Bitcoin Price Repeating December 2023’s Playbook: Is The ‘Actual Breakout’ Yet To Come?
Author: Content Editor
Bitcoin (BTC) experienced a significant drop to $98,000 before recovering to $100,000. Market watchers believe that BTC's recent performance resembles its trajectory in December 2023, suggesting a potential breakout. The correction was triggered by the US Federal Reserve's announcement of a rate cut and fewer expected cuts in 2025. Analysts predict that BTC may follow a similar pattern to its 2023 trajectory, with a possible correction below $88,000 before resuming its bullish run. The next few hours will be crucial for BTC's short-term performance, with a close above $101,000 necessary to prevent a drop below key resistance levels. This drop has caused Bitcoin to fall below the $100,000 support level, currently sitting at $98,900.