CandleFocus Bitcoin faces a $99.8K wall, new ATH or major rejection next?
2024-12-21
Author: Content Editor
Bitcoin (BTC) has experienced a slight recovery after a drop from $102,000 to $92,000, but has been unable to surpass the $100K mark. The global digital assets market has seen an increase of over 5% in market cap, reaching $3.43 trillion. BTC is testing a resistance level between $97,500 and $99,800, and analysts believe that breaking this level could result in a new all-time high. BTC's price is currently around $98,319 with a 24-hour trading volume of $89 billion. Long and short bets on BTC worth over $134 million were liquidated in the past 24 hours, mostly long bets. Smaller tokens like Ethereum and Dogecoin have also been affected by BTC's decline. Additionally, Bitcoin ETFs have seen record outflows, indicating a bearish sentiment among investors. The Federal Reserve's hawkish stance is further pressuring the market, leading investors to reassess risk assets.
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