000. This has reduced its monthly gains to 4.94%.

If the bullish momentum continues, Bitcoin has the potential to exceed its previous all-time high and possibly reach $108,500 before trending upwards. Recovery may depend on large holders entering at key price levels despite bearish market conditions.

Short-term Holders and Bitcoin’s Decline

Analyst Jam Van Straten suggests that the recent downturn in Bitcoin’s value is primarily due to short-term holders who frequently trade the cryptocurrency. This group has collectively sold about 26,000 BTC, valued at $2.7 billion.

These sales include both losses and profits, indicating the volatility of their trading activity. Van Straten points out that large investors, or ‘whales’, are currently on the sidelines, holding significant liquidity as they await an optimal entry point.

This implies that these influential traders are unlikely to act until market conditions align with their strategies. Once whales re-enter the market, their buying activity could drive Bitcoin to recover and potentially trade higher.

Buying Momentum and Bitcoin

According to Santiment, discussions around buying Bitcoin’s recent dip have reached record-high levels, a sentiment last seen on the 12th of April 2024, eight months ago.

Since then, Bitcoin has surged by over 81%. If history repeats itself, the current sentiment could fuel a similar rally, pushing BTC into higher price regions beyond its current levels.

With this potential upside in view, whales are likely to resume purchases. If buying momentum remains strong, Bitcoin could trend even higher.

Further analysis by analyst Mister Crypto reveals that BTC is ready to trade above its previous highs, driven by the formation of a large liquidity cluster around the $108,500 level. Liquidity clusters act as magnets for price movements, as assets often gravitate toward these regions to clear out pending orders before continuing their trajectory.

This setup suggests that Bitcoin has a strong likelihood of regaining buyer interest, especially as bullish conversations continue to dominate the market.

Tags: Bitcoin (BTC)

Related News

bitcoin debate

Core Developers Are ‘Risk To Bitcoin’ In Governance Battle, Says JAN3 CEO Samson Mow

June 10, 2025
Interview with 0G Labs’ Michael Heinrich on The Convergence of AI and web3

Interview with 0G Labs’ Michael Heinrich on The Convergence of AI and web3

June 10, 2025
market libra

Argentine President Cleared Of Ethics Violations In $4.5 Billion LIBRA Crash

June 10, 2025
ripple

Ripple Bets Big On Japan: $200K Partnership Grants Signal Major Asian Expansion

June 10, 2025
bitcoin
Bitcoin (BTC)
Rank: 1
$ 107,136.70
Price (BTC)
Ƀ1.00000000
Marketcap
$ 2.13 T
Volume
$ 34.57 B
24h Change
1.86%
Total Supply
19.88 M BTC

  • About Us
  • Contact
  • Advertise
X-twitter Telegram Facebook Instagram Youtube Medium Linkedin

Information you can trust

BTCNews.com provides Bitcoin news and other cryptocurrency news, reaching millions of crypto enthusiasts daily.

It offers comprehensive coverage of business, financial, and international news related to digital assets.

Serving professionals through digital platforms, industry conferences, and direct updates, BTCNews.com is a premier provider of blockchain and crypto news.

Disclaimer: The information provided by BTCNews.com is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency investments are highly volatile and involve significant risks.

Always conduct your own research and consult with a qualified financial advisor before making any investment decisions. BTCNews.com is not responsible for any losses incurred due to the use of information provided on this site.

  • © 2008 - 2024 BTCNews.com
  • Terms of Use
  • Privacy
  • Cookies
No Result
View All Result
  • Market
    • Crypto Prices
    • Crypto Exchanges
  • Learn
    • Glossary
  • News
    • Latest

© 2008 - 2024 BTCNews.com